Agong Graces Groundbreaking Ceremony for IPD Surau Cameron Highlands

04 March 2023

For Immediate Release

AGONG GRACES GROUND BREAKING CEREMONY FOR IPD SURAU IN CAMERON HIGHLANDS

Cameron Highlands, 4 March 2023 – LBS Bina Group Berhad, (“LBS”) a leading property developer, held a ground-breaking ceremony for a new surau in the Ibu Pejabat Polis Daerah Cameron Highlands (IPDCH) today.  The ceremony was graced by Duli Yang Maha Mulia Seri Paduka Baginda Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah. Also present for the ground breaking ceremony are Her Majesty Seri Paduka Baginda the Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah Binti Almarhum Al-Mutawakkil Alallah Sultan Iskandar Al-Haj, alongside YAB Datuk Seri Wan Rosdy Wan Ismail, Chief Minister of Pahang, Pahang State Exco Members, YDH Tan Sri Razarudin Husain, Deputy Inspector-General of PDRM, YDH Datuk Ramli Mohamed Yoosuf, Pahang Police Chief, and Ybhg Dato’ Seri Daniel Lim, Executive Director of LBS, who represented the Group for the ground breaking ceremony.

 

The proposed surau has a construction cost of approximately RM5 million and a gross floor area of 6,016 square feet, including surau facilities. The land size is 1 acre, with a capacity of 200 worshipers. The new surau will feature facilities, including an AV Room, room for Imam, toilets for Muslim men and women, open courtyard, ablution pool, meeting room, mortuary room, parking for funeral vans, kitchen, and dining area. The surau will also have 62 parking spaces, including two disabled parking spaces, and 15 motorcycle lots.

“We are honored to have Duli Yang Maha Mulia Seri Paduka Baginda Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah grace us with his presence at this ground breaking ceremony. This new surau is a project that holds a very unique place in our hearts, and we are committed to delivering a space where the local Muslim community can come together for worship and community activities.” said Tan Sri Lim Hock San, Executive Chairman of LBS.

“The construction of the IPD Surau is part of LBS ’s Corporate Social Responsibility (CSR) efforts on creating positive impacts in the communities. We believe that providing such facilities will improve the IPDCH community’s well-being and enhance the development of Cameron Highlands. The company recognizes the importance of investing in the well-being of the communities and is committed to creating positive impacts for the nation, aligning with our vision of Empowering Individuals, Enhancing Community. As the developer of Cameron Centrum, the biggest mixed development with the largest collection of commercial offerings in Cameron Highlands, we uphold the responsibility to contribute to the wellbeing and development of the community.” he concluded.

LBS has an established track record in property development, having delivered numerous projects across Malaysia. The proposed surau in IPDCH is expected to be a significant addition to its portfolio, providing an essential facility for the local community.

-End-

For Immediate Release

AGONG GRACES GROUND BREAKING CEREMONY FOR IPD SURAU IN CAMERON HIGHLANDS

Cameron Highlands, 4 March 2023 – LBS Bina Group Berhad, (“LBS”) a leading property developer, held a ground-breaking ceremony for a new surau in the Ibu Pejabat Polis Daerah Cameron Highlands (IPDCH) today.  The ceremony was graced by Duli Yang Maha Mulia Seri Paduka Baginda Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah. Also present for the ground breaking ceremony are Her Majesty Seri Paduka Baginda the Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah Binti Almarhum Al-Mutawakkil Alallah Sultan Iskandar Al-Haj, alongside YAB Datuk Seri Wan Rosdy Wan Ismail, Chief Minister of Pahang, Pahang State Exco Members, YDH Tan Sri Razarudin Husain, Deputy Inspector-General of PDRM, YDH Datuk Ramli Mohamed Yoosuf, Pahang Police Chief, and Ybhg Dato’ Seri Daniel Lim, Executive Director of LBS, who represented the Group for the ground breaking ceremony.

 

The proposed surau has a construction cost of approximately RM5 million and a gross floor area of 6,016 square feet, including surau facilities. The land size is 1 acre, with a capacity of 200 worshipers. The new surau will feature facilities, including an AV Room, room for Imam, toilets for Muslim men and women, open courtyard, ablution pool, meeting room, mortuary room, parking for funeral vans, kitchen, and dining area. The surau will also have 62 parking spaces, including two disabled parking spaces, and 15 motorcycle lots.

“We are honored to have Duli Yang Maha Mulia Seri Paduka Baginda Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah grace us with his presence at this ground breaking ceremony. This new surau is a project that holds a very unique place in our hearts, and we are committed to delivering a space where the local Muslim community can come together for worship and community activities.” said Tan Sri Lim Hock San, Executive Chairman of LBS.

