This article first appeared in City & Country, The Edge Malaysia Weekly on September 13, 2021 - September 19, 2021

Ken Holdings Bhd executive chairman 

It all began in 1980, with my humble beginnings as a specialist engineer. From there, I ventured into civil and building works, followed by property development, land reclamation and dredging works. And now, we focus on property development and are pioneers in green buildings and sustainable developments in the country. In light of the pandemic, we have learnt to be resilient by redirecting our workforce and pivoting to agriculture, and are utilising our engineering knowledge for agriculture.

For budding entrepreneurs, my advice would be to be honest: keep your promises because your word is your bond. It’s not worth tarnishing your reputation by deceiving others. You should also have a strong determination to succeed by putting in hard work and being hands-on, which I am a firm advocate of.

This year marks the country’s 58th Malaysia Day. Being a multiracial country, we are rich in culture and arts. I reflect on my younger days when there were not many issues involving race and religion, when people lived together in harmony. That is what I look forward to seeing — Malaysia being steered towards being a developed country, while bringing back harmony among its citizens.

Glomac Bhd group executive chairman 

and group executive vice-chairman 

For those who want to be entrepreneurs, Tan Sri FD Mansor says, “My advice is that you must have an uncompromising belief and a burning desire, with plenty of passion for what you do. Most of all, you need to focus on the short term, yet train your sights on the long term and deliver sustainable success and strong performance year in, year out.”

“It’s a marathon with breaks of fast sprints, and a lot of patience, perseverance and sacrifice from all involved, including family, friends and business associates and business partners.

“Today, in the midst of this pandemic of unprecedented proportions, we are entering uncharted territory, something no one in this world or in their lifetime has ever encountered before. To remain competitive and to sustain any business now, I feel that innovation, coupled with technology, is the key to success. This will shape the future of any business.”

He shares this anecdote on the inception of Glomac Bhd: “My father was a landowner, something he inherited from his forefathers, so you can say I had an early start when it comes to land. Land is money, but land alone is of no use if there is no vision; and vision must be complemented by a mission to translate it into action.

“I started this company with my partner, Datuk Richard Fong, in the late 1980s. We met in the early 1980s when I was the personnel and management director of Utusan Melayu and Richard was the business development manager at IJM Corp. We shared the same dreams, and I recall how we spent countless nights at roadside teh tarik stalls going through proposal after proposal, to start our own project, until at one time, we both got diarrhoea.

“Our partnership has withstood the test of time and also several economic crises, and we’re grateful that today we’re still doing what we love, just like we did many years ago. And of course, my son joined the team in 1991, and we now share our wisdom with him as the group managing director/CEO.”

Fong recalls, “Our first project launch was in 1988, a joint venture between Glomac and the Selangor state government. It was to develop a 60-acre piece of land in Sungai Tua, Batu Caves, a programme under the Selangor government to build low-cost houses to help stimulate the economy. We built 20ft by 50ft houses that were sold at RM25,000. We were so excited about this because Tan Sri had just resigned from Utusan and I had resigned from IJM Corp.

“Although we had no experience, we were very confident that we could complete the project due to the combination of Tan Sri’s good relations with the state government and my experience (of the past 10 years) with IJM Corp. Two years after the launch, we were so proud to hand over the completed homes to buyers.

“Even before this project was completed, Tan Sri and I had already started looking to secure more land to be developed. Luckily, we managed to secure an eight-acre piece of land in Section 16 in Petaling Jaya, where we developed a high-end condominium called Prima 16.

“In life, you are always given opportunities to succeed. You must be able to recognise them and be brave enough to take the opportunity when it comes because it could be a life-changing moment. It is 90% hard work and 10% luck,” says Fong.

In conjunction with Malaysia Day, both FD Mansor and Fong are hopeful for Malaysia to bounce back. “We wish that Malaysia will emerge from the current pandemic and very difficult time stronger, wiser, better. It has been heartbreaking to see people losing their loved ones and their jobs, source of income and financial independence.

“As a nation, we need to come together, set aside our political and ideological differences and focus on rebuilding the economy, lives and communities, and strengthening our resolve to face the future together. This is unlike any battle we have faced before, and we need to overcome it as a nation, however painful and long it takes.”

i-Bhd chairman 

As an entrepreneur for more than 40 years, having a clear and concise vision as well as patience is a virtue. The difficulty I faced in the early years has taught me some profound lessons about not giving up when the going gets tough. Nothing is impossible if you set a clear vision, like how I was the first Malaysian entrepreneur to invest in China in the 1980s and being the first to introduce spring mattresses in Malaysia that ‘revolutionised’ the local bedding market and the sleeping habits of Malaysians. This has now extended to developing i-City as Malaysia’s first technology city. Do not be discouraged but accept the challenges as part of your growth.

My advice to young Malaysians is that you have to be diligent, passionate and honest to do well and be successful. There is no substitute for integrity. If you are honest and hardworking, you will find success. Luck sometimes helps, but luck is only an accelerator. If you are not diligent or have no passion in what you do, you will not recognise the lucky breaks when they come.

