LBS concludes 24th AGM, recording highest dividends

SHAH ALAM - LBS Bina Group Bhd successfully concluded its 24th Annual General Meeting (AGM) today, recording the highest dividends amounting 2.70 sen per share.

During the meeting, the audited financial statements for the financial year ending Dec 31, 2023 (FYE2023), along with the directors and auditors reports, were presented and accepted by the shareholders.

All ten ordinary resolutions outlined in the AGM Notice were passed, including the final single-tier dividend of 1.35 sen per share ("Final Dividend") for FYE2023.

Combined with the first interim single-tier dividend of 1.35 sen per share ("First Dividend") announced on April 17, LBS' total dividends for FYE2023 amounted to 2.70 sen per share.

This record-high dividend highlights LBS's strong and consistent financial performance. By focusing on steady results, the group has achieved this significant milestone, demonstrating its commitment to delivering substantial value to shareholders and rewarding their trust and confidence.

The First Dividend and Final Dividend will be payable on July 16 and Sept 12 respectively, to shareholders listed in LBS’ Record of Depositors on June 28 and Aug 30.

Commenting on the AGM's conclusion, LBS Group Executive Chairman Tan Sri Dato’ Sri Ir. (Dr) Lim Hock San said the approval of the resolutions at this 24th AGM reflects a unified and positive outlook among shareholders and the board.

"The unanimous decisions on all resolutions are a testament to the strong governance, strategic vision, and financial health of the group.

The Board extends its gratitude to shareholders for their unwavering support and looks forward to another successful year of growth and

value creation," he said.

As of May 31, the group has unbilled sales of RM1.71 billion, which will be progressively recognised in the upcoming years.

Additionally, LBS' land bank, totaling 2,661 acres will continue to drive growth and profitability, reaffirming its commitment to maximising shareholder value and delivering sustainable long-term returns.

Year-to-date, Lim said LBS has launched three projects: D'Island Residence, Alam Perdana Central Hub, and Bandar Saujana Putra, with a combined value of RM1.1 billion.

"Looking ahead, we will continue to work with the same passion and determination that have brought us thus far. With a clear vision, solid strategy, and steadfast commitment to excellence, I am confident we will achieve greater heights in the years to come.

"LBS' dedication to social value creation and environmental preservation aligns with its ongoing commitment to incorporate sustainability into the business model.

"Sustainability aims not just to expand corporate social responsibility strategies, but to deliver social, human, and environmental benefits that enhance market competitiveness," he added.