KUALA LUMPUR (Nov 12): Haily Group Bhd has accepted a letter of award from JYP Architects Sdn Bhd for the construction of community housing in Kulai, Johor, worth RM14.57 million.
The group said the Johor Community Housing Type A project comprises 216 units of strata townhouses, one unit of management office and one unit of TNB substation.
The contract period will be for a duration of 16 months from the date of commencement of the project, the group said in a bourse filing.
Under the contract, Haily will provide an irrevocable performance bond of RM728,300, equivalent to 5% of the contract sum in the form of a bank guarantee.
Its board of directors expects the award to contribute positively to its earnings and net assets over the duration of the project, assuming no material delays.
Haily's share price rose 1.5 sen or 2.9% to close at 54 sen, giving a market capitalisation of RM80 million.