Property Insight November 2019 by PropertyInsight

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NOVEMBER 2018

COVER STORY

LIKE FATHER LIKE DAUGHTER MKLANDâ&#x20AC;&#x2122;S RM7.50(WM) RM9.00(EM) KDN PP 18181/04/2013 (033492)

NOVEMBER 2018

FELINA MUSTAPHA KAMAL SHARES A SPECIAL BOND WITH HER DAD

PHILANTHROPHIST THE 3 MYTHS THAT WITH A GOLDEN HEART STOP YOU FROM INVESTING

contents

Like Father, Like Daughter

The 3 Myths That Stop You From Investing

REKA Interiors Exhibition (RiX) To Elevate The Design Industry

Is Investing All Of Your Money In Property Assets Wise?

Philanthrophist With A Golden Heart

Investing In Commercial Property

Property Market: Projected Improvement In 2H2018

Property Investment Is Everything About Starting It Realistically

Co-working Space: A Growing Industryâ&#x20AC;?

Strategy For Owning Property Among Women

The Inconvenient Truth About Negative Cash Flow Properties

AUGUST 2018

EDITORIAL

Continuing the Legacy of Building Affordable Homes

Publisher/Editor-In-Chief Dato’ KK Chua kkchua@propertyinsight.com.my

“I think everybody has their own way of looking at their lives as some kind of pilgrimage. Some people will see their role as a pilgrim in terms of setting up a fine family or establishing a business inheritance.”

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Jeff Tan editor@entrepreneurinsight.com.my

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On The Cover TAN SRI MUSTAPHA KAMAL Founder of MK Land Holdings Berhad

It is not easy juggling between running a business and taking care of your family. However, charismatic property magnate Tan Sri Mustapha Kamal Abu Bakar has managed both matters well. He also played a crucial role in laying down the foundations for his eldest daughter, Felina Mustapha Kamal to take over the leadership at MK Land Holdings Berhad as Executive Chairman. Being the successor to the founder of a highly reputable property developer who has led the Group for more than 30 year is a huge responsibility. Nevertheless, having entered the industry in 1997 and learning from her father, who she refers to as her best teacher, she has vowed to continue Tan Sri’s legacy of building quality homes. It is also heart-warming to know that one of the main focus which Felina has set for MK Land is to build more affordable houses, which is a great way to contribute back to society. Speaking of affordable houses, the new federal government has set a target of building one million affordable homes throughout Malaysia. The government and property developers can take inspiration from Tan Sri’ Mustapha Kamal’s mantra of “Together we make it happen, on-time, within cost and with quality” and work closely together to achieve the target. At a recent press conference, Housing and Local Government Minister Zuraida Kamaruddin hassaid state governments, developers and the federal government need to meet each other half-way to resolve the long-running affordable housing issue. It is crucial to supply enough affordable housing to the market. The purpose is to ensure there is a healthy balance of affordable homes, mid-range housing and high-end residential units in the market. The government needs support and cooperation from property developers to plan and implement an efficient solution to solve the affordable housing issue. With a strong collaboration between the public and private sector, I believe the rakyat, especially the Below 40% (B40) income group can look forward to owning a house in the future. DATO’ KK CHUA PUBLISHER/EDITOR-IN-CHIEF PROPERTY INSIGHT

FELINA MUSTAPHA KAMAL

Executive Chairman of MK Land Holdings Berhad

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Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editors, writers nor employees or agents can be held liable for any errors, inaccuracies and/or omissions. The contents of this publication do not constitute investment advice. It is intended only to inform and illustrate. No reader should act on any information contained in this publication without ﬁrst seeking appropriate professional advice that takes into account their personal circumstances. We shall not be responsible for any loss or damage, whether directly or indirectly, incidentally or consequently arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reﬂect Property Insight’s views. The publisher does not endorse any company, organisation, person, investment strategy or technique mentioned in this publication unless expressedly stated otherwise. The publisher does not endorse any advertisements or special advertising features in this publication, nor does the publisher endorse any advertiser(s) or their products/services unless expressedly stated to the contrary. All rights reserved. No part of this publication may be reproduced in any form or by any means, including photocopying and imaging without the prior written permission of the publisher.

NOVEMBER 2018

news & events

DatumCorp Launches #Datumhomesforall Campaign

Mah Sing Launches Aster – TwoStorey Link Homes In Rawang

Datumcorp International Sdn Bhd (DatumCorp), a wholly owned subsidiary of Perbadanan Kemajuan Negeri Selangor (PKNS) recently launched its #DatumHomesforAll campaign at its Datum Galeria sales gallery in Kuala Lumpur. Selangor Menteri Besar Amirudin Shari and DatumCorp Chief Executive Officer Shytul Shahryn Mohamad Shaari officiated the launch of the campaign aimed at cementing DatumCorp’s community-building aims by achieving two objectives namely to increase awareness amongst the public of the contributions of the Orang Asli community to the state as well as to ease home ownership and investment in Datum Jelatek through four unique special year-end packages.

Mah Sing Group Berhad (Mah Sing) continues to unlock the value of Rawang by launching its first project in the M Aruna township named Aster recently. The Gross Development Value (GDV) of the township is RM520 million. Aster comprises two-storey link homes (20’ X 60’) with built-up areas of 1,666 sq ft that are priced from RM506,000 respectively. Mah Sing’s presence in Rawang spans approximately 480 acres covering three townships – M Aruna, M Residence 1 and M Residence 2. M Aruna is the first pilot project by Mah Sing which adopts the Industrialized Building System (IBS) precast technology to promote sustainability within the township by adopting a strict linear layout.

UEM Sunrise Partners Grab To Drive Cashless Culture In Publika & Iskandar Puteri UEM Sunrise Berhad, together with Grab Malaysia, announced their strategic partnership to extend cashless services such as transportation, dining and shopping among others with cashless in-store payments with the GrabPay mobile wallet, benefiting the business objectives of retailers and customers in and around Publika and Iskandar Puteri. As part of the partnership, UEM Sunrise will assist Grab to ensure that a significant number of their tenants adopt the GrabPay as their preferred cashless payment method. This is to enable merchants to not only do away with the worry of handling huge amounts of cash but be more focused on servicing their customers and have better visibility and transparency of daily transactions.

Stonor 3 Topping Up Ceremony Marks Another Milestone For Tan & Tan Tan & Tan, one of the pioneer property developers in Malaysia recently celebrated the topping up ceremony for Stonor 3 KLCC at its showroom located in Mid Valley on 19 September. Stonor 3 KLCC sits on 1.5 acres of prime freehold land right in the heart of the city. Centrally located, Stonor 3 offers great connectivity to key public transportation access points, amenities like international schools, retail and leisure options while boasting a leisurely 10-minute stroll to KLCC Park and the iconic Petronas Twin Towers. This elegant yet modern 41-storey luxury condominium which is due for completion in 2019 offers a total of 400 units, with sizes ranging from comfy studios (649 sq.ft) to 3-bedders (1232 sq.ft) perfect for a nuclear family.

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Sunway And NEC To Develop Smart City Solutions In Sunway Iskandar Sunway Iskandar and NEC Asia Pacific Pte Ltd (NEC) recently signed a Memorandum of Understanding (MoU) to explore a collaboration which aims to augment safety and security for the 1,800-acre Sunway Iskandar township in Johor and to develop smart city solutions together in an Innovation Centre of Excellence (CoE). The MoU will see the appointment of NEC Asia Pacific as one of Sunway Iskandar’s preferred ICT Vendor (system integrator and equipment provider). NEC plans to invest an estimated RM100 million into the township of Sunway Iskandar, which will create skilled tech jobs and develop local “technopreneurs” and tech-savvy talents within the economic growth corridor of Iskandar Malaysia. As part of the MoU, NEC will explore the implementation of the latest NEC technologies, including biometrics and video analytics, towards making Sunway Iskandar a smart, secure and sustainable township. A one-stop service desk support centre for NEC’s Managed Service business in Sunway Iskandar will also be established.

Veritas Kebun-Kebun Bangsar Project “Kebun-Kebun Bangsar” - a celebrated urban farm and social community project was undertaken by VERITAS Architects (VA) and VERITAS Landscape (VL) in collaboration with Taylor’s University School of Architecture, Building and Design students will design and build a structure on the Kebun-Kebun Bangsar site over the duration of five weeks. A team of 20 staff consisting four to five representatives each from VA, VL and Taylor’s helping to design and build the pavilion culminating in the VERITAS Gardening Day on 29 September 2018. Every Wednesday, for five weeks, the team will meet, discuss and design the structure. VA and VL’s role is to provide guidance, lead the design, solve the technical problems and details together with hired workers. Taylor’s students will assist with design, production, coordination and building onsite.

Gotong-royong Shows Communal Spirit Alive And Well In Kuala Lumpur Think City, in collaboration with non-governmental organisation RCOMM Lestari, the Federal Territories Ministry and local government agencies, recently participated in “Gotong Royong Mega Kuala Lumpur” in conjunction with World Cleanup Day 2018. The event which was held simultaneously in 11 parliamentary districts in Kuala Lumpur saw participation from more than 60,000 people. Clean-up efforts in the area in a 1km radius around Medan Pasar, more commonly known as the historic core of Kuala Lumpur, was officiated by Bukit Bintang Member of Parliament Fong Kui Lun. More than 500 volunteers gathered at Medan Pasar at 7am. By 10.30am, the festivities continued with a series of entertaining performances before wrapping up at 12pm.

