SOUTHERN region-based builder Haily Group Bhd, one of the key players in Johor’s construction industry, has seen the total contract value of its cumulative on-going projects having exceeded the RM1 bil mark with its latest contract win of RM89.90 mil.
This significant milestone highlights ACE Market-listed Haily’s robust growth trajectory which further strengthens its presence in Johor’s property development sector.
The new contract awarded to the group’s wholly-owned subsidiary Haily Construction Sdn Bhd by Mah Sing Group Bhd’s subsidiary Venice View Development Sdn Bhd is for the construction of Parcels 2A and 2B of Taman Tiara Indah in Johor Bahru.
The RM89.90 mil project entails the development of 366 double storey terrace houses, two show units, two Tenaga Nasional Bhd sub-stations and a guard house.
“We are thrilled to work with Mah Sing on this project which strengthens our presence in Johor’s residential construction market,” commented Haily’s founder and executive director See Tin Hai.
“The robust demand for high-quality residential properties in Johor aligns well with our vision and we look forward to delivering a successful project that meets the highest standards.”
Haily’s recent contract win brings the group’s total secured contract value for 2024 to RM617.31 mil, further surpassing the RM272.14 mil achieved for the entire year of 2023.
With the addition of this RM89.90 mil contract, Haily now has a portfolio of 27 on-going projects valued at a cumulative total contract amount of RM1.01 bil.
These projects are anticipated to be progressively completed between 2024 and 2026, thus supporting Haily’s growth prospects amid Malaysia’s positive construction sector outlook which is projected to grow by 9.4% in 2025.
The project award is expected to contribute positively to Haily’s earnings for its FY2025 and FY2026, hence further enhancing the group’s growth prospects and reinforcing its standing as one of the key players in Johor’s construction industry.
At the close of today’s market trading, Haily was up one sen or 4% to 26 sen with 1.09 million shares traded, this valuing the company at RM102 mil. – Nov 6, 2024
