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LBS Media Briefing 2023 | Tan Sri Lim Hock San Exclusive Interviews

During the annual LBS Media Briefing for 2023, Tan Sri Lim Hock San participated on exclusive television interviews with TV3, 8TV, Astro Awani and Vanakkam Malaysia. He shared with on The Group’s performance on 2022 and overview for 2023.

The Blind Spots (Or Hidden Costs) When Buying A Home In Malaysia

The Blind Spots (Or Hidden Costs) When Buying A Home In Malaysia

Is one of your new year resolutions for 2023 purchasing a house of your own? Pretty confident that you’ve done the math? We hate to be your party-pooper, but as much as we are proud of you making that leap in life, we believe that you need to be made aware of homeownership costs that may have fallen under your radar. So, we have listed down different hidden costs that we wish we knew when purchasing our first property:

1. Upfront costs & legal fees

By now, you should be made known that our banks can provide financial assistance of up to 90% of the property’s price for your first two residential properties. For those purchasing your first one, the Rumah IDAMAN should be in your list! With the 90% covered for, we will still need to set aside a 10% down payment to cover the remaining property’s price. For instance, the Rumah IDAMAN has a starting price of RM250,000, and so, the down payment in this case will be RM25,000.

The following are the items you need to find out the cost of and are dependent on your property price:

Sale & Purchase Agreement (SPA)

This consists of legal fees, stamp duty and legal disbursement fees.

Loan agreement

This comprises of legal fees, stamp duty and legal disbursement fees.

Transfer of ownership better known as memorandum of transfer (MOT)

Tax on legal agreements

These are expenditures that need to be paid there and then, so it is an absolute must to have the said sum at hand upon making the decision to purchase a home.


2. Home Insurance

To be fair, home insurance is a topic that deserves its very own article no thanks to the sheer amount of information that you need to get your hands on, so we will only be covering on this topic very briefly here.

Similar to having insurance for your health is equally important as getting a health insurance to protect yourself against unforeseeable events. Buying a home is also a form of investment and just like any other investments, you will want to have proper protection in place to cover your property.

Here are some common home insurance policies that you should know about;

Basic fire insurance: Loss or damage of the house and/or its contents due to fire, lightning, and/or explosion.

Houseowner insurance: Similar to Basic Fire Policy, with extended coverage such as floods, burst pipes, natural disasters, and theft for residential properties.

Householder insurance: Similar to Houseowner Policy, with extended coverage on fatal injuries caused by the insured items.

3. Utility charges

To ensure that your future home is ready-to-stay you will need certain basic utilities and services, such as:

  • Electricity – Tenaga Nasional Berhad (TNB)
  • Water
  • Indah Water – Sewerage
  • Internet connection


4. Maintenance fee and sinking funds

If the home that you are eyeing for holds a strata title, such as high-rise units where you share common public facilities like the swimming pool and the gym, you have to set aside some cash for monthly maintenance fees, which will be used for regular upkeeping of the shared facilities and services, including security and garbage disposal.

You will also need to set aside money for sinking funds. The fee is collected by your residential Joint Management Body (JMB) and will be used for expenses such as building repair works. We’ve covered this topic more extensively on our previous topic here. 


5. Makeover, Renovation, & Aftercare

Regardless the condition of the property you intend to purchase, you need to consider both the immediate costs for personalizing it to your liking and the maintenance of it.

Of course, with a larger property, comes a larger price tag for furnishings. So, perhaps, bigger may or may not be necessarily better, it all boils down to your needs.

Do allocate certain amount for renovation, but for LBS Bina homebuyers and homeowners, you are in luck, as LBS has officially launched the LBS Bina Home Makeover with Goodnitecampaign. In this campaign lucky LBS homeowners will win themselves a home makeover for a part of your home that you desire, from the Living to Bedroom area worth a total of RM25,000 each!

Should you be buying a subsale property that also includes furniture as part of the package, make sure you are okay with everything that comes with it, because should that particular piece of furniture happen to become an eyesore down the road, it will cost you some cash to hire someone to move it away later on.

All these lingos might be overwhelming, but what’s most important is not to be afraid from these expenditures but to be aware that they exist. Treat all of the above more as a checklist and tick it off every time you’ve gotten a proper understanding of each expenditure.

With every item checked off your list, your finances will definitely be more well-structured. A very important element of a dream home is to have a homeownership experience that is free from expenses that will take you off guard and we hope for those of you who’ve read till this point, you will achieve just that and we wish you the very best on your homeownership journey!

New Year, New Goals



According to Johnson, (2022), there is no cut-off date for when you should officially stop wishing people a Happy New Year. However, as January rolls around and you bump into people you didn’t see over the new year, you may find yourself wishing them a Happy New Year.  Although this frequently happens, you’ll probably find that you stop naturally saying it as the first month of the new year comes to an end.

