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One of the main issue with LBS is the slow property launches. They always set high GDV target every year and most of the time cannot hit the target, due to project delays. Look at the Solar Farm Project, it was suppose to be completed end of 2025 and operational early this year but the completion date has been delayed till end of this year. Tan Sri said the 8x8 Strategy will see an average of RM 2.6 billion GDV launch each year from 2025 to 2027 but in the first year the Company has failed to hit target. Now in 2026 which is the 2nd year of the 8x8 Strategy, I think they will yet again fail to hit the target because the 1st QR is quite bad, and LBS barely launch anything substantial in the first 4 months of the year. The Management is either sleeping or not working hard enough.
Maybe KWAP have come to their senses to re-invest in stable company that can provide recurring dividend income annually instead of fast investment in startup like eFishery where KWAP lost RM 200 million.