NOVEMBER 2018

cover story

LIKE FATHER, LIKE DAUGHTER In this rare and exclusive interview, Felina Mustapha Kamal, the eldest daughter of Tan Sri Mustapha Kamal, who is Executive Chairman of MK Land Holdings Berhad, shares her plans for the Group since taking over the helm from her dad in 2017 BY YVONNE YOONG

MK Land Holdings Berhad Executive Chairman Felina Mustapha Kamal, 47, is every inch a spitting image of her tycoon father who is none other than charismatic property magnate Tan Sri Mustapha Kamal Abu Bakar. She has his laughter, smile, candid charm and spontaneity, confidence as well as charming sense of wit that comes naturally. And, she radiates warmth and kindness â&#x20AC;&#x201C; the sort that immediately lights up a room the minute she steps in. To top off this tall order, she also has a charismatic sense of leadership that is at once admirable and palpable. And, she exudes inspiration to all those whom she comes into contact with by virtue of

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her charming disposition as she is very approachable and confident. In fact, the way her top tier management and executive level staff surrounds her with attentive admiration – speaks volumes about this wonderful lady. After all, she fits into her many roles and responsibilities as loving wife and also doting mother to three children equally as snugly – as much as she plays her role as caring sister and the responsible eldest daughter to Tan Sri Mustapha Kamal and Puan Sri Wan Nong - the power couple known for their generosity in giving to the poor as they believe that The Almighty has granted them with so much already and it is only morally right that they give back to society. “I am truly blessed and I thank the Almighty for all my blessings, affirms Felina. Felina is indeed the real deal – being brainy and a hands on person – even as she is the personification of the modern day corporate lady and property queen rolled into one who holds her own court in her many roles and responsibilities as wife, daughter, sister and head honcho of her property empire. This is even as she proves that just as she has inherited her father’s looks and mannerisms, sense of humour and wit – as a chip off the old block - she has also obviously gotten the knack for nailing down the nuts and bolts of property and resort development right

down to the tiny details of the business. Counted Among “Malaysia’s Property Queens” Having started her career in 1997 as General Manager with MKN Holdings Berhad – her dad’s then private vehicle that controlled almost 40 per cent of MK Land back then, Felina later joined MK Land in January 2007 as Senior General Manager and was appointed to the board where her father was the controlling shareholder with some 47.4 per cent shareholding in the company when he was the Chairman and Executive Director of MK Land Holdings previously. Taking over the leadership mantle of her father who founded EMKAY Group in 1983 after 35 years of helming its operations is no mean feat – but, it is a role that sits well with her. The entire EMKAY Group portfolio of projects developed since then is estimated at much more than 60,000 residential, commercial and office units spanning a total combined built-up area of way above 10 million sq ft. This entails a total combined Gross Development Value (GDV) spanning some RM20 billion. “I enjoy what I do. I started in 2005 with MK Land and understudied my dad for about eight years. In 2009, he chose me as the Executive Director and then in 2017 - with the support from the management, the Board members and

the general support staff, I was elected as Acting Chairman when Dad left and after proving myself as capable, the BOD elected me as Executive Chairman of MK Land,” she shares. Felina Mustapha Kamal is hailed as one of the top women property developers in Malaysia today.

NOVEMBER 2018

cover story

Supported by her management staff, Felina is also focussed on “Doing Things Her Way” Commanding her own set of ideas was apparent in the pride she emits as we were whisked away to her Rafflesia project’s show unit located mere minutes away from the MK Land headquarters where her office is located. After the video interview and photography session ended, we were chauffeured to Rafflesia, and onto the site of “Felina’s Ladder”, a 285 step path of elongated steps snaking its way throughout the development, provides inspiration for residents to take a stroll or indulge in a bout of exercise within the development that provides a beautiful landscape against the lush canvas of a forest backdrop. “The reason I want to bring you to the project is because my life is focussed only about two things:- My family and my work. You can interview me at my office and have take the photo shoot done there but it would not be the real for me. I am not one who sits in the office and don’t go

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down to the ground. My office is really at the site of the projects. I am bringing you to Rafflesia to show you why I love this project so much.” “I wanted to show you the park because there were a lot of challenges developing this park. I first saw ‘Jacob’s Ladder’ while in Perth, Australia, and I thought it would be perfect for Rafflesia as I want people to come home to healthy surroundings in the development. I want residents staying here to be safe and surrounded by beautifully landscaped greenery as a symbiosis to the leafy jungle in the background. For me, living and breathing clean air amidst this green backdrop of Damansara Perdana is a testimony to God’s gift to us,” she enthuses. In encouraging a healthy lifestyle, respect was also the order of the day so trees that were taken down were replanted. “A tree of this size will take 100 years to grow and within 10 minutes, people cut it down. There goes one tree worth about RM700 to RM1,000 – and, that’s it. It

takes 100 years and the monetary and also intrinsic value of the tree are gone. We transferred some of the trees and made sure that those that are beautiful were kept,” she adds. Taking us on a private tour of the Parcel B Rafflesia showroom unit, “Felina’s Ladder” could also be viewed from the vantage point distance of the Rafflesia show unit’s balcony where eight acres of landscape and park occupy pride of place. These is also a pond complementing the development. Priced from RM3.5 million per unit, the leasehold Rafflesia development is the property developer’s highest priced highend landed project. “Parcel C is all sold out while Parcel B is the second batch comprising 36 units,” she says about the successful take-up rate of Rafflesia. Launching Affordable to High-End Properties

The next launches Felina says would entail northern projects such as Meru Perdana and Klebang in Perak as well as another development in Bukit Merah, also in Perak. “Most of our developments comprise apartments and we also have landed units. Dad started off the Group with affordable homes, starting with Flora Damansara then priced at around RM25,000 per unit and then it moved on to the apartments at Metropolitan SQ featuring the commercial component followed by boutique apartments. “We started from the affordable segment and saw that we could do this. Then, we launched the executive apartments and went into the high-end property segment with Rafflesia,” she relates adding Armanee Terrace was the Group’s signature trademark double-storey units which it launched as one of the first double-storey developments “in the sky” slightly over a decade ago. “I wasn’t involved in the detailing of Armanee Terrace but I was monitoring their progress of work. Dad didn’t want me to just sit in the office but told me to go to the site to meet the consultants, contractors and also suppliers. He told me it is also about teamwork and how to be a responsible developer. He had this long property development process chart in his office - starting from how we get obtained the land as well as put into place the construction process starting from the earthworks to the final handing over of the development. My Dad made me internalise and understand the entire property development process and I can proudly say that today, this has become second nature to me. He is the best teacher,” she relates. However, she acknowledges that since the global economic downturn, the property market has been hit as well. Hence, the focus on high-end residences has now taken a step back and so the Group intends to showcase homes which

are more affordable whereby the takeup rate can be higher in tandem with increased volume of units that can be produced at a lower cost as compared to high-end units. The strategy she explains, is to complete the whole process of development on time, within cost and with quality in mind. “Not that we are abandoning high end projects – we are still doing it but not so aggressively,” she adds sharing that the Group will continue churning out affordable housing projects in the next couple of years to meet the demands of the rakyat who are in need of homes that will not be a burden to them in the long run. “Property developers must be sensitive to the needs of the market and not merely strategise with the dollar sign as the goal. The smiles on people’s faces will ensure MK Land stays relevant, even if the bottom line is reasonable,” explains Felina saying that MK Land has gone beyond mere profits per se. Giving Back to Society Via Affordable Homes The Group’s next project would be concentrated on giving back to society by virtue of some units being priced at approximately RM70,000 to cater for wage earners who earn below RM1,500 per month and also those categorised in the Bottom 40% (B40) income group. “The proposed project is in Simpang Pulai, Ipoh but we haven’t given it a project name yet. It is a new baby comprising 100 units that are priced as low as RM70,000 per unit. We have just finalised an agreement with the Menteri Besar Incorporate of Perak to build these units because we want to tell everyone that they can have their own homes. Where can you get a house worth RM70,000 now? However, if you think of school teachers, the uniformed personnel and the lower ranking staff below the B40 category – when will they have a real home? All this time, they have had to rent. I am sure all the teachers who earn around RM2,000 per month will

find it difficult to afford a house priced at RM250,000 to RM300,000. “Initially, we will start to build the RM70,000 per unit house for all these people in Perak and hope the financial institutions will support us on this. We want to do this as a pilot project so that others can follow suit in promoting affordable houses,” explains Felina. The State Government of Perak has also given its support to this project. The company is aligning its launches of affordable homes in line with the new Federal Government’s manifesto of targeting one million affordable homes that is needed throughout Malaysia. “We have taken this initiative so as to respond to the Finance Minister’s call to provide affordable housing. So, we have the RM70,000 and RM250,000 priced properties as well as units priced from the RM250,000 to RM280,000 range. After that, comes our plans for a mixed development to enable us to do the cross-subsidisation process as in our Damansara Damai project in Petaling Jaya. We are very focused on what we will be doing for the next three years,” she emphasises. “Meanwhile, we also have over 400 units at Suasana@Damansara Damai that is priced at about RM250,000 per unit. The buyers I am sure, have worked very hard to buy the units so we have not only given them the products but also included comprehensive facilities. They will have the complete package - a swimming pool, children’s playground and surau besides providing two car parks per unit.” And, looking at the Group’s total land back which currently stands at 7,200 acres of which there is a balance 4,800 acres of land yet to be developed, it looks like the company will be able to assist in helping to meet the Government’s goal of providing more affordable homes that will be more realistically achievable.

