LBS Records All-Time High Net Profit

21 February 2024

For Immediate Release

LBS RECORDS ALL-TIME HIGH NET PROFIT

  • Q4FYE2023 and FYE2023 revenue increase 58.9% and 6.0% respectively 
  • Q4FYE2023 and FYE2023 PAT rose 31.2% and 15.6% respectively
  • FYE2023 property sales at RM1.7 billion
  • RM2.0 billion unbilled sales as at 31 December 2023

 

Petaling Jaya, 21 February 2024 – LBS Bina Group Berhad (“LBS” or the “Group”) announced its unaudited financial results for the fourth quarter (“Q4FYE2023”) and full year ended 31 December 2023 (“FYE2023”) today. 

 

For the quarter under review, LBS achieved revenue of RM596.7 million, marking a significant increase of 58.9% compared to the corresponding quarter last year, which recorded RM375.6 million. This notable surge in revenue was predominantly attributed to the property development segment’s 60.2% increase, which contributed RM571.2 million to the total revenue. The Group’s profit after tax (“PAT”) also experienced a considerable rise, reaching RM41.1 million, translating to a surge of 31.2%.

 

For the full year 2023, LBS achieved a PAT of RM159.0 million, reflecting a year-on-year increase of 15.6%. This growth was supported by a 6.0% rise in revenue, reaching RM1.83 billion. The surge was attributable to increased development activities across ongoing projects. 

 

The property development segment, maintaining its position as the Group’s primary revenue contributor, accounted for 95.9% of the total revenue. Key development projects, such as KITA @ Cybersouth, Bukit Jalil projects, LBS Alam Perdana, Idaman projects and Prestige Residence, played a significant role in driving this revenue increase. 

 

Commenting on the financial performance, LBS Group Executive Chairman Tan Sri Dato’ Sri  Ir. (Dr.) Lim Hock San said, “We are thrilled to announce that LBS has delivered outstanding financial results for the year 2023, with RM1.83 billion in revenue, marking the Group’s highest achievement to date. These positive financial results present a solid foundation for us to build upon as we embark on the next phase of our journey.

 

We are excited and cautiously optimistic about the growth momentum over the coming years. The unbilled sales of RM2.0 billion will continue to provide the Group with a healthy earnings outlook for the next 2 to 3 years. Currently, LBS is involved in 19 ongoing projects. Our target for this year is to achieve RM1.8 billion in property sales buoyed by various developments with a GDV of RM3.51 billion, built across strategic locations including Klang Valley, Johor, Pahang and Perak.” 

 

He further added, “At LBS, we are dedicated to ensuring good environmental, social and governance (“ESG”) practices. Our Sustainability Financing Framework has been assigned a “GOLD” Impact Bond Assessment by MARC Ratings Berhad which is a testament to our ESG commitment. With the Green Mission programme targeting biodiversity, energy, water and waste management, along with a partnership with Malaysia Green Technology and Climate Change Corporation for green projects, we aim to achieve net zero carbon emission by 2050, in line with the National Energy Transition Roadmap (NETR).”

 

As of 31 December 2023, the Group’s land bank covers approximately 2,767 acres ensuring a strategic reserve for the next 10 to 15 years.

-End-

For Immediate Release

LBS RECORDS ALL-TIME HIGH NET PROFIT

  • Q4FYE2023 and FYE2023 revenue increase 58.9% and 6.0% respectively 
  • Q4FYE2023 and FYE2023 PAT rose 31.2% and 15.6% respectively
  • FYE2023 property sales at RM1.7 billion
  • RM2.0 billion unbilled sales as at 31 December 2023

 

Petaling Jaya, 21 February 2024 – LBS Bina Group Berhad (“LBS” or the “Group”) announced its unaudited financial results for the fourth quarter (“Q4FYE2023”) and full year ended 31 December 2023 (“FYE2023”) today. 

 

For the quarter under review, LBS achieved revenue of RM596.7 million, marking a significant increase of 58.9% compared to the corresponding quarter last year, which recorded RM375.6 million. This notable surge in revenue was predominantly attributed to the property development segment’s 60.2% increase, which contributed RM571.2 million to the total revenue. The Group’s profit after tax (“PAT”) also experienced a considerable rise, reaching RM41.1 million, translating to a surge of 31.2%.

 

For the full year 2023, LBS achieved a PAT of RM159.0 million, reflecting a year-on-year increase of 15.6%. This growth was supported by a 6.0% rise in revenue, reaching RM1.83 billion. The surge was attributable to increased development activities across ongoing projects. 

 

The property development segment, maintaining its position as the Group’s primary revenue contributor, accounted for 95.9% of the total revenue. Key development projects, such as KITA @ Cybersouth, Bukit Jalil projects, LBS Alam Perdana, Idaman projects and Prestige Residence, played a significant role in driving this revenue increase. 

 

Commenting on the financial performance, LBS Group Executive Chairman Tan Sri Dato’ Sri  Ir. (Dr.) Lim Hock San said, “We are thrilled to announce that LBS has delivered outstanding financial results for the year 2023, with RM1.83 billion in revenue, marking the Group’s highest achievement to date. These positive financial results present a solid foundation for us to build upon as we embark on the next phase of our journey.

 

We are excited and cautiously optimistic about the growth momentum over the coming years. The unbilled sales of RM2.0 billion will continue to provide the Group with a healthy earnings outlook for the next 2 to 3 years. Currently, LBS is involved in 19 ongoing projects. Our target for this year is to achieve RM1.8 billion in property sales buoyed by various developments with a GDV of RM3.51 billion, built across strategic locations including Klang Valley, Johor, Pahang and Perak.” 

 

He further added, “At LBS, we are dedicated to ensuring good environmental, social and governance (“ESG”) practices. Our Sustainability Financing Framework has been assigned a “GOLD” Impact Bond Assessment by MARC Ratings Berhad which is a testament to our ESG commitment. With the Green Mission programme targeting biodiversity, energy, water and waste management, along with a partnership with Malaysia Green Technology and Climate Change Corporation for green projects, we aim to achieve net zero carbon emission by 2050, in line with the National Energy Transition Roadmap (NETR).”

 

As of 31 December 2023, the Group’s land bank covers approximately 2,767 acres ensuring a strategic reserve for the next 10 to 15 years.

-End-

LBS Town Hall Meeting 2024 – Celebrating Diversity and Unity within the LBS Community

9 February 2024

For Immediate Release

LBS Town Hall Meeting 2024

Celebrating Diversity and Unity within the LBS Community

 

Petaling Jaya, 9 February 2024 – LBS Bina Group Berhad (“LBS” or the “Group”), a renowned developer guided by people-first values, hosted its annual town hall meeting on 6 February 2024, marking a significant milestone by incorporating a celebrative cultural feast for the first time.

The event marked a memorable celebration for employees at SJK (C) Sg. Way, the inaugural venue for the town hall meeting initiated in 2012. Over the years, LBS has witnessed remarkable growth, evolving from a team of 160 to a substantial workforce of over 800 employees.

Under the central theme of ‘Celebrating Diversity and Strengthening Unity,’ the occasion represented a significant milestone in fostering an inclusive community. Employees adorned themselves in traditional attire, emphasizing the sense of unity within the LBS family. The event commenced with a dignified Traditional Lion Dance on stage, setting the tone for a series of cultural activities and performances.

Noteworthy participants included representatives from the publicly listed subsidiary MGB Berhad and Zhuhai International Circuit Limited (ZIC), contributing to the overall festive ambiance and prosperity of the celebration. The event encapsulated a professional atmosphere, highlighting LBS’s commitment to both corporate excellence and cultural appreciation.

