Latest news with #LimHockSan
The Sun
09-06-2025
- Business
- The Sun
LBS Bina secures RM88.4m green financing for solar farm project
PETALING JAYA: Property developer LBS Bina Group Bhd's special purpose vehicle, Suria Hijauan Sdn Bhd, has secured a RM88.4 million green financing facility from Alliance Bank Malaysia Bhd to fund the engineering, procurement, construction and commissioning (EPCC) costs for its maiden 43 MWp solar farm project. The project, which is under the Corporate Green Power Programme, is located in Senawang, Negeri Sembilan, and is scheduled for completion by the end of this year. The solar farm is expected to deliver stable, recurring revenue, thus enhancing long-term earnings resilience and underscoring LBS's commitment to sustainable growth. The solar farm project is expected to generate approximately 53,000 MWh of clean energy annually, effectively offsetting about 35,000 tonnes of carbon emissions. Atlantic Blue Sdn Bhd, a subsidiary of Solarvest Holdings Bhd, was appointed as the EPCC contractor under a RM104 million contract, leveraging its expertise in delivering large-scale solar projects. LBS group executive chairman Tan Sri Lim Hock San said, 'This green financing marks an important milestone for LBS as we diversify into renewable energy, reinforcing our commitment to sustainability. 'Securing this credit facility from a reputable bank like Alliance Bank highlights the strong potential of our renewable energy venture and our capacity to expand our initiatives within this sector. This support reflects confidence in our strategic direction and financial strength, while also facilitating the successful execution of this project.' He added that this initiative not only resonates with their goal of creating a positive environmental impact, it also strategically complements their core property development business by integrating future product offerings with renewable energy solutions. Alliance Bank Group CEO Kellee Kam said they believe financial institutions have a critical role to play in advancing sustainable development and are honoured to partner with LBS, a company whose values and vision closely align with their own. He added, 'Today's announcement is not just the launch of a project – it marks the beginning of a journey and a cause we are proud to be part of.'
New Straits Times
09-06-2025
- Business
- New Straits Times
LBS Bina secures RM88.4mil financing for maiden solar farm project
KUALA LUMPUR: LBS Bina Group Bhd's special purpose vehicle, Suria Hijauan Sdn Bhd, has secured an RM88.4 million green financing facility from Alliance Bank Malaysia Bhd to cover the engineering, procurement, construction and commissioning (EPCC) costs for its maiden 43 MWp solar farm project in Negeri Sembilan. The project, part of the Corporate Green Power Programme (CGPP) and located in Senawang, is slated for completion by the end of 2025. It is expected to generate about 53,000 MWh of clean energy annually, offsetting around 35,000 tonnes of carbon emissions each year. Atlantic Blue Sdn Bhd, a subsidiary of Solarvest Holdings Berhad, was appointed as the EPCC contractor under a RM104 million contract, leveraging its expertise in delivering large-scale solar projects. Tan Sri Dr. Lim Hock San, group executive chairman of LBS, said that this green financing marks an important milestone for LBS as the group diversifies into renewable energy, reinforcing its commitment to sustainability. "Securing this credit facility from a reputable bank like Alliance Bank highlights the strong potential of our renewable energy venture and our capacity to expand our initiatives within this sector. This support reflects confidence in our strategic direction and financial strength, while also facilitating the successful execution of this project," he said. Lim said that this initiative not only resonates with the group's goal of creating a positive environmental impact, but it also strategically complements LBS' core property development business by integrating future product offerings with renewable energy solutions. "In turn, this contributes to Malaysia's national carbon reduction goals, supporting the country's transition towards a low-carbon economy," he said. The solar farm is expected to provide stable, recurring revenue, enhancing LBS' long-term earnings resilience and reinforcing its dedication to sustainable growth. Alliance Bank's group chief executive officer, Kellee Kam, said, "At Alliance Bank, we believe financial institutions have a critical role to play in advancing sustainable development. We are honoured to partner with LBS, a company whose values and vision closely align with our own."
The Star
29-05-2025
- 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
29-05-2025
- 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
27-05-2025
- 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.
