Quek Wee Siong chats with us about what to expect in the upcoming REHDA CEO SERIES and Housing Conference 2019.
Written by Felicia Soon
Info compiled and edited by Gunaprasath Bupalan (YouTube – Emjay Communications, The Malaysia Global Business Forum, News Hub Asia, Property360Digest)
Quek Wee Siong graduated from University of Nottingham, Malaysia Campus. His background is in chemical engineering. That was his major in university.
Quek is one of the founders of MHUB. He started the company in 2015 along with three other partners who saw the difficulties that home buyers were facing in the market such as getting their loans approved to which bank to apply to and also where to get the information.
“I had this issue when I booked my first property; one of the residential units in Kuala Lumpur that I book in 2013 or 2014. It took me months to get the loan application done by the first bank that was recommended by the developers. Hence, I asked a friend of mine, who used to work in a bank to introduce me to his colleague and it only took one week for my whole loan to be processed. I find out that if I do not know this friend then I would be getting the yield from the unit that I invested in. This experience stimulated me to venture into proptech with a bunch of my other colleagues to resolve this issue,” says Quek.
How does the MHUB business model work?
MHUB uses a property transaction business model. We help to streamline the processes from the start where the developers or agents get leads and follow up with making a booking.
Back then developers have been using pen and paper to capture the bookings and update the sales charts using stickers up till the loan application, contract signing and sales and purchase agreement.
“When I dealt with all this, I felt that it was too much time wasted in understanding the entire home buying process. That is the reason behind why we decided to build an app to help developers to streamline the process of capturing the booking, understanding the customer loan eligibility behaviour up to digitising the entire contract signing,” shares Quek. He adds that the team has grown from four of us to 35 and are still growing to date.
Strategic event partner of REHDA CEO SERIES and Housing Conference 2019
MHUB were one of the earliest sponsors to the first CEO series and even last year we were one of the main sponsors to REHDA CEO Series and also housing conference.
“Since day one, we always wanted to be part of REHDA Institute’s ecosystem because the members of REHDA are our direct customers so they are the direct benefices of what we have developed and what we intend to build. We want to be the transaction player in the market to help property developers to streamline the whole process.
As the strategic partner of REHDA CEO SERIES and Housing Conference 2019, it will help to open more venues for us to market our products to the right crowd with the right message to the parties involved or perform the decision making for all the property developers companies in the South East Asia (SEA) levels and inform the Head of Departments (HODs) that there is an uprising of proptech players in the market called MHUB who are here to help you and be your technology partner to reduce all your operating cost to streamline the processes as well as to reduce the turnaround time for every booking,” explains Quek.
He adds that REHDA CEO SERIES and Housing Conference 2019 is one of the most important and prestigious events to be organised by REHDA Institute. This conference will give an outlook of what to expect in 2020 and what is the government direction in 2020 as there will be a lot of sharing on insights by the industry players not just domestic but also from international speakers and players who will talk about what is happening regionally the opportunities available in other regions. 
There will also be a slot talking about property technology i.e. big data, artificial intelligence and how the uprising of property technology can help property developers to improve their internal processes as well as to achieve higher sales revenue.
How can we make the best use of big data and analytical tools to understand the property market?
According to Quek, the industrial landscape is moving towards Industrial 4.0. are people are always talking about the Internet of Things (IOT).
“However, before you make use of big data and analytic tools, you need to connect all the data points. There is a trend to connect the hard wares and soft wares to the servers before applying the big data analytic tools to help stakeholders, property developers, property buyers and property agents to make informed decisions and also to leverage data to predict on where we should invest, why the property should be priced at this and so on,” says Quek.
As to how artificial intelligence is changing the landscape of the property industry, Quek reinstated that we should first and foremost study the consumer behaviour before applying artificial intelligence into property management and also property matchmaking transaction.
“Moving forward, I believe there will be a trend where we will see more super agents. Maybe one agent can only manage 100 properties but with artificial technology, they can handle 1000. This is because artificial intelligence will move things faster and you can automate how you do lead management, response to any lead inquiries coming into your portal. There are a lot of artificial intelligence boards out there who are currently doing the automated response inquiry.
All these features can be done automatically and agents just need to handle the inquiry when they reach the very last stage where human interaction is required to do the final closing,” says Quek.
Last but not least, Quek states that the REHDA CEO SERIES and Housing Conference 2019 is a good place to gather information and valuable insights and he hopes that these suggestions and comments by the industry experts will be forwarded to the respective authorities for policy planning and implementation in the years to come.
-End-
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
MGBF founding chairman Nordin Abdullah and UMW Toyota president Datuk Ravindran K. will delve into the convergence of automotive innovation and environmental sustainability in Penang, Sarawak, Johor and Pahang.
Hosted by menumiz™ – an end-to-end restaurant management system – this roundtable will feature a case study presentation and a panel session to discuss the latest digital trends, challenges, and opportunities within the food and beverage sector.
In this episode of 'A Working Lunch with Nordin', MGBF's founding chairman, Nordin Abdullah, will host this discussion focusing on the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will focus on regional food security issues and trends in the regional supply chain, and trade regulations and policies, including a new geopolitical tool i.e., weaponisation of supply chains.
MGBF In The News
Planet QEOS, KIS BlOCNG San Bhd, and the Sarawak Land Consolidation and Rehabilitation Authority (SALCRA) have officially signed a tripartite memorandum of understanding (MoU) to establish a collaborative framework aimed at producing bio-hydrogen via the Steam Biomethane Reforming (SBMR) Process. The MoU was signed by Planet QEOS executive chairman Dino […]
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
