PETALING JAYA: Haily Group Bhd
has accepted a letter of award (LoA) from Permas Jaya Sdn Bhd for the construction and completion for two phases of a residential project in Johor Baru, Johor, worth RM115.10mil.
In a filing with Bursa Malaysia, Haily said the project will primarily involve the development of double storey cluster houses, semi-detached as well as double storey bungalow houses.
“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.”
Haily said the contract is a “fixed lump sum contract” and shall not be subject to any fluctuation in costs.
“The contract sum is inclusive of all costs of labour, materials, plant, fuel, government taxes, duties, surcharges and any other costs incurred by Haily in the execution of the LoA and no claims in respect of any increase in the cost of the foregoing will be entertained.”
