Latest news with #LBSBinaGroupBhd
The Star
2 days ago
- Business
- The Star
LBS RECORDS ROBUST GROWTH
'We are encouraged by the strong start to 2025, having secured RM281.2mil in sales and an additional RM256mil in bookings,' said Lim. PETALING JAYA: LBS Bina Group Bhd, a leading property developer guided by people-first values, announced its impressive unaudited financial results for the first quarter of the financial year ending Dec 31 (Q1FYE2025). Following the successful completion of multiple projects in 2024, the group maintained its growth by focusing on new developments to sustain its trajectory. The group's higher progressive site construction activities enabled revenue to jump 15% to RM329.2mil in Q1FYE2025 from RM287.1mil in the preceding quarter. Led by flagship projects in particularly KITA @ Cybersouth, LBS Alam Perdana, Prestige Residence and Idaman projects, LBS' Klang Valley developments continued to be the key driver, where it accounted for over 86% of Q1FYE2025's revenue. The higher revenue – among other things – contributed to a higher profit after tax of RM32.5mil in Q1FYE2025, which was more than double the preceding quarter's RM15.8mil. LBS group executive chairman Tan Sri Ir Dr Lim Hock San said, 'We are encouraged by the strong start to 2025, having secured RM281.2mil in sales and an additional RM256mil in bookings. 'This performance is driven by the robust demand for the state-of-the-art light and medium factories in our Alam Perdana Industrial Park, further boosted by Cameron Centrum, following the successful launch of Centrum Iris, its second precinct and largest mixed development, earlier this year. 'The strong uptake, in both these projects, reflects the strong market confidence in our developments and reinforces our strategy of delivering market-driven projects that cater to real demand.' He added, 'Guided by our 8 x 8 strategy, we are focused on launching a robust pipeline of projects over the next three years, boasting a total gross development value (GDV) of RM8bil. 'This, combined with our sizeable 1,535ha of landbank and RM1.61bil in unbilled sales, we are well positioned for sustainable growth, providing clear visibility of our future revenue and earnings.' Lim explained: 'Moreover, we are exploring opportunities to expand our presence in Melaka with our recent memorandum of understanding (MoU) to develop a mixed-use industrial development project with an estimated GDV exceeding RM7bil. 'We are excited about the potential growth opportunities and looking ahead, we maintain a cautiously optimistic outlook and will continue to respond with agility to evolving market demands while building on our strengths to drive sustainable growth.' In a testament of the group's commitment to shareholder returns, the Board has proposed a final single-tier dividend of 1.10 sen per ordinary share in respect of the financial year ended Dec 31, 2024. This is subject to the shareholders' approval at the forthcoming 25th annual general meeting on June 26. Upon approval, the cumulative dividend payout for 2024, including a first interim single-tier dividend of 1.00 sen per ordinary share and a special single-tier dividend of 2.60 sen per ordinary share, is 4.70 sen per ordinary share or RM73.2mil in total. This represents a 30% payout ratio, in line with the group's dividend policy.
New Straits Times
2 days ago
- Business
- New Straits Times
LBS posts strong FY2025 start, earnings surge on robust sales, demand
KUALA LUMPUR: LBS Bina Group Bhd has kicked off the financial year ending Dec 31, 2025 (Q1 FY2025) on a high note, supported by strong sales momentum and steady project execution. The people-first property developer reported a 15 per cent quarter-on-quarter revenue increase in Q1 FY2025 to RM329.2 million, up from RM287.1 million in the preceding quarter. This was driven by active construction progress across key developments, particularly in the Klang Valley, which contributed over 86 per cent of total revenue. Major contributors included flagship projects such as KITA @ Cybersouth, LBS Alam Perdana, Prestige Residence, and the Idaman series. The group also saw its pre-tax profit more than double to RM32.5 million from RM15.8 million in the previous quarter. Commenting on the results and outlook, executive chairman Tan Sri Dr Lim Hock San said the group recorded RM281.2 million in sales and RM256 million in bookings during the quarter. "This performance is driven by the robust demand for the state-of-the-art light and medium factories in our Alam Perdana Industrial Park, further boosted by Cameron Centrum, following the successful launch of Centrum Iris, its second precinct and largest mixed development, earlier this year," he said in a statement. Lim said that the strong uptake in both these projects reflects the strong market confidence in the developments and reinforces the group's strategy of delivering market-driven projects that cater to real demand. Guided by its 8 x 8 Strategy, LBS plans to launch projects worth RM8 billion in total gross development value (GDV) over the next three years. With 3,793 acres of land landbank and RM1.61 billion in unbilled sales, the group is well-positioned for sustainable growth. "This, combined with our sizeable 3,793 acres of land landbank and RM1.61 billion in unbilled sales, means we are well positioned for sustainable growth, providing clear visibility of our future revenue and earnings. "Moreover, we are exploring opportunities to expand our presence in Melaka with our recent MOU (memorandum of understanding) to develop a mixed-use industrial development project with an estimated GDV exceeding RM7 billion," Lim said. "We are excited about the potential growth opportunities and looking ahead, we maintain a cautiously optimistic outlook and will continue to respond with agility to evolving market demands while building on our strengths to drive sustainable growth," he said. The board has proposed a final single-tier dividend of 1.10 sen per share in respect of the financial year ended Dec 31, 2024, subject to shareholder approval at the upcoming 25th AGM on June 26, 2025. Upon approval, the total dividend payout for 2024, including a first interim single-tier dividend of 1.00 sen per ordinary share and a special single-tier dividend of 2.60 sen per ordinary share, is 4.70 sen per ordinary share or RM73.2 million in total. This represents a 30 per cent payout ratio, in line with the group's dividend policy.
