PETALING JAYA: Haily Group Bhd
has accepted a letter of award (LOA) from Venice View Development Sdn Bhd for a residential project at Taman Tiara Indah, Johor, worth RM89.9mil.
In a filing with Bursa Malaysia, Haily said the project will comprise 366 units of double storey terrace houses, a Tenaga Nasional sub-station and compact sub-station, two show units, as well as a guardhouse and gateway.
Haily said the development of the terrace homes will take around 15 months to complete.
“The LOA will not have any effect on the issued share capital and substantial shareholders’ shareholdings of the company as there is no issuance of new ordinary shares in the company.
“The board expects the LOA to contribute positively to the Haily group’s earnings and net assets over the duration of the project, assuming no material delay in the timing.”
