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News From : DagangHalal.com (16 Jul 2010)

LBS Bina To Launch RM5b China Project Next Year

Property developer LBS Bina Group will launch its fourth project, in Zhuhai, China, in the second half of next year. The 60:40 joint venture of LBS and Jiuzhou Group, a Chinese government-linked company, has been delayed by three years because of the uncertain economic conditions. LBS managing director Datuk Lim Hock San said the master plan for the 76 ha project comprising high-end residential properties is under way. “We estimate that the project’s gross development value (GDV) will exceed RM5b,” Lim said. Lim also said that LBS is expected to be back in the black this year. It posted a net loss of RM16.8m last year. “From January up until now, we have achieved RM180m in sales. We expect more income in the second half of the year from our new launches.”

— Stock Markets Reviews.com

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