KUALA LUMPUR (Dec 9): Johor-based construction outfit Haily Group Bhd (KL:HAILY) has secured a contract to build 168 double-storey terrace houses in Taman Bestari Perdana in Johor Bahru worth RM38.20 million.
The contract was awarded to the ACE Market-listed company's wholly owned Haily Construction Sdn Bhd by Meridin East Sdn Bhd, a subsidiary of Mah Sing Group Bhd (KL:MAHSING), Haily's stock exchange filing on Monday showed.
The latest contract win, which is split into three phases and includes the construction of a power substation and two units of show houses, comes on the heels of the RM75.9 million contract that Haily announced in September it got from Meridin East to build 393 double-storey terraced houses in Johor Bahru.
It also brings the group's total contract wins for 2024 to about RM770.61 million, surpassing the RM272.14 million it secured in 2023. The group’s number of ongoing projects, meanwhile, has grown to 26, with cumulative contract value exceeding RM1.14 billion.
“Haily Construction will undertake piling, main building works, ancillary infrastructure, and mechanical and electrical installations. Each phase is expected to be completed within 15 months, with the TNB [Tenaga Nasional Bhd (KL:TENAGA)] substation and show houses to be completed within six months and four months, respectively,” it said in a statement.
The new job is expected to contribute positively to Haily’s financial performance for the financial years ending 2025 and 2026, it added.
Shares of Haily closed unchanged at 25 sen on Monday, giving the group a market capitalisation of RM98.08 million.