NOVEMBER 2018

cover story

Quick Candid Takes with Felina Mustapha Kamal, Executive Chairman of MK Land Berhad Were you groomed from the start to take over your father’s business? After I have completed my Bachelor of Business Degree, I wasn’t given any other choice to work at any other place but to come back and work with him. He said “If you enjoy it, you can stay. If you don’t, you can tell me what you want to do. He’s a very diplomatic father and he always gives me a choice. He also advised me that whatever the choice I make - to not turn back, just go for it! “Do what you want to do - not what you have to do” was his simple philosophy. How was it like working with your dad? I enjoyed working with him although he was strict and often being reprimanded but I learnt a lot. There was one big event back then which I had organised at Bukit Merah Laketown Resort in which over 25,000 people came. But, my dad didn’t even say thank you or commend me on a good job done. At that time, Tun Dr Mahathir Mohamad who was the Prime Minister then said “Good job!” but Dad didn’t even say thank you to me. So I went back and cried to my mom. I guess Mom spoke to Dad and he told her – “Look, it’s her job. She’s supposed to do that. When it comes to the job, she’s my employee. Then, I thought about it and we had a talk. “7,001 actrea need to teach you the hard way and if I throw you in the sea – you must learn to swim by yourself. That is what he said to me and also:- ‘Failure is not an option. That’s it!’” Describe your dad He’s a very cool dad. Cool dad, cool grandfather. He loves playing cards with us. He always tells us and the children as well the grandchildren - whoever loses and whoever has the most cards, has to do the final counting. So, he’s actually teaching us how to count fast. It’s not so much about the game but about strategy - about how to win and also how counting and mathematics is important. If you watch Crazy Rich Asians, they play mah jong right. So, it’s about strategy and I guess that’s the old way of

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teaching us. He’s fun and likes to eat outside and has taught all of us to eat nasi daun. Curry is his favourite dish and after a while, we were into it also. He loves to play music but none of us know how to play musical instruments. So we sing whenever he plays the guitar- all of us will sing and dance along. We also love holding parties among ourselves - with 15 kids from my brothers and sisters between us, and 4 kids on my side with my spouse – so it’s enough for big party. Yes, and that’s why we are this size (laughs). What type of value system has your dad shared with you? Always be fair. Don’t be greedy. Life is already difficult, so make it simple. Be kind and fair to people. Be reasonable. Trust is the basis of all relationships. His mantra is “Together we make it happen, on-time, within cost and with quality”. What are your plans in continuing your dad’s legacy which he established for the group, now that you’re helming the huge MK Land Berhad ship as Executive Chairman? I think to continue what he has left means to continue his legacy that is to make sure his purchasers, and my clients have quality homes. We are known as a developer for affordable homes. And, because we are into property development and resorts as well as education - we have to give our buyers quality for every ringgit they spend as they have worked hard to earn it. So, I will continue what he’s left. And hopefully, there will be organic growth. How do you achieve a healthy work life balance given your huge role and responsibilities in business as well as family life? It’s not easy as I’m wearing several hats at once. Being a daughter to Tan Sri Mustapha Kamal is not easy – and, being a mother, wife and managing my family is not easy as I have to juggle everything. In fact, every night, I will have dinner with my parents if I’m in the country. Sometimes, it’s not easy to say no to them and I have to rush back. Sometimes, I may be in a meeting and Mom will call me “Are you coming back? Dad is waiting for you

to have dinner. So, I have to sacrifice a lot and juggle my time for everything. Your advice for women who want to make it big in the corporate world? I would advise those who want to be in a high position to be willing to sacrifice their time and manage it properly. Just don’t say “I don’t have time”, and that’s it. It is about discipline and knowing your roles and goals. Please surround yourself with competent people and trustworthy. Set your priorities right and the rest is about compliance and conformance to the statutory requirements and company’s Standard Operating Procedures (S.O.P.). Your thoughts on Ombak Villa Langkawi and Residensi Suasana@Damai, Damansara Damai – two of MK Land Berhad’s projects being awarded with Best Beach Resort Destination and Best Lifestyle Oriented Development respectively? I think the group deserve the awards especially in relation to the Ombak Villa Langkawi resort. When we first built it, dad didn’t want a normal building but a traditional one. So we sat down with the architect and the contractors. But when I was in Dubai, I met this Arab guy who remarked that “If you don’t know Ombak Villa - then you don’t know Langkawi. And, I am proud that the Prime Minister only stays at our villa when he comes for his official visit or holiday. Your thoughts on your dad winning the Best Corporate Social Responsibility (CSR) Award for his work on Yayasan Emkay? I think my dad deserves this title as not only does he plan but saw Yayasan EMKAY through. It took time for the Orang Asli to warm up to us and this was via something as simple as bringing them toothbrushes and my father also brought toys for their pre-school kids. His “Green Ranger Movement”, the Orang Utan conservation project, Belum Preservation Project in Perak and the “Kampung Angkat” education programme as well as Dialysis Centres all over the country were probably be the reason for him to be awarded the CSR Award. I think in showing his sincerity, he deserves the award.

What are some of your CSR initiatives? I have this special group of children in Langkawi. I look at my children and nephews – their future is there. But, what about these children? So, I’m taking these 34 children under my CSR project initiative at Ombak Villa in Langkawi. I’ll take them to my resort and show them a normal life. I have a physiotherapist staying with them who give them 24/7 treatment. I take them to my resort and show them a good time and to enhance further their lives. Some of them can now move their hands. When they grow up, they can work around three to four hours per day at the resort. So I want to show people that they can take these children and support them. I just want to make sure they get their education and their health is taken care of. I want to make sure that people have quality houses and I think as developers – we should complement each other. I want people to continue this legacy of my father’s by focussing on this CSR initiative. What are some of the values entrenched in this company? What can you compare your project’s branding to? For MK Land, when we take on a project – it must be affordable. I want people to appreciate each project that we build. I want each project to be a unique development that people can appreciate that doesn’t need to be so complicated. The projects don’t have to be so complicated but we want to make sure that they enjoy the property. It’s just like Gucci or Prada – some people may like Gucci or Prada so I want people to enjoy my project. Should I liken the prices of our projects to Hermes, Prada or Chanel – not too high – not too low - or Gucci or Prada – the brands that people enjoy? I want to ensure that we deliver our projects on time. I also want to ensure that theinitiative is not only on my level but I want other people to continue on the legacy of my father focussing on quality products and services - especially on the Nursing College which my dad has built for CSR purposes. Also, one of the key values I believe in is the quality time spent between both the employer and employees. After working hours, I am not only a boss - but also a friend to my employees because I think that having a good relationship with the staff is key to outstanding success for the company.

NOVEMBER 2018

Industry insight

REKA INTERIORS EXHIBITION(RiX) TO ELEVATE THE DESIGN INDUSTRY BY YVONNE YOONG

EKA Interiors Exhibition (RiX) 2018 which will be held concurrently with the popular Home Design & Interior Exhibition (HOMEDEC) is making a comeback after its successful inaugural debut last year where new definition was given to the overall exhibition setting. This was evident in the feedback from visitors and exhibitors alike – a few of whom comprised Singaporean clients who were impressed with the high level of curated exhibition booths on display last year. Scheduled to be held from 1 – 4 November 2018 at the Kuala Lumpur Convention Centre, RiX, which is jointly organised by award-winning exhibitions organiser C.I.S Network Sdn Bhd (C.I.S) and MIID Reka Sdn Bhd (MRSB), the commercial arm of the Malaysian Institute of Interior Designers

(MIID) - has already garnered over 70 per cent increase in exhibition floor space and 50 per cent more trade and professional visitors over the four-day event. Uniquely the only design show curated by designers for designers, RiX 2018 will attract a prolific list of interior designers, architects, developers, retrofitting specialists, retailers/merchandisers, product designers, buyers, specifiers, traders and dealers among many others both from Malaysia and abroad. This year’s theme, “Design Infinity, Future Spaces” will showcase a rich diversity of concepts in which designers can create their unique expression of exhibition space to reflect and meet the varying current needs and future demands of consumers.

The exhibition will feature interior products, furniture and materials from renowned local and international brands to inspire designers with fresh ideas and keep them updated on the latest developments in the industry. Sharing on his vision and objectives, C.I.S President Dato’ Vincent Lim reiterates:“We envision RiX as a platform where designers can meet industry players and exhibitors and be inspired. Exhibitors will also have the rare opportunity to showcase their best products in the most creative way under the expertise of some of Malaysia’s leading designer names”. The exhibition will also bring together great minds and professionals within the interior design industry both locally and internationally to stay updated on industry developments and to inspire talents via Town Hall sessions that encourage idea sharing, thoughts and opinions from both influential and emerging designers alike. Making the exhibition even more extraordinary are the multiple trade meetings, industry-led forums and not forgetting the show-stopping Design Installation feature. There will be nine masterpiece displays that will be showcased within a segment of the hall

(From left) Joe Chan-Founder & Creative Director of Designtone, Sean Yeap -Director of SWOT Design Group, Lai Siew Hong -Chief Executive Designer and Founder of Blu Water Studio, Dato’ Vincent Lim-President of C.I.S and Ooi Boon Seong-Chief Executive Director of Ooi Design & Associates brings together the greatest minds for the interior design industry.

