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HB Advisor 3Q 2024

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HONOURING COMMITMENT AT THE EDGE MALAYSIA BMSPA 2024, P1 PLUS

Penang 2024: Optimistic & Yet Cautiously Compelling p5 Malaysia’s Ageing Society p6 A Slower Pace of Launches in Klang Valley in 1H 2024 p10 Appreciate Art, Art Appreciates! p12 JULY - SEPTEMBER 2024

When the judging criteria goes higher and higher, it defies the myth of “First Class Buildings, Third Class Maintenance” that plagues the country’s property management industry. the designated manager to preserve and protect the prized assets you call home.

PMgr Sr Low Hon Keong

W

KDN PP18893/11/2015(034373)

inning at The Edge Malaysia’s Best Managed & Sustainable Property Awards (BMSPA) 2024 is a result of our clients’ faith in us coupled with the dedication of our staff at Henry Butcher Malaysia Mont Kiara (HBMK). Some of our clients have walked a steep and narrow path with us to reach the pinnacle of the awards. This included overcoming inconsistent administration practices, unsustainable financial models, weak upkeep & maintenance, gridlock at meetings, and so forth. To have come this far and secure the trophies, it is testament to a job well done. For that, I would like to record my sincere appreciation to our clients for investing faith into our brand as

To our team, your unwavering commitment and dedication to go down to the ground has culminated into this result. It’s a moment to cherish and a time to bask in the glory but let’s not forget where we started from and what our professional responsibilities are to our clients. By that token, let’s continue the good work and march on to raise our game just as the transparent and professional awards judging criteria have also been elevated every year. Discerning Expectations The BMSPA has proven to be a good platform for us to keep up with the global standards such as sustainability and compliance with ESG. It is also a forum where we can learn best practices from each other and together, improve the property management practice in unison. But oftentimes, the scope of property management is looked upon as a Planned Preventative Maintenance (PPM) job, which can be just procedural. But those in the practice know full well we’re dealing with much more than just scheduling. For example, in managing upmarket properties, it comes bundled with the discerning expectations of the

property owners and occupiers. These are people who have travelled the world and know what constitutes flawless property management. Cutting corners could very well turn out to be disastrous. To meet such expectations, we have to be on our toes and be alert at all times. It is not a deskbound job that can afford one to troubleshoot remotely. It is also no easy feat to ensure the upkeep is spotless when the inhabitants are the VVIPs or honourable dignitaries. As such, to have received a signed testimonial from such an astute class citizen residing in one of the winning projects even before the awards this year is absolutely invaluable to us. It underscores our commitment to enhancing the value of these properties, whether intrinsically or otherwise for our clients. In another example, we were praised for our peacekeeping role between parties at the meeting table for the benefit of the property. While it has taken a bit of time to get to where we are today, the formation of the Subsidiary Management Corporation (Sub-MC) has proven to be a sound remedy. For the record, although the Sub-MC seems odd, it is fully compliant with the Strata Management Act 2013 (Act 757). It is also only the second Sub-MC in the country. Other interesting encounters we’ve faced include being roped in as early as the planning stage before construction began, a client’s contractual request to be enlisted for BMSPA when the property is ready while under our care and also complimented by the judges for performing above certain properties overseas.


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HB Advisor 3Q 2024 by Henry Butcher Malaysia - Issuu