GROUP CEO MESSAGE
Group CEO Message
As a property player with core businesses in property development, as well as property investment and property management, EcoFirst has strengthened our position as a premier and progressive property developer, creating value for stakeholders, and maintaining dynamic and agile standards to deliver superior results professionally and ethically. We have been delivering on our rejuvenated and transformed business model for close to a decade now, and it could not have been done without our dedicated team of management and staff, with the guidance of a seasoned Board of Directors. Together, we strive to provide exceptional value to our customers through high-quality and well-designed residential and commercial developments.
Ampang Ukay – The jewel in our crown, our flagship development is an 87-acre mixed development project situated next to the affluent neighborhood of Ukay Heights in the Klang Valley. As one of the last large remaining freehold land in the Klang Valley, Ampang Ukay will consist of residential, commercial and retail units, catered to Malaysians from all walks of life. With a gross development value (GDV) of more than RM5 billion, Ampang Ukay’s development will keep up busy over the next 12 to 15 years, bringing EcoFirst to the next level of sustainable business from 2017 up to 2032.
Launched in March 2017, Phase 1 of Ampang Ukay, called Liberty@Ampang Ukay was crafted to be the starter home of choice for first time homebuyers comprising young professionals and young couples. As at the end of July 2018, we are proud to report that Liberty is 95 percent sold despite the current soft market environment. This overwhelming demand is a sound demonstration that we are able to identify and tap underserved market segments based on our value proposition of price, location and branding. We expect Liberty to be completed on time according to schedule in November 2019.
Kondominium Kelab Golf – Recently, we’ve also completed and handed over vacant possession for our 7.6-acre freehold luxury residential condominium called Kondominium Kelab Golf (formerly known as Upper East @ Tiger Lane) in the sought-after neighborhood of Tiger Lane, Ipoh. This luxury residential condominium, with 529 units spread over five blocks of 12 stories, has a GDV of RM328 million. Aimed at middle to upper-income buyers, it has been well received and is 87 percent sold as at end July 2018.
Property Investment & Management
South City Plaza (SCP) – Our five-storey shopping mall enjoys a high occupancy rate at 92 percent, thriving on its reputation as the number one location in the country for wholesale digital device accessories. SCP also renowned for its China porcelain, antiques and China products. Strategically located right in the heart of Seri Kembangan between the business and residential areas and shoppers will soon enjoy even greater connectivity with the upcoming linkage of the mall to the second Mass Rapid Transit (MRT 2) line. The improvements made to the mall has seen a more robust tenant mix resulting in a steady recurring rental income for EcoFirst.
As a conscientious developer, we are very mindful of the impact and influence as a business to our community. We believe in being a property developer with a social conscience, as well as an employer who values its people.
Our SCP shopping mall has been regularly used as venues for communities to conduct their charity events, such as free health screenings and blood donation campaigns organized by the Rizq Ar Rahman Charitable Labuan Foundation, S.L. Hing Blood Donation Campaign, Che Huan Khor Moral Uplifting Society Blood Donation, among others. We also proactively organized and volunteered our time to visit the aged community and raising funds for necessities.
In contributing to our environment, we’ve created a ZenGarden project located at our SCP mall, which is aimed at contributing back oxygen levels within a dense township area. So far, we have planted approximately 100 trees around the perimeter area of our mall and we’re thrilled that SCP ZenGarden will be maintained as an on-going feature at the mall. We aspire to enlarge the ZenGarden area in the future. Besides planting trees, we also run paper collection campaigns including cardboard carton boxes from our mall which are given to recycle paper collectors as part of our efforts to reduce EcoFirst’s carbon footprint.
Our team of people will always be EcoFirst’s greatest assets. We continually invest in them to ensure that they continue to hone their talents and skills with passion and energy. We always encourage upskilling and have in place training programmes that are aimed to ensure that our people are kept up-to-speed with industry innovations, this helps us remain competitive and continuously learn and contribute meaningfully to the business and the society.
We also organize staff gathering and team building initiatives to improve camaraderie and infuse a sense of belonging with all employees of EcoFirst. It is only through their engaged and motivated contributions that EcoFirst as a company is able to persevere through the challenges that we have faced, and leverage on opportunities that are presented. Our good results come from the collective and collaborative efforts of our great team.
Way Forward – Our Strategy To Deliver Growth
Our strategy to drive growth is through EcoFirst’s unique branding, product positioning and location. With this three-pronged strategy, we aim to deliver sustainable returns and results that not only exceed expectations but also empower our people to grow.
EcoFirst is now in a good position for growth, with low gearing and a strong cash position. To ensure we are continuously in a position to capitalize on opportunities for growth, we look to achieving stretch goals in terms of fast turnarounds to generate better cash flow.
We pledge our commitment to strive towards delivering greater returns from our potential in the future ahead.
Dato’ Tiong Kwing Hee