Haily wins RM52.3mil contract from Mah Sing for 283 landed houses, biggest contract till date

This latest contract increased the value of Haily’s total ongoing projects to RM593.31 million

KULAI, 29 December 2022 — Construction specialist Haily Group Berhad (“Haily” or “Group”) has bagged a RM52.30 million contract from Meridin East Sdn. Bhd, a wholly-owned subsidiary of Mah Sing Group Berhad (“Mah Sing”) to build 283 two-storey terrace houses. The project, which is the third contract from Mah Sing, is also the Group’s biggest contract since its listing in July 2021.

The Group’s wholly-owned subsidiary, Haily Construction Sdn Bhd, had on 15 December 2022 received a Letter of Award from Meridin East Sdn Bhd for the construction of 283 units of 20’ x 70’ landed homes in Parcel 1C of the Meridin East township. Meridin East is Mah Sing’s largest integrated township in the Eastern Gateway of Iskandar Malaysia.

For the entire project, Haily is responsible, among others, for the building, mechanical and electrical, infrastructure and landscaping works.

Haily Group’s business Premise

The contract involves two phases of construction, of which under Phase 1, Haily will construct a total of 128 units of double-storey terrace houses (including two Show Houses) and under Phase 2, the Group will construct a total of 155 units double-storey terrace houses. Phase 1 carries a contract value of RM23.82 million, while Phase 2 carries a contract value of RM28.48 million.

Both phases are to be completed within 15 months from their respective dates of commencement. Phase 1 is expected to commence no later than 31 March 2023 while Phase 2 is expected to commence no later than 30 September 2023.

Haily Group Berhad Founder and Executive Director Mr. See Tin Hai

Haily Group Berhad Founder and Executive Director Mr. See Tin Hai said:

“This new contract, on top of the two contracts earlier, signifies the confidence of an esteemed developer like Mah Sing in Haily’s track record and quality of work. The Group is stepping into the year 2023 on a stronger footing. This latest contract, our biggest project to date, is expected to contribute positively to our bottom line over the next two years.

With the latest job win, our order book currently comprises 24 ongoing projects with a total contract value of RM593.31 million, which is expected to be progressively completed between 2023 and 2024.”

To recap, the first contract won by Haily from Mah Sing in October 2021 was worth RM24.5 million and entailed the construction of 155 double-storey terrace houses in Parcel 2H1 of the Meridin East township. In September 2022, Haily won the second contract worth RM17.5 million to build 108 landed residences in Parcel 2H3 of the Meridin East township.

Since December last year, the Group had successfully bagged several key contracts, putting it at the forefront among Johor’s top contractors. These include a RM41.28 million contract from Country View Resources Sdn Bhd for the construction of 121 units of 2-storey link villas under Phase 1 of a Tourist Resort Strata Development located in Aurora Sentral, Pulai, Johor and a RM40.67 million contract from Austin Senibong Development Sdn Bhd to build 99 units of three-storey shop offices in Tebrau, Johor.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store