How Tan Sri Ter is shaping Sunsuria for its next chapter

By Joseph Wong

In an industry often obsessed with immediate top-line metrics and transactional velocity, true leadership is defined by the ability to look past the next quarter or even the next decade. For Sunsuria Bhd executive chairman Tan Sri Ter Leong Yap, building real estate was once a straightforward commercial exercise: acquire a good parcel of land, craft a solid master plan, execute construction, achieve sales and deliver bottom-line value to shareholders.

Today, after more than three decades at the forefront of Malaysian business and property, that definition has undergone a profound evolution. Sunsuria is no longer merely a traditional township developer. From undertaking long-term master-planned developments anchored by international institutions such as Xiamen University Malaysia and Concord College International to executing complex urban redevelopment projects across Kuala Lumpur, Ter is guiding Sunsuria’s evolution beyond traditional property development, with a growing focus on place-making, education and creating long-term value for communities.

From pure-play developer to ecosystem curator

The journey from a traditional property developer to a visionary place-maker requires a fundamental shift in how one measures success. In his early years, Ter’s operational framework mirrored that of most ambitious entrepreneurs.

However, as an organisation matures, the definition of success shifts from transactional profit to enduring human value.

"When I was young, I was obviously very focused on property development — get a good piece of land, craft the development plan, deliver, make sales and create value for customers and shareholders. Very straightforward. But as you evolve and grow older, the definition of success changes. It is no longer just build, sell and make money. It is more about what benefits and values we create for the community and what legacy we leave behind," he told StarProperty.

This commitment to longevity is captured in a phrase Ter frequently shares with his team: preparing Sunsuria to celebrate its 100th anniversary. "We are currently at 35 years. To reach our 100th anniversary will take another 65 years. I am 62 years old which means looking ahead to when the company reaches 127 years of age. We are looking for true, long-term sustainability. We will never sacrifice long-term value for short-term gain," he said.

Lessons from the pinnacle of commerce

Ter’s experience in national business leadership has given him a broader perspective on property, economic policy and international business. Having served at the pinnacle of national business leadership as the former President of both the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and the National Chamber of Commerce and Industry of Malaysia (NCCIM), his perspective on real estate is informed by high-level macroeconomic policy and international trade networks.

While pure-play developers assess projects primarily through land costs, design aesthetics and immediate absorption rates, Ter approaches capital allocation with a bird's-eye view.

"Being in the leadership of ACCCIM and NCCIM put me in a position that broadened my scope immensely. We were directly involved in policy discussions with the government—contributions to five-year plans, annual budget proposals and national economic strategies. At the same time, the Chambers hold dynamic, global networks, some with over a century of history," he explained.

This international exposure has given Sunsuria broader insights into emerging economic trends and opportunities. It has also paved the way for high-level joint ventures with global powerhouses, including CITIC International Investment Ltd (CIIL), whose parent company CITIC Construction Co Ltd is a Fortune Global 500 company, and SANY Group (the world's largest heavy machinery manufacturer).

"I don't just look at one project in isolation. I maintain a long-term view of 5 to 10 years while staying agile enough to react to dynamic short-term changes. That macro-perspective changes how you structure partnerships, manage risk and position the entire group," Ter elaborated.

Institutionalising the firm without losing entrepreneurial speed

One of the most complex hurdles facing founder-led corporations is transitioning operational control to professional management without diluting the raw, opportunistic drive that built the business. With Group chief executive officer Tan Wee Bee directing day-to-day operations, Ter has deliberately recalibrated his role as Executive Chairman to focus on governance, culture and strategic foresight.

For Ter, institutionalisation must never turn a corporation into a slow-moving monolith. "As an entrepreneur, speed is everything. We want structure and governance so that decisions are made correctly but without creating bureaucracy. We do not want to become an aircraft carrier where turning five degrees takes half a month. You need governance without sacrificing speed," he noted.

Maintaining this balance means protecting the firm's willingness to act on visionary opportunities, even when standard corporate risk metrics urge caution. "If you rely solely on rigid risk committees and spreadsheets, the numbers will often tell you to walk away. When I looked at bringing Xiamen University to Malaysia, traditional risk models called it a mission impossible. But an entrepreneurial mindset allows you to see past immediate underwriting metrics to capture transformative, decade-long value," he revealed.

