LBS foresees recovery in property sector in 2022

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Lim is optimistic about the property outlook for this year.

Lim is optimistic about the property outlook for this year.

PETALING JAYA: LBS Bina Group Bhd (LBS) is expecting the property market to improve this year following a steady pick up of homes built by the developer. As of June 15, LBS has recorded property sales of RM816mil with bookings in the pipeline of RM683mil. 

“We have seen an encouraging pick-up in the property market as the economy recovers. Based on data released by the Central Bank of Malaysia, the cumulative total loan applications for property purchases in Q1 of 2022 is up 4.06% year-on-year. LBS is on track to launch 14 projects worth an estimated RM1.77 billion in 2022 across Klang Valley, Johor, Pahang and Perak,” said LBS executive chairman Tan Sri Lim Hock San.

The year 2021 was a fruitful year for LBS which translated to consistent dividend payouts to the shareholders, he said after the June 16 virtual annual general meeting (AGM).

“We hope with our continued focus on our business together with our consistent dividend payments in line with our dividend policy, our shareholders will continue to put their faith in us. As we navigate through 2022 cautiously in the midst of economic recovery, we look forward to continue enhancing stakeholder value as we bring LBS forward,” said Lim.

Meanwhile, LBS further announced that all 11 ordinary resolutions presented during the AGM for consideration were passed by its shareholders, including the single-tier final dividend of one sen per share (final dividend) for the financial year ended Dec 31, 2021 (FY 2021). In addition to LBS’ first interim dividend of 0.85 sen per share which was announced on April 15, LBS' total dividends for FY 2021 amounted to 1.85 sen per share.

The first interim dividend and final dividend will be payable on July 14 and Sept 15 respectively to the shareholders whose names appear in LBS’ Record of Depositors on June 30 and Aug 30, 2022 respectively.


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