Bursa-listed company Haily Group Berhad (Haily), a Johor-based construction sector player, is in a strong position to meet the growing demand for residential and commercial properties in Johor state, arising from mega projects connecting Johor Bahru and the city state of Singapore.
With a robust order book of 26 ongoing projects valued at RM857.93 million, the group remains optimistic about securing contracts and expanding its footprint in Johor's thriving property development sector including the construction of infrastructure.
In 2024 alone, Haily has secured 13 contracts with a total value of approximately RM462.31 million, surpassing the RM272.14 million achieved for the entire year of 2023.
The establishment of the Johor-Singapore Special Economic Zone (JS-SEZ), which is aimed at strengthening economic connectivity between Johor and Singapore, presents a major opportunity for Haily.
Likewise, The Johor Bahru-Singapore RTS, which is expected to commence operations by early 2027, will further enhance cross-border movement, alleviating congestion and facilitating connectivity between Johor Bahru and Singapore.
According to a press statement, Haily urges government to provide incentives that support affordable housing and development projects ahead of Budget 2025, expected to be announced on October 18, 2024, in about two weeks.
On the outlook, the Malaysian construction sector is expected to grow by 6.7% in 2024, driven by new and ongoing large infrastructure projects under the national development frameworks the New Industrial Master Plan 2030.
