KUALA LUMPUR (Nov 5): Haily Group Bhd’s wholly-owned subsidiary Haily Construction Sdn Bhd has secured a construction project worth RM23.7 million from Factor Synergy Sdn Bhd, a unit of TA Global Bhd.

The contract is for the construction and completion of 66 units of double-storey terrace houses, one security guardhouse, one Tenaga Nasional Bhd (TNB) sub-station, one entrance gateway, one Phase 1 notice board, and infrastructure works on part of the land held under Lot 653, in Kluang district, Johor.

According to a bourse filing on Friday, the project commenced on Nov 1, 2021 and shall be completed on April 30, 2023.

“The completion period for the works shall be eighteen months from the commencement date,” said Haily, which is a building contractor of residential and non-residential buildings.

It added that its board expects the contract to contribute positively to the group’s earnings and net assets.

In a separate statement, Haily's executive director and founder See Tin Hai said the latest award has increased the value of its projects to RM528.65 million in total, involving 21 building construction projects and two ongoing civil engineering-related construction projects. 

"This latest contract shall keep us busy for the next 18 months and will contribute immensely to the Haily group’s earnings and net assets for the financial years ending Dec 31, 2022 and Dec 31, 2023,” he added.

Haily shares closed two sen or 3.6% lower at 53.5 sen with 659,700 shares done. This gave the group a market value of RM95.4 million.

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