“The construction of the IPD Surau is part of LBS ’s Corporate Social Responsibility (CSR) efforts on creating positive impacts in the communities. We believe that providing such facilities will improve the IPDCH community’s well-being and enhance the development of Cameron Highlands. The company recognizes the importance of investing in the well-being of the communities and is committed to creating positive impacts for the nation, aligning with our vision of Empowering Individuals, Enhancing Community. As the developer of Cameron Centrum, the biggest mixed development with the largest collection of commercial offerings in Cameron Highlands, we uphold the responsibility to contribute to the wellbeing and development of the community.” he concluded.

LBS has an established track record in property development, having delivered numerous projects across Malaysia. The proposed surau in IPDCH is expected to be a significant addition to its portfolio, providing an essential facility for the local community.

-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


LBS Chinese New Year Night 2023 graced by the King

27 Feb 2023  #YearOfTheRabbit #ChineseNewYear2023

LBS Bina held a Chinese New Year Dinner for the Year of the Rabbit. This prestigious event was graced by the presence of Agong and Raja Permaisuri Agong which added a regal touch to the occasion, imbuing it with a sense of honor and joy. Their presence was a testament to the importance of LBS Bina Group Berhad and their strong partnership with the local community.

The event was a celebration of Chinese New Year, a major holiday in Malaysia, and brought together business leaders, community members, and royalty for an unforgettable evening, paired with a feast of traditional Chinese New Year delicacies, and was treated to captivating performances by talented local artists.

#LBSBina #ChineseNewYear2023 #YearOfTheRabbit

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Instagram: https://bit.ly/InstagramLBSBina​

Twitter: https://bit.ly/twitterLBSBina​

Linkedin: https://bit.ly/LinkedInLBSBina​

Visit our website here:  https://bit.ly/WebsiteLBSBina​

Diversity Policy

  1. INTRODUCTION

The Board of Directors (“Board”) of LBS Bina Group Berhad (“LBGB” or “Company”) recognises that diversity in Board composition and Key Senior Management is an essential element in attaining the strategic objectives of the Group and promoting good corporate governance.

2. OBJECTIVES

To set out Company’s policy in relation to diversity of the Board of Directors and Key Senior Management of the Company.

3. PRINCIPLES ON DIVERSITY POLICY

The Company recognises and embraces the benefits of having a diverse Board and Key Senior Management to enhance the quality of its performance. With a view to achieving a sustainable and balanced development, the Company aims at increasing diversity at the Board and Key Senior Management level as an essential element in supporting the attainment of its strategic objectives and its sustainable development The diversity for the Board and Key Senior Management will be considered based on a number of aspects, including but not limited to gender, age, cultural and educational background, ethnicity, professional experience, skills and knowledge. All Board appointments will be based on merit, contribution that the selected candidates will bring to the Board. The candidates will be considered against selection criteria and objective, having due regard for the benefits of diversity on the Board. The appointment of Senior Management is also based on merit and leadership skills, with due regard for diversity in skills, experience, age, cultural background and gender.

4. MEASURABLE OBJECTIVE

The Board would take into consideration the following measures:

  • The Board is of the view that, while it is important to promote diversity including gender, age and ethnicity, the board selection criteria based on an effective blend of competencies, skills, extensive experience and knowledge to strengthen the Board should remain a priority. Thus, the Company does not set any specific target for female directors in the Diversity Policy and will actively work towards having more women directors on the Board to comply with the recommendation of the Malaysian Code of Corporate Governance 2021 to have at least 30% women directors on the Board. In addition, the Company shall also observe this Policy when engaging senior management personnel.
  • The Nomination and Remuneration Committee (“NRC”) is responsible in ensuring that diversity principles are adopted in Board and/ or Key Senior Management’s appointment, board performance evaluation and succession planning processes.
  • The Company shall provide a suitable working environment that is free from harassment and discrimination in order to attract and retain women participation on the Board and/ or Key Senior Management.

5. MONITORING AND REPORTING

The Human Resource Department is (among other things) responsible for:

  • assessing the appropriate mix of diversity in addition to skills, experience and expertise required on the Key Senior Management;
  • making recommendations to the NRC to maintain an appropriate mix of diversity in addition to skills, experience and expertise on the Key Senior Management; and
  • reporting to the NRC in relation to new appointment of Key Senior Management.

The NRC is (among other things) responsible for:

  • assessing the appropriate mix of diversity in addition to skills, experience and expertise required on the Board and assessing the extent to which the diversity is required on the Board;
  • making recommendations to the Board in relation to Board succession, including the succession of the Chairman, to maintain an appropriate mix of diversity in addition to skills, experience and expertise on the Board;
  • reviewing and reporting to the Board in relation to any new development regarding Board and/or Key Senior Management’ diversity; and
  • report to the Board on:

✓ initiatives undertaken by the NRC in relation to board and/or Key Senior Management’ diversity and to achieve the Measurable Objectives.

