For Immediate Release

LBS PARTICIPATES IN THE PROPOSED JOINT VENTURE OF A LIGHT RAIL TRANSPORT SYSTEM WITH TRANSIT ORIENTED DEVELOPMENT IN JOHOR BAHRU

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Petaling Jaya, 21 March 2022 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced that it has entered into a Heads of Agreement (“HOA”) with Nylex (Malaysia) Berhad (“Nylex”), Sinar Bina Infra Sdn. Bhd. (“SBI”), BTS Group Holdings Public Company Limited (BTS) and Ancom Berhad (“Ancom”) to build and operate a light rail transport system (“LRT Project”) with an integrated property development based on the “Transit-Oriented Development” concept in Johor Bahru’s metropolitan region. LBS and SBI have certain strategic land banks in Johor Bahru while BTS is a public listed company in Thailand and the majority shareholder of Bangkok Mass Transit System PCL, the operator of the BTS Skytrain and Bangkok BRT.

 

Pursuant to the HOA, LBS shall inject its lands at a consideration to be mutually agreed taking into account the valuation to be carried out by an independent valuer. In exchange, LBS will receive Nylex shares priced at RM0.15 per share and LBS or its affiliate shall be the preferred civil and construction contractor for the LRT Project as well as the preferred main contractor for the development of the LBS lands. The HOA is subject to the completion of a feasibility study to be conducted by BTS and professional consultants, the grant of the LRT Project concessions by the state government of Johor to SBI and signing of definitive agreements.

 

LBS Executive Chairman Tan Sri Lim Hock San said, “This potential collaboration provides us with an opportunity to monetise our lands in Johor and expand our property development and construction expertise beyond our usual housing projects. We expect to generate infrastructure construction income and steady recurring income from this project. The Johor Bahru metropolitan region is up and coming, connectivity is crucial for its growth. Our lands are strategically located. We foresee this project to be a viable development which will ease the transportation and connectivity concerns of the local community.

In addition, we are pleased to be able to work with experienced professionals who have appropriate technical skills and knowledge to see us through this project. We will work towards inking the definitive agreements and share any developments in addition to the final terms and conditions when available.”

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For Immediate Release

LBS FYE2021 NET PROFIT LEAPS BY 76%  

• Q4FYE2021 revenue increased by 50%
• Outperformed 2021 sales target by 31% to RM1.58 billion
• 18 ongoing projects with an estimated GDV of RM5.30 billion
• Unbilled sales of RM2.30 billion

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Petaling Jaya, 24 February 2022 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced its fourth-quarter results for the financial year ended 31 December 2021 (“Q4FYE2021”).

For the period under review, LBS reported a revenue of RM441.84 million. This translates to a year-on-year increase of 50%. To add on, the Group recorded a profit after tax (“PAT”) of RM46.38 million for Q4FYE2021, an impressive 41% increase as compared to Q4FYE2020.

For FYE2021, revenue increased by 24%, year-on-year, from RM1.10 billion to RM1.36 billion. The RM1.36 billion revenue is LBS’ highest ever achieved. The PAT increased by 76%, from RM67.29 million to RM118.70 million.

The strong FYE2021 performance was attributed to the innovative digitalisation efforts by the Group such as LBS’ Virtual Property Page, Raikan Rezeki Bersama LBS and Vacci-Nation Bonanza digital campaigns, as well as in-demand products which were well-received by the public.

On the property development front, which is the Group’s main earnings contributor, revenue increased to RM1.30 billion, resulting in a 26% increase year-on-year. The respective increase was the end result of good take up rates and steady construction progress at ongoing projects such as Residensi Bintang Bukit Jalil, Alam Awana Industrial Park, Cameron Centrum, KITA @ Cybersouth and LBS Alam Perdana.

LBS currently has 18 ongoing development projects with an estimated Gross Development Value (“GDV”) of RM5.3 billion. The landbank of 2,744 acres, as at 31 December 2021, will keep the Group busy for the next 10 years. Unbilled sales of RM2.30 billion will contribute positively to the Group’s revenue over the next two to three years.

Commenting on the results, LBS Executive Chairman Tan Sri Lim Hock San said, “FYE2021 has turned out to be an exceptional year for LBS. Our numbers reached an all-time high. Nevertheless, I hope that our financial results are a testament of the direction LBS is heading towards and that the general public and our shareholders keep their faith in us.

