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> company director resign, 200+ ppl follow him, everyone boikot kompeni liao

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ChAOoz
post Jan 22 2014, 12:26 PM

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An infrastructure without pillars is a crumbling one. But then should have seen this coming, not like this is a mutual deal.

I think saw somewhere from last year interview he did mentioned "losing the battle" and will be retiring soon, but wishes to remain until all the projects launch under his care are fulfilled before he stepped down.

Must felt good seeing the loyalty of his staff if this is true flex.gif
ChAOoz
post Jan 22 2014, 12:47 PM

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QUOTE(+3kk! @ Jan 22 2014, 12:31 PM)
i suspect,

i mean SP Setia got big in a very short period, in a market full of very dominant developers like Sime, YTL, See Hoy Chan, Alan Tong's Kiara Properties. in the developer market,  theres a lot of dirty stuff, its known to be one of the dirtiest industries in malaysia for a reason.

suddenly a wild SP Setia appears, with royal family history, a sudden CEO in liew who was never heard of and had only 1 successful project prior to SP Setia. becomes one of the biggest developer in malaysia?

dont sound fishy to you?
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Not every success is attributed to crony-ism. And with such a big company sure you have these deals, but its not the lifeblood of SP.

I would say what separates SP from the rest when they are big is good leadership, management and a cohesive workforce.

When they are small, what makes them difference is the way they are able to market their project, and also their ability to secure financing when confidence is low. Those are skills not all incoming CEO is able to replaced.
ChAOoz
post Jan 22 2014, 01:05 PM

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QUOTE(spacelion @ Jan 22 2014, 12:55 PM)
How long have you worked in construction industry, my dad has retired after 35 years and I trust him when he says that without cable you can't get big project in this country.
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I'm not in the industry. So yeah im naive in this.

I think I express my point wrongly. I mean SP success is not like "eh son, i got this big ass land bank, nah take it and do something with it".

It's more like Liew & Friends, work hard to market and sell SP, attracting people with deep connection. Not like the cable is a birth right to him. If it is he would be sitting at a directorship at age 30 and not working for a bank and subsequently a failed developer.
ChAOoz
post Jan 22 2014, 01:51 PM

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QUOTE(cfa28 @ Jan 22 2014, 01:43 PM)
Its not my mindset but the general perception that the construction industry is heavily reliant on foreign (cheaper) labour.  Granted some more technical areas requires people with higher skills.

Perhaps SP Setia employs qualified 'Wire Men' to do the wiring.  But this is hardly a competitive advantage.  In Property, key success factor is Land Bank.  Unless PNB screwes up BIG TIME, Setia Walk, Setia Eco Park will continue to draw buyers in the future.

You cannot make Land.  Granted Liew will have connections to get Land but will the location be as good?  Granted he had foresight to buy the Land from See Hoy Chan back then but to replicate such success again will not be so easy.
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That is true, if you are an investor SP is pretty beat up now but they still got good assets under them, even stripped bare should still fetch quite a significant value. But not advisable to grow old with them laugh.gif

This post has been edited by ChAOoz: Jan 22 2014, 01:55 PM
ChAOoz
post Jan 27 2014, 12:19 PM

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QUOTE(Kravo @ Jan 27 2014, 11:38 AM)
so liew is the legend, no one can be better than him?
he will be forever good and young, no youngster can best him?

if he is that good, then all other property companies can close door liao mah.
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Yeah there is bound to be some other company that can be better than Liew's team, but i don't think Setia will be their main threats, not for now atleast.

Unless they wanna dry up setia cash reserve and hire a whole group from some other companies over, else it will be a painful restructuring to get the company on its feet again after such as major blow.

This is a high profile case, but in the background many companies that have been absorbed have proved unable to sustained the growth they once enjoy without the original management team
ChAOoz
post Jan 27 2014, 12:28 PM

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if just replace for the sake of replacement wont the company go down pretty fast. Its true if you don't want a job sure someone will take it up.

But then who wants to lower down the performance with each new hire.

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