Haily Group Bhd
Phone: +60 76609888p:+60 76609888 KULAI, 81000  Malaysia Ticker: HAILYHAILY

Haily opens at 11 sen premium on Ace Market debut

KUALA LUMPUR: Haily Group Bhd shares opened at 79 sen yesterday, which was an 11 sen premium or 16.18 per cent higher than its initial public offering price of 68 sen, on its debut on Bursa Malaysia’s ACE Market.

The first traded volume stood at 7.19 million shares.

The stock, however, could not keep the momentum to end its maiden day 6.33 per cent or half a sen lower at 74 sen.

Haily was among Bursa’s top 10 most active counters.

Speaking at its listing ceremony, chairman Mohd Jaffar Awang said Haily planned to continue focusing on its core competency in building construction in Johor while leveraging its experience to extend its reach to the other districts.

The listing marked an important milestone as it brought the company to greater heights from its humble beginnings, he added.

“I believe that the listing exercise will unlock our potential by enhancing our reputation as we market our construction services and expand our customer base in Malaysia.” Haily is a main contractor involved in the construction of residential and non-residential buildings in Johor.

It is also involved in the rental of construction machinery.

“Our company will be able to leverage our capabilities as a Grade G7 contractor, which allows us to bid and carry out any size of building construction projects irrespective of the contract value.” He said Haily had completed 65 building construction projects with a total contract value of RM1.29 billion since 2008.

“We have ongoing projects that can sustain us at least until 2023.

Currently, we have 18 building construction projects as well as two civil engineering-related construction projects.”

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Saturday, July 31, 2021