The shareholders of Lim Seong Hai Capital Berhad have unanimously approved the acquisition of Astana Setia Sdn Bhd and Lim Seong Hai Ventures Sdn Bhd leading the group to diversify its business to include property development activities.
Upon the completion of the corporate proposals, LSH Group will be in line to further expand its construction capabilities by fully integrating digital technologies to optimise its operations, enhance its range of services & solutions and deliver exceptional value to its clients. The acquisition of LSH BEST Builders Sdn Bhd in October 2021 led to the diversification into construction and construction-related services and solutions business under its BEST Framework, the Group is now utilising innovative digital tools, such as Digital Industrialised Building Systems (DIBS), Building Information Modelling (BIM), drones, and cloud platforms.
Through this LSH Capital would be able to leverage the construction expertise of ASSB to create synergy with increased efficiency, improved innovation, enhanced solutions, and larger orderbook, resulting in a stronger and more effective entity that will propel the growth and profitability of the Group moving forward.
Non-Executive Chairman, Tan Sri Datuk Seri Lim Keng Cheng, said “We will continue to implement our growth strategy and to pursue other future opportunities to further enhance the RM775.0 million outstanding construction work orderbook that we have, in addition to the the provision of construction-related services and solutions under the BEST Collaboration Framework which the Group will to be entitled to fees based on their client’s construction and property projects value of RM2.8 billion. The corporate proposal has also given us the opportunity to undertake development projects with gross development value of RM1.6 billion which will also benefit other divisions under the Group.”
