PETALING JAYA (Apr 3): LBS Bina Group Bhd plans to transform its Zhuhai International Circuit (ZIC) in China into a tourist spot.
LBS (fundamental: 1; valuation: 1.8) managing director Datuk Seri Lim Hock San said the property developer was planning to redesign the 99.55ha (246 acres) ZIC into a tourist attraction which would include a commercial component.
"We are not disposing the circuit at the moment and we are going to develop ZIC ourselves unless someone offers us a 'very good' price that we can't resist.
"The company is in the midst of getting the approval from the authorities in China. Hopefully we can get the approval at the end of this year and start the transformation plan next year," Lim said at a media briefing here today.
He said the transformation plan of ZIC was still at a preliminary stage.
At 5pm, LBS shares closed flat at RM1.50 for a market capitalisation of RM795.1 million.
A total of 393,100 shares were traded.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)