The successful engagement is indeed a reflection of the company’s growth in being able to bridge a cultured community through the power of flexibility, adaptability, and mutual respect nurtured among each other.

Tan Sri Ir. (Dr.) Lim Hock San, Group Executive Chairman of LBS and MGB Berhad, said, “2023 was an achievement-filled year applicable in both personal, cultural, and corporate contexts. Similarly, I envision the team to continue staying united not just as the employees of LBS but as a talented family which will continue our success journey ahead.”

The focal point of the meeting brought to light the key priorities for 2024, encompassing strategy, innovation, culture, and financial governance, all centred around one objective: Sustainability. This underscores our ongoing commitment to nurture and cultivating a sustainable workforce, aligning with the company’s broader mission to contribute significantly to the community through the progressive green building practices.

The stage also featured insights on advanced AI, digitalization, and construction technology initiatives. These endeavours hold the potential to position our organization as a prominent leader in the Construction Industry 4.0, reflecting our dedication to staying at the forefront of industry trends and advancements.

Furthermore, LBS will navigate its journey through its ESG initiatives set for the year. Sustainability stands as a critical component of Malaysia’s current development landscape, and LBS is poised to share its efforts in kick-starting its action plan towards achieving net-zero carbon emissions by 2050.

“Our success is not merely measured in numbers but through the sustainable impact we create for our community.  To achieve this vision, we recognize the imperative of cultivating a sustainable workplace culture from within as employers. We are committed to providing our employees with the necessary platforms and opportunities, be it through educational initiatives, training programs, or the creation of a flexible environment that enables them to thrive and adapt. This empowerment will enable them to drive the sustainable impact we aspire to have within the community” says Dato’ Cynthia Lim, the Executive Director.

-End-

For Immediate Release

LBS Town Hall Meeting 2024

Celebrating Diversity and Unity within the LBS Community

 

Petaling Jaya, 9 February 2024 – LBS Bina Group Berhad (“LBS” or the “Group”), a renowned developer guided by people-first values, hosted its annual town hall meeting on 6 February 2024, marking a significant milestone by incorporating a celebrative cultural feast for the first time.

The event marked a memorable celebration for employees at SJK (C) Sg. Way, the inaugural venue for the town hall meeting initiated in 2012. Over the years, LBS has witnessed remarkable growth, evolving from a team of 160 to a substantial workforce of over 800 employees.

Under the central theme of ‘Celebrating Diversity and Strengthening Unity,’ the occasion represented a significant milestone in fostering an inclusive community. Employees adorned themselves in traditional attire, emphasizing the sense of unity within the LBS family. The event commenced with a dignified Traditional Lion Dance on stage, setting the tone for a series of cultural activities and performances.

Noteworthy participants included representatives from the publicly listed subsidiary MGB Berhad and Zhuhai International Circuit Limited (ZIC), contributing to the overall festive ambiance and prosperity of the celebration. The event encapsulated a professional atmosphere, highlighting LBS’s commitment to both corporate excellence and cultural appreciation.

The successful engagement is indeed a reflection of the company’s growth in being able to bridge a cultured community through the power of flexibility, adaptability, and mutual respect nurtured among each other.

Tan Sri Ir. (Dr.) Lim Hock San, Group Executive Chairman of LBS and MGB Berhad, said, “2023 was an achievement-filled year applicable in both personal, cultural, and corporate contexts. Similarly, I envision the team to continue staying united not just as the employees of LBS but as a talented family which will continue our success journey ahead.”

The focal point of the meeting brought to light the key priorities for 2024, encompassing strategy, innovation, culture, and financial governance, all centred around one objective: Sustainability. This underscores our ongoing commitment to nurture and cultivating a sustainable workforce, aligning with the company’s broader mission to contribute significantly to the community through the progressive green building practices.

The stage also featured insights on advanced AI, digitalization, and construction technology initiatives. These endeavours hold the potential to position our organization as a prominent leader in the Construction Industry 4.0, reflecting our dedication to staying at the forefront of industry trends and advancements.

Furthermore, LBS will navigate its journey through its ESG initiatives set for the year. Sustainability stands as a critical component of Malaysia’s current development landscape, and LBS is poised to share its efforts in kick-starting its action plan towards achieving net-zero carbon emissions by 2050.

“Our success is not merely measured in numbers but through the sustainable impact we create for our community.  To achieve this vision, we recognize the imperative of cultivating a sustainable workplace culture from within as employers. We are committed to providing our employees with the necessary platforms and opportunities, be it through educational initiatives, training programs, or the creation of a flexible environment that enables them to thrive and adapt. This empowerment will enable them to drive the sustainable impact we aspire to have within the community” says Dato’ Cynthia Lim, the Executive Director.

-End-

Royalty Grace Majlis Menjunjung Kasih

24 January 2024

For Immediate Release

Royalty Grace ‘Majlis Menjunjung Kasih’ LBS Ascends to New Horizons in the Year of the Dragon

Petaling Jaya, 24 January 2024 – LBS Bina Group Berhad (“LBS”) hosted a Majlis Menjunjung Kasih and Chinese New Year Hi-Tea at Shangri-La Kuala Lumpur, graced by the august presence of His Majesty, KDYMM Seri Paduka Baginda The Yang Di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah, accompanied by DYMM Seri Paduka Baginda The Raja Permaisuri Agong, Tunku Hajah Azizah Aminah Maimunah Iskandariah binti Almarhum Al-Mutawakkil Alallah Sultan Iskandar Al-Haj.

Tan Sri Ir (Dr) Lim Hock San, Group Executive Chairman of LBS Group Berhad, conveyed heartfelt gratitude for the devoted service of the King and Queen, praising their commitment, wisdom, and compassion in leading Malaysia. The joyous occasion was complemented with the presence of HRH Crown Prince of Pahang, Tengku Mahkota Tengku Hassanal Ibrahim Alam Shah Ibni Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, Tuan Yang Terutama Tun Datuk Seri Utama Mohd Khalil bin Yaakob, the 6th Former TYT of Malacca, YB Tan Sri Dato’ (Dr) Johari Bin Abdul, Speaker of Dewan Rakyat, YB Senator Tengku Dato’ Sri Utama Zafrul Tengku Abdul Aziz, Minister of International Trade,  YAB Datuk Seri Utama Abdul Rauf Bin Yusoh, Chief Minister of Malacca, and Deputy Speaker of the Dewan Rakyat, YB Puan Alice Lau Kiong Yieng, alongside 500 esteemed guests.

Tan Sri Lim expressed profound gratitude to the entire LBS family, including staff, shareholders, business partners, and media associates, recognizing their continuous commitment and pivotal role in the collective triumphs of the organization. As a beacon of people-first principles, LBS remains steadfast in its commitment to fostering unity and providing accessible, high-quality housing solutions.  This commitment aligns with our corporate social responsibility, including the ambitious goal of achieving net-zero carbon emissions by 2050.

To the leaders, friends, and families gracing us with their presence today, I extend heartfelt wishes for a year filled with abundance, opulence, and good fortune. The dedication of Your Majesties to the people, promotion of unity, and progressive development in our nation have left a remarkable impact and will be remembered by the nation for years to come,” concluded Tan Sri Lim

-End-

For Immediate Release

Royalty Grace ‘Majlis Menjunjung Kasih’ LBS Ascends to New Horizons in the Year of the Dragon

Petaling Jaya, 24 January 2024 – LBS Bina Group Berhad (“LBS”) hosted a Majlis Menjunjung Kasih and Chinese New Year Hi-Tea at Shangri-La Kuala Lumpur, graced by the august presence of His Majesty, KDYMM Seri Paduka Baginda The Yang Di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah, accompanied by DYMM Seri Paduka Baginda The Raja Permaisuri Agong, Tunku Hajah Azizah Aminah Maimunah Iskandariah binti Almarhum Al-Mutawakkil Alallah Sultan Iskandar Al-Haj.

