Datuk Jeffrey Ng, Chairman, Malaysian REIT, Managers Association
Ng has more than 30 years of experience in finance, corporate planning and executive management in the property and hotel industry in Malaysia and Australia. He is also the CEO of Sunway REIT Management Sdn Bhd (manager for Sunway REIT), chairman of the Real Estate Housing Developers’ Association (Rehda), non-executive director of United Overseas Bank (Malaysia) Bhd and director of Urban Hallmark Properties Sdn Bhd.
TheEdgeProperty.com Malaysia’s Best Managed Property Awards 2017 is a very commendable and timely initiative by TheEdgeProperty.com to recognise excellence in property management. The property market today still suffers the notion of “First-class buildings with third world maintenance mentality”. There is an urgent need to holistically address the tidak apa maintenance attitude. I sincerely hope that this Awards will be one of the catalysts to bring all stakeholders a step closer in the right direction in terms of improvement in property management standards.
The number of submissions received for this inaugural Awards was far beyond my expectation. However, the quality and standard of submissions to meet the evaluation criteria were varied ranging from basic to comprehensive. It is my belief that owners, property developers, property managers and other stakeholders will be more geared, inspired and captivated by such awards of excellence.
This will inevitably elevate the property management standards in the country to reach higher and more professional levels in the future. Accordingly, well-managed properties should deliver more customer satisfaction as well as enjoy better capital appreciation growth in the long term.
Congratulations to all the well-deserving awardees for the efforts to showcase their skills and capabilities. Yes, “First-class buildings with world-class maintenance attitude” can be attained over time.
Professor Ting Kien Hwa, Vice-president, The Malaysian Institute of Professional Property Managers (MIPPM)
Prof Ting is a professor in property investment of Universiti Teknologi MARA and a visiting professor in real estate investment of University of Reading Malaysia, Johor Bahru. He is active in the Royal Institution of Chartered Surveyors Malaysia branch, National Property Research Expert Panel (NAPREC of INSPEN), International Property Measurement Standards of World Bank and the International Land Measurement Standards of FAO-UN.
There are currently many different types of property awards. But TheEdgeProperty.com Malaysia’s Best Managed Property Awards is unique as it focuses on the best managed properties. This Awards fills the missing gap in the many awards that focus on the pre-development, development and investment stages of real estate.
Completed buildings will remain for decades and property management is the bedrock of the property industry. A poorly-managed and maintained real estate will deteriorate rapidly, destroying all the efforts put into the design and construction of the property.
Property management has traditionally been the Cinderella of the property industry. The property management team often work behind the scenes in an efficient and cost-effective manner.
This new Awards is not only a measure of property management success but the pinnacle of achievement for property managers and the property management firms who have demonstrated excellent management expertise, industry experience, local market knowledge, integrity and ethics. Sound technical knowledge and capabilities are not sufficient — they also have to have good working relationships with the management bodies as well as support from the tenants and owner-residents of a building.
With more high-rise and stratified buildings and properties coming into the Malaysian property market, TheEdgeProperty.com Awards puts into focus the need for professional property management.
The inaugural winners are very deserving as they reflect the best practices of property management in Malaysia. I am also truly impressed with the standards and quality of the submissions. Visiting the buildings and meeting with the management bodies/residents have provided additional insights into the challenges of managing different types of strata properties.
I have no doubt that the Awards has provided the foundation for the recognition of successfully managed properties. The Awards, I believe, will continually do so in the years to come.
With the recognition, I am sure the winners and indeed the entire property management fraternity will be further motivated to excel in the management of properties in Malaysia.
Dr Suntoro Tjoe, Member, The Building Management Association of Malaysia
Dr Tjoe is the managing director of Meadow Facilities Sdn Bhd that provides integrated property and facility management services. The company presently manages assets worth more than RM3 billion in Malaysia. Prior to this, he was an associate director of a leading international property consultation firm in Bangkok where he gained most of his experience in facility and property management in the Southeast Asian region. He has more than 30 years of experience in the field.
TheEdgeProperty.com Malaysia’s Best Managed Property Awards 2017 has certainly excited the property management industry in Malaysia.
Property management is a “second-class” industry and it is an unwanted and unglamorous profession in Malaysia. The Awards definitely brings the industry to light and gives due exposure and recognition to the profession, which is ultimately needed for the fast growing property development market in the country.
It is hoped that the Awards will be the eye-opener to all property development players in the market and make property management an integral part of the property development life cycle.
The Awards is the first of its kind in Malaysia and certainly sets a new standard for the property management industry in the country. Hence, the Awards must continue for many years to come.
The maiden Awards’ winners are truly best managed properties in the country in their respective categories.
Although the entries for the Awards were dominated by the big boys, more property managers are encouraged to participate in the coming years. It is a showcase of property managers’ talents and passion for the profession.
Dr Lim Lan Yuan, President, The Association of Property and Facility Managers, Singapore
Dr Lim has many years of experience in the real estate and construction field. A tribunal member of the Strata
Titles Boards in Singapore, Dr Lim also chairs the technical committee responsible for the development of building maintenance standards.
I would like to congratulate Foong Yee and her colleagues from TheEdgeProperty.com for coming up with this inaugural Malaysia’s Best Managed Property Awards. For the longest time, developers and owners have not given much attention to the impact of design and construction on future maintenance. The focus of the Awards on how buildings are maintained and managed is to be applauded. This Awards would encourage more people to better understand the importance of a well-managed and maintained property in sustaining values and quality.