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by prolific designers who have challenged their ability and creativity to utilise products and materials sourced exclusively with RiX exhibitors. What makes RiX such a unique show is a dedicated hall that will be specially curated by a team of celebrated Malaysian designers who will guide and support participating exhibitors in utilising the space in their booths so that they become show-stoppers of their own. The designers will help set the mood and show concept based on their wide range of portfolio and experiences in designing some of the most outstanding spaces in the country that has gained much attention. Four designers will be participating this year in developing a unique Malaysian design identity from a rich hybrid of design elements. “The showcase has garnered attention and interest as we have a great increase of requests for collaboration with over 40 companies as compared to last year. Also, as a great sign of success (from last year’s creative display), exhibitors have also asked to double up their floor space so that their visitors will have an equally enriching experience,” he opines further. Drawing further attention and expressions of interest coming from the exhibitors

from RiX’s first debut, Lai Siew Hong, one of the four curators who is also the Chief Executive Designer and Founder of Blu Water Studio attributes this to the fact that “curated shows like this are important as key masterpieces are carefully selected from a (wide) range (of repertoires) to create a powerful statement (that will be) made memorable to visitors”. Ooi Boon Seong, Chief Executive Designer of Ooi Design & Associates agrees, adding that:- “As designers, we hope to always promote a new angle and fresh perspective. As such, we pick out ‘star elements’ that will garner attention and interest”. The other two designers who will undertake the curating process together with Lai and Ooi are Sean Yeap, Director of SWOT

Design Group and Joe WH Chan, Founder and Creative Director of Designtone who all expressed their enthusiasm in putting up a great exhibition showcase. As visitors and designers are being kept updated with the latest developments in the industry, MIID President Ar. Chris Yap is confident that the event will continue to attract more than 2,000 industry visitors seeking not just new products, technology and industry updates - but those coming with the aim of establishing new distribution channels and agents for their respective markets. “RiX is where the design meets business. It is also where revolutionary ideas and concepts come to life. The creative expression becomes a crucial aspect of the branding and people will always remember one for what one’s brand stands for,” sums Dato’ Vincent Lim. RiX is an event under the annual REKA Design Week (RDW) organised by MRSB. RiX will be held in conjunction with the MIID REKA Conference and REKA International Design Award (RIDA) which signifies the organisation’s commitment in enhancing the nation’s interior design industry while expanding boundaries and enabling the local design fraternity to stay updated with the latest global developments. For more information on RiX, visit www.rixmalaysia.com

NOVEMBER 2018

industry veteran

PHILANTHROPHIST WITH A GOLDEN HEART

Tan Sri Mustapha Kamal was bestowed with the Best Corporate Social Responsibility (CSR) Award for his contributions to the community that encompass past contributions including establishing Yayasan Emkay at the Property Insight Prestigious Developer Awards (PIPDA) held in June this year BY YVONNE YOONG

“What you think, what you say and what is in your heart – it should all be one and the same. And, as for advice to my daughter – failure is not an option,” says Tan Sri Mustapha Kamal, Founder of MK Land Holdings Berhad with a gentle laugh as his eldest daughter Felina, 47, grimaces with an all too familiar knowing birthed out of a close relationship with her tycoon father. “I’m already retired but my daughter said, ‘You must attend this photoshoot session! So what choice do I have but to be here? So I’m here because of her. But, you can contact me anytime through Felina,’” he says with a laugh. And herein, the banter between father and daughter punctuates the camaraderie between the two who obviously enjoy each other’s company to a hilt. So one can only imagine how managing the huge property ship that is MK Land Holdings is one that she steers confidently and at ease, even with dad as a strong and invincible support in the background to advise and lend his guidance accordingly even as Felina has come on her own as a capable Executive Chairman with her own firm set of ideas. These words of wisdom resonated from our crew’s meeting with Tan Sri Mustapha in the aftermath of a fierce thunderstorm – which in hindsight was well worth the effort in navigating my drive from the office to the veteran property mogul’s office. After the storm lulled into a light drizzle, we strolled outside to the adjoining extensive balcony with its beautifully planned raw cement renderings that stretched on to command pride of place on the rooftop area much to the amazement of the team. The structure was cleverly orchestrated with an open space design

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BEST CSR AWARD

TAN SRI MUSTAPHA KAMAL YAYASAN EMKAY

enveloping the eponymous building named after the patriarch. As if orchestrated to perfect timing - as the fierce crescendo of the storm quietened down, Felina Mustapha Kamal, who has taken over the baton of leadership of MK Land Holdings, accompanies us into her father’s office where an air of playful banter between father and daughter easily comes to the fore. Posing with dad at his workspace, Felina gives him a peck on the cheek after the photo shoot as our crew headed to the next destination at Rafflesia – her latest pet project situated just minutes away from the MK Land office headquarters at Damansara Perdana. With admiration written all over her face, it is obvious that her father is her ultimate role model even as she names her mother as her source of inspiration. So too she names Malaysia’s ultimate power couple Tun Dr Mahathir Mohamad and Tun Dr Siti Hasmah Mohd Ali as role models who have played a significant part in moulding her to become who she is today – saying Tun’s advice to her to overlook small things and instead, focus on the big picture as well as Tun Siti Hasmah’s advice of keeping things simple, have had a profound impact on her. And, while age may have caught up with Tan Sri Mustapha - little has changed in the property magnate except for him speaking and walking slower - since I first cut my teeth in journalism at New Straits Times and was assigned to interview him

as the International Real Estate Federation (FIABCI) Malaysia Property Man of the Year way back in the year 2006. Tan Sri Mustapha’s memory serves him well as he recalls our interview back then when he was singled out and being recognised for his outstanding work on developing the Damansara Perdana enclave that was then branded into a new and vibrant township. The indisputable king of the hill whose

branding is so intrinsically linked to the leafy Damansara Perdana enclave township had told me during the exclusive interview that since there is no defect in the money paid by customers – the onus and responsibility is thus on the developer to launch units that live up to their quality promise and to complete on time. Success in fact, agrees with Tan Sri Mustapha to a tee. To his credit, the property magnate who has 35 years of experience since he established his

NOVEMBER 2018

industry veteran

private company, the EMKAY Group, in 1983, has founded another two companies, MK Land being one of them, as well as Setia Haruman Sdn Bhd, the master developer of Cyberjaya. All this while still vigorously devoting his time to various Corporate Social Responsibility (CSR) efforts. His humble rise to business tycoon status speaks of his entrepreneurial skill sets with a track record of excellence and a memory for detail that is second to none as testified by Felina who says her dad is a stickler for details when it comes to every aspect of work, down to addressing people correctly by their respective titles. His heart being in the right philanthropic place for community-centric causes has seen fruitful sustainability efforts specifically in the Belum Temengor Forest Complex through the Pulau Banding Foundation in the state of Perak to assist the State government to ensure that the 130-millionyear-old pristine forest spanning 300,000 hectares is protected from illegal threats as well as pumping up efforts to ensure the rainforest is known to all, near and far. In addition to this, the Foundation has set up the Pulau Banding Rainforest Research Centre which conducts research into the preservation and conservation efforts for this rainforest by local researchers and university students to ensure that their research work is facilitated. Belum Rainforest Resort on Pulau Banding, developed by the EMKAY Group is testament to this eco-tourism effort and its components were built on the natural terrain of the land without flattening it and not a single endemic tree was cut. All development on Pulau Banding under the EMKAY Group is bound by its selfimposed guidelines known as the Pulau Banding Charter that guarantees its continuous preservation and its care for the surrounding flora and fauna. Through the other foundations that he established - the EMKAY Foundation and Bukit Merah Orang Utan Island Foundation

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as well as project initiatives such as, among others, in education, health, rehabilitation, training plus conservation efforts – special care is also given to benefit the local community, the orang asli (aborigines) and local wildlife. These projects encompass establishing toy libraries, giving advice on nutrition to the natives as well as research on the endangered Orang Utans, which has seen the Bukit Merah Orang Utan Island kick-off its rehabilitation project with four Orang Utans and has flourished to become a thriving safe haven for this species, now standing at an amazing 24 – all born on the island itself in Peninsula Malaysia. The efforts at Belum also saw Tan Sri Mustapha establishing the Green Rangers Malaysia (GRM) initiative which is a cocurriculum activity in schools created to instill environmental awareness, character building, protection and conservation issues early on in school kids and he proudly informs us that the programme is now recognised by the Malaysian Ministry of Education. The list reads on and on to include contributing dialysis centres throughout the country, providing scholarships to students especially from the rural areas, the “Kampung Selamat Educational

Programme” as well as the UPSR tuition programme in the rural district of Kerian, Perak, also including the Industry Academia Collaboration namely the “Cyberjaya Graduate Employability Enabler” (CGEE) through Setia Haruman Sdn Bhd in Cyberjaya. The CGEE programme was unique and effective as it not only building confidence uplifted the soft skills for unemployed graduates but also aligned their skills to meet the needs of the industry in Cyberjaya which saw a 100 per cent success rate Tan Sri Mustapha was named Property Corporate Social Responsibility (CSR) Man of the Year at the recently held Property Insight Prestigious Developers Award (PIPDA) 2018 for his contribution to society and his legacy of delving into his pockets to do good is a trait prevalent to all his 4 children especially with Felina, with her many activities of taking care of the needs of special children Indeed, he is counted among the philanthropic developers who have played a significant role in changing the lives of the communities whereby they have their developments at. CHAMPIONING CSR INITIATIVES The devoted husband of Puan Sri Wan Nong Wan Ibrahim attributes his wife

who is known for her delicious cooking as being the brainchild to assist people in need, especially in relation to those living on the fringes of developed areas. To put a figure to the heart, the EMKAY Foundation has contributed, from the year 2001 to 2015 some RM47.92 million. Out of this, RM22.9 million was channelled as donation towards education initiatives while RM9.77 million went into health contributions. Meanwhile, contributions towards religion amounted to approximately RM4.49 million. Community welfare benefitted from some RM6.48 million while contributions towards sports amounted to RM4.28 million. It is no secret that he is a firm believer in education in changing the status of individuals especially among the underprivileged â&#x20AC;&#x201C; â&#x20AC;&#x153;from pre-school level until they reach the pinnacleâ&#x20AC;? as he happily testifies. This is the legacy that is being carried on by all his children especially by his eldest daughter Felina Mustapha Kamal who has been helming the ship since she took over from her father.

