LBS Bina Group

Re: LBS Bina Group

Postby sschong92 » Wed Oct 29, 2014 8:20 am

not vested

LBI Capital plans JV with LBS Bina on RM370m project

24 January 2014

PETALING JAYA: Property player LBI Capital Bhd has proposed to sign a joint venture agreement with LBS Bina Group Bhd to develop three blocks of service apartments and a hotel block with a gross development value (GDV) of RM370mil.

In a filing with Bursa, LBI Capital’s unit Triple Equity Sdn Bhd, which owns the 21,660 sq m leasehold land in Gohtong Jaya, Pahang, said it should be entitled to 15% or RM55.5mil of the GDV.

LBS Bina’s wholly-owned subsidiary, Equal Sign Sdn Bhd as the developer, would pay the landowner RM500,000 upon the execution of the agreement.

Upon approval from the suppliers of main utilities to the project by the landowner, LBS Bina would pay LBI Capital RM1mil, it added.

The company said the developer would pay the landowner RM1mil within 12 months from the second cash payment or the charging of the development land, whichever is earlier.

Its original investment cost was RM5.5mil.

It also said the proposed development should be completed within five years with a further extension of two years subject to interest of 6% per annum.

According to LBI Capital, the development comprised 610 serviced apartments and a hotel with 186 rooms at the matured Gohtong Jaya township, which is along the main road to Genting Highland.

LBI Capital has secured the development order and building plan approval for the project, it added.

It expected the JV to contribute positively to its earnings within the next five years.

Source: The Star
sschong92
Loafer
 
Posts: 32
Joined: Sun Oct 05, 2014 4:54 pm

Re: LBS Bina Group

Postby sschong92 » Wed Oct 29, 2014 8:21 am

not vested

LBS Bina plans RM2b property project in Johor Bahru (update)

KUALA LUMPUR: LBS Bina Group Bhd plans to undertake a mixed property project in Johor Bahru with a gross development value of RM2bil following the purchase of 4.32 acres of leasehold land from the Employees Provident Fund (EPF) for RM71.82mil.

LBS Bina said on Friday the project would comprise of 2,700 units of residential and commercial properties with an estimated GDV of RM2bil spread over eight years. The units would comprise of retails units, hotel suites, small office home office units and service apartments.

Its unit Sinaran Restu Sdn Bhd had signed two sales and purchase agreements with the EPF to acquire two pieces of 99-year leasehold land, totalling 17,514 sq metres in Bandar Johor Bahru for cash consideration of RM71.82mil.

To recap, Sinaran Restu had on July 6, 2013 signed an agreement with Hotel Rasa Sayang Sdn Bhd to buy a 1.18 acres piece of freehold land in Johor Bahru.

LBS Bina explained the land purchased from the EPF is contiguous to the existing site and they would form a large plot of land with total area of 5.5 acres for better development planning.

Subsequent to the acquisition of the EPF land, the proposed project on the existing land would be revised and advanced from a project only consisting 579 units service apartment with GDV of about RM500mil into a mixed development project.

"It is also in line with the overall group's strategy to enlarge its land banks in different states in the country, especially in the Central Business District of Johor Bahru which is within Zone A of Iskandar Malaysia, to meet and tap on the increasing demand from its properties in Johor.

"The revised proposed development which is expected to be commenced in year 2015 enables the group to make fast turnaround on the development land which benefits both the purchasers as well as the company," it said.

Source: The Star
sschong92
Loafer
 
Posts: 32
Joined: Sun Oct 05, 2014 4:54 pm

Re: LBS Bina Group

Postby sschong92 » Wed Oct 29, 2014 8:22 am

not vested

LBS Bina eyes RM3.8bil GDV over next 2 years

25 February 2014

By: NG BEI SHAN

LBS Bina managing director Datuk Seri Lim Hock San says the company is eyeing property projects with GDV of RM3.8bil, and perhaps higher because of the joint ventures it is exploring.

PETALING JAYA: Property developer LBS Bina Group Bhd is eyeing rolling out more than RM3.8bil’s worth of projects in 2014 and 2015.

