LBS Bina Group Bhd executive chairman Tan Sri Dr Lim Hock San (centre) with the company's board of directors after the annual general meeting

KUALA LUMPUR (June 13): Property developer LBS Bina Group Bhd (KL:LBS) said on Thursday that it has unbilled sales of RM1.71 billion as at end-May, which will be recognised in the upcoming years.

The company has launched three projects this year, totalling RM1.1 billion in value, according to a statement. These projects include D'Island Residence in Puchong, Alam Perdana Central Hub in Puncak Alam, and Bandar Saujana Putra in Kuala Langat.

"LBS Bina's land bank (as at end-May) totalling 2,661 acres will continue to drive growth and profitability, while reaffirming its commitment to maximise shareholder value and deliver sustainable long-term returns,” said its executive chairman Tan Sri Dr Lim Hock San, following the conclusion of the company’s annual general meeting (AGM).

LBS Bina said that all 10 resolutions at the AGM, including the approval of a final single-tier dividend of 1.35 sen per share for the financial year ended Dec 31, 2023 (FY2023), were successfully passed by its shareholders.

Including the previously declared first interim single-tier dividend of 1.35 sen per share in April, LBS Bina has recorded a total dividend payout of 2.70 sen per share for FY2023, marking its highest dividend distribution in the past five years.

Shares of LBS Bina closed down four sen or 4.5% at 85.5 sen on Thursday, giving it a market capitalisation of RM1.35 billion.