LBS 2QR is out. As expected, the overall performance is not that great. It has become of a concern to see the revenue gradually reducing over the past few Quarters, as well as the gradual decline in Unbilled Sales. This is an indication of growth slowdown in the Company.

We are witnessing the adverse effect of delayed project launches from previous years and MOUs that failed to materialize. While it is good news to see LBS Group go beyond its internal projects by winning external projects from Kwasa Damansara & CI Medini, but unfortunately we won't be seeing any positive results from these awards anytime soon for at least another 3 - 4 Quarters.

It is imperative LBS Group need to secure the MOU with Oriental Holdings to further strengthen its future prospects, as the Melaka M-WEZ territory is rather disappointing with so many setbacks for so many years that has little to no progress on the land reclamation and development of M-WEZ.

Overall while the Company is still a well managed Company with healthy landbanks and profitable operations, but it is starting to show some concerning signs with the gradual decline in Revenue, Unbilled Sales, Cash Flow & the Constant Delay Project Launches.

Investors are in for a tough ride ahead, if the Company is not able to speed up its internal project launches as well as secure more external projects.

I see that Tan Sri Lim is actively promoting good relations with China counterpart. I hope it will be beneficial to the Company is some ways in the foreseeable future.

MGB result just came out, so LBS should be out soon as well. Don't put too high hope on 2nd QR result. The project delays from last year as well as a few MOUs that cannot materialize causes domino affect on subsequent QR earnings within LBS Group. Don't think we will see uptrend in revenue until 3rd or 4th QR.

While MGB 2nd QR is profitable but revenue has been on a downtrend for the past few Quarters. I'd expect the same as well for LBS.

The recent external awards from Kwasa Damansara for LBS & CI Medini for MGB, is a welcome addition into the Group's portfolio. I'd hope the Group gets more external awards instead of relying mostly from own development, as it can be evidently seen own development has setbacks from approval delays.