NOVEMBER 2018

main feature

PROPERTY MARKET:

PROJECTED IMPROVEMENT IN 2H2018 BY JEFF TAN

The Malaysian Institute of Estate Agents (MIEA) expects Malaysia’s property market performance to improve going into the second half of 2018 (2H2018), as the overall market has picked up over 1H2018. MIEA says that the new government’s step to plug loopholes in expenditure and the confidence in their governance is building momentum in investment. “All eyes are on the Budget 2019 announcement in November, which we believe will have a direct impact in the performance of the last quarter (of 2018) and beyond.” MIEA President Eric Lim views that the real estate fraternity with over 20,000 practitioners who are affected by the slow recovery encourages the government to take steps to strengthen the market. “While we should contain speculators, legitimate end users

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especially the younger generations like newly married couples should be given loan margins up to 90% specifically for first time home buyers. “The government could also implement policies to ask developers to make deferred down payments for these new purchasers in new developments. Another step is to place restrictions on new approvals on developments especially in very highly competitive areas and focus on approvals in areas where there is less competition in sales. This will help slow down the hangover of properties.” According to MIEA, volume of property transactions in 1H2018 for the residential sub-sector stood at 94, 202 units, which is a drop from 94, 992 units in 1H2017.

this to be maintained in Q42018. New completion in 2018 is estimated at 2.5 million sq ft, with five buildings completed including Etiqa Bangsar, KL Eco City and South Point Mid Vallley,” she explains.

“The variance of the drop in 2018 compared to 2017 is insignificant to say the market is dropping. The difference is only 790 units. This is an indication that the market is strengthening and we in MIEA is confident that this positive movement is an indicator of an overall stabilising of the property market in the next half of the year. “We represent members from all over the country and they seem to also experience positive sales overall in key market locations. There is movement in the oil and gas sector which in turn will help the demand for the rental market which needs a boost.”

She says with the ease of connectivity by LRT and MRT, more supply of betterquality buildings integrated with amenities, such as shopping malls and hotels, more office transactions have been recorded at the fringe of the city centre. “Overall, take-up was slower in Q3 2018 and we are not seeing any new take-up soon although oil prices have moved up. “In Kuala Lumpur city centre, demand remains soft despite the strengthening of oil prices. Average gross rent of prime office space is RM7.33 per sq ft while secondary rent remains stable at RM5.25 per sq ft. We expect this rate to be maintained in Q42018, which will result in lower overall average for 2018 compared to 2017.”

MIEA also states that occupancy of the office sector in 1H2018 fell slightly to 82.8% from 83.3% year-on-year, while occupancy of the retail sector remained unchanged at 79.9%.

As the main regional transportation hub with easy access to or from KLIA, Nawawi Tie Leung expects KL Sentral to remain as one of the key office locations. Current average rent is at RM6.86 per sq ft and this is expected to be maintained in Q4 2018, says Saleha.

In 1H2018, the commercial and industrial sectors improved in loan applications by 14.2% and approvals by 6.6%. The business sector is showing improvement which will have influence on the demand for the residential sector, says MIEA.

“We noted increasing enquiries and leasing activities from serviced office and co-working operators looking to set up new office or for expansion and tenants seeking flight to quality, especially at city fringe location.

OFFICE SECTOR REMAINS CHALLENGING On the other hand, Nawawi Tie Leung Property Consultants Executive Director and Regional Head of Research and Consulting, Saleha Yusoff says that the office market will continue to remain challenging as huge supply will continue to outstrip demand. This is because more commercial and mixed-use developments are taking place, leading to higher pressure on occupancy and rental rates.

“WeWork, an international co-working operator, is expected to open its first co-working space in Kuala Lumpur by end of this year. While, the local operators have been actively expanding to KL Fringe (KL Sentral and KL Eco City) or Selangor.”

“In Malaysia, total stock of purpose-built office buildings (privately-owned) is 174 million square foot (sq ft), with overall occupancy of 77%. Approximately 73% of this stock is concentrated in Klang Valley. “In Kuala Lumpur, with a current total stock of approximately 90 million sq ft, occupancy is at 78% and we expect

NOVEMBER 2018

main feature

She says that to date, Invest KL has attracted 73 multinational companies (MNCs), which collectively have taken up more than 700,000 sq ft of office space. Moving forward, Invest KL aims to secure more MNCs to achieve its target of 100 MNCs by 2020, indicating more potential demand for the office market. Despite some initial uncertainties after Pakatan Harapan took over the government, major office projects are unaffected by the cancellation of several mega infrastructure projects announced by the new government. “Moving forward, we expect the market to improve when there is more clarity on the policies from the newly elected government,” says Saleha. KLANG VALLEY RETAIL MARKET FACES STRONG HEADWINDS According to Knight Frank Malaysia’s “Real Estate Highlights 1st Half 2018” report, the MIER Consumer Sentiment Index (CSI) saw an improvement of 8.4 points in Q12018 to register at 91.0 points although it remains weak below the optimism threshold level of 100 points. Retail sales grew 2.6% in Q12018 driven by encouraging sales boosted by the Chinese New Year festive season. The report’s review period saw the opening of two shopping centres with a combined NLA of about 450,000 sq ft and the closure of Ampang Park shopping centre (256,319 sq ft NLA) for the construction of the Ampang Park Mass Rapid Transit (MRT) station under Line 2. This brought the cumulative supply of retail space in Klang Valley to approximately 57.5 million sq ft. The two completions are The Shoppes @ Four Seasons Place Kuala Lumpur and Evo Shopping Mall in Selangor. The Shoppes @ Four Seasons Place Kuala Lumpur, which officially opened on 15 May 2018, forms part of a larger integrated development comprising a hotel and branded residence components. The five-storey retail mall with NLA of 200,000 sq ft is anchored by Robinsons which comprises of designer boutiques, speciality stores

and premium food and beverage (F&B) outlets such as Atlas Gourmet Market & Bistro and Decadent by Four Seasons. Meanwhile, Evo Shopping Mall in Bangi made its debut on 19 January 2018 with four retail levels spanning across 250,000 sq ft. The mall is notably the only one in Bangi to house several prominent anchor and key tenants, namely Parkson, MaxValu, Samsung, Focus Point, Manhattan Fish Market, Caring Pharmacy, and Daiso. Knight Frank Malaysia says that 11 new shopping centres and supporting retail components with a combined retail space of circa 6.6 million sq ft are expected to enter the Klang Valley market by 2H2018. They are The Linc, GM Bukit Bintang, KL Eco City Retail Podium, Kiara 163, Eko Cheras Mall, Pinnacle, Empire City Damansara Mall, Tropicana Gardens, Skypark @ Cyberjaya, Pacific Star and Central i-City Shopping Centre (Central Plaza @ i-City). Looking at price and rentals, the average monthly gross rentals of selected prime shopping centres remained resilient. In Kuala Lumpur City, Suria KLCC and Pavilion Kuala Lumpur continued to command higher average monthly rentals of RM24.00 per sq ft to RM26.00 per sq ft. These popular malls registered near full occupancy of 97% and 99% respectively. In the city fringe, Mid Valley Megamall and The Gardens Mall command average monthly rentals of RM17.00 per sq ft and RM16.00 per sq ft respectively. These malls registered 100% and 98% occupancies, with back to back tenant movements and renewals. Meanwhile, the average monthly rentals for Sunway Pyramid Shopping Centre and The Mines in Selangor are RM14.00 per sq ft and RM9.00 per sq ft respectively. These malls are 99% and 94% occupied respectively. The Klang Valley retail landscape continues to face strong headwinds and the completion of 450,000 sq ft of space further heightens competition in an already crowded market. The main concern is more on the completed retail stock that have yet to be filled and this will place further pressure on occupancy levels in the future, states the report. Acknowledging the growing mismatch in supply and demand of selected property segments including retail, Kuala Lumpur City Hall (DBKL) has frozen approvals for all unapproved projects, including those built on hill slopes and public spaces. Knight Frank Malaysia expects this measure to provide a breather to the oversupplied retail market as it seeks to find its balance.

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OCTOBER 2018

feature

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OCTOBER 2018

strategy feature

CO-WORKING SPACE: A GROWING INDUSTRY BY JOTHAM LIM About a decade ago, start-ups and freelancers find it hard to secure a place to congregate and work. Their options were limited to renting an office lot, working from home or in a cafe. No right-minded business owner will rent an entire lot just to use a room. In this digital era, most companies are of smaller size than before, requiring fewer people to operate, but each square feet of office space is just as expensive as before. Faced with options that are either expensive or impractical, small companies are in need of low-cost and low commitment spaces.

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This demand has laid the foundation for the emergence of co-working spaces. Co-working spaces house multiple companies under one roof, allowing tenants to share common infrastructures, have better communication with each other, and most importantly, have a better working environment on a smaller budget. TYPES OF CO-WORKING SPACES In the heart of Taman Tun Dr Ismail (TTDI), operating 24 hours a day, is a co-working space called WorQ. It goes by the motto of “Get better work done together”.

