This article first appeared in City & Country, The Edge Malaysia Weekly on December 20, 2021 - December 26, 2021

F D Iskandar, group managing director and CEO of Glomac Bhd and patron of the Real Estate & Housing Developers’ Association (Rehda) Malaysia, has three decades of experience in the property development industry. He sits on the boards of several private limited companies, including Axis REIT Managers Bhd, and is the immediate past chairman of the Construction Research Institute of Malaysia.

(Note: He abstained from judging Glomac Bhd)

We live in a very trying, unprecedented time of a pandemic. I have been in this business for over 30 years and have never seen anything like this. Yet, it is heartening to see that most property developers have adapted to the new normal and have proven themselves to be resilient in the face of adversity.

I hope this friendly competition will push developers to better themselves and give purchasers better homes. Congratulations to UOA Development for taking the No 1 spot for the first time, and all the winners!

He is the current president of Rehda Malaysia. He was managing director and CEO of IJM Land Bhd from 2004 to 2015 and managing director and CEO of IJM Corp Bhd from 2015 to 2019. He has experience in the property development, investment and construction business in China, Vietnam, India and the UK.

Soam is a board member of the Construction Industry Development Board Malaysia, director of Construction Labour Exchange Centre Bhd and an independent non-executive director of Sime Darby Property Bhd. He is also chairman of the Construction Research Institute of Malaysia.

(Note: He abstained from judging Sime Darby Property Bhd and IJM Land Bhd)

The ranking of the top three property developers this year is a reflection of how the Covid-19 pandemic has caused changes to the quantitative attributes of some companies. I would like to congratulate UOA Development for clinching the top spot for the first time.

We also witnessed the entry of two new members — Matrix Concepts and OSK Holdings — in the Top 10. This would certainly motivate the rest to work harder to improve their positions. Those with a long-term sustainable plan will remain longer as top developers. Given that the focus among stakeholders, going forward, will be on the environmental, social and corporate governance (ESG) agenda, developers that shift to quickly embrace and walk the talk in these areas will solidify their position at the top.

Congratulations to all the winners and those who have improved their positions.

The past president of Fiabci Malaysia and board member of Fiabci International is a Fellow of the Royal Institution of Chartered Surveyors, Fellow of the Institution of Surveyors Malaysia and a registered real estate valuer and property consultant with the Board of Valuers, Appraisers and Estate Agents, Malaysia. He has been in the real estate industry for more than 35 years.

From 2010 to 2013, he was CEO of Malaysia Property Inc and an executive director of Sunway Bhd. In 2016, he was appointed an independent director at Public Islamic Bank. He is currently the senior adviser to AREA Management Sdn Bhd, a private equity fund that develops gated industrial projects in Malaysia.

IGB dropped out this year, but the company is not building on the scale it used to. The rest of the developers are the usual quality we have come to expect in our premium Top 10 rank of developers. UOA Development has come a long way and deserves the No 1 spot in our Top 10 this year.

It will get more challenging as housing needs are changing and the usual three-up and two-down housing goes out of fashion. The needs of smaller families are different, and they are more mobile.

He is a patron and past president of Rehda Malaysia and a trustee of the Rehda Institute. He was also president of Fiabci Malaysia. He is the current president of the Malaysia Shopping Malls Association and Building Management Association of Malaysia.

Teo is a director of the See Hoy Chan Holdings Group in Malaysia. He has been involved in the property development industry for 48 years and has developed some 30,000 homes and over 20 million sq ft of commercial properties.

Congratulations on the spectacular entry of Matrix Concepts at No 9 and OSK Holdings at No 10 — both deserve to be recognised. Congratulations to UOA Development for reaching the No 1 spot, another well-deserved winner.

The Covid-19 pandemic has impacted all players, although perhaps in varying degrees. But it has also opened opportunities for those who have been progressing steadily in their rankings toward the coveted Top 10 list.

Again, it is evident that the timing of launches and completion of phases have had a significant impact on the performance during the year. The need for an efficient and expeditious approval process is paramount for developers to time their launches and sales in an up cycle. Any inordinate delay in the approval process can be detrimental to the viability of an otherwise successful project.

He is the most recent past president and patron of Rehda Malaysia. He is chairman of InvestKL Corp, Malaysia Airports (Niaga) Sdn Bhd, KL Airport Hotel Sdn Bhd, Mercure Kuala Lumpur Glenmarie and Triterra Sdn Bhd. He is also senior independent director of Malaysia Airports Holdings Bhd and Paramount Corp Bhd, and until recently an independent director of two other large public-listed companies and a global bank in Malaysia.

