LBS Bina posts 14% profit growth in 3Q despite lower revenue, higher finance costs
Net profit rose to RM40.
Net profit rose to RM40.
LBS Bina's second proposal is to provide incentives for the adoption of the industrialised building system (IBS) precast system for developers that incorporate the system into their housing projects, as this can help reduce construction costs and make housing more accessible.
The company said Lee and his spouse Datin Seri Joanne Yew Hong Im are currently the group’s largest substantial shareholders, with 120.
Kelvin is the son of Datuk Seri Lee Tian Hock, who is also the single largest shareholder of the group with an 11.
The group said Advance Opportunities Fund and Advance Opportunities Fund I have ceased to be the group’s substantial shareholders, with the former offloading its entire 65 million shares or 10.
Going forward, LBS Bina executive chairman Tan Sri Lim Hock San said LBS Bina will continue to increase operational efficiency to improve its profit margins and ensure long-term business sustainability.
“Ahead of the announcement, LBS wishes to make various proposals which it believes is crucial towards revitalising the property sector and is hopeful that the government will take these into account.
The company handed over 2,957 units in 2022.
“Klang Valley, in particular, showcased a commendable take-up rate, contributing 89% of the total sales figure.
PETALING JAYA (Jan 5): LBS Bina Group Bhd achieved RM1.