LBS Bina to continue building affordable houses


Lim: We expect loan cancellations to continue into 2019 at a similar rate like in 2018.

Lim: We expect loan cancellations to continue into 2019 at a similar rate like in 2018.

PETALING JAYA: Against a subdued property market backdrop, LBS Bina Group Bhd is maintaining its strategy of building affordable, middle-cost housing that caters to market demand.

The property developer has performed well despite a market downturn, having achieved sales of RM1.526bil in 2018, which translates to a 7% growth compared with RM1.426bil in 2017.

This marks the fourth consecutive year of improved results with a 25% compounded annual growth rate (CAGR) from 2014 to 2018.

According to LBS Bina group managing director Tan Sri Lim Hock San, some 50% of bookings were cancelled last year due to Bank Negara’s stringent loan policies.

“We expect loan cancellations to continue into 2019 at a similar rate like in 2018.

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