Tan Sri Ir (Dr) Lim Hock San, Group Executive Chairman of LBS Group Berhad, conveyed heartfelt gratitude for the devoted service of the King and Queen, praising their commitment, wisdom, and compassion in leading Malaysia. The joyous occasion was complemented with the presence of HRH Crown Prince of Pahang, Tengku Mahkota Tengku Hassanal Ibrahim Alam Shah Ibni Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, Tuan Yang Terutama Tun Datuk Seri Utama Mohd Khalil bin Yaakob, the 6th Former TYT of Malacca, YB Tan Sri Dato’ (Dr) Johari Bin Abdul, Speaker of Dewan Rakyat, YB Senator Tengku Dato’ Sri Utama Zafrul Tengku Abdul Aziz, Minister of International Trade,  YAB Datuk Seri Utama Abdul Rauf Bin Yusoh, Chief Minister of Malacca, and Deputy Speaker of the Dewan Rakyat, YB Puan Alice Lau Kiong Yieng, alongside 500 esteemed guests.

Tan Sri Lim expressed profound gratitude to the entire LBS family, including staff, shareholders, business partners, and media associates, recognizing their continuous commitment and pivotal role in the collective triumphs of the organization. As a beacon of people-first principles, LBS remains steadfast in its commitment to fostering unity and providing accessible, high-quality housing solutions.  This commitment aligns with our corporate social responsibility, including the ambitious goal of achieving net-zero carbon emissions by 2050.

To the leaders, friends, and families gracing us with their presence today, I extend heartfelt wishes for a year filled with abundance, opulence, and good fortune. The dedication of Your Majesties to the people, promotion of unity, and progressive development in our nation have left a remarkable impact and will be remembered by the nation for years to come,” concluded Tan Sri Lim

-End-

LBS Successfully Issues its First Tranche of Asean Social Sri Sukuk Wakalah

23 January 2024

For Immediate Release

 

LBS SUCCESSFULLY ISSUES ITS FIRST TRANCHE OF ASEAN SOCIAL SRI SUKUK WAKALAH

Petaling Jaya, 23 January 2024 – A renowned people’s first developer, LBS Bina Group Berhad (“LBS” or the “Group”) is pleased to announce that it has successfully issued its first tranche of ASEAN Social SRI Sukuk Wakalah of RM200.0 million in nominal value (“First Tranche”) under its newly established RM750.0 million Sukuk Wakalah Programme (“Programme”). The Programme is rated AA-IS with stable outlook by MARC Ratings Berhad. 

 

The First Tranche was priced at a yield of 5.00% with a periodic distribution rate of 5.00% per annum. The First Tranche is secured and has a tenure of 5 years from the issue date, maturing on 23 January 2029. The final order book for the First Tranche was approximately RM1.276 billion, representing an oversubscription rate of 6.38 times. This highlights a robust investor demand and confidence towards the LBS story. The order book was also anchored by institutional demand – a testament to the governance and track record of the Group.

 

LBS Group Executive Chairman Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San commented, “At LBS, we are committed to provide for the betterment of our community by creating a sustainable living, working and recreational environment. This promise and commitment are further reaffirmed with our approach to strike a balance between our business goals and the integration of sustainable business practices, taking environmental and social concerns into consideration. Therefore, the successful issuance of this tranche of ASEAN Social SRI Sukuk Wakalah certainly marks a positive milestone for LBS as we steer into the new year. In line with our Sustainability Financing Framework, the ASEAN Social SRI Sukuk Wakalah will provide LBS with adequate war chest to continue undertaking social projects focusing on sustainability as a roadmap to success.”

 

He added, “LBS is the first real estate developer in Malaysia to issue an ASEAN Social SRI Sukuk Wakalah with its proceeds to be tagged to affordable housing. Given the growing demand for affordable housing in Klang Valley and other parts of the country, LBS’ aspiration to expand the supply of affordable housing will facilitate and encourage home ownership, which will help bolster Malaysia’s real estate market. The construction of affordable residential housing will also increase the social value of LBS’ development projects, encourage social inclusion while acting as a catalyst for regeneration and community cohesion.” 

 

HSBC Amanah Malaysia Berhad (“HSBC Amanah”) and RHB Investment Bank Berhad (“RHB Investment”) are the joint principal advisers and joint lead arrangers of the Programme. HSBC Amanah is also the sustainability structuring coordinator and shariah adviser of the Programme. In addition, HSBC Amanah, Maybank Investment Bank Berhad and RHB Investment are the joint lead managers for the First Tranche.

-End-

For Immediate Release

 

LBS LOOKS FORWARD TO A POSITIVE 2024

 

Petaling Jaya, 4 January 2024 – LBS Bina Group Berhad (“LBS” or the “Group”), a developer guided by people-first values, anticipates a prosperous 2024 with the unveiling of its property sales target set at RM1.8 billion. The Group concluded 2023 with RM1.701 billion in property sales.

 

The LBS 2024 annual media briefing, attended by over 100 media associates today at the LBS Headquarters, revealed the company’s plans to launch 10 new projects in 2024 across Klang Valley, Johor, and Pahang. The target launches encompass 4,858 units with a total Gross Development Value (“GDV”) of RM2.33 billion.

 

Within the Klang Valley, LBS will concentrate on launching 2,960 units with a total GDV of RM 1.14 billion. The Klang Valley region has consistently contributed the highest sales to LBS over the years, averaging more than 80%. Of these 2,960 units, the Group plans to launch 1,048 units with a total GDV of RM303 million in Idaman Perdana, located in LBS Alam Perdana.

 

Additionally, LBS, in collaboration with its construction arm, MGB Berhad, will introduce the Rumah Idaman MBI (Idaman Cahaya 3) apartment block (413 units with a total GDV of RM117 million), double-storey terrace houses at Astella (79 units with a total GDV of RM75.6 million), and the SkyRia serviced-apartment block at D’Island Residence (999 units with a total GDV of RM441 million).

 

Moreover, the Group plans to launch 421 units, comprising an apartment and a townhouse in Bandar Saujana Putra, with a total GDV of RM205 million.

 

New launches within the Pahang region include the Bayu Hills serviced apartment in Genting Highland (642 units with a total GDV of RM452 million) and 66 bungalow units at Rimbawan Acacia Garden, Genting Highland, with a total GDV of RM103 million. In addition, LBS plans to launch the largest mixed development in the region, featuring the most extensive collection of serviced apartments and commercial offerings (shops and restaurants) at Centrum Iris, Cameron Centrum, Cameron Highlands.

 

In addition, LBS has upcoming launches in Johor, including 63 double-storey semi-detached houses at Imperial Garden in Bandar Putera Indah, Batu Pahat, Johor, with a total GDV of RM43 million. The launches also comprise Pangsapuri Saujana Indah apartment in Taman Molek, consisting of 393 units with a GDV of RM177 million.

 

As a point of comparison, LBS had launched 4,358 units worth RM1.67 billion in 2023. Launches for 2023 included developments across KITA Bestari in KITA @ Cybersouth, Astella terrace houses at the D’Island Residence in Puchong, and Block B of Prestige Residence in Seri Kembangan. In addition, LBS successfully launched and held a groundbreaking ceremony for Idaman Cahaya in Shah Alam and Idaman Sari in Puchong respectively this year.

