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Über dieses Buch

This book presents interviews with 20 successful Malaysian housing developers, to provide real-world insights and practical know-how for future developers. It is designed in a way that reveals the secrets of successful developers, from their origins to their current status with the interviews conducted in a semi-structured manner so that the interviewees were able to freely share their experiences, thoughts, opinions and tips acquired throughout their business careers. Covering the developers’ success stories, from their background, educational history and personal traits to their business challenges and achievements, it appeals to academics and practitioners alike.

Inhaltsverzeichnis

Frontmatter

Introduction: Private Housing Developers in Malaysia

Frontmatter

Chapter 1. Private Housing Developers and Their Competitive Advantage

Abstract
Since the middle 1980s, academic commentators have started to relate and study the significance of organisational performance particularly with respect to competitiveness and business success. Generally, several theories have been identified by strategic management scholars to elucidate the concept of competitive advantage. This chapter elaborates the underpinning theories of competitive advantage comprising resource-based view (RBV) and dynamic capability view (DCV) to justify the importance of firm resources and capabilities in realising the business success of Malaysian housing developers. Drawing on the theoretical constituents, three emerging themes were recognised, i.e. (1) characteristics of owner-managers, (2) firm resources and management and (3) external factors. Based on the research conducted in Malaysian housing development industry, each theme will be concisely discussed under related subsections, encompassing various components such as demographic profiles, positive traits, land bank, strategy and planning, market analysis, financial management, social network, marketing principles, quality products, innovative projects, firm’s reputation, housing price, project location, government roles, macroeconomic indices and external fund.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 2. Profile of Malaysian Housing Developers

Abstract
This chapter illustrates the overview of housing development industry in Malaysia with profound indication on the involvement of housing developers in each state. The scenario of Malaysian residential development has transformed into a complex and diverse manner as numerous kinds of buildings are flourishing extensively throughout the country. While township development may still be relevant to be adopted by large property developers as housing demand is still burgeoning, majority of local homebuilders are switching their strategy to phasing and niche development due to the slowdown in the property market. Also, there is a novel trend of mega property developers in the country to merge and acquire other real estate firms in order to access sizeable land banks for further capital consolidation. Ironically, despite uncertain economic condition, Malaysia is doing well to attract foreign real estate corporations to invest and continue pursuing land development projects, with multinational companies from Japan, Russia, China, Taiwan and Singapore are constantly pouring their immense funding share in major cities like Klang Valley, Penang and Johor Bahru. With severe business competition, it seems that local residential developers need to capture the interest of new and seasoned property buyers with ever evolving design concepts and a variety of built-in amenities offered at a very competitive prices for their business survivability and further growth.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Small- and Medium-Scale Private Housing Developers

Frontmatter

Chapter 3. Maka Corporation Sdn Bhd

Abstract
Maka Corporation Sdn Bhd was established by Wan Mohd Dzulkifli Wan Daud who is one of the most successful businessmen in Kelantan. Previously, he was trained as a civil engineer, and through early experience in housing development coupled with high entrepreneurial personality, these have provided an advantage for him to prosper in this industry. His involvement in non-governmental organisations such as REHDA (Real Estate and Housing Developers’ Association) and MCOBA (Malay College Old Boys Association) has offered abundant opportunities for him to contribute to the growth of property development in Malaysia, specifically in facilitating new small-scale housing developers in Kelantan. Generally, he advises nascent homebuilders not to enter housing development with zero industry and business knowledge. Profound understanding on proper financial management is very critical in housing business. To him, housing developers must be very regimented in controlling cash flows. Thus, having an efficient system to monitor the cash-in and cash-out is really important. Besides that, he stressed on the importance of client satisfaction, with projects delivered on time, within budget and built to the highest quality. On top of that, creative marketing such as through incentives, commission and e-marketing should be embraced by the residential developers to earn customers’ attention. Another piece of guidance rendered by him is to look for larger land and implement phase-by-phase development. He also urges small property players to reduce debts and disregard any bank loans in order to avoid unexpected financial setback in the future.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 4. Wira Homeland Sdn Bhd

