Saturday, June 19, 2010

Why Invest in Real Estate KK Part 2

This articles contributed by “The Rich”.

Foochows and Hakkas- this is another reason why I feel KK has great potential to develop at a rapid pace. It is a town dominated by the Hakkas and now the Foochows have moved in from Sibu and Miri to give the Hakkas tough competition- and we all know that its strong competition that brings out the best in people.

The Hakkas came here first- I have always found that the smartest and hardest working kids in class were the Hakkas- they grow up to be hard working and smart adults. In fact I think amongst the Chinese dialects they are naturally smarter than all others. They have an intellect that is natural and they are pragmatic people- all those generations of being “stateless” have inculcated a strong survival instinct in the Hakkas. But Hakkas are the most difficult people to manage amongst the Chinese- they have a natural rebellious streak and will challenge authority without the slightest hesitation. The term “Born to be wild” seems to come to mind when thinking about Hakkas! Their brilliance makes them look down on others who are of lesser intellect. If you have to manage a typically clever Hakka and if he feels that you have nothing to teach him, beware! He will be climbing over your head before you can even blink! Hakkas respect brains and little else. But if you can command their respect and you have a battalion of Hakkas, you can take over the world! They are intuitive planners and strategists par excellence. Clever people, these Hakkas!

Now the Foochows are also unique. They are characterized by an incredible propensity to take risks- they seem to love risk taking the way a duck takes to water. Coupled by an inborn willingness to work hard, they become formidable business personalities. Examples of Foochow business personalities include Robert Kuok, Tiong Hiew King of Rimbunan Hijau, Liem Siow Liong of Indonesia, Ting Phek Khiing, the late Loy of MBF, the KTS Group and many other low key but powerful families from Sibu, Miri and Sitiawan. Yong Peng in Johor used to be a Foochow stronghold but most have since left for greener pastures. They network naturally, this being a result of being in the minority (the Foochows probably constitute no more than 1-2% of the Chinese population but their control and influence extend beyond their proportion. Think of the fact that the vice trade and the underworld in USA is largely controlled by these guys! In fact, the illegal smuggling of humans(snakeheads) is a trade dominated by them).

Their natural extreme aggression makes them formidable enemies and opponents- in competition, they can become senselessly aggressive, preferring to die than to lose. They are naturally entrepreneurial as a result of their aggressiveness, competitive spirit and risk taking propensity.

2 things characterize both the Foochows and the Hakkas- one is the emphasis on providing the best possible education for their children, no matter how poor the family may be- relatives will pool together much needed funds to send a child to university. The other thing which is common amongst all Chinese but even more evident in the Hakkas and Foochows is what is commonly known as the willingness to defer one’s gratification. In other words, even though one can afford and desires say a particular luxury like a car, one who is willing to defer this gratification to a later date and use the money for reinvestment, will generally do much better than one who indulges in instant or immediate gratification. This is a fact proven by empirical studies and psychologists.

Again like the Hakkas, the Foochows originate from and thrive in tough environments. Sibu was carved out of swamp land, by hand, square foot by square foot! They also have strong political inclinations- a fact not well publicized is that the Communist movement in Malaya was very much spearheaded by the Foochows and Hakkas.

So when you put these 2 formidable communities together, what you will get is incredible energy and a willingness to risk for the longer term, a willingness to invest and build for a better future. The fact that the commercial scene is dominated by these 2 groups speaks well for Kota Kinabalu. Now what KK needs is an improvement in the culinary scene because both Foochow and Hakka food are considered provincial and relatively crude; more functional than refined- bring in the Cantonese and the Teochews and KK will be a wonderful place to live in!

Happy Investing
You cannot Grow Land..CK Wong & MY DAD


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