LBS Bina Group Berhad kick-started the new year 2023 with a successful annual media briefing spearheaded by Corporate Communication, Media & Digital Department. It was announced that in the year 2023, LBS is planning to launch 12 new projects which will cover the Klang Valley, Johor, Pahang, and Perak states, with a total GDV of RM2.09 billion and 4,021 cumulative units.

The Group is looking forward to achieving greater possibilities and beyond amidst global challenges as they welcomed 2023 with their annual town hall held at the LBS headquarters to share the company’s objectives and direction for the year 2023.

The theme for this year’s Town Hall meeting is (Tu) Possibilities & Beyond!, which depicts the eagerness to embrace growth and look out for new strategies in expanding LBS. The Group believes there are boundless possibilities and opportunities that will be achievable if one works harder and smarter. The Chinese word “兔” sounds alike to “To” and the Rabbit zodiac represents smart, clever an agile, aligned with the year of rabbit.

In line with the theme, LBS plans to continue embracing digitalisation as they have continued seeing great success and growth in this aspect, particularly prior to the pandemic outbreak and is one of the elements which aid LBS to pull through during the most difficult national outbreak. Today, the Group is set out to spearhead digitalisation in the property developer market.

The management of LBS, led by our beloved Executive Chairman, Tan Sri Lim Hock San, is confident that with the staff’s continuous support and by consistently offering exciting projects to customers, the Group will be able to achieve the sales target of RM2 billion they have set for this year.

Meanwhile, our LBS Iron Lady, Dato’ Cynthia Lim, highlighted that LBS will continue to improve on company culture in 2023. She understands that an organisation that is multi-generations looks great on paper but is bound to have inevitable communication barriers. Company culture is a vital aspect for LBS and they have made it a point to understand all generations of employees. The Group look forward to keep on progressing and growing beyond their imagination as LBS continues to embrace the differences between generations and learn to cohesively work together.

“Write in your heart that every day is the best day in the year.”  (Emerson)

Happy New Year 2023!

– End –

MGB Berhad Signing With Sany Alameriah

Today, MGB Berhad (MGB), a subsidiary of LBS Bina Group Berhad, had an MOU signing ceremony between MGB Berhad and Sany Alameriah For Construction Co., Ltd. (Saudi Arabia) to design and build 10,000 residential properties under the Government Sakani Programme and operate a precast factory in Jeddah, The Kingdom of Saudi Arabia.


MGB Executive Vice Chairman, Tan Sri Lim Hock San and MGB Group Managing Director, Datuk Wira Joey Lim represented MGB Berhad, while Mr. Bandar Mohammad Al Amre and Mr. Tarek Amri represented SANY Alameriah.

LBS Town Hall 2023

LBS Bina Group Berhad officially concluded their annual Town Hall Meeting with “Tu” Possibilities & Beyond as their theme for the 2023. As a platform to strengthen the bond between staff and management, the meeting also highlighted the challenges and achievements for 2022.

LBS Media Briefing 2023

On the 10th of January 2023, LBS held its annual media briefing. LBS closed off 2022 with RM2.0 billion in property sales, surpassing their 2022 property sales target of RM1.6 billion by 25% plans to launch 12 new projects in 2023 – which will cover the Klang Valley, Johor, Pahang, and Perak states, with a total GDV of RM 2.09 billion and 4,021 cumulative units.

2023 Chinese New Year Wish from Tan Sri Lim Hock San

Here’s a special wish from our Executive Chairman, Tan Sri Lim Hock San,

May this CNY Festive bring in your life the goodness of peace and happiness. 

Happy Chinese New Year from LBS Bina Group Berhad.






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Vox Pop : It is bad luck to wash hair on CNY Day! [2023 CNY]

Due to Malaysia’s rich and diverse culture, the Lunar New Year is celebrated immediately following Christmas and New Year’s celebrations.

The to-do list includes red packets, spring cleaning, and shopping. 

Since the Spring Festival and the new year are just getting started, whatever you do at that time is thought to affect your luck for the upcoming year.

So how well-versed are you with Chinese New Year? Here’s a few fun facts about Chinese New Year that you should definitely know!🎋






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Do drop some comments on your thoughts and maybe some interesting topics we can look into!

Vox Pop Sustainability : How much do you know about Corporate Sustainability?

like ours can create long-term value by operating in an ecological, social, and economic environment.

In Episode 2 of VoxPop Sustainability, Andrea will be bringing us to explore what exactly is The Corporate Perspective of Sustainability!I

Find out more at:






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Do drop some comments on your thoughts and maybe some interesting topics we can look into!