KSI Three Strategic Thrusts: Strategic advice, Curated Events and KS REVIEW Executive Briefings KINGSLEY STRATEGIC INSTITUTE January 2019 Tan Sri Lee Kim Yew, Founder and Patron of WCEF explaining the Chinese characters on the scroll to YAB Tun Dr Mahathir Mohamed, Prime Minister of Malaysia after his keynote address. TOWARDS A COMMON FUTURE: ENHANCING NEW OPPORTUNITIES IN A CHANGING WORLD KSI co-managed World Chinese Economic Forum held in Kuala Lumpur, Malaysia on 9 - 10 November 2018 mutual trust. Leaders of the two countries Malaysia China diplomatic relations. WCEF have always maintained the general is also a super connector and bridge for direction of friendship while assessing the strengthening and building connectivity situation and complying with the trend. and business linkages between Southeast China-Malaysia friendship has always Asia, Europe and China. been based on equality and mutual trust between the two governments and people While it brings together the Chinese of both countries. Making this new energy diaspora that had played a part in China’s and rich potential work for the wellbeing of move towards a higher valueadd and the people in both countries is the current service-oriented economy, from the priority of both governments. Taiwanese engineers who transmitted The Prime Minister was greeted by Tan Sri Michael Yeoh and knowledge from Silicon Valley to China’s Tan Sri Lee Kim Yew upon his arrival at the Forum. This year marks the 40th anniversary budding infotech sector, to Singapore’s role of China’s Reform and Opening in bilateral projects such as the Guangzhou 2018 marks the 44th anniversary of the (gaigekaifang), initiated by Deng Xiaoping Knowledge City. It has also contributed establishment of diplomatic relations at the Third Plenum of the Eleventh Central to the rise of the new’ diaspora, high- between China and Malaysia. Malaysia Committee in 1978. These economic skilled and born in mainland China, who was the first ASEAN country to establish changes were so far-reaching that Deng are at the forefront of China’s transition diplomatic relations with China, starting a described them as part of China’s “second to a knowledge intensive economy. new phase of cooperation between the two revolution.” Since then, China has become These people are the face of China’s new countries. Over the past 44 years, China- an economic powerhouse. This year also globalization, forging links with foreign Malaysia relations have continued to grow marks the return of the World Chinese economies that are more entwined than a and strengthen. China and Malaysia have Economic Forum (WCEF) to Malaysia simple export import relationship. become strategic partners with high-level to celebrate the 44th Anniversary of 2 WORLD CHINESE ECONOMIC FORUM 2018 Dato Sri Dr Vijay Eswaran posing for a photo with YB Dato Seri Anwar Ibrahim, YB Lim Guan Eng 4 very distinguished gentlemen at the Gala Dinner, From L-R , H.E. Shaukat Aziz, Former Prime Minister and Tan Sri Michael Yeoh. of Pakistan, Tan Sri Michael Yeoh, Chairman, Organising Committee WCEF, YB Lim Guan Eng, Minister of Finance Malaysia and YB Dato’ Seri Anwar Ibrahim, President, Pakatan Harapan & MP, Port Dickson. Sponsors, Partners and Organising Committee holding up the red ribbon after the ribbon cutting ceremony. WCEF 2018 with theme, “Towards a Common Future: Enhancing New Opportunities in a Changing World” is indeed apt and timely. It is in line with the new diaspora, that we should blaze new trails, explore new ideas, motivate people and create new opportunities. The Prime Minster unveiling a scroll presented to him by the International Zheng He Association. H.E Shaukat Aziz having a conversation with Tan Sri Barry Goh, Tun Dr Ling Liong Sik, H.E. Shaukat Aziz, Dato Sri Dr Vijay Eswaran and Mr Goh Peng Ooi are among the many distinguished guests Executive Chairman of Kingsley EduGroup. at the Forum. 3 WORLD CHINESE ECONOMIC FORUM 2018 Mr Steve Howard, Tan Sri Michael Yeoh, Dr Xiang Bing, Amb. Su Another group photo of Amb Su Gee, Tan Sri Michael Yeoh, Tan Sri Michael Yeoh with Mr Alexander Wan, Cr Philip Le Liu Gee and Tan Sri Lee Kim Yew in a group photo. Mr Chean Chyuan Yong, Dr Yan Lijin and Mr Edmond Yeo. and Mr Max Say. Standing upright for the national anthem at the Special Session with the Prime Minister. From L-R, Tan Sri Michael Tan Sri Michael Yeoh greeting YB Dato Seri Anwar Ibrahim upon his arrival at the Yeoh, The Hon. CY Leung, YAB Tun Dr Mahathir Mohamad, Tan Sri Lee Kim Yew and Mr Cheah Chyuan Yong. Gala Dinner. With them is Dr Yan Lijin. Tun Dr Ling Liong Sik meeting YAB Tun Dr Mahathir Mohamad A group photo of distinguished guests, speakers and organisers with H.E. Shaukat Aziz, The Hon CY Leung and YB Nga Kor Ming. in the holding room. All the strategic and corporate partners together with the organising committee members posing for a group photo with The Hon. CY Leung and H.E. Shaukat Aziz, flanking the Prime Minister, YAB Tun Dr Mahathir Mohamad. 