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Capital Foresight
Most people would be beaming with delight when asked to head
a healthy business at a time when the economy was thriving almost indefinitely.
Time check: 1996. Company check: Capital Land Sdn Bhd. Reputation check: a company
that has identified and built pockets of gold throughout Klang Valley since the
1970s. It is in this very circumstance that Raymond Tan was entrusted the throne
about a decade ago. Timely as it may seem, disaster loomed when he had least expected
it. The infamous ‘97 recession swept across the nation and the region. For Raymond,
this is by far his greatest challenge yet ! By Ivan Tan (Home Finder)
 Almost
a decade after the recession, former national shooter and an avid golfer, Raymond
survived the scare of the Great Crisis and kept Capital Land’s foundation firm on
the ground. The most distinct sign of strength is the ability to undertake a project
on the much-debated Build-then-Sell concept. Raymond achieved this while most are
still struggling to grasp the mechanism and implementation of the concept. Capital
Land successfully completed the construction and sale of all units built in its
darling project, Puchong Hartamas (phase 6 & 7) in Puchong. By any measure,
the test of resilience is passed with flying colours.
Capital Land is synonymous with foresight. Land opportunities are spotted way before
they become popular. In some instances, we have heard of fellow developers who had
steered clear from what was deemed as ‘doom land’. “People didn’t even want the
land in Taman Bukit Mas when my father bought it,” said Raymond referring to one
of the most affluent high end housing projects in the country called Taman Bukit
Mas in Bukit Tunku back in the 1970s. Other notable projects under Capital Land
include Damansara Kim, Continental Park of Old Kuchai Road, Mutiara Oriental Condominium
of Taman Bukit Mayang Emas and Vistamas of Cheras Hartamas to name a few. These
developments have received many accolades and a frenzied reception from buyers and
fellow developers in the surrounding areas. The effect of its quality homes propelled
these locations to immediate fame.
One wonders the force behind Raymond’s motivation. “If you look at the history of
business, property can never go wrong. Sure there is a cycle but it always picks
up again. Also, property prices in this country are among the lowest in the region.
The room for appreciation is tremendous!” Even so, one would beg to differ given
the demanding ature of the business. “Unlike foreign players, you need not be extremely
strong financially to be a property developer in Malaysia.” continued Raymond. “Here
you are allowed to build and receive payments progressively from the buyers.”
After spending 9 years receiving education in the UK, Raymond decided to return
home to begin another chapter of his life in 1985. His first stint with the family
business saw Raymond taking on the general insurance route. He took the necessary
tests and sought exposure to the trade for approximately 3 years before turning
to the property business. However, Raymond jumped from bricks to fabric with his
wife 3 years later and became the official agent for renowned apparel franchise,
Benetton. It didn’t take long for Raymond to realise that he fit better in the property
development business rather than fashion world. In 1996, Raymond was requested to
return to the family fold to focus on property development under the purview of
his father, Tan Sri Dato’ Dr. Tan Lai Kim, founder and chairman of Tan Lai Kim Group
of Companies, the parent company of Capital Land.
Fresh from leaving a business, Raymond knew that if he was to succeed in
leading this ship, he needed to assume full authority. At the same time, both father
and son recognised that the differing management styles may not augur well for the
company. Soon after Raymond’s return, Tan Sri made way for his son fully confident
in his great passion and positive business acumen.
Everyone in the industry including Raymond were bold and daring in 1996. With a
thriving economy, Raymond drew up plans and ambitions for the company. But as the
dark period loomed, the plans were flushed.
“Looking back, I think that was the reason I aged so much!” he quipped. But holding
on to the thought of “sticking to what you know best”, he continued persevering.
Emphasising that the company has always developed niche projects instead of mass
housing schemes, there was no rush to build.
Raymond exclaimed that it was his toughest time ever. “Times were so tough back
then that we had to sell off some of our prime land just to weather the storm.”
He was forced to change his style during this period. A naturally optimistic go-getter,
Raymond was forced to learn the value of prudence. Raymond continued, “I could only
sigh a breath of relief in 1999 and put on a genuine smile in 2001. But it was in
this period that I learned the most.”