Three pillars of talent retention

To anchor top-tier talent and foster a culture of shared accountability across Sunsuria's divisions, Ter instilled a WE Culture to foster trust, create growth opportunities and imbue a sense of purpose among every Sunsuria employee.

"I tell young professionals and my team to treat the company as if it were your own family business. When you adopt that mindset, every detail matters to you. Do your best in every task, no matter how small and think creatively to elevate it. That principle is what elevated me to lead the Chamber of Commerce at a young age and it remains the core value that drives high performance," said Ter.

Maintaining healthy development margins in an environment marked by volatile construction supply chains and shifting material costs is a key challenge for modern real estate firms. Sunsuria mitigates these market pressures through a vertically integrated ecosystem, encompassing its own internal construction arm, dedicated landscaping services and industrial property divisions.

Ter clarifies that vertical integration is not simply an internal cost-cutting exercise but an operational strategy centred on quality, coordination and execution speed.

"Our integrated subsidiaries must remain lean and competitive. They tender for internal projects just like external contractors to ensure market competitiveness. The true advantage lies in alignment, speed and quality control. We know each other's standards, allowing us to execute high-profile projects smoothly without compromising on build quality,” said Ter.

Asset-light development rights agreements (DRAs)

From a capital allocation perspective, Sunsuria balances direct land acquisitions with strategic DRAs and joint ventures with master developers, such as Kwasa Land for its multi-generational residential development RIA Sunsuria in Kwasa Damansara.

"With the same capital outlay required to purchase a single piece of land outright, a development rights agreement allows us to partner on two or three major projects simultaneously. While we share profits with the landowner, the capital efficiency and overall returns are far higher. It creates a win-win scenario, expands our operational scale and leverages our central management team more effectively," explained Ter.

The true mark of Sunsuria’s place-making philosophy is visible in its willingness to anchor large-scale townships around capital-intensive, educational catalysts. The development of Sunsuria City, a 525-acre freehold master-planned township, was built around bringing Xiamen University Malaysia, the first overseas campus established by a premier Chinese university, to local shores.

When negotiations began in 2011, many market observers viewed the 150-acre campus project as a high-risk endeavour. "Initially, I approached it as a corporate social responsibility effort. Tan Kah Kee, a Malayan entrepreneur, founded Xiamen University over a century ago and bringing it back to Malaysia held immense historic meaning. But when the scale grew to 150 acres and RM1.3 billion in construction, many viewed it as impossible," said Ter.

By taking on the initial land acquisition risks and integrating the university into the broader Sunsuria City master plan, Ter created a thriving academic township out of greenfield agricultural land.

"By anchoring the township with Xiamen University, we created a living ecosystem from scratch. That bold move built deep international trust. That experience has helped us build strong international relationships and establish trust with partners looking to enter Malaysia. That trust, together with a proven track record of execution, creates long-term value that goes beyond short-term financial measures,” he said

This catalyst-led approach is further reinforced by the introduction of Concord College International School, laying the foundation for Sunsuria’s growing education portfolio and further diversifying the Group beyond its traditional property business.

Mitigating high barriers to entry

Beyond greenfield township developments, Sunsuria has established a specialised footprint in urban redevelopment across Kuala Lumpur, a complex domain characterised by fragmented land ownership, legal negotiations and lengthy planning gestation periods.

Having successfully executed major urban regeneration projects including KL Gateway (Bangsar South), Bangsar Hill Park (Bangsar) and KL City Gateway, a 9.66-acre integrated urban redevelopment project near KLCC, Sunsuria has developed an operational playbook for complex urban renewals.

"Urban redevelopment is inherently complex because you are managing hundreds of individual landowners, varying expectations and regulatory frameworks. But because we established dedicated urban renewal teams starting with KL Gateway and Bangsar Hill Park, our execution capabilities have become a core competitive advantage that is difficult for pure-play developers to replicate," said Ter.

The reward of urban redevelopment extends beyond financial metrics, he said, adding that: "When you transform an old, congested neighbourhood into a well-managed residential community complete with modern amenities, swimming pools, green parks and proper security, you genuinely alter the life trajectory of those families. Turning an underutilised urban site into a thriving community brings a distinct sense of fulfilment."

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