2022-06-17

Lim: MGB is well-positioned to generate consistent revenue in the coming years

Lim: MGB is well-positioned to generate consistent revenue in the coming years



MGB Bhd is in a good shape to deliver consistent revenue over the next few years, according to its executive vice chairman Tan Sri Lim Hock San.

"2022 has been a tumultuous year with geopolitical issues and inflation the common enemy for construction companies. Nevertheless, we will push on strong and continue to deliver our projects," he said.

Since its inception, MGB, a subsidiary of LBS Bina Group Bhd, has constructed over 19,000 units of property, primarily in the affordable housing segment.

In addition, the company has completed over 5,000 homes using its in-house Industrialised Building System (IBS).

According to Lim, MGB's construction order book stands at a healthy RM1.64 billion as of May 31, 2022.

Its property development segment has an estimated gross development value of RM2.15 billion, Lim said following the company's annual general meeting (AGM) today.

MGB shareholders approved the payment of a single-tier final dividend of 0.493 sen per ordinary share for the financial year ended December 31, 2021

The dividend amounting to RM2.92 million will be paid to shareholders on July 20, 2022.

Furthermore, MGB was granted permission to repurchase up to 10 per cent of the company's existing total number of issued shares.

"We are delighted to have received the support of our shareholders and achieved a positive outcome at our 20th AGM," Lim said.



Source: NST.com.my

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