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S P Setia is Malaysia’s top property developer

31 October 2017
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(From left) Sunway deputy managing director (property division for Malaysia & Singapore) Tan Wee Bee, Sime Darby Property chief operating officer Datuk Wan Hashimi Albakri Wan Ahmad Amin Jaffri, IGB executive director Tan Boon Lee, IOI Properties chief operating officer (property development) Teh Chin Guan, Ho Kay Tat, YBhg Tan Sri Dato' Seri Ong Ka Ting, YBhg Dato' Khor Chap Jen, EdgeProp.my managing director and editor-in-chief Au Foong Yee, City & Country editor Rosalynn Poh, UOA general manager (projects) Stephanie Kong, Tropicana deputy group CEO Datuk Dickson Tan, Mah Sing chief executive officer and executive director Datuk Ho Hon Sang, EcoWorld president and chief executive officer Datuk Chang Khim Wah, IJM Land managing director Edward Chong and UEM Sunrise managing director Anwar Syahrin Abdul Ajib. Photo by Mohd Izwan Mohd Nazam

KUALA LUMPUR: S P Setia Bhd clinched the top spot in The Edge Malaysia Top Property Developers’ Awards (TPDA) 2017. This is the second consecutive year the company has won the spot. It dropped to third and fourth position in 2014 and 2015 respectively, before winning the title again last year.

S P Setia president and chief executive officer (CEO) Datuk C J Khor said the company is honoured and delighted to receive the award.

“It belongs to the team Setia, people who are passionate and working together to make the company moving forward,” he added. “It is team work and team effort, which is always our strong point.”

S P Setia was also awarded the Best in Quantitative Attributes sub-award, sharing it with IOI Properties Bhd. The Best in Qualitative Attributes sub-award, meanwhile, went to Sunway Bhd.

The TPDA anchors The Edge Malaysia Property Excellence Awards (Tepea), which in recent years has expanded to include other sub-awards such as The Edge-PEPS Value Creation Excellence Award, The Edge-PAM Green Excellence Award, The Edge Malaysia Affordable Urban Housing Excellence Award, The Edge Malaysia Outstanding Property CEO Award and The Edge Malaysia Property Development Excellence Award.

The rest of the Top 10 are Sunway Bhd (No 2), Sime Darby Property Bhd (No 3), IJM Land Bhd (No 4), Eco World Development Group Bhd (No 5), UOA Development Bhd (No 6), Mah Sing Group Bhd (No 7), IGB Corp Bhd and IOI Properties Bhd (No 8), UEM Sunrise Bhd (No 9) and Tropicana Corp Bhd (No 10).

The Tepea awards gala dinner was held yesterday at the Grand Hyatt Kuala Lumpur, with about 400 real estate players and experts coming together to celebrate the event.

“For the Top Developer Awards we have both qualitative and quantitative evaluation,” The Edge Media Group publisher and group CEO Ho Kay Tat said in his speech. “The qualitative evaluation is done by a panel of judges who are industry personalities. Companies are judged by their peers, which is probably the most satisfying way to be recognised. To mitigate the risk of biasness, judges abstain from casting their scores for companies where they are conflicted.”

The scores and rankings are audited by Deloitte Malaysia.

This year, a new category was added — The Edge Malaysia Outstanding Contribution to the Housing Industry — to Tan Sri Ong Ka Ting to recognise his contribution to the housing industry during his 10-year tenure as Minister of Housing and Local Government from 1999 to 2008.

The Edge Malaysia Outstanding Property Entrepreneur Award was shared between Matrix Concept Holdings Bhd Datuk Lee Tian Hock and Sunsuria Bhd executive chairman Tan Sri Ter Leong Yap. The award recognises their achievements and contribution to the property development industry.

Meanwhile, The Edge Malaysia Outstanding Property CEO Award went to S P Setia’s Khor and Sunway Bhd (Property Division) managing director Sarena Cheah. The award recognises CEOs and professionals whose leadership has taken their companies to extraordinary heights.

The Edge Malaysia Property Development Excellence Award went to Mid Valley Megamall by IGB REIT Management Sdn Bhd, 1 Utama Shopping Centre by Bandar Utama City Centre Sdn Bhd and Sunway Pyramid by Sunway REIT Management Sdn Bhd for Excellence in Suburban Family Mall.

The same award was also awarded to Pavillion Kuala Lumpur by Kuala Lumpur Pavilion Sdn Bhd for Excellence in International Luxury Shopping Mall as well as Regeneration of George Town by Think City Sdn Bhd.

The Edge Malaysia Pioneer Development Award — to recognise significant projects that have not only emerged as a pioneer in the market but also contributed positively to the growth of its surrounding areas — was awarded to KDU University College by Paramount Corp Bhd and Sunway University by Sunway Bhd for diversifying into the education sector.

The Edge-PEPS Value Creation Excellence Award — started in partnership by The Edge and the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector — recognises developments that have provided outstanding rewards to their purchasers in terms of capital appreciation.

