A steady momentum - LBS aiming to achieve RM1.6 billion in sales for 2020. (Centre) LBS Bina Group Berhad, Group Managing Director, Tan Sri Lim Hock San, posing with (from left) Executive Director & Deputy CEO of MGB Berhad, Mr Isaac Lim; LBS Executive Directors, Dato' Alan Chia, Dato' Sri Daniel Lim, Datuk Wira Joey Lim, Dato’ Cynthia Lim, and MGB Berhad Executive Director & CEO, Datuk Richard Lim.
Leading township developer, LBS Bina Group Berhad (LBS), surpassed their sales 2019 sales target at RM1.63 billion, compared to the previous year of RM1.526 billion. This achievement is despite the challenging market conditions, soft consumer sentiments, and global trade tensions.
In a review of the Group’s 2019 overall performance, LBS Group Managing Director, Tan Sri Lim Hock San, said, “We are very pleased with our achievements as it validates our approach to develop projects that meet the three main pillars of Affordability, Connectivity and Community.
“LBS has continued to focus on quality townships and affordable developments in strategic locations, a segment that remains relatively strong in a subdued market sentiment. This focused approach has proven effective, as reflected in LBS’ financial performance.”
Tan Sri Lim further continued by saying, “LBS is sustaining well amidst a challenging economic and property market environment. We managed to secure a CAGR (compound annual growth rate) of 20.37% for the past five successive years as a result of our ‘people-focused’ approach and wider adoption of Industrialised Building System (IBS) and design optimisation.”
LBS launched a total of 11 new developments across 5 different locations in 2019, totalling a Gross Development Value (GDV) of RM1.82 billion. Sales of the projects were mainly from the central region, with the main contributors being the LBS Alam Perdana township and the newly unveiled township in April 2019 – KITA @ Cybersouth.
Also contributing to the Group’s performance are the landed property projects of Emerald Garden 3 and Laman 2 Bayu in Bandar Putera Indah township, Johor and Taman Kinding Flora in Chemor, Ipoh.
As of 31 December 2019, the group moved into the new year with 18 ongoing projects and a landbank of approximately 3,630 acres. With this, Tan Sri Lim expects the Group’s sales to remain strong and achieve the target of RM1.6 billion.
With a positive demand for their new projects, LBS plans to launch RM2.321 billion of properties in 2020. The projects will be focussed on new phases within their existing townships of KITA @ Cybersouth township, LBS Alam Perdana township and Midhills 2.
The other projects from the Group that are slated to begin in 2020 include single-storey link houses in Bandar Putera Indah in Batu Pahat, semi-detached units and double-storey terrace houses in Cameron Golden Hills in Cameron Highlands, and affordable single-storey houses in Chemor, Perak.
LBS will also be running the exciting new initiative in 2020 – the ‘LBS Fabulous 2020’, – to reward home buyers. With this campaign, homebuyers of selected projects will have the opportunity to win exciting and attractive prizes worth a total of RM1 million, including a Proton X70.
Tan Sri Lim concluded by saying, “Moderating housing sentiment and tightening lending criteria will carry on this year. But, as the ‘People’s Developer’, LBS will continue to think out-of-the-box, to appeal to the needs of modern homebuyers. We differentiate ourselves through placemaking, curating spaces that celebrate inclusive, meaningful living experiences.”
(7 January 2020)
