Journey is as important as results, says Tee

THIS week we get thoughts and views from stock exchange listed construction and property company Kerjaya Prospek Bhd executive chairman Datuk Tee Eng Ho.

1) What traits do you look for in your talent or how do you decide who is right for a job?

Apart from excellent academic qualifications, what brings out the most of a person is their attitude. We believe that with the right attitude and mindset, anything is possible.

2) How do you think the industry you are in will evolve in the future?

In my opinion, the dependence on labour will reduce significantly and will be replaced by technological advances in equipment and machinery. Contractors like Kerjaya Prospek have foreseen that the reliance on foreign labour in the construction sector would impact profitability as wages continue to rise, and have invested in alternative method that minimised the reliance on labour. These technological advances will continue to improve and further reduce the reliance on labour and help us complete projects even more effectively. All in all, this bodes well for the industry as a whole as it drives us to continually improve ourselves.

3) What advice can you offer those looking to start their career/own business?

I believe it's essential to plan thoroughly and be aware of the potential risks and rewards. In addition to that, patience is very important. Being impatient can lead you to make rash decisions and take unnecessary risk. Don't forgo long-term prosperity for short-term comfort.

4) We all know about the industrial revolution, are we in for a technological revolution? Your thoughts.

In my opinion, I believe the industry is gradually moving on with technological revolution. Throughout the years, Kerjaya Prospek has invested in "Industrialised Building System" (IBS) to reduce our reliance on labour and increase efficiency and quality. For a premium high-rise focused contractor like us, this system enables us to complete projects with the desired quality, faster completion and with less manpower required on site. We have started investing in the IBS back in 2011 and since then; our earlier IBS capital investments have given us the edge against our peers in the industry.

5) How has mentorship made a difference in your professional life?

I have had many important mentors both past and present. I believe having a mentor is important for success but one needs to forge his / her own path. There is no straight line to success.

6) What do you want to accomplish in the next five years?

My personal target is to always keep improving, my wish is for this year to be better than the last and next year to be better than this year. I believe that the journey is as important as the results. We should always strive to do better and do things the right way.



7) How do you stay abreast of issues affecting your industry?

Over the years, the construction industry has become increasingly competitive as many contractors compete on prices. This makes margins very thin and leaves a low margin for error.

Kerjaya Prospek does not compete on prices, we focus on our superior expertise of constructing high-rise premium projects while delivering professionalism, efficiency and quality. We have proven ourselves in the industry and have longstanding relationships with all the premium developers in the country.

Kerjaya Prospek keeps its "ears" on the ground and constantly gets feedback through many quarters that includes developers, sub-contractors, supplier etc in order to respond to any issues and changes affecting the industry.

8) What has been the biggest challenge you faced? What did you learn from it?

We have been in the construction and property businesses for a long time. All challenges are handled with careful planning and thought-out execution. However, if I were to name one of the "biggest challenges" that I have come across, I would refer to the year 1997/98 where the Asian financial crisis hit many countries including Malaysia. That year interest rates sky-rocketed and many developers were financially impacted. As a main contractor to a developer, we had to manage long deferred payments from them and concurrently had to negotiate and manage the many sub-contractors that required us to continue to pay them.

Post crisis, we emerged as a trusted and stronger partner with the developer and earned the loyalty of many sub-contractors who survived the crisis. Many of these partners continue to be our current developer and sub-contractors today.

9) What are the top three factors you would attribute to your success?

Firstly, Kerjaya Prospek has invested in "Industrialised Building System" (IBS) to reduce our reliance on labour and increase efficiency and quality. For high-rise focus contractor like us, this system enables us to complete projects with the desired quality, faster completion and with less manpower required on site. We started investing in IBS since 2011 and the result speaks for itself.

Secondly, we keep a close eye on many "on & off-site" cost factors. Some of these factors include implementing strict control measures at our site, supply chain and operational areas. With controlled multi-tasking and working as a team, our administrative expenses are maintained at our targeted levels and deriving competitive purchases of the Group via our strong cash position.

Lastly, we carry out all our projects with the same importance and interest. We make sure that every project we undertake is completed on-time, within budget and of the highest quality. These traits are very important in the "premium" development segment. As a result of our performance, our clients have full confidence in our ability to execute any project.

10) Best piece of advice you ever got on your career.

Every success starts with a decision to try, but do not take risk blindly, take calculated risk.