Abstract
Founded in April 1993 by Datuk Hanafi Bin Mamat, Wira Homeland Sdn Bhd was previously known as FNM Jaya Sdn Bhd during its inception. The founder saw the potential to develop Wira Homeland Sdn Bhd as a housing developer, corresponding to his expertise in dealing with land matters. Ironically, he emphasises on doing business with a lofty aim of giving back to the society. It is a great way to build pride for organisation, and one of the various channels is through corporate social responsibility (CSR) activities. He also highlights the importance of staff motivation and appreciation. A well-motivated workforce will exhibit greater employee engagement, enhance teamwork and collaboration as well as productivity gains and reduce absenteeism and ultimately produce more profitability. Apart from that, he reminds fellow developers to be sensitive towards environmental shocks as demand and supply of houses are relatively proportional to exogenous forces. Therefore, housing developers are encouraged to set a particular target and be responsive towards any changes made by the policymakers in order to sustain their business.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 5. Pakadiri Developer Sdn Bhd

Abstract
Pakadiri Developer Sdn Bhd is a family-based housing developer, helmed by Mr. Hussin Omar. He has a unique tendency of buying and assembling land banks, started from a young age. His vast experience in construction management has sparked his interest to involve in land development. He opines that his success relies upon diverse factors. Quality materials, on-time delivery and proper management skills are among the elements to succeed in the housing development business. He also urges other property developers to keep on replenishing the land banks and choose the best location for housing project. Besides that, the implementation of joint venturing strategy is relevant to be considered specifically for homebuilders who lack capital. Suppliers and creditors should be attentively prioritised to deter future managerial problems. In fact, the warm relationship should be extended to the subordinates, labourers, professionals and government officials as they are the key of a successful project development. It is indeed fascinating to note that he also highlights the significance of a signboard as a medium to give an overview of the project.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 6. Macinda Sdn Bhd

Abstract
Mr. Jonathan Kok Keng Fai inherited the management of Macinda Sdn Bhd from his father-in-law. The company’s integrity and excellent track record are touted as the main ingredients of business success in housing development industry. Besides that, he has a high desire and commitment to achieve client satisfaction. Having the foresight to judge correctly what is going to happen in the future is remarkably vital for housing developers. Thus, planning at the starting point is very crucial. Small residential developers need to carefully manage the processes and risks involved in construction with thorough planning and contingency reserves. Inspired by few successful business idols, he is also responsible to spearhead the automotive business as Macinda is looking forward to diversify into other types of business. With regard to marketing, he discovered a novel innovation through product enhancement by enclosing some add-ons and gifts to the homebuyers as a symbol of memento and appreciation. He also believes that providing show houses during launching period will convince the potential customers to purchase his products.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 7. Dynaton Holdings Sdn Bhd

Abstract
Dynaton Holdings Sdn Bhd is established and managed by Mr. Alan Lim Kim Hin. He managed to sharpen his business skills by being involved in many sorts of businesses after he finished his schooling days. In terms of personal traits, he acknowledges several attributes, such as being honest, hardworking and brave, as the main characteristics for success. Perhaps, his gutsy move to consider raising the prices of his houses is creditable, without compromising the quality and delivery. While profit might be the chief objective of every entrepreneur, superior quality service will be the determinant of success in property development industry. The provision of service to customers throughout the whole purchasing process should be emulated as it will conserve the reputation of housing producers. Responding to complaints and rectifying the problems as soon as possible will amaze the homebuyers and subsequently bring them closer and make them faithful. Management-wise, he also conducts weekly meeting with project staff and supervises their workmanship regularly. For him, human resource management is explicitly instrumental for the firm advancement. Having engaged with many stakeholders, he emphasises on the strong linkages to be created among various industry players for sustainable business success.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 8. Orchard Vest Sdn Bhd

Abstract
Orchard Vest Sdn Bhd is headed by Mr. Wong Boon Lang. As a former banker, he sees financial capability as the most critical facet for success in real estate business. Undeniably, becoming a property developer requires a colossal sum of money especially during project execution. If the business is expanding, homebuilders may need one or more injections of cash during the growth phase. This can take the form of a business loan from a financial institution through debt financing or equity financing from investors. Banks have dedicated property finance experts that can advise housing developers on available and suitable funds. Thus, he advocates other players to equip themselves with fundamental knowledge about the industry especially on the project viability by applying due diligence. It will implicitly assist the housing developers to raise the necessary finance. On top of that, pricing strategy is also crucial and must be analysed in relation to rival’s pricing mechanism. Perhaps, housing developers may profile the competitors by identifying their products, supply chains, pricing and marketing tactics. Aside from that, effective timing is another crucial aspect to attract customers and optimise revenue and profit. In a nutshell, he believes that prior to commencing the project, a lot of things must be considered by the housing developers to ensure project success and business survival.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 9. Taman Jadi (1989) Sdn Bhd

