KUALA LUMPUR: Haily Group Bhd (HGB) recorded a revenue of RM43.30 million for the first quarter (Q1) ended Mar 31, 2021 (FY21), ahead of its upcoming listing on the ACE Market of Bursa Malaysia on 21 July 2021.
HGB's positive revenue was mainly from the construction of residential and non-residential buildings, which accounted for RM43.21 million or 99.80 per cent of the total revenue.
The balance of RM0.09 million was derived from its civil engineering construction works and construction machinery and equipment rental.
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 RM2.99 million, in FY21, on an entitlement date and payment date to be determined and announced after HGB's listing.
Founder and executive director See Tin Hai said the company had weathered the cloudy economic conditions well and that the unbilled order book is expected to continue generating revenue until 2023.
As of 10 June 2021, HGB had 18 ongoing building construction projects and two 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 company 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 company has persevered thus far and views that its financial results for FY21 will remain favourable," See said.
HGB is principally the main contractor involved in building construction of residential and non-residential buildings in Johor and is also involved in renting construction machinery.