I would also encourage youngsters to take full advantage of technology. In the modern era, technology has become even more essential for business opportunities and continuity locally and globally, especially in this challenging pandemic. Furthermore, with the transitioning from the fourth industrial revolution to the fifth, it’s now the turn of artificial intelligence and smart technology to head the next phase of global innovation.

My philosophies in life include holding on to values like responsibility and transparency. I also believe in mutual benefits on a ‘win-win’ basis with whomever I interact or come across. Incidentally, these are traits that have made me more of an entrepreneur than just a businessman.

i-City has come a long way since it was first envisaged to be the first technology city in Malaysia, in adding another dimension to what is customarily offered by the Malaysian property development industry. In the beginning, there were plenty of naysayers and the biggest challenge then was to come up with an intact concept for i-City. The ‘smart city’ concept seemed to be more of an aspirational term than a reality, although many cities are making quick progress in deploying cutting-edge information systems.

Over the years, the flagship ultrapolis development has been gradually taking shape, with a gross development value of RM10 billion today compared to RM1.5 billion when it first began. I am proud of how i-City Golden Triangle has transformed and brought economic opportunities to our surrounding community. Going forward, we will continue to build on the smart commercial, smart financial and smart tourism components, which are the three core pillars of i-City’s master plan.

Meanwhile, 8 Kia Peng @ KLCC is our maiden foray out of Selangor. Located in the heart of the Kuala Lumpur Golden Triangle, the 50-storey 8 Kia Peng @ KLCC has a commanding view of the skyline with all the major landmarks.

This country has given me the opportunity to be what I am today. I wish that the country will swiftly adapt from the new normal and ‘ride into the future’. I also wish for the nation to learn from our past successes and failures, in starting a new chapter to strengthen our foundation for a more progressive and sustainable future. Malaysia will become a high-value-added economy and a net exporter of home-grown technologies and digital solutions, following the road map set out in the Malaysia Digital Economy Blueprint. May Malaysia continue to prosper, enjoy harmony and peace always.

Iconic Worldwide Bhd managing director 

The fundamental principles of honesty and integrity are the keystones of becoming a great entrepreneur, besides being hardworking to achieve your goals. Entrepreneurs who wish to be successful must first earn others’ trust in their capabilities, and to do that, they must deliver what they have promised to all partners, suppliers, customers as well as investors.

Some people may try to lie or cut corners in the beginning, but this will not work in the long term. If you are a fraud, your weaknesses and failures will surface eventually. Of course, you must be ambitious, but never ‘talk big’ or try to bluff about your strengths. Finally, concentrate on what you are good at and never give up.

I first ventured into the aquaculture industry in Penang approximately 30 years ago, before pivoting to property development in 2011 under Iconic Development Sdn Bhd. I made this decision because I thought that the latter was a more sustainable business for my children to take over in the future.

Our first property project was Icon City in Juru, Seberang Perai. Once completed in 2014, it turned into a bustling and vibrant commercial centre with a good mix of tenants such as restaurants, cafés and offices.

Fast forward to 2019, I emerged as the major shareholder of Sanbumi Holdings Bhd, now known as Iconic Worldwide Bhd. Since then, I have led the company to switch its focus from tourism to hotel management, property development as well as manufacturing of personal protective equipment (PPE).

Today, I am very committed to building Iconic Worldwide’s businesses and its brand as a reputable company not only in the northern region but also the whole of Malaysia and beyond.

In July, we led our entire management and teams at Iconic Group Sdn Bhd and Iconic Worldwide Bhd to be vaccinated. This is to ensure that all of us are safe during this Covid-19 pandemic, as well as to prepare the company for the reopening of the property and tourism sector in, hopefully, the near future. Meanwhile, we are working hard every day to produce high-quality and well-designed face masks for Malaysian citizens’ and frontliners’ protection, as well as prepare our upcoming PPE manufacturing facility in Batu Kawan, which will start production very soon.

My main wish for Malaysia and its citizens is to win the Covid-19 battle soon, and for everyone to return to their previous everyday lives. Hopefully, we’ll be able to meet our loved ones and friends freely, and conduct business or work as usual. To do that, of course, we need to stay safe and healthy now.

As for the economy, we understand that it is difficult to ride out the pandemic without significant sacrifices. However, I urge everyone to stay strong and help each other out, so that we can all go through this and move on to a new age of prosperity.

Triterra Metropolis Sdn Bhd joint chairman

For Datuk Seri Michael Yam and Christopher Lim, being an entrepreneur requires several components.

Says Yam: “The 3Es of Education, Experience and EQ supplemented by the 3Rs of Risk taking, Resilience and ability to Recover. Armed with the basic requisites of education with the competencies of the 3Rs of Reading, Writing and Arithmetic, the budding entrepreneur should quickly embark on as many ventures as possible within his/her risk appetite to gain experience across a broad spectrum of business dealings. In doing so, mistakes will be made but the invaluable experiential learning gained would enable him/her to have the best tuition. Mistakes are stepping stones for success.”

