Haily Group Bhd (HAILY) has landed a RM42.85 million construction contract to develop a new residential precinct comprising 187 terraced homes and a power substation in Bandar Putra, Kulai, Johor.
In a filing to Bursa Malaysia, the company announced that the project was awarded to its wholly owned subsidiary, Haily Construction Sdn Bhd, by DC Architects Sdn Bhd acting on behalf of project owner Nice Frontier Sdn Bhd.
The construction period spans 15 months, beginning Dec 15 and targeted for completion on March 14, 2027.
Haily noted that the project will not dilute its share base since no new shares will be issued. However, the contract is expected to strengthen earnings and enhance net asset value throughout the development period.
Shares of Haily closed on Thursday at 20.5 sen, down 2.4%, giving the company a market capitalisation of RM86.72 million.
With the ongoing demand for residential and industrial growth across Johor — supported by rising activity in industrial land in Selangor, expansion of factory operations in Puchong, growing interest in commercial property in KL, and stronger appetite for industrial property in the Subang area — the group views this new contract as a strategic boost to its construction portfolio. The broader market momentum, including demand for modern workplaces such as office space in Bukit Jalil, continues to underline sustained confidence in Malaysia’s property and development sectors.
