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Savvy with Property Abbreviations

Planning to buy your first house? There’s really no better time to do so! Especially with the HOC extended till the end of 2021, as well as BNM maintaining its OPR at an all-time low of 1.75%. You also happen to have a healthy DSR? Great! Hold up, you look confused, did all these abbreviations confuse you? Believe it or not, we were once in that spot.

The process of buying your first home can be overwhelming because it is not merely a cash and carry process. Besides having an in-depth knowledge of the potential property, being well-versed with banking and property abbreviations is equally as important.

In this article, we won’t be going too in-depth on every abbreviation so that you can take your time to digest all this info. Here is our pick of property abbreviations that you need to know to help ease your way on your journey to securing your first home:

1. HOC

Introduced back in 2019, HOC is the abbreviation for Home Ownership Campaign, a government initiative intended to aid homebuyers in search to purchase their dream property and simultaneously catalyze sales of unsold properties in the housing market of Malaysia. The HOC comprises significant stamp duty exemptions on Instrument of Transfer, Instrument on Loan Agreement, and much more. Be quick though because this campaign is only here to stay till the end of 2021.


2. MPC, BNM, and OPR

Hear us out on why we place them together. The Overnight Policy Rate (OPR) is an overnight interest rate set by the Monetary Policy Committee (MPC) of Malaysia’s central bank, Bank Negara Malaysia (BNM) intended for monetary policy direction. Remember how we mentioned that at the time of speaking the OPR is at its all-time low and that’s a good thing? The lower the OPR is set, the cheaper it is to take a loan and thus, better capabilities of accessing capital, be it for personal or commercial reasons, and vice versa.


3. DSR

A Debt Service Ratio (DSR) is a method used by banks to gauge your ability to afford the loan that you just applied for. When purchasing a house, DSR is crucial as banks use this formula to determine the amount that you can afford to pay for your monthly property loan instalments. A healthy DSR is in the 30-40% range. In short, the lower your DSR, the merrier but should your DSR be on the high side, don’t give up just yet. You can always seek advice from your bank on the highest DSR that they accept because every bank’s DSR limits may differ.



Credit Tip-Off Services or better known as CTOS in short is a report that is issued by CTOS Data Systems Sdn Bhd, which is one of our country’s leading private Credit Reporting Agency (CRA) which archives an individual or organization’s complete credit record. Contrary to a Central Credit Reference Information System (CCRIS) report which only tracks credit history for the past one year, CTOS reports are stored indefinitely. A good CTOS score will boost your credit application approval and ultimately, bring you one step closer to your dream home!


5. DOA

No no, it’s not prayer in Malay, but instead stands for Deed of Assignment. DOA is a legal document that is used to transfer the ownership of a property/a debt from one party to another. It confirms the transfer of ownership from the ‘Assignor’ (the individual who currently owns the property) to the ‘Assignee’ (the individual who is acquiring the property).


6. MOT

The Memorandum of Transfer (MOT) is a legal document that follows the SPA and confirms the actual transfer of the ownership of the property. It confirms the actual transfer of ownership of a property. Wait, MOT sounds very similar to DOA, yes? Signing the MOT signing signifies that the Land Title will be transferred from the developer to you. For high-rise units, once it is divided, the MOT needs to be filed at the Land Office to transfer the ownership of the unit from the developer to the buyer. The signing of the MOT is the legal confirmation of transfer of ownership and generally forms the final step of the transfer process.


7. SPA

The Sale and Purchase Agreement (SPA) is an extremely important document that defines the terms of a house sale. A legally binding contract between buyer and seller that confirms mutually agreed conditions such as the method of payment, defect liability period, conditions of the property, fixtures, and fittings, and other relevant clauses.


