Harta.net recently met up with Yong Tiok Nee, who is incharge of contract solutions at Crest Builder Holdings Berhad. Crest Builder is a leader in the property construction and development in Malaysia and we are privileged to be given an interesting insight on her view of company’s current development and the property sector.
Briefly on Crest Builder
The CBHB Group was founded in 1985 by Mr Yong Soon Chow. What started out as a small timer of less than 10 staffs has grown to a strong corporation of over 500 staffs under its stable. Over the past 25 years, the CBHB group has carved a strong foothold in the local construction industry. With in-depth industry experience, the CBHB group has a proven track record in the sector – especially in the commercial, residential and institutional building construction. The Group counts top branded developers and international property players amongst its clientele.
On current projects
Currently these are the major projects they are currently undertaking:
The South Brooks, Desa ParkCity – RM 328 million
The Capri Hotel, Jalan Imbi – RM 150 million
The Quarza Mall and Residences – RM 438 million
The New World Convention Centre, PJ – RM 120 million
The Greens, Subang West – GDV RM 390 million
Latitud8, Jalan Ampang – GDV RM 1.2 billion, to be launched in 2019
What are the current challenges ?
In general she feels that there is always the issue on getting sufficient labours for the projects and managing the rising the cost of materials.
In general, construction presents a daily day-to-day challenge – however, the key issues affecting the industry currently includes the volatility of building material prices as well as the foreign workers and labour uncertainties.
Apart from the sectorial issues, the main problems faced is always the human problem – of which human resource management constantly remains a big task and challenge, as the demands of employees and staffs increases. The lack of talent, and the lack of competent talent also becomes a long term problem for the industry.
On the future of property and construction
As the country faces an uncertain foreign labour situation, the near and long term future lies in the industrialization of the construction methods – whereby IBS (Industrialized Building System) and the precast methods will take prevalence.
For the property sector, the country braces for an increased and improved amount of affordable housing in key development areas, especially as the new Government administration continues to push for this.
What are your aspiration for Crest Builder ?
The company continues to be amongst the top boutique construction and property player in the market. Whilst the company is not able to match the giants of the industry such as the SP Setias, Eco Worlds, Gamudas and IJMs on market capitalization, annual revenues and turnovers as well as profit numbers, we aspire for Crest Builder to be the top boutique player – one that is constantly preferred by the reputable and prominent players in the industry.