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\nLHN Group Executive Chairman and Group Managing Director, Kelvin Lim joined the company in 1997.
\nWhen Kelvin Lim first joined the company that his father started in 1991, LHN Group was just a small lessor of industrial spaces. Now with over 30 properties in its business portfolio, we speak to the man behind LHN\u2019s transformation to an industry leader in space optimisation.
\nBy Nikki De Guzman
\nTaking over a family-led business comes with not just the responsibility of continuing a legacy but the challenges of maintaining the success of the business\u2014if not growing it.
\nSince joining the company in 1997, LHN Group has transformed and grown from strength to strength to become an industry leader in a specialisation they term space optimisation.
\nIn our conversation, LHN Group\u2019s Executive Chairman and Managing Director Kelvin Lim looks back to almost two decades in the business as much as he looks ahead to the next years to come.
\nCreating new out of the old
\nLHN Group has gone through a significant transformation since the company was first founded in the early 90s.
\n\u201cMy father started the company and back then, it was not in the real estate business,\u201d Lim said.
\nLHN, which started off in the saw mill and timber trading business, only started out leasing underutilised spaces in 1991 when the trading business began to enter fallow times. As production wound down, excess space became more visible, prompting some consideration in the change of its use.
\nThe chairman at the time, Lim Hean Nerng, his father, saw a potential business in leasing these spaces to tenants in the wood-working industries. When that business started to gain traction during the time the economy began to recover from the Asian Financial Crisis in 1997, the company started expanding the leasing business to a broader tenant market.
\nThe younger Lim joined the company in 1997, and took over the business with his sister Jess Lim, who is currently the group\u2019s deputy managing director.
\n\u201cBack then the focus of the business was subleasing of spaces. It was only until early 2000 that we started space optimisation, logistics and facilities management\u2014with the main focus on space optimisation.\u201d
\nWhen I asked Lim for the reason behind the shift, he said: \u201cBeing in the business for almost 20 years, I have learned that in any kind of business it is important to be adaptable\u2014we cannot just focus on one industry because if we do, our growth will be limited.\u201d
\n\u201cWe have to constantly be willing to try new things to adjust to the fast-changing environment,\u201d Lim added.
\nAnd try, they did. Following the success of leasing out spaces to industrial tenants requiring warehousing, open storage and factory purposes, LHN Group began to expand its portfolio of space-optimised properties to include commercial projects in 2007. This move was marked by securing the master lease of LHN\u2019s first commercial property at 10 Raeburn Park.
\nThe office site of over 162,000 sq ft of gross floor area was once home to Gan Eng Seng Secondary School. The development is now used as office spaces by various companies, and also houses the group\u2019s home office. 10 Raeburn Park is also the location of the group\u2019s first serviced offices under the GreenHub brand which was launched in 2012.
\nBut according to Lim, none of the company\u2019s growth would have been possible without the opportunities.
\n\u201cWhen a company is small you\u2026 think you can only do whatever is available to do, but because I have been very adaptive and have learned a lot through the experiences [in running the company], I kept looking for opportunities which eventually helped [LHN] grow,\u201d he said.
\nLeading the pack
\nAs we continue to discuss the tremendous growth the company has witnessed over the years, I couldn\u2019t help but notice how Lim would always mention how his team has helped in the company\u2019s progress.
\nPrior to the interview, while I was ushered to the board room where I was to meet Lim, I learned that he had just wrapped a discussion with members of staff that he manages directly. They were invited to sit down with us for the interview and later on helped to bring out a more personal side to their boss.
\nLim was appointed as LHN\u2019s Director in 2014. In addition to overseeing the group\u2019s overall investment activities \u201cto ensure that sound and profitable investments are made,\u201d he also oversees the group\u2019s marketing efforts and operations.
\n\u201cI\u2019m responsible for everything,\u201d he quipped.
\nBut Lim chooses his words carefully and throughout the interview, takes extended pauses when speaking about himself. He spoke in candid terms about his personal life and experiences since joining LHN.
\nIt gradually changes, however, when talking about the company and the team he leads. When I asked him about his achievements and accolades \u2013 citing research materials I gathered prior to our conversation \u2013 Lim spoke not of medals and recognitions but of a team whom he said is the best at what they do.
\n\u201cI think my biggest achievement was being able to build a team that is very good with what we specialise in. My team right now is all about that.\u201d
\nFuture perfect
\nAmid its continuous success in the commercial and industrial space optimisation, Lim said the plans of growing the business does not end there.
\nJust recently, the group launched a new concept development called PickJunction. PickJunction is a platform that brings people closer to their local community of artisans, boutiques, and studios. He said the creation of this business arm is part of its efforts in adapting to the changing ways of business especially through modern technologies.
\n\u201c[What the team does is they] curate a tight selection of independent brands from old guards to newbies in a range of goods and services \u2013 from food to fashion, and furniture,\u201d Lim said.
\nPickJunction currently showcases the businesses via a digital platform, but according to Lim, the wheels are already in motion to expand the showcase to spaces within the properties it currently manages.
\nLast year, LHN ended the dry spell in Singapore\u2019s Stock Exchange as it marked the year\u2019s first initial public offer.
\n\u201cWith our listing, we are now in an even stronger position to drive the expansion of our core business in the ASEAN region, and aid LHN as we embark on the next stage of growth,\u201d Lim said.
\nLHN currently manages 38 commercial and industrial properties in Singapore and currently enjoys around 94 to 95 average occupancy across these properties as of the previous quarter in the current financial year. But while business is already doing well in Singapore, Lim said the company is still on the lookout for expansion opportunities here and abroad.
\nLHN had already began launching several residential and commercial projects in Southeast Asia. Just in September last year, the group opened a second GreenHub suited office in Jakarta bringing the serviced office arm\u2019s portfolio to a total of five properties across Asia.
\nLim said the group is also looking at emerging markets in the ASEAN region, as well as China.
\n\u201cWe are looking to expand our business over these countries particularly for space optimisation, as well as the logistics business, serviced offices and serviced residence arms,\u201d Lim said.
\nWith a promising outlook for the business in the coming years, I asked him what is one important lesson he learned in his 17 years in the industry. He said: \u201cIf you want to be good at one thing, perseverance is the way to go. It may not be easy at first, it may not be easy all the time, but if you keep at it, you\u2019ll be good at it.\u201d<\/p>\n