8. DLP

Do you know how our new phones and electronics come with warranty? Defect Liability Period or DLP in short is sort of the same thing but for properties instead. It is a specific period where your developer is responsible to fix any defects identified in your new home. Spotted misaligned or hollow tiles, uneven paint, or crack ceilings? It’s part of the SOP for developers to thoroughly inspect the property before vacant possession (VP), while you get all excited for your new house, knock and skim through every corner of the house! Under the Housing Development Act in Malaysia, the DLP period is 24 months for individual titles and 36 months for strata titles, beginning from the day you take the keys for your new house, so start checking away!


9. CCC

CCC stands for the Certificate of Completion and Compliance (CCC) which is also by far one of the most important documents in the journey of securing your dream home. This black and white is issued when your newly built house is signed off as completed and safe for habitation, as evaluated and submitted by an appointed architect known as Principal Submitting Person (PSP).


10. BLR

To make it easy to digest, Base Lending Rates (short for BLR) is the base interest rate that banks internally turn to prior to finalizing the rate to charge for your home loan. To describe more precisely, BLR is the rate determined by each bank according to the cost needed to borrow the money to be lent to borrowers, which is determined by the aforementioned OPR.


Well done! You’ve made it till the very end. Of course, there’s so much more to learn in the world of property and every abbreviation actually deserves its very own article. But no worries, we are confident that you are now much savvier than when you started. Did you like what you read? Let us know in the comments down below how we can help you be better equipped in buying your new house! 


Budget 2022 set to revitalize the housing market, the five visions of property developers

LBS Bina and Nanyang decided to continue the trend of email interviews. Among the topics discussed by Tan Sri Lim Hock San was the national wish list of 2022 for the property sector, particularly on his hopes for the government to extend the Home Ownership Campaign (HOC) as this campaign has shown positive impacts on first-time homebuyers. This news also includes other renowned property developers and both print and online are available:

20211011 LBS INTRODUCES PRESTIGE RESIDENCE Prestigious In Quality and Affordability

For Immediate Release




Prestigious In Quality and Affordability


Petaling Jaya, 11 October 2021 – Renowned township developer, LBS Bina Group Berhad (LBS) proudly presents its upcoming project, Prestige Residence, a serviced apartment with a cumulative of 1,450 units built on 8 acres of land at Seri Kembangan, Selangor with an estimated Gross Development Value (GDV) of RM301 million.

Prestige Residence will be the perfect home, be it for newly established families or empty nesters. Comprising of three types of layouts, with built-up size starting from 600 sqft. to 850 sqft. and a truly affordable starting price of RM270,000. Equipped with a total of 40 facilities and a resident-exclusive 2-storey clubhouse, there will be a plethora of activities to choose from, cultivating healthy family bonding sessions and promote togetherness within the community. The residence also provides easy access to major highways and various key public amenities, such as commercial hubs, financial institutions, international airports, healthcare providers, and many others.

“I have always been a firm believer that our future generation deserves to start their homeownership journey with a house that is affordable while of exceptional quality. Similarly, all LBS homes are built with connectivity in mind as it guarantees employment and education opportunities to its residents. The last pillar, community, is equally crucial, be it for one’s own stay or investing. Prestige Residence is a union of all the three pillars and will be a testament to LBS’ ability to attract first-time homebuyers” said LBS Executive Chairman, Tan Sri Lim Hock San.

The Vacci-Nation Bonanza has been further extended till the end of the year, making it the most ideal time for homebuyers to own their dream home. Through this campaign, LBS will be giving out a total of RM671,120 cash incentives and extra cash incentives of up to RM334,500 for those who are in line for their COVID-19 vaccination or have been vaccinated. LBS Bina has also recently given away RM445,000 worth of prizes in the 1st round of the LBS Fabulous 20-21 campaign lucky draw. Prestige Residence homebuyers who place their order by end of the year will be entitled for the 2nd round of the lucky draw. Prizes will be equally enticing, with amazing prizes such as the Proton X70, Persona, Iriz, Exora and more estimated to be valued at RM750,000 in total ready to be won.

For more information on Prestige Residence, please visit our virtual showroom at or call us at 1700 81 8998 to learn more.



