For Immediate Release

LBS AND SSI SIGN MOU TO JOINTLY DEVELOP LAND IN PERAK

LBS Kicks Start 2019 With Mixed-use Projects Comprising Affordable Houses In Perak

Ipoh, 23 January 2019 – To support the Government’s national housing agenda, Perak State Secretary Incorporated (SSI) and LBS Bina Group Berhad (LBS), through its subsidiary company Bimbingan Simfoni Sdn Bhd, have signed a Memorandum of Understanding (MoU) to develop two parcels of land situated in Temoh and Chepor, Perak. The collaboration was cemented at a recent signing ceremony witnessed by Perak Menteri Besar, Datuk Seri Ahmad Faizal Azumu, at the Perak State Government office.

Under the agreement, LBS will develop 50 acres of land located in Temoh, near Batang Padang district and a 41-acre parcel of land in Chepor of Hulu Kinta district in Perak with a combined estimated Gross Development Value (GDV) of RM 200 million.

These parcels of land are expected to be used for mixed-use developments comprising cluster terrace homes in the affordable price segment as well as terraced and semi-detached homes. The construction works are expected to begin in Q4 this year and to be completed in the next three to four years.

Speaking at the signing ceremony, LBS Bina Group Berhad Group Managing Director, Tan Sri Lim Hock San, said, “Affordable housing is the key issue for the nation now. The collaboration between LBS and SSI stems from the shared passion to help realise the Government’s commitment in delivering one million affordable homes over the next 10 years. We sincerely thank the Perak State Government for placing their trust in LBS. We are committed to delivering homes that cater to the needs of the people in Perak specifically meeting the affordability criteria.”

LBS has over 25 years of experience in developing innovative developments to meet the needs of home buyers and communities. Todate, LBS has delivered 35,000 quality properties which include affordable homes, high-rise apartments, integrated townships and commercial units, and has successfully achieved RM1.53 billion sales last year, recording its fourth consecutive year of growth.

Tan Sri Lim further said that the project would feature the signature qualities of other LBS developments – quality homes promoting a balanced lifestyle. “In this day and age, building homes has gone beyond constructing a house with a roof. We need to put ourselves in the shoes of our homebuyers, studying their needs and lifestyle in order to create homes that will improve their lifestyles.”

SSI Chief Executive Officer, Azizul Rahman Mohamad, said, “During the recent announcement of Perak state government’s plans for 2019, the affordable housing sector has been listed as one of the priority sectors. We are targeting to build 50,000 affordable homes in Perak within the next five years. This partnership with LBS is aligned to the state government’s mission to help more people from the low to middle income group to own a home.”

For Immediate Release

LBS ACHIEVES FOURTH CONSECUTIVE YEAR OF GROWTH

LBS Continues To Focus On Townships And More Affordable Homes In 2019

Kuala Lumpur, 4 January 2019 – Leading township developer, LBS Bina Group Berhad (LBS), maintains an upward growth trend in 2018 with sales increased to over RM1.5 billion from RM 1.4 billion in 2017. This marks the fourth consecutive year of improved results with a strong 25% compounded annual growth rate (CAGR) from 2014 to 2018.

Speaking at its 2019 Outlook Briefing, Group Managing Director, Tan Sri Lim Hock San, said, “LBS has once again achieved positive growth despite a challenging market environment. Achieving improved results over four consecutive years validates the strategy we have adopted. We have a good track record in providing strong product offerings which meet the needs of home buyers, at the right time, and more importantly, at the right price range.”

In 2018, its sales were mainly derived from new project launches in LBS Alam Perdana in Puncak Alam, Residensi Bintang Bukit Jalil, Zenopy Residences in Seri Kembangan and Kita @ Cybersouth in Dengkil. Additionally, ongoing developments in township projects including Bandar Saujana Putra, D’ Island Residence in Puchong, Bandar Putera Indah in Batu Pahat and Cameron Golden Hills in Cameron Highlands, also contributed positively to the healthy sales result.

Moving into 2019, despite a subdued property market outlook due to persistently cautious market sentiment and a slower global economic growth, LBS is confident of sustaining its RM 1.5 billion sales target for 2019, driven by the right product offerings and new launches mainly in the Klang Valley. These include the LBS Alam Perdana township and Kita @ Cybersouth township in Dengkil which is expected to contribute significantly to the Group’s earnings in 2019.

“There is still strong underlying demand for quality and affordable units. Our strategy to focus on more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, continues to be well received by the market and has helped us ride through the challenging market conditions,” said Tan Sri Lim.

LBS remains optimistic about its growth prospects with total unbilled sales stood at RM 1.745 billion as of 31 December 2018. The Group has lined up new projects with an estimated Gross Development Value (GDV) of RM1.82 billion. The property projects to be unveiled in 2019 include double storey terrace houses in LBS Alam Perdana, Residensi Bintang Bukit Jalil condominium, double storey terrace houses in Bandar Putera Indah, Batu Pahat as well as more than 1,000 affordable homes in Kita @ Cybersouth.