New Straits Times
4 days ago
- Business
- New Straits Times
MGB posts 4.5pct revenue growth to RM227.7mil in Q1 on strong project progress
KUALA LUMPUR: MGB Bhd, a construction and property development solutions provider under LBS Bina Group Bhd, posted steady revenue growth for the first quarter ended March 31, 2025 (Q1FYE2025), supported by continued progress across its core development projects. The group recorded RM227.7 million in revenue for Q1FYE2025, a 4.5 per cent increase from RM217.9 million in the same quarter last year. Pre-tax profit stood at RM17 million, with profit after tax at RM12 million. The improved performance was mainly attributed to the property development segment, which posted a 30.3 per cent year-on-year revenue increase to RM114.2 million, driven by strong contributions from projects such as Idaman Cahaya Phase 2 and Idaman Sari. Meanwhile, the construction and trading segment posted RM192.8 million in revenue, including RM79.3 million from internal transactions. As of March 31, 2025, MGB maintained a healthy financial position, with RM66.9 million in cash and bank balances while maintaining a conservative 0.1 times net gearing ratio. This highlights the group's disciplined financial management and strong balance sheet, providing day-to-day operational flexibility and capacity for strategic investments without straining its financial foundations. Commenting on the Q1FYE2025 results, MGB group executive chairman Tan Sri Dr. Lim Hock San said that MGB is strategically expanding its presence in the affordable housing, commercial and industrial development sectors as it maintains a cautious optimism on its property development outlook, driven by sustained demand for high-quality, affordable homes. "Riding on this momentum, we are well positioned for continued growth, harnessing the efficiency of our Industrialised Building System (IBS) precast concrete and further streamlining operations for maximum productivity. "Moreover, our regional expansion initiatives, including progress in Saudi Arabia, reflect our readiness to grow beyond domestic borders. This is evidenced by the second purchase order secured from Sany Alameriah in March this year, valued at approximately RM88.6 million. "Building upon our initial success, this follow-on order brings the total contract value to RM207 million, encompassing the construction of 726 residential units," he said in a statement. Lim said that MGB's successful entry and growth within international markets, coupled with the group's focus on innovation and productivity, validate the strength of its strategic approach. "These efforts collectively enhance our ability to capture market opportunities and uphold our standards of reliability and excellence and eventually provide greater earnings visibility moving forward," he said. MGB has proposed a final dividend of 1.54 sen per share for the fiscal year 2024, bringing the total dividend to 3.06 sen, in line with the group's policy of distributing at least 30 per cent of profit after tax and minority interest. The group's current construction order book and unbilled property sales stand at a commendable RM1.2 billion and RM584 million, respectively, as of April 30, 2025. This robust pipeline, supported by the group's solid financials and talented team which focused on innovation, along with the balancing and integrating of its environmental, social and governance principles into its business model, will bolster its performance in the upcoming quarters, ensuring continued growth and success.
