Haily wins RM53.8mil residential project for Johor Bahru township


Haily founder and executive director See Tin Hai

PETALING JAYA: Haily Group Bhd has won a contract worth RM53.8mil from Tasek Maju Realty Sdn Bhd for the construction and completion of 170 units of double storey cluster houses in Johor Baru.

In a filing with Bursa Malaysia, Haily said the duration of the contract will be from Aug 17, 2023 to Nov 17, 2024.

Haily said its board expects the contract to contribute positively to the group’s earnings and net assets over the duration of the project, assuming there is no material delay in the timing of the contract.

Founder and executive director See Tin Hai said: “We are thrilled to work with Tasek Maju, a renowned real estate developer in Johor, on this project. This contract, among our major wins to date, demonstrates the confidence developers place in our ability to deliver exceptional service and maintain high standards of workmanship.”

“There are many reasons to be optimistic about the long-term outlook for property development and the construction industry in Johor. Johor will continue to be a beneficiary of key infrastructure projects, such as the Rapid Transit System (RTS) link, which is expected to be completed in 2026. And this year, prominent developers have announced new projects in Johor with gross development value (GDV) totalling more than RM1bil,” See said.

He said the group had so far secured total contracts worth RM204.48mil, which has exceeded what it secured for the entirety of 2022.

“As we continue growing our total contract value, we remain on track to achieve a stronger financial year in 2023. We will continue to work towards securing more high-value projects this year,” he added.

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Haily , construction , See Tin Hai

   

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