4 HOUSING AND PROPERTY DEVELOPMENT COLLOQUIUM Housing and Property Development Colloquium Reimagining the 2 October 2018 Palace of the Golden Horses, Housing and Property Seri Kembangan Industry in the New Malaysia Ms Au Foong Yee, Editor-in-Chief & Managing Director, The EDGE Property chairing the session on the Property Leaders Roundtable. On her left is Tan Sri Lee Kim Yew, Executive Chairman, Country Heights Holdings, followed by Tan Sri Dato’ Sri Barry Goh, Chairman, BGMC Group; Datuk Christopher Boyd, Executive Chairman, Savills (M) Sdn Bhd and Dato’ Neoh Soo Keat, Managing Director, Trinity Group Sdn Bhd. The Kingsley Strategic Institute (KSI Institute), a newly set-up independent private sector think-tank that began operations on 1 August 2018 organised its very first conference, the Housing and Property Development Colloquium with its theme, “Reimagining the Housing and Property Industry in the New Malaysia” on 2 October 2018 at the Palace of the Golden Horses, Seri Kembangan. Speakers at the colloquium opined that to resolve the affordable housing availability Tan Sri Barry Goh, Chairman of KSI Institute is having a light moment with Deputy Minister of Housing & Local Government, together with Tan Sri problem, all stakeholders in Michael Yeoh, Executive Vice Chairman, KSI Institute and Tan Sri Low Gay Teck, Managing Director, Land & General Berhad. the public and private sectors need to work together to offer 1Malaysia People's Housing costs. However, he noted that multiple solutions. Another (PR1MA) chief operating officer to resolve the problem, all area of focus was on the usage Building Datuk Aminuddin Abdul Manaf stakeholders need to contribute of technology, for example, revealed that the company to make houses affordable. For Industrialised Building System affordable has difficulties in building instance, the authorities could (IBS) could be a way to lower homes shouldn’t more homes as obtaining land help by reducing or waiving the cost of construction. from state government is not land premium or development Developers should embrace be something easy. Besides this, obtaining charges, provide facilitation new technologies, not only for that drains end-financing is also another fund or provide land for building affordable housing, developers’ problem for homebuyers. affordable homes project. As but also to enhance their for suppliers or vendor, they competitiveness in global profit. PNB Development Sdn Bhd could play a part by reducing market. “Building affordable CEO Mohd Salem Kailany their charges to reduce the homes shouldn’t be something Dr Suraya Ismail agreed that concurred that construction cost. that drains developers’ profit,” Khazanah Research the usage of new technologies said Dr Suraya Ismail, Khazanah Institute Director of such as IBS and solar powered Other speakers at the Research Institute Director of Research system could be one way Colloquium also agreed that Research. to bring down construction the property sector is expected 5 HOUSING AND PROPERTY DEVELOPMENT COLLOQUIUM Group photo of the KSI’s Institute Directors, Sponsors, Senior Speakers with the Deputy Minister of Housing & Local Government. Panel Speakers of the Property Sector Outlook Session. From left to right: Dato’ Stewart LaBrooy, Panel Speakers of the Affortable Housing Session. From left to right: Jayaselan Navaratnam, Executive Chairman, Area Management Sdn Bhd; Foo Gee Jen, Managing Director, CBRE|WTW; Director-General, National Housing Department; Dato’ Ar. Aminuddin bin Abdul Manaf, Chief Kumar Tharmalingam, Senior Adviser, Area Management Sdn Bhd and Warrick Singh, Principal, Operating Officer, Perbadanan Pr1ma Malaysia; Ar. Mustapha Kamal Zulkarnain, Committee Asian Land Realty Member in the Housing & Urban Wellbeing, Malaysian Institute of Architects (the Moderator); Mohd Salem Kailany, Chief Executive Officer, PNB Development Sdn Bhd and Dr Suraya Ismail, Director of Research, Khazanah Research Institute to see vacant properties filling players in view of the growing the market in 2019 as financing e-commerce sector. He added becomes stricter due to low that e-commerce facility is the property sales. As credit is not most under-invested sector in easily available in the current the local property sector as he market and unless liquidity is estimates that it only accounted injected into the market, it is not for 1% or 2% in the proportion expected to see improvement of development allocation by until 2022. property developers in the industrial space. AREA Management executive chairman Datuk Stewart The one-day conference was LaBrooy believes e-commerce officiated by the Deputy facilities such as warehouse, Housing and Local Government distribution hub and logistic Minister Datuk Raja Kamarul centre is an untapped Bahrin Shah. In his keynote market that offers a lot of address, he added that property KSI‘ senior management (Tan Sri Michael Yeoh, Dato’ Jean Wong and Mr Max Say) and the owner opportunities for the industry developers are behaving more fo the venue (Tan Sri Lee Kim Yew) together with Mr MC Teng posing for a photo with YBM Senator Dato’ Raja Kamarul Bahrin Shah ibni Raja Ahmad Baharuddin Shah, Deputy Minister of and more like local councils Housing and Local Government.