In 2021, we surpassed our property sales target by 31%, hitting RM1.58 billion as compared to our initial target of RM1.20 billion. This is a great start to 2022. Property development will continue to be our core business. Therefore, we have set ourselves a higher property sales target of RM1.60 billion for 2022 via 14 new project launches with a gross development value of RM1.77 billion. We are confident our launches will continue to receive strong responses, given the strategic locations. Further, with the roll-out of the vaccination booster shots, it appears that the days of lockdowns are out of sight.

In 2022, we will remain true to our three main pillars of Affordability, Connectivity and Community. The LBS team is motivated to rise to the challenge of delivering developments in strategic locations while maintaining affordable prices to meet homebuyers’ needs and to win their trust. 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 2022.”

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For Immediate Release

LBS Bina Group 2022 Town Hall Meeting

Two-Day ‘Hybrid’ Event Setting Amid New Norm

 

Petaling Jaya, 24 January 2022 – LBS Bina Group Berhad (LBS) welcomes the return of the annual town hall meeting implemented in both virtual and physical settings. Fully aware that the pandemic is far from over, the meeting was extended into a two-day event to better regulate the SOPs. What remained the same is the objectives of the event, establishment the bonds of all LBS staff, acknowledging the efforts made throughout 2021 and how the organization can grow even sturdier moving forward.

 

‘‘The new norm is no longer new, with more variants emerging and more vaccines being administered to combat the virus, we should also remember to never let our guards down and have history repeat itself. To be able to gather everyone here today is no coincidence, it’s the joint effort of everyone seated here today. For the year 2022, I am cautiously optimistic that LBS will set new benchmarks and offer an even wider range of products and services to the market.’’ said Tan Sri Lim Hock San, Executive Chairman of LBS.

 

The meeting started with the welcoming remarks from the Group Managing Director and Chief Executive Officer, Datuk Wira Joey Lim followed by the 2021 company’s performance review presented by Tan Sri Lim Hock San. In line with the company’s goal to adapt digitalization in its operation, LBS Deputy Chief Executive Officer, Lucas Lim provided an in-depth brief on the company’s Digital Transformation Roadmap initiatives and future digitalization plans. LBS’ key attributes, introduced by Dato’ Cynthia Lim, Executive Director, namely swift action and interdependence, has been making positive impacts to the organization since its introduction in 2021.   To further grow the key attributes, Ms Shany Lim, the founder of the Heroes of Change, introduced the initiatives, its major objectives and its respective agents represented by employees from all departments. The focal role of the agents will be actively integrated into LBS’ working culture.

 

The town hall meeting remains to be the company’s official communication platform for both the management and employees to share the company performance updates and forecast. Approximately 955, including both physical and virtual attendees from LBS Bina Group Berhad including Board of Directors, Independent Directors and employees from its subsidiaries, MGB Berhad, M3 Mall, SCAPES Hotel and Zhuhai International Circuit Limited (ZIC) attended the Town Hall Meeting.

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For Immediate Release

LBS INCREASES FEMALE DIRECTORS ON BOARD

Female board representation increases to 25%

 

Petaling Jaya, 14 January 2022 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced the appointment of Dato’ Yong Lei Choo (“Dato’ Yong”) as its new independent non-executive director, member of LBS’ Remuneration Committee and Risk Management Committee, effective 14 January 2022. She will replace Datuk Lim Tong Lee who will retire from the LBS board.

 

With Dato’ Yong’s appointment, LBS will have 2 female directors on its board, which translates to a 25% female composition. The higher female composition allows for increased diversity as LBS supports the push for greater women representation in boardrooms. To add on, it is part of LBS’ increasing focus on ESG as it creates a company guided by a robust corporate governance framework.

 

Commenting on the appointment, LBS Executive Chairman Tan Sri Lim Hock San said, “LBS values diversity and experience. We have already met the mandatory requirement for female board representation in the form of Dato’ Lim Mooi Pang who has been on the LBS board since 2009. We are indeed pleased to have Dato’ Yong Lei Choo, a veteran of the Royal Malaysian Police Force, onboard. With her experience and background, I am confident Dato’ Yong will do a tremendous job in her new role, providing us with sound advice and unique viewpoint as management works to steer LBS forward. We hope our shareholders recognise our efforts in providing appropriate corporate governance oversight in LBS as we advocate for gender diversity and equality in our board.”

