LBS On Track To Meet Full Year Rm1.5 Billion Sales Target
By Roubeeni Mohan
Leading township developer, LBS Bina Group Berhad (LBS), is on course to achieve its RM1.5 billion sales target for 2019, on the back of strong take-up rates for its townships and affordable housing developments as well as steady construction progress.
The company has secured RM1.0 billion sales to date, with over 75 per cent of the sales revenue contributed by on-going projects located in the central region, including LBS Alam Perdana township in Bandar Puncak Alam, Kita @Cybersouth township in Dengkil, and Residensi Bintang Bukit Jalil condominium.
Tan Sri Lim Hock San – LBS Bina Group Managing Director
“LBS is in a strong position to meet its sales target for this year. We have been focusing on launching more affordable units within self-sustaining and matured townships, with good designs, amenities and easy accessibility, which has helped us to ride through the current challenging economic climate,” said Tan Sri Lim Hock San, Managing Director of LBS Group.
The Group has recorded revenue and profit before tax (PBT) of RM646 million and RM75 million respectively in the first six months ended 30 June 2019. This represents a 19 per cent increase in revenue, from RM 545 million as at 30 June 2018. Unbilled sales stood at RM1.92 billion as at 31 July 2019. During the first half of 2019, LBS launched two new projects, mainly the Kita Harmoni and Kita Impian at Kita @ Cybersouth township.
The Group has lined up new launches including ‘Melodi Perdana’ apartment of LBS Alam Perdana and Tower 2 (South Tower) of Residensi Bintang Bukit Jalil which expected to be rolled out in the last quarter of 2019.
These projects feature LBS’ fundamental pillars of affordability, connectivity and community to meet the current requirements of homebuyers.
Moving forward, the Group also plans to widen the adoption of the Industrialised Building System (IBS) for its future developments. The use of IBS has proven to significantly reduce construction period and delivery periods, which in turn, improves cost-efficiency.
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