✓ progress in achieving the Measurable Objectives and to make recommendations to the Board on the same.

6. REVIEW OF POLICY

This Policy has been approved by the Board and is made available for reference on Company’s corporate website and internal computer networking system.

It shall be reviewed by the Board and updated whenever necessary to ensure the Group remains at the forefront of best practices in corporate governance. Any subsequent amendments to the Policy should only be approved by the Board upon recommendation by NRC.

LBS Posts Record Revenue in FYE2022

21 February 2023

For Immediate Release

 

LBS POSTS RECORD REVENUE IN FYE2022 

 Full-year revenue increased 26% year-on-year to RM1.72 billion from RM1.37 billion.

  • Outperformed 2022 sales target by 25% to RM2.0 billion.
  • 18 ongoing projects with an estimated GDV of RM5.70 billion.
  • Strong unbilled sales of RM2.40 billion.
  • 12 new projects with an estimated GDV of RM2.09 billion

Petaling Jaya, 21 February 2023 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced its results for the financial year ended 31 December 2022 (“FYE2022”).

 

For FYE2022, the Group delivered a strong set of financial results driven by an outstanding performance with revenue increasing by 26% year-on-year, from RM1.37 billion in FYE2021 to RM1.72 billion. The RM1.72 billion revenue is LBS’ highest ever achieved. In addition, the Group’s profit after tax (“PAT”) increased by 17%, from RM114.92 million to RM134.48 million. Despite global challenges of geopolitical instability, supply chain disruptions and inflationary pressures, the Group continued to record positive results mainly due to its attractive product mix of affordable homes in line with its three pillars of affordability, connectivity, and community. This resulted in strong demand for its properties as the overall property market strengthened. The stellar FYE2022 performance was further supported by creative marketing strategies. The Group had also continued with its LBS Fabulous Extra Campaign for homebuyers by offering impressive lucky draw prizes worth RM1.5 million.

 

In particular, the property development front, which is the Group’s main earnings contributor, development projects within the Klang Valley contributed more than 84% of the Group’s revenue for FYE2022. The increase in revenue of property development segment was the end result of continuous strong take up rates and speedier progress at key development projects at Bukit Jalil, LBS Alam Perdana, KITA @ Cybersouth and Rumah Idaman MBI projects.

 

For fourth quarter of the financial year under review, LBS reported a revenue of RM372.76 million. In addition, PAT and profit after tax and non-controlling interests were RM28.33 million and RM25.65 million respectively.

 

LBS currently has 18 ongoing development projects with an estimated gross development value (“GDV”) of RM5.7 billion and a landbank of 2,970 acres. Further, the Group has unbilled sales of RM2.40 billion which will contribute a solid buffer to withstand earnings visibilities over the next two to three years.

 

Commenting on the results, LBS Executive Chairman Tan Sri Lim Hock San said, “LBS has yet again surpassed expectations and closed off 2022 on a strong note. Following on from 2021, we have again clocked in record revenue and puts us on good stead in 2023. It is encouraging to witness the recovery of the property market, and we expect market confidence to improve further in 2023. Exciting times are ahead for the remainder of the year as we intend to launch 12 new projects with an estimated GDV of RM2.09 billion worth of properties in the coming quarters.”

 

He added, “LBS’ financial performance remained resilient as evidenced by the improved earnings in 2022. Being able to surpass our initial 2022 sales target of RM1.6 billion by 25% to RM2.0 billion is testament of our homebuyers’ trust and confidence in our products and services. LBS will continue to increase operational efficiency to improve its profit margins and ensure long term business sustainability. In addition, LBS will emphasise on ESG principles for long-term value creation to further propel its growth in the property market.”

-End-

For Immediate Release

 

LBS POSTS RECORD REVENUE IN FYE2022 

 Full-year revenue increased 26% year-on-year to RM1.72 billion from RM1.37 billion.

  • Outperformed 2022 sales target by 25% to RM2.0 billion.
  • 18 ongoing projects with an estimated GDV of RM5.70 billion.
  • Strong unbilled sales of RM2.40 billion.
  • 12 new projects with an estimated GDV of RM2.09 billion

Petaling Jaya, 21 February 2023 – LBS Bina Group Berhad (“LBS” or the “Group”) today announced its results for the financial year ended 31 December 2022 (“FYE2022”).