 

Currently, LBS is actively engaged in 19 ongoing development projects, collectively estimated to have a GDV of RM5 billion. As of 31 December 2023, LBS’ landbank spans approximately 2,767 acres, a substantial reserve expected to keep the Group occupied for the next 10 to 15 years. Furthermore, the Group has unbilled sales totalling around RM 1.99 billion, ensuring a clear and robust earnings outlook for the next two to three years.

 

Speaking at LBS 2024 Media Briefing, Executive Chairman Tan Sri Ir (Dr) Lim Hock San said, “We are excited to kickstart 2024 on an optimistic footing and we look forward to a positive 2024. Reflecting back, LBS consistently and cautiously launched projects throughout 2023. In fact, LBS had to push back a few launches to this year taking into account market sentiments and economic conditions, which led to a slight dip in our property sales. Nevertheless, we remain focused on delivering our targets for this year. A key highlight is our successful delivery of vacant possession for 4,872 units, worth RM 2.40 billion.

 

Anticipating a positive outlook for the property market in 2024, we will persist in upholding our 3 core main pillars of Affordability, Connectivity, and Community. The Group is motivated to rise to the challenge of delivering developments in strategic locations while maintaining affordable prices to meet homebuyers’ needs and earn their trust. ‘As a developer with people-first values, there are exciting prospects ahead as we strive to launch properties worth a total GDV of RM2.33 billion across various states. We will continue to monitor the market and implement appropriate strategies to ensure our operations are not disrupted. We remain optimistic of our growth prospects for 2024.”

 

He added, “The Group maintains a steadfast focus on ESG (Environmental, Social, and Governance) initiatives, considering them to be a pivotal priority. LBS will continue to seek opportunities to further enhance its ESG profile, aligning with the objective of achieving net carbon zero emissions by 2050. In addition, we aim to continuously reward our shareholders in accordance with our dividend policy which is to pay out 30% of the profit after tax and non-controlling interest.”

 

-End-

LBS Looks Forward to a Positive 2024

4 January 2024

For Immediate Release

 

LBS LOOKS FORWARD TO A POSITIVE 2024

 

Petaling Jaya, 4 January 2024 – LBS Bina Group Berhad (“LBS” or the “Group”), a developer guided by people-first values, anticipates a prosperous 2024 with the unveiling of its property sales target set at RM1.8 billion. The Group concluded 2023 with RM1.701 billion in property sales.

 

The LBS 2024 annual media briefing, attended by over 100 media associates today at the LBS Headquarters, revealed the company’s plans to launch 10 new projects in 2024 across Klang Valley, Johor, and Pahang. The target launches encompass 4,858 units with a total Gross Development Value (“GDV”) of RM2.33 billion.

 

Within the Klang Valley, LBS will concentrate on launching 2,960 units with a total GDV of RM 1.14 billion. The Klang Valley region has consistently contributed the highest sales to LBS over the years, averaging more than 80%. Of these 2,960 units, the Group plans to launch 1,048 units with a total GDV of RM303 million in Idaman Perdana, located in LBS Alam Perdana.

 

Additionally, LBS, in collaboration with its construction arm, MGB Berhad, will introduce the Rumah Idaman MBI (Idaman Cahaya 3) apartment block (413 units with a total GDV of RM117 million), double-storey terrace houses at Astella (79 units with a total GDV of RM75.6 million), and the SkyRia serviced-apartment block at D’Island Residence (999 units with a total GDV of RM441 million).

 

Moreover, the Group plans to launch 421 units, comprising an apartment and a townhouse in Bandar Saujana Putra, with a total GDV of RM205 million.

 

New launches within the Pahang region include the Bayu Hills serviced apartment in Genting Highland (642 units with a total GDV of RM452 million) and 66 bungalow units at Rimbawan Acacia Garden, Genting Highland, with a total GDV of RM103 million. In addition, LBS plans to launch the largest mixed development in the region, featuring the most extensive collection of serviced apartments and commercial offerings (shops and restaurants) at Centrum Iris, Cameron Centrum, Cameron Highlands.

 

In addition, LBS has upcoming launches in Johor, including 63 double-storey semi-detached houses at Imperial Garden in Bandar Putera Indah, Batu Pahat, Johor, with a total GDV of RM43 million. The launches also comprise Pangsapuri Saujana Indah apartment in Taman Molek, consisting of 393 units with a GDV of RM177 million.

 

As a point of comparison, LBS had launched 4,358 units worth RM1.67 billion in 2023. Launches for 2023 included developments across KITA Bestari in KITA @ Cybersouth, Astella terrace houses at the D’Island Residence in Puchong, and Block B of Prestige Residence in Seri Kembangan. In addition, LBS successfully launched and held a groundbreaking ceremony for Idaman Cahaya in Shah Alam and Idaman Sari in Puchong respectively this year.

 

Currently, LBS is actively engaged in 19 ongoing development projects, collectively estimated to have a GDV of RM5 billion. As of 31 December 2023, LBS’ landbank spans approximately 2,767 acres, a substantial reserve expected to keep the Group occupied for the next 10 to 15 years. Furthermore, the Group has unbilled sales totalling around RM 1.99 billion, ensuring a clear and robust earnings outlook for the next two to three years.

 

Speaking at LBS 2024 Media Briefing, Executive Chairman Tan Sri Ir (Dr) Lim Hock San said, “We are excited to kickstart 2024 on an optimistic footing and we look forward to a positive 2024. Reflecting back, LBS consistently and cautiously launched projects throughout 2023. In fact, LBS had to push back a few launches to this year taking into account market sentiments and economic conditions, which led to a slight dip in our property sales. Nevertheless, we remain focused on delivering our targets for this year. A key highlight is our successful delivery of vacant possession for 4,872 units, worth RM 2.40 billion.

 

Anticipating a positive outlook for the property market in 2024, we will persist in upholding our 3 core main pillars of Affordability, Connectivity, and Community. The Group is motivated to rise to the challenge of delivering developments in strategic locations while maintaining affordable prices to meet homebuyers’ needs and earn their trust. ‘As a developer with people-first values, there are exciting prospects ahead as we strive to launch properties worth a total GDV of RM2.33 billion across various states. We will continue to monitor the market and implement appropriate strategies to ensure our operations are not disrupted. We remain optimistic of our growth prospects for 2024.”

 

He added, “The Group maintains a steadfast focus on ESG (Environmental, Social, and Governance) initiatives, considering them to be a pivotal priority. LBS will continue to seek opportunities to further enhance its ESG profile, aligning with the objective of achieving net carbon zero emissions by 2050. In addition, we aim to continuously reward our shareholders in accordance with our dividend policy which is to pay out 30% of the profit after tax and non-controlling interest.”

 

-End-

For Immediate Release

 

LBS LOOKS FORWARD TO A POSITIVE 2024

 

Petaling Jaya, 4 January 2024 – LBS Bina Group Berhad (“LBS” or the “Group”), a developer guided by people-first values, anticipates a prosperous 2024 with the unveiling of its property sales target set at RM1.8 billion. The Group concluded 2023 with RM1.701 billion in property sales.

 

The LBS 2024 annual media briefing, attended by over 100 media associates today at the LBS Headquarters, revealed the company’s plans to launch 10 new projects in 2024 across Klang Valley, Johor, and Pahang. The target launches encompass 4,858 units with a total Gross Development Value (“GDV”) of RM2.33 billion.

 

Within the Klang Valley, LBS will concentrate on launching 2,960 units with a total GDV of RM 1.14 billion. The Klang Valley region has consistently contributed the highest sales to LBS over the years, averaging more than 80%. Of these 2,960 units, the Group plans to launch 1,048 units with a total GDV of RM303 million in Idaman Perdana, located in LBS Alam Perdana.

