JUN 2010
IN THE KNOW A Colliers International Singapore Internal Newsletter
MESSAGE FROM THE MANAGING DIRECTOR
INSIDE THIS ISSUE
From Knowledge to Accelerating Success Colliers International is a dynamic company. We have successfully positioned ourselves as a knowledge leader in the last six years and ‘knowledge’ has been the key fundament in differentiating Colliers from competitors. Many clients have leveraged our knowledge to achieve success in their business. However, in this competitive business environment, it takes more than just the delivery of real estate services to our clients. We want to go a step further to help our clients accelerate their success. The integration of our operations worldwide to become a single structure and brand name has allowed us to do just that. We are now the third largest real estate service provider in the world and are operating on an improved platform. With the integration, we now have the capability to provide a comprehensive range of real estate services to our clients and service their real estate needs seamlessly across regions and countries, thus accelerating their success. This would also result to more client referrals coming our way in the near future. There have been numerous examples in Asia and other regions where our colleagues have helped to accelerate clients’ success. Locally, Singapore office has also achieved many successes for our clients. For example, the launch of Parkway Novena Specialist Centre – marketed by the Auction and Sales team – was a tremendous success. All 100 units of medical suite that were released for Phase One sale were snapped up within two weeks of the launch. Our knowledge of the market, coupled with unique marketing strategies, has helped our clients to succeed and meet their objectives.
The successful sale of six logistic buildings to Cache Logistics Trust is another feather in the cap for us. Rimon Ambarchi from Asia Industrial Services has created a niche for himself in the logistics and warehouse sector. With his in-depth knowledge of the sector, he has provided valuable advice to the client, CWT – proposing a sale and leaseback arrangement for six logistics properties owned by the client to Cache Logistics Trust for inclusion in its portfolio. It was a win-win situation for the client as he has managed to take the properties off his balance sheet to achieve better economic value added (EVA) and yet, be able to continue running his business operations from the same premises. Accelerating success is not a one-way process. While the firm adopts an enterprising culture to help you accelerate your success, the management would also need your constant feedback on what our Company could do better to improve our business. All of you play an important role in this organization and I hope that you will make a conscientious effort to accelerate the success of everyone you come in contact with and create a memorable experience for your clients. By successfully helping our clients to accelerate their success, you too would have accelerated your success.<
CIAP Awards of Excellence at Bali on p6
Colliers Networking Cocktail Function on p5 KNOWLEDGE CAPITAL Colliers Goes Green . . . . . . Department Updates . . . . . . Excerpt from the Expert . . . Inspirational Quote . . . . . . . Brain Teasers . . . . . . . . . . . . .
02 10 16 18 18
BRAND CAPITAL Colliers in the Limelight . . . . 04 RELATIONSHIP CAPITAL Colliers Events/Happenings . 05 Colliers Lifeblood . . . . . . . . . 08 HUMAN CAPITAL Colliers Behind The Scene . . 14 Staff Feature . . . . . . . . . . . . . 15
Dennis Yeo Managing Director Colliers International Singapore and Asia Industrial Services
COLLIERS GOES GREEN KNOWLEDGE CAPITAL
Colliers Singapore Pledges its Suppor t to Ear th Hour 2010 Once again, Singapore office has participated and showed our support for Earth Hour 2010 by running an internal campaign to remind all staff to switch off lights on 27 March 2010. Apart from converting one of the notice boards in the office for the countdown, posters were also put up around the office premises. A package containing a customized box of matchsticks and tea-light was placed on the workstation of each staff to mark the launch of the campaign. The effort was not restricted to internal staff. Clients were also encouraged to join Colliers by taking part in this meaningful event. An e-flyer was developed for staff to send out to their clients and posters were also put up at some 65 properties managed by Colliers. Developments that have participated by switching off their non-essential lights on the actual day included Changi Business Park 3, Park Infinia at Wee Nam and StarHub Green, among others. This is the second year that Colliers Singapore has participated in Earth Hour, demonstrating our commitment to be an environmental-conscious company. Organized by the World Wide Fund for Nature, Earth Hour 2010 – which fell on 27 March from 8.30 pm to 9.30 pm – was the largest since 2007, when the awareness campaign first took place in Sydney. A record 128 countries joined the global display of raising awareness towards the need to take action on climate change.<
Tweak Your Habit. And Save Mother Ear th. We are through with giving you facts and figures that most of you might not even remember.
So, make an effort to replace the flush with recycled water, such as water from your laundry.
In this issue, we have decided to take a more light-hearted approach in providing you with suggestions on what you can tweak in your daily habits to help save Mother Earth.
Or pee in the shower. Yes, literally. No one is watching you anyway.
u Pee in the shower. 19 liters of water go down the chute every time you flush the toilet. For a more efficient toilet, it is about six liters, which – to put it in perspective – is the amount of blood in our human body.