This year’s winner was Horizon Hills Development Sdn Bhd’s Phase 2C in Horizon Hills, Johor, while the merit award went to Paramount Corp Bhd’s KU Suites in Kemuning Utama, Selangor.

The Edge-PAM Green Excellence Award was jointly created with the Malaysian Institute of Architects to recognise projects that demonstrate sustainable design innovation while contributing positively to the community.

The winner was Heriot Watt University Putrajaya by Putrajaya Holdings Bhd, and the honorary mention award was given to Majlis Bandaraya Pulau Pinang for the Revitalisation of Chowrasta Market.

The Edge Malaysia Affordable Urban Housing Excellence Award, which honours affordable housing projects for the urban middle-income group undertaken wholly by Malaysian private developers, was awarded to the Seri Mutiara Apartment by Bandar Setia Alam Sdn Bhd. Bayu Nusantara by Nusajaya Heights Sdn Bhd, meanwhile, received the merit award.

The Edge Property Excellence Awards this year was sponsored by Hansgrohe, Jotun Paints Malaysia, USG Boral and Volvo Car Malaysia, and presented by City & Country, the property pullout of The Edge Malaysia weekly. It is supported by EdgeProp.my.

Note from the publisher

30 October 2017
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Ong receiving the award from Ho, with EdgeProp.my managing director and editor-in-chief Au Foong Yee and City & Country editor Rosalynn Poh looking on

Dear readers,

The Edge Malaysia Property Excellence Awards (TEPEA), which recognises industry excellence, celebrated its 15th anniversary at a gala dinner on Oct 30. The 2017 edition was made all the more meaningful by the presence of Tan Sri Ong Ka Ting as our guest of honour as he had presented our first awards in 2003 and every subsequent one until 2007 as the housing and local government minister.

We honoured Ong with the Outstanding Contribution to the Housing Industry Award in recognition of his work as the housing and local government minister between 1999 and 2008.

Ong oversaw a period of strong demand for housing after the 1997/98 Asian financial crisis. To ensure adequate supply, he initiated changes to speed up regulatory approvals without compromising protection for house buyers.

Among others, he introduced a one-stop centre for approvals, the Property Management and Maintenance Act and the National Housing Tribunal to hear claims made by house buyers against developers.

It was amidst the robust growth in the real estate market that our then City & Country editor Au Foong Yee, who now heads our property portal edgeprop.my, decided to start a ranking of developers to enable the public to identify those that showed consistent financial strength and delivered quality products to their customers to be used as a home or an investment.

We wanted to set a benchmark to guide homebuyers and investors. In the process, we believe the awards have also become a benchmark for property companies to strive for excellence.

Today, the awards are much coveted because the vigorous judging process we use ensures that they are based on merit. It is worth noting that we have different teams of judges for the different awards.

The judging for the Value Creation Award is done with representatives of the Association of Valuers, Property Managers, Estate Agents and Property Consultants (PEPS). Two judges from The Edge and three from PEPS evaluate and score each submission on three criteria, including the average capital appreciation from the developer’s selling price to the actual transacted price of any subsequent sale of five properties over a period of not more than five years. All submissions must be accompanied by the appropriate documentation.

For the Green Excellence Award, we work with Pertubuhan Akitek Malaysia (PAM), which has three representatives on the five-member judging panel. The judging criteria include showcasing innovation beyond the industry standard required, for example, the Green Building Index; design; sustainability; cost efficiency; and relevance to the surrounding community.

For the Top Property Developers Awards, we have both qualitative and quantitative evaluation. The qualitative evaluation is done by a panel of industry personalities. Companies are judged by their peers, which is probably the most satisfying way to be recognised. To mitigate the risk of bias, judges abstain from casting their scores for companies where there is conflict of interests. In this evaluation, each company is based on its expertise, image, innovation and creativity, product quality and the value it creates for its buyers.

The quantitative evaluation is based on a company’s shareholders’ funds, turnover, profitability and cash or gearing.

All property companies listed on Bursa Malaysia and non-listed developers that submit their latest audited accounts to us are evaluated and ranked.

In 2016, the combined pre-tax profit of property companies listed on Bursa fell 16% year on year to RM10.22 billion, reflecting the softer market.

The overall ranking combines the scores of each company from the qualitative and quantitative evaluations in a 65% to 35% weightage.

The scores and rankings are audited by Deloitte Malaysia.

We also recognise excellence in large-scale developments that have had a positive impact on the surrounding community as well as affordable urban housing, which is perhaps the single largest challenge facing the property market today.

We also present personality awards to outstanding real estate entrepreneurs and professional CEOS for exceptional leadership and performance.

This 136-page special supplement provides the details of the awards and the recipients, and photographs of a special evening when leading industry personalities and executives came together to celebrate excellence and each other’s successes.


Ho Kay Tat
Publisher and Group CEO
The Edge Media Group