KUALA LUMPUR (July 3): Haily Group Bhd has secured a RM53.8 million contract to build residential units in Johor Bahru, bringing its year-to-date contact value of ongoing projects to RM713.6 million.

The group said its wholly owned subsidiary Haily Construction Sdn Bhd secured the contract from Tasek Maju Realty Sdn Bhd to build 170 units of double-storey cluster houses in the Taman Mutiara Maju township.

The project is scheduled to be completed by Nov 17, 2024, said Haily in a filing with Bursa Malaysia.

“There are many reasons to be optimistic about the long-term outlook for property development and the construction industry in Johor,” said Haily founder and executive director See Tin Hai.

“Johor will continue to be a beneficiary of key infrastructure projects, such as the Rapid Transit System (RTS) link, which is expected to be completed in 2026.”

He added that the group has secured total contracts worth RM204.48 million so far this year, which has exceeded the contracts secured for the whole of 2022.

Other major contracts bagged by the group this year include a RM37.85 million contract from Austin Senibong Development Sdn Bhd to construct 77 units of three-storey shop offices within the Crest@Austin project.

Haily also clinched a RM78.28 million contract for the construction of 262 units of residential properties in Pontian, Johor from Gadang Holdings Bhd, and a RM32.66 million contract for the construction of 186 residential units in the Bandar Putra township from a unit of IOI Properties Group Bhd.

Haily shares closed unchanged at 36 sen on Monday (July 3), valuing the group at RM64.2 million.