2
IN THE KNOW
u Size matters. Squeeze only a “pea-sized” blob of shampoo and conditioner instead of covering your entire palm with them. Less chemicals washed down the drain means less pollution and less energy in purifying and cleaning the water.
www.colliers.com/singapore
Our Knowledge is your Property®
Wine from France will incur a higher carbon toll than wine from Australia because of the journey travelled. You may then want to consider our locally-brewed Tiger Beer, and reduce carbon emissions by 16 per cent or more for the day. Cheers! u It pays to be lazy. Invest in a dishwasher. This saves up to 40 per cent more water than washing the dishes by hand. Ah… did we just hear some ladies heaving sighs of relief and are grinning away? u Bottoms up with Tiger! Fancy some beer or wine to go with your dinner after a hard day’s work? The closer your food and drinks are to home, the more environmental-friendly it will be.
u Stop mail “bribery” Although unsolicited junk mails are kept out by locked mail boxes, SingPost has an Admail service that allows advertisers to distribute fliers through bulk delivery. Call 6845 6210 to opt out of receiving unaddressed promotional mail. It is another way to save more paper. You seldom read such mails anyway.< Reference: “16 ways to cut 16 per cent” by Rachel Chang, The Straits Times, 16 January 2010
Hear from some of our colleagues on what are their ‘go green’ efforts to live green and save Mother Earth! “I have inculcated a habit in everyone to always switch off all the fans and lights when they leave the room. If we really need to switch on the air-conditioners, we can only do so after 10 pm at night. We also recycle newspapers, plastic containers and metal cans.” Grace Ng Deputy Managing Director, Agency and Business Services
“My house recently underwent renovations, and I ensure the house is designed in such a way that it enjoys as much natural lighting as possible in the day. We also opt to use all energy-saving lights in the house.”
“I switch on both the air-conditioner and fan at the same time, when I am preparing to go to bed. The airconditioner will be set at 25 degree celsius, on a timer for two to three hours to bring the room’s temperature down; after which, the fan will help to maintain the room’s coolness. On weekends, I cycle to swim or play soccer with my friends, instead of taking the car.” Mark Yeo Property Manager, Asset Management
Calvin Yeo Executive Director, Commercial
“I recycle the water that is used to wash rice to water my plants. That’s saving water and also additional nutrients for my plants!” Irene Phua Manager, Human Resources
3
IN THE KNOW
www.colliers.com/singapore
Our Knowledge is your Property®
COLLIERS IN THE LIMELIGHT BRAND CAPITAL
The Publicity Race (1Q 2010) A round of applause for all Colliers’ newsmakers! Because of their efforts, we are ranked second in the publicity race in 1Q 2010!
153
160 140 117 120
95 100 72
80
Results are compiled based on the number of times Colliers and our competitors are mentioned in the media* from January to March this year.
63
61 54
60
52
40 20 0 Colliers International
CB Richard Ellis
Chesterton International
Cushman & Wakefield
DTZ
Jones Lang LaSalle
Knight Frank
Savills
KNOWLEDGE CAPITAL * Media tracked included mainstream papers including The Business Times, The Straits Times, 联合早报，The Edge, freesheets including TODAY and My Paper, broadcast media, as well as trade media and wire agencies.
Top Three Newsmakers for 1Q 2010 2nd
Tan Boon Leong (Industrial)
1st
Ho Eng Joo (Investment Sales)
Dennis Yeo (Firm Management)
4
IN THE KNOW
www.colliers.com/singapore
3rd
Grace Ng (Auction and Sales)
Our Knowledge is your Property®
COLLIERS EVENTS/HAPPENINGS RELATIONSHIP CAPITAL
CoreNet Global Summit Singapore 2010 More than 60 guests attended a cocktail function hosted by Colliers Singapore and Corporate Services on 23 March 2010 at The Shangri-La Hotel. The function was held in conjunction with the CoreNet Global Summit which took place from 23-25 March 2010. Colliers was the Platinum sponsor for the Summit. George McKay, Managing Director of Corporate Services, also acted as the moderator for one of the breakout sessions themed “Landlords and Tenants: The Fight Club?”.<
Market Presentation by Colliers International Colliers International was invited by DBS to speak at its “DBS Personal Wealth Series Seminar” on 10 April 2010 at The Swissotel. Goh Seow Leng, Senior Director of Valuation, gave a presentation on the residential property market titled “Making Sense of the Property Market”. The event was well attended by some 500 attendees comprising both customers of DBS and the public.<
Colliers Networking Cocktail Function – One World, One Goal with One Colliers. In conjunction with the Real Estate Investment World Asia 2010, Colliers Singapore hosted a cocktail function on 23 June 2010 for close to 100 clients and delegates at the Equinox Private Dining located on level 69 of Swissotel The Stamford. The event was well attended by REIT/fund managers, investment bankers, building owners and MNC clients. Our investment colleagues from the Australia, Shanghai, Indonesia, Japan and Hong Kong offices were also present to make contact and network with the clients. The theme for this year’s function is “One World, One Goal with One Colliers”, which ties in with the ongoing World Cup event as well as the recent evolution of our business into one united company. Guests were treated to a host of football-themed entertainment, which include a Xbox 2010 FIFA World Cup South Africa game competition and instant photo shots with models donned in football jerseys. The evening ended on a high note with the live screening of the world cup match between England and Slovenia. All guests were also given a mini country soccer ball as a memento.<
5
IN THE KNOW
www.colliers.com/singapore
Our Knowledge is your Property®
