SOUTHERN region-based builder Haily Group Bhd remains optimistic about its growth prospects as it continues to secure contracts and expand its footprint in Johor’s thriving property development sector.
With a robust order book of 26 ongoing projects valued at RM857.93 mil, the ACE Market counter is well-positioned to capitalise on the state’s economic growth and ongoing infrastructural developments.
The outlook for Haily is further buoyed by several strategic developments that are expected to drive demand for residential and commercial properties in Johor.
The recent efforts for the establishment of the Johor-Singapore Special Economic Zone (JS-SEZ) which is aimed at strengthening economic connectivity between Johor and Singapore represents a major opportunity for Haily.
“We are very optimistic about the future, particularly with the strategic initiatives unfolding in Johor such as the JS-SEZ and the upcoming completion of the Johor Bahru-Singapore Rapid Transit System (RTS), which are set to significantly boost the state’s economic landscape,” envisages Haily’s founder and executive director See Tin Hai.
“With our strong track record and on-going projects, we are well-prepared to meet the growing demand for quality residential and commercial properties.”
Additionally, the group expects Budget 2025 which is slated for tabling on Oct 18 to deliver positive news for the construction and property sectors, including initiatives to support affordable housing and development projects in key strategic areas.
These initiatives could further bolster Haily’s ability to continue its growth trajectory and contribute to Johor’s ongoing urban development.
Moreover, the RTS which is expected to commence operations by early 2027 shall further enhance cross-border movement, alleviating congestion and facilitating seamless connectivity between the two cities.
This project will improve the quality of life for commuters as well as stimulate economic activities, thus creating new opportunities for Haily in the development of residential and commercial infrastructure to support their increased demand.
Outlook-wise, the Malaysian construction sector is expected to grow by 6.7% in 2024, driven by new and on-going large infrastructure projects under the national development frameworks, including the Budget 2024 and the New Industrial Master Plan 2030.
As Haily looks ahead, it remains committed to leveraging its strong project execution capabilities and business networks to secure new opportunities while delivering value to its stakeholders.
Haily’s growth trajectory and robust order book is poised to provide a solid foundation for the company’s continued success in the coming years.
In 2024 alone, Haily has secured 13 contracts with a total value of approximately RM462.31 mil which surpasses the RM272.14 mil achieved for the entire 2023.
This strong performance underscores the group’s ability to continuously attract and secure high-value projects, hence reinforcing its reputation as one of the key players in Johor’s construction industry.
At 2.53pm, Haily was down 1 sen or 3.03% to 32 sen with 1.33 million shares traded, thus valuing the company at RM126 mil. – Oct 3, 2024