For Immediate Release




Petaling Jaya, 4 October 2021 – LBS Bina Group Berhad (“LBS” or the “Group”) today revealed its wish list for Budget 2022 which will be tabled in Parliament on 29 October 2021.


As a leading affordable housing developer, the Group is continuously strategising ways to help the property industry amidst the Covid-19 pandemic. A strong housing market will have a positive multiplier effect on the economy. Therefore, LBS wishes to propose to the Government the following measures in Budget 2022 to stimulate the housing economy as the nation progresses towards recovery.


  1. Permanent implementation of the Home Ownership Campaign (“HOC”)

The HOC has been a welcome boost for property developers in generating property sales as buyers grew more cautious due to the Covid-19 pandemic. As the country returns to pre-pandemic normality, the Group has first-hand witnessed the positive impact of the HOC on the property market and hopes the Government will consider a permanent implementation of the HOC along with full stamp duty exemption for up to the first RM1 million of the property’s purchase price. This will ensure the entire supply chain of the construction and property development industry will continue to carry on without disruption while buying sentiment remains.


  1. Relaxation of requirements for Malaysia My Second Home (MM2H) Programme

The Group has been a proud supporter of the Government’s MM2H Programme as it has created a positive effect in attracting foreign nationals to settle in Malaysia. While the Group welcomes the relaunch of the MM2H Programme, the Group believes that the recent revisions to the MM2H Programme requirements for new applicants may be too stringent and instead deter foreigners from choosing to work and live in Malaysia. LBS hopes that the Government will consider our suggestions on the newly revised MM2H Programme criteria as follows:

  1. lower the qualifying minimum income for an applicant back to the original RM10,000 per month;
  2. reduce the minimum amount of liquid assets to RM500,000 compared to RM1.5 million;
  • reduce the minimum amount of fixed deposits in a Malaysian bank account to RM300,000 compared to RM1 million; and
  1. maintain the duration of the MM2H pass at 10 years.


The Group believes the proposals above are sufficiently stringent to attract skilled foreign nationals and ensure the continued success of the MM2H Programme.


  1. Incentives for adoption of Industrialised Building System (“IBS”)

The Group is aware that timely handover of vacant possession for properties is an important obligation on their part. Therefore, the Group advocates for the usage of the IBS system, which has been proven to reduce construction time and cost without compromising on the housing quality.


LBS applauds the Government’s initiatives in encouraging the use of IBS by providing investment tax allowances of 60% on qualifying capital expenditure incurred within five years, which can be offset against up to 70% of the statutory income of the company. The Group however hopes that the Government will consider extending these tax incentives to include existing IBS players, rather than ring-fence the incentives to new players only. With this, the Group would be able to channel the further savings to facilitate expansion and increase their research & development (R&D) into growing its use of IBS technology.


  1. Reduction in compliance costs

Developers have seen their business affected by the Covid-19 pandemic, with work being halted intermittently as per Government SOPs. The Group therefore hopes that the Government will introduce measures to assist developers. In particular, LBS wishes for the Government to reduce compliance costs borne by developers for example, reducing development charges, land conversion premiums or strata title application. Any savings from these measures would be hugely beneficial and can be passed on to homebuyers via a more affordable pricing point.


  1. Incentives to counter the rising cost of materials

The fluctuations and rising cost of building materials such as steel and cement will likely have an adverse impact on the cost of housing. To illustrate, the price of steel increased between 25-30% over a two-month period from November 2020 to January 2021. The price volatility increases the pressure on contractors and developers as they are faced with additional costs from both building materials and SOP compliance costs. To counter this, LBS hopes that the Government will consider implementing a levy to reduce costs or introduce strict control prices over building materials. LBS believes this will ensure that developers do not pass on the increased cost of materials to homeowners.