CIAP Awards of Excellence at Bali The winners of CIAP Asia Awards of Excellence 2008 and 2009 attended the award ceremony at Bali, which was held from 22-25 April 2010. A total of 100 Colliers staff, including the award winners and their partners, as well as senior management, attended the event. Award recipients from our office included Ashley Swan (Commercial), Brenda Ong (Industrial), Calvin Yeo (Commercial), Cassandra Tan (Valuation), Clement Ramakrishnan (Asset Management), Dennis Yeo (Firm Management), Doreen Aw (Valuation), Kelvin Ng (Valuation), Lim Poh Gheok (Investment Sales), Marcus Loo (Commercial), Mark Lampard (Corporate Services), Ng Ee Kiat (Investment Sales), Rimon Ambarchi (Asia Industrial Services), Selina Chia (Valuation) and Tan Kok Heng (Asset Management). Highlights of the trip included a welcome cocktail session for all attendees at the Presidential Suite and a spectacular fire dance at the Awards Dinner.<
6
IN THE KNOW
www.colliers.com/singapore
Our Knowledge is your Property速
Colliers APAC Academy Base Camp Some 55 Colliers staff from 12 different countries attended the Colliers APAC Academy Base Camp from 2-5 May 2010 at the Macquarie Graduate School of Management at Sydney, Australia. The Academy Base Camp demonstrates Colliers International’s commitment to accelerate employees’ success through training and continual learning. It also serves to bring together staff from offices across the region, forging strong bonds and relationships. The participants were put through some intensive and comprehensive training sessions conducted by worldclass coaches from Australasia and Canada, including Gerald Clerx, Peter Nankervis and Julie Ryan, among others. Two of our colleagues were at the Base Camp. Let us hear what Cassandra Tan, Senior Manager, Valuation and Tan Lihui, Senior Executive, Auction, have to say about the Camp. 1) What about the training that you like and what have you learnt from the event? Cassandra (C): I particularly liked the session on learning more about ourselves through the “DISC” personality analysis, as well as the techniques on how to identify our clients’ and prospects’ profiles to enable us to strategically tailor-make a presentation to engage them. Lihui (L): I enjoyed the group discussions, in which I could interact with colleagues from different countries, and learn more about their markets and working styles. Many of us seldom have the chance to meet our overseas colleagues face-to-face.
7
IN THE KNOW
I’m glad to have this opportunity. 2) Which session did you find the most beneficial to you? C: The session which we have to identify and match Colliers services with our clients’ needs. We learnt to package our services in such a way that they meet our clients’ or prospects’ needs. Also, the activities that promote team building are quite beneficial, as they helped to foster closer work relationship with one another, which makes future cross referral much easier. L: It would be the session on presentation and questioning techniques. I felt that the session on presentation is the best, compared to the other presentation courses I have attended. Also, I have learnt that it is not about asking your clients and prospects questions. It is about asking the correct question, which will lead people to give you the answers that you want. That itself is an acquired skill. 3) In general, what have you learnt from the four-day camp? What did you take with you from the camp? It can be in either professional or personal aspect. C: I’ve learnt about “KNOW” – about our company; “ASK” – our clients another question to determine if there is any other missed opportunity; “INFORM” – our clients about our track records and expertise; “REFER” – cross referral among departments and across offices; “TEAM UP” – with other colleagues to achieve the best outcome; “WIN” – our clients’ appreciation and confidence for further business; and
www.colliers.com/singapore
finally “EARN” – additional fees by sharing client relationship. Through this, we achieve a win-win situation, in which everyone in the Colliers family can benefit and bring our company to greater heights. L: Unity in diversity. We all come from different countries, different offices and diverse backgrounds. But by working as a team and leveraging one another’s strengths, we can overcome any obstacle. 4) Anything else you would like to add? C: I thoroughly enjoyed the camp. It is a course that allows you to build friendship with other Colliers colleagues and we are like one big family. The trainers were great and enthusiastic in imparting and sharing their knowledge with us. L: I would like to share a lesson I learnt on the last day. On that day, all the groups were supposed to make a presentation to the panel of judges. My group was the last to present. The judges were tired by then and had hinted to us several times to get straight to the point in presenting our unique selling proposition – all of which actually tested us on observing clients’/prospects’ body language, and requiring quick thinking on the feet and changing the strategy of our presentation. However, we ignored the hints, and went ahead to present what we have planned. That was indeed a major lesson learnt!<
Our Knowledge is your Property®
COLLIERS LIFEBLOOD RELATIONSHIP CAPITAL
In this issue, we turn our attention to the four major banks in Singapore – namely, DBS Group Holdings, OCBC Group, Standard Chartered Bank and United Overseas Bank Limited – which are among our 14 top clients under the Colliers Singapore Client Relationship Management (CRM) program. The Banks work closely with the Auction and Sales, and Valuation divisions, generating a total combined revenue of S$2.255 million in Year 2009. While Auction and Sales assists the Banks in their asset disposal, services provided by Valuation include mortgage valuation, valuation for the bank’s assets for divestment/acquisition purposes, valuation for IPOs/securitization/merger and acquisition, as well as property tax consultancy, among others. Going forward, Colliers will continue to work closely with the banks, and nurture and sustain a mutually-beneficial work relationship. DBS was the first to launch Singapore’s first real estate investment trust (REIT) in 2002 and is instrumental in meeting the growing demand of such funds in the region. It is also a well-regarded custodian for institutional investors and provider of wealth management products for individuals.