New Straits Times
16-05-2025
- Business
- New Straits Times
LBS Bina, Oriental Holdings sign RM7bil MOU for industrial project in Melaka
KUALA LUMPUR: LBS Bina Group Bhd has entered into a Memorandum of Understanding (MOU) with Oriental Holdings Bhd (OHB) to jointly develop an integrated mixed-use industrial project in Klebang, Melaka, with an estimated gross development value (GDV) exceeding RM7 billion. The landmark development will comprise primarily industrial and commercial components, strategically located within the Straits of Melaka Waterfront Economic Zone (SM-WEZ). Klebang was chosen for its advantageous coastal location, expanding infrastructure, and alignment with Melaka's long-term economic transformation goals. The MOU was signed by LBS executive director Datuk Sri Daniel Lim and OHB group executive chairman Datuk Loh Kian Chong in the presence of Melaka Chief Minister Datuk Seri Utama Ab Rauf Yusoh. The Chief Minister's attendance highlights the state government's strong support and underscores the project's pivotal role in driving economic growth and urban development in Melaka. LBS Bina group executive chairman, Tan Sri Dr. Lim Hock San, hailed the agreement as a key milestone in the group's expansion into Malaysia's southern region. "In partnership with OHB, we are excited to shape Klebang into a vibrant, sustainable township. By combining our expertise and shared vision, we aim to deliver lasting value, both in building sustainable developments and uplifting Melaka's economic and social landscape. We look forward to a strong, long-term partnership built on shared goals and mutual success," Lim said. The primary focus of this mixed-use industrial development is to cater to small and medium-sized enterprises (SMEs) in sectors such as oil and gas production, manufacturing, food and beverage supply chains, and warehousing. Furthermore, given the development's frontage along a main access road, the industrial units offer commercial value, as they can also function as retail showroom warehouses. Additionally, Melaka ranks sixth among Malaysian states in terms of industrial property transactions. Notably, the demand for vacant plots and semi-detached industrial units has recorded double-digit growth, driven by both investors and owner-occupiers. Covering approximately 561 acres, the development will be implemented in four phases. LBS Bina stated that detailed land demarcations and development plans will be finalised in forthcoming Definitive Agreements, to be mutually agreed upon by both parties. Enhancing the project's connectivity and long-term potential is the upcoming West Coast Expressway (WCE), which will stretch from Banting, Selangor, to Gelang Patah, Johor. Once completed, the highway is expected to relieve traffic on the North-South Expressway and serve as a catalyst for growth in key coastal towns including Klang, Port Dickson, Melaka, Muar, and Batu Pahat. Corporate Jan 27, 2025 @ 12:55am LBS Bina unveils three-year roadmap to reach new milestones Property Apr 28, 2025 @ 3:41am LBS Bina's 'Makan Angin Lokal' campaign achieves RM537mil in bookings Corporate Feb 20, 2025 @ 9:39pm LBS Bina posts 11-year high PATMI of RM240.2mil Property Jan 16, 2025 @ 5:16am LBS Bina marks Merdeka Campaign success with RM30,000 cash prizes for eight winners
The Star
28-04-2025
- Business
- The Star
LBS Bina's ‘Makan Angin Lokal' campaign clocks RM537mil in bookings
LBS executive director Cynthia Lim (eighth from left) presenting mock cheques to the grand prize winners of the 'Makan Angin Lokal with LBS' campaign. LBS Bina Group Bhd, a leading property developer guided by people-first values, announced the outstanding success of its 'Makan Angin Lokal with LBS' campaign. This initiative was specially crafted to reward purchasers who successfully executed their sale and purchase agreements, loan agreements and fulfilled all stipulated terms and conditions under the campaign. Held from Oct 1 to Dec 31 2024, the campaign generated an impressive RM537mil in total bookings, mainly contributed by projects located at areas such as Selangor (Cybersouth, Seri Kembangan, Puchong) and Johor (Molek) where demand were primarily driven by first-time home buyers. This achievement stands as a strong testament to LBS's enduring appeal and commitment to delivering value-driven developments. A total of 19 projects across Malaysia including key developments such as KITA @ Cybersouth, D'Island Residence, Prestige Residence, Centrum Iris, Bayu Hills and more, participated in the campaign, further reflecting LBS's nationwide presence and strong market engagement. As part of the campaign, LBS celebrated the grand prize winners, who walked away with hotel vouchers worth up to RM250,000 in total. These exclusive vouchers are redeemable at top-rated hotels in Selangor, Kuala Lumpur, Pahang, Penang and Johor – offering winners a perfect opportunity for a well-deserved local getaway. The campaign's grand finale took place during the lively Raya KITA Fest, held at the LBS Discovery Gallery KITA @ Cybersouth. The highlight of the event was the official prize presentation ceremony, where LBS executive director Datuk Cynthia Lim handed over mock cheques to the lucky winners. 'This campaign is our way of expressing heartfelt appreciation to our customers while spreading joy and excitement throughout the LBS community. 'As a developer deeply rooted in community values, we take great pride in bringing festive cheer to our customers and the broader LBS family. 'This initiative also aligns with our three-year '8 x 8 Strategy', particularly our focus on delivering an exceptional customer experience – ensuring that every interaction is personalised, seamless and meaningful,' said Lim. In support of the Malaysian government's efforts to promote domestic tourism, LBS contributes by offering hotel stays at premier destinations. 'We hope these rewards inspire homeowners to explore the richness of Malaysia's heritage while serving as a token of our appreciation for their trust and support,' she added. The event attracted over 200 guests, including LBS Perks and Plusses partners, campaign winners, potential buyers and the local community. Guests celebrated Hari Raya in a festive atmosphere filled with joy, unity and music — highlighted by a free concert featuring local artists who were brought in by LBS, such as Naim Daniel, Iman Troye and Zarul Umbrella. It was a true reflection of the group's commitment to creating memorable experiences for the public. Adding further value to the celebration, LBS's partners – EON, Watsons, HWC Coffee and Coway, also participated in the event with engaging booths and interactive activities that elevated the overall experience for attendees. For more updates and upcoming offers, visit:
