KUALA LUMPUR, March 1 — LBS Bina Group Bhd today announced that Datuk Seri Lim Bock Seng will retire as non-independent non-executive chairman and the group has appointed Tan Sri Lim Hock San to succeed him as executive chairman.

LBS Bina has also announced that the board of directors unanimously elected Datuk Lim Hock Guan as the new managing director (MD) effective March 1.

"Lim Bock Seng has served as chairman of LBS Bina since December 6, 2001. He has been involved with the company for over 40 years prior to this where the business initially revolved around the transportation activities, primarily supplying and transporting building materials like sand and aggregates for construction and infrastructure works before venturing into the construction sector itself,” LBS Bina said in a statement.

"Together, we have been through the numerous peaks and troughs of the business cycles, particularly the Asian financial crisis, just before we were listed. Upon my retirement, I strongly believe LBS will be in good hands,” Lim commented. — Bernama