 

For FYE2022, the Group delivered a strong set of financial results driven by an outstanding performance with revenue increasing by 26% year-on-year, from RM1.37 billion in FYE2021 to RM1.72 billion. The RM1.72 billion revenue is LBS’ highest ever achieved. In addition, the Group’s profit after tax (“PAT”) increased by 17%, from RM114.92 million to RM134.48 million. Despite global challenges of geopolitical instability, supply chain disruptions and inflationary pressures, the Group continued to record positive results mainly due to its attractive product mix of affordable homes in line with its three pillars of affordability, connectivity, and community. This resulted in strong demand for its properties as the overall property market strengthened. The stellar FYE2022 performance was further supported by creative marketing strategies. The Group had also continued with its LBS Fabulous Extra Campaign for homebuyers by offering impressive lucky draw prizes worth RM1.5 million.

 

In particular, the property development front, which is the Group’s main earnings contributor, development projects within the Klang Valley contributed more than 84% of the Group’s revenue for FYE2022. The increase in revenue of property development segment was the end result of continuous strong take up rates and speedier progress at key development projects at Bukit Jalil, LBS Alam Perdana, KITA @ Cybersouth and Rumah Idaman MBI projects.

 

For fourth quarter of the financial year under review, LBS reported a revenue of RM372.76 million. In addition, PAT and profit after tax and non-controlling interests were RM28.33 million and RM25.65 million respectively.

 

LBS currently has 18 ongoing development projects with an estimated gross development value (“GDV”) of RM5.7 billion and a landbank of 2,970 acres. Further, the Group has unbilled sales of RM2.40 billion which will contribute a solid buffer to withstand earnings visibilities over the next two to three years.

 

Commenting on the results, LBS Executive Chairman Tan Sri Lim Hock San said, “LBS has yet again surpassed expectations and closed off 2022 on a strong note. Following on from 2021, we have again clocked in record revenue and puts us on good stead in 2023. It is encouraging to witness the recovery of the property market, and we expect market confidence to improve further in 2023. Exciting times are ahead for the remainder of the year as we intend to launch 12 new projects with an estimated GDV of RM2.09 billion worth of properties in the coming quarters.”

 

He added, “LBS’ financial performance remained resilient as evidenced by the improved earnings in 2022. Being able to surpass our initial 2022 sales target of RM1.6 billion by 25% to RM2.0 billion is testament of our homebuyers’ trust and confidence in our products and services. LBS will continue to increase operational efficiency to improve its profit margins and ensure long term business sustainability. In addition, LBS will emphasise on ESG principles for long-term value creation to further propel its growth in the property market.”

-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


LBS’ Wish List for Budget 2023

15 February 2023

For Immediate Release

LBS’ WISH LIST FOR BUDGET 2023

 

Petaling Jaya, [17 February 2023] – LBS Bina Group Berhad (“LBS” or the “Group”) today shared its wish list for Budget 2023 which will be tabled in Parliament on 24th February 2023.

 

Following the conclusion of Malaysia’s 15th General Election, LBS is pleased that Malaysia has achieved political stability and is optimistic of a stronger and more stable economy in the coming months. According to the Ministry of Finance, Malaysia’s economy is expected to grow between 4-5% in 2023. As People’s Developer, LBS remains committed towards its goal of delivering affordable and quality housing to meet the nation’s demands.

 

To fulfil its role, LBS looks forward to the measures which will be announced by the Government during Budget 2023. Ahead of the announcement, LBS wishes to make various proposals which it believes is crucial towards revitalising the property sector and is hopeful that the Government will take these into account.

  1. Revival of the Home Ownership Campaign (HOC)

With rising inflationary pressure in today’s environment, the prices of basic necessities including housing have also increased. To alleviate the public burden of home ownership, we hope that the Government will consider implementing additional measures for potential homeowners and in particular first-time home buyers. With this, we request that the Government consider the reintroduction of the HOC. The effectiveness of the HOC is widely evidenced during its implementation between 2019-2021. Hence, its reintroduction will help spur demand and further encourage homeownership, providing more options and price points for potential homebuyers.

 

2. Reduction of financing costs

The hike in interest rates globally throughout 2022 has led to properties becoming more expensive to own with the increase in mortgage rates. It is further anticipated that interest rates will continue to hike in 2023. To assist with homeownership, especially for those in the lower-income households, we propose that the Government introduce lower financing costs for mortgages or offer rebates of up to 10% to first-time homeowners to ensure that buying sentiment remains.

 

3. Initiatives to resolve foreign worker shortage

With the increasing importance of foreign workers, we are hopeful that the Government will be able to deliver on their recent plan to allow entry of 500,000 foreign workers from 15 source countries in 2023 to overcome the shortage of labour in various sectors, especially the construction sector. It has been estimated that 700,000 foreign workers have left Malaysia due to Covid-19. Hence, we believe the number of foreign workers required to address the country’s immediate labour needs and to stimulate further economic growth is much higher.

