A triumphant achievement
LBS Bina Group Bhd achieved a triumphant win in this year’s FIABCI Malaysia Property Award when its group managing director, Tan Sri Lim Hock San was named the Property Man of the Year — truly a fitting tribute to the man at the helm of LBS, which has built up a billion-dollar portfolio of real estate and property development.
He says, “This win was unexpected, though a pleasant surprise. It acknowledges our company’s work and has increased recognition for LBS.
“I must say that bringing the company to this level was a collective effort by each and every employee — everyone in the company has a part to play at every stage of project development, starting from conceptualisation to maintenance.
“I must admit, I was surprised when the FIABCI committee approached me for the nomination of this prestigious award. I am gratified to say that this is an indication of external recognition for LBS in the market.”
To date, LBS has various ongoing projects in its portfolio, which include Bandar Saujana Putra (BSP) — slated to be completed ahead of schedule in the first quarter of 2019. BSP 21, which encompasses 21 acres as part of Bandar Saujana Putra boasts 2,602 residential units alongside over 70 facilities and amenities.
As of now, over 95% of the available units have been sold, an indication of the success of this township.
Developed in joint venture with the Selangor state government, Bandar Saujana Putra is the first of LBS’ township and is a community in itself, being a fully self-contained township.
This is just one of the developments that LBS has under its belt. Other developments include LBS Alam Perdana, D’ Island Residence — the company’s first high-end development, Residensi Bintang Bukit Jalil as well as the upcoming Kita @ LBS CyberSouth.
Tan Sri shares his thoughts on how developers can play a part in taking the industry to the next level.
“The government has been encouraging the development of affordable homes. Next year, the property market will be quite tough. I foresee homes priced above RM600,000 would not be easy to sell, especially since Bank Negara Malaysia is stricter with loan requirements. Another reason would be due to market sentiments.
“Buyers today are more knowledgeable and do their research. Therefore, a company needs to have a good reputation and strong financials to enhance buyers’ confidence.
“Next year, LBS plans to launch about 10 thousand units of homes within the price bracket of RM300,000 to RM350,000.
“In fact, plans are afoot for the next two years, as I believe in planning in advance.”
He adds, “Affordability, connectivity and community — all these must be present in a development, which has been a tactic undertaken by LBS.
“I also believe in addressing complaints immediately. All these combine to contribute towards the success of a development.
“I reiterate that reputation is of utmost importance and am proud to say that at LBS, we do our best.”
On a personal note, Tan Sri has come a long way since his humble start in the industry, helping out with his father’s construction company.
The hardship he underwent during the 1986 recession prompted him to become a developer.
During this time, he learned to handle crisis and quickly adapt to market conditions.
Another challenge cropped up during the financial crisis in 1998.
During this trying time, LBS bought land in Bukit Serdang and built low medium-cost houses, which earned the company quick turnaround that enabled it to pay off loans.
In 2007, the company faced another challenge when it invested heavily in a China project that didn’t come to fruition.
Due to cash flow problems arising from the heavy investments, LBS had to sell off more assets to pay off its loans.
This shows how readily adaptable LBS is to market conditions.
As Tan Sri says, “We are quick to change and respond to challenges.”
Tan Sri has also been actively involved in non-governmental organisations, believing it to be a networking and leadership-building opportunity.
A firm believer in networking and exchanging information, Tan Sri comments, “Everyone has different ideas and knowledge, which can be used to improve the company.
“I believe in the importance of feedback, good or bad. If bad, then steps must be taken to rectify it. We have to work hard to keep improving ourselves every single day, both professionally and personally.”
He adds, “In line with our growth, giving back to the communities around us is a crucial area I am passionate about. The LBS Foundation encompasses the aspects of Education, Community, Environment and Health.”
With such stellar leadership, LBS is definitely heading towards making big strides towards the future and making an impact in the industry.
*Find out more about LBS at www.lbs.com.my.