LBS Bina proposes first & final gross dividend of 2.5 sen

KUALA LUMPUR (April 30): LBS BINA GROUP BHD [] has proposed a gross first and final dividend of 2.5 sen per ordinary share of RM1.00 for the financial year ended Dec 31, 2011

In a filing to Bursa Malaysia Securities Bhd on Monday, the company said the dividend was subject to the shareholders’ approval at its the forthcoming Twelfth Annual General Meeting.



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LBS Bina secures RM124.6m financing from MBSB

KUALA LUMPUR (March 1): Property developer LBS BINA GROUP BHD [] (LBS Bina) signed an agreement for term and bridging financing facilities of up to RM124.6 million with MALAYSIA BUILDING SOCIETY BHD [] (MBSB) on Thursday.

The financing facilities would be used for the CONSTRUCTION [] of D' Island Residence, its high end development in Puchong.

The financing facilities consist of term and bridging financing and they would be used to finance two phases of LBS' D' Island Residence, namely Balvia and Nautilus.

D'Island Residence has an estimated gross development value (GDV) of RM3.6 billion and is expected to take five to seven years to be completed.



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LBS targets RM1b annual property sales

PETALING JAYA: LBS Bina Group Bhd is targeting RM1 billion worth of annual property sales in the near term as the company focuses on various segments of the residential market apart from commercial and industrial real estate.

Managing director Datuk Lim Hock San said the target was deemed achievable as the company was expected to achieve property sales of RM800 million and RM950 million for financial years 2012 and 2013 respectively. This will be boosted by the developer’s offerings in the affordable, medium and high-end segments.

“We are confident,” Lim told reporters after the company EGM yesterday. In 2011, LBS raked in property sales of RM650 million. Its unbilled sales stood at RM649 million as of last year.

LBS takes aim... LBS Bina Group Bhd is targeting RM1 billion worth of annual property sales in the near term, managing director Datuk Lim Hock San (centre) told a press conference yesterday. With him are executive directors Cynthia Lim (left) and Alan Chia

Lim, who acknowledged that 2012 would be a tough year for global business, said LBS’ RM1 billion target was subject to the macro landscape.

Apart from the ongoing European debt crisis, Lim also highlighted the threats of rising construction and land costs which could crimp the company’s bottom line.

Last year, LBS lined up 16 launches involving 2,400 properties worth about RM1.5 billion. These are in addition to the 21 existing projects with a gross development value of RM665 million, according to Lim.

LBS’ 2,300-acre landbank across Selangor, Johor, Perak and Pahang can accommodate about RM9.1 billion worth of properties, according to Lim. The developer also has around 200 acres in China.

In Malaysia, LBS’ existing projects include the upmarket RM3.5 billion mixed development D’Island Residence within a 175-acre tract in Puchong and the RM3 billion Bandar Saujana Putra affordable properties on a 835-acre tract within the southern corridor of Selangor. Elsewhere, LBS is the developer of Taman Golden Hills in Cameron Highlands in Pahang and Bandar Putera Indah in Batu Pahat, Johor.

Lim said LBS might venture into Sabah and Sarawak, but this would hinge on the feasibility of the property development projects. Lim said the firm had been approached to undertake projects in Sabah, but he declined to provide details.

“Although 2012 will be a challenging year globally, we believe the demand for property in Malaysia will remain strong as prices continue to rise although at a lower rate.

“As part of our multi-pronged strategy, we will aggressively develop not just residential homes but also non-residential property,” Lim said.

Commercial and industrial projects by LBS include the Tasik Perdana Industrial Park in Puchong and Saujana Business Park within Bandar Saujana Putra.

LBS’ strategy is bearing fruit as net profit rose more than five times to RM27.7 million in the nine months ended Sept 30, 2011 from RM5.32 million a year earlier, while revenue grew 59% to RM302.06 million from RM190.43 million. The better numbers were supported by progressive recognition of earnings from LBS’ ongoing property projects.

At the EGM yesterday, shareholders of LBS approved the company’s proposal to buy back up to 10% of the company’s shares from the open market. Lim said the buybacks highlighted the company’s concern that its shares were undervalued.

The stock closed at 78.5 sen, rising one sen from its previous close on Dec 30. Its latest net assets per share stands at RM1.08.



This article appeared in The Edge Financial Daily, January 4, 2012.


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LBS Bina advances on RM1b annual sales target

KUALA LUMPUR (Jan 4): LBS BINA GROUP BHD [] shares advanced on Wednesday after the company said it was targeting RM1 billion annual property sales target in the near term as the company focuses on the various segments of the residential market apart from commercial and industrial PROPERTIES [].

At 9.25am, LBS was up two sen to 80.5 sen with 1.43 million shares done.

Its managing director Datuk Lim Hock San on Tuesday said LBS was expected to achieve property sales of RM800 million and RM 950 million in the financial year ending Dec 2012 and 2013 respectively.



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Stocks to watch: Maybank, OSKVI, LBS Bina, Maxbiz

KUALA LUMPUR (Jan 4): Stocks on Bursa Malaysia could open on a firmer note on Wednesday as sentiment would be underpinned by firmer external events.

Overnight on Tuesday, the Dow Jones industrial average rose 179.82 points, or 1.47 percent, to 12,397.38. The S&P 500 Index added 19.46 points, or 1.55 percent, to 1,277.06. The Nasdaq Composite gained 43.57 points, or 1.67 percent, to 2,648.72.

