Tribute to founder’s grand vision
WORLD Chinese Lifetime Achievement Award (Properties Development) winner Dato' Seri Khor Teng Tong is a visionary who rose from humble beginnings to become a driving force in Penang's real estate scene.
The founder-cum-Executive Advisor of Hunza Properties Berhad started off in the fish trading business, later venturing into property development.
To date, he has overseen the construction of over 10,000 residential and commercial properties.
Receiving his award at the 9th World Chinese Economic Summit 2017 in Hong Kong in November, the 75-year-old Perak native said he was deeply honoured by the recognition.
“This award is a tribute to every member of Hunza Group, past and present – directors, management and staff – as well as my family. I thank all them," said Khor.
He was also named Property Man 2014 during the 22nd FIABCI Malaysia Property Awards in recognition of his contributions to the real estate sector.
He was conferred the Darjah Gemilang Pangkuan Negeri (DGPN) in 2014 and Darjah Setia Pangkuan Negeri (DSPN) in 1998.
Having helmed Hunza Group for nearly 40 years and turned it into one of the largest property developers in Malaysia, he continues to provide invaluable guidance as the company moves forward with continuous growth.
Rising to the top
Born in 1943 in a fishing village in Kuala Kurau, Perak, Khor has lived the life of an entrepreneur since his teenage years.
Armed with just education from Yu Chai Primary School, he set up his first business at the tender age of 16.
He was the sole proprietor of a fish trading company named Syarikat Soon Seng Fisheries, which flourished due to his innate business acumen and hard work.
The company (now known as Golden Frontier Berhad), which dealt in the processing and exporting of frozen seafood, was listed on the then Second Board of the Kuala Lumpur Stock Exchange.
This endeavour provided 3,000 job opportunities in Perak's Kerian District.
However by the mid-1970s, Khor decided to diversify his business further.
Armed with RM500,000, he moved his whole family to Penang, and soon bought his first piece of land, thus starting his foray into the property industry.
"Soon after that purchase, Malaysia faced a serious recession, which affected my business plans.
“It was the most challenging experience in my life and I had to streamline my core seafood business," he said of the 1980s economic slump.
That paved the way for the incorporation of Hunza Group of Companies in the mid-1990s, which became one of the first property development companies to be listed on the KLSE following the Asian financial crisis of 1997.
At the time of the listing in the year 2000, the group's net tangible assets were valued at only about RM80mil.
Following privatisation in 2016, and under Khor's shrewd stewardship, the group has grown many folds in value from the day of its inception. Property pioneer
Hunzas Group of Companies comprises two major holding companies – Hunza Consolidation Berhad (HCB) and Hunza Properties Berhad (HPB).
The former’s primary business comprises the manufacturing of corrugated paperboard and cartons along with exports of frozen seafood.
Khor was appointed the Executive Chairman of HCB which was listed on the Second Board of KLSE in 1997. Later in 2004, he was re-designated as a Non-Executive Director of HCB when he disposed off his major shareholdings in the company.
His sole focus is now on HPB which is primarily involved in the property and real estate industry. HPB was listed in 2000 when Khor was first appointed as NonIndependent and Non-Executive Chairman. He was later appointed Executive Chairman in 2002.
Under Khor in this new millennium, the group's property arm enjoyed a rising profile, further cementing its name in the industry. A main driver was its progressive upscaling from medium-end homes to high-end and valueadded residences.
It crafted an eclectic portfolio of diverse properties in various parts of Malaysia including Kuala Lumpur, Kedah and Penang, encompassing over 10,000 units of houses, medium-cost apartments, low-cost flats, shop houses, apartments and condominiums.
Another significant milestone was achieved in 2013 when Hunza Group successfully completed its first shopping mall, the landmark Gurney Paragon in Penang.
It is still owned and managed by the group, signifying its commitment to long-term real estate investment.
Other iconic projects completed include the luxurious condominiums Infinity, Alila and Alila2.
As the driving force of Hunza Group for decades, Khor has carved a solid reputation for delivering quality properties and upholding the Groups RIGHT core values of Reliability, Integrity, Greatness, Human Development and Teamwork, in all its business practices.
He has also successfully minimised the adverse impacts of economic slowdowns, ensuring planned and steady growth for the Group.
Khor relinquished his role as Executive Chairman in Nov 2013 when he announced his retirement. In 2016, he was appointed Executive Advisor of the Group, which is now led by his son Dato' Khor Siang Gin, the Managing Director.
About the award
The World Chinese Economic Summit Lifetime Achievement Award was established in 2011 to honor individuals who have made significant contributions in their respective fields of work.
It not only recognises recipients who have demonstrated a lifetime commitment to make a difference, but also those who have provided outstanding contributions to the regional and global community. It also honours them for their selfless service and innovative leadership.
For the past eight years, this premier international summit has brought together over 5,000 government and business leaders.
It provided a platform on which many business deals and initiatives were forged, resulting in the signing of numerous MOUs and joint venture agreements.