To relieve from stress, he would dismiss from work on time or sometimes even earlier.
Utilising this free time for a round or two of golf or even to have a few drinks
while catching up with some friends. Little did he know that these small breaks
gave him room to expand his thoughts and produce creative yet functional ideas in
meetings and discussions. “I call this my stress management. It is so effective
for me that I am still practising it till today.
Dawn
Soon as the market picked up, Capital Land was already in motion on two of its prime
projects, Cheras Hartamas and Puchong Hartamas. Timing was
right as the country
has just awoken from the bad spell and people were beginning to get more comfortable
with the idea of investing again. The location of the land banks were also appropriate
given the growth pattern experienced by both Cheras and Puchong.
Raymond took these projects close to his heart by personally overseeing the projects
from conceptualising all the way to the final fittings. His meticulous observation
and strict adherence to specifications ensured the homes were built with quality.
“I believe in karma. As such, when we build homes, we build them as if we are the
ones staying in it.” said Raymond. Evidently, majority of its development has enjoyed
good capital appreciation since earth works began.
"I
believe in karma."
“We take pride in translating customer needs into reality and we
also attempt to introduce new concepts where we think the consumers are ready.”
Raymond confirmed studies are carried out prior to construction to ensure the homes
are well received. “A case in point being the semi-D project of Danau Mas in
Cheras.
This project produced two types of semi-Ds, one is the conventional type joint at
the side while the other is joint b a c k - t o - b a c k . Consumers were hesitant
in the beginning with the back-to-back concept but soon after the show unit was
ready, they were all snapped up!” Another niche project built on the same understanding
in the adjacent area is Vistamas. “Again, the needs of the customers were well read.
We provided up to four different types of bungalow designs for the refined taste
of our consumers. It is actually one of the higher-end projects available in Cheras.
This represents a lifestyle upgrade opportunity for the affluent in the surrounding
areas because they are ready.”
“Conventionally, building a bungalow in Cheras requires you to purchase a land first.
At Vistamas, you can now own one without the trouble of buying the land. We are
also building a common swimming pool with a friendly rest area instead of a clubhouse
so that residence can enjoy their leisure time freely in a less intimidating atmosphere.
This will also keep maintenance cost to its lowest.” explained Raymond of this 35-unit
exclusive project. “You will feel the difference the minute you step into Vistamas!”
he proudly disclosed.
Another pride and joy of Raymond is the KimCrest.
Situated in the growing area of
Puchong Hartamas, “this is going to be a very special gated link house community!”
exclaimed Raymond. Like the Vistamas, Raymond handpicked all materials from floorings
to tiles to paint colours and even the landscape designs.
“We are bringing the finer touches to KimCrest because I want to make this more
than the usual. Apart from the security, roads leading into KimCrest will be widened
and communal ground will be beautifully sculpted.”
The enchantment of KimCrest does not stop there. This freehold development will
be complemented with a large cascading resort pool from a soon to be developed niche
condominium in 2007. “The beauty of it all is that we are allowing KimCrest residents
to enjoy this facility as well. This will give them the feel of a pristine holiday
resort, better than the ordinary condominium pools.” explained a delighted Raymond.
“Again, we understand the importance of keeping costs low for the residents. As
such, the cost of maintaining the facility will be subdivided among all the residents
to keep it at the lowest.”
What next after Vistamas and KimCrest? “We are in no hurry to buy land or to build
additional homes outside our current projects now.” affirmed Raymond. “We will concentrate
on completing constructions in these land banks before we venture further.” In the
immediate future however, Capital Land is looking at building commercial projects
within the Klang Valley that would provide for long term income. This will keep
Capital Land occupied for a while.
For Raymond, he will be embarking on a personal property development project in
2007 while still steering Capital Land to greater heights, true to the mantra of
“sticking to what you know best!”. “This personal project is fulfilling a personal
ambition of doing something on your own.” shared Raymond.
For this tested home builder, Raymond will continue to unwind in the evenings before
the next wave of creativity surface to inspire his acute foresight for the next
pot of gold!
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