WorQ Chief Executive Officer (CEO) Stephanie Ping explains that the co-working spaces in Malaysia have slowly branched out into two categories, namely serviced offices and community-based spaces. “Serviced offices are just office spaces that have been partitioned and furnished by the landlord,” she says. “Rented out on a monthly or yearly basis, these spaces can be easily managed by a single person, only requiring them to collect rent and provide simple maintenance.” “The business is relatively easy to start, run and manage. That is why the serviced office industry is growing rapidly in Kuala Lumpur.” Explaining further, she states, “On the other hand, community-based spaces are managed by a committee that is interested in building a community, rather than just renting out a physical space. Events are conducted on a normal basis and tenants are encouraged to learn and work with each other.” “Many community-based spaces are backed by seed programs and incubators. Thus, they are incentivised to help grow the companies and tenants inside their spaces. Eventually, these companies will provide stable rent, foster long-lasting relationships with other tenants, increased overall productivity and cultivate better working environment.”

Stephanie stresses that flexibility and relationship building are key concepts of community-based space. “Our contracts can range from one day to three years, as we do not want to tie down our tenants if they are facing financial troubles. That is why community-based spaces do not grow as quickly as serviced offices because building a community takes up a lot of time and effort.” OFFICE SPACE OVERSUPPLY Property Insight also got in touch Scoopoint CEO Tan Li Mei, who operates her coworking space in Penang island. Commenting on the office space oversupply issue in Malaysia, she says, “Co-working spaces are definitely helping to ease the issue. Developers and agents have been struggling for sales a few years back. As the industry grows, I have seen several office lots being bought out to be converted into co-working spaces.” On the other hand, Ping assures that co-working spaces has little to do with the oversupply issue in Malaysia. “Look at Hong Kong and New York. These huge cities lack office spaces, yet the coworking space industry is booming over there. The office space market in Malaysia is so big that our industry would not make a large impact on it. INDUSTRY PERFORMANCE Tan says that the industry has grown rapidly and captured a lot of attention recently. “When I started my company one year ago in Penang, there were only two co-working spaces running on the entire island. Now, there are already at least 20 spaces in operation.

do know of our industry are very interested in our services, but it will take a while for them to adapt and adopt a new way of working.” The Penang market is significantly smaller than Kuala Lumpur, hence most co-working spaces are competing based on price instead of value and service, she says. “But again, there is still market demand, and the pie is big enough for everyone to enjoy.

“We are also struggling to compete with established international brands like Regus, but we are looking to do things differently and find more ways to add value to our customers,” she adds. Tan reveals that Scoopoint has a general occupancy rate of 55 per cent to date this year. “In just one year, we have fully rented out our small offices and dedicated desks. However, we are having trouble renting out our large office spaces. “There is a high demand for low commitment spaces. That is why we provide daily passes or even hourly rates. We don’t want to impose restrictions onto our customers. They can come and go as they please,” she says. On the other hand, WorQ is currently adopting a Hyper-Localised-Community concept. “Each office has their own individual culture and demographics. Our TTDI office has many digital nomads, while others have

logistic companies. We customise our events and workshops and provide unique services to cater to their specialised needs. “Despite our high turn-over rate, our offices are mostly occupied all of the time. We will open up a new office in Subang, and I am very optimistic about the outcome,” says Ping. “Malaysia has only a few major cities with a small market. So, we are looking to leverage the suburban areas and small towns throughout the country. There is an untapped market out there, and I see great potential in that.” FUTURE EXPECTATIONS When asked about the industry’s future, Tan says, “The industry will definitely grow bigger. In fact, we are going to launch a new office in Kuala Lumpur and looking to expand towards Vietnam. We have already made plans for app development, building an online community and expanding our database. “For those who are looking to break into this industry, my advice is to cater to a niche audience. For me, I’m focusing on creative entrepreneurs, but there are plenty of other options out there.” Ping also expects an optimistic future for the industry. “However, I am expecting a totally new industry to emerge soon, probably more revolutionary than co-working spaces. When the market remains stagnant for too long, new innovative ideas will take over the market by storm. I’m looking forward to what the future has in store.”

“There is certainly a high demand for co-working spaces. While Kuala Lumpur is focused on catering to corporate and small and medium enterprise (SME) clients, we shift our focus more towards freelancers and small start-ups, as they benefit more from our services. “But, not many people are aware of the coworking spaces in Penang yet. Those who

NOVEMBER 2018

investor next door

ST R AT E GY F O R O P

roperty investment can bring satisfying returns, but one must carry out necessary preparations before taking up this form of investment.

This is the message that Property and Profile Consultant Ros Shila highlighted when speaking at a property talk recently held by Property Insight. While delivering her talk on “Strategy for Owning Property Among Women”, Shila says that she decided to start investing in property after experiencing financial difficulties. “Two years ago, I was struggling with some financial difficulties. People earning decent or relatively high wages can be troubled by financial problems too. It all boils down to their lifestyle and commitments,” she states. Despite facing financial difficulties, Shila built up courage to venture into property investment. She started attending property investment classes and collecting information on properties “Two years ago, I wanted to buy a property priced slightly above RM600,000, but my housing loan application was rejected. I was puzzled as my income at that time was quite good, which shouldn’t pose as a problem for me to get the loan. “I asked the bank officer why my loan application was rejected but the officer said he cannot reveal the reason.” Facing this setback, she went out in search for a financial guru and restructured her own financials. “That was when I realised we invest in property not to own the property, but the purpose is to benefit from the purchase. “The best thing about investing in property is making profit. Although there is another way to make profit which is through running a business, but then not everyone is good in doing business,” she explains. After overcoming her financial difficulties, Shila managed to purchase a few properties in the past two years under the guidance of a property investment guru. She stresses that one must have a clear purpose to why they picked property as a form of investment. It is also crucial to set targets, such as the number of properties to acquire, as wells

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Y T R E P O R P G N OWNI Among Women

BY JEFF TAN

expected capital appreciation and rental yield, she adds. However, she urges those with plans to invest in property to manage their debts well to avoid hiccups, for example rejected housing loan application. One of the reasons to invest in property is because it can be done by using “other people’s money” such as bank loan and rental, she asserts. She says that property investment is a form of safe investment, as long as it is done with sufficient knowledge. “No matter how much property prices drop, the decrease will be in line with the rate of inflation,” she adds. She points out that property investment also offers different options to earn profit. “A property investor can rent out his or her purchased property or sell it to gain income.” Another reason for one to invest in property is to use it as financial preparation for the future. It can be a preparation for children’s education, retirement or leisure (such as vacation) purposes, says Shila. She has five strategies for women to own property. The first is to be brave and rise to the challenge of investing in properties, she quips. “Many women have the intention to purchase property but lack the courage to take action. Hence, it is important that after building up courage to invest in a property, they must find a strong reason to avoid losing it.” she says. This will help to avoid the situation where one backs out of purchasing property at the last process because of doubts, even if there is no problem with the loan application, she adds. Shila advises those who are not wealthy financially to purchase an investment property first, before acquiring their dream home.

“Not every home buyer can afford to buy a dream home which is of a higher-end category. However, there is always the alternative to purchase an affordable investment property and rely on upgrading to eventually own your dream home,” she explains. The second strategy is to not be held back by doubts and mere possibilities. “In terms of investing in property, women will have doubts such as will it be difficult to get tenants or selling the property in the future.” She urges women to adopt a hands-on approach when investing in property and not solely depend on their husbands to manage the financial aspects. Third, is for those planning to purchase property to practise a smart way of managing their financials, which is crucial, says Shila. “It is better to be patient and carry out proper financial planning for ten years, in order to live an easy life for the following years. “Set aside a portion of income to purchase property. Plan and focus on financial priorities such as setting a limit on unnecessary expenditures. It is also more important to manage financials smartly rather than saving money,” she asserts. She says that the fourth strategy is to participate in property investment with the necessary knowledge. “It is advisable to invest in knowledge first through an investment guru. Then, one can start taking action on property investment based on the acquired knowledge. Without knowledge and action, what has been planned will only be a plan.” According to her, the last strategy is to be in the same circle of fellow property investors. “It helps when you are friends with others who are investing in properties. They will help to give you ideas and information on property investment.”

NOVEMBER SEPTEMBER2018 2018

finance

THE 3

THAT STOP YOU FROM MYTHS INVESTING

MYTH #1: I DON’T EARN ENOUGH TO SAVE MONEY If you think you don’t earn enough to put aside some savings for a rainy day, these are probably a portion of the thoughts going through your head:•

•

“My paycheck is small and I don’t have extra money to set aside for savings.” “I will start managing my personal finances when I get a bigger paycheck.” “My savings is too small to make a difference, so why bother saving now.”

Why The Above Is a Myth:If you give some observation to this “phenomenon”, many people are living paycheck to paycheck not because they do0n’t earn enough money. Instead, the underlying cause is more like they don’t pay themselves first. Why pay your hardearned money to other people first instead of yourself? Spend whatever that is left, not save whatever that is left. This is a “secret” savings mechanism that many tend to ignore. A Ringgit saved is a Ringgit earned. If it is not saved, then it belongs to someone else like the gadget reseller who will receive it

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from you when you purchase something from them. Budgeting and savings are crucial if you want to hit your financial goals. MYTH #2: ONLY THE RICH CAN INVEST Only people like Warren Buffet or those who belong to the league of Crazy Rich Asians are the privileged ones who can invest. For people like me who are struggling to get by every month, investments should be the last thing on my checklist.

