Rafiq Jumabhoy, Managing Principal of Orkney Investments
Rafiq is a recognised industry innovator in real estate, retail and service related asset businesses. Orkney Investments which he set up in 1998 is a strategy driven consultancy and has been active in various asset classes blending hardware, people, processes and technology to enable omni-channel consumer value chains.
“Ask yourself- where am I most useful?”- Rafiq Jumabhoy
In this episode, Ashutosh Garg engages in a vibrant conversation with Rafiq Jumabhoy, Managing Principal of Orkney Investments. Rafiq is a prominent corporate veteran in Singapore and a member of the YPO. Rafiq shares the three key milestones in his life. He shares the stories of the downfalls in his career and how he overcame those challenges. He tells what inspires him to bring about revolutionary out-of-the-box ideas. He gives an overview of the Jumabhoy family and how they established themselves in Singapore. Rafiq analyzes the change in the retail business over the years. Being a person who has set up, run, and gives consultation about retail business, he shares less-known facts about the same. He tries to interpret the influence of the digital world in the retail sector. Rafiq talks about the scope of his work in Orkney Investments. He gives more details about the role he played as a crisis negotiator. He shares insights about how malls and retail business owners should adapt. Before concluding, Rafiq says why he joined the YPO. He defines success in a unique way.
Rafiq is a recognised industry innovator in real estate, retail and service related asset businesses. Orkney Investments which he set up in 1998 is a strategy driven consultancy and has been active in various asset classes blending hardware, people, processes and technology to enable omni-channel consumer value chains. It has a demonstrated track record in asset and business turnaround, negotiation, business planning and joint ventures.
He built Scotts Holdings Ltd from a 3 person start up in 1981 to a 1,500 employees over a 15 year period into a publicly listed company on the SGX and a UK listed subsidiary. At Scotts he pioneered the concept of service apartment as an asset class with The Ascott Serviced Residences. He also introduced the concept of centrally managed malls to Singapore, developing Singapore’s Lau Pa Sat as one of the first festival markets in SE Asia . Another of his innovations was food courts which the company grew into Malaysia and the UK where they are now industry standards. Scotts Holdings was sold in 1999 to the Temasek Group’s CapitaLand in 1998.
He was an Advisor to Monitor Deloitte till 2019, a leading strategy consultancy. Thereafter, having anticipated some of the industry disruptions likely to emerge from COVID, he has partnered with technology businesses for cutting edge solutions in specific use cases.
In public service he has been a core member of Singapore’s Economic Planning Committee, the Sentosa Development Corporation, The Singapore Tourism Board and a founder board member of the National Arts Council and Governor of The Civil Service College, etc.
Rafiq holds a BA (Hons) degree from Oxford University, is a Fellow of ICAEW and of the first Stanford -NUS short business program. He is an Honorary Fellow of the NUS Business School in Singapore.