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In Malaysia, a growing demand for affordable housing, along with increased family income, is leading to a boom in higher-value products in the industry. As a result, it is projected to grow at a compound annual growth rate of 5.9 percent from 2025 to 2033, according to research company Data Insights Market.
Two companies in Negeri Sembilan – Cangkat Hartamas and Karisma Perwira – are working tirelessly to transform the landscape and the lives of residents. Both companies were established by Lee Tian Hock, a widely respected and award-winning businessman and philanthropist, who appointed Vincent Ng to serve as CEO for both organizations.
Cangkat Hartamas is a small outfit housing developer with the mandate to groom future property development executives as part of a succession plan for the Founder’s publicly listed company.
“At Cangkat Hartamas, we specialize in developing high-value landed homes, outside major city centers where margins are tight and communities have strong expectations,” Ng says.
“We address this by applying strict cost control, efficient land use and engaging with local authorities early in the planning process. This ensures our developments are financially sound, feasible and socially relevant.”
“We specialize in developing high-value landed homes, outside major city centers where margins are tight and communities have strong expectations.”
Karisma Perwira is on a mission to create a new market, as the city of Seremban is known for its good-value landed properties. Its market research shows there is an an increasing demand for good-quality high-rise serviced apartments, where prospects value security, privacy and convenience.
Karisma Arena, a multipurpose sports complex, is the Founder’s personal lifelong ambition, but is not appropriate to deliver under the public company to avoid shareholder conflict.
“We are currently restructuring our two businesses into a single holding company,” Ng explains. “This is not just an administrative activity, we also want to combine them culturally.
“Typically, when a workforce operates under two different companies, wearing two different hats, they have different interests, which can cause problems. We think that by integrating these two companies, we can even be stronger.”
Ng succeeded Kelvin Lee, who has played a very crucial role in the financial management and planning for Cangkat Hartamas and Karisma Perwira, resulting in where the two are today. Lee, the son of Lee Tian Hock, is currently the Group Executive Director of Matrix Concepts Holdings, also founded by his father.
It is Lee’s vision to synergize the two companies and it is now Ng’s mission.
As the CEO of two companies, Ng admits that managing people is his biggest challenge and regularly draws on his past experience working in corporate real estate and the MBA course he completed to effectively align the objectives of the different stakeholders he works with.
“What sets us apart is our commitment to discipline, alignment and communication,” he says. “We have built a culture that respects processes without stifling creativity.
“Every department understands the strategic objective of how its work contributes to the bigger picture. This clarity empowers performance and has allowed us to successfully balance affordability with quality housing.
“My philosophy is built on clarity, trust and servant leadership. I believe in leading with a clear sense of purpose because when purpose leads, performance follows.”
Ng has put this philosophy into practice through the launch of an internal transformation initiative called Project Tong Xin (‘One Heart’).
“This is designed to align everyone around our strategic goals over the next two years. It’s a reflection of our belief in unity, shared ambition and the heart of leadership, bringing people together,” he says.
“We started by identifying the leadership team within the organization, making sure it is a top-down approach, and encouraged them to engage one another with mutual respect and understanding, beyond just treating each other just as colleagues at work.
“We are trying to instill a sense of belongingness with the company, which in turn will make it easier to be aligned in terms of the company’s direction.”
As property developers, Cangkat Hartamas and Karisma Perwira work with many different subcontractors, but according to Ng, there are significant opportunities in how all stakeholders work together.
“We are currently reframing the optics of how we view our suppliers,” he confirms. “We view them as partners, to be honest. This not only applies to our consultants, contractors and suppliers, but we also view local councils and bankers as an extension of our ecosystem.
“We believe that strong partnerships are built on mutual respect, transparency and shared success. We don’t just engage partners for services, we include them in our journey, we align them in our project goals and we expect that from the start.”
“What sets us apart is how we frame our shared challenges constructively.”
Some of Cangkat Hartamas and Karisma Perwira’s most important contractors include Y & Y MIX, which specializes in ready-mixed concrete production and supply, and Feruni Ceramiche, a leading porcelain and ceramic tile company.
“What sets us apart is how we frame our shared challenges constructively,” Ng explains. “We believe in proactive communication and taking ownership, especially in moments of pressure.
“That culture has helped us retain long-term partnerships, even as we expand into new markets like Sarawak, which we see as a key growth opportunity.”
While Cangkat Hartamas and Karisma Perwira take the necessary steps to merge into a holding group, construction continues across Negeri Sembilan, including Taman Shorea Hartamas, a beautiful new residential and commercial project, 25 minutes south-east of Port Dickson.
This is just the next chapter in the ongoing story of transforming Malaysia’s property sector, all of which would not be possible without the support and commitment of Founder Lee Tian Hock and his spouse, Yong Chou Lian.
“This is a fast-paced industry and quite multi-faceted, where you deal with people from many different backgrounds, but for me, that’s the most interesting part,” Ng says with a smile.
“That’s why it’s crucial to lead with purpose, not position, and perhaps most importantly, always love what you do.”
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