Name: Yusaini Bin Haji Sidek
Position: Executive Director
Company: Damansara Assets Sdn Bhd
Yusaini bin Hj. Sidek, 52, was appointed as the Executive Director of Damansara Assets Sdn Bhd on 1st December 2012.
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Yusaini graduated with a Master of Business Administration, with specialisation in International Business from University of Southern Queensland, Australia in 2010. He also obtained his Bachelor in Business Administration from Universiti Kebangsaan Malaysia in 1999 and a Diploma in Valuation in 1989 from Universiti Teknologi Malaysia. Yusaini is also certified as a Property Manager under the Board of Valuers, Appraisers, Estate Agent & Property Managers in 2018 and a holder of Capital Markets Services Representative’s Licence for Real Estate Investment Trust as a Licensed Director to carry out regulated activities specified under the Capital Markets Services Act. In January 2015, he was appointed as the Vice Chairman of the Malaysian REIT Managers Association (MRMA), an organisation that acts as a platform for the Malaysian REIT Managers to engage with the Regulators in proposing changes to the industry to promote its growth.
Yusaini has approximately 30 years of experience in the Malaysian property industry, particularly in property valuation and building management. His vast expertise in property management is an asset in ensuring the smooth operation of Damansara Assets Sdn Bhd’s properties and development.
Tell us more about Damansara Assets Sdn Bhd (DASB) and its unique selling points.
Damansara Assets Sdn Bhd is a company which focuses on the commercial development as well as the managing of commercial properties, namely, offices and retail. We are experienced and have the expertise to identify the right blend between marketing mix and market forces. The energy from those activities are channelled into the process of breathing in soul into the properties under DASB’s supervision.
What are some factors that affect property management and what would be the most important element in running a retail outlet?
There are of course many factors that can affect the process of managing a property. First of all, we must identify the market forces surrounding the property. What are the different eco accessibilities available? Who are the people living or coming to the area? What kind of changes does the community want? These are some of the simple questions which we can ask and answer by taking the right steps to address them. In terms of running the property, besides experience, we need to accept and understand the current situation and identify the options that can be taken. From there, we can introduce or fix any discrepancies which arise. However, from my personal experience, the most important element is walking! Yes, literally walking around your property to see first-hand on what’s going on, and of course, “walking” around other places and venues to adapt ideas and act innovatively.
B5 Johor Street Market, is it a mall, bazaar, or something new altogether?
B5 Johor Street Market is an open concept commercial tourism centre. That’s what we’d like to call it. It is not like a mall or a shop lot but essentially, the focus point is on tourism and tourism products which encompasses retail, food, drinks, events, and more.
How did the B5 Johor Street Market concept come about?
The concept of having a street market is not entirely a new idea. However, the way we do it differently is to combine the best of everything we have to offer. As I mentioned earlier, we have plenty of experience in terms of retail property management, and with that expertise, we have performed numerous market studies and brainstorming sessions to identify the perfect combination and presentation of this particular community centre in regards to its surrounding market forces.
What does B5 Johor Street Market have to offer to the public, as well as the related industries such as tourism?
B5 Johor Street Market itself acts as a tourist destination in terms of its local architecture and offerings of a variety of touristy things to do, as well as keepsakes and souvenirs that comes with promoting tourism of a certain local destination. When it comes to place-making, B5 has it all – retail, food, drinks, events, and more.
How will B5 benefit the local market in terms of sustainable economy?
Well, as I mentioned earlier, B5 is unique in a sense that it is a conglomerate or a consolidation of different business genres coming together, where creativity meets innovation. Budding entrepreneurs have a chance to try out, or go all out with our different vendor package offerings. We are more inclined to support and give priority to venture ideas which are closely linked to the local communities, as well as promoting the local tourist products and destination branding, where in this case, the state of Johor. This will in turn create a more vigorous and active economy that can self-sustain.
What is your take on the introduction and evolution of digital retail and e-commerce?
I like the idea of this evolution and advancement in technologies. However, I am still a strong believer of the traditional medium and getting hands on in some cases. For example, in retail, I still prefer and I think most people agrees with me that the look and feel of a product or service that we are looking to procure plays a major part in the commercial transaction decision making process. Sure e-commerce and digital retail can be interactive and it simplifies the process, however, I would still like to try stuff on and check its quality.
On a personal note, how and why did you end up in the property industry?
Just like anyone after high school, I got a few offers to further my education both from the government and private institutions. I took the first offer and it was on valuation then, now people call it property management. As I dove deeper into it, I found that this industry is quite interesting. Not only it can be lucrative in most economic situations, but it is also beneficial for me to develop my entrepreneurial portfolio.
What do in your free time?
I work all the time and of course whenever I have free time, I spend it with my family either at home or on a trip locally or abroad.