MENTION “mapping” in the property scene and one brand almost always comes up in people’s minds is Ho Chin Soon Research. From its humble beginnings, Ho Chin Soon Research has grown to be a prominent presence in the real estate fraternity with its maps providing valuable insight to developers and agents. Its chief executive officer Ishmael Ho, in an interview, recently spoke on taking over the mantle from Ho Chin Soon, the founder who is also his father, his plans for the business and what to expect this year.
Question: Ishmael, what were you doing prior to Ho Chin Soon Research?
Answer: I graduated from my studies in law about five years back. While my classmates were practising lawyers, I took a different path and delved into property, becoming an intern in firms like Chur Associates, looking into property from a legal perspective; and I also joined Cushman & Wakefield. I was also part of the research house at Sunrise Bhd (now UEM Sunrise). I first joined Ho Chin Soon Research as its special project manager.
Q: Why did you decide to enter this niche sector in the property field?
A: This has to do with my upbringing. Whether you consider it a curse or blessing — I’ll let you decide — both my parents are property valuers. Not practising, but they are in a unique line, which is property mapping. The property mapping that Ho Chin Soon Research does is one-of-a-kind in Malaysia — no other company is doing what we do. In terms of succession planning, it turned out that I fit nicely.
Q: Why did you enter Ho Chin Soon Research, rather than strike out on your own or work somewhere else?
A: As I mentioned earlier, I graduated five years ago. If I pursued being a lawyer, it would take a couple more years. Taking that time would mean that my father would be in his sixties by then. As a son, I thought that maybe I should try to help him out, that he can relax and not worry about the company.
Q: What were the challenges that you faced when you took over as CEO?
A: Coming into a company like Ho Chin Soon Research is different from a startup, with its legacy issues and the presence of senior staff. But I’m glad for the support given by people and that I am able to learn the tricks of the trade fast.
It’s not a big business — we only have about 20 people — but we’ve been in the business for almost 30 years. A lot of our staff have been with us for 10 to 15 years.
Company culture is also a challenge — it’s easier to change your mindset than say, change the mindset of all the staff. Another challenge is to work on successful products and how we improve on our offerings. If we don’t innovate, we die.
Q: What are the key locations that Ho Chin Soon Research maps out?
A: Currently at Ho Chin Soon Research, we are selective in our mapping. We only map a few key areas — Greater Kuala Lumpur, Klang Valley, Iskandar Malaysia and Penang. Recently, we added Seremban and Port Dickson, and even some areas like (those in) Kedah and Perak, which we customise for our clients. We have extended our product list, which the property developers and agents are very happy about. We aren’t just a research house; we see a potential product, we develop it, we market it, and we service it.
Q: How has mapping technology differed now from when the company first started?
A: If you want to go all the way back to day one of Ho Chin Soon Research, mapping was done by drawing with tracing paper and stationery. As you put more information on it, it gets more valuable. The business has also changed.
We started using drones about four years ago. However, strictly speaking, the drones are an additional tool that helps us out. We can still do our mapping work effectively without the drones. When we started using drones, we went to the industry and encouraged agents, developers and valuers that they should get their own drones.
Q: Aside from drones, what other technologies are you employing in the business?
A: We are recently exploring technologies like AR (augmented reality) and VR (virtual reality) to project more information on the maps. We also provide such ancillary services to our clients. I co-own a technology company and we use those skills to provide these services. A few years back, we started with a map which, when paired with an app, will show you extra information. We haven’t fully tapped AR and VR yet in the industry.
Q: Ho Chin Soon Research has also published multiple books in recent years. Any upcoming books people can look forward to?
A: We are now looking to print our next book. Our previous book was on this big idea of a high speed rail connecting Kunming, Iskandar and Jakarta.
Our next book is on Kuala Lumpur’s hotspots in the past, present and future. We have a lot of aerial shots of Kuala Lumpur in our archives, when areas like Bangsar South and KL Sentral were still non-existent. If KLCC is currently the city centre then it’s safe to assume that TRX (the Tun Razak Exchange) will be the CBD (central business district), an icon. It’s exciting to see Kuala Lumpur’s transformation!
Q: What are your plans for expanding the business?
A: Over the course of our business, we’ve had enquiries and requests to do mapping beyond local and regional shores. One of my plans is to expand Ho Chin Soon Research globally. One of the steps towards that is our recent expansion to Johor. For 2018, our focus is on strengthening our presence in Johor. Next, if it’s not Penang, then another country perhaps.
Q: What do you think should be the current priorities for people at this time?
A: In our previous book, I mentioned that Mandarin is the language of wealth. If there’s anything we want to get across to our readers, it’s to get equip yourself with Mandarin. I can’t read and write for the time being, but I can converse in Mandarin. Those who do not have Mandarin in their skillset should be nervous, even if you don’t feel it now.
Aside from that, a lot of young adults have yet to buy their own house; these people should start looking into it and take action.