http://www.straitstimes.com/archive/...ength-20130812

Soilbuild soars on 4 pillars of strength

Property group's boss says being fair, grateful, different and relevant has set it apart

Published on Aug 12, 2013

By Rachel Scully


AS A co-founder of Soilbuild Group Holdings, Mr Lim Chap Huat believes that diversification for the construction and property group is par for the course in an industry that is cyclical by nature.

As a testament to that conviction, the executive chairman of Soilbuild, who has been in the property business for decades, launched the Soilbuild Business Space real estate investment trust (Reit) last week.

"Having a property fund management arm is part of the long-term estate planning and vision for the group," Mr Lim, 59, tells The Straits Times.

The launch of the Reit - comprising an initial portfolio of seven of its industrial properties - marks yet another milestone for Soilbuild, which first operated from a shophouse in the late 1970s. The diversified group posted revenue of around $390 million last year.

When asked what drove Soilbuild to success, Mr Lim says it boiled down to four areas: being "fair, relevant, different and grateful".

He says that Soilbuild has shown fairness to its 340 staff (including subsidiaries) by being open to feedback and criticism, as well as being fair to its shareholders by paying out dividends as the company grows.

Mr Lim also adds that the company dared to be different from its peers in order to stay relevant. He recalls how Soilbuild had built a ramp-up carpark in its 108-unit condominium, Millpoint, in Zion Road.

"Everyone thought it would look ugly having this additional structure, but we strongly felt that (the alternative of) constructing an underground carpark would be too expensive," explains Mr Lim.

A number of architects and developers, who had a look at the project when it was completed, complimented him on the carpark's aesthetic quality and on how it did not stick out like a sore thumb within the compound, he adds.

When it comes to showing gratitude, Mr Lim has demonstrated it by not retrenching his staff or cutting their salaries over the last four decades.

"Even during recessionary times, I'll tell them I can't give you a pay increment, but I won't dock your salary," he says.

Moreover, Soilbuild redeploys its underperforming staff to positions they are better suited for and that can play to their strengths, shares Mr Lim.

"Ultimately, if staff members feel they are not a good fit for the business, they will leave on amicable terms with the company," he says.

When asked what is the greatest challenge that the company faces, Mr Lim says it would be bringing in professionals who can think and work like entrepreneurs.

"A professional who's good at his work will work within the stipulated budget," he explains.

"But an entrepreneur will examine the project and ask: How can I maintain the quality yet be more efficient or reduce cost?"

Mr Lim adds that every entrepreneur is defined by his passion for business and willingness to work hard.

"That is why entrepreneurs tend to be more creative, have an expanded mindset and are prepared to take on more calculated risks," he says.

But Soilbuild's efforts to recruit such entrepreneurial-minded staff will not be easy as the construction and property development industry continues to be affected by the labour crunch. Many engineers and those trained in technical fields, such as quantity surveyors, prefer to take on jobs in the finance sector and other areas, says Mr Lim.

Soilbuild is therefore coming up with ways to fund scholarships and bursaries to attract local undergraduates to take on positions in the construction field.

Despite all the time he has put into Soilbuild to ensure the group's success, Mr Lim still believes that family is important.

One person who has played a key role in Soilbuild is his wife Leo Jee Lin, who joined the company in 1984 and now heads its marketing and leasing division.

Having his trusted companion and pillar of support by his side has been a plus, Mr Lim asserts.

"I'm very fortunate to have her in my team," says Mr Lim with a smile.

"All these years, most of my time is spent at work - so if she wasn't in Soilbuild, we would hardly get to see each other!"

Mr Lim also gives her credit for bringing up and imparting values to their three sons Han Feng, 27, Han Qin, 26, and Han Ren, 21.

Although they are grown up, his sons make the time to have meals with their parents at least once a week.

"When the boys were in primary school, my role as a dad was to drop them off in school by around 7.30am," says Mr Lim. "And that was when my fatherly duty for the day ended, because I was so focused on growing the business.

"If I'd any regrets in life, it would be that I didn't spend enough time with my sons," he says.

Nonetheless, he wants to make up for it.

"I'm looking forward to spending time with my yet-to-be-born grandchildren," he says with a laugh.

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