KUALA LUMPUR: Johor-based construction outfit Haily Group Bhd’s (HGB) wholly-owned subsidiary, Haily Construction Sdn Bhd (HCSB), has secured a RM115.10 million contract from Permas Jaya Sdn Bhd, a subsidiary of Bandar Raya Developments Bhd.
This contract involves constructing and completing a stratified residential development project at Bandar Baru Permas Jaya, Mukim Plentong, Johor Bahru, Johor.
The development consists of two phases, comprising 184 double-storey cluster houses, 12 double-storey semi-detached houses, 2 double-storey bungalow houses, and ancillary buildings such as a clubhouse and management office, 1 bin centre, 2 Tenaga Nasional Bhd substations, and 1 guard house.
HCSB will undertake the project’s piling, construction of the main building, ancillary buildings, infrastructure, and mechanical and electrical works.
HGB founder and executive director See Tin Hai said this contract win underscores the company’s commitment to delivering high-quality residential developments that meet the needs of homeowners in Johor.
“We are proud to contribute to the development of Bandar Baru Permas Jaya and provide high-quality homes for the community.
“This project aligns perfectly with our strategic focus on delivering exceptional value to our clients and stakeholders,“ he said.
HGB’s recent contract win brings the company’s total secured contract value for 2024 to approximately RM732.41 million, significantly surpassing the RM272.14 million secured in 2023.
With this RM115.10 million award, HGB now has a portfolio of 25 ongoing projects, with a total contract amount of approximately RM1.11 billion.
These projects, which span residential, commercial, and industrial developments, are expected to be completed progressively between 2024 and 2026, ensuring sustained revenue visibility and profitability for the company.
This milestone reflects HGB’s strong position in Johor’s construction market, particularly as the state benefits from strategic developments such as the Johor-Singapore Special Economic Zone and the upcoming completion of the Johor Bahru-Singapore Rapid Transit System (RTS).
Malaysia’s construction sector, projected to grow by 6.7% in 2024 and 9.4% in 2025, provides a favourable environment for HGB to capitalise on these opportunities.
The RM115.10 million contract is expected to positively contribute to HGB’s financial performance for the financial years ending 2025 and 2026.
With its robust project pipeline, solid track record, and strategic focus, HGB is well-positioned to drive sustainable growth and reinforce its standing as one of the leading contractors in the southern region of Peninsular Malaysia’s property and construction industry.
