SOUTHERN region-based builder Haily Group Bhd through its wholly-owned subsidiary, Haily Construction Sdn Bhd has accepted a letter of award (LA) from Akipro Architect Sdn Bhd for the construction and completion of Phase 6C of the Crest@Austin project in Bandar Jaya Putra, Johor Bahru.
Valued at RM65.1 mil, the contract by Akipro Architect on behalf of Austin Senibong Development Sdn Bhd entails the development of 206 units of double-storey terrace houses and a Tenaga Nasional Bhd (TNB) sub-station.
The contract is scheduled for commencement on Dec 2 with the priority works comprising a show house, a mock-up unit and a TNB sub-station to be completed by June 1, 2025 while the piling works are to be completed within two months from the contract’s commencement date.
The remaining residential units are slated for completion within 15 months from the piling works’ commencement.
“We’re delighted to work with Austin Senibong given this project aligns with Haily’s strategic commitment to delivering quality residential developments in Johor, a state that continues to present growth opportunities,” commented Haily’s founder and executive director See Tin Hai.
“As Johor’s property development sector thrives with support from economic initiatives like the Johor-Singapore Special Economic Zone (JS-SEZ) that are expected to drive demand for residential and commercial properties. Haily is prepared to meet the growing demand for quality housing and infrastructure.”
Haily’s latest contract win brings the group’s total contract value for 2024 to RM527.41 mil which surpassed the RM272.14 mil secured in 2023.
Currently, the ACE Market-listed Haily has 27 on-going projects with total contract value of RM923.03 mil.
These projects are expected to be progressively completed between 2024 and 2026 amid Malaysia’s promising construction sector outlook which is projected to grow by 9.4% in 2025.
As the group looks ahead, it remains committed to leveraging its strong project execution capabilities as well as business relationships and networks to secure new opportunities and deliver value to its stakeholders.
At the close of today’s market trading, Haily was unchanged at 23.5 sen with 1.63 million shares traded, thus valuing the company at RM92 mil. – Oct 30, 2024
