Haily Group bags second contract worth RM17.5mil from Meridin East

KUALA LUMPUR: Haily Group Bhd has bagged a second contract worth RM17.5 million from Meridin East Sdn Bhd to build 108 landed residences for its largest integrated township in the eastern gateway of Iskandar Malaysia.

Haily said its subsidiary, Haily Construction Sdn Bhd, had on September 7, 2022, accepted a letter of award (LoA) from Meridin East, a wholly-owned subsidiary of Mah Sing Group Bhd, for the construction of parcel 2H3 of the Meridin East township.

The LoA entails the construction of 108 units of 18' times 70' double-storey terrace houses in Plentong, Johor.

The new contract signifies the confidence of an esteemed developer like Mah Sing in the company's quality of work and proven track record.

Haily Group founder and executive director See Tin Hai said this is an achievement for the company as it focuses on cementing its status to be at the forefront among Johor's top contractors.

See said this achievement aligns well with the company's future growth to solidify its standing within the construction industry further.

"Moving forward, the company expects its performance to be driven by existing construction projects and new projects that are expected to be secured.

"The company views that its financial results for the financial year ending December 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 said.

The construction project will take 16 months, with the commencement date advised by the project's superintending officer.

The contract is a 'Firm Price Contract' and shall not be subjected to any cost fluctuation other than variations sanctioned under the contract conditions.

To recap, 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 the Meridin East township.


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