Haily wins RM32.7 million residential project for IOI Properties’ township

Construction group, Haily Group Bhd has bagged a RM32.66 million construction contract from Nice Frontier Sdn Bhd, a member of IOI Properties Group Bhd, to build residential units for the Bandar Putra township within Iskandar Malaysia.

The contract, which is the third job clinched by the group this year, brings the total contract value of its ongoing projects to RM657.87 million.

Haily’s wholly subsidiary, Haily Construction Sdn Bhd, had on March 10, 2023 received a letter of award from JYP Architects Sdn Bhd, an architect appointed by Nice Frontier for the construction of 186 units of terrace houses each measuring 24’ x 75’.

The contract will commence on March 27, 2023 and is scheduled to be completed in 15 months by June 26, 2024.

Haily Group founder and ED See Tin Hai said in less than three months of this year, the group have secured total contracts worth RM148.79 million and have exceeded the contract value secured in the entire last year.

“This puts us on track to achieve a stronger financial year in 2023. Haily is actively working towards securing more high-value projects this year,” he said in a statement today.

Earlier in November 2021, Haily had bagged a RM14.57 million community housing project in Kulai from Nice Frontier. The contract involved the construction and completion of 216 strata townhouses measuring 20’ x 60’ each.

The group is principally a main contractor involved in constructing residential and non-residential buildings in the Southern Region of Peninsular Malaysia, particularly Johor. It also provides construction machinery for rental purposes.

At market close today, Haily’s share price was unchanged at 39.5 sen translating to a market share of RM70 million. – TMR