KUALA LUMPUR: Haily Group Bhd (HGB), one of the key players in Johor’s construction industry, remains optimistic about its growth prospects as it continues to secure contracts and expand its footprint in Johor’s property development sector.
With a robust order book of 26 ongoing projects valued at RM857.93 million, HGB is well-positioned to capitalise on the state’s economic growth and ongoing infrastructural developments.
The outlook for HGB is further buoyed by several strategic developments expected to drive demand for residential and commercial properties in Johor.
The recent efforts to establish the Johor-Singapore Special Economic Zone (JS-SEZ), which aims to strengthen economic connectivity between Johor and Singapore, represent a significant opportunity for HGB.
“We are very optimistic about the future, particularly with the strategic initiatives unfolding in Johor, such as the JS-SEZ and the upcoming completion of the Johor Bahru-Singapore Rapid Transit System (RTS), which are set to boost the state’s economic landscape significantly.
“With our strong track record and ongoing projects, we are well-prepared to meet the growing demand for quality residential and commercial properties,“ HGB founder and executive director See Tin Hai said.
Besides that, HGB hopes the upcoming Budget 2025, expected to be announced on October 18, 2024, will deliver positive news for the construction and property sectors, including initiatives to support affordable housing and development projects in key strategic areas.
Such measures would align with the government’s commitment to fostering economic growth and ensuring stability within the sector.
These initiatives could further bolster HGB’s ability to continue its growth trajectory and contribute to Johor’s ongoing urban development.
Additionally, the RTS, which is expected to commence operations by early 2027, will further enhance cross-border movement, alleviating congestion and facilitating seamless connectivity between the two cities.
This project will improve the quality of life for commuters and stimulate economic activity, creating new opportunities for HGB to develop residential and commercial infrastructure to support this increased demand.
On the outlook, the Malaysian construction sector is expected to grow by 6.7% in 2024, driven by new and ongoing large infrastructure projects under the national development frameworks, including the Budget 2024 and the New Industrial Master Plan 2030.
As HGB looks ahead, it remains committed to leveraging its strong project execution capabilities, business relationships, and networks to secure new opportunities and deliver value to its stakeholders.
HGB’s growth trajectory and robust order book provide a solid foundation for the company’s continued success in the coming years.
In 2024, HGB secured 13 contracts with a total value of approximately RM462.31 million, surpassing the RM272.14 million achieved for 2023.
This strong performance underscores the company’s ability to continuously attract and secure high-value projects, reinforcing its reputation as one of the key players in Johor’s construction industry.
