KUALA LUMPUR: Haily Group Bhd (Haily), a Bursa Malaysia-listed construction company, has announced that its wholly-owned subsidiary, Haily Construction Sdn Bhd, has secured a RM97.997mil construction contract from Setia Indah Sdn Bhd, a wholly-owned subsidiary of SP Setia Bhd.
The project involves the construction and completion of 311 residential units, together with supporting infrastructure and external works, across two precincts within Setia Tropika, Mukim Tebrau, Johor Bahru.
The scope comprises 108 units of affordable double-storey townhouses under Residensi Lili (Precinct 12) and 203 units of double-storey terrace houses under Summera Grove (Precinct 13). The works also include multiple Tenaga Nasional Bhd (TNB) substations, guardhouse, perimeter fencing, drainage, roadworks, utilities, landscaping and external infrastructure improvements along Jalan Setia Tropika Utama and Jalan Lingkaran Setia Tropika.
The project is scheduled to commence on Dec 22, 2025 and complete on June 21, 2027, providing earnings contribution across FY2026 and FY2027.
Haily founder and executive director See Tin Hai said: “This award marks an important milestone for Haily as our first project secured with the SP Setia Group. We remain focused on disciplined execution and delivering consistently to standard and we believe this project provides a strong foundation for building a long-term working relationship while strengthening our presence in Johor’s residential and township developments.”
Following this latest award, Haily’s cumulative secured contracts have expanded to approximately RM1.36bil across 28 ongoing projects, after accounting for the addition of the new project and the completion or adjustment of earlier works. This continues to provide the group with clear medium-term revenue visibility.
The new contract further reinforces Haily’s positioning in landed residential and affordable housing segments, which continue to see sustained demand in Johor, supported by population growth, township expansion and improving connectivity.
On the same day, the group also announced the mutual termination of a legacy contract awarded in 2019 by Y Architects Sdn Bhd on behalf of TEK Land Sdn Bhd, for the proposed construction of shop offices in Kulai, Johor, with a contract sum of RM9.41mil, as the anticipated commencement date of Oct 1, 2019 had lapsed and the project did not commence since its original scheduled start date. The termination is non-operational in nature and does not have any material impact on the group’s earnings, net assets or operations.
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