KUALA LUMPUR: LBS Bina Group Bhd has today announced that Datuk Seri Lim Bock Seng will retire as non-executive chairman and that Tan Sri Lim Hock San will succeed him as executive chairman.
The LBS board of directors also unanimously elected Datuk Wira Lim Hock Guan as the new managing director effective from March 1.
Lim has served as chairman of LBS since December 6 2001.
"He has been involved with LBS for over 40 years prior to this where the business initially revolved around the transportation activities, primarily supplying and transporting building materials like sand and aggregates for construction and infrastructure works before venturing into the construction sector itself and building up LBS into what it is today," the company said in a statement.
Lim commented: "It has been my greatest privilege to serve as the Chairman for two decades. I want to show my deepest appreciation to all the talented and dedicated colleagues in LBS whom I have worked with over the years where some have been with the LBS family long before LBS was listed.
"Together we have been through the numerous peaks and troughs of the business cycles, particularly the Asian financial crisis just before we were listed. Upon my retirement, I strongly believe LBS will be in good hands under the chairmanship of Tan Sri Lim Hock San, Datuk Wira Lim Hock Guan and the management team where they have more than demonstrated their abilities to continue growing the group."