PETALING JAYA: LBS Bina Group Bhd has entered into a heads of agreement (HoA) with Ancom Bhd, Ancom’s 50.13%-owned subsidiary Nylex (M) Bhd, Sinar Bina Infra Sdn Bhd and BTS Group Holdings pcl to participate in the collaboration to build and operate a light rail transport system.

       This will be connected with the railway shuttle link that is currently being built from Singapore to Johor Bharu, with an integrated property development based on the transit-oriented development concept in the Johor Bharu metropolitan region.

       LBS said in a filing with Bursa Malaysia that the project is subject to a feasibility study, the grant of the LRT project concessions by the state government of Johor and the signing of definitive agreements.

       “This potential collaboration provides us with an opportunity to monetise our lands in Johor and expand our property development and construction expertise beyond our usual housing projects.

       “We expect to generate infrastructure construction income and steady recurring income from this project.

       “The Johor Bahru metropolitan region is up and coming, connectivity is crucial for its growth. Our land is strategically located,