Relationship Managers:
Grace Ng and Goh Seow Leng Overview DBS Group Holdings (DBS) is established in 1968 and is one of the largest financial services groups in Asia today. Headquartered in Singapore, DBS has operations in 16 markets, with primary operations in Singapore and Hong Kong. It has a regional network spanning more than 200 branches and over 1,000 ATMs across 50 cities. Overview Established in 1912, OCBC Group is the second largest financial services group in Southeast Asia, classified by assets. Its key markets are Singapore, Malaysia, Indonesia and Greater China, with a network of more than 500 branches and representative offices in 15 countries and territories. OCBC Bank is among the world’s highest rated banks, with a long term credit rating of Aa1 from Moody’s Investors Service. (continued on next page)
8
IN THE KNOW
Relationship with Colliers DBS is Colliers’ valued client, generating a total revenue of some S$757,000 in 2009. This was a 6.5 per cent increase from S$710,000 in 2008. In fact, DBS ranks second out of the top five bank clients for the Valuation division. Meanwhile, Colliers assists DBS in its asset disposal, some of which include: u A seven-storey commercial building at 75 High Street – sold for S$23.5 million. This was done together with Investment Sales. u A purpose-built JTC factory comprising two two-storey blocks with office annex and a single-storey factory with mezzanine office at 29/31 Gul Avenue – sold for S$4.2 million. u A single-storey bungalow at 20 Bright Hill Crescent – sold for S$4.1 million. u A part-one/part-three-storey factory at 16 Neythal Road – sold for S$2.75 million. u A two-storey detached house at 84 Shrewsbury Road – sold for S$2.7 million.
Ascendas Real Estate Investment Trust | A-REIT Relationship Managers:
Grace Ng and Ho Eng Joo www.colliers.com/singapore
Our Knowledge is your Property®
Relationship with Colliers Total revenue achieved in 2009 was some S$227,774, with 63 per cent generated by Valuation and 37 per cent by Auction.
u u u
Colliers has assisted OCBC in disposing: u A single-storey detached house at 1 Toh Crescent – sold for S$2.9 million.
u
A two-storey strata bungalow with an attic at 243 Punggol 17th Avenue – sold for S$1.6 million. A three-storey detached house at 5B Lim Tua Tow Road – sold for S$2.16 million. A corner three-storey strata terrace factory with a lift at Ubi Techpark – sold for S$1.78 million. A two-bedroom apartment at Aquarius by the Park – sold for S$580,000. and the Middle East. The organization is listed on both the London Stock Exchange and the Hong Kong Stock Exchange, and ranks among the top 25 companies by market capitalization in the FTSE-100. Relationship with Colliers A close work relationship between Colliers and SCB has been forged over the years, and the total fee generated in 2009 was some S$749,000, which is an encouraging 22.85 per cent jump from 2008.
Relationship Managers:
Grace Ng and Goh Seow Leng Overview The Standard Chartered Bank (SCB) is established in 1969 through a merger of two banks – The Standard Bank of British South Africa and The Chartered Bank of India, Australia and China. Since the early 1990’s, SCB has focused on developing its franchises in Asia, Africa
Colliers has assisted SCB in disposing: u A renovated three-storey townhouse at 37 Richards Avenue – sold for S$1.8 million. u A 3+1-bedroom apartment at The Horizon – sold for S$1.8 million. u A 4+1-bedroom apartment at Avila Gardens – sold for S$950,888.
