Johor-based construction company Haily Group Bhd’s (Haily) wholly-owned subsidiary Haily Construction Sdn Bhd (Haily Construction) has accepted a Letter of Award (LA) from Nice Frontier Sdn Bhd, a member of IOI Properties Group Berhad, for a community housing project in Kulai, Johor worth RM14.57 million.
“This latest award shall increase the value of our projects which now amounts to a total of RM543.22 million, involving 22 building construction projects and 2 ongoing civil engineering-related construction projects. This latest contract shall keep us busy for the next 16 months and will contribute to the Haily Group’s earnings and net assets for the financial year ending December 31, 2022 and December 31, 2023,” says Haily’s Executive Director See Tin Hai.
He adds that securing the latest project is another testament to Haily Construction’s capabilities as a Grade G7 contractor with the Construction Industry Development Board (CIDB), as the employer requires that all works be assessed based on the quality standard stated in Construction Industry Standard (CIS) 7:2014 Quality Assessment System for Building Construction Works issued by the CIDB and achieve a minimum score of 68% for the QLASSIC Quality Assessment.
A filing with Bursa Malaysia shows that the award involves the proposed construction and completion of 216 units of strata townhouses measuring 20 ft by 60 ft (9 blocks), a management office and a TNB substation.
The contract period shall be sixteen months from the date of commencement, which shall be notified to Haily accordingly.
To recap, Haily Construction had on 5 November 2021, accepted a residential project awarded by Factor Synergy Sdn Bhd, a wholly-owned subsidiary of TA Global Berhad worth RM23.70 million. Haily Construction had also, on 2 November 2021, accepted a housing project by Gunung Impian Development Sdn Bhd for a residential project located in Tebrau, Johor worth RM27.21 million.