 

We hope that Budget 2023 will include initiatives such as reducing foreign worker levy while introducing a more efficient and transparent application process to shorten the time for foreign worker approvals. We are aware that the Government has recently introduced the Foreign Worker Recruitment Relaxation Plan and Illegal Immigrant Recalibration Plan 2.0 to expedite the approval process and we hope that the plan will live up to its purpose.

 

4. Introduce subsidies for raw material costs

Property developers and contractors have not been spared by the volatility of raw material prices in the past year. There is a huge responsibility on our part to ensure the delivery of our housing on time to meet the demands of the public. However, contractors are often delayed as they are met with difficulties with managing their costs, thus leading to a knock-on effect to developers. To alleviate the burden caused by rising prices, we hope that the Government will consider placing a price cap on the raw material costs to prevent an exorbitant increase in price. With this, property players will be able to manage costs more efficiently.

 

Commenting on the wish list, LBS Executive Chairman Tan Sri Lim Hock San said, “We hope that Budget 2023 will provide a paradigm shift and deliver an upswing in property sentiment via stimulus packages. Budget 2023 is an opportunity for the Government to assist the general public with alleviating the burden of everyday lives, which include homeownership. The formation of a unity Government will be able to create an environment that will attract more investors as well as promote economic growth and increase the well-being of the people. With this, we look forward to the Government’s commitment in ensuring the provision of adequate, quality and affordable housing segments in order for more people to own their dream homes.”

 

He added, “On the back of our 2023 sales target of RM2 billion, we are optimistic that the Government will announce initiatives that will provide an added boost to us as we remain focused on the delivery of our projects. We look forward to seeing a stronger recovery of the property market in 2023.”

-End-

For Immediate Release

LBS’ WISH LIST FOR BUDGET 2023

 

Petaling Jaya, [17 February 2023] – LBS Bina Group Berhad (“LBS” or the “Group”) today shared its wish list for Budget 2023 which will be tabled in Parliament on 24th February 2023.

 

Following the conclusion of Malaysia’s 15th General Election, LBS is pleased that Malaysia has achieved political stability and is optimistic of a stronger and more stable economy in the coming months. According to the Ministry of Finance, Malaysia’s economy is expected to grow between 4-5% in 2023. As People’s Developer, LBS remains committed towards its goal of delivering affordable and quality housing to meet the nation’s demands.

 

To fulfil its role, LBS looks forward to the measures which will be announced by the Government during Budget 2023. Ahead of the announcement, LBS wishes to make various proposals which it believes is crucial towards revitalising the property sector and is hopeful that the Government will take these into account.

  1. Revival of the Home Ownership Campaign (HOC)

With rising inflationary pressure in today’s environment, the prices of basic necessities including housing have also increased. To alleviate the public burden of home ownership, we hope that the Government will consider implementing additional measures for potential homeowners and in particular first-time home buyers. With this, we request that the Government consider the reintroduction of the HOC. The effectiveness of the HOC is widely evidenced during its implementation between 2019-2021. Hence, its reintroduction will help spur demand and further encourage homeownership, providing more options and price points for potential homebuyers.

 

2. Reduction of financing costs

The hike in interest rates globally throughout 2022 has led to properties becoming more expensive to own with the increase in mortgage rates. It is further anticipated that interest rates will continue to hike in 2023. To assist with homeownership, especially for those in the lower-income households, we propose that the Government introduce lower financing costs for mortgages or offer rebates of up to 10% to first-time homeowners to ensure that buying sentiment remains.

 

3. Initiatives to resolve foreign worker shortage

With the increasing importance of foreign workers, we are hopeful that the Government will be able to deliver on their recent plan to allow entry of 500,000 foreign workers from 15 source countries in 2023 to overcome the shortage of labour in various sectors, especially the construction sector. It has been estimated that 700,000 foreign workers have left Malaysia due to Covid-19. Hence, we believe the number of foreign workers required to address the country’s immediate labour needs and to stimulate further economic growth is much higher.

 

We hope that Budget 2023 will include initiatives such as reducing foreign worker levy while introducing a more efficient and transparent application process to shorten the time for foreign worker approvals. We are aware that the Government has recently introduced the Foreign Worker Recruitment Relaxation Plan and Illegal Immigrant Recalibration Plan 2.0 to expedite the approval process and we hope that the plan will live up to its purpose.