Overview Founded in 1935, the United Overseas Bank Limited (UOB) has a well-established regional presence, particularly in China, Indonesia, Malaysia, Singapore and Thailand. Through a series of acquisitions, it is now one of the leading banks in Asia, and is rated among the world’s top banks by Moody’s Investors Service, receiving B for financial strength, and Aa1 and Prime-1 for long term and short term bank deposits, respectively. Relationship with Colliers Colliers enjoys the sweet fruit that it has sowed with UOB, with fees generated in 2009 standing at S$520,966. This was a whopping 142.31 per cent jump from the revenue achieved in 2008. Colliers has assisted UOB in disposing: u Two 3+1-bedroom apartments at Four Season Park – sold for S$4.8 million and S$4.84 million. u A two-storey detached house at 36 Woo Mon Chew Road – sold for S$2.95 million. u A three-bedroom apartment at Ocean Park – sold for S$1.65 million.
9
IN THE KNOW
Relationship Managers:
Grace Ng and Ho Eng Joo u u u
A 1½-storey semi-detached house at 48 Kasai Road – sold for S$1.56 million. A two-storey corner semi-detached house at 2 Pasir Ris Way – sold for S$2.3 million. A two-storey semi-detached house at 59 Jalan Sindor – sold for S$1.75 million.<
www.colliers.com/singapore
Our Knowledge is your Property®
DEPARTMENT UPDATES KNOWLEDGE CAPITAL
Asset Management
Auction and Sales
Properties of National Arts Council Re-appointed by the National Arts Council to manage and maintain its 42 Arts Housing properties islandwide. The total gross floor area under management is some 362,500 sq ft.
Parkway Holding’s Novena Medical Suites All 100 units of medical suite at the upcoming Parkway Novena Specialist Centre were snapped up within two weeks of the Phase One launch. The suites – ranging from 452 sq ft to 1,431 sq ft – were priced between S$3,588 per sq ft and S$3,828 per sq ft.
Riveria Gardens Appointed by I. Contemporary Pte Ltd as the managing agent for Riveria Gardens, a 49unit residential development at 8 River Valley Grove. The development comprises a 25-meter swimming pool, a wading pool and four private roof-top Jacuzzi. Each level also features an 800 sq ft landscape garden. <
Commercial Leasing
770A and 772A North Bridge Road Sold two adjoining units of a two-storey shophouse with attic (land area: approximately 2,539 sq ft) for S$3.44 million.
10
20 Anson Road Relocated Toyota Motors Asia Pacific to 20 Anson Road, occupying 38,363 sq ft of space.
TripleOne Somerset Relocated Petroleum GeoServices to TripleOne Somerset, occupying 21,291 sq ft of space.
Hong Leong Building Assisted Thome Shipping Management to renew its lease (27,166 sq ft) at Hong Leong Building.
Millenia Tower Assisted Commonwealth Bank of Australia to renew its lease (17,578 sq ft) at Millenia Tower.<
IN THE KNOW
www.colliers.com/singapore
78 Yio Chu Kang Road Sold a shop with basement (floor area: approximately 7,642 sq ft) for S$2.88 million. Taipei Trip (3-6 June 2010)
Our Knowledge is your Property®
Human Resources
Welcome on board! Above photo: from left to right u Cindy Choi, Accounts Executive (Asset Management) u Dawn Lee, Valuer (Valuation) u Cynthia See, Leasing Co-ordinator (Residential Leasing) u Eliza Lee, Research Analyst (Research and Advisory)
u u u u
Ng Jie Ru, Analyst (Commercial) Andy Ng, Accounts Manager (Asset Management) June Thng, Marketing Executive (Industrial) Cynthia Chew, Administrative Assistant (Research and Advisory)
t
Babies on board Kate Mackenzie Lampard and Samantha Ann Lampard, Twin daughters of Mark Lampard, Corporate Services Born on 1 May 2010
Above photo: from left to right u Kelly Yang, Executive Director (Project Management) u Michael Leong, Senior Project Manager (Project Management) Absent: u Shafiq Bin Zulazmi, Executive (Commercial) u Amy Teo, Administrative Assistant (Valuation) u Ong Eng Hin, Executive (Asset Management) t
Welcome back! Below photo: from left to right u Karen Tan, Accounts and Tenancy Executive (Asset Management) u Wilson Ang, Consultant (Asia Industrial Services)
t
11
IN THE KNOW
Ignatius Han, Son of Jaime Wee, Residential Leasing Born on 9 April 2010
Andry Aizary, Son of Tengku Alawiyah Binte Tengku Ibrahim, Asset Management Born on 22 April 2010
www.colliers.com/singapore
Our Knowledge is your Property速
Industrial
10 and 12 Ang Mo Kio Street 64 Sold a seven-storey/four-storey high-tech facility with an ancillary office (built-in area: 378,420 sq ft; land area: 258,069 sq ft) for S$25.188 million.
