LBS Bina: Our digital platforms were ready when Covid-19 happened

KUALA LUMPUR (Aug 15): LBS Bina Group Bhd’s digital investments made before the Covid-19 pandemic “are starting to bear fruit”, The Edge Malaysia reported.

“Many people stayed at home. They had more time to study the property market and do more research.

“As for us, we are fortunate that we had started our digital and technology adoptions even before the coronavirus hit us,” group managing director Tan Sri Lim Hock San (pictured) told the weekly.

He revealed that LBS received online bookings for 810 of its property units worth RM337 million during the Movement Control Order (MCO) from March 18 to June 9.

“We have always known that social media can be very powerful. So, when Covid-19 happened, our digital platforms were ready and our marketing team was able to get in touch with the prospective buyers via these platforms, which include virtual showrooms, website, email, WhatsApp, Facebook, Instagram and SMS,” Lim explained.

He added that even though potential buyers could not visit the closed showrooms, house viewings could still take place with virtual reality.

The developer has also “digitalised” its sales and purchase (S&P), “enabling the firm to shorten the processing time and improve its work efficiency”.

“Previously, we had to manually send the documents. Today, with robotic processing automation, we are able to extract sales data from a type of system into a data sheet, which simplifies processes for lawyers to prepare the S&P payment schedule page and proceed with stamping,” Lim added.

He plans to have LBS carry out “the whole home-buying process” online in the future, with the company “in the midst of improving its digital and technology adoption”.

Lim says the group is confident about exceeding its “revised” sales target of RM1 billion for the year.

“Obviously, for us to achieve the revised target of RM1 billion is not a problem because we are almost there.

“With the encouraging momentum of our township projects, we are working very hard and remain hopeful of reaching our earlier sales target of RM1.6 billion. Of course, it depends on the market situation.”

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Read the full report in this week’s The Edge Malaysia

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