Towards better performance and business sustainability

TheEdge Sun, Mar 10, 2024 08:30am - 2 months View Original

KUALA LUMPUR (March 10): Pelaburan Hartanah Bhd (PHB) is embarking on a business transformation plan to boost the property investment company’s performance and ensure the sustainability of its business. Group managing director and CEO Mohamad Damshal Awang Damit said the company aims to diversify its portfolio to include more properties from the healthcare, education and logistics/industrial sectors, and increase its overall portfolio to RM25 billion by 2030.

Damshal tells City & Country in an exclusive interview that PHB will employ two main strategies — the acquisition of completed buildings in prime locations (including a potential expansion to the East Coast, Sabah and Sarawak) and co-development — with more focus given to acquisitions as they provide immediate yields.

“Diversification is important because if you look into our financing, we are financed by a unit trust fund and it is sold at a fixed price. That means we have to absorb the volatility of the [different property sectors]. So with portfolio diversification, it will enhance our ability to absorb the volatility,” he says.

In the same issue, we cover Berjaya Land's groundbreaking event for the Four Seasons Resort & Private Residences Okinawa in Japan. The company is looking to expand its hospitality business in Japan with at least 10 Four Seasons hotels and resorts across the country.

Malaysia is considered an ageing society and by 2040, we will be an aged society. With declining fertility rates and people living longer, senior living facilities are getting increasingly commonplace. Pacific Senior Living, which is part of US-based Columbia Pacific Management Group, has opened Acacia in Klang, the group's first senior living facility in Malaysia. The four-storey residence occupies the site of the former Merrida Hotel building and comprises 136 rooms in total, catering to both assisted and independent living.

UK-based architect Robert Powell launched his book Visionary Architects of Monsoon Asia in Kuala Lumpur on March 2. The book, which is a culmination of his 40-year odyssey exploring Asian architecture, also features five prominent architects from the region namely Tan Loke Mun from Malaysia, Singapore-based Rene Tan, Duangrit Bunnag of Thailand, Andra Matin of Indonesia and Vo Trong Nghia of Vietnam.

We also carry two stories from our Singapore counterpart — one on a four-bedder at Ardmore Park that reaped a S$7.07 million (RM24.8 million) profit and another on a five-bedroom bungalow in Sentosa’s Cove Way that will be put up for auction on March 21 for S$18.6 million.

Read all this in the March 11 issue of The Edge Malaysia weekly.

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