8 Changi North Street 1 Sold a four-storey light industrial building (built-in area: 45,560 sq ft; land area: 36,618 sq ft) at 8 Changi North Street 1 to Y K Toh Marketing (S) Pte Ltd for S$4.4 million. 9 Tagore Lane Sold a total of 64 strata units to various buyers, amounting to a total sale value of approximately S$72 million.
18 Gul Drive Leased 74,035 sq ft of space to VWR International Pte Ltd for a monthly rent of S$139,185.<
Marketing and Communications Colliers International Evolves to Become a More Unified Company Following the announcement of the acquisition of FirstService Real Estate Advisors, Colliers International is now operating under one branding umbrella, making us the third largest real estate service-provider worldwide. With an enhanced depth and scope of our services, clients will now experience a seamless service delivery from one organization, one name and one brand. The rebranding exercise in Asia Pacific is slated to take place in 3Q 2010.<
Project Management Colliers expands its service offerings to include Project Management A new addition to Colliers’ service offerings, Project Management provides consultancy services to both institutional owners and corporate clients – advising on workplace’s design concept and construction strategies. The team’s expertise ranges from advising, planning and building, to managing time, cost, quality and risks, to process compliance and finally move management.
12
IN THE KNOW
Working closely with the agency business lines and Asset Management, the team provides tailor-made solutions for each client, while optimizing the return on investment for the client’s respective real estate portfolio and facilities. With the addition of Project Management services, Colliers now offers our clients a complete, end-to-end solution to meet all their real estate needs.<
www.colliers.com/singapore
Our Knowledge is your Property®
Retail Cuffz Leased 1,022 sq ft of space at Orchard Central to Cuffz for a period of 3+3 years for a monthly rent of S$8,200. The Hour Glass Leased 1,486 sq ft of space at One Raffles Place to The Hour Glass for a period of 3+3 years for an average monthly rent of S$40,122.<
Valuation Bejing Trip (31 March to 4 April 2010)
Kudos! It is always gratifying to receive letters of appreciation from our clients, acknowledging our efforts and dedication to our job. So give yourself a pat on the back when you receive one! Jerry Lim, Property Officer at The Fernhill, a 25-unit residential development located at 1 Fernhill Road, was commended for his service excellence by one of the tenants. “Mr Jerry Lim has always been very prompt in responding to our several issues on maintenance, including blocked sewage, among others, since we moved into The Fernhill. He always takes time to listen and understand the problem, afterwhich, he ensures that it is attended to immediately. Even after the work has been completed, Jerry makes an effort to do follow up with us to ensure that we are happy with the outcome. He is indeed a great asset to your team and we appreciate his contribution to this development.”<
13
IN THE KNOW
www.colliers.com/singapore
Our Knowledge is your Property®
COLLIERS BEHIND THE SCENE HUMAN CAPITAL
The Finance Depar tment Responsible for monitoring the financial health of our company and keeping a tight rein on the purse string, our Finance department is a critical function in the company. Their day-to-day routine includes ensuring a healthy cash flow, tracking of sales and capita spending, as well as churning and analyzing profit-and-loss report to show the overall strengths and weaknesses of the business. In this issue, we bring you to behind the scene and hear from the Head of Department, Sabrine Tan, on what her team of four is busy with. Can you briefly describe the specific role of each team member? “The two people that many of you would frequently come into contact with are Margaret Chew and Priscilla Teow. Margaret is responsible for accounts payable, in which she has to make sure that all bills from our vendors and suppliers are paid on time, as any late payments would affect the company’s credibility. Meanwhile, what goes out must come in. So, Priscilla’s role is to ensure that all credit accounts are taken care of and that clients who are past due their bills are contacted and their balances paid.
Geok Sim acts as the “counter-check” to make sure the numbers and figures tally for all accounts, while I prepare the month-end reports and ensure that the HODs has the most current financial information to make the best decision for their business.”
And we are talking about thousands and millions of dollars passing through our hands each day. Hence, having a clear mind is critical!
How does a typical day start and end for your team?
This sounds like a pretty mundane and stressful job for all of you, isn’t it?
“It begins with a cup of coffee. We need lots of caffeine or any other mechanisms to keep us alert on our job. We deal with numbers and figures day in, day out, and it can be quite strenuous on both our eyes and minds.
Our day would usually end with an exhausted mind.”
