MGB BHD, a subsidiary of LBS Bina Group Bhd which is involved in construction and property development, has re-designated Tan Sri Lim Hock San as its executive vice chairman while subsequently appointed Datuk Wira Lim Hock Guan to succeed him as the group managing director.
Both appointments will come into effect on Aug 1. Prior to the re-designation exercise, Hock Guan, 59, was MGB’s executive director.
For the record, Hock San, 63, had on March 1 been re-designated as the group’s executive chairman of LBS Bina (from his managing director capacity) to succeed Datuk Seri Lim Bock Seng (his late father). Stepping in to fill his managing director’s position is also Hock Guan.
“The re-designations are in line with MGB’s strategic plans,” commented Hock San. “It was a privilege to have served as the group managing director. Nevertheless, I have full confidence that Hock Guan will be able to provide strong leadership and guidance to MGB amid the current pandemic.”
Along with the current management team which has a wealth of experience and talent, Hock San is confident that Hock Guan will be able to spearhead MGB into its next phase of growth.
Hock San was appointed to the board of MGB as a non-independent director and subsequently re-designated as the group managing director on July 5, 2016.
He has helped to spearhead LBS into a household brand name in the realm of affordable housing as well as venturing into the insurance and tourism businesses.
Meanwhile, Hock Guan was appointed as the executive director of MGB on July 5, 2016. He holds a degree in Civil Engineering from the Tennessee Technology University, US.
With over 30 years of extensive experience in the field of property development and construction, Hock Guan has been one of the major driving forces behind LBS’s successful implementation of projects in the Klang Valley.
Established in 2007, MGB has successfully completed more than 16,000 units of properties, particularly in the affordable homes segment. In addition, MGB has also completed more than 3,900 homes using its industrialised building system (IBS) precast technology.
At the close of today’s trading, MGB was up 1 sen or 1.2% to 84 sen with 59,400 shares traded, thus valuing the company at RM421 mil. – July 30, 2021