KUALA LUMPUR: Haily Group Bhd (HGB), one of the key players in Johor’s construction industry, continues its strong growth trajectory with a new contract win worth RM38.20 million.
The project, awarded to its wholly-owned subsidiary, Haily Construction Sdn Bhd (HCSB), by Meridin East Sdn Bhd (MESB), a subsidiary of Mah Sing Group Bhd, encompasses the construction of 168 double-storey terrace houses in Taman Bestari Perdana, Johor Bahru.
“We are delighted to work with MESB once again to deliver quality homes in Johor Bahru.
“This contract win reinforces our expertise in residential construction and our commitment to meeting the needs of both developers and homebuyers,“ HGB founder and executive director See Tin Hai said in a statement.
The project, located in Parcel 1B, Taman Bestari Perdana, will be developed in three phases.
Phase 1B1 will comprise 59 units, Phase 1B2 61 units, and Phase 1B3 with 48 units.
The contract also includes the construction of a Tenaga Nasional Bhd (TNB) substation and 2 units of show houses.
HCSB will undertake piling, main building works, ancillary infrastructure, and mechanical and electrical installations.
Each phase is expected to be completed within 15 months, with the TNB substation and show houses to be completed within 6 months and 4 months, respectively.
With this latest award, HGB’s total secured contract value for 2024 has risen to approximately RM770.61 million, significantly exceeding the RM272.14 million secured in 2023.
The company’s number of ongoing projects has grown to 26, with a cumulative total contract value exceeding RM1.14 billion.
The Malaysian construction sector, particularly in Johor, presents strong growth opportunities.
Economic initiatives such as the Johor-Singapore Special Economic Zone (SEZ) and the upcoming completion of the Johor Bahru-Singapore Rapid Transit System (RTS) are expected to further drive demand for residential properties in the state.
This RM38.20 million contract is expected to contribute positively to HGB’s financial performance for the financial years ending 2025 and 2026, further solidifying its position as one of the leading building contractors in the Southern Region of Peninsular Malaysia’s construction industry.
