KUALA LUMPUR: Malaysia’s leading property developers were feted at The Edge Property Excellence Awards 2010 on Thursday, Oct 7. The Awards comprise The Edge Top Property Developers Awards 2010 (TPDA) and two new industry awards namely The Edge-PEPS Value Creation Excellence Award and The Edge-PAM Green Excellence Award.
Developers that made it to the Top 10 of the TPDA ranking this year are, in alphabetical order, Bandar Raya Developments Bhd, IGB Corporation Bhd, I&P Group Sdn Bhd, IJM Land Bhd, IOI Properties Bhd, Mah Sing Group Bhd, S P Setia Bhd, Sime Darby Property Bhd, Sunrise Bhd and Sunway City Bhd.
I&P Group Sdn Bhd’s Bandar Kinrara development in Puchong (residential category) and Encorp Bhd’s Encorp Strand development (non-residential category) in Kota Damansara emerged winners of the inaugural The Edge-PEPS Value Creation Excellence Awards 2010.
The award is jointly launched by The Edge and the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) and is given to the property developer whose properties have the highest capital appreciation.
Meanwhile, Ken Holdings Bhd won The Edge-PAM Green Excellence Award with its Ken Bangsar development.
Jointly launched by The Edge and the Malaysian Institute of Architects (PAM), the award recognises property developments that demonstrate sustainable design innovation that is above the industry standard while contributing positively to the community.
As the anchor award to The Edge Property Excellence Awards, the TPDA established in 2003 ranks the country’s best property players from the consumer’s perspective for their quantitative and qualitative attributes.The “quantitative” elements were the companies’ shareholders’ funds, revenue, pre-tax profit and net gearing for the fiscal year ended 2009.
The “qualitative” attributes include the quality of the product, innovation and creativity, value creation for buyers, image and expertise. Deloitte Malaysia audited the tabulation of both the quantitative and qualitative results.
All companies listed in the property sector of Bursa Malaysia were automatically considered for the ranking while submissions were called from non-listed companies.
The Edge Communications Sdn Bhd managing director Tan Boon Kean said the addition of the two new awards would enhance the main awards (TPDA) that recognises the best developers for their work and performance.
Guest-of-honour Housing and Local Government Minister Datuk Wira Chor Chee Heung presented the award certificates to the captains of the award-winning companies.
In his speech, the minister said he was confident this competition, seen as a driving force to create a good benchmark for top property developers in the country, will remain a driving force for the housing industry to remain competitive.
The minister reckons that the green excellence award is in line with government’s initiative to promote green technology as a new driver for the country’s economic growth.
“Green technology offers enormous opportunities and potential in economic regeneration, innovation and wealth creation. The government will also review incentives for buildings and designs that are environmentally friendly, incorporating green design elements like solar panels for heating, rain water harvesting facilities and water conservation features,” he said.
A seven-person panel of judges comprising distinguished names in the global and local property development arena adjudged the qualitative components of the TPDA ranking.
The panel members are Datuk Alan Tong Kok Mau, the past world president for FIABCI; Datuk Eddy Chen Lok Loi; Datuk Jeffrey Ng Tiong Lip; Kumar Tharmalingam; Datuk Richard Fong, president of FIABCI Malaysia and Datuk Teo Chiang Kok. The seventh panel member is The Edge Malaysia’s executive editor of property and retailing Au Foong Yee.
The Edge-PEPS Value Creation Excellence Award 2010 judges were PEPS president Choy Yue Kwong, PEPS committee member Foo Gee Jen, immediate past president of PEPS James Wong, The Edge’s Au and The Edge City & Country deputy editor Sharon Kam.
The five judges for the The Edge-PAM Green Excellence Award 2010 were Malaysian Institute of Architects (PAM) president Boon Che Wee, Association of Consulting Engineers Malaysia president Wong Loo Min, Malaysia Green Building Confederation honorary secretary Chan Seong Aun, The Edge deputy managing director Lim Shiew Yuin and Au.
Full details of the ranking will be published in the Oct 11 issue of The Edge weekly and The Edge Financial Daily.
This article appeared on the Property page, The Edge Financial Daily, October 8, 2010.