 

Additionally, LBS, in collaboration with its construction arm, MGB Berhad, will introduce the Rumah Idaman MBI (Idaman Cahaya 3) apartment block (413 units with a total GDV of RM117 million), double-storey terrace houses at Astella (79 units with a total GDV of RM75.6 million), and the SkyRia serviced-apartment block at D’Island Residence (999 units with a total GDV of RM441 million).

 

Moreover, the Group plans to launch 421 units, comprising an apartment and a townhouse in Bandar Saujana Putra, with a total GDV of RM205 million.

 

New launches within the Pahang region include the Bayu Hills serviced apartment in Genting Highland (642 units with a total GDV of RM452 million) and 66 bungalow units at Rimbawan Acacia Garden, Genting Highland, with a total GDV of RM103 million. In addition, LBS plans to launch the largest mixed development in the region, featuring the most extensive collection of serviced apartments and commercial offerings (shops and restaurants) at Centrum Iris, Cameron Centrum, Cameron Highlands.

 

In addition, LBS has upcoming launches in Johor, including 63 double-storey semi-detached houses at Imperial Garden in Bandar Putera Indah, Batu Pahat, Johor, with a total GDV of RM43 million. The launches also comprise Pangsapuri Saujana Indah apartment in Taman Molek, consisting of 393 units with a GDV of RM177 million.

 

As a point of comparison, LBS had launched 4,358 units worth RM1.67 billion in 2023. Launches for 2023 included developments across KITA Bestari in KITA @ Cybersouth, Astella terrace houses at the D’Island Residence in Puchong, and Block B of Prestige Residence in Seri Kembangan. In addition, LBS successfully launched and held a groundbreaking ceremony for Idaman Cahaya in Shah Alam and Idaman Sari in Puchong respectively this year.

 

Currently, LBS is actively engaged in 19 ongoing development projects, collectively estimated to have a GDV of RM5 billion. As of 31 December 2023, LBS’ landbank spans approximately 2,767 acres, a substantial reserve expected to keep the Group occupied for the next 10 to 15 years. Furthermore, the Group has unbilled sales totalling around RM 1.99 billion, ensuring a clear and robust earnings outlook for the next two to three years.

 

Speaking at LBS 2024 Media Briefing, Executive Chairman Tan Sri Ir (Dr) Lim Hock San said, “We are excited to kickstart 2024 on an optimistic footing and we look forward to a positive 2024. Reflecting back, LBS consistently and cautiously launched projects throughout 2023. In fact, LBS had to push back a few launches to this year taking into account market sentiments and economic conditions, which led to a slight dip in our property sales. Nevertheless, we remain focused on delivering our targets for this year. A key highlight is our successful delivery of vacant possession for 4,872 units, worth RM 2.40 billion.

 

Anticipating a positive outlook for the property market in 2024, we will persist in upholding our 3 core main pillars of Affordability, Connectivity, and Community. The Group is motivated to rise to the challenge of delivering developments in strategic locations while maintaining affordable prices to meet homebuyers’ needs and earn their trust. ‘As a developer with people-first values, there are exciting prospects ahead as we strive to launch properties worth a total GDV of RM2.33 billion across various states. We will continue to monitor the market and implement appropriate strategies to ensure our operations are not disrupted. We remain optimistic of our growth prospects for 2024.”

 

He added, “The Group maintains a steadfast focus on ESG (Environmental, Social, and Governance) initiatives, considering them to be a pivotal priority. LBS will continue to seek opportunities to further enhance its ESG profile, aligning with the objective of achieving net carbon zero emissions by 2050. In addition, we aim to continuously reward our shareholders in accordance with our dividend policy which is to pay out 30% of the profit after tax and non-controlling interest.”

 

-End-

LBS Announces Strong Q3FYE2023 Results with Emphasis on Sustainability

21 November 2023

For Immediate Release

 

LBS ANNOUNCES STRONG Q3FYE2023 RESULTS

WITH EMPHASIS ON SUSTAINABILITY

  • Profit after tax increased 14.2% year-on-year to RM44.7 million from RM39.2 million
  • Successfully delivered vacant possession of 10 projects worth RM 2.4 billion
  • Total property sales (20 November 2023: RM1.58 billion) – 79 % of 2023 sales target of RM2.0 billion with bookings in the pipeline of RM234 million
  • As at 31 October 2023, unbilled sales of RM2.2 billion

 

Petaling Jaya, 21 November 2023 – LBS Bina Group Berhad (“LBS” or the “Group”) unveiled its third-quarter results today, demonstrating robust financial growth while reaffirming its commitment to Environmental, Social, and Governance (ESG) initiatives.

In Q3FYE2023, LBS reported a commendable year-on-year increase of 14.2% in Profit After Tax (PAT) amounting to RM 44.7 million, accompanied by a 13.8% rise in Profit After Tax and Minority Interest (PATMI) reaching RM 40.2 million. These achievements were supported by a solid revenue of RM471.5 million, largely driven by enhanced construction activities in key projects like KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil projects, Idaman projects, and Prestige Residence.

Property development, generating RM 453.1 million in Q3FYE2023, remained the primary contributor to the Group’s earnings. For the nine months ending on 30 September 2023, PAT and PATMI surged by 11% and 3.1% respectively. Notably, more than 89% of the revenue was derived from development projects within the Klang Valley, underscoring the region’s pivotal role in the Group’s financial performance for the current financial period.

LBS reported property sales of RM 1.58 billion as of 20 November 2023, with bookings in the pipeline of RM 234 million, signalling substantial progress toward its RM 2.0 billion sales target for 2023. Additionally, the Group disclosed a land bank of 2,791 acres and unbilled sales totalling RM 2.2 billion as of 31 October 2023.

Looking ahead with optimism, Tan Sri Ir Dr Lim Hock San commented on the Group’s trajectory and its commitment to sustainability, “LBS has demonstrated commendable financials this quarter. We continue to adopt a strategic and disciplined approach towards our developments and it has paid off as our net profit margin increasing to 9.5%, compared to 7.4% in the preceding year’s corresponding quarter.

“As we enter the final quarter of 2023, we are determined to maintain our momentum. With RM1.7 billion launches so far, we are experiencing robust take-up rates of more than 80% across our ongoing projects, indicating the public’s acceptance of our developments. Furthermore, we are pleased to announce the successful completion of a total of 10 projects, valued at RM2.4 billion, within the projected timeline. This positions us well to conclude 2023 on a positive note.

He added, “ESG (environmental, social and governance) initiatives remain a significant priority for the Group. The recent installation of solar panels in our head office, KITA @ Cybersouth sales gallery and Industrialised Building System (IBS) plant at Nilai, as well as the acquisition of a 28.67MW solar power capacity under the Corporate Green Power Programme, demonstrates our commitment towards sustainability. We continue to actively seek opportunities in the renewable energy space to further enhance our ESG profile as we progress towards achieving net carbon zero emissions by 2050.”

-End-

For Immediate Release

 

LBS ANNOUNCES STRONG Q3FYE2023 RESULTS

WITH EMPHASIS ON SUSTAINABILITY

  • Profit after tax increased 14.2% year-on-year to RM44.7 million from RM39.2 million
  • Successfully delivered vacant possession of 10 projects worth RM 2.4 billion
  • Total property sales (20 November 2023: RM1.58 billion) – 79 % of 2023 sales target of RM2.0 billion with bookings in the pipeline of RM234 million
  • As at 31 October 2023, unbilled sales of RM2.2 billion

 

Petaling Jaya, 21 November 2023 – LBS Bina Group Berhad (“LBS” or the “Group”) unveiled its third-quarter results today, demonstrating robust financial growth while reaffirming its commitment to Environmental, Social, and Governance (ESG) initiatives.

