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THIS WEEK AUCTION ENTRY - 447
RM
  • No. 20, Jalan Sari 8, Taman Ge...
    140,000
  • Lot 748, PM 140, Near Taman Te...
    900,000
  • Unit No. A3-18-3A, St Mary Res...
    1,150,000
  • No. 25, Lintasan Pegoh 2, Band...
    400,000
  • Lot 5349, Jalan Panchor, Taman...
    232,000
  • No. 33-2, 33, Parkview Service...
    486,000
  • Unit No. M-03, Residensi Jalil...
    1,170,000
  • No. 1530, Jalan Politeknik 29,...
    210,000
  • No. 1-4-04, 3rd Floor, Gold Co...
    131,220
  • No. 21, Jalan Pelangi 14, Tama...
    250,000
  • No. 45, Jalan Setia Wawasan U1...
    900,000
  • Unit No. A-10-9, 10th Floor, B...
    360,000
  • No. 35, Jalan Tun H S Lee
    3,000,000
  • No. 652, Laluan Kledang 5/8, T...
    100,000
  • No. 45, Jalan SM 5A/7, Bandar ...
    189,000
  • No. 1182, Jalan Lavendar Heigh...
    526,500
  • Unit No. 67-3, Block 67, Aras ...
    260,000
  • Unit No. 19-1A, Jalan Bandar D...
    256,000
  • No. 4, Jalan Desa Gombak 2, De...
    612,000
  • No. 4, Jalan Desa Gombak 2, De...
    612,000
  • No. 114, Perindustrian Lukut I...
    234,000
  • Unit No. 16-06, Block A, Pangs...
    308,000
  • #07-08, Blok A, Bayu Puteri 2,...
    235,000
  • Lot 7553, PM 1259, Teloi Kanan
    100,000
  • No. 264, Jalan Kebun Sultan, S...
    649,200
  • PT 262, Mukim Pulai Condong
    70,000
  • No. 41, Lorong Emas, Off Jala...
    350,000
  • 2329, Jalan SJ 2/2B, Taman Ser...
    180,000
  • No. 25-03-01, 4, Blok B2, Loro...
    160,000
  • B2-3-11, 4, Blok B, Residensi ...
    500,000
THIS MONTH AUCTION ENTRY - 2,991
RM
  • No. 7, Jalan Semenyih Mewah 7,...
    475,000
  • No. 3, Jalan Limau Bali, Taman...
    1,000,000
  • No. 133, Jalan Kolam Air Lama,...
    1,000,000
  • No. 14, Jalan Jiran 6, Happy G...
    1,000,000
  • No. 112, Jalan Springhill 9/1,...
    210,000
  • No. 101, Jalan Saujana Indah 2...
    470,000
  • No. 20, Jalan Sari 8, Taman Ge...
    140,000
  • No. 5, Jalan Jinjang Aman 16, ...
    972,000
  • No. 7, Jalan Jinjang Aman 16, ...
    1,053,000
  • No. 3, Jalan Jinjang Aman 16, ...
    1,053,000
  • No. 44, Jalan PR 2/3, Taman Pe...
    931,500
  • No. 812, Lorong Harmoni 2, Ban...
    270,000
  • 37, Jalan BK 4/1K, Bnadar Kinr...
    330,000
  • No. R22, Jalan Kelubi, Taman K...
    200,000
  • No. 105, Jalan Utama 70, Taman...
    260,000
  • No. 2, Jalan Amanah 3/12, Tama...
    400,000
  • Lot Nos 1683, PTD 421A dan PTD...
    237,070,800
  • Lot 748, PM 140, Near Taman Te...
    900,000
  • Unit No. A3-18-3A, St Mary Res...
    1,150,000
  • No. 20, Persiaran Murni 7, Tam...
    144,000
  • No. 25, Lintasan Pegoh 2, Band...
    400,000
  • No. 23, Jalan Teruntong, Bukit...
    10,826,100
  • Lot 5349, Jalan Panchor, Taman...
    232,000
  • No. 33-2, 33, Parkview Service...
    486,000
  • No. 371, Jalan Jasper Jaya 11,...
    250,000
  • No. 176, Jalan Rasa Sayang 6, ...
    120,000
  • No. 5582, Jalan Pinggiran Feld...
    108,000
  • No. 116, Persiaran Venice Sute...
    350,000
  • No. 548, Laluan Kledang 5/5, T...
    110,000
  • No. 18 (PT 5316), Jalan U19/11...
    416,000
HOT AUCTION HIGHLIGHTS - 1
RM
  • No. 1, Jalan Peguam U1/25, Sek...
    15,200,000
PROPERTY FOR SALE - 42
RM380,000
Condominium
Tenure
: Leasehold
Property Size
: 1,006 sq. ft.
Location
: Puchong
PROPERTY TO RENT - 17
RM1,650
Apartment
Tenure
: Leasehold
Property Size
: 771 sq. ft.
Location
: Shah Alam
NEWS

LBS Bina expects sales cancellation rate of 30% this year

Date: 13/05/2016

KUALA LUMPUR (May 4): Property developer LBS Bina Group Bhd expects 30% of its overall project sales to be cancelled this year — the same ratio it saw last year — due mostly to buyers failing to obtain loans following cooling measures for the property market that were introduced by the central bank.

“We used to have [a] 15% to 20% [cancellation rate]. Last year, it was 30%; I think this year will continue to be about 30%,” LBS Bina managing director Tan Sri Lim Hock San (pictured) told reporters after launching the first phase of the largest integrated development in Brinchang, Cameron Highlands — the Cameron Centrum Precinct 1 — yesterday.

“Last year, we were supposed to sell RM1.5 billion [worth of properties], [but we saw a] cancellation of about RM500 million, which was about 30%,” he explained.

LBS Bina achieved total sales of RM1.029 billion last year, up 60% from 2014. This year, it is looking to launch RM1.95 billion worth of properties, a mix of high-rise and landed residential and commercial developments, mainly in its township, Bandar Saujana Putra, and the Klang Valley.

The group’s unbilled sales currently stand at RM1.16 billion, while its land bank stands at 2,530 acres (1,024ha). Year to date, the group’s total sales stand at RM270 million.

“Unless Bank Negara [Malaysia] revises the lending guidelines, the situation should remain the same,” Lim noted.

He pointed out that the property market is not as bad, but not so vibrant like it used to be. Still, LBS Bina is confident of remaining on track to achieve its next target of a 20% increment in total sales this year of RM1.2 billion, he added.

This is because the company intends to focus more on the affordable range of between RM400,000 and RM500,000, and properties in the affordable range are still selling, said Lim. High-end properties, on the other hand, have been “greatly affected”, he said.

“It depends on [the] products and location,” he added.

Meanwhile, its newly launched Cameron Centrum Precinct 1 is the first phase of its RM2 billion development in Brinchang. The project comprises 58 commercial units with an estimated gross development value of RM183 million.

Lim expects the commercial units to be sold out within the year, and start contributing to the group next year.

Shares in LBS Bina closed unchanged at RM1.59 yesterday, valuing the group at RM892.22 million.

 

This article first appeared in The Edge Financial Daily, on May 4, 2016.


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