Haily Group Berhad has secured a construction contract worth nearly RM98 million in Johor, strengthening its order book and underpinning earnings visibility over the next 18 months.
The group said its wholly owned subsidiary, Haily Construction Sdn Bhd, has accepted a letter of award issued by Arkitek N. Kang on behalf of Setia Indah Sdn Bhd for the construction and completion of residential developments and related infrastructure works at Taman Setia Tropika, Johor Bahru.
The contract, valued at RM97.99 million, covers the construction of a total of 311 residential units across two precincts, comprising 108 units of double-storey affordable townhouses under the Residensi Lili project at Precinct 12 and 203 units of double-storey terrace houses under the Summera Grove development at Precinct 13.
Works under the contract also include the construction of Tenaga Nasional Berhad substations, a guard house, and extensive infrastructure and external works such as piling, sewerage, drainage, roadworks, water reticulation, street and compound lighting, telecommunications infrastructure, landscaping, perimeter fencing, and desilting works for an existing detention pond. External works along Jalan Setia Tropika Utama and Jalan Lingkaran Setia Tropika are also part of the scope.
The project is scheduled to commence on Dec 22, 2025, with completion targeted for June 21, 2027.
Haily Group said the contract will not have any impact on its issued share capital or major shareholders’ shareholdings, as no new shares will be issued. The board expects the project to contribute positively to the group’s earnings and net assets over the duration of the contract, barring any material delays.
The board added that there are no foreseeable significant risks arising from the project beyond the usual operational risks associated with construction contracts, which fall within the group’s ordinary course of business.
