Go green, go digital and digitalize your asset by using blockchain is the way to go into the future, said Tan Sri Lee Kim Yew, founder of Golden Horse Investment Bank.
“As Malaysia adjust to the new normal, the trend in the property market is changing as well. Turning crisis into opportunities has always been my motto,” stated Tan Sri Lee during the 2021 Malaysian Housing and Property Summit.
The annual forum was held virtually on 27 July and organized by the Strategic Institute for Asia Pacific (KSI) and FIABCI-MALAYSIA. A line-up of industry experts shared their thoughts and insights on the property sector on the new normal.
Tan Sri Lee is also the founder of Country Heights Holdings Berhad. As an industry expert, Tan Sri Lee has more than 30 years of experience in the residential, commercial and leisure property industry through his Country Heights Group. Some of his major developments include Mines Resort City, The Mines Resort and Golf Club, Country Heights Damansara and Country Heights Kajang, GHHS Healthcare, Exhibition Centre in London, Palace of the Golden Horses hotel and many more.
“Malaysia is still facing a very deep crisis caused by the pandemic and a lot of external factors are beyond our control,” highlighted Tan Sri Lee.
As a way to boost the economy, he suggested the idea of attracting high-end tourism to Malaysia with longer visa periods. This will allow developers to rent out their high-end properties and at the same time attract high-end purchasers to visit Malaysia.
Tan Sri Lee believes that the Malaysia property market is resilient. After the pandemic, the property price will still be competitive. He stated that if the country has more political stability, works to create a better environment, and with a competitive currency rate compared to the US currency, the property industry might be the first industry to bounce back in Malaysia.
Tan Sri Lee added that the industry could not afford the current “open and close” policies which created a lot of uncertainties. In his opinion, all industries must organize themselves and set their own SOP for better forward planning. For example, industry players should work together with Ministry of Health (MOH) and National Disaster Management Agency (NADMA) to set up Covid-19 Low-Risk Quarantine and Treatment Centres (PKRCs) to take care of categories 1,2,3 patients from industries and only category 4 would be sent to hospitals. All work force must be vaccinated, if the numbers of category 4 patients exceed 1 percent, the industry deserved to be temporary closed down, since the SOP is set by each particular industry. He hopes the suggestion can be considered seriously by the government and industry.
“Malaysian developers, especially the younger developers, are quite innovative,” added Tan Sri Lee. In his opinion, Malaysian developers should come out with products that are link to the wellness, green and healthcare. The industry should not blame, but instead influence the government to come out with the right policies.
“We want to revive the property industry after the pandemic and difficulties in getting loans are some of the biggest issues for the industry. Therefore developers have to sit down and work with the banks as property is one of the main income sources for the banks,” he added.
“External factors are beyond our control. However, we still have a lot to do to overcome all the difficulties and crisis. Let us all stay positive, confident and make sure we put our country first. Put forward our thoughts and work with the younger generation to continue pushing forward our property industry,” he added.
Tan Sri Lee Kim Yew has established blockchain-based Golden Horse Investment Bank (GHIB) (LL16429) to provide B2B banking and payments services through its Banking-as-a-Service model based on the proprietary and blockchain technology platform.
GHIB is registered in Labuan International Business Finance Centre and has been granted an investment banking license by Labuan Financial Services Authority. It is currently using blockchain technology, artificial intelligence (AI), big data and other high-end technologies to build a comprehensive digital financial tool, enabling Golden Horse Investment Bank to serve the real economy with a revolutionary and innovative business model.
For more information about Golden Horse Investment Bank, please contact us on +03-8966 2432 or visit www.ghi-bank.com.