The US market's rise was foreshadowed by a large jump in stock index futures after weekend data showed China, the world's largest consumer of metals, avoided economic contraction in December.

Though the FBM KLCI closed down 1.12% or 17.19 points to 1,513.54 on Tuesday, weighed by losses at banking and key blue chips, the broader market was steadier with gainers leading losers by 446 to 325.

Wall Street opened higher as better-than-expected Chinese and German data boosted optimism about the global economy, according to Reuters.

Among the stocks which could see trading interest are MALAYAN BANKING BHD [], OSK VENTURES INTERNATIONAL BHD [] (OSKVI), LBS Bina Bhd and MAXBIZ CORPORATION BHD [].

Maybank has been given a further extension until June 1, 2012 to sell down its stake in PT Bank Internasional Indonesia Tbk (BII).

Maybank had received a letter, dated Dec 27, from Indonesia’s Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam) where the latter had given it more time to undertake the corporate exercise. Maybank owns 97.5% of BII which it had acquired in 2008.

OSK HOLDINGS BHD [] director Ong Leong Huat @ Wong Joo Hwa has been buying shares of OSK Ventures International Bhd. He bought 930,000 shares on Dec 27 at 31 sen a piece and 600,000 shares the next day at an average price of 30.1 sen.

The recent acquisitions raised his direct shareholding in OSKVI to 25.86% or 50.62 million shares.

LBS BINA GROUP BHD [] is targeting RM1 billion annual property sales target in the near term as the company focuses on the various segments of the residential market apart from commercial and industrial PROPERTIES [].

Managing director Datuk Lim Hock San said LBS was expected to achieve property sales of RM800 million and RM 950 million in the financial year ending Dec 2012 and 2013 respectively.

Maxbiz has received a letter of intent (LOI) in respect of a fibre-to-the-home and fibre-to-the-office (FTTX) contract worth RM510 million.

The company had received the LOI from Fiber-N Sdn Bhd on Dec 30, 2011 for the infrastructure works for 100,000 FTTX connections on high rise residential and office buildings in Klang Valley, Penang and Johor Bahru.

ESTHETICS INTERNATIONAL GROUP [] Bhd’s rights issue of 52.80 million new shares and 52.80 million free detachable warrants were undersubscribed by 28%.



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LBS Bina eyes RM1b sales in 2 years

Property developer, LBS Bina Group Bhd, aims to achieve sales of RM1 billion in two years in view of the strong demand despite cautious market sentiment, says managing director Datuk Lim Hock San.

He said the company aimed to achieve RM800 million in sales this year backed by 16 new launches and 21 ongoing projects and RM950 million in 2013.

"Currently, we have some 920-hectare land bank with an estimated gross development value (GDV) of RM9.1 billion to keep us busy for the next few years," he told reporters after the company's annual general meeting in Kuala Lumpur today.

Lim said the company would launch 16 projects, comprising 2,426 units with a GDV of RM1.5 billion, together with some 21 ongoing projects with a value of RM665 million.

"These include projects in D'Island Residence, Bandar Saujana Putra, Taman Golden Hills in Cameron Highlands and Bandar Putera Indah in Batu Pahat, Johor," he said. -- BERNAMA



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Flash: LBS Bina targets RM1 bln annual property sales target

KUALA LUMPUR (Jan 3): LBS BINA GROUP BHD [] is targeting RM1 billion annual property sales target in the near term as the company focuses on the various segments of the residential market apart from commercial and industrial PROPERTIES [].

Managing director Datuk Lim Hock San said on Tuesday that LBS was expected to achieve property sales of RM800 million and RM950 million in the financial years ending Dec 2012 and 2013 respectively.

"As such, we are confident" Lim told reporters after the EGM.

He also indicated that LBS might venture into Sabah and Sarawak, but this would hinge on the feasibility of the property development projects.

Lim said the firm had been approached to undertake projects in Sabah. He declined to elaborate.



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LBS Bina bullish on meeting sales target

Property developer, LBS Bina Group Bhd, is confident of achieving RM800 million sales target despite tough market conditions.

In a statement today, managing director, Datuk Lim Hock San, said 2012 was expected to be a challenging yet confident year for LBS.

He said My First Home Scheme and other government initiatives would contribute 20 per cent to the group's total revenue.

"Currently, LBS Bina has a land bank of some 920 hectares with an estimated gross development value (GDV) of RM9.1 billion, that will keep it busy for the next few years," he said.

Lim said LBS Bina would be launching 13 projects comprising 2,085 units with a GDV of RM1.5 billion together with some 19 ongoing projects with a GDV of RM562 million.

He expected landed property for both affordable homes and high-end homes would be the highlight next year amid scarcity of land in urban areas.

"At the same time, property prices would continue increasing but at a lower rate compared to this year, especially in a 'central' location," he said. -- Bernama



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CIMB Research has technical buy on LBS Bina Group

KUALA LUMPUR (Dec 1): CIMB Equities Research has a technical buy on LBS Bina Group at 81.5 sen, at which it is trading at a price-to-book value of 0.7 times.

It said on Thursday that LBS Bina Group is challenging the downward slopping resistance channel.

“If prices can swing above the 83 sen level, there is a good chance that the stock may re-rate towards the next resistance at 87 sen. Thereafter, prices should edge closer towards the July’s high of 955 sen,” it said.

CIMB Research said the technical indicators remain compelling. MACD is hovering in the positive territory while RSI is above the 50 pts mark.

“Only risk takers should look at this stock as prices could still trend sideways. Be quick to cut loss if the 77 sen level is breached,” it said.



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