 

In addition, the Group announced the re-designation of current Managing Director, Datuk Wira Lim Hock Guan to Group Managing Director/Chief Executive Officer as well as the resignation of Dato’ Sri Lim Hock Seong and Lim Kim Kiat as Executive Directors of LBS and their subsequent appointments as Deputy Chief Executive Officers of LBS. The resignations will streamline LBS’ board towards an equal representation of 4 executive directors and 4 independent non-executive directors, as compared to a 6:4 ratio previously. This is part of LBS’ step towards implementing a stronger and more active corporate governance structure within the Group.

 

About Dato’ Yong Lei Choo

Dato’ Yong holds a Bachelor of Arts (Hons) (Population Studies) from University of Malaya and a Master of Science (Human Resource Development) from Western Carolina University, North Carolina, USA.

 

Dato’ Yong, who hails from Jasin, took up her first position in the Royal Malaysian Police Force with the Taiping district police in Perak following completion of her cadetship in 1986. She had a distinguished career in the police force for nearly 36 years before retiring in October 2021 as the Deputy Chief Police Officer of Kuala Lumpur. Notable achievements while with the police force include being the first female Head of Special Branch in the Petaling Jaya Police District (1998); first Chinese woman with the rank of Senior Assistant Commissioner (2009); first female Special Branch Chief of Penang Police Contingent (2015) and the first female Assistant Principal Director of the Special Branch (Economic Intelligence Division). Her outstanding performance garnered her a federal scholarship from the Public Service Department to pursue her Master’s Degree in North Carolina, USA (1995-1997). In 2009, she was conferred the Darjah Indera Mahkota Pahang by the Sultan of Pahang.

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For Immediate Release

LBS SURPASSES 2021 PROPERTY SALES TARGET

STEPS UP PROPERTY LAUNCHES IN 2022

 

Petaling Jaya, 5 January 2022 – LBS Bina Group Berhad (“LBS” or the “Group”) foresees a better year ahead. In 2021, LBS surpassed its RM1.2 billion sales target, ending the year with RM 1.575 billion in property sales.

 

At the LBS annual media briefing held earlier today, the Group announced its plans to launch 14 new projects in 2022 – which will cover Klang Valley, Johor, Pahang and Perak – amounting to 3,733 units with a Gross Development Value (GDV) of RM1.77 billion.

 

Overall, for the Klang Valley, which provided the highest sales contribution in 2021, LBS intends to launch 2,604 units with a total GDV of RM1.11 billion. Specifically, for the KITA @ Cybersouth township, LBS will launch 2,128 units with RM853 million in GDV. Within KITA @ Cybersouth, LBS aims to develop KITA Sejati serviced apartments, KITA Bestari single and double-storey terrace houses and double-storey townhouse in 2022. To add on, LBS also plans to launch a new phase of Melodi Perdana serviced apartments at the LBS Alam Perdana township which consists of 321 units and a total GDV of RM120 million, and Astella at D’Island Residence with 155 units and a total GDV of RM132 million.

 

For other areas, new projects include the Bayu Hills apartment in Genting Highlands (642 units with a total GDV of RM492 million); Taman Kinding Flora single storey cluster link and terrace houses in Chemor, Perak (248 units with a total GDV of RM 64 million) and the Emerald Garden 3 single storey terrace houses, Royal Garden double storey Semi-D houses and Laman Bayu 4 double storey terrace house in Bandar Putera Indah, Johor (239 units with a total GDV of RM108 million).

 

In comparison, LBS launched a total of 3,344 units in 2021 worth RM1.6 billion. These launches were developments across KITA @ Cybersouth, LBS Alam Perdana, Bukit Jalil and Prestige Residence in Seri Kembangan within the Klang Valley. Other launches include the terrace houses in Bandar Putera Indah township in Batu Pahat and new phases at Taman Kinding Flora, Chemor.

 

To add on, the Group is in full support of the Selangor Government’s initiatives to develop affordable housing for the general public. This is evidenced by LBS’ joint partnership with the Selangor State Government on the Rumah Selangorku Idaman MBI project to deliver 7,210 affordable homes across 6 locations, consisting of a total GDV of RM2.01 billion. LBS targets to launch 4 Rumah Selangorku Idaman MBI in 2022, namely Idaman BSP (Bandar Saujana Putra), Idaman Cahaya (Shah Alam), Idaman Sari (Puchong) and Idaman Melur (Cybersouth). Whereas, Idaman KITA (Cybersouth) and Idaman Perdana (Bandar Puncak Alam) scheduled to launch in 2023.

