Construction firm Haily bags RM52mil contract from Mah Sing
Published on: Friday, December 30, 2022
By: FMT Business
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Since last December, Haily has clinched several key contracts, putting it among Johor’s top contractors.
Meridin East Sdn Bhd, a wholly-owned subsidiary of Mah Sing Group Bhd, had given the letter of award to Haily on Dec 15 for the construction of 283 units of 20 ft by 70 ft landed homes in Parcel 1C of the Meridin East township.
There will be two phases to the contract – 128 units of double-storey terrace houses (including two show houses) will be built under Phase 1, and the remainder (155 units) under Phase 2.
The value of Phase 1 and Phase 2 are split at RM23.82 million and RM28.48 million respectively.
The completion timeline is expected to be 15 months from the date of commencement which is expected to begin no later than March 21, 2023 for Phase 1, and Phase 2 is expect to commence no later than Sept 20, 2023.
The project, which is the third contract from Mah Sing, is also the Group’s biggest contract since its listing in July 2021.
Haily founder See Tin Hai told this contract is their biggest project to date and is expected to contribute positively to their bottom line over the next two years.
“Our current order book comprises 24 ongoing projects with a total contract value of RM593.31 million, which is expected to be completed between 2023 and 2024 progressively,” he said in a statement.
Rewinding the clock to October 2021, the first contract awarded to Haily by Mah Sing was worth RM24.5 million for construction of double-storey terraces in Parcel 2H1 of the Meridin East township.
In September 2022, their second contract was worth RM17.5 million for landed residences in Parcel 2H3 of the same township.
Haily has been on a roll since its listing in July 2021, bagging several key contracts. Apart from Mah Sing, Country View Resources Sdn Bhd awarded it a RM41.28 million contract for 121 units of 2-storey link villas under Phase 1 of a resort located in Aurora Sentral, Pulai, Johor.
Austin Senibong Development Sdn Bhd awarded a RM40.67 million contract to build 99 units of three-storey shop offices in Tebrau, Johor.
