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Thursday, December 6, 2007

Mid Valley developer driven by vision

Mid Valley City would have been just another huge shopping mall had the developer ignored the expected demand of future consumers, said developer Goldis Bhd chief executive officer Tan Lei Cheng.

She said it was with this vision of anticipating future demand that Mid Valley now incorporates living, shopping and working elements to create a unique city environment within a city.

To achieve success from such foresight, however, requires a company that is driven by a good visionary leader, Tan said at a Malaysian Institute of Management conference in Kuala Lumpur yesterday.

She was one of the speakers at a session on "Building Further Success from Legacy Enterprises", moderated by Malaysia Airlines chairman Datuk Dr Munir Majid.

She said Mid Valley's estimated gross development value to date is RM5 billion and its most recent launch was The Gardens, a "less crowded" shopping centre due to its high-end concept.

Tan said Goldis - a merger between Tan & Tan Developments Bhd and IGB Corporation Bhd - has always believed that a company's legacy can continue its success if the people behind it constantly strive to undertake projects that meet what future generations want.

"You make a project not for now but for 10 years ahead," she said.

GE Southeast Asia president Stuart Dean, meanwhile, said the GE group also applies the what-customers-want approach when dealing with its investments in private companies.

"Customers want solutions, not products," he said, adding that GE now aims for organic growth compared to traditional mergers and acquisitions.

The group spends heavily on investment in customers, technology and innovation.

GE's research and development investment is expected to grow from US$700 million (RM2.3 billion) to US$1.5 billion (RM5 billion) by 2010, while revenue is seen to grow to US$20 billion (RM66,8 billion) by delivering customer value.

By New Straits Times

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