Contract is one of Haily’s biggest wins to date and its fifth major job secured this year
KULAI, 5 December 2023 — Construction player Haily Group Berhad (“Haily” or “Group”) has secured a RM64 million construction contract from Meridin East Sdn Bhd (“Meridin East”), a wholly-owned subsidiary of Mah Sing Group Berhad (“Mah Sing”), to build 327 residential units and 2 TNB substations for the Meridin East township in Johor Bahru. This contract, which is among Haily’s largest to date and the fifth major job clinched by the Group this year, brings the total contract value of its ongoing projects to RM697.51 million.
Haily’s wholly-owned subsidiary, Haily Construction Sdn Bhd, had on 5 December 2023 accepted a Letter of Award from Meridin East for the construction of 327 units of double-storey terrace houses and 2 TNB substations.
The 2 TNB substations and the houses, each measuring 20’ x 70,’ will be located in Parcel 2G of the Meridin East township at Taman Bestari Perdana, Mukim of Plentong, District of Johor Bahru in the state of Johor. Haily’s contract involves Parcel 2G1 and Parcel 2G2, with 157 units and 1 TNB substation to be built in Parcel 2G1, while the remaining 170 units and 1 TNB substation will be built in Parcel 2G2. The contract is scheduled to be completed within 15 months from the respective commencement dates of Parcel 2G1 and Parcel 2G2, which will be determined later.
Haily Group Berhad Founder and Executive Director Mr. See Tin Hai said:
“We are honoured to secure another contract from Mah Sing Group, one of Malaysia’s prominent real estate developers. Notably, Meridin East is Mah Sing’s largest mixed township development, with a total land size of 1,313 acres. We are proud to be part of this project.
The Group continues to benefit from the trust and reputation that we have built over the years, particularly in our ability to deliver outstanding service and maintain high standards of workmanship.
With this in mind, I believe we are positioned to continue riding the resurgence of activity in Johor’s property development sector.
In addition, over the past two years Johor has managed to secure major investments in oil and gas, data centres and manufacturing projects. This bodes well for Johor’s economy, which should spill over to property development and construction activities as well.
So far this year, we have secured total contracts worth RM272.15 million, which has far exceeded what we secured for the entirety of 2022. We aim to continue building on this momentum by securing more high-value projects.”
As Malaysia’s economy continues its steady recovery from the throes of the COVID-19 pandemic, Haily has secured several significant contracts, solidifying its position as one of Johor’s leading contractors.
Major contracts bagged by the Group this year include, amongst others, a RM53.80 million construction contract from Tasek Maju Realty Sdn Bhd to build 170 residential units for the Taman Mutiara Maju township; a RM32.66 million contract for the construction of 186 residential units in the Bandar Putra township from Nice Frontier Sdn Bhd, a member of IOI Properties Group Berhad; a RM78.28 million contract for the construction of 262 units of residential units in Pontian, Johor from Gadang Holdings Berhad’s subsidiary, Mandy Corporation Sdn Bhd; and a RM37.85 million contract for the construction of 77 commercial properties for the Crest@Austin development for Austin Senibong Development Sdn Bhd.
Haily 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 is also engaged in provision of construction machinery, as well as in the agriculture sector, where the Group is involved in managing and harvesting durians and other fruits.