In Q3FYE2023, LBS reported a commendable year-on-year increase of 14.2% in Profit After Tax (PAT) amounting to RM 44.7 million, accompanied by a 13.8% rise in Profit After Tax and Minority Interest (PATMI) reaching RM 40.2 million. These achievements were supported by a solid revenue of RM471.5 million, largely driven by enhanced construction activities in key projects like KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil projects, Idaman projects, and Prestige Residence.

Property development, generating RM 453.1 million in Q3FYE2023, remained the primary contributor to the Group’s earnings. For the nine months ending on 30 September 2023, PAT and PATMI surged by 11% and 3.1% respectively. Notably, more than 89% of the revenue was derived from development projects within the Klang Valley, underscoring the region’s pivotal role in the Group’s financial performance for the current financial period.

LBS reported property sales of RM 1.58 billion as of 20 November 2023, with bookings in the pipeline of RM 234 million, signalling substantial progress toward its RM 2.0 billion sales target for 2023. Additionally, the Group disclosed a land bank of 2,791 acres and unbilled sales totalling RM 2.2 billion as of 31 October 2023.

Looking ahead with optimism, Tan Sri Ir Dr Lim Hock San commented on the Group’s trajectory and its commitment to sustainability, “LBS has demonstrated commendable financials this quarter. We continue to adopt a strategic and disciplined approach towards our developments and it has paid off as our net profit margin increasing to 9.5%, compared to 7.4% in the preceding year’s corresponding quarter.

“As we enter the final quarter of 2023, we are determined to maintain our momentum. With RM1.7 billion launches so far, we are experiencing robust take-up rates of more than 80% across our ongoing projects, indicating the public’s acceptance of our developments. Furthermore, we are pleased to announce the successful completion of a total of 10 projects, valued at RM2.4 billion, within the projected timeline. This positions us well to conclude 2023 on a positive note.

He added, “ESG (environmental, social and governance) initiatives remain a significant priority for the Group. The recent installation of solar panels in our head office, KITA @ Cybersouth sales gallery and Industrialised Building System (IBS) plant at Nilai, as well as the acquisition of a 28.67MW solar power capacity under the Corporate Green Power Programme, demonstrates our commitment towards sustainability. We continue to actively seek opportunities in the renewable energy space to further enhance our ESG profile as we progress towards achieving net carbon zero emissions by 2050.”

-End-

Tan Sri Ir Lim Hock San Awarded Honorary Doctorate

20 November 2023

For Immediate Release

 

RENOWNED COMMUNITY LEADER AND PROPERTY DEVELOPER, TAN SRI IR LIM HOCK SAN, AWARDED HONORARY DOCTORATE BY UNITAR INTERNATIONAL UNIVERSITY

 

 

Putrajaya, 18 November 2023 – In a distinguished ceremony at the 23rd convocation ceremony of UNITAR International University in Putrajaya, Tan Sri Ir Lim Hock San, Executive Chairman of LBS Bina Group Berhad, was conferred with an Honorary Doctorate of Management. This prestigious recognition was bestowed upon Tan Sri Ir Lim in acknowledgment of his exceptional leadership in steering LBS Bina Group Berhad to become one of Malaysia’s most trusted property developers and his significant contributions to Malaysia-China bilateral relations through key roles in non-governmental organizations.

 

Tan Sri Lim Hock San, a professional engineer and adjunct professor at UNITAR International University, graduated with First-Class Honors in Civil Engineering from the University of Wales, Science & Technology in 1982. Returning to Malaysia, he played a pivotal role in transforming LBS Bina Group Berhad, founded by his late father, Datuk Seri Lim Bock Seng, into a household name in the Malaysian property market.

 

With over 40 years of experience in property development, Tan Sri Ir Lim has successfully spearheaded LBS Bina Group Berhad, positioning it as one of Malaysia’s best-managed companies—a distinction duly acknowledged by Deloitte in 2022-2023. Under his astute leadership, the company has achieved remarkable milestones, having constructed over 40,000 homes across Malaysia and attained sales exceeding RM 2 billion in 2022, thus demonstrating its robust financial performance and its consistent delivery of dividends to shareholders.

 

In his acceptance speech, Tan Sri Ir Lim expressed gratitude for the Honorary Doctorate and dedicated it to his late father, highlighting the integral role played by Datuk Seri Lim Bock Seng in the company’s journey.

 

Tan Sri Ir Lim’s commitment extends beyond business, as he serves as the President of the Federation of Hokkien Associations of Malaysia, the largest Chinese clan-based association in the country. He also holds the position of Vice President of the Federation of Lim Malaysia and serves in various advisory and honorary capacities across numerous associations and bodies in Malaysia.

 

This Honorary Doctorate from UNITAR International University further underscores Tan Sri Ir Lim Hock San’s impactful leadership and commitment to both business excellence and community development.

 

-End-

For Immediate Release

 

RENOWNED COMMUNITY LEADER AND PROPERTY DEVELOPER, TAN SRI IR LIM HOCK SAN, AWARDED HONORARY DOCTORATE BY UNITAR INTERNATIONAL UNIVERSITY

 

 

Putrajaya, 18 November 2023 – In a distinguished ceremony at the 23rd convocation ceremony of UNITAR International University in Putrajaya, Tan Sri Ir Lim Hock San, Executive Chairman of LBS Bina Group Berhad, was conferred with an Honorary Doctorate of Management. This prestigious recognition was bestowed upon Tan Sri Ir Lim in acknowledgment of his exceptional leadership in steering LBS Bina Group Berhad to become one of Malaysia’s most trusted property developers and his significant contributions to Malaysia-China bilateral relations through key roles in non-governmental organizations.

 

Tan Sri Lim Hock San, a professional engineer and adjunct professor at UNITAR International University, graduated with First-Class Honors in Civil Engineering from the University of Wales, Science & Technology in 1982. Returning to Malaysia, he played a pivotal role in transforming LBS Bina Group Berhad, founded by his late father, Datuk Seri Lim Bock Seng, into a household name in the Malaysian property market.

 

With over 40 years of experience in property development, Tan Sri Ir Lim has successfully spearheaded LBS Bina Group Berhad, positioning it as one of Malaysia’s best-managed companies—a distinction duly acknowledged by Deloitte in 2022-2023. Under his astute leadership, the company has achieved remarkable milestones, having constructed over 40,000 homes across Malaysia and attained sales exceeding RM 2 billion in 2022, thus demonstrating its robust financial performance and its consistent delivery of dividends to shareholders.

 

In his acceptance speech, Tan Sri Ir Lim expressed gratitude for the Honorary Doctorate and dedicated it to his late father, highlighting the integral role played by Datuk Seri Lim Bock Seng in the company’s journey.

 

Tan Sri Ir Lim’s commitment extends beyond business, as he serves as the President of the Federation of Hokkien Associations of Malaysia, the largest Chinese clan-based association in the country. He also holds the position of Vice President of the Federation of Lim Malaysia and serves in various advisory and honorary capacities across numerous associations and bodies in Malaysia.

 

This Honorary Doctorate from UNITAR International University further underscores Tan Sri Ir Lim Hock San’s impactful leadership and commitment to both business excellence and community development.

