KUALA LUMPUR (Feb 6): Haily Group Bhd has secured a new construction contract worth RM48.21 million for the development of double-storey residential houses in Taman Impian Emas, Skudai, Johor, further strengthening the group’s project pipeline.
The contract was awarded to its wholly owned subsidiary, Haily Construction Sdn Bhd, by Gunung Impian Development Sdn Bhd. According to the company, work on the project will begin on Feb 23 and will be executed in three phases.
Founder and executive director See Tin Hai said the latest award has lifted the group’s total secured contracts to approximately RM1.3 billion, providing steady earnings visibility over the coming years. This healthy order book, he added, allows the company to be more selective when tendering for new projects, focusing on developments that offer stronger margins and long-term value.
The initial two phases include the construction of supporting infrastructure such as an electrical substation, a show unit, and a mock-up house, all scheduled for completion within six months, by Aug 22, 2026.
The main phase of the project involves building 111 double-storey terraced houses, along with associated infrastructure and landscaping works. This portion is targeted for completion by Oct 22, 2027. All phases will be subject to a 26-month defect liability period following practical completion.
Haily expects the project to contribute positively to both earnings and net assets throughout the construction period. With this latest award, the group is currently managing 27 ongoing projects and continues to strengthen its presence in the construction sector, particularly in Johor. To date, the company has completed 115 projects with a combined contract value of roughly RM2.29 billion.
At the close of trading on Thursday, Haily’s shares rose 2.5% to 20.5 sen, giving the company a market capitalisation of about RM86.7 million, although the stock remains lower compared with its level a year ago.
Market perspective
While this project is residential in nature, ongoing construction activity across Malaysia continues to support broader property and infrastructure demand, including segments tied to commercial property in KL and mixed-use developments across the Klang Valley. Sustained growth in construction and urban expansion also indirectly influences demand for office space in Bukit Jalil, industrial land in Selangor, factories in Puchong, and industrial property in the Subang area, as population growth and business expansion typically drive both residential and industrial real estate requirements over time.
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