Always uphold core values

The "Captain" of Gamuda Land Vietnam: Always Upholding Core Values

Gamuda Land Vietnam is making strategic adjustments to seize opportunities and achieve new levels of growth.

After 16 years of living and working in Vietnam, Malaysian businessman Angus Liew Bing Fooi has achieved a significant and highly reputable position in the business and real estate investment community. As Chairman of the Board and legal representative of Gamuda Land Vietnam Joint Stock Company, he plays a key role in shaping the strategy and development of this billion-dollar enterprise in the Vietnamese market.

Mr. Angus Liew Bing Fooi, Chairman of the Board of Directors of Gamuda Land Vietnam, shared that , steadfast in its goal of being a leading urban developer, Gamuda Land always upholds its core values: sincerity, responsibility, and pioneering spirit.

Having lived in Vietnam for over 16 years and witnessed its urban development over the years, what has impressed you the most?

I appreciate the Vietnamese government's focus on infrastructure development in recent years, as infrastructure development has been one of the main drivers of economic growth over the past decade. Vietnam is prioritizing investment in transportation infrastructure, especially road networks, airports, and seaports.

Focusing on infrastructure development not only meets the requirements of investment projects but also promotes economic growth and creates more jobs. Furthermore, the rapid pace of urbanization in Vietnam is a strong driving force for the development of transportation and amenities.

In particular, the opening of Hanoi's first urban railway line in 2021 and Ho Chi Minh City's first metro line, scheduled to be operational in 2024, are highlights in the urbanization process, contributing to creating favorable conditions for socio-economic development and promoting the shift in economic and labor structure towards industrialization and modernization, which Vietnam is striving for.

From a more personal perspective, what led you to choose Vietnam as your place to live and work?

After completing my civil engineering studies in Australia in 2000, I returned to Malaysia, where I gained valuable professional experience in real estate development and construction.

In 2008, my company sent me to Vietnam for work. At that time, Vietnam was an attractive destination in the region, offering many opportunities for investors and not being severely affected by the 2007-2008 economic recession.

After living here for a while, I've fallen in love with Vietnam and want to continue working here for even longer. Vietnam has a unique and accessible culture, and its people are friendly and eager to learn. These are the reasons I want to connect more with this country. I've also learned Vietnamese so I can understand and easily communicate with friends, colleagues, and staff, and I'm very happy about it.

Having lived and worked in Vietnam for over 16 years, I have come to regard Vietnam as my second home.

How did his years living and working in Vietnam change him?

I think the way I run my business is just like the way I live my life! As a “Gamudian” (a member of Gamuda), I always adhere to the core values: sincerity, responsibility, and pioneering spirit.

Having lived in Vietnam for over 16 years, I have gained a deeper understanding of the land, culture, and people here. This has also greatly helped me in managing Gamuda Land in Vietnam. We are still striving to fulfill our commitments to sustainable development, environmental care, and corporate social responsibility (CSR) activities... in order to bring the best benefits to the lives of the Vietnamese people.

Could you share some information about Gamuda Land's business operations in Vietnam over the past years?

The overall economy and real estate market underwent significant changes in 2023. Despite both the challenges and opportunities presented by the economy, Gamuda Land maintained stable business operations and achieved new milestones.

We have completed three mergers and acquisitions (M&A) projects in the past three years. Since 2020, we have shifted our strategy from urban development to projects with a faster capital turnover rate and continued land bank expansion.

With this strategic business plan, over the past 2-3 years, Gamuda has mobilized capital to meet future needs, as well as built a strong workforce capable of actively seeking new projects and signing more deals. When opportunities arise, we must seize them to achieve our business goals.

Why did Gamuda Land shift from developing large-scale urban developments to developing projects with a fast capital turnover?

Essentially, we proactively developed a strategy for rapid capital turnover to supplement our business model, alongside our existing new urban development model, in order to increase the return on total capital employed by the enterprise.

Gamuda's rapid capital turnover strategy aims to create a "chain" of projects. When one project ends, another begins, and the capital/income from the previous project is reinvested in the next. This chain provides stable growth for Gamuda Land.

Regarding this strategy, I would like to emphasize two aspects.

Firstly, our strategy is to diversify our product portfolio to realize Gamuda Land's strong capabilities and groundbreaking comprehensive planning methodology through M&A strategies and the development of projects with a fast capital turnover, such as high-rise mixed-use complexes and commercial townhouses.

Secondly, we strike an optimal balance between Gamuda Land's large-scale urban development projects and medium-sized, fast-turnover projects. We pursue this strategy while remaining steadfast in our goal of being a leading urban developer. While developing large urban areas requires higher initial capital and longer payback periods, we are balancing this strategy with smaller-scale development projects that we believe can recoup their investment within five years of commencement. After five years, we will be able to reinvest the capital generated from fast-turnover projects into other new projects.

What will be the focus of Gamuda Land's development strategy in Vietnam over the next 10 years, sir?

Expanding our land bank is our top priority right now. Securing a sufficiently large and legally sound land bank is the biggest challenge in developing integrated urban projects in Vietnam today. This is especially true in major cities like Hanoi and Ho Chi Minh City, where land is becoming increasingly scarce. Finding a large plot of land like Gamuda City (274 hectares) in Hanoi or Celadon City (82 hectares) in Ho Chi Minh City is virtually impossible at this stage. However, we remain committed to our sustainable development strategy in Vietnam.

As mentioned above, we are very interested in diversifying our product portfolio in Vietnam. Continuing to expand our operations in Vietnam is a crucial strategic step towards achieving our revenue and product portfolio diversification goals, aiming to introduce 10 to 15 new projects to the market over the next 5-10 years.

In particular, Gamuda Land is one of the first developers in Vietnam to incorporate environmental, social, and governance (ESG) criteria into its projects. We are proud of the green bio-gardens in our projects, which keep the entire interior and exterior covered in greenery. Our carefully considered master plans also harmoniously integrate all key elements, encompassing all aspects from architecture to appropriate facilities and amenities, parks, and landscaping within the projects.

During the procurement of construction materials, we apply various ISO standards and implement a process for recycling materials, components, and household waste. Gamuda Land also applies green standards such as LOTUS and LEED to its projects in Vietnam.

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