The quality of the projects in this year’s Awards ranges from good to excellent. The better ones are able to display good management in terms of building performance and maintenance, financial control, operating procedures, compliance with the law, innovation and kerb appeal. The management standards of the top winners of this Awards are comparable to those internationally. The winners clearly deserve the accolades given to them.
Chris Tan, Managing partner, Chur Associates
Tan is a lawyer, founder and managing partner of Chur Associates. He is also a regular guest speaker for both corporate and public events, guest commentator at radio stations and a frequent contributor for local and overseas publications on real estate.
Kudos to TheEdgeProperty.com Malaysia for recognising the trend in incubating and elevating the standard of property management in Malaysia. This is a progressive initiative as Malaysia is in her last lap towards the developed nation status. We have world-class buildings in Malaysia and these buildings need to be well-managed for long-term sustainability. Properties need to be progressively managed in order for their values to be preserved and enhanced. I am confident this unique Awards shall be an important landmark in the history of real estate in Malaysia.
I am very encouraged by the number of submissions received this year notwithstanding the short notice and this being the inaugural edition of the Awards. The winners are all worthy within the requirements set and represent the best in class submission. It’s a great learning process for everyone, the nominees, the judges and the organiser.
Personally, I am very impressed by the shortlisted nominees in their efforts to host the judges for the site visits given the rare recognition ever given to property management. Everyone is a winner from the moment the decision was made to participate in this Awards.
Wong King Wai, Deputy editor, City & Country, The Edge Malaysia
Wong is the deputy editor of City & Country, the property pullout of The Edge Malaysia. He has been with this property pullout of The Edge for over eight years.
The Awards recognises the unsung heroes of the property industry — the property managers, who spend many hours behind the scenes to ensure a property is managed properly and well maintained so that tenants or residents have nothing to worry about.
Moreover, their activity also helps in maintaining the value of the properties, which we know should appreciate over time. But if the property is badly managed then values will be affected. Hopefully this Awards will encourage property managers to continue the good work they do.
The winners are deserving; their efforts in managing a property are commendable. The quality of entries varied but this being the first year of the Awards, I believe the quality will only get better.
Au Foong Yee, Managing director and editor-in-chief, TheEdgeProperty.com
Au is a pioneer of The Edge Malaysia. The founding editor of City & Country (property pullout of The Edge) and Haven (bi-monthly interior design magazine published by The Edge Malaysia), she conceptionalised The Edge Malaysia Top Property Developers Awards, The Edge Malaysia Property Excellence Awards and Haven My Dream Home Contest. Au was also The Edge Malaysia’s chief marketing officer and then managing director before she was tasked with helming TheEdgeProperty.com.
If there must be just one takeaway from the judging process of the Awards, it would be the passion and commitment displayed by both owners and managers of the winning buildings/projects.
The strong rapport is more apparent in the residential category where owners clearly work very closely with their respective property managers. Very hands-on, these owners do not believe in leaving the fate of their property entirely to property managers.
This helps to explain why some of the older buildings won while other newly-built buildings lost out.
Whether or not a building has been designed and built to facilitate quality property management also matters.
On a different note, all owners and property managers who put in submissions for the Awards must be congratulated. The fact that you have offered your respective building/project to be scrutinised resonates with TheEdgeProperty.com’s quest to raise the bar on property management in Malaysia.
Syabas to the winners. To the rest, we look forward to your submissions again next year.
The judging criteria
TheEdgeProperty.com Malaysia’s Best Managed Property Awards 2017 aims to recognise buildings with excellence in property management. The inaugural awards received more than 50 submissions. The call for entries began on Nov 18, 2016 and closed on Jan 23, 2017. Submissions could also be made online via www.theedgeproperty.com.
Submissions are open to:
1. Any strata and non-strata buildings in Malaysia, managed either in-house or by any property manager
2. The entries may be property of any size and type in Malaysia
3. The property must be fully completed and have received its Certificate of Completion and Compliance (CCC) or Certificate of Fitness of Occupation (CFO).
4. The property must fully comply with statutory requirements (ie renewed licences, permits, approvals)
There are seven (7) main judging criteria:
a. Quality of M&E and building
b. Cleanliness and upkeep of facilities
a. Working committee procedures
b. Transparency of accounts
a. Debtor aging / Billing /
b. Proportion of debtors
c. Collection procedures —
notifications, reminders, warning
4. Financial sustainability
a. Adherence to budget
b. Cost optimisation initiatives and
innovations (eg energy saving
measures (eg LED bulbs, sensors),
a. Use of technology (CCTV)
b. Proactive measures to enhance
6. Community and communication
a. Community building initiatives
b. Procedures for tenant or occupant
liaison (includes booking for
facilities) and dispute resolution
7. Development value / yield
a. Comparative growth in value
b. Comparative rental yield
Projects submitted were shortlisted based on the above criteria. The judges then made site visits to the shortlisted projects before the final decisions were made. The winning projects were announced and honoured at an awards ceremony on April 3, 2017. Details of the winners and the awards dinner were published in TheEdgeProperty.com pullout and online at www.theedgeproperty.com.
This story first appeared in TheEdgeProperty.com pullout on April 7, 2017. Download TheEdgeProperty.com pullout here for free.
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