 

-End-

LBS Lodges RM750.0 million Sukuk Wakalah Programme

14 November 2023

For Immediate Release

LBS LODGES RM750.0 MILLION SUKUK WAKALAH PROGRAMME

Assigned preliminary credit rating of AAIS with a Stable outlook by MARC

 

Petaling Jaya, 14 November 2023 – LBS Bina Group Berhad (“LBS”), a renowned developer, has lodged a Sukuk Wakalah Programme of up to RM750.0 million in nominal value with the Securities Commission Malaysia (“SC”) in accordance with the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework. The programme has been assigned a preliminary credit rating of AA-IS with a Stable outlook by MARC Ratings Berhad (“MARC”). 

 

The Sukuk Wakalah Programme provides flexibility for LBS to issue both Sukuk Wakalah and Green/Social/Sustainability/Sustainable and Responsible Investment (“SRI”) Sukuk Wakalah. This aligns with LBS’ inaugural Sustainability Financing Framework, which has received a ‘Gold’ Impact Bond Assessment by MARC.

 

The framework has been established to set the guiding principles for LBS’ sustainable financing instruments, targeting specific eligible projects that contribute to environmental and social benefits.

 

Proceeds raised from the Sukuk Wakalah programme will be used for Shariah-compliant purposes, including capital expenditures, investments, general corporate purposes, working capital, and refinancing. MARC Ratings recognizes LBS’ strong track record in affordable and mid-market residential property development, substantial unbilled sales, and robust cash flow metrics as key rating drivers.

 

HSBC Amanah Malaysia Berhad and RHB Investment Bank Berhad are the Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers of the Sukuk Wakalah Programme. In addition, HSBC Amanah Malaysia Berhad is the Sole Sustainability Structuring Agent and sole Shariah Adviser of the Sukuk Wakalah Programme.

 

LBS Executive Chairman, Tan Sri Ir. Lim Hock San, emphasised, “The lodgement of LBS’ Sukuk Wakalah Programme, and the establishment of LBS’ inaugural Sustainability Financing Framework demonstrates our humble aspiration towards a responsible, sustainable, and socially inclusive future. This is also a key step towards LBS’ goal of Net Zero Carbon Emissions by 2050”.

-End-

For Immediate Release

LBS LODGES RM750.0 MILLION SUKUK WAKALAH PROGRAMME

Assigned preliminary credit rating of AAIS with a Stable outlook by MARC

 

Petaling Jaya, 14 November 2023 – LBS Bina Group Berhad (“LBS”), a renowned developer, has lodged a Sukuk Wakalah Programme of up to RM750.0 million in nominal value with the Securities Commission Malaysia (“SC”) in accordance with the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework. The programme has been assigned a preliminary credit rating of AA-IS with a Stable outlook by MARC Ratings Berhad (“MARC”). 

 

The Sukuk Wakalah Programme provides flexibility for LBS to issue both Sukuk Wakalah and Green/Social/Sustainability/Sustainable and Responsible Investment (“SRI”) Sukuk Wakalah. This aligns with LBS’ inaugural Sustainability Financing Framework, which has received a ‘Gold’ Impact Bond Assessment by MARC.

 

The framework has been established to set the guiding principles for LBS’ sustainable financing instruments, targeting specific eligible projects that contribute to environmental and social benefits.

 

Proceeds raised from the Sukuk Wakalah programme will be used for Shariah-compliant purposes, including capital expenditures, investments, general corporate purposes, working capital, and refinancing. MARC Ratings recognizes LBS’ strong track record in affordable and mid-market residential property development, substantial unbilled sales, and robust cash flow metrics as key rating drivers.

 

HSBC Amanah Malaysia Berhad and RHB Investment Bank Berhad are the Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers of the Sukuk Wakalah Programme. In addition, HSBC Amanah Malaysia Berhad is the Sole Sustainability Structuring Agent and sole Shariah Adviser of the Sukuk Wakalah Programme.

 

LBS Executive Chairman, Tan Sri Ir. Lim Hock San, emphasised, “The lodgement of LBS’ Sukuk Wakalah Programme, and the establishment of LBS’ inaugural Sustainability Financing Framework demonstrates our humble aspiration towards a responsible, sustainable, and socially inclusive future. This is also a key step towards LBS’ goal of Net Zero Carbon Emissions by 2050”.

-End-

LBS Elevates Commitment to Sustainability with 28.67MW Renewable Energy Win

10 November 2023

For Immediate Release

 

LBS ELEVATES COMMITMENT TO SUSTAINABILITY WITH 28.67MW RENEWABLE ENERGY WIN

 

Petaling Jaya, 10 November 2023 – A renowned developer, LBS Bina Group Berhad (“LBS” or the “Group”) proudly announces its recent success in securing a capacity of 28.67 megawatts (MW) via the Corporate Green Power Program (“CGPP”). This significant milestone was accomplished through a collaborative effort with a consortium comprising Setara Armada Sdn Bhd, MWG Power Sdn Bhd, and Ocean Solar Energy Sdn Bhd.

 

In line with LBS’s commitment to Environmental, Social, and Governance (ESG) principles, this strategic step emphasizes the company’s commitment to fostering environmentally responsible and sustainable developments. The successful involvement in the CGPP demonstrates LBS’s incorporation of eco-friendly practices into its core business operations.

 

This significant accomplishment not only strengthens LBS position as a responsible corporate entity but also marks a substantial leap toward the company’s broader goal of entering the renewable energy sector. Through the utilization of 28.67MW of green power, LBS is set to make a substantial contribution to reducing carbon emissions and play a central role in advocating clean energy efforts within the region.

 

In response to this recent accomplishment, Tan Sri Ir Lim Hock San, LBS Executive Chairman, said, “Our success in the CGPP reaffirms our steadfast dedication to environmental stewardship. As responsible property developers, our commitment surpasses the creation of sustainable living spaces; we actively participate in initiatives that advocate for a more eco-friendly future. This accomplishment serves as evidence of our strategy centered on ESG and the collaborative efforts with our esteemed partners.”

 

The consortium, comprising Setara Armada Sdn Bhd, MWG Power Sdn Bhd, and Ocean Solar Energy Sdn Bhd, brings together a wealth of expertise and experience in the renewable energy sector. This partnership signifies the potential of strategic partnerships in promoting sustainable practices and driving positive transformations.

 

LBS intends to capitalize on this newly acquired green power capacity to further elevate the environmental performance of its projects in the coming years. The company remains steadfast in its pursuit of innovative and sustainable solutions, contributing to the well-being of both communities and the planet.

-End-

For Immediate Release

 

LBS ELEVATES COMMITMENT TO SUSTAINABILITY WITH 28.67MW RENEWABLE ENERGY WIN

 

Petaling Jaya, 10 November 2023 – A renowned developer, LBS Bina Group Berhad (“LBS” or the “Group”) proudly announces its recent success in securing a capacity of 28.67 megawatts (MW) via the Corporate Green Power Program (“CGPP”). This significant milestone was accomplished through a collaborative effort with a consortium comprising Setara Armada Sdn Bhd, MWG Power Sdn Bhd, and Ocean Solar Energy Sdn Bhd.

 

In line with LBS’s commitment to Environmental, Social, and Governance (ESG) principles, this strategic step emphasizes the company’s commitment to fostering environmentally responsible and sustainable developments. The successful involvement in the CGPP demonstrates LBS’s incorporation of eco-friendly practices into its core business operations.

 

This significant accomplishment not only strengthens LBS position as a responsible corporate entity but also marks a substantial leap toward the company’s broader goal of entering the renewable energy sector. Through the utilization of 28.67MW of green power, LBS is set to make a substantial contribution to reducing carbon emissions and play a central role in advocating clean energy efforts within the region.