Speaking to reporters at the preview of the 2014 China (Guangdong)-Malaysia Bilateral Relations Forum, managing director Datuk Seri Lim Hock San said the gross development value forecast might be even higher because of the joint ventures LBS was exploring.

''We are still in talks for a few potential tie-ups but we can't disclose the details yet," he said.

Lim also said the company would continue to build more affordable housing, and would focus on Johor in its coming ventures.

LBS’s main income contributors include Cameron Highlands Golden Hill, 121 shophouses in Kuantan, Bandar Saujana Putra, D' Island at Puchong and its landed properties in Batu Pahat.

Currently, it owns 2,037 acres (824ha) throughout Malaysia with 524 acres (212ha) in Johor.

As for the forum, LBS Bina is one of the main sponsors of the event, which celebrates the 40th anniversary of diplomatic relations between Malaysia and China.

The main organisers are the Malaysian Chamber of Commerce and Industry (Maycham-Guangdong), the Malaysia-Guangdong Chamber of Investment Promotion (MGCIP) and the China Council for the promotion of International Trade in Guangdong.

Lim is also the president for Maycham and MGCIP. The organisers expect 200 participants for the event.

Source: The Star
sschong92
Loafer
 
Posts: 32
Joined: Sun Oct 05, 2014 4:54 pm

Re: LBS Bina Group

Postby winston » Thu Jun 02, 2016 9:03 am

not vested

Stronger sales in 2H16

1Q16 net profit met our expectations at 27% of our full-year forecast. However, it fell short of the street’s estimate (21% of the consensus full-year forecast).

The group sold RM265m (US$65m) worth of properties in 1Q16. Management remains confident that its full-year sales target of RM1.2bn (US$293m) will be met.

No dividend was declared, as expected.

We maintain our EPS, Add rating, and TP, based on a 40% discount to RNAV.

Stronger sales and rising profit are the key potential re-rating catalysts.

Target price based on a 40% discount to RNAV

We continue to value the stock based on a 40% discount to its RNAV. The target valuation discount is wider than the 20-30% discounts attached to other big-cap developers’ valuations given LBS’s smaller size and shorter track record.

The key downside risk to our RNAV and target price is a further deterioration in the property market and a prolonged delay in obtaining the approval to upgrade ZIC.

Source: CIMB

https://brokingrfs.cimb.com/7A5XkD25X50 ... C10bg2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108866
Joined: Wed May 07, 2008 9:28 am

Re: LBS Bina Group

Postby winston » Fri Jun 10, 2016 8:21 am

not vested

LBS Bina to launch more landed properties

BY INTAN FARHANA ZAINUL

Most of LBS’s landbank is located in the Klang Valley, Pahang and Johor.


Source: The Star

http://www.thestar.com.my/business/busi ... roperties/
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108866
Joined: Wed May 07, 2008 9:28 am

Re: LBS Bina Group

Postby winston » Mon Aug 01, 2016 9:13 am

not vested

LBS Bina’s potential monetisation of its China landbank, valued at least RM425m (45% of its market cap) could potentially re-rate the stock.

Talks are ongoing with the local government which would lead LBS to either:
a) undertake an outright sale or
b) partner with a local to develop part of the 264-acre land parcel.

Aside from that, its focus on affordable developments has enabled it to deliver decent property sales in the turbulent property market.

Maintain BUY with a target price of RM1.73.

Source: UOBKH

https://research.uobkayhian.com/content ... 63cd06cf39
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108866
Joined: Wed May 07, 2008 9:28 am

Re: LBS Bina Group

Postby winston » Thu Aug 04, 2016 8:13 am

not vested

LBS Bina's subsidiary to develop township in Dengkil

BY M. HAFIDZ MAHPAR

Source: The Star

http://www.thestar.com.my/business/busi ... n-dengkil/
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108866
Joined: Wed May 07, 2008 9:28 am

Previous

Return to L to R

Who is online

Users browsing this forum: No registered users and 1 guest