Why The Above Is A Myth:Anyone can invest - even if they have nothing left in their bank account. You can set aside some money regularly to invest in a unit trust fund or purchase a small quantity of stocks - say 100 units of certain stocks where understand the business well. The most important thing to do is to start now because the earlier you start, the more returns you will be able to get in the long run - thanks to the magic of

compounding interest. That is what time can do for you when it is still a friend on your side. When you are running out of time, you will hope that you actually started putting your money to work for you, earlier. We have covered the benefits of utilising compound interest to build and grow your wealth earlier. Simply put - this can be translated to denote interest earning interest, and how this method alone can grow your wealth in an exponential way. MYTH #3: MY MONEY IS SAFEST KEPT IN A BANK Many may think that depositing money in a bank would keep their money secure from theft and the risk of loss as in the case of placing it in investments. Unfortunately, this is not true. Your money really isn’t the safest - kept in the bank! Why The Above Is A Myth:Technically speaking – yes it’s true. Your money is safer being kept in the bank than keeping it under your pillow. However, if you are saving for the long run, the safest place to put your money is not necessarily in a bank account that produces interest that is negligible. Over the years, if inflation rises by about 3% to 4% per annum while your money is earning just 2% to 3% per annum in your bank account – then, you are actually getting a negative interest rate and your

purchasing power is actually shrinking. Therefore, you can actually be losing money if your savings account provides you with little to no interest. This is because you are not keeping up with inflation, and you have got to pay more to buy the same product or services and are in fact - most likely to get lesser value for your money. Therefore, keeping your money in the bank is not as “safe as you think”. WHAT CAN YOU DO? Investment instruments like Real Estate Investment Trusts (REITS) is one of the good options for ensuring consistent dividends is gotten as REITS is mandated to distribute up to 90% of its income to its holders. In fact, its yield is normally higher than what could be expected from Fixed Deposit (FD) placements. However, as REITs are listed on the stock exchange, this brings along with them price fluctuation risks as well.

This is why landlords and owners alike can increase rentals every now and then which makes property a favourable hedge against inflation. Of course, these assets have their limitations as the entry barrier is relatively higher than other paper-based assets. What’s more - they are less liquid in nature also. Of course, another option available to you is that you can also think about venturing into business should you have the required skills, time, passion and desire to do so. It is important for you to assess your risk profile and risk tolerance level before executing your plan. You must make sure your foundation is stable. By this, you must have an adequate emergency fund to weather any challenge life throws at you. Proper planning tends to increase the odds of achieving your life’s goals.

Real assets such as property is also a good option as a hedge against inflation.

KEVIN K.M. NEOH

is a licenced Financial Planner with the Securities Commission and Bank Negara Malaysia. Email him at KevinNeoh@vka.com.my

NOVEMBER 2018

finance

Is Investing All of Your Money In Property Assets Wise? giants even seem to cause investors to shy away from Malaysia right now. As these uncertainties fade, prices in real estate will rise again. According to Savills (Malaysia) Sdn Bhd — a global property consultancy firm — this would occur as soon as the second half of 2019. Incidentally, more people are already taking increased loans for property purchases this year. During the first two months of 2018, data from Savills recorded some RM14 billion in housing loan applications that showed an increase of around RM1 billion in comparison to the same period last year.

f you are reading what many property consultants are currently discussing about the property market, you could likely come to a conclusion that now is the best time to buy. From 2016, real estate prices in Malaysia continued to decline into the fourth quarter of 2017. This downtrend also continued in 2018. The declining trend seems to be consistent with prevailing market sentiments. Uncertainties influence market sentiment, as in the prolonged issue of oversupply of units within the domestic property market or the current trade war between the US and China. Uncertainties revolving around the tensions between the two big economic

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So, within the span of about 10 months before the start of the second half of 2019, you might be thinking, “I had better dump all of my money in real estate while the prices are still hot”. But wait! Is that a good idea? We have a real case for you to consider before you turn your liquid money into bricks and mortar. Credit Counselling and Debt Management Agency - or more commonly known as Agensi Kaunseling dan Pengurusan Kredit (AKPK) - has helped hundreds of thousands of financially distressed individuals. Many of these cases involve unmanageable property loans. Here’s one very recent example:A couple came for counselling with AKPK. The husband had previously worked with an Oil & Gas company in Kuala Lumpur with a whopping salary of about RM30,000 per month but was recently retrenched.

He now drives for Grab with a take-home income of about RM4,000 per month. The wife currently works as an executive at a local bank in Kuala Lumpur and draws an income of RM7,000 per month. During the previous property market boom, he had invested in four properties and rented them out for additional income. All of the properties were financed by a few banks amounting to some RM2.5 million with total instalments of RM12,000 per month. After his retrenchment, he could no longer afford the instalments. He tried to sell off the houses but to no avail as all his potential buyers failed to get financing. He was feeling very stressed and worried that he would be adjudged bankrupt if the banks go to court. That would put an end to his chance of ever returning to the job market as an engineer. Finally, he came to AKPK for assistance. He had a few options. He could let the banks auction off the properties or sell them off himself via private treaty for a price lower than market value. He could also negotiate with the banks for lower instalments by extending the tenure, during which time, AKPK could assist via its Debt Management Programme (DMP). Under the DMP, AKPK managed to get the banks’ agreement to restructure the instalment plans. To the client’s relief, he is now only required to pay lower instalments for each of his four housing loans. The couple’s joint income had proven to the banks that he has enough disposable income to pay the loans. However, for full financial recovery, the client was advised to continue working on selling off three of his properties while keeping the one the couple is currently living in by using his Employees Provident Fund (EPF) contributions to fund the housing loan. As the properties start being sold, the reduction in financial commitments would be reduced or stop his dependency altogether on his EPF funds.

Now, he’s doing just fine. Don’t get us wrong. Investment in real estate is indeed good especially as an instrument to fund your retirement. The return on investment (ROI) is considered very stable and, depending on location, you could expect it to be always around 10%. However, the risk of zero rental income is always there and unforeseen circumstances can happen anytime to jeopardise your investments. Like the engineer, you can end up selling off your properties at a lower price than the market value or worse still, end up being declared a bankrupt. Invest wisely. AKPK has always stood by the principle of making prudent financial management a way of life. Remember to think about protecting your investments - no matter how busy you are in creating wealth. In planning your investment portfolio, look into these aspects:-

2. Ease of disposal during difficult times when considering the assets’ risk and return trade-off. 3. Lastly, and most importantly diversify your investments into a few asset types, and not just rely on property in order to mitigate risks. So, even when your property investment fails, you would still have investments in other assets that may appreciate at the same time. Do you have any trouble with paying your home financing? Don’t wait until it’s too late. Call the POWER! AKPK Infoline at 03-2616 7766 today to inquire about our services. All of our services are FREE to individuals. Alert:- AKPK has never appointed any third party or agent to represent AKPK and/ or render services on its behalf. Don’t be duped.

1. Suitable insurance policies and products that can safeguard your investments.

Nor Fazleen Zakaria

is the General Manager (Operations Division) of Agensi Kaunseling & Pengurusan Kredit (AKPK)

NOVEMBER 2018

strategy

Investing In Commercial Property A

mong the many investment options available in Malaysia, property investment is traditionally perceived as safe and long-term, which can be highly rewarding when the right strategies are applied. Most of the focus has always been placed on residential properties, but many experienced property investors are setting their eyes on commercial properties to diversify their property investment portfolio. The property market in Malaysia has been moving slow this year, but it is expected to improve next year. This makes it a buyersâ&#x20AC;&#x2122; market now, which is a good time for investors to explore investment opportunities, especially in the commercial property segment. The advantages of investing in commercial property include higher rental yield, longer lease period, solid growth in capital appreciation, and no other outgoing expenses. Once you have decided on the type of commercial property, survey the market and pick the best of type comparison. For example, if you are considering a shop unit, shortlist a few locations to make a comparison. Take the property price divided by the square footage. This will be an important indicator to determine if the property is expensive or cheap.

maximum margin of finance is 80 per cent. Furthermore, in contrast to buying a residential property, the buyer is not allowed to withdraw funds from their EPF Account II to pay for their property if it is under a commercial title.

Due to the residential property restriction, investors are only allowed 70 per cent financing for their third home loan onwards, but there is no such regulation for commercial properties where the general

Here are five types of commercial property in Malaysia for your investment consideration:

MALAYSIA OVERHANG AND UNSOLD UNITS BY SUB-SECTOR Overhang

Sub-sector Residential Shop Industry Source: JPPH

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Unsold Under Construction

Unsold Not Costructed

2016

2017

2016

2017

2016

2017

14,792

24,738

64,077

61,882

11,622

12,626

5,069

4,546

6,889

5,889

715

332

842

999

1,153

916

124

OFFICE LOTS In most cases, office lots or officially known as Purpose Built Offices (PBOs) by the Valuation and Property Services Department (JPPH) are located within large multi-storey buildings, office towers and skyscrapers. These buildings are built with a main purpose for office use, where office space is not less than 75 per cent of the net-lettable area. According to JPPH, the average occupancy rate for PBOs in Selangor improved to 80 per cent in 2017 compared to 77.9 per cent in 2016. As of Q42017, Selangor’s PBO Rental Index stood at 133.6 points, up by 2.7 per cent from 130.1 points in Q42016. These are encouraging indicators to investors. SOFOS Small-office, Flexible-offices (SoFos) offer much flexibility on space usage to its owners or tenants. Usually, these units are built without internal partitions. Hence, occupants have the flexibility to customise or set up the office space layout according to their specific needs. SOVOS Small-office Versatile-offices (SoVos) are small office spaces fully equipped with infrastructure and telecommunication facilities and cater to the needs of individual business owners and entrepreneurs who own small start-ups, helping them to set up their businesses instantly. SHOP LOTS Also known as shophouses, these buildings comprise of a shop on the ground floor while the above levels serve as storage space or employees’ hostel. Shop lots (shop building) are the most common commercial property in Malaysia. Most local businesses such as food and beverage (F&B) outlets, saloons, car-workshops and pharmacies operate out of shop lots. SHOP UNITS Shop units are individual units within a shop lot building. For example, a 3-storey shop lot has one shop unit on each floor with different owners. This is made possible because each unit has its individual strata title. In comparison, a shop lot only has one owner and one strata title.

