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Show Notes
Chan Kin Meng, Executive Director at Beneton Properties and Committee Member of REHDA Youth, explains why the company prefers to remain a boutique player despite a possible industry shake-up if the government implements the build-then-sell (BTS) policy in 2015. He says at this point there are no immediate plans to merge with another player. The BTS policy will cause output to shrink by 60% or for the same output, it may raise cost by 50% due to higher financing cost. Chan also talks about regenerating and re-using old developed sites like in Sentul and Jalan Ipoh but careful studies have to be done and the place properly managed in order to realise its full potential. REHDA Youth is working on promoting the green agenda.
Beneton Properties was founded by Chan's parents in the 1970s, and in recent years, its projects include Stonor Park and 2Hampshire in KLCC and Bangsar Peak, and Viva Mall in Jalan Ipoh. Its upcoming development is a build-then-rent (or build-then-sell) project alang Jalan Penaga in Bangsar, and projects in Kota Damansara and Wangsa Maju.
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