“Yes, but anyone in Finance and Accounting would tell you that their job is such. It is the job nature and it is the same in any company. (continued on page 17 see “Behind The Scene”)
left to right: Sabrine Tan, Priscilla Teow, Goh Geok Sim and Margaret Chew
14
IN THE KNOW
www.colliers.com/singapore
Our Knowledge is your Property®
UP CLOSE & PERSONAL HUMAN CAPITAL
and cramped food stall to good class bungalows, to huge land parcels. For instance, it is not often that one gets to see and enter a luxurious property, unless you are of a certain social standing or you own one.” And what do you dislike most? “When my deals do not go through. Who wouldn’t? Especially after you had put in all the hard work, and could almost feel the money in your pocket; and just because of some factors which you have no control of, everything just goes down the drain. It can be quite disheartening at times.” On a more personal level, how would you describe yourself? “I warm up to people slowly. So for people whom I am not close to or do not know well, I appear to be a quiet and reserved person. I tend to keep many things to myself and do not tell others – including my family and close friends – about my problems. I do not wish to impose on anyone. I can be quite pessimistic and hot-tempered too. I have also learnt to be more thrifty ever since the passing on of my father in 1999. I always believe that one should only spend within one’s earning power, and of course, save for rainy days. Life can be quite unpredictable, so you really do not know when you need a huge amount of money for emergencies.”
Tan Lihui
If you were granted one special power, what would you wish for and why?
Auction and Sales
“The power to create miracles. Many of us have the tendency to want to live up to other people’s expectations of us – both at work and at home. That is why we always hear the phrase among coworkers and even our friends that ‘We are expected to perform miracles.’ So, it would be really good if I have such a power.”
Senior Marketing Executive Being the baby in a female-dominated team, one wonders if Lihui was often pampered and babied by his team of big sisters. He got to know the iron ladies – many whom he regards as his elder sisters or even “Mummy” today – from the Auction and Sales team during his internship at Jones Lang LaSalle. He then chose to join the team at Colliers International, right after his National Service. Why did you choose to enter this industry?
He has, by far, completed six marathons and four half-marathons. His favorite food is durians and chocolates, and he likes to read comics.
t
You must have enjoyed your work, since this was your first job since Year 2004. So, what do you like most about your job?
He is an ardent soccer fan and favors the Manchester United team. In fact, he has been their supporter since 1993.
t
And it happened that Colliers Auction was looking for an entrylevel staff. So I guess it was a right match at the right time.”
Other snippets of Lihui:
t
I had always wanted to join the army since young. Don’t ask me why, but the army just seems to be rather alluring to me – for some reasons. However, after serving my National Service, I decided that the regimental style in the army might also stifle me. Hence, I decided not to sign on after ORD (operationalready date).
t
“It was a case of available opportunities at that point in time.
He volunteers his time at a temple near his house at least twice a month, especially when there are special occasions or events.<
“The opportunity to visit all types of properties – from a small
15
IN THE KNOW
www.colliers.com/singapore
Our Knowledge is your Property®
EXCERPT FROM THE EXPERT KNOWLEDGE CAPITAL
You Drive Me Crazy!
For many of us, a big bulk of our time is spent interacting with our colleagues in the office. When there are interactions, there are bound to be conflicts. There will definitely be occasions when your co-workers unknowingly step on your toe or certain matters in the office get on your nerves – leaving you in a foul mood for the rest of the day. Such work place annoyances can easily wreck your focus, sap your productivity and perhaps, even leave you feeling momentarily murderous. According to a recent survey conducted by Opinium Research on 1,836 office workers in Britain, the number one work place annoyance is a grumpy or moody colleague. Slow computers came in second, followed by office small talk and gossip. Drawing a leaf from this survey, IN THE KNOW carried out a similar survey with some 50 colleagues to determine what are some of the work place annoyances that are apparent in our office.
16
IN THE KNOW
Top 10 Office Annoyances in Colliers Singapore #1. Colleagues who are unhelpful or play tai-ji e.g. “No, this has nothing to do with me. Why are you asking me?”; “I don’t know.”; “Is this my problem?” #2. Colleagues who adopt a snobbish/ poor work attitude e.g. “My work is more important than yours.” #3. Colleagues who have quirky work habits e.g. peeking/staring at your computer screen instead of their own; speaking or laughing loudly; typing on the keyboard too hard and too loudly
turning up late for meetings #6. Inefficient office equipment/ system e.g. jammed photocopier/printer; flickering lights; limp Internet server #7. Colleagues who practise poor personal hygiene e.g. poor toilet etiquette; clipping nails in office; digging nose; body odor; etc #8. Colleagues who have poor habitual behavior e.g. making a mess in communal spaces such as leaving used cups in meeting rooms; constantly borrowing others’ stationeries; helping themselves to items in the fridge which belong to others
#4. G r u m p y / t e m p e r a m e n t a l colleagues e.g. sudden outburst of emotions; showing you a look of disapproval or displeasure without telling you what you did wrong
#9. Colleagues ‘forgetful’ work habits e.g. ignoring emails; not returning phone calls
#5. Colleagues who have bad time management skills e.g. not meeting agreed deadlines;
Other mentioned work place annoyances include loud mobile ring
www.colliers.com/singapore
#10. Office grapevine e.g. gossips and rumours
(continued on page 17 see “You Drive Me Crazy!”)