Abstract
Taman Jadi (1989) Sdn Bhd is currently led by Mr. Heng Tee Theng and his sons. He started his business by selling fishes and prawns internationally despite his language and communication barrier. What steered him to entrepreneurial success is his massive interest in business that encompasses a plenty amount of hard work, confidence and determination. Besides that, he also perceives that flexibility and a willingness to embrace change will make a formal planning process to be well performed. Rapidly changing business environment in terms of uncertain economy and precarious government policy requires wiser and quicker decision to be made. Adapting to the dynamic business world with well-prepared strategies will guarantee the business sustainability. In addition, project risks should be thoroughly calculated to mitigate unexpected drawbacks. For marketing strategies, he espouses various channels such as Internet marketing and newspaper advertisements as well as direct promotion in shopping malls. It must be followed with greater product characteristics such as quality, design and location. Half the battle would have been won if the three most decisive criteria were fulfilled. He also believes if the staff management welfare is protected, the business continuity will be eventually preserved.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 10. PDG Property Sdn Bhd

Abstract
PDG Property Sdn Bhd is a renowned housing development firm in Melaka, managed by Datuk Gwee Yew Kiat. Embarked his career in insurance business had unlocked various opportunities for him to be socialised with many outstanding people. Obviously, developing a successful business takes tremendous skill to navigate through all the speed bumps and roadblocks along the way. His experience in the industry enables him to see several notable strategies that suitably be pursued by small and medium housing developers such as launch the projects by phases, initiate small land development and develop a housing project next to the existing residences as well as the needs to focus the development on the second layer of the town or suburban. Additionally, the direct project observation must be regularly implemented to avoid unexpected problems. He is also in the opinion that inexperienced homebuilders should only heed the development part, while other unrelated works might be outsourced or subcontracted to other parties. Hence, the housing developers may pay their full attention on the market analysis and product quality to create branding and reputation value.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 11. Fairview Development Sdn Bhd

Abstract
Fairview Development Sdn Bhd was founded in 1985 by Datuk Muztaza Mohamad and his former business partner. As a qualified accountant, he currently holds an important post in CIMA and REHDA, respectively. In relation to his opinion, a testament that tenacity, determination and being true to one’s calling in life can reap manifold benefits. He is of the view that the Malay entrepreneurs should embrace the mentality of refugees in seeking and grabbing whatever opportunities in front of them. He also believes that goal setting for small business is an essential tool for business success. Defining the company’s vision and mission not only allows the housing developers to take control of the business direction as it can also provide them with a benchmark for determining whether they are actually succeeding or not. Therefore, perseverance and resilience in acquiring the best resources for business are commanded. Besides that, he observes that land banks, funding capital and human resources are among the required ingredients for business excellence of housing developers. Creating an environment of transparency, where the employees speak openly about business performance, can do wonders for the collective motivation of the workplace. It also opens interdepartmental channels, giving subordinates and employers greater clarity and more opportunities to overtly communicate.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 12. Sri Anika Development Sdn Bhd

Abstract
Sri Anika Group was initiated in 1995 by the late father of current group managing director, Dato’ Leong Kin Kun. In 2008, this marketing graduate decided to take over the family property business after the demise of his beloved father and make use of his prior trading knowledge to excel in housing development industry. He thinks that due diligence comprising feasibility study and market analysis should be employed by residential developers through the incorporation of problem-solving skills such as finding solutions to planning issues, dealing with unwieldy vagaries of local authority and finding ways to execute on-time and within-budget project. In the meantime, homebuilders may apply SWOT analysis by focusing on firm’s strengths and weaknesses, minimising threats and taking the greatest possible advantage of opportunities. As a small business, good public relation (PR) inevitably contributes to a business growth. Successful PR can bring measurable results to a company’s bottom line and help achieve its business development goals. Concurrently, besides emphasising on good ethics and self-discipline, he also advises his peers to act swiftly in overcoming barriers and seizing the opportunities. For instance, strategically located land should be definitely acquired without hesitance, and the business enthusiasm must be frequently rejuvenated to maintain the firm performance.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Large-Scale and Public-Listed Housing Developers

