In September 14th, 2016, The Edge reported LBS Bina Berhad teaming up with the Selangor state government in a RM3.43 township development in Ijok, Kuala Selangor. It involves 10 parcels of 99-years leasehold land collectively the size of slightly more than 900 acres of land. One can read the detail below:
The state government issued a communique:
LBS have been bullish and promoting their stocks in the media of their development near Eco World's version of British Graham garden. Since launching their 470-acre Alam Perdana township in Puncak Alam in November 2017, Brokers are promoting LBS Bina as a buy. The Board of Directors and Shareholders are excited with this progress.
It is known within limited circle that Lim Guan Eng has interest in the company through a proxy in exchange for favours or as some called it abuse of power or corruption in the past. The Tropicana land deal involving Canal City or now known as Tropicana Aman in Kota Kemuning Shah Alam in 2014 is widely believed to be linked to both PKR and DAP political funding. Read previous posting here.
With Guan Eng believed to have interest in LBS and himself is embroiled with a court trial for his Jalan Pinhorn Penang bungalow and potential to be charged wrongdoings involving the tunnel project, will his bad luck stretch to LBS Bina?
LBCN Development and Mujur Zaman together with Eco World is under investigation or the watchful eyes of MACC. LBS Bina would also be on their suspect list for the same theme of deals. Not a bad idea to short LBS when everyone is bullish. Waiting for SC to put the mechanism in place.
The settlers farmer of PKPS is the only interested party in Ijok that has not got something out of it. Apparently payment were made but the vendor of land could still not be able to land his hands on it. Wait for more to come soon at the theater near you.