IOI Properties Group’s Sustain Day themed “NIP it!” at the source”

Press Release: Creating Awareness for a Sustainable Future

IOI Properties Group Berhad (IOIPG) organised its first IOI Sustain Day themed “NIP it! at the source” on 15 July 2018 at IOI City Mall. As the theme suggests, the Sustainability campaign was aimed to create awareness on waste minimisation at the source. The sustainability campaign focused on four major areas comprising food waste, single-use plastic, clothes and e-waste. The campaign, which runs throughout the month of July at various IOIPG-owned locations, involves participation from all business units of IOIPG (including the malls, hotels and golf clubs), and in collaboration with various non-governmental organisations, social enterprises and businesses championing environmental initiatives aims at advocating circular economy and reducing waste amongst others.

Essentially, the Group hope to influence more people to lead a sustainable lifestyle by making changes in their daily lifestyle choices – reducing waste at its source instead of managing the waste created. IOIPG Executive Director, Lee Yoke Har said the campaign was aligned with the United Nations’ Sustainable Development Goals (SDG) and IOIPG aims to instill the spirit of sustainability in our employees and the local community through this campaign.“

As the theme of the event suggested, we would like to encourage the community to play an active role towards waste minimization. We have chosen to focus on four areas for this campaign namely on food waste, single-use plastic, clothes and e-waste in our campaign as it echoes IOIPG sustainability strategic initiatives of Urban Green and Mindset Change.,” Lee explained. The important elements of sustainability have always been embedded in IOIPG’s operations with the aim to achieve positive impacts to the environment, its business and the society which it operates in.

IOIPG General Manager of Corporate Communication and Sustainability, Kristine Ng added that “the event was organized with the environment in mind. Most of our decoration and props are reusable, recycled or upcycled. For instance, construction wooden pallets are upcycled into sit-ons. The rest of the activities such as generator bikes, DIY workshops and kampung games are ecoconscious and focused on zero-waste,” Ng added. On the IOI Sustain Day, the public participated in a series of games and activities ie SDG Spin to Win contest, SDG Board Game as well as other activities that encourage sharing of ideas on sustainable living.

Several partners of the event organised workshops and presentations related to simple sustainable efforts that can be adopted by individuals and households. Many premium prizes were also up for grabs via the Lucky Draw and Instagram photo contest, which included hotel stays sponsored by Putrajaya Marriott Hotel, Four Points by Sheraton Puchong, Palm Garden Hotel; as well as other vouchers sponsored by Palm Garden Golf Club, Le Meridien Putrajaya, District 21 and Icescape. PRESS RELEASE Date: 17 July 2018 IOI Properties Group Berhad (1035807-A) IOI Properties Group was also the title sponsor of Global Village IOI, an exhibition of different culture from a total of 26 countries; organized by AIESEC in University of Nottingham Malaysia.

The event encourages social sustainability, understanding and embracing of different cultures as well as to create unity among countries. Bargain Basement-a social enterprise undertaken by Yayasan Tan Sri Lee Shin Cheng, Puteri Mart Puchong, Plant Cartridge, Maeko, Biji-biji, iCycle, and EcoKnights were among the collaborators for the event. Apart from that, we engaged with Young Urbanites who actively contributed and participated in the event such s students from UTAR and AISEC as well as children from charity homes namely House of Joy and Rumah Shalom. It was indeed a day of back to basics, of respect for the environment and influencing sustainable lifestyles for our future generations.

IOIPG Executive Director, Ms Lee Yoke Har (left); and IOIPG General Manager of Corporate Communication & Sustainability, Ms Kristine Ng; posing at the event

Children from House of Joy enjoying themselves in the DIY Tote Bags workshop

Having fun at the SDG Giant Board Game

Having fun at the SDG Giant Board Game

IOIPG Assistant Manager of Sustainability, Kelvin Diong (left); and IOIPG Manager of Corporate Communication, Belinda Liew; posing with the Fruit Enzymes (for cleaning purposes) prepared by Puteri Mart Puchong which were given out to the public for awareness creation on waste minimisation during the event

Kids having fun with Cik Pucung mascot

— End of press release —

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Press Release:  IOI Properties Group’s net profit more than doubled in 3Q FY2021

IOI Properties Group Berhad (IOIPG) recorded a strong financial performance for its third quarter ended  31 March 2021 (Q3 FY2021) with a net profit of RM178.9 million, which more than doubled from  RM83.6 million in the preceding year corresponding quarter.

Its revenue and operating profit also showed significant improvement, mainly attributed to higher  contribution from the property development segment. IOIPG’s operating profit soared 72% to  RM208.1 million with revenue expanding 44% to RM579.0 million in Q3 FY2021 compared with the  preceding year corresponding quarter.

For the property development segment in Malaysia, IOIPG’s effective and unique sales and marketing  campaign, which was designed to assist buyers to overcome the challenges of homeownership and realise  life-long dreams, received favourable response. This has led to strong sales performance in Q3 FY2021,  with profits to be registered in coming quarters.

“Despite the on-going COVID-19 pandemic, the Group achieved exceptional performance in Q3 FY2021.  The overall business sentiment was subdued with the Movement Control Order (MCO) 2.0 imposed in  mid-January 2021. However, every member of Team IOI pushed forward and focused on achieving targets  and we defied the odds. All these are possible through the commitment and passion of Team IOI to  consistently deliver products and services that exceed expectations,” said IOIPG Chief Executive Officer  Dato’ Voon Tin Yow.