 

In response to this recent accomplishment, Tan Sri Ir Lim Hock San, LBS Executive Chairman, said, “Our success in the CGPP reaffirms our steadfast dedication to environmental stewardship. As responsible property developers, our commitment surpasses the creation of sustainable living spaces; we actively participate in initiatives that advocate for a more eco-friendly future. This accomplishment serves as evidence of our strategy centered on ESG and the collaborative efforts with our esteemed partners.”

 

The consortium, comprising Setara Armada Sdn Bhd, MWG Power Sdn Bhd, and Ocean Solar Energy Sdn Bhd, brings together a wealth of expertise and experience in the renewable energy sector. This partnership signifies the potential of strategic partnerships in promoting sustainable practices and driving positive transformations.

 

LBS intends to capitalize on this newly acquired green power capacity to further elevate the environmental performance of its projects in the coming years. The company remains steadfast in its pursuit of innovative and sustainable solutions, contributing to the well-being of both communities and the planet.

-End-

LBS and MGB Recognised at The Edge Malaysia ESG 2023 Award

7 November 2023

For Immediate Release

 

LBS AND MGB RECOGNISED AT 

THE EDGE MALAYSIA ESG 2023 AWARD

Aimed at honouring Malaysia’s best performers in ESG excellence

 

Petaling Jaya, 7 November 2023 – A renowned developer, LBS Bina Group Berhad (“LBS” or the “Group”) and its subsidiary, MGB Berhad (“MGB”), a construction and property development solutions provider, are pleased to announce that LBS has won Silver in Most Improved Performance Over Three Years award, under the category of RM 300 million to RM 800 million Market Capitalization in The Edge Malaysia ESG Award 2023. Meanwhile, MGB Berhad has clinched the Silver award in the Construction category. The awards were presented to Mr Lucas Lim Lim Kiat, LBS’ Deputy Chief Executive Officer, and Ms. Shany Lim Chew Yee, Head of Group Sustainability, respectively during the awards ceremony held at the Grand Ballroom, Hilton Kuala Lumpur.

 

The Edge Malaysia ESG Award is a collaborative effort between Bursa Malaysia and FTSE Russell. In the Equity category, evaluations are conducted using FTSE Russell’s ESG rating methodology, which aligns with the methodology employed in creating the FTSE4Good Bursa Malaysia Index, a recognized industry standard for ESG practices in the country.  The recipients were carefully selected by a distinguished panel of official auditors from Deloitte, known for their extensive expertise in assessing corporate and sovereign risk.

 

LBS Chief Executive Officer and MGB Group Managing Director, Datuk Wira Joey Lim Hock Guan commented, “This acknowledgement is a testament to our unwavering dedication to operate our businesses responsibly. Both organizations have been on overdrive to endeavour toward greater environmental stewardship, social responsibility, and sound governance practices. Therefore, this recognition serves as a timely validation of our ongoing efforts to seamlessly integrate ESG principles into the core of our operations. With the future of the coming generations in our sight, we believe that sustainable development is not merely a choice; it is a responsibility we owe to our planet and the communities we serve.”

In tandem with this recognition, both LBS and MGB are reaffirming their commitment to elevating ESG standards within their business operations. In May 2023, both companies declared their support for the Task Force on Climate-related Financial Disclosures (“TCFD”). As part of their comprehensive sustainability strategy, they have detailed a comprehensive roadmap towards achieving Net Zero Carbon Emissions by 2050. This approach encompasses both short-term and long-term strategies, with a strong emphasis on integrating greater ESG principles into our business strategy and operations, which involve proactive measures such as an impactful decarbonisation strategy featuring internal carbon pricing, adoption of sustainable procurement and supply chain practices, and the introduction of an innovative green lease program in collaboration with our valued tenants.

 

-End-

For Immediate Release

 

LBS AND MGB RECOGNISED AT 

THE EDGE MALAYSIA ESG 2023 AWARD

Aimed at honouring Malaysia’s best performers in ESG excellence

 

Petaling Jaya, 7 November 2023 – A renowned developer, LBS Bina Group Berhad (“LBS” or the “Group”) and its subsidiary, MGB Berhad (“MGB”), a construction and property development solutions provider, are pleased to announce that LBS has won Silver in Most Improved Performance Over Three Years award, under the category of RM 300 million to RM 800 million Market Capitalization in The Edge Malaysia ESG Award 2023. Meanwhile, MGB Berhad has clinched the Silver award in the Construction category. The awards were presented to Mr Lucas Lim Lim Kiat, LBS’ Deputy Chief Executive Officer, and Ms. Shany Lim Chew Yee, Head of Group Sustainability, respectively during the awards ceremony held at the Grand Ballroom, Hilton Kuala Lumpur.

 

The Edge Malaysia ESG Award is a collaborative effort between Bursa Malaysia and FTSE Russell. In the Equity category, evaluations are conducted using FTSE Russell’s ESG rating methodology, which aligns with the methodology employed in creating the FTSE4Good Bursa Malaysia Index, a recognized industry standard for ESG practices in the country.  The recipients were carefully selected by a distinguished panel of official auditors from Deloitte, known for their extensive expertise in assessing corporate and sovereign risk.

 

LBS Chief Executive Officer and MGB Group Managing Director, Datuk Wira Joey Lim Hock Guan commented, “This acknowledgement is a testament to our unwavering dedication to operate our businesses responsibly. Both organizations have been on overdrive to endeavour toward greater environmental stewardship, social responsibility, and sound governance practices. Therefore, this recognition serves as a timely validation of our ongoing efforts to seamlessly integrate ESG principles into the core of our operations. With the future of the coming generations in our sight, we believe that sustainable development is not merely a choice; it is a responsibility we owe to our planet and the communities we serve.”

In tandem with this recognition, both LBS and MGB are reaffirming their commitment to elevating ESG standards within their business operations. In May 2023, both companies declared their support for the Task Force on Climate-related Financial Disclosures (“TCFD”). As part of their comprehensive sustainability strategy, they have detailed a comprehensive roadmap towards achieving Net Zero Carbon Emissions by 2050. This approach encompasses both short-term and long-term strategies, with a strong emphasis on integrating greater ESG principles into our business strategy and operations, which involve proactive measures such as an impactful decarbonisation strategy featuring internal carbon pricing, adoption of sustainable procurement and supply chain practices, and the introduction of an innovative green lease program in collaboration with our valued tenants.

 

-End-

About LBS Bina Group Berhad

LBS Bina Group Berhad (“LBS”), an internationally recognized developer with a vision for building and inspiring delightful spaces, is a renowned township developer that has amassed numerous awards through their various developments. By placing people at the heart of their approach, LBS has been building and shaping the nation’s landscape for over 30 years while continuing to meet the market demands for quality and affordable homes.

The continued success of LBS is attributed to the leadership of Executive Chairman, Tan Sri Lim Hock San. In recognition of his leadership, Tan Sri Lim was named as the Property Man of the Year by Malaysia Property Award (formerly known as FIABCI Malaysia Property Awards of Distinction or FIABCI Malaysia Awards of Distinction) in 2018, which is the gold standard for developers in the real estate industry. Further recognition received was the “Oscar Award” in the property fraternity. The award was in recognition of Tan Sri Lim’s perseverance and resilience over time within the industry, excellent demonstration of strong leadership, deep industry knowledge and impeccable values of integrity and responsibility.

To date, LBS with vast land banks spread across Malaysia, will continue to grow in stature and strength, through replicating successful townships such as Bandar Saujana Putra to other parts of Selangor including KITA @ Cybersouth in Dengkil, LBS Alam Perdana in Bandar Puncak Alam and so on. Beyond property development, LBS is also venturing into retail management, hospitality and tourism.

For more information, visit https://lbs.com.my/


Prepared by:
Corporate Communication, Media & Digital, LBS

Email: media@lbs.com.my