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No worries. LBS annual Dividend Policy is 30% of its net profit. Without doubt there will be dividend for FY 2024.
The announcement of dividend should be around April based on historical pattern.
Because LBS core business is Property Development, while MGB core business is Construction. MGB mostly receive contract award internally from LBS.
Yes agreed that LBS 4th QR is not as good as precedent quarter because most of LBS's current projects are near completion and the Company has a lot of new projects with delay approvals for launch. It is expected to see the Company to pick up its earnings in 2Q2025, in consideration of their latest and biggest project launch (Rimbawan Township) with a total GDV of RM 9.5 billion and also the recently announced Centrum Iris with a total GDV of RM 472 million, all of which aggregate to a roundup of RM 10 billion worth of project to keep LBS busy for another 3-5 years.
Apart from Property Development segment, yes it is rather disappointing to see the Johor LRT project did not go as expected in consideration that the Govt. decided to go with ART instead of LRT, but lets not forget that by end of this year or early next year, LBS is expected to have a new revenue stream added to its revenue segment as the Company will have its own Solar Farm to operate.
On the subject of Renewable Energy, if things go well with the proposed hydrogen plant at Sabah, this will further propel LBS in the Renewable Energy industry which will be playing an important role as more Data Centers will be established in Malaysia.
Other Segments such as Hotel Operations is still making losses but there have been much improvement comparatively between FY2023 & FY2024, which is a good sign on its operation management.
Last but not least, it is understandable that the share price is not looking good, but given the good management team, long list of good upcoming projects, healthy landbanks and together with the high management continuous purchase of its own shares, hopefully this is enough to keep investors confidence in the Company.
Latest News: Federal have decided to choose ART over LRT.
2 weeks ago Anthony Loke said to potential bidders to submit proposal within 4 months for LRT/ART.
Not even one month gone by, Govt. decided to choose ART and forgo LRT. They fail to learn Indonesia's mistake. Such short sightedness.
Yes, LRT may be more expensive and require more time to built it, but it is more efficient and reliable in the long run as compared to ART.
ART is no different from any vehicle taking space on the road. Despite Govt. proposed an elevated ART, but the elevation will only be at certain parts along the route. If traffic jam is at its worst or if there is flood, ART will be redundant.
Govt. gave reason for choosing ART is because it is cheaper and faster to built but LRT had been proposed long before this. If they had made the decision years ago, it would be close to completion by now. And the excuse on the high costs is ridiculous since the project is going to be funded mainly by private entities.
Years ago LBS had already far sight on the RTS issue and proposed LRT to complement it, but as usual our Govt. are short sighted.