Frontmatter

Chapter 13. I&P Group Sdn Berhad

Abstract
I&P Group Sdn Berhad is one of the reputable property developers in Malaysia. It is a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB) and was formed in May 2009 after the successful mergers and rationalisation exercise between three companies. Developing new townships has continuously been the company strength in the area of Klang Valley and Johor Bahru. Currently, the company is managed by Dato’ Ir Jamaludin Osman. Being trained as a professional civil engineer, his previous working experience strongly supports his excellence in handling the company. He pinpoints that housing developers should be self-centred and keep on learning new knowledge. Smart learning strategies with sensible plan will enhance the capabilities of the housing development firm. For example, he posits that marketing department should lead the product design as the team enjoys original idea, captured from the buyers. Apart from that, the housing entrepreneurs should regularly review trends so they would not miss out on new opportunities or become irrelevant with the marketing message. Large housing companies must keep hunting for new land banks and innovate the products extensively to vie with other leading conglomerates. Teamwork is an important element of company success, and grouping the employees together has advantages in building the ‘team’ attitude. Finally, he also alludes to few attributes such as location, quality, on-time delivery and value creation as the major selling points of his residential products.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 14. LBS Bina Group Berhad

Abstract
LBS Bina Group Berhad is a property development company listed in Bursa Malaysia, founded by Dato’ Seri Lim Bock Seng in the 1960s. His business journey was inherited by his son, Tan Sri Dato’ Lim Hock San who is an engineer by profession. An interview with this visionary Group Managing Director disclosed that the interest in charity work has consolidated the aim of LBS Bina to be a community and socially responsible developer. His incomparable leadership was verified after he managed to receive few outstanding entrepreneurial recognitions and awards from various authorised institutions. He delineates that in-house construction expertise, management and delivery will limit the reliance on third parties and subsequently enhance the control of cost. Other than that, exceptional business foresights, technical proficiency and immense management experience move in parallel to mould individuals into key leaders. He believes that successful housing developers take customer success seriously – listening to what customers want and innovating across its suite of products. A large development company needs a good handle on business finance to manage the cash flow throughout the life cycle of a project. Another interesting point highlighted by him is the need to build an amiable relationship with the media. Large property companies require coverage and exposure from the media to strengthen the positive image of the business. Admittedly, staff development is also crucial to business success as they are the number one support in effectively growing housing business and delivering excellence to the customers.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 15. Ken Holdings Berhad

Abstract
Ken Holdings Berhad is arguably the country’s most eco-friendly property developers. The company started in 1980 when Datuk Kenny Tan was just a contractor and an engineering service provider. At present, his son, Mr. Sam Tan, is the group managing director of this promising business entity. The unique about this company is its enormous aspiration on green technology, sustainability and ISO administration. The founder has embedded Japanese working principles throughout the organisation comprising hands-on and committed, work pride, innovativeness, teamwork and waste reduction. The implementation is not confined to the product design only, as it also transcends to the staff management and other administrative processes. Essentially, housing developers are the creative individuals who seem to always be looking ahead at what demand might exist in the future. Mr. Sam Tan attests that successful homebuilders push the envelope with exciting designs, new building materials and cutting-edge construction methods. KEN Damansara is one of their thriving projects with a good community and social development project where buyer-seller relationship still continues after sales. Marketing-wise, a number of e-marketing should be embraced through Facebook, Twitter, Instagram and others of the ilk to increase people’s awareness of the products. He also agrees to the extent that word-of-mouth recommendation may be regarded as an important marketing strategy to sell houses.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 16. Mah Sing Group Bhd

Abstract
Mah Sing Group Bhd used to be a major player in the plastics industry before the owner decided to make his foray into real estate in 1994. Inspired by his farther’s spirit, Tan Sri Dato’ Sri Leong Hoy Kum is presently one of the successful entrepreneurial figures in Malaysian property landscape. His strong interest in social obligation has pushed him to set up Mah Sing Foundation, a charitable trust that administers fund for community and national unity. Generally, he accentuates that prudent property developers must take calculated and measured risks along with visionary outlook and firmness in future undertakings. A combination of success factors encompassing correct type of products, sufficient funds, stimulating support from financial institutions and government as well as strong customer relationship were accordingly underlined. The business must be efficiently systematised for the customers to receive streamlined service. Those businesses that have a strategy in place to differentiate their product and service offerings are making huge profits. Concomitantly, he postulates that housing developers nowadays should champion quality and innovation as well as sustainable green living and timely delivery of their properties in order to give the property-buying crowd something to look forward to. In terms of achievement, this renowned organisation has fruitfully transformed many non-prime locations to the most sought-after property spots based on their investment on research and development.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 17. Titijaya Land Berhad