  1. Reduction in minimum threshold for foreign property ownership

The current property overhang situation is a concern for developers. To ease this, the Group hopes that the current price threshold for foreigners seeking to buy a property in Malaysia be reduced to RM500,000 for all states. Moving forward, this enables property developers with high unsold inventories to free up cashflow for other property developments.


  1. Waiver of levy on foreign labours in the construction sector

The construction sector relies heavily on foreign labour to build homes. However, the costs associated with bringing in foreign labour may be high. Therefore, LBS hopes that the Government will consider providing a waiver on the levy for foreign labours. With this, it would help reduce the construction cost which in turn will reduce the development cost of properties thus making homes more affordable.


Commenting on the wish list, LBS Executive Chairman Tan Sri Lim Hock San said, “We hope that Budget 2022 will consist of the right stimulus policies to improve the property development sector as well as support homebuyers’ quest to purchase property. The Government can consider some suggestions from our wish list in order to revive the property market.”


He added, “With the pandemic and implementation of the Movement Control Order (MCO), the market has been sluggish and has caused uncertainty among investors. Thus, hopefully with the right aid from the government, this could lead to an increase in home ownership for Malaysians.”


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When Is the Right Time?

The past decade has witnessed an upward trend in property prices. However, the past two years have taken a halt in the trend due to oversupply and added pressure to keep the prices down caused by the pandemic. Owning a property involves a long time commitment which will affect one financial situation. Much thought is put into it before an individual decides to purchase their first home or even their next one. With the declining market price, multiple campaigns and incentives, is it the right time to purchase? Even if it is for investment purposes, with the uncertainties due to the pandemic, what is the right choice? 

The Home Ownership Campaign (HOC) was reintroduced in 2020 by the Government as an initiative of stimulating the property market and providing financial relief to homeowners. The joint effort between the Housing and Local Government Ministry (KPKT) and Real Estate and Housing Developers’ Association (REHDA) Malaysia aims to help first-time homeowners. Even so, the campaign is open to all Malaysians with no limit on the number of purchases.

There are pros and cons to this campaign. Other than the stamp duty exemption and 10% discount on the price, the Overnight Policy Rate (OPR) is also at its lowest. Do keep in mind, these benefits are only applicable towards newly launched projects and not applicable towards commercial units. Competitive pricing, location, accessibility and safety are among the factors that will influence buyers in making a purchase.

With the implementation of the multiple Movement Control Orders (MCO) in the past years during the pandemic, data have shown that Malaysians are more interested in spacious properties outside of the dense city areas. Landed units with competitive prices have shown higher demands compared to high-rise buildings. 

LBS Bina offers you affordable options to choose from. Terraced houses, townhouses and even serviced apartments. With prices as low as RM250,000 for a unit at KITA Ria serviced apartments, the property offers you a cosy apartment for a close-knit community. This guarded apartment is located in the KITA @ Cybersouth township located within the developing Southern Klang Valley.

Easily accessible via major highways including the Putrajaya-Cyberjaya Expressway through Elite Highway, Maju Expressway (MEX), South Klang Valley Expressway (SKVE), North-South Expressway (NSE), Damansara-Puchong Highway (LDP), and Jalan Dengkil-Banting. Strategically located between Putrajaya and Cyberjaya, KITA @ Cybersouth is close to various key public amenities, such as commercial hubs, financial institutions, governmental administration centre, international airport, healthcare providers, and many others. 

With all the enticing offers in the market, isn’t it the right time for you to make your purchase?


For Immediate Release




Petaling Jaya, 13 September 2021 – LBS Bina Group Berhad (LBS), Malaysia’s renowned developer has successfully launched the 1st lucky draw for the LBS Fabulous 20-21 campaign with more than RM445,000 worth of amazing prizes.


“‘Though the lucky draw had to be postponed due to the pandemic but like initially planned, it will be nothing short of an amazing experience. Buying a house is a huge milestone in one’s life, even more so during the pandemic. Hence, we would like to do more than just providing a quality yet affordable home, and add value in ways that LBS homebuyers will remember for years to come,” said Tan Sri Lim Hock San, Executive Chairman of LBS.


