LBS Group Managing Director, Tan Sri Lim Hock San sharing company updates at the LBS Post 20th AGM Media Briefing. Image from: LBS

LBS Bina Group Berhad (LBS) aims to launch projects in the next 9 months with a total projected gross development value (GDV) of RM3 billion. New developments within the company’s pipeline include KITA Sejati, KITA Mekar in KITA @ Cybersouth, Dengkil, Ritma Perdana and a new block of Melodi Perdana apartment in LBS Alam Perdana township, Bandar Puncak Alam, Vines 3 in Cameron Golden Hills, Emerald Garden 3 in Bandar Putera Indah, Batu Pahat, and Bayu Hills in Genting Permai.

LBS Group Managing Director, Tan Sri Lim Hock San when speaking at the LBS Post 20th AGM Media Briefing said that “More than 80% of our future project launches are located in the Klang Valley region.”

“Our strong sales performance is an indication of the group’s proven strategies in developing the right products that meet the market demand. As a result, our sales momentum has picked up tremendously. And, as at 26 July 2020 LBS have achieved RM780 million sales”, said Tan Sri Lim Hock San.

LBS has handed over 5,526 units of properties in the last 3 years. The group is planning to hand over a total of 7,181 units in the year 2020 and 2021.

LBS has a total of 15 ongoing projects with an estimated GDV of RM4.3 billion to date. As of 30 June 2020, LBS owns 3,591 acres of land bank. This land bank is expected to keep the company busy for 10 to 15 years to come. "We will continue our strategy of building more sustainable townships based on our three core pillars of Sustainability, Connectivity and Culture," added Tan Sri Lim Hock San.

As of 15 July 2020, the total unbilled sales of LBS stood at RM2 billion. With these billings underway, LBS remains positive regarding its current and future growth prospects.

Earlier at the AGM, the company obtained approval from shareholders to pay a First and Final Single Tier Dividend in respect of the financial year ended 31 December 2019, consisting of a distribution of Treasury Shares in the ratio of 3 Treasury Shares for every 100 existing Ordinary Shares owned.

For more information about LBS and its projects, please visit their official website.

(29 July 2020)