PETALING JAYA, Haily Group Bhd’s wholly owned subsidiary, Haily Construction Sdn Bhd, has secured a RM197.55 million contract from Connoisseur Properties Sdn Bhd for the construction of a high-rise serviced apartment development.
In a Bursa Malaysia filing, the company said the project involves the development of a 45-storey serviced apartment block comprising 34 residential floors with 748 units. The scope of works also covers several commercial elements, including five shop units on Level 1, two shop units on Level 10, and a one-storey car park on Level 2.
According to Haily, construction works are scheduled to commence on Oct 1, 2025, with completion targeted for Jan 31, 2029. The project is expected to span 40 months in total.
The contract also stipulates penalties in the event of delays. For the main building works, liquidated damages of RM80,000 per day will be imposed should completion not meet the stipulated deadline. For the shop units, the penalty is set at RM1,000 per day of delay. Haily said the contract is expected to contribute positively to the group’s earnings and net assets throughout the duration of the project.
The company emphasised that this new win reinforces its track record in high-rise residential construction and strengthens its order book. Haily has been actively securing projects in Johor and the Klang Valley, and this contract further underscores its position as a key player in the building construction sector. The group added that it remains committed to timely project delivery while ensuring quality, safety, and compliance with industry standards.
