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No doubt, LBS has potential but they need to find, diversify and strengthen other sources of recurring income, other than Property Development & Construction. At this point in time, LBS rely too heavily on this two segments for income. The main issue with these two segments are the high risk of exposure to weak property demand, macroeconomic policy changes, delay project launches...
Unlike LBS, KSL on the other hand has strong other sources of recurring income, and at the same time, they have plenty of land in Johor bought at very cheap price, hence it gives them better net profit margin & competitive advantage.