For Lim, they are the 3Cs of Companions, Commitment and Capital. “The right companions refer to either business partners or fellow workmates that chart the vision together. This includes a supportive ecosystem including our family members. They are the cornerstone of one’s entrepreneurial journey.

“For commitment, it simply means no shortcuts, sheer hard work, staying focused and being fuelled by passion over and over again. And lastly, prudence to ensure sufficient capital to sustain the business journey and also the entrepreneur’s personal basic needs.”

On how they started Triterra, Lim says, “I got to know Datuk Seri Michael Yam through an introduction by my uncle, Datuk Oh Chong Peng. Never in my wildest dreams did I think we would be embarking on a journey such as this. I have regarded Datuk Seri as a property icon, mentor figure, visionary and personality that’s larger than life. As a property negotiator and co-founder of Property Hub covering Mont’Kiara, I am blessed to witness first-hand how he has worked tirelessly to transform a former rubber estate into an international neighbourhood.”

Yam, who opted for early retirement in 2008, recalls: “From 2009, I was managing my own advisory firm while being an independent director on the boards of four public listed companies, including a subsidiary of a global bank. Then, the opportunity to take up a significant stake in a greenfield development in a prime location in KL was brought to my attention by my consulting team in 2015. When I found out who the interested party in this development was, I felt comfortable and confident to be in partnership with a family that is reputable, well-respected, honourable and most importantly, shares a similar value system as my personal beliefs.

“Seven years into the journey of conceptualising, planning and constructing, the soon-to-be-delivered RM650 million twin office block known as The Met Corporate Towers has been a success. That decision to go into partnership with the Lim family — with Datuk Wira Lim Teong Kiat as my joint chairman, his son Christopher as CEO and his brothers Daniel and Andrew as deputy chairman and director respectively — was indeed the right one.

Lim adds, “Not only have we forged a business partnership, but also a family friendship between the Yams and the Lims, and also a meaningful partnership with the Naza family led by Faliq Nasimuddin, which we will always treasure.”

For Malaysia Day, Yam and Lim wish for the government to respect and fulfil the provisions in the Federal Constitution and the tenets of the Rukun Negara.

Yam says, “Leaders need to lead by example and rule without fear or favour as long as they are transparent and accountable and act with good governance and integrity. These would go a long way in facilitating Malaysians to live in harmony, peace and mutual respect with one another. More effort should be placed on the vision of shared prosperity, especially in uplifting the socioeconomic well-being of the less fortunate regardless of race or religion.”

He adds that with 25% of the population aged between 15 and 30 years old, this segment will determine the nation’s destiny. “Their aspirations should be considered in the politics of the country as they shape their own future in light of the new normal with digitalisation, ICT and Industry 4.0 being the new oil of the coming years.”

Lim says, “Let us begin to intentionally honour one another as rakyat jelata — political leaders (be it in the government or opposition), industry leaders, NGOs, civil services, private sector, athletes and, of course, citizens at large — as God’s beloved creations. It is also a time when we should embrace a culture of ‘agree to disagree openly with utmost respect’ without victimisation or going along hierarchical lines. I believe it is God’s plan for us to live together to practise self-control, and learn to work, care and love for one another in this land we call home.”

BÖN Estates sdn bhd managing director 

BÖN Estates was born from my desire to take a different approach to property development, and starting my own brand has enabled me to achieve this. Naturally, there were many challenges along the way, including convincing stakeholders about the importance of investing in a more energy-efficient building ideology. At the time, people had not yet considered sustainability as a key factor when purchasing homes. Another was pursuing the idea that we could convert existing wasteland into a lush scenic landscape with jogging tracks.

Additionally, as a new boutique developer, building trust with prospective buyers was a massive undertaking. However, we stayed true to our philosophy, communicated our vision well and made compromises only when necessary. I’m proud to say that this resonated with buyers, and we have followed through with our promise to create artisanal spaces that promote an elevated quality of life.

To me, entrepreneurship is very much a spiritual journey, requiring integrity and a strong will to reach success. It begins with adopting the right mindset and developing a deep understanding of how a specific business works, either through hands-on experience, or self-education via research or taking courses. We engage with many businesses in our daily lives, but take for granted the lessons we can learn through our interaction with them.

I encourage aspiring entrepreneurs to first cultivate an open mind and be attentive to details, so that they can understand the motive and purpose of every business they engage with. Discover how they create value to serve the needs of customers, while at the same time generating sufficient revenue to stay profitable. This is a particularly interesting observation in the current Covid-19 environment.

Above all, I wish for the safety and good health of Malaysians. These are extremely difficult times, and this pandemic has certainly taught me some painful lessons. Life really is about connecting with people who matter most, and we all feel the pain of not being able to do that freely now. So, I fervently wish that we will all soon have that freedom again.

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