The 1st LBS Fabulous 20-21 lucky draw was aired via LBS’ Facebook Live on 11th September 2021. A total of 4,386 homebuyers were eligible for the 1st lucky draw which comprised of 497 prizes. The selected homebuyers purchased their home with LBS from 1st January 2020 till 30th June 2021.The prizes were drawn by LBS Executive Chairman, Tan Sri Lim Hock San, Managing Director, Datuk Wira Joey Lim Hock Guan, and respective directors namely, Datuk Dr. Haji Baharum Bin Haji Mohamed, Datuk Tony Lim Tong Lee, Dato’ Lim Han Boon, and Datuk Lim Si Cheng. To ensure a fair and just conduct throughout the lucky draw, the event was witnessed by a partner from the legal firm – Steven Tai, Wong & Partners.


The grand prizes have been upscaled this time round, with the addition of the Proton X50 1.5L Executive. Other exciting prizes include the Proton Persona, Proton Iriz, SM Sport 110 motorcycles, mountain bikes, iPad Mini, Dell notebook, washing machines, refrigerators, hi-fi system, and many more.


For those who have yet to win any prizes, do stay tuned as there will be another round of lucky draw with LBS Fabulous 20-21. Those who did not win anything in the 1st round are automatically rolled over to the 2nd draw, (Valid SPA between 1st Jan 2020 to 31st Dec 2021). All LBS homebuyers who purchased properties above RM250,000 from LBS’ list of participating properties from 1st January 2020 till 31 December 2021 will be entitled for the 2nd round of the lucky draw. The prizes will be equally enticing and are estimated to be valued at RM750k. So, wait no further, check out LBS’ list of participating properties and stay versed in at LBS official social media pages for updates to stand a chance to win amazing prizes.


Kindly visit or call 1700 81 8998 to find more information on the LBS Fabulous 20-21 campaign.



For Immediate Release



  • First six months revenue RM668 million increased 43%
  • Unbilled Sales RM2.25 billion


Petaling Jaya, 30 August 2021 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced its second quarter results for the financial year ending 31 December 2021 (“Q2FYE21”).


For the quarter under review, the Group reported revenue of RM265.9 million, an increase of 59% year-on-year from RM166.9 million in the corresponding period in 2020. The profit before tax (“PBT”) more than doubled to RM25.2 million, as compared to Q2FYE20’s RM10.5 million. The Group further announced that its profit after tax (“PAT”) has increased year-on-year, to RM19.4 million as compared to the RM2.9 million for Q2FYE20. The strong quarterly results were mainly attributed to sustained demand and steady construction progress in the Group’s main business segment of property development, which continued to be the largest contributor to the Group’s earnings.


For the six-month financial period ended 30 June 2021 (“1HFYE21”), the Group registered significant revenue and PAT of RM668.5 million and RM52.3 million respectively, a surge of 43% and 614% as compared to the corresponding period in 2020. LBS maintained its healthy cash and cash equivalents of RM163.6 million in 1HFYE21 compared to RM156.9 million in 1HFYE20.


The Group further announced that it currently has 19 on-going development projects with an estimated Gross Development Value (“GDV”) of RM5.67 billion, land bank for future development of 3,343 acres with an estimated GDV of RM27.2 billion and unbilled sales of RM2.25 billion.


Despite the challenging environment, LBS still recorded commendable sales. As at 29 August 2021, LBS secured a total sales of RM728.3 million and bookings in the pipeline of RM599.8 million, and on track to meet sales target of RM1.2 billion for year 2021.


Commenting on the results, LBS Executive Chairman Tan Sri Lim Hock San said, “I am extremely elated with the Group’s set of results particularly for the half year. Despite the pandemic challenges we managed to achieved strong revenue of RM 668.5 million and PAT of RM52.3 million for the first six months. We will work towards to maintain the earning growth with fully committed efforts in overcoming obstacles and challenges.