Abstract
Incorporated in 1997 by Tan Sri Dato’ Lim Soon Peng, Titijaya Land Bhd is now placed on par with the other renowned names in the property industry after it was listed on 27 November 2013. According to the founder, his success shall be attributed to the life hardships that he has endured along the way. Building holiday homes in the hill resort town of Fraser’s Hill in Pahang turned out to be his first gold mine as people started recommending him for more construction jobs. With the money he made, he began to set his eyes on property development. He opines that it is not necessary for large property developers to focus on massive developments. With economic turbulence lingering around the globe, housing developers may adopt small-scale development on areas with high accessibility and facilities. Phase-by-phase development is suitable as housing market nowadays is difficult to be predicted. He also encourages other entrepreneurs to imitate and follow the strides of developed nations in managing the business. Staff of the firm is akin to the citizens of the country that should be protected in terms of basic rights, welfare and other benefits. Their performance should be consistently supervised to boost the productivity. Any business hiccups should be overcome wisely and must be regarded as the motivator to success. In order to sustain the business into next generations, he also allows his children to make decisions and participate in handling the business.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 18. EUPE Corporation Berhad

Abstract
EUPE Corporation Berhad is currently led by Dato’ Beh Huck Lee as its managing director. His father, Datuk Paduka Beh Heng Seong, founded the company with Dato’ Wira Tajudin Hashim in 1986 as Eupe Kemajuan Sdn Bhd. This property development firm has been the proverbial giant fish in the northern state and developed the largest low-cost housing scheme in Kedah. During the interview, he shares his thought that private housing developers may consider to set up a contracting firm as an instrumental supplement to project success. In-house contractors and professionals can offer potential solutions as they also know how to tackle challenges and uncertainties within the business landscape. On a related note, homebuilders should also capture the long-term outlook, rather than seizing the short-term perspective. Buyers must be treated carefully, and the products should be of similar value with the price paid. He also underscores on the orientation value of people management which includes both customer and staff management. Real estate developers ought to recruit and train the best people to serve the clients in an effective way. The growth of human capital is imperative to be highlighted by the superiors as employees are the real asset of any business organisation. Competition with rival developers should always be fair and healthy to compel business into growth and ethical success. Above all, he also proposes other entrepreneurs to treat rivals as playmates, supporting each other in striving for success.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 19. Koperasi Tunas Muda Sungai Ara Berhad

Abstract
Koperasi Tunas Muda Sungai Ara Berhad (KTMSAB) is a solid model of successful housing cooperative in Malaysia and stands tall among other cooperative societies that have different business backgrounds. At the moment, Datuk Ir Mansor Musa is heading the organisation as the primary housing developers in Penang. From his personal perspective, the amicable relationship among board members of cooperative enterprise is deemed significant to the vicissitudes of business activities. Without doubt, having consistent good examples across the board can dramatically alter the landscape of the workplace. Collective skills among board members and employees will guarantee the excellence of cooperative society. On top of that, the welfare of cooperative members must be well conserved to refrain from institutional problems and failures. Leaders of housing cooperatives should know how to control the business and must have a friendly relationship with other members. Similar to other homebuilders, branding and land banks are essential to prosper in the housing development. A pleasant connection with local authority and other related government officials is also important to ease the process of development. The old adage ‘nothing ventured, nothing gained’ holds for every business that has the courage to take considered risks. To minimise the risks in a joint venture, he also discloses a secret practice of providing an upfront deposit for any collaboration. This approach is somewhat relevant and intelligent to be emulated by other real estate developers.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

