Johor-based construction company Haily Group Bhd has kicked off the new year with an RM41.28 million contract to build resort villas in Iskandar Puteri, and this marks the Group’s largest contract won since its listing on the ACE Market in July 2021.
Haily announced today that its wholly-owned subsidiary, Haily Construction Sdn Bhd had on 24 January 2022 accepted a Letter of Award from DP Architects Sdn Bhd on behalf of Country View Resources Sdn Bhd for the construction of Phase 1 of a Tourist Resort Strata Development located in Aurora Sentral, Pulai, Johor. The latter is the wholly-owned subsidiary of Bursa Malaysia Securities Berhad (“Bursa Securities”)-listed Country View Berhad.
Under the contract, Haily has been entrusted to construct 121 units of 2-story Link Villas, 1 unit of TNB sub-station and 1 unit of refuse chamber. The overall duration of the project is 18 months, and the works are expected to be commenced on 28 January 2022 and to be completed on 28 July 2023.
This is the third contract bagged by Haily in relation to Aurora Sentral in a span of less than a year. To recap, in March 2021, Haily was appointed to construct 147 Link Villas in Aurora Sentral for RM45.08 million and a clubhouse with a swimming pool for RM6.74 million.
With the addition of the new project, Haily’s outstanding order book value provides earnings visibility up till 2023. The appointment of Haily to develop the prestigious Aurora Sentral in the heart of Johor’s administrative city is in line with the Group’s aim to expand its footprint in the local construction landscape.
Mr. See Tin Hai Executive Director of Haily Group Berhad said
“The challenges in the overall economy and the construction industry have not stopped our growth. In the past five months alone, we have successfully bagged seven contracts, including from well-known listed companies such as IOI Properties Group Berhad, Mah Sing Group Berhad and Country View Berhad. This is a testament to our proven track record and ability to deliver quality construction works as per the requirements of our clients.
Amidst the uncertainties arising from the COVID-19 pandemic, we are cautiously optimistic of our prospects and the outlook of the construction industry, given the expected recovery for the overall economy this year. The Group will remain focused on residential building construction, while expanding into industrial building construction.