BY TOH KAR INN
LBS managing director Tan Sri Lim Hock San is confident that the group will be able to meet its full year sales target of RM1.2bil.
KUALA LUMPUR: Property company LBS Bina Group Bhd reported total sales of RM873mil as of Sept 13, 2016.
LBS managing director Tan Sri Lim Hock San is confident that the group will be able to meet its full year sales target of RM1.2bil.
The group's unbilled sales as of August 31 amounted to RM1.386bil.
Commenting on the moneylending developer plan, Lim said that it was a good measure for developers, but an oversold one.
He explained that most property developers have already been doing so, but on a small scale.
"We provide loans on a case to case basis.
"For example, if the buyer's loan application has been rejected by the bank and we know the buyer well, we will consider providing loans to the buyer.
"However, we are not competing with the banks.
"The main business of a property developer should be to develop property and not focus on moneylending," he said after a media briefing on the group's development.