State-Owned Enterprises/Government-Linked Companies

Frontmatter

Chapter 20. Darulaman Realty Sdn Bhd

Abstract
Darulaman Realty Sdn Bhd (DRSB) has eminently carved a prominent image as a township developer in Kedah. It is a wholly-owned subsidiary of Bina Darulaman Berhad, an investment holding company of Kedah State Development Corporation (PKNK). The most iconic project by DRSB is Bandar Darulaman, located in Jitra, and is regarded as one of the most established townships in Kedah. Interviewing the general manager, Mr. Zainudin Zainul discloses that ample land bank is the principal element to survive in real estate since DRSB involves in township development. The appointed managers to lead the parastatal organisation should be business-minded as their actions can affect the company performance. Industry knowledge is indispensable to be measured because intelligence in developing the housing projects is required in every stage of business. Housing developers should know how to solve problems, and they ought to understand that there is usually more than one solution to a problem. The dialogue also reveals that the success of housing developers relies on many factors such as strategic location, competitive price and quality assurance. In addition, staying vigilant towards environmental changes, controlling the finance and reviewing the viability of project at regular intervals are the main highlights by the respondent. Again, customers’ preferences and welfare must be frequently observed as the concept of houses is currently the trend among millennials. In that sense, defining a set of specific marketing goals based on the business objectives will be a perennial step to prosper in this competitive industry.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 21. Binaraya PKINK Sdn Bhd

Abstract
Standing as a subsidiary of Kelantan State Economic Development Corporation (PKINK), Binaraya PKINK Sdn Bhd is a major housing development firm that was incorporated in 1981 to serve and provide affordable homes for Kelantanese. The organisation is led by the General Manager (GM) and appointed by and serves at the pleasure of the Board of Directors through contract basis. At present, the GM is Mohamad Nasriff Daud, an experienced intrapreneur who adheres to the teachings of Islam. He outlines that owning massive land bank throughout the state offers extra advantage to the property developers. Homebuilding companies incline to increase or maintain a vast land bank which enables them to plan their business and to ensure a degree of continuity production. He also elucidates that housing developers should make a workable plan and have strong financial reserve to facilitate the development works whenever necessary. With no abandoned projects recorded, the organisation has established itself as an active and trusted name in the state, enjoys good branding and encounters very few problems to sell the houses. The success may be hinged upon the hard work of staff as they were assessed based on their performance. He personally mentions that instilling Islamic values will provide high productivity, good customer service and smooth interrelationship among members in order to confront the competitive and challenging business environment. Apparently, the correlation between religion and ethical behaviour is an important factor to enhance business performance.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Chapter 22. Perbadanan Kemajuan Negeri Selangor

Abstract
Touted as the largest state-owned enterprise in Malaysia, Perbadanan Kemajuan Negeri Selangor (PKNS) was instituted on 1 August 1964. Previously, PKNS’s name used to be synonymous with social housing, but it has now evolved into a mega builder that caters for medium- to high-end residential and commercial developments in Selangor. In February 2014, Azlan Md Alifiah has been elected as the sixth General Manager of PKNS to solidify and shift the corporate paradigm. He reckons that the most salient element of superior performance is associated with the customer retention. Establishing a specific team to deliver maintenance services and introducing a novel department of customer care seem to express the high commitment of this property developer to appreciate the needs of purchasers. The willingness to attend to various complaints from the buyers shows the unswerving dedication to serve the public. As a state corporation, giving back to the society through the provision of affordable homes is indeed mandatory, yet commendable. The aforementioned approaches prove that good name and reputation are absolutely influential to the success of property developers. On the other hand, PKNS’s strategic scheme called ‘zero-land bank strategy’ should be copied by other government-linked companies since the available land for development in inner city is getting scarcer. It will indirectly infuse recurring income if the framework is revised along with facility enrichment.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

Summary: Emerging Factors in Achieving Sustainable Competitive Advantage

Frontmatter

Chapter 23. Conclusion

Abstract
This final chapter provides a summary for the whole book content. First, it recapitulates and justifies the emerging themes of business success, that exclusive to Malaysian housing developers, comprising endogenous and exogenous factors. Subsequently, it unfolds the need for housing developers to strengthen their internal resources and capabilities while simultaneously pay major attention on external threats such as various rules and regulations on development matters, lending policy and taxes for their future success in this challenging industry. Next, the penultimate discussion offers some suggestions and recommendations to policymakers and industry players in order to ensure the upward progress of Malaysian real estate sector. Eventually, the authors also remind the property developers and other stakeholders to treat the industry with circumspect as the present business environment is exposed to high adversity and turbulences.
Mastura Jaafar, Azlan Raofuddin Nuruddin, Syed Putra Syed Abu Bakar

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