Daring to dream
MALAYSIA has seen many changes since achieving its independence in 1957. Be it good or bad, it’s the lessons that we learn from these experiences that mould us into who we are today – and who we eventually become.
Property developer Mah Sing Group Bhd is no stranger to changes, having undergone its fair share of “defining moments”.
“Every milestone we’ve achieved has led us to who we are today,” says group managing director Tan Sri Leong Hoy Kum.
This month, as the country celebrates 61 years of independence, Leong, who was born in August and turns 61, reflects on what “Merdeka” means to him.
“From an entrepreneur’s perspective, I perceive Merdeka as freedom for the country, as well as an open door to seek opportunities not just locally, but internationally as well.
“Malaysia is a country that encourages business opportunities, be it for small, medium or big organisations.”
Humble beginnings
A global brand today, Mah Sing actually started out as a tiny plastic manufacturer.
“My late father started Mah Sing as a humble plastic trading company. Being a typical Chinese businessman in the 1970s, he was reluctant to expand the business.”
All of that changed when Leong, who was still schooling, joined the company.
The young entrepreneur was still in Form Six at the time. He would dedicate the first half of the day to studying; while the remainder of the day was focused on managing the business.
“When I joined the company, I had a vision to become an original equipment manufacturer (OEM). It was a big expansion leap and I had to convince my father to agree with the idea of expansion.
“In 1982, I took the lead to spearhead the company and transformed Mah Sing into a manufacturer.”
One of the first things Leong did when he took the helm was introduce a new company logo, to reflect the company’s new direction.
In 1992, the company would be listed as a plastic manufacturer on the local bourse. At the time, it was one of the largest plastic OEM around with factories in Malaysia and Indonesia.
However, the company was struggling to grow its profit margins.
“We were facing thinning margins and in a bid to protect my shareholders’ value, I knew I had to forge a new path for Mah Sing.
“At that point in time, I had very strong interests in property investment and I felt that this vibrant sector could provide the next momentum of growth for the company,” he says.
In 1994, Mah Sing ventured into property development.
“The transition from plastic manufacturing to property development was a steep learning curve for us. The main challenge then and now was to carve out a niche in a crowded market place.
“The competition among the property developers here in Malaysia is very high, and that is a good thing! It is through healthy competition that we will be able to push ourselves to be better at what we do and in turn will help Mah Sing grow as a company,” Leong says.
During the initial years, Mah Sing codeveloped projects via joint ventures, due to insufficient funding.
Leong considers the period between 1994 and 2000 as a time of learning, and it was during this time that he would learn to hone his craft.
In 2000, the group started its maiden township development, Sri Pulai Perdana in Skudai, Johor, where it introduced the concept of gated and guarded living for link homes.
In 2004, Mah Sing started to turn its attention to the Klang Valley and focused on the medium upper to high end markets with projects such as Damansara Legenda.
Then, in 2007, the property developer entered the Penang market and launched Southbay City. The company also ventured into its first commercial project with The Icon, Jalan Tun Razak – the first of its “Mah Sing Iconic Series”.
Despite the design challenges of a narrow land frontage, Leong considers the development a gem. Its curvilinear facade makes it stand out from its surroundings. In fact, it was also the first en bloc sale of a commercial property in Malaysia.
“Mah Sing first acquired the land for Icon Tun Razak in 2006 when the property market was going through an upturn, and we are proud to say that the 20storey Grade A office was Malaysia’s first en bloc sale of a commercial property.
Following the success of Icon Tun Razak, Mah Sing expanded the Iconic Series with Icon Residence in Mont Kiara, Icon City in Petaling Jaya and M City in Jalan Ampang, says Leong.
“We are very pleased to share that our Iconic Series is fast becoming local landmarks in their respective areas. These projects have also seen excellent takeup. Our Iconic Series also acquired prestige positions due to Mah Sing’s track record of delivering completed projects of exceptional quality.”
The company continued to expand across the Klang Valley with projects such as Icon City in Petaling Jaya, M Residence in Rawang and Southville City in Bangi. It also ventured into Sabah in 2012 with Sutera Avenue in Kota Kinabalu.
To date, Mah Sing has 47 projects throughout Malaysia’s property hotspots, namely the Klang Valley, Johor, Penang and Sabah.
“I am proud that over 24 years in the property development industry, Mah Sing is now one of the few fully integrated developers with residential, commercial and industrial developments.
“Today, the group is one of the most recognised property players in Malaysia. It is among the top three developers when it comes to local property sales,” Leong says.
An everlasting brand
With nearly three decades of experience in the property sector, Leong is consistently finding ways to grow the business and stay ahead of the competition.
“In Mah Sing, we are constantly learning and exploring and we believe that changing to suit the market needs, keeps the brand going all this time.
“Though we aim to be Malaysia’s leading developer for affordable homes, we do not compromise on quality of our products.”
Other than developing quality affordable homes, Mah Sing also focuses on quality of delivery and enhancement of customer experience, says Leong.
“Hence, we are taking the initiatives to include technology in our business to suit the majority of our buyers at the age range of below 40 years old.
“This year in April, we launched the My Mah Sing App and Digital Vacant Possession for the convenience of buyers throughout their journey – from their home purchase selection until they become our home owners.”
Leong emphasises that the quality and deliverability of a product also plays an important role in attaining success, as quality is delivering a project that will at least meet and preferably exceed the client’s expectations through actions and deliverability that create a really excellent product.
“Developing an effective team in your organisation is also important, as dedicated people will motivate one another to achieve the goals together.”
For those inspired to follow in his footsteps, Leong has this advice: “Dare to dream.”
“Dare to dream and pursue your dream. You need to have a passion for business and success. I believe passion is what drives you and keeps you going, despite the difficulties that your business will inevitably face.”