HAILY POSTS RM43.31 MIL REVENUE FOR Q1, AHEAD OF LISTING ON ACE MARKET OF BURSA MALAYSIA

Haily Group Berhad (Haily) announced yesterday its first interim financial report ahead of its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad on 21 July 2021.

For the first quarter ended Mar 31, 2021 (1QFY21), Haily and its subsidiaries (Group) recorded a revenue of RM43.30 million. This was mainly contributed from the Group’s construction of residential and non-residential buildings which accounted for RM43.21 million or 99.80% of the total revenue, while the balance of RM0.09 million was derived from its civil engineering construction works and rental of construction machinery and equipment.

Meanwhile, profit attributable to the owners of the Company stood at RM2.80 million for the said quarter.

The Board also declared an interim dividend of 1.68 sen per ordinary share, amounting to a total payout of RM2,995,787.76, in respect of the financial year ending 31 December 2021 (“FY21”), on an entitlement date and payment date to be determined and announced after Haily’s listing on the ACE Market of Bursa Securities.

Haily’s Founder and Executive Director, See Tin Hai

Haily’s Founder and Executive Director, See Tin Hai said that the Group has weathered the cloudy economic conditions well, and that the unbilled order book is expected to continue generating revenue until 2023.

As at 10 June 2021, Haily had 18 on-going building construction projects as well as 2 civil engineering related construction projects. Its total secured contract value and unbilled contract value stood at RM460.04 million and RM249.58 million respectively.

“In light of the uncertainties arising from COVID-19, the Group remains cautiously optimistic of its prospects and the outlook of the construction industry with the expected recovery by the end of the current financial year. Nevertheless, the Group has persevered thus far and the Group views that its financial results for FY21 will remain favourable,” See added.

Haily is principally a main contractor involved in building construction of residential and non-residential buildings in the Southern Region of Peninsular Malaysia, particularly Johor, and is also involved in the provision of rental of construction machinery.

Of the RM20.40 million to be raised from its public issue, Haily plans to use RM4.20 million (20.59%) for the purchase of construction machinery, equipment as well as new contract management and accounting software and office equipment, RM6.00 million (29.41%) for working capital for construction projects, RM7.00 million (34.31%) for repayment of bank borrowings, and the remaining RM3.20 million (15.69%) for listing expenses.

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