SOUTHERN region-based builder Haily Group Bhd through its wholly-owned subsidiary Haily Construction Sdn Bhd has secured a RM98 mil construction contract from Setia Indah Sdn Bhd, a wholly-owned subsidiary of S P Setia Bhd.
The project involves the construction and completion of 311 residential units alongside supporting infrastructure and external works across two precincts within Setia Tropika in the Tebrau district, Johor Bahru.
The scope comprises 108 units of affordable double-storey townhouses under Residensi Lili (Precinct 12) and 203 units of double-storey terrace houses under Summera Grove (Precinct 13).
The works also include multiple Tenaga Nasional Bhd (TNB) substations, guardhouse, perimeter fencing, drainage, roadworks, utilities, landscaping and external infrastructure improvements along Jalan Setia Tropika Utama and Jalan Lingkaran Setia Tropika.
The project is scheduled to commence on Dec 22, 2025 and complete on June 21 June 2027, thus providing earnings contribution across FY2026 and FY2027.
“This award marks an important milestone for Haily as our first project secured with the S P Setia Group,” commented Haily’s founder and executive director See Tin Hai.
“By remaining focused on disciplined execution and delivering consistently to standard, we believe this project provides a strong foundation for building a long-term working relationship while strengthening our presence in Johor’s residential and township developments.”
Following this latest award, Haily’s cumulative secured contracts has expanded to approximately RM1.36 bil across 28 on-going projects after accounting for the the new project and the completion or adjustment of earlier works.
This will continue to provide the group with clear medium-term revenue visibility.
Very broadly, the new contract further reinforces Haily’s positioning in landed residential and affordable housing segments which continue to see sustained demand in Johor, supported by population growth, township expansion and improving connectivity.
On the same day, the group also announced the mutual termination of a legacy contract awarded in 2019 by Y.Architects Sdn Bhd on behalf of TEK Land Sdn Bhd, for the proposed construction of shop offices in Kulai, Johor with a contract sum of RM9.41 mil as the anticipated commencement date of Oct 1, 2019 had lapsed while the project did not commence since its original scheduled start date.
The termination is non-operational in nature and does not have any material impact on the group’s earnings, net assets or operations.
At the close of today’s (Dec 18) trading, Haily was down 0.5 sen or 2.27% with 55,100 shares traded, thus valuing the company at RM91 mil. – Dec 18, 2025