Due to the nature of its strata title, shop units are generally cheaper and provide a lower entry point for aspiring commercial property investors as they can choose to purchase one individual shop unit. In 2017, the shop sub-sector accounted for 55.6 per cent of the market’s transactions. According to JPPH’s 2017 Property Market Report, rentals for shops at ground floor level remained generally stable. The shops segment achieved a 10.3 per cent reduction in overhang volume in 2017, from 5,069 to 4,546. However, the value of overhang properties increased by 16.3 per cent to RM3.3 billion, as roughly two-thirds of these units were in the RM750,000 and above price category. The unsold under construction and not constructed decreased further by 14.5 per cent and 53.6 per cent to 5,889 units and 332 units, respectively too. It is important to apply the guidelines of selecting properties in locations with great connectivity, amenities and a solid population catchment when investing in commercial properties. For an investor, the location of a commercial property is crucial to the rental yield as it is crucial to the tenant’s business success. Depending on the nature of the commercial property, especially in the case of a shop lot, it is generally better for it to be located in a busy area with high traffic and large catchments of residents. This is an important factor for businesses such as eateries and shops providing services to attract customers and grow their business. Before purchasing a commercial property, it is also necessary to check if there are enough available parking spaces within the area. Many business centres (mainly comprising shop lots) face traffic congestion problem due to lack of parking spaces. This problem may affect rental rates in the area. In conclusion, although investing in a commercial property may be riskier than a residential property, but it does bring higher returns when you pick the right product and location.

DATO’ KK CHUA

Publisher/Editor-In-Chief of Property Insight Email him at kkchua@propertyinsight.com.my

NOVEMBER 2018

strategy

PROPERTY INVESTMENT IS EVERYTHING ABOUT STARTING IT REALISTICALLY

Here are some tips on how to work out a strategic balance when it comes to property investment matters

bought my first property when I was 26 years old. That was five years after I had started working. The property was an apartment in Penang spanning 730 sq ft in built-up area. At that time, I thought that I would stay in that property for a very long time, just like my parents did in their property then. Realistically speaking however, I had bought that apartment because it was the only one that met all my minimum requirements at that time and did not go beyond the maximum property price I could afford. However, just how many of us believe that we deserve a better property and thus, we try to wait for that “better” property opportunity to emerge? I stayed in the apartment for only four years because as my salary grew, my expectations for a better home became a reality too. Realistically, I knew I could not afford a landed property on Penang island but I could buy a place which is close to double the size of my apartment and afford the mortgage with my monthly salary. I enjoyed staying at this condominium for many years and during these years, my property investment portfolio grew as well because my salary was also growing at the

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same time, and the bank approved my next purchase which was in Kelana Jaya, Petaling Jaya too. Many working professionals think big when it comes to property investment or perhaps concerning their first property. And realistically, we should always think big. However, the difference between someone who is able to buy that first property and continue along on their property investment journey is in the action taken. So, tvhink big but start small. The first property purchase is just a stepping stone. The second property purchased meanwhile is the next real start towards one’s property investment journey. This is why one should have a goal of owning 10 properties before 50 but one must start as early as possible based on a realistic manner.

Moving on, start reading and understand all one can about property investment. Join property fairs and listen to various talks on real estate. All these initiatives can be done almost immediately and does not cost much. These are actions which may be considered small steps but the final effects are huge. For the short term, it is all about the activities that one can engage in to propel one to the next level. Set a goal by all means but one should keep in mind that this could keep changing because one should not set a very high, inflexible goal which paralyses one’s actions. Thus, set a goal, hit it and set another one quickly. Buying that first property will already motivate one on the journey to buy the second and third property, and so on. Realistically speaking, there is nothing to stop one from buying a property every couple of years if one were to continue to do well in one’s career and stay focused on one’s big goal. Finally, here’s a courtesy reminder. Salaries grow based on what one currently earns. However, when it comes to the topic of house prices - this increases based on overall house prices year after year and not based on the 10 percent down-payment that was paid. A more famous saying would be “Aim at the star! If you do not hit it, at least you (may) reach the clouds.” This is only true if we take appropriate actions and not just dream about it daily. Property investment is everything about starting the journey realistically. So, happy investing!

Speaking from experience, the first thing one should do is to have a strong foundation to start off with. Save enough so that one can have a meaningful sum to sustain oneself even if one were to suddenly lose one’s job.

CHARLES TAN

is the Founder of kopiandproperty.com whereby he shares on real estate. Since buying his first home at the age of 25, he now has properties in Penang, the Klang Valley and Kota Kinabalu

Intersection of 4 highways: SKVE, SILK, North-South Hwy & Sg Besi Hwy Ready student population of more than 20,000 within 2-3km radius Total population of 70,000 within 10 minutes An MRT station (Uniten Station) to be built on Line 2 nearby Major hotels, 14 universities/colleges and 5 hospitals within 20 minutes Lifestyle mall at De Centrum Located in De Centrum city (100 acres of freehold development)

Your neo-urban lifestyle comes with a truly self-contained neighbourhood, where if you so choose to, you won’t need to drive out for almost anything. Daily shopping couldn’t get more convenient at the De Centrum Mall & Retail Shops. With lifestyle stores spread over more than 160,000 sq. ft. catering to your needs, you couldn’t be more spoilt for choice, with all literally beneath your feet.

strategy

THE INCONVENIENT

TRUTH ABOUT NEGATIVE CASH FLOW PROPERTIES I

nvestment in real estate is all about finding the right balance of long term holding power balanced against short term rental derived from properties so there’s no such thing as treating property investment like a speculative casino. •

All things being equal, it remains pretty challenging to get a positive Cash Flow (CF) property that is able to fetch say approximately RM500 per month in today’s market. [To simplify the equation, Cash Flow = Rental - Instalment]

•

Let me be transparent. Yes, although I myself am getting more than RM 500 positive Cash Flow from most of my properties, I must admit that that my properties fetching the highest cash flow was bought nearly 10 years ago! In my opinion, if you bought some of these similar properties in TODAY’s market though - you may suffer a fate far worse than Godzilla biting you to death!

•

This may sound dramatic but I’m keeping it real. Maybe some “Property Gurus” can generate super yields of some

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10% or thousands of ringgit in positive CF in TODAY’s market. However, that is not the case for me, so I would like to state my stand as a common man. 1. Firstly, even if you could get TEN positive CF properties fetching approximately RM500 per month each in terms of rental returns, this is only going to give you a modest RM5,000 per month (RM 500 x 10 properties). So yes, even though RM 5,000 is a decent amount - it certainly won’t give you a Jho Low or Paris Hilton-inspired lifestyle. 2. To me, it’s already a great achievement if your property can be considered cash flow neutral (Rental = Mortgage Instalment). 3. There is also nothing wrong with holding negative CF property, provided the negative cash flow doesn’t constitute more than FIVE PERCENT (5%) of your Net Active Income. For instance, if you earn RM 5,000, I would suggest a maximum negative CF of RM250 per month which translates to 5% x RM 5,000 and not a penny more. Why 5%? I am making an intelligent

guess that negative RM250 won’t cause too much of a financial stress to a RM 5,000 wage earner. 4. In other words, EARN MORE money too. For instance, if you earn RM 10,000 a month, you can afford a negative CF property of RM500 a month (5% x RM 10,000) which will give you greater holding power. •

You don’t really get “rich” from property rentals. After all, it is about the capital growth from your mass affluent property portfolio that spans over a 15-year cycle that will set you free. For instance, you would become financially free when your properties appreciate from RM1 mil to say, RM3 mil over the years.

•

And, in order for that to happen, you must be prepared to hold negative CF or CF neutral properties over the next 15 years or so. The catch at the end of the day is that your earned income must give you tremendous holding power.

SO, WHAT IS the MORAL OF THE STORY? • Property Investment isn’t as glamorous as what it is has been made out to be. In fact, it can be pretty boring and dull due to minimal CF. Therefore, one must resist the temptation to treat the business of property investment like a speculative casino. •

Always be patient. Choose fundamentally sound properties and let the magic of time compound its growth for you. In all humility, if we don’t sacrifice for what we want, what we want will become the sacrifice.

MARK CHUA

is the bestselling author of the book “WHO SAYS”. He is a Senior Vice President of a foreign bank and avid lover of properties. Email him at hello.markchua@gmail.com or www.facebook.com/MarkChuaMY

NOVEMBER 2018

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KING OF RETAIL

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Inspires young Entrepreneurs with his Midas Touch in training

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DISRUPTIVE TECHNOLOGIES

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DANIAL MA OF VRDT GROUP

THE MAN WITH THE MIDAS TOUCH BRINGS A CELEBRITY FEEL TO HIS LATEST PROJECT

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Revamping Current Business Models

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