Yam is actively involved in advocacy, education and NGO activities. He is global senior vice-president of the Chartered Institute of Building, a trustee of Standard Chartered Foundation and Rehda Institute, a guest lecturer at Universiti Tunku Abdul Rahman and an adjunct professor at Universiti Teknologi Malaysia. In August 2021, he was appointed chancellor of University of Wollongong Malaysia KDU.

(Note: He abstained from judging Paramount Corp Bhd )

It is a pleasant surprise that despite the almost two years of ‘pandemic fatigue’ and recessionary conditions of the economy, property companies are still keenly interested in The Edge Malaysia Property Excellence Awards (TEPEA) 2021. Faced with the challenges of multiple lockdowns, which have caused numerous work delays, the inability to launch effective sales and marketing campaigns, the closure of showrooms that resulted in weak cash flow and low profitability, TEPEA still received hardcopy submissions, albeit fewer in quantity and scale this year.

This is a strong testament to the significance of TEPEA as a credible benchmark within the real estate fraternity — a good ranking is brand recognition for the company, especially in the aspects of quality and prudent balance sheet management. It is worth noting that those in the top 20 are very much the same crop of contenders as in previous years, testifying to the desire of these companies to defend their position and standing in this prestigious competition. Nevertheless, this year there has been a significant change in the No 1 position — the perennial winners have been knocked off their perch by UOA Development. This may be attributable to UOA’s strong balance sheet overwhelming the usual leading contenders, whose financials may have been adversely affected by the pandemic. Congratulations to UOA Development for coming out on top for the first time since the competition started, and compliments to all the other top-ranked players who managed to maintain their high standing.

Patron and past president of Rehda Malaysia, Ng has more than 35 years of experience in finance, corporate planning and executive management in the property and hotel industries in Malaysia and Australia. He is the immediate past chairman of Malaysian REIT Managers Association. He is a member of the Malaysian Institute of Certified Public Accountants and a Fellow of Chartered Accountants, Australia and New Zealand. He is also a member of the Appeals Board under the Federal Territory (Planning) Act 1982, and holds a capital markets services representative’s licence from the Securities Commission Malaysia.

He is CEO of Sunway REIT Management Sdn Bhd and chairman of Rehda Institute. He is also chairman of United Overseas Bank (M) Bhd and a director of Urban Hallmark Properties Sdn Bhd .

(Note: He abstained from judging Sunway Bhd)

Heartiest congratulations to UOA Development for the winning the No 1 spot for the first time. It is never easy to achieve this coveted recognition but it is certainly worth working hard and smart to reach this milestone. It is good to see Matrix Concepts and OSK Holdings join the elite Top 10 developers, also for the first time, especially in a year when the going got tough and the tough got going.

The property market in both 2020 and year to date in 2021 was extraordinarily difficult due to the Covid-19 pandemic. It is therefore commendable that the other Top 10 winners have retained their status in this year’s awards. Top developers who display confidence and resilience, coupled with good management skills and financial strength, will continue to stand out from the pack, from the perspective of consumers and TEPEA 2021 judges.

I am convinced that all developers who can ride out this ‘Mother of all economic downturns’ will be able to grow stronger and soar to new heights in the years to come. Fortunately for all of us, the interest rate regime has remained at a historic low, and it is a proven enabler to sustain long-term demand for residential properties.

He is group managing director of MKH Bhd and former chairman of Perbadanan PR1MA Malaysia. A patron and past president of Rehda Malaysia, he served on its national council for the 2016 to 2018 term. Chen is currently on the Board of Advisers for the Malaysia Shopping Malls Association (2018 to 2022). He is the past president of the Building Management Association of Malaysia (2014 to 2018) and past chairman of the construction, property and infrastructure committee of the Associated Chinese Chambers of Commerce and Industry of Malaysia.  

(Note: He abstained from judging MKH Bhd)

Again, my heartiest congratulations to The Edge Malaysia for holding TEPEA 2021 despite the challenging economic conditions. Congratulations also to the Top 10 property developers, which have shown great resilience despite the tough market situation.

Just as we thought the worst was behind us, the more contagious but seemingly mild Omicron variant has emerged, which has rattled the markets. The Evergrande saga in China, too, will have a bearing on the global housing market. It used to be said that “when the US sneezes, the world catches a cold”, and now China is having the same effect.

At time of writing, Bursa Malaysia had dropped below the 1,500-point mark and this, too, will have a bearing on the property market for big-ticket items such as houses. From now until the end of 2022/23, the election season will have a significant impact on the economy. It is possible that investors may hold back as they wait for a clearer political direction. Will 2022 be a better year for housing? Clearly, the jury is still out. Nonetheless, life must go on. ‘Publish or perish’ also applies to the property development sector.

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