Our Knowledge is your Property®
(continued from page 16 “Excerpt From The Expert”)
tones, and vacuuming and cleaning of our office premises during working hours. The sun glare coming through the windows is as frustrating as our ill colleagues who insist on coming in to office and spread the germs to their fellow colleagues. Do you identify with these work place annoyances?
(continued from page 17, Behind The Scene)
You Drive Me Crazy! Each of us is a unique individual and has our individual work habits, as well as a list of things that can easily rub us the wrong way and drive us up the wall. However, to maintain cordiality in the work place, we should learn to accommodate one another – leveraging one another’s strengths while working around the weaknesses.
Perhaps, as one of the respondents has aptly concluded, “Do unto others as you would have them do unto you” – which, to put it simply, means, “Behave toward others as you would like to have them behave toward you.”< References: “Work hazard: Mr Grumpy” by Marissa Lee, The Straits Times, 1 March 2010.
The Finance Depar tment
“Our day begins with a cup of coffee.”
17
Finance job is routine. You have systems, standard procedures and formats to follow. So, when one chose to work in Finance, he/she should know that it is a job that entails order and proper system.
the challenges?
But on a more positive note, because debit is debit and credit is credit, everything is black and white to us. We rarely have grey areas, which might cause possible conflicts.”
Despite the numerous reminders, there will always be a handful of people who would be late in their submission and they would come up with 101 reasons and excuses.
What does your team find the most challenging when carrying out your duties? And how do you work around
While we do our part to accommodate and fulfill all requests, what many people do not realize is that in finance and
IN THE KNOW
“The most challenging task is to get people to submit their invoices and expenditure claims on time.
www.colliers.com/singapore
accounting, all expenditures and income incurred in that month must be reported within the same month – so that, to put it simply, our balance sheet can be balanced. However, we understand that there are times when external factors could result in late submissions. Hence, we have given a one-to-two-month grace for submissions. And on a final note, we wish to remind everyone that you do not have to wait until the specific date to submit your invoices or expense claims. You can always do so before the stipulated date”.<
Our Knowledge is your Property®
DID YOU KNOW?
KNOWLEDGE CAPITAL On average, Colliers Singapore uses approximately 250 reams of 80-gsm copier paper per month. This is a whopping 125,000 pieces of paper used by some 140 staff, which works out to approximately 892 pieces of paper used per person per month. This translates to about 1.5 trees per month, based on the assumption that one pine tree makes some 80,000 sheets of copier paper.
With the cost of paper expected to increase from the current S$4.00 per ream to some S$4.50 per ream, let us aim to keep our paper usage down to one tree per month, while keeping our costs low.
INSPIRATIONAL QUOTE OF THE QUARTER
“Individual commitment to a group effort – that is what makes a team work, a company work, a society work, a civilization work.” - Vince Lombardi
Think twice before you print.<
BRAIN TEASERS
KNOWLEDGE CAPITAL
In the previous issue… Q1: How many clients do we have in total under the Colliers Client Relationship Management program? Name any three top clients and their respective managers. A1: 14. They are: Client
Relationship Managers
AMP Capital
Hugh Menck
Ascendas / A-Reit
Dennis Yeo and Tan Boon Leong
Cambridge Industrial Trust
Hugh Menck and Tan Boon Leong
CapitaLand
Dennis Yeo, Calvin Yeo and Lim Poh Gheok
CWT
Rimon Ambarchi
DBS
Grace Ng and Goh Seow Leng
Ernst & Young
Cynthia Ng and Ng Ee Kiat
Keppel Land / K-Reit
Cynthia Ng and Calvin Yeo
Mapletree
Ng Ee Kiat and Goh Seow Leng
OCBC Bank
Grace Ng and Ho Eng Joo
Pacific Star
Dennis Yeo, Ho Eng Joo and Tan Kok Heng
Standard Char tered Bank
Grace Ng and Goh Seow Leng
United Engineers Limited
Ho Eng Joo and Tan Boon Leong
UOB
Grace Ng and Ho Eng Joo
Q2: What letter is next in the sequence? M, A, M, J, J, A, S, ___ A2: O for October.
18
IN THE KNOW
www.colliers.com/singapore
None of the participants has correctly answered both questions in their entry. The prize will hence be snowballed. Work your brain! The first person to email all the correct answers to li-ching.seah@ colliers.com will win a S$40 shopping/food voucher.
Q1: Colliers International is now the third largest real estate service provider in the world. True or false? Q2: I travel around the world but stay in a corner. What am I? Note: Past winners who have won the contest three times will not be qualified for any prizes for a period of one year, starting from the month of his/her first win.
Our Knowledge is your Property®