KUALA LUMPUR: LBS Bina Group Bhd, a developer guided by people-first values, today successfully concluded its 24th annual general meeting (AGM).
The company's audited financial statements for the financial year ended Dec 31 2023 (FY2023) together with the reports of the directors and auditors were presented for deliberation and duly received by the group's shareholders.
All the 10 ordinary resolutions set out in the notice of AGM were duly passed by its shareholders.
This included the final single-tier dividend of 1.35 sen per share for FYE2023.
Together with the first interim single-tier dividend of 1.35 sen per share which was announced on April 17, LBS' total dividends for FYE2023 amounted to 2.70 sen per share.
"This record-high dividend underscores LBS' robust and consistent financial
performance.
"By prioritising the achievement of steady results, the group has reached
this significant milestone. This accomplishment demonstrates their commitment to delivering substantial value to shareholders and rewarding investor trust and confidence," it said.
The first dividend and final dividend will be payable on July 16 and Sept 12 respectively to the shareholders whose names appear in LBS' record of depositors on June 28 2024 and August 30 2024.
Commenting at the conclusion of the AGM, LBS group executive chairman Tan Sri Ir. Lim Hock San said the approval of the resolutions reflected a unified and positive outlook among the shareholders and the board.
"The unanimous decisions on all resolutions are a testament to the strong governance, strategic vision, and financial health of the group.
"The board extends its gratitude to
shareholders for their unwavering support and looks forward to another successful year of growth and value creation."
Lim added that as at May 31 2024, the group had unbilled sales of RM1.71 billion which will be progressively recognised in the upcoming years.
Moreover, as at May 31, LBS' land bank 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.
Year to date, LBS has launched three projects namely D'Island Residence, Alam Perdana Central Hub and Bandar Saujana Putra, with a combined
value of RM1.1 billion.
"Looking ahead, we will continue to work with the same passion and determination that have brought us thus far.
"With a clear vision, solid strategy, and steadfast commitment to excellence, I am confident we will achieve greater heights in the years to come," Lim said.
He added that LBS' dedication to social value creation and environmental preservation aligns with its ongoing commitment to incorporate sustainability into the business model.
"Sustainability aims not just to expand corporate social responsibility strategies, but to deliver social, human, and environmental benefits that enhance market competitiveness," Lim said.