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KUALA LUMPUR, Jan 24 -- Haily Group Bhd announced that its wholly-owned subsidiary, Haily Construction Sdn Bhd, has accepted a Letter of Award (LOA) from Country View Resources Sdn Bhd for the construction and completion of Phase 1 of a tourist resort strata development in Iskandar Puteri, Pulai, Johor Bahru.
In a filing with Bursa Malaysia, Haily Group said the total contract sum of the project amounted to RM41.28 million.
“The Board expects the LA to contribute positively to the Group’s earnings and net assets over the duration of the project, assuming no material delay in the timing.
"Having considered the rationale, prospects and all other aspects of the LA, the Board is of the opinion that the acceptance of the LA is in the best interest of the company,” Haily Group said.
The completion time for the works inclusive of mobilisation, all public holidays and off days shall be 18 months commencing from Jan 28, 2022 and date of practical completion will be July 28, 2023, it added.
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