KUALA LUMPUR: Construction player Haily Group Bhd has won a second contract worth RM17.5 million from Meridin East Sdn Bhd, a wholly owned subsidiary of Mah Sing Group Bhd, to build 108 landed residences for its largest integrated township in the Eastern Gateway of Iskandar Malaysia.
Haily’s wholly owned subsidiary, Haily Construction Sdn Bhd, accepted a letter of award from Meridin East Sdn Bhd, for the construction of Parcel 2H3 of the Meridin East township, which entails the construction of 108 units of 18ft x 70ft double-storey terrace houses in Plentong, Johor, today.
The construction project will take 16 months, with the commencement date to be advised by the project’s superintending officer. The contract is a “firm price contract” and will not be subjected to any fluctuation in costs other than variations sanctioned under the conditions of contract.
The first contract won by Haily from Mah Sing in October 2021 was worth RM24.5 million and entailed the construction of 155 double-storey terrace houses for Meridin East.
Commenting on the contract, Haily Group founder and executive director See Tin Hai (pix) said the achievement aligns well with its future growth to further solidify its standing within the construction industry.
“Moving forward, the group expects its performance to be driven by its existing ongoing construction projects as well as new construction projects expected to be secured. The group views that its financial results for the financial year ending Dec 31, 2022 will remain favourable.
“With the latest job win, our order book comprises 24 ongoing projects with a total contract value of RM578.12 million, which is expected to be progressively completed between 2022 and 2024,” he added.