Haily Secures Two Johor Bahru Construction Contracts Worth Over RM80 Million

Haily Group Bhd has continued to strengthen its project pipeline after securing two new construction contracts in Johor Bahru totalling RM80.3 million. The jobs, both located in Taman Bestari Perdana, Plentong, further reinforce the group’s presence in the southern region’s residential development scene.

According to separate filings on Nov 19, Haily’s wholly owned subsidiary Haily Construction Sdn Bhd accepted Letters of Award from Meridin East Sdn Bhd for two separate parcels of work.

Details of the Contracts

Contract 1 – RM49 Million

• Construction of 222 double-storey terrace houses

• Awarded under a firm-price contract, meaning no cost fluctuation claims

Contract 2 – RM31.3 Million

• Construction of 146 double-storey terrace houses

• Also a firm-price agreement

Both projects include a 27-month defects liability period, beginning from the date the certificate of practical completion is issued.

Order Book Strengthens to RM345.52 Million

With these new wins, Haily’s estimated cumulative secured contracts for the year have risen to RM345.52 million, reflecting steady momentum despite a competitive construction market.

Haily’s share price closed 0.5 sen higher at 22 sen, giving the company a market capitalisation of RM93.1 million. Year-to-date, however, the stock remains 12% lower.

Broader Market Relevance to KL–Selangor Industrial & Commercial Corridors

While the new contracts are in Johor Bahru, they correlate with broader construction and development activity across Malaysia — particularly in high-growth regions such as:

• Industrial land in Selangor supporting manufacturing expansion

• Factory development in Puchong and adjacent logistics corridors

• Industrial property in the Subang area

• Office space in Bukit Jalil within major mixed-use townships

• Commercial property in KL linked to rising urbanisation

Consistent construction demand in Johor Bahru often reflects wider market confidence, which can influence investment trends throughout the Klang Valley.