He added, “The team has been focusing on the on-going development projects at KITA @ Cybersouth, Alam Awana, Skylake Residence, Residensi Bintang Bukit Jalil and Bandar Putera Indah. More than 77% of the Group’s revenue is derived from our Klang Valley development projects.


Also, technology is now more important than ever. The Group will work towards extending the leverage on technology and increase the digitalisation efforts in order to streamline and increase efficiency within the business operations. Our focus on digitalisation puts us in good stead for the remainder of 2021 as we plan to launch properties worth an estimated Gross Development Value of RM1.22 billion mainly in the Klang Valley area.”


In addition to the above, Tan Sri Lim hopes that the National Immunisation Programme will achieve its goals as this is vital to the recovery of economy.


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For Immediate Release

LBS Virtual Town Hall Meeting 2021

Embracing the New Norm with Digitalization Enhancement

Petaling Jaya, 25 August 2021 – LBS Bina Group Berhad (LBS) officially concluded their annual town hall meeting organized in a fully virtual setting. The primary aim of the meeting was to discuss the challenges faced by the company during the pandemic, how it was resolved, objectives and direction for the year. Though it was a virtual event, the town hall meeting served as a great platform and opportunity for employees to bond and be motivated.

‘‘The year 2021 marks the second year of us combating the pandemic. Albeit these times of uncertainty, LBS managed to pull through and continued to perform at its best. This is all possible thanks to the joint efforts of my team members in LBS Bina. Another contributor to our success would be our digitalization efforts and readiness in embracing this new normal by taking swift action and being interdependence. The road ahead may be challenging but if we continue to do what we do best, which is to provide quality yet affordable homes and improving our services, we will definitely achieve our 2021 sales target,’’ said Tan Sri Lim Hock San, Executive Chairman of LBS.

LBS presented its performance review for the year 2020 and provided updates on the company’s Digital Transformation Roadmap initiatives and other plans moving forward. LBS also recapped its campaign initiated in 2021 thus far namely #Duduk Rumah Deals 2.0 and 3.0, Ox-Picious 8, Raikan Rezeki Bersama LBS, and Vacci-Nation Bonanza, and the plans for the next half of 2021.

The town hall meeting remains to be the company’s official communication platform for both the management and employees to share the company updates and happenings. Approximately 500 employees from LBS Bina Group Berhad including employees from its public listed subsidiaries, MGB Berhad, and Zhuhai International Circuit Limited (ZIC) attended the virtual town hall meeting.



For Immediate Release



All 12 Resolutions Were Approved At The AGM


Petaling Jaya, 3 August 2021 – LBS Bina Group Berhad (“LBS” or the “Group”) today concluded its 21st Annual General Meeting (“AGM”) which was for the first time conducted on a fully virtual basis. LBS announced that all twelve (12) resolutions presented for consideration were passed by its shareholders.


The shareholders approved, amongst others, the payment of a single-tier first and final dividend of 1.45 sen per ordinary share for the financial year ended 31 December 2020 (“Dividend”). The Dividend, amounting to approximately RM22.6 million, will be payable on 22 September 2021 to the shareholders whose names appear in the Record of Depositors on 27 August 2021.


After the AGM, LBS Executive Chairman Tan Sri Lim Hock San commented that he was contented with the positive outcome of the AGM. “We thank the shareholders for their trust and support. They have stayed with us through challenging times we have experienced during the pandemic. We are nevertheless focused on ensuring that LBS puts in a good performance for the second half of the year.


For this year, as at 31 July 2021, we have recorded property sales of RM684 million with bookings in the pipeline of RM651 million, and are on track to meet our target launches of 16 projects which have an estimated gross development value of RM2.1 billion. From a marketing standpoint, we have certainly adapted as we shifted our focus towards our digital marketing efforts in order to cater to the circumstances we are in. We look forward to continue repaying our shareholders as we take LBS forward,” he added.


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