 

4. Introduce subsidies for raw material costs

Property developers and contractors have not been spared by the volatility of raw material prices in the past year. There is a huge responsibility on our part to ensure the delivery of our housing on time to meet the demands of the public. However, contractors are often delayed as they are met with difficulties with managing their costs, thus leading to a knock-on effect to developers. To alleviate the burden caused by rising prices, we hope that the Government will consider placing a price cap on the raw material costs to prevent an exorbitant increase in price. With this, property players will be able to manage costs more efficiently.

 

Commenting on the wish list, LBS Executive Chairman Tan Sri Lim Hock San said, “We hope that Budget 2023 will provide a paradigm shift and deliver an upswing in property sentiment via stimulus packages. Budget 2023 is an opportunity for the Government to assist the general public with alleviating the burden of everyday lives, which include homeownership. The formation of a unity Government will be able to create an environment that will attract more investors as well as promote economic growth and increase the well-being of the people. With this, we look forward to the Government’s commitment in ensuring the provision of adequate, quality and affordable housing segments in order for more people to own their dream homes.”

 

He added, “On the back of our 2023 sales target of RM2 billion, we are optimistic that the Government will announce initiatives that will provide an added boost to us as we remain focused on the delivery of our projects. We look forward to seeing a stronger recovery of the property market in 2023.”

-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


Dividen Policy

The Company’s normal dividend policy is adopted to ensure sustainable long-term yields to shareholders consistent with the Company’s earnings growth, while maintaining an efficient capital structure and ensuring sufficiency of funds for future growth.

The dividend policy seeks to distribute 30% of the Company’s profit after taxation and minority interest commencing from the financial year ended 31 December 2021, subject to availability of distributable reserves as well as the Company’s future cash flow requirements and market conditions.

Dividends will be paid only if approved by the Board of Directors of the Company or shareholders, as the case may be, out of funds available for such distribution. The actual amount and timing of dividend payments will depend upon the Company’s cash flow position, results of operations, business prospects, current and expected obligations, and such other matters as the Board of Directors may deem relevant.

Royalty Grace LBS Bina Group 2023 CNY Dinner

15 February 2023

FOR IMMEDIATE RELEASE

Royalty Grace LBS Bina Group Chinese New Year Dinner 2023

LBS Springs to Greater Heights in the Year of the Rabbit

Petaling Jaya, 15 February 2023 –  LBS Bina Group Berhad (“LBS”) Chinese New Year Dinner 2023, held at Mandarin Oriental, Kuala Lumpur, was graced by 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 and 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. The presence of His and Her Royal Highness imbues joy and honour to the occasion.

The lion dance troupe coupled with a lively drum performance greets King, Queen and guests of honors in, with approximately 800 guests present. The joyous event was complemented with the presence of several dignitaries including Chief Minister of Selangor, Dato’ Sri Amirudin Shari, Minister of Agriculture and Food Security, YB Datuk Seri Haji Mohamad bin Sabu, Minister of Home Affairs, YB Senator Datuk Seri Saifuddin Nasution bin Ismail, and Minister of Science, Technology and Innovation, YB Tuan Chang Lih Kang. Also attending the celebration were prominent figures in the government, banking, construction industries as well as Chinese community association and foreign guests.   

Tan Sri Lim Hock San, Executive Chairman of LBS, expressed “Having our Yang Di-Pertuan Agong grace the LBS Bina Chinese New Year Dinner for the Rabbit Year makes for a momentous occasion for LBS and an exceptional beginning to the year. LBS has soared to remarkable heights in the Tiger Year, breaking multiple records, from the sales gallery with the most indoor show houses in Malaysia, being awarded as Malaysia’s Best Managed Companies, to benchmarking our sales target at RM 2 billion. All of these were made possible by virtue of the synergy from our team, support of the stakeholders, and of course, trust of our customers”.

‘Muhibah’, the theme for the LBS Bina 2023 Chinese New Year Dinner, is synonymous with our current government’s initiative. LBS, better known as The People’s Developer, will continue to show ardent support in bridging the community and forming unity amidst diversity. Housing is essential to economic, social, and civic development, more so, one that is affordable and of quality. Living up to our reputation as The People’s Developer, LBS Bina will continue to build and provide quality housing solutions to the nation whilst fulfilling our corporate social responsibility, aligning our goals with what The King has been advocating for. Lastly, to leaders, friends, and family present here today, I wish you a year of abundance, opulence, and good fortune.” Tan Sri remarked.

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FOR IMMEDIATE RELEASE

Royalty Grace LBS Bina Group Chinese New Year Dinner 2023

LBS Springs to Greater Heights in the Year of the Rabbit

Petaling Jaya, 15 February 2023 –  LBS Bina Group Berhad (“LBS”) Chinese New Year Dinner 2023, held at Mandarin Oriental, Kuala Lumpur, was graced by 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 and 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. The presence of His and Her Royal Highness imbues joy and honour to the occasion.

