LBS Continues To Focus On Quality Townships And Affordable Housing Developments
Petaling Jaya, 30 August 2019 – Leading township developer, LBS Bina Group Berhad (LBS), is on course to achieve its RM1.5 billion sales target for 2019, on the back of strong take-up rates for its townships and affordable housing developments as well as steady construction progress. The company has secured RM1.0 billion sales todate, with over 75% of the sales revenue contributed by on-going projects located in the central region, including LBS Alam Perdana township in Bandar Puncak Alam, Kita @Cybersouth township in Dengkil, and Residensi Bintang Bukit Jalil condominium.
LBS Group Managing Director, Tan Sri Lim Hock San, said, “LBS is in a strong position to meet its sales target for this year. We have been focusing on launching more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, which has helped us to ride through the current challenging economic climate.” The Group has recorded a revenue and profit before tax (PBT) of RM 646 million and RM 75 million respectively in the first six months ended 30 June 2019. This represents a 19% increase in revenue, from RM 545 million as at 30 June 2018. Unbilled sales stood at RM 1.92 billion as at 31 July 2019.
During the first half of 2019, LBS launched two new projects, mainly the Kita Harmoni and Kita Impian at Kita @ Cybersouth township. The Group has lined up new launches including ‘Melodi Perdana’ apartment of LBS Alam Perdana and Tower 2 (South Tower) of Residensi Bintang Bukit Jalil which expected to be rolled out in the last quarter of 2019. These projects feature LBS’ fundamental pillars of affordability, connectivity and community to meet the current requirements of homebuyers. Moving forward, the Group also plans to widen the adoption of the Industrialised Building System (IBS) for its future developments. The use of IBS has proven to significantly reduce construction period and delivery periods, which in turn, improves cost-efficiency.
About LBS Bina Group Berhad
LBS has a distinct pedigree which dates back to 1980s when Dato’ Seri Lim Bock Seng – a young and aggressive man with vision – founded the original construction business in Petaling Jaya. After a decade of rapid growth, LBS set its sights higher and ventured into the property development sector in 1992 where it started its first project, the Jelapang Maju Light Industrial Park in Ipoh, Perak. After taking over the baton from his father, Tan Sri Lim Hock San has grown and developed LBS into one of the major players in property development in Malaysia. LBS Bina Group Berhad (5789) was listed on the Main Board of Bursa Malaysia Securities Berhad in 2002 with business expanded to Zhuhai, the People’s Republic of China.
Under the leadership of Managing Director, Tan Sri Lim Hock San, the Group re-strategised its business model, and launched a brand new image, identity and direction as part of its long term objective to be an internationally recognised developer, building and inspiring lifestyle spaces that enhance community living. To mark this new direction, the Group has extended its portfolio of quality homes to the high-end market and has embarked on a progressive journey of change, which includes the areas of product, customer experience, after-sales services, sustainability, green technology and design. In recognition of his entrepreneurship, Tan Sri Lim was awarded the Asia Pacific Entrepreneur of the Year Award 2012 by Enterprise Asia. In July 2012, as an acknowledgement of his active involvement in the development of Zhuhai City, China, Tan Sri Lim Hock San was appointed a committee member of the Zhuhai Municipal People’s Political Consultative Conference (Zhuhai CPPCC).
Under the stewardship of Tan Sri Lim, the Group was awarded the ‘Best Company for Leadership of Property Development’ at the 2014 International Alternative Investment Review (IAIR) Awards. Another exemplary accomplishment of Tan Sri Lim was the conferment of The Brand Laureate Hall of Fame – Lifetime Achievement Brand ICON Leadership Award 2015. Tan Sri Lim was presented the award in recognition of his perseverance through many years, resilience that has withstood the test of time, demonstration of strong leadership, deep industry knowledge and impeccable values of integrity and responsibility through LBS.
In appreciation of his contribution to the lasting relationship between Malaysia and China, Tan Sri Lim was conferred the Lifetime Achievement Award 2015 during the World Chinese Economy Summit 2015 (WCES). The World Economic Summit honours entrepreneurs for their dedication, selfless service and innovative leadership. LBS marked new milestones in 2016, as the company was awarded the 5 Star Best Development Marketing Malaysia award for its lifestyle-concept development BSP21, and the 5 Star Interior Design Show Home Malaysia award for its Corallia semi-detached homes, at the prestigious Asia Pacific Property Award (APPA) 2016. LBS also clinched the BrandLaureate Most Valuable Brand Award for Property Industry 2016 award in recognition of its esteemed reputation as a trusted property developer at the BrandLaureate Best Brands Awards 2015 – 2016.