Haily Group's headquarters in Johor.
KULAI: Construction specialist Haily Group Bhd (Haily) has bagged a RM52.3mil contract from Meridin East Sdn Bhd, a wholly-owned subsidiary of Mah Sing Group Bhd (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, will construct the 20’ x 70’ landed homes in Parcel 1C of the Meridin East township, which 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.
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 of double-storey terrace houses. Phase 1 carries a contract value of RM23.82mil, while Phase 2 carries a contract value of RM28.48mil.
Both phases are to be completed within 15 months from their respective dates of commencement. Both phases are expected to start this year with Phase 1 commencing by March 31 while Phase 2 is expected to commence on Sept 30.
“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,” Haily founder and executive director See Tin Hai said.
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