Lim Poh Yit

Deputy Group Managing Director, Titijaya Land Bhd

It is a given that all family businesses are built on family ties. And, for Titijaya Land Berhad, a property development company with almost two decades of experience, the strength of the bond between its founder, Tan Sri Dato’ Lim Soon Peng, and his children, Lim Poh Yit and Lim Puay Fung, both of whom hold high-ranking positions, is certain to see the company flourish further. For Poh Yit, Titijaya’s Deputy Group Managing Director, the stakes are high and foremost on his KPI list is to ensure the company reaches a targeted turnover of MYR2billion. “I certainly feel the pressure,” says the soft-spoken Lim. “My sister and I were raised with much better resources as compared to my father. And, deep within me, with such a privileged upbringing, I would feel thoroughly ashamed if I cannot lead the company to higher heights.”

Certainly, he has big shoes to fill. After all, many people in the industry would have heard of Tan Sri Lim’s amazing story of perseverance and sheer hard work. Hailing from a humble background, the elder Lim only made do with five years of schooling, dropping out at the age of 12 in order to eke out a living as a labourer at the Klang market. Fast forward to the year 2013, a jubilant crowd could be seen cheering him on as he struck the gong marking Titijaya’s successful listing on 27 November on the Main Market of Bursa Malaysia, going on to debut firmly at MYR1.80, 30sen above its offer price. “We just celebrated our first anniversary recently (of going public),” shares the younger Lim. “That had to be one of my career highlights to date.”

With the stage set for him to one day lead the company, Lim is focused on keeping the company on its steady uptrend growth by adapting and adjusting, where necessary, to the ideals his Western education has afforded him. “We’re on-track with our yearly land banking targets, which we work hard at. And, in terms of the big picture, Titijaya already has everything in place. We have big projects in hand, like Glenmarie Shah Alam, KL Sentral and Penang, which, when combined, bring us a total GDV of MYR6.1billion. We are also in the midst of finalising another project in KLCC, which has a GDV of MYR3billion. All these are in place so the onus is on us now to execute… and to execute it well. Right now, I’m working hard to build up our people, company culture and infrastructure,” he says. “Going public has made the availability of capital so much easier, so now our main focus is in our people.” Still, change never comes easy. More so for a company that is slowly making the transition from a small, family-run company to one that has to answer to the market and its shareholders. “For sure I faced challenges,” laughs Lim. “I joined the company as a fresh graduate, just 22 years of age. Also, there are many things to be sensitive of in a family-run business… things which you just don’t learn in business school. I learnt how to be open-minded and take things in my stride, with a big and open heart.”

A Computing graduate from Australia’s Monash University, Lim has already chalked up an impressive decade of experience with the group, having started at the bottom as a Business Development Executive in 2004. “It’s been a great learning curve, especially seeing how hard my father works,” he shares. “Even before joining the company, I’ve always marvelled at my father. And I feel one of the most important lessons he taught me was perseverance. 1997 was a difficult year for Titijaya and I saw, firsthand, how through my father’s patience and perseverance to smoothen the tides, we reap the rewards today. He is a man who never ever gives up, no matter how low the chances might seem.”

A character to be reckoned with, it would seem that Tan Sri Lim had also charted the career paths of both of children, with a view to, one day, succeed him. “Yes, that’s a given,” laughs Lim in agreement. “Even as children, the family limited our imagination… or mine, anyway. Definitely no guitar or performing arts options for us; engineering or even interior design, perhaps, as that was relevant to the business. Our family dinners have always been more like business functions while trips will invariably include site visits or something that is work-oriented. But this has ensured a very easy, natural progression in joining the family business and I am grateful. ”

Upon close examination of typical Asian family businesses, a clear developmental trajectory often takes place over a few key phases, which may include the building-up period by the founder(s), followed by the introduction of trained and appointed successors. It would seem that the younger Lim is in the thick of this right now. “I’ve studied the family business subject for a while now,” he says, “and my preparation includes structured succession planning as this is the stage where a host of problems may crop up, as more family members join the fold. If there is no clear leadership, infighting may also come in. In my case, I am glad for my computer background as it really helps me think logically,” he says. “When working with computers, you really do need to foresee every possible scenario as this is a programming must! I sometimes think my team is beyond annoyed as I am always asking them for A-Z outcomes but I think it helps immensely if one is prepared for all situations possible.”

On the ominous Chinese proverb that wealth never survives three generations, Lim chooses to look on the bright side – a trait picked up from his ‘never say die’ dad – and muses: “Then poverty should not exceed three generations either.” It’s clear that learning from his father has helped form the backbone of Lim’s management style. “We work very closely, yes, but my father also gives me a free hand. In fact, my sister, who is Titijaya’s Executive Director, and I both run very independently.” A typical day for Lim includes a very early start (“I wake up around 5.30am and start work usually around 7am”) as well as two morning briefings he chairs with senior management each week. In line with his Western education, Lim also looks to role models like Rockefeller, whose case studies on company management theories he eagerly devours. “I’m also reading Verne Harnish’s Scaling Up right now. He’s more like an enhanced version of Rockefeller’s ethics.”

“It helps, as mentioned, to be informed and prepared,” Lim adds. “The market is and always has been cyclical; yet, in every cycle, there are opportunities. Titijaya’s core business has always been to improve the quality of lives. That’s our core.” Although still very young, at just 32, Lim is already showing signs of steering his children much the way his father did for him. “I love nothing more than relaxing by spending time with my children,” says the father of a three-year-old girl and a baby boy. “But I think I’ve picked up quite a few traits from their grandfather,” he laughs, adding that he’s already taken the children with him on site visits, outings he says they enjoy immensely. “I think it’s a win-win,” he muses. “We sometimes pretend we are potential house-buyers and visit show units as a family. I think that’s a great balance, no? I get to have my firsthand market updates as well as clock up family time in the process.” With logic like that, it’s impossible to argue.