The lion dance troupe coupled with a lively drum performance greets King, Queen and guests of honors in, with approximately 800 guests present. The joyous event was complemented with the presence of several dignitaries including Chief Minister of Selangor, Dato’ Sri Amirudin Shari, Minister of Agriculture and Food Security, YB Datuk Seri Haji Mohamad bin Sabu, Minister of Home Affairs, YB Senator Datuk Seri Saifuddin Nasution bin Ismail, and Minister of Science, Technology and Innovation, YB Tuan Chang Lih Kang. Also attending the celebration were prominent figures in the government, banking, construction industries as well as Chinese community association and foreign guests.   

Tan Sri Lim Hock San, Executive Chairman of LBS, expressed “Having our Yang Di-Pertuan Agong grace the LBS Bina Chinese New Year Dinner for the Rabbit Year makes for a momentous occasion for LBS and an exceptional beginning to the year. LBS has soared to remarkable heights in the Tiger Year, breaking multiple records, from the sales gallery with the most indoor show houses in Malaysia, being awarded as Malaysia’s Best Managed Companies, to benchmarking our sales target at RM 2 billion. All of these were made possible by virtue of the synergy from our team, support of the stakeholders, and of course, trust of our customers”.

‘Muhibah’, the theme for the LBS Bina 2023 Chinese New Year Dinner, is synonymous with our current government’s initiative. LBS, better known as The People’s Developer, will continue to show ardent support in bridging the community and forming unity amidst diversity. Housing is essential to economic, social, and civic development, more so, one that is affordable and of quality. Living up to our reputation as The People’s Developer, LBS Bina will continue to build and provide quality housing solutions to the nation whilst fulfilling our corporate social responsibility, aligning our goals with what The King has been advocating for. Lastly, to leaders, friends, and family present here today, I wish you a year of abundance, opulence, and good fortune.” Tan Sri remarked.

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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


Everything You Should Know About A Townhouse Project In Malaysia

The development of residential properties in Malaysia has increased in recent years to meet the demands of enthusiastic property investors and interested homebuyers.

Various kinds of residential properties can be found in Malaysia that are developed to meet the different needs and lifestyles of the growing population.

One type of residential property, in particular, such as the townhouse in Malaysia, though less popular than the condo or apartment, is slowly gaining recognition as a property to look out for.

Today, many people are thinking of buying a townhouse in Malaysia because of its uniqueness as a residential property.

What is a Townhouse Property?

You are probably here because you want to know more about townhouses in Malaysia. So, let’s get started.

Townhouses go way back to Europe’s 17th century and were mostly found in city and town areas at that time, as its name suggests and are resided by aristocrats and wealthy families.

They were widely popular back in those days to accommodate the high density and growing population of citizens in the area.

Today, a townhouse in Malaysia is a terraced residential property with a small footprint and multiple floors that are at least two storeys but can also go up to three or four storeys and is usually built in rows of four or more.

A townhouse shares a wall or two with another adjacent property and each will have its own separate entrances and may even have a front lawn and backyard.

What’s the Difference Between a Condo, an Apartment and a Townhouse in Malaysia?

A condo and an apartment are high-rise residential properties but what usually sets them apart is the ownership. Whilst a condominium is where different individuals own each unit, an apartment building, on the other hand, is owned by a corporation or a single person.

Besides that, the difference can also be seen in terms of facilities whereby condos are known to have more variety of facilities and are considered more luxurious compared to apartments.

Unlike a condominium and an apartment, a townhouse in Malaysia is a hybrid and somewhere in between being a high-rise property and a terrace house. However, they also come with strata titles of ownership just like condominiums and apartments.

This means that living in a townhouse in Malaysia requires specific maintenance and upkeep to be shared amongst its residents.

The Benefits of Buying a Townhouse in Malaysia

If you are interested in buying a townhouse in Malaysia, you should know the pros and cons of owning one beforehand.

So, here is what you need to know:

A Townhouse Offers More Privacy

Compared to living in a condo or apartment where you are sharing a common entrance with other residents, a townhouse in Malaysia offers the same kind of privacy that a landed house would, even in a shared development environment.

The Price Of A Townhouse Can Be More Affordable Than A Landed Property In Malaysia

Today, you can find a townhouse for sale in Malaysia that is more affordable than a landed house. So, if you would like to enjoy a few of the perks that a landed house has to offer, a townhouse might be another option to look at.

Living in a Townhouse Means You Get to Share the Costs

As mentioned, a townhouse in Malaysia is a stratified property where facilities are shared, including repair and maintenance costs.

