LBS Achieves Fourth Consecutive Year Of Growth
4 January 2019
For Immediate Release
LBS ACHIEVES FOURTH CONSECUTIVE YEAR OF GROWTH
LBS Continues To Focus On Townships And More Affordable Homes In 2019
Kuala Lumpur, 4 January 2019 – Leading township developer, LBS Bina Group Berhad (LBS), maintains an upward growth trend in 2018 with sales increased to over RM1.5 billion from RM 1.4 billion in 2017. This marks the fourth consecutive year of improved results with a strong 25% compounded annual growth rate (CAGR) from 2014 to 2018.
Speaking at its 2019 Outlook Briefing, Group Managing Director, Tan Sri Lim Hock San, said, “LBS has once again achieved positive growth despite a challenging market environment. Achieving improved results over four consecutive years validates the strategy we have adopted. We have a good track record in providing strong product offerings which meet the needs of home buyers, at the right time, and more importantly, at the right price range.”
In 2018, its sales were mainly derived from new project launches in LBS Alam Perdana in Puncak Alam, Residensi Bintang Bukit Jalil, Zenopy Residences in Seri Kembangan and Kita @ Cybersouth in Dengkil. Additionally, ongoing developments in township projects including Bandar Saujana Putra, D’ Island Residence in Puchong, Bandar Putera Indah in Batu Pahat and Cameron Golden Hills in Cameron Highlands, also contributed positively to the healthy sales result.
Moving into 2019, despite a subdued property market outlook due to persistently cautious market sentiment and a slower global economic growth, LBS is confident of sustaining its RM 1.5 billion sales target for 2019, driven by the right product offerings and new launches mainly in the Klang Valley. These include the LBS Alam Perdana township and Kita @ Cybersouth township in Dengkil which is expected to contribute significantly to the Group’s earnings in 2019.
“There is still strong underlying demand for quality and affordable units. Our strategy to focus on more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, continues to be well received by the market and has helped us ride through the challenging market conditions,” said Tan Sri Lim.
LBS remains optimistic about its growth prospects with total unbilled sales stood at RM 1.745 billion as of 31 December 2018. The Group has lined up new projects with an estimated Gross Development Value (GDV) of RM1.82 billion. The property projects to be unveiled in 2019 include double storey terrace houses in LBS Alam Perdana, Residensi Bintang Bukit Jalil condominium, double storey terrace houses in Bandar Putera Indah, Batu Pahat as well as more than 1,000 affordable homes in Kita @ Cybersouth.
For Immediate Release
LBS ACHIEVES FOURTH CONSECUTIVE YEAR OF GROWTH
LBS Continues To Focus On Townships And More Affordable Homes In 2019
Kuala Lumpur, 4 January 2019 – Leading township developer, LBS Bina Group Berhad (LBS), maintains an upward growth trend in 2018 with sales increased to over RM1.5 billion from RM 1.4 billion in 2017. This marks the fourth consecutive year of improved results with a strong 25% compounded annual growth rate (CAGR) from 2014 to 2018.
Speaking at its 2019 Outlook Briefing, Group Managing Director, Tan Sri Lim Hock San, said, “LBS has once again achieved positive growth despite a challenging market environment. Achieving improved results over four consecutive years validates the strategy we have adopted. We have a good track record in providing strong product offerings which meet the needs of home buyers, at the right time, and more importantly, at the right price range.”
In 2018, its sales were mainly derived from new project launches in LBS Alam Perdana in Puncak Alam, Residensi Bintang Bukit Jalil, Zenopy Residences in Seri Kembangan and Kita @ Cybersouth in Dengkil. Additionally, ongoing developments in township projects including Bandar Saujana Putra, D’ Island Residence in Puchong, Bandar Putera Indah in Batu Pahat and Cameron Golden Hills in Cameron Highlands, also contributed positively to the healthy sales result.
Moving into 2019, despite a subdued property market outlook due to persistently cautious market sentiment and a slower global economic growth, LBS is confident of sustaining its RM 1.5 billion sales target for 2019, driven by the right product offerings and new launches mainly in the Klang Valley. These include the LBS Alam Perdana township and Kita @ Cybersouth township in Dengkil which is expected to contribute significantly to the Group’s earnings in 2019.
“There is still strong underlying demand for quality and affordable units. Our strategy to focus on more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, continues to be well received by the market and has helped us ride through the challenging market conditions,” said Tan Sri Lim.
LBS remains optimistic about its growth prospects with total unbilled sales stood at RM 1.745 billion as of 31 December 2018. The Group has lined up new projects with an estimated Gross Development Value (GDV) of RM1.82 billion. The property projects to be unveiled in 2019 include double storey terrace houses in LBS Alam Perdana, Residensi Bintang Bukit Jalil condominium, double storey terrace houses in Bandar Putera Indah, Batu Pahat as well as more than 1,000 affordable homes in Kita @ Cybersouth.
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.
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Issued by : LBS Bina Group Berhad
Through : Centriq PR Sdn. Bhd.
Jacqueline Arnold / Angela Tham / Adrian Koo
Tel: 03 7726 3430
