JANUARY 2012 |
www.opp.org.uk
WINNERS
back stock. So in all cases, we subsidise the customer with the best price instead of giving advantage to investors.” It all helps Raheja achieve the highest customer satisfaction index in the country - “virtually zero complaints” - and more than 35 national and international awards between 2009 and 2011 including recognition from CNBC, CRISIL, Bloomberg, and CIDC (under the Planning Commission, Govt. of India). The company also works hard on behalf of its staff. It has introduced a staff welfare scheme launched by the State Government to provide facilities and benefi ts such as: • Health and medical facilities, education to the workers and their families; • Safety training, skill up-gradation, facilitation relevant support for job- placement after training; • Health insurance; • Donation/help of INR21,000 for the marriage of each worker’s daughter (max two); • Education scholarships; and • Other benefi ts as provided under the schemes and policies of State Government.
Another priority for Raheja has been to minimise its environmental footprint by using “water harvesting and water re-usage, double-glazing, thermally insulated and tinted glass for window panes, piped gas, solar energy generation via photo-voltaic cells, the use of non-toxic bio-degradable materials and the use of CFL and light fi ttings rather than bulb-based fi ttings for all projects.” Most of Raheja’s projects are built under the guidance of the Indian Green Building Council (IGBC) and, it says, “most of complexes have already been Gold Rated by the Ministry of Environment.” And to make its social awareness real, Raheja is now working on a massive “slum re-development project at Kathputli Colony, spread over 5.22 hectares, near Shadipur Depot – part of the Delhi Development Authority. The project will build 2,800 EWS units for the squatter families of Kathputli Colony.”
And, at the other end of the scale, Raheja is “constructing a 2 million square foot luxury gated community in Gurgaon with a 60 storey residential tower. This will be the tallest building in Northern India.”
Silver: Mah Sing Group Berhad
What did Mah Sing tell the judges? Mah Sing Group told the OPP judges that “our expertise is in innovative product development, high quality fi nishing, as well as timely delivery of our products which surpass our buyers’ expectations.” The Group currently has 35
projects across Malaysia at places such as Kuala Lumpur and the Klang Valley, Johor Bahru (Iskandar Malaysia) and Penang Island (North Corridor Economic Region). The launch of Icon City, Petaling Jaya in July 2011 was a huge success, with record sales of more than RM420 million. Incorporating 3 green standards, namely Malaysia’s Green Building Index, Singapore’s Green Mark and the US’s stringent LEED in its various components, the Icon City, Petaling Jaya is expected to generate RM3.2 billion in Gross Development Value (GDV). Mah Sing also pointed out that
it has a “fast turnaround business model, making it the most effi cient developer amongst its industry peers in terms of asset utilisation, with an asset turnover ratio consistently above 45% for the last 5 years.” The group is widely recognised across
the Asia Pacifi c region for the quality of its work. Recent awards include: 1. Asia Pacifi c International Property Awards 2011; 2. The Best of Asia” Corporate Governance Asia Recognition Awards; 3. The Edge Billion Ringgit Club Awards 2011 - Mah Sing was named Best Stock Performance, refl ecting annual returns to shareholders of 33% over the last three years. The company believes that its competitive strength lies in: • Versatility and strong branding - products range from residential (from medium-to-high end development, both landed and high rise with built ups from 500 square feet), to commercial (offi ce, retail and shops) and industrial properties. • A quick turnaround strategy – ensuring a short period between land purchase and launch “for quick cash fl ow generation to maximise shareholders’ return.”
Bright spark | Mah Sing Group’s innovative products impressed the OPP judges
• A strong research and development team for innovative and fresh concepts … such as “super-linked, semi-D and bungalow developments in gated-and-guarded environments with facilities. • Quality and service … based on a “strong Quality Control and Quality Assurance team that ensures all our projects meet and exceed stringent quality standards.We are also adopting international best practices in ensuring quality, and have sought CONQUAS (Construction Quality Assessment System) certifi cation by BCA Singapore (Building and Construction Authority) for all new residential projects.”
The advantages of working like this
are, Mah Sing told the OPP judges: • Low net gearing of 0.21 as at 30 June 2011. This provides the Group with the capacity to gear up for landbanking. • The ability to mitigate risk relating to property cycle through timely acquisition of land and launches. • Earnings sustainability. Our
present combined remaining GDV and unbilled sales are approximately RM14.5billion should provide earnings sustainability for another 5 to 7 years. • Geographical diversifi cation. Domestically, Mah Sing has developments in the three main growth corridors of Klang Valley, Johor and Penang. It is also looking at opportunities abroad, namely China, Vietnam, Singapore and Australia. Over the past four years, Mah Sing has doubled its sales revenues from RM727million in 2007 to RM1.5billion in 2010. Indeed, as of 30 June 2011, the company had recorded sales of RM1.24billion - 60% up year-on-year. And net profi t has increased from RM81million in 2007 to RM118million in 2010, an increase of nearly 50%. As at 30 June 2011, net profi t was RM84.3 million, a 48% increase for the corresponding period in the previous year. In addition, the total number of projects nearly tripled over the same period, from 13 projects in 2007 to 35 projects in 2011.
OPP AWARDS FOR EXCELLENCE 2011 | 65 Developer profi le BEST DEVELOPER WORLDWIDE Who is Mah Sing?
Mah Sing is a “lifestyle developer” with 17 years of property development expertise in Malaysia, specialising in “medium to high-end landed residential properties,” and mixed-use schemes. It currently has 35 projects in Malaysia in areas such as Greater Kuala Lumpur, Penang Island and Johor Bahru. The Group is keen on design-led projects and deliberately sets out to create iconic buildings and developments. It uses in-depth market research when picking where to develop and when identifying and setting new trends.
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