KUALA LUMPUR, Sept 18 (Bernama) -- Haily Group Bhd’s wholly-owned unit Haily Construction Sdn Bhd has accepted a letter of award from Meridin East Sdn Bhd for the construction and completion of 393 units of terrace houses in Johor Bahru worth RM75.90 million.
In a filing with Bursa Malaysia today, Haily said the project will entail the construction of 126 units of double-storey terrace houses and one unit of Tenaga Nasional Bhd (TNB) chamber substation in the first parcel (parcel 4A3), and 156 units of double-storey terrace houses in the second parcel (parcel 4A4).
It said that in the third parcel (parcel 4A5), 111 units of double-storey terrace houses and a TNB double chamber substation will be constructed.
The group said that the construction of the terrace houses would take 15 months to complete, while the TNB double chamber substations would be completed in 6 months from the commencement date.
“The commencement date shall be instructed in writing by the architect Arcalliance Sdn Bhd,” it said.
Haily said that the award will not have any effect on the issued share capital and substantial shareholders’ shareholdings of the company as there is no issuance of new ordinary shares in the company.
“The board expects the award to contribute positively to the Haily group’s earnings and net assets throughout the project, assuming no material delay in the timing,” it said.
-- BERNAMA
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