Haily Group Berhad said it had accepted a Letter of Award issued for M Tiara in Johor by Venice View Development Sdn. Bhd. for the construction and completion of 221 units of double storey terrace houses comprising 111 units of double storey terrace, 10 units of double storey terrace houses and second parcel of 100 units of double storey terrace houses.
The total contract sum forthe project is reported at RM53.7 million, Haily said the LA 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 expect the LA to contribute positively to the HAILY group’s earnings and net assets over the duration of the Project, assuming no material delay in the timing as stated.