 

LBS has 18 ongoing development projects with an estimated GDV of RM5.3 billion. As at 31 December 2021, LBS’ future landbank stood at approximately 2,744 acres, projected to keep the Group busy for 10 to 15 years to come. In addition, the Group has unbilled sales of about RM 2.304 billion, expected to provide clear earnings visibility over the next two to three years. The Group managed to garner strong property sales despite a challenging 2021 with the aid of digital marketing initiatives and the use of its IBS precast system. LBS highlighted the contributions brought upon by its Virtual Property Page and more digital campaigns such as the Ox-picious 8, Raikan Rezeki Bersama LBS, Vacci-Nation Bonanza and Fabulous 20-21 Lucky Draw.

 

After the media briefing, LBS Executive Chairman, Tan Sri Lim Hock San said, “LBS recorded a steady performance in 2021 despite a tough year for businesses. Not only did we manage to surpass our 2021 property sales target by 31%, we also successfully handed over vacant possession of 2,570 units worth RM1.3 billion. It is indeed worthwhile being able to provide affordable homes to the community and seeing them happy when they received the keys to their new homes.”

 

Moving forward, LBS embraces the new norm as we continue to adopt digitalisation in our business. We, the LBS team will work hard together to achieve our goals. To kickstart the year, LBS has launched the ‘Bring Happiness Home’ campaign, which will reward homebuyers with a total of RM438,888 CNY Angpows and run from 1 January 2022 to 28 February 2022. Under this campaign, we will be offering furnishing packages, low booking fees, loyalty rewards, flexi payment schemes and zero exit fees. In addition, we will be waiving legal fees and stamp duty on loan agreements for all homebuyers when they purchase from a selection of LBS’ residential properties. As the People’s Developer, we remain committed towards supporting the government’s housing initiatives and hope homebuyers will be encouraged to own a home by our efforts.

 

Meanwhile, enhancing stakeholder value has been a priority for us and we will continue to maintain our dividend policy to payout at least 30% of the profit after tax. We are confident in our abilities and hope our shareholders will continue to have faith in us.”

 

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

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For Immediate Release

 

LBS BINA GROUP AWARDED AS TOP 10 DEVELOPERS AT

THE BCI ASIA AWARDS 2020/2021

LBS endorsed at BCI Asia Awards for the Fifth Consecutive Year

 

Petaling Jaya, 6 December 2021 – Leading township developer, LBS Bina Group Berhad has once again clinched the Top Ten Developers Award 2020/2021 at the BCI Asia Awards (BCIAA) last year. This award serves as a great acknowledgment to LBS as an exemplary property developer in Malaysia and South East Asia. This marks the fifth time LBS received the recognition.

With the rising number of daily COVID-19 cases, the Full Movement Control Order (FMCO) came in place in May 2021 to ensure that daily diagnosed cases will be reduced and to protect public safety. Hence, the originally planned BCI Asia awards 2020 dated on 19 June 2020, was postponed and rescheduled to 3^rd December 2021.

The Top 10 developers of 2020 were handpicked based on the extent of their projects’ sustainability. It is positioned as the most coveted award for architecture, developers, and construction sectors across Southeast Asia namely, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. The Award is now in its 17th year since its inception in 2003.

“The objective of sustainable housing is to elevate living standards while providing Malaysians with the opportunity to own their dream house with enhanced social unity, well-being, economic growth and social improvement. Sustainability considerations are factored into the entire life-cycle of our developments, from concept design to construction and building management such as KITA Mekar, KITA Mesra, Residensi Bintang Bukit Jalil, and Prestige Residence, which are the recently launched projects” said LBS Bina Group Berhad Executive Chairman, Tan Sri Lim Hock San.

“The year 2020 has been a challenging one, not only was LBS able to pull through, but the team’s hard work and perseverance managed to position LBS as the top 10 developers. For that, I am truly gratified and would like to extend my special thanks to BCIAA for consistently recognising our efforts and awarding LBS with the Top 10 Developers Award. We believe during these pandemic times, affordable housing with exceptional built quality is the recipe to success. As we approach the end of the year, our focus will continue to be driven towards providing affordable homes and creating green and sustainable living, working and recreational environments for all Malaysian homebuyers,” Tan Sri Lim Hock San said.

The BCIAA 2020/2021 gala dinner was held on 3rd December 2021 at Shangri-La Hotel, Kuala Lumpur and was graced by the President of Pertubuhan Arkitek Malaysia (PAM), YBhg. Datuk Ar Ezumi Harzani bin Ismail, President of Malaysian Institute of Interior Designers (MIID), IDr Lai Siew Hong, and Immediate Past President, Malaysia Green Building Council (MGBC), Ar Chan Seong Aun.

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