LBS Bina Group Berhad (LBS or the Group), a developer renowned for its people-first values, has proudly secured the “Highest Growth in Profit After Tax Over Three Years” award in the property sector category at The Edge Billion Ringgit Club Awards 2024. The prestigious event took place at St. Regis, Kuala Lumpur, and was officiated by Prime Minister Datuk Seri Anwar Ibrahim.
The accolade was presented to Lucas Lim Kim Kiat, LBS Deputy Chief Executive Officer, recognising the Group’s exceptional financial performance over a three-year evaluation period. The Edge Billion Ringgit Club (“BRC”), which has been honouring top-performing Malaysian companies since 2010, highlights firms listed on Bursa Malaysia Securities Berhad with a market capitalisation of at least RM1 billion.
This award celebrates LBS’s impressive improvement in its profit after tax and minority interests (“PATMI”) from 2021 to 2023. The Group achieved remarkable financial results in 2023, with revenue reaching RM1.8 billion. PATMI rose consistently from RM95.6 million in 2021 to RM128.5 million in 2022, and further to RM141.0 million in 2023. The Group’s 21.4% compound annual growth rate in PATMI over the three years underscores its successful alignment with market needs, resulting in strong sales and effective cost management despite economic uncertainties.
Datuk Wira Lim Hock Guan, Group Managing Director / Chief Executive Officer of LBS, expressed his appreciation for the award, stating, “We are incredibly honoured to receive this recognition, which reflects our unwavering focus on financial performance and operational efficiency. Our consistent efforts to enhance profitability year-on-year highlight the strength of our business model and the dedication of our team. This achievement motivates us to continue innovating and leading the industry in residential, industrial, and commercial property development.”
He also noted the Group’s recent win of Malaysia’s Best Managed Companies Award for the third consecutive year, further validating LBS’s excellence and leadership. Looking ahead, Datuk Lim remains cautiously optimistic about the Group’s growth trajectory, supported by its extensive landbank of 2,654 acres and an anticipated gross development value (GDV) of RM33 billion. Additionally, the Group’s unbilled sales of RM1.6 billion as of 30 June 2024 will contribute to strong earnings visibility and sustained growth potential.
LBS Bina Group Berhad’s continued commitment to creating high-quality, affordable homes and adapting to evolving market trends positions it well for future success in the property sector.