This means that you won’t need to shoulder the burden of costs on your own or worry about doing the maintenance and upkeep yourself.

The Drawbacks of Buying a Townhouse in Malaysia

Though buying a townhouse in Malaysia has its wins, there is also some compromise that comes with it.

Some of these drawbacks include:

Owning a Townhouse Comes with Some Restrictions

Sometimes, one of the things we enjoy in life is freedom, and this includes having the freedom to renovate your home however we like.

Unfortunately, having a shared development agreement, there is a limitation in terms of how you would like to renovate your townhouse in Malaysia.

Your Privacy is Limited if You Live in a Townhouse

Though living in a townhouse in Malaysia does offer some privacy, it is not the absolute kind of privacy that a landed property offers as a townhouse is a ‘shared’ building between residents.

Living in a Townhouse Might Be Inconvenient For Some People

This is because a townhouse has multiple floors of two or more storeys, which you may not find convenient, especially if you have elderly family members living with you.

Then again, these are all just minor considerations to take note of if you still desire to buy or live in a townhouse in Malaysia.

There is definitely a novelty about townhouses that capture the heart, and if your dream home has always been a chic London-style inspired home, then a townhouse will be perfect for it.

Where Can I Find A Brand New Townhouses For Sale Near Me?

If you are thinking of buying a townhouse in Malaysia, we suggest you check out the current LBS townhouse projects that are available.

LBS is one of Malaysia’s top property developers, building not only high-quality homes but also creating thriving communities through our projects.

To find out more about townhouse projects in Malaysia, visit our website today.

The Five Benefits Of Buying A New Apartment For Sale In Malaysia

Are you on the hunt for your first home or thinking of relocating and getting a new place?

Between an apartment in Malaysia and a landed house, you might wonder which is the best choice for you.

Though living in a landed house has its advantages, such as being spacious in size, there are also numerous perks that apartment living offers.

As a result, more and more people today are constantly seeking out apartments for sale. From new apartment developments to low-cost apartments in Malaysia, apartments are regarded as a good investment opportunity.

So, if you are indecisive about buying an apartment in Malaysia, here are five benefits of staying in a Malaysia Apartment that you should know about:

Living in an Apartment Buildings Enhances Community Connection

Human connection is such an essential part of being human, especially for our well-being, and the pandemic has really taught us to never take it for granted.

This is why living in an apartment or service apartment in Malaysia today is a good choice as they are designed for creating a more social lifestyle and building a connection with neighbours.

Besides that, living close to your neighbours in a Malaysia apartment residence also allows the opportunity to foster friendships.

Facilities available at a service apartment or apartment in Malaysia, such as the pool, gym, garden, and playground, give you a chance to socialise with neighbours while you have fun and relax.

New Apartment Project For Sale Today Offers Great Convenience

Another great thing about staying in a Malaysia apartment today is that most new apartment project developments in recent years offer incredible conveniences to its residents.

Apartments and service apartments are developed in thriving townships and are within proximity to the city and various hot spots.

This allows you to have easy access to many conveniences and essential amenities such as grocery stores, shopping malls, restaurants, hospitals, schools and others.

Worry Less About Maintenance in Malaysia’s Apartment

Compared to living in a landed house, you do not have to worry about the maintenance of your residences when you stay in an apartment.

This is another reason why many people are seeking out apartments and service apartments for sale in Malaysia.

The maintenance of apartments and service apartments is often the responsibility of the management.

This includes the maintenance of the facilities, cleanliness of the complex, leaky roof repairment and others.

Today, the top apartment development in Malaysia also features a 24-hour support line for residents to report any issues regarding the maintenance and upkeep of their residences.

New Apartment Project & Development with Enhanced Security Features

Many apartments in Malaysia today, especially new apartment projects and developments feature enhanced security and safety measures.

Apart from having CCTVs placed in public areas including high-risk areas within and around the apartment complex as well as having security guards on duty around the clock, most apartments in Malaysia today are equipped with multi-tier and smart security systems.

Such security measures put in place will allow you to have peace of mind about theft issues, and other unwanted and petty crimes at your residences.

Enjoy Time In The Garden At Your Service Apartment In Malaysia

Many apartments and service apartments in Malaysia today are designed with beautiful and lush gardens where its residents can go and unwind.

The best part? You do not need a green thumb or ever have to worry about the garden’s upkeep.

So, enjoy a bit of nature close to home at your Malaysia apartment and relish in some peace and quiet there as much as you like!

The Best Freehold Apartments For Sale Nearest To You!

Hunting for an apartment for sale in Malaysia to make your dream home a reality?

Check out LBS Bina for exciting new apartment projects today!