COMPANY CONTINUES RUN AGAINST THE GRAIN OF A SLOW ECONOMY WITH A STRING OF SUCCESSES
Township developer LBS Bina Group Berhad (LBS) was recently honoured with two awards for its exemplary practices at The BrandLaureate Prominent Business BestBrands Award 2018.
Recognised for going beyond the call of duty in promoting entrepreneurship, community wellness and international bilateral ties, the company was named among the Top Ten Best Choice Prominent Brand of the Year Award in 2018 as well as The BrandLaureate Most Eminent – Prominent Business Brand Leadership Award, which was bestowed LBS managing director Tan Sri Lim Hock San.
“We are humbled and honoured by these awards. It shows the trust the industry, stakeholders and homebuyers have for the LBS brand,” Lim said at the ceremony.
“For a brand to excel and remain sustainable, it is not enough to simply exist and deliver good quality products or services. This is expected of any brand. What sets a brand apart and raises confidence among stakeholders is its proactive involvement in the community,” he added.
LBS has a presence in the local property development industry that spans over two decades. Despite the challenging market environment of the past two years, the company has defied market trends by recording the highest sales achievement in the Group’s history with RM1.43 billion in 2017 – a 15% increase from the numbers recorded in 2016.
This goes against the grain of the overall 2.7% fall in transactions the market has experienced in the same period.
LBS has attributed its positive growth to the group’s strategy of focusing on the affordable and medium housing market segment. Todate, LBS Bina has delivered over 34,000 affordable homes which include homes developed under the Rumah SelangorKu and Civil Servant Housing Scheme (PPAM) programmes.
It is also looking at innovative ways to increase the supply of affordable homes. LBS is an active promoter of the Industrialised Building System (IBS) which has proven to result in improved quality control as processes are streamlined and managed in the factory assembly line setting. Reduced manual labour required at construction sites, cleaner construction sites and quicker construction time are some of the key advantages.
Leveraging on the demand of the market for more affordable and medium range landed developments, LBS continues to enjoy positive take up rates for its newly launched developments set in up-and-coming townships such as LBS Alam Perdana and BSP.
“In the face of a dynamic market landscape, brands need to embrace change quickly and understand consumers’ needs. For example, we take into consideration how and where new homebuyers today look for information when purchasing a new home,” said Lim.
“This is why we create engaging online platforms for consumers to access our developments complete with vibrant images and a virtual reality feature. We understand young and first time homebuyers today prioritise the entire look and feel of a home and its surrounding environment,” he said.