PETALING JAYA: Haily Construction Sdn Bhd, a wholly-owned unit of Haily Group Bhd
, has scored two letters of award from Meridin East Sdn Bhd for premium residential projects at Taman Bestari Perdana, Plentong, Johor Baru.
The first contract (Parcel 1A) totals RM49mil for 222 double-storey terrace houses across two phases, including a Tenaga Nasional Bhd substation and show houses.
The second (Parcel 4A6) is worth RM31.3mil for 146 units of double storey terrace houses in two phases.
Combined, these firm-price deals span 15-month completion timelines per phase, with strict liquidated damages, up to RM21,000 daily, to ensure on-time delivery.
Key terms of the contracts include waived banker's guarantees, replaced by 2% cash retention plus Haily's 3% corporate guarantee, and QLASSIC quality standards with penalties for subpar scores.
Haily Group expects the contracts to contribute positively to its earnings over the job duration, foreseeing no significant risks other than the usual operational risks which are in its ordinary course of business.
