KUALA LUMPUR, Sept 18 – Haily Group Bhd’s fully-owned subsidiary, Haily Construction Sdn Bhd, has secured a contract worth RM75.9 million from Meridin East Sdn Bhd for the construction of 393 terrace houses in Johor Bahru.
In a filing with Bursa Malaysia, Haily Group disclosed that the project is divided into three phases. The first phase (Parcel 4A3) involves the construction of 126 double-storey terrace units and a Tenaga Nasional Bhd (TNB) chamber substation. The second phase (Parcel 4A4) will see the development of 156 more double-storey terrace units, while the third phase (Parcel 4A5) consists of 111 double-storey terrace houses along with a TNB double chamber substation.
Haily Group added that the construction of the terrace houses will take 15 months to complete, with the substations scheduled for completion in six months. The commencement date will be set by the project’s appointed architect, Arcalliance Sdn Bhd.
The company also confirmed that the contract will not affect its share capital or the holdings of major shareholders, as no new shares will be issued. Haily expects the project to have a positive impact on its earnings and net assets, provided there are no significant delays.
Source: Bernama
