Haily bags record-breaking RM78mil construction job, total contract value crosses RM660mil
262 units of two-storey terrace houses for Gadang Holdings Bhd’s Splendid Pavilion Sdn Bhd
KULAI, 17 February 2023 — Construction specialist Haily Group Berhad (“Haily” or “Group”) has won a RM78.28 million contract to build 262 units of residential properties in Pontian, Johor. With this new job, which is the largest contract to date, Haily’s total contract value has increased to RM660.77 million.
Haily’s wholly-owned subsidiary, Haily Construction Sdn Bhd, had on 8 February 2023 received a Letter of Award from Mandy Corporation Sdn Bhd, a main contractor appointed by Splendid Pavilion Sdn Bhd, for the construction and of 118 units of two-storey terrace house (measuring 22’ x 70’), 144 units of two-storey terrace house (measuring 22’ x 75’) and 2 units of Tenaga Nasional Berhad (“TNB”) sub-stations. The construction project is located at Laman Citra, Gelang Patah of in the district of Pontian, Johor.
Both Mandy Corporation and Splendid Pavilion are wholly-owned subsidiaries of Main Market-listed Gadang Holdings Berhad. The contract will be effective for 20 months from the date of commencement, which will be confirmed at a later date.
Haily Group Berhad Founder and Executive Director Mr. See Tin Hai said:
“We are honoured to be awarded this contract, the second for Gadang Group Berhad’s Laman Citra project. We are confident in delivering the project within the timeline without compromising on the quality, underpinned by our previous experiences in dealing with various construction projects, including for listed developers like Mah Sing Group Berhad, IOI Properties Group Berhad and Country View Berhad.
Given the size of this project, it will further accelerate our revenue growth momentum from last year. We expect to grow our orderbook even further this year, riding on the stable recovery of the domestic property sector. With the latest job win, our order book currently comprises 25 ongoing projects with a total contract value of RM660.77 million, and the projects are expected to be progressively completed between 2023 and 2024.”
In January 2023, Haily had won a RM37.85 million contract from Austin Senibong Development Sdn Bhd to construct 77 units of three-storey shop offices within the Crest@Austin project. In December 2022, Haily secured a RM52.30 million contract for the construction of 283 two-storey terrace houses from Mah Sing Group Berhad’s subsidiary, Meridin East Sdn Bhd.
The Group has been actively winning several key contracts since the gradual recovery of Malaysian economy from COVID-19, putting it at the forefront among Johor’s top contractors.
These included a contract worth RM17.50 million awarded by Mah Sing’s subsidiary to build 108 landed residences in Parcel 2H3 of the Meridin East township; a RM41.28 million contract from Country View Resources Sdn Bhd for the construction of 121 units of 2-storey link villas in Aurora Sentral, Pulai, Johor; a RM40.67 million contract for 99 units of 3-storey shop offices in Tebrau, Johor from Austin Senibong Development Sdn Bhd; a RM14.57 million contract from Nice Frontier Sdn Bhd for a community housing project in Kulai, Johor; a RM23.70 million residential project awarded by Factor Synergy Sdn Bhd; a RM27.21 million contract for construction of 176 landed residences from Gunung Impian Development Sdn Bhd; and a RM24.5 million contract awarded by Mah Sing to build 155 double-storey terrace houses for the Meridin East township.
Haily made its debut on the ACE Market of Bursa Malaysia Securities on 21 July 2021. 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.
