MGB executive vice-chairman Tan Sri Lim Hock San said: “We are delighted to have received the support of our shareholders and achieved a positive outcome at our AGM. This year has been a tumultuous year with geopolitical issues and inflation being the common enemy of construction companies."
PETALING JAYA: MGB Bhd
, a subsidiary of LBS Bina Group Bhd, saw all its nine resolutions passed by its shareholders at its AGM yesterday.
The shareholders approved, among others, the payment of a single-tier final dividend of 0.493 sen per share for the financial year ended Dec 31, 2021.
The dividend, amounting to RM2.92mil, would be payable on July 20, 2022, to the shareholders whose names appear in the record of depositors on June 28 this year.
In addition, MGB has received an approval to buy-back up to 10% of its existing shares in the company. The AGM was conducted on a virtual basis for the second time.
MGB executive vice-chairman Tan Sri Lim Hock San said: “We are delighted to have received the support of our shareholders and achieved a positive outcome at our AGM. This year has been a tumultuous year with geopolitical issues and inflation being the common enemy of construction companies.
MGB Construction
“Nevertheless, we will push on strong and continue to deliver our projects. So far, MGB has built more than 19,000 units of properties, leveraging on the use of our in-house Industrialised Building System (IBS) which has completed more than 5,000 housing units.
“As of May 31, 2022, our construction order book stands at a healthy RM1.64bil while we have an estimated gross development value of RM2.15bil under our property development segment. MGB is in good shape to deliver steady revenue over the next few years.
“We are pleased to have received approval to pay out the 0.493 sen per share dividend to our shareholders.
“Notably, this will be the first final dividend to be paid out in our company’s history. We hope to continue rewarding our shareholders as MGB marches forward.”
Established in 2007, MGB has evolved into a construction and property development solutions provider, primarily focusing on providing efficient and cost-effective solutions across a wide range of industries, in particular building mass market and affordable living spaces for generational living in the country. Through its subsidiaries, MGB provides a full range of design, construction and development services including design and build, project management, civil engineering, value engineering, geotechnical specialisation, and manufacturing in IBS precast concrete products.The company has a strong track record, with more than 14 years in design and build to general construction for residential, commercial and industrial buildings as well as infrastructure works.
MGB has completed more than 19,000 units of properties, particularly in the affordable homes segment. In addition, it has also built more than 5,000 homes using their IBS technology.
