Interviews With The World's Leading Real Estate Developers
Steven Hool Kok Hoe, CEO of PRG Holdings in Kuala Lumpur, Malaysia
PRG (Premier Group of Companies) Holdings is a publicly listed company in Malaysia and has expanded business overseas in different industries. Today we hear the story of PRG Holdings from their CEO, Mr. Steven Hool Kok Hoe regarding the future development of the company and their high-profile project "Piccaso Residence"
Dato' Steven Hooi, aged 51, was appointed as the Chief Executive Officer on August 5th, 2014. He holds a Bachelor of Engineering (Civil & Structure) from the University of Kebangsaan, Malaysia, and both a Bachelor of Business Administration and Masters of Business Administration (Marketing) from New Zealand. He has more than 26 years of experience in the Construction & Property Development sector.
Who Is PRG Holdings?
PRG Holdings focuses on construction and development in the luxury real estate sector of Kuala Lumpur, Malaysia. The name PRG Holdings came from Premier Group, which denotes the company’s continuous commitment to deliver the best in everything that we do, be it our products, our concept, our service, our quality and value-added to our stakeholders.
To achieve such ideals, we are sure to be able to continue to innovate and place the interest of our customers as a top priority in developing our products. We also need to understand and cater to the Customer’s needs, and that create developments that are appropriate with eco-friendliness and sustainability.
What Is Your Background As CEO?
"I got interested in building when I was a child. After that, I studied real estate and business in my undergraduate days. Then I got my qualification in building and engaged in many projects, such as commercial complexes and roads. The experience of getting this qualification has been useful to me.
I got a lot of specialized knowledge about real estate development, after getting a degree in engineering in 1997. But that would not be enough for me to survive in the real estate business. I thought marketing and sales abilities were needed to become the CEO of a developer company, and so I got my MBA in specialized knowledge of real estate development."
What Are Your Company Policies and Most Important Philosophy?
“Our staff makes today’s PRG.”
"Though 13 years have passed since we listed our stocks on the Malaysian Stock Exchange, PRG is still continuing to grow. I think our staff is the most important aspect of our company. Our staff always has a good attitude and desire to maintain that positivity even in dire situations. Looking back, we have had times when our license to build was not permitted. But, with the staff’s hard work, they made our company survive and grow stronger. I think our staff has made the company of PRG. Besides that I feel it is important to give the best service to our customers. These are certainly key factors that produce sustained profits in the real estate sector."
What Are Your Company's Future Plans?
"We are currently developing new business overseas and in other industries. Currently most of our property developments are in Malaysia at the moment, but in the future, the construction team is looking for a chance to operate in Bali, Indonesia, and Yangon, Myanmar. With a weak currency in Malaysia, we can perform many projects at the same time.
Other industries, we are involved in, include a fabric company in Vietnam. The company, Furniweb, was established by Mr. Cheah in 1987. It has performed well in Vietnam and Malaysia ever since. This fabric business has now spread to over 30 countries. Three main departments in the business have continued to increase profits and will use these funds to make distributions to our shareholders."
What Are Some Of Your Company's Projects?
"PICASSO RESIDENCE is located in a very convenient location for access to the city center, within 3 km from Petronas Twin Towers. These condominiums are for the elite and its private elevator ensures the solitude for residents. The main attraction is the design which is suitable for both Malaysian and foreign investors. In addition, it has nice views and the location is near the main road and train station. There are international schools, hospitals, and shopping malls near the LRT, Dato’ Keramat, station. These facilities are thought to attract many foreign investors."
What Are Your Project's Selling Points?
"Our products are modern and high quality, yet affordable. As a result, 1/3 of current sales is from Malaysia and 2/3 of it is from foreign buyers from Singapore and China. We have constructed the basement of PICASSO RESIDENCE, and are currently constructing up to twenty-eight floors by the end of this year. Teamwork is also our strength. As all units, such as the building team and marketing team, worked together as one, to construct PICASSO RESIDENCE successfully."
What Is Your Outlook For The Malaysian Property Market?
"In 2016, there was barely any change in the real estate sector. But I think it will improve in 2017. All Malaysian local investors and developers are watching China. Malaysia is oriented to join hands with Chinese companies. Since the Chinese recession is ongoing, wealthy people and investors in China are focusing on Singapore and Malaysia’s spreading market. Especially in Malaysia, where a large developments are happening.
I am sure that the real estate sector in Malaysia will improve and grow because its value is the lowest in Southeast Asia. However, many people purchase properties as a second home in Malaysia because of its peacefulness and resources. So I believe that the future of real estate in Malaysia will flourish."
What Is Your Message for Property Investors?
"Some foreign companies and investors have good expectations for the economic growth of Malaysia and they continue to support us in spite of its high utilities. If there are new investors or someone who cannot decide whether to buy a unit in PICASSO RESIDENCE, please don’t hesitate to let us know. By purchasing property in Malaysia, it will strengthen the property business and the progress of Malaysia. We hope that our development projects will attract more foreign investors to build a community in Malaysia."
Sekai Property Editorial Department
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