| Mapping the potential |
|
|
|
| Monday, 18 December 1995 00:00 | ||||||||
|
A conglomerate exploring business opportunities in the Klang Valley a few months ago, through its research, concluded that the Klang Valley holds good investment potential. At a strategy meeting, a large map of Klang Valley produced by property researcher Ho Chin Soon Research Sdn Bhd was displayed. The map showed, through its various colour codes, forest reserve land, Malay reserve land, estate land. Land ownership were also listed. Accompanying the map was a book with more detailed information on the owners and land titles. It helped the conglomerate zoom in on a large piece of estate land. Eventually, a 600 million deal was closed, and the conglomerate obtained a strategic land bank in a potential growth area north of Klang Valley. They bought the map for RM$800. For the past seven years, Ho Chin Soon's colourful maps have filled a special niche in property research. Ho tells that the concept behind his maps is simple. "We do pure property research based on public records and we present the information in maps. From a modest one-man show operation from his home, Ho now partners his wife, Haslina Yacob, in their 10-employee team. They have opened a representative office in Singapore. The focus of his maps has moved from Kuala Lumpur, to the condominium belts, various parts of Klang Valley, to Seremban, Johor Bahru and most recently, Singapore's orchard road. A Klang Valley-based property developer admits he is an admirer of Ho's research work. "Anybody who knows the property business will tell you this is valuable information that requires painstaking research and compilation," he says. "With these maps we know where our competitors' interests are, and we know where potential acquisitions can be found. Basically, we know everything there is about the land. Years ago, I paid my "spies" a lot of money to gather information and it was only a fraction of what is on this map." Ho says the research work at his firm is essentially exhaustive leg work with attention to detail. The research process can take between three and five months, depending on the complexity of the area covered. A team of researchers are sent out to literally cover the streets and mark every piece of land. Interviews have to be conducted to identify owners and tenants of buildings and offices. Titles and records at the Land Office are searched and recorded. Roads, government land, Tenaga substations and public land also have to be identified. They are then compiled for drafting and printing. "We only deal with pure property facts. We feel that the map we do presents you with everything. We inspect every property. Every road we see must be charted. Every piece of land must have its title searched at the land office. There's no cheating when it comes to presenting out property facts," says Ho. He stresses the independence of his research. "There are different areas in property search: land use and ownership patterns, land economics, feasibility studies and market studies. Our speciality is mapping based on public records and facts. We put every bit of information on our maps. We don't do agency work, and we certainly do not sell land as a side business, so we don't hide any information. "Essentially, the use of a piece of land is constrained by the character of the neighborhood. You'd have to understand the patterns of growth and the constraints to that growth. Many have found Ho's maps useful, and they continue to flood his office with requests for more updates and information. "Now, there is more recognition for what we do, unlike the difficulties we faced when we just started out," he remembers. We used to present the maps and some of the managers would just turn their heads and ask what they were. Now, when we show them to the big corporate players, they pay cash without hesitation, and they ask us how we survive with such a cheap price."
Only registered users can write comments!
Powered by !JoomlaComment 3.25
3.25 Copyright (C) 2007 Alain Georgette / Copyright (C) 2006 Frantisek Hliva. All rights reserved."
|
||||||||