He added that IOIPG would carry on with its dynamic marketing initiative while leveraging on the Home  Ownership Campaign to boost sales of well sought-after, mid-priced range products. These high-quality  products are built within integrated developments offering various amenities in flourishing areas such as  the Klang Valley (16 Sierra, Bandar Puteri Bangi, IOI Resort City, Warisan Puteri Sepang, Bandar Puteri  Puchong and Bandar Puchong Jaya) and Johor (Taman Kempas Utama and Bandar Putra Kulai) that are easily accessible and well-connected.

Contributions from the property development segment were RM485.2 million in revenue and  RM182.3 million in operating profit in Q3 FY2021, which soared by 71% and 113% respectively from the  preceding year corresponding quarter. The sterling performance was mostly due to higher sales  contribution from operations in Malaysia and China, as well as advance progress work from on-going  residential development in China.

The residential developments in IOI Palm City, Xiamen, China will continue to contribute to the Group’s  financial performance in the coming quarters. Meanwhile, IOI Palm City Mall, Xiamen has secured high  occupancy level with business expected to commence by the third quarter of 2021.

The pace of construction progress of Central Boulevard Towers in Singapore has gained speed. However,  looking ahead, the Group expects further uncertainties due to the measures taken by the government of  Singapore to contain the recent wave of the COVID-19 pandemic. Leasing activities have commenced and  IOIPG has seen a strong response from the market.

For the property investment segment, it contributed RM72.4 million in revenue and RM32.9 million in  operating profit in Q3 FY2021, which were RM8.5 million and RM7.2 million lower respectively against  the preceding year corresponding quarter. Meanwhile, the hospitality and leisure segment recorded a  decrease in revenue from RM35.4 million to RM19.1 million and operating loss increased from RM5.0  million to RM7.5 million in Q3 FY2021.

The recovery of the property investment, and hospitality and leisure segments in Malaysia was dampened  when MCO 2.0 was imposed; and it is expected to be further impacted by the on-going MCO 3.0, which  commenced on 12 May 2021. Nonetheless, the property investment segment will continue to implement strategies in tenant retention. As at 31 March 2021, the Group has supported its tenants with rental relief  worth over RM55 million. To maintain its market share in retail, IOIPG will also leverage on its customer  loyalty programme and adopt digital innovation to enhance customer experience.

Although the business environment remained challenging due to the pandemic, IOIPG’s performance in  the current year-to-date improved significantly. The Group’s revenue and operating profit rose by about  one-fifth to RM1.8 billion and RM719.3 million respectively in the current year-to-date of FY2021  compared with the preceding year corresponding period. The increase in revenue was mainly due to higher  contribution from operations in the Klang Valley and Xiamen, China.

With the prolonged pandemic and persistent geopolitical tensions, the operating environment is expected  to remain challenging and uncertain. However, the Group will always manage its operations prudently and  professionally to ensure satisfactory performance in the coming quarters and at the same time, consolidate  its market position and strengthen its competitive edge to capture any opportunities that may arise when  the situation gradually improves.

— end of press release —

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IOI Properties – net profits up 120.5% in Q2 FY2019

When we want to know if the property market is bad or still okay, take a look at the property developers’ results. When the market is bad (nothing gets sold and all new launches go into unsold stocks), it is highly unlikely that the developers would be returning a positive set of results. Let’s understand that the so-called slowdown we have today did not start in 2018. It started in 2013… and there has been
predictions year after year about a potential property market collapse.
 As for developers’ results, earlier was
IJM Corp which reported a marginally higher set of profit.
 There’s now another major developer in Malaysia reporting a good set of numbers.

Article in TheStar.com.my here.
  IOI Properties Bhd reported that its net profit rose 120.5% from RM97.45 million a year ago to RM214.86 million for its second quarter ending 31st December 2018. Major boost to this number include property development in China and higher share of profit in joint ventures arising from the sale of South Beach Residences in Singapore and foreign currency translation gain. Pre-tax profit was 59% higher at RM342.80mil than the RM215.60mil a year ago. Revenue fell by 4% to RM666.20mil from RM695.41mil because of lower contributions from the property development segment. Its property development reported a 7% decline in revenue of RM519.20mil due to lower progress billings from ongoing projects in Malaysia as the current quarter sales were mainly from completed projects.
Article in TheStar.com.my here.

We could see that the numbers look positive but the numbers from local market Malaysia is not as robust as the two contributions from China and Singapore. This tells us that the local property market is slow but is still moving. Hopefully I will read about the results from more developers and could share it here with everyone. I just hope that everyone understands that when times are slow, it’s the best time to buy. I am not so sure if everyone only love the times when we needed to queue up to buy a property or the scene in one property development in Penang where the sales people actually said this, ‘Sir, we are sorry. Everyone is allocated X time to choose a unit because we still have many potential buyers queuing outside…’ Happy following.

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News article summarised by Dina Batrisyia. Article written and edited by Charles.

written on 3 Mar 2019

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IOI Properties – Q1 Net profit climbs 26 percent

It’s always good to follow the listed developers’ results. With the current slow market, it is a notable result if the developer is still reporting good profits. If every listed property developers are reporting losses, I think it is a certainty that the market is in big trouble. Another one has just released their latest quarterly result. IOI Properties Group Berhad (“IOIPG”) has achieved a higher net profit of RM251 million. This is 26 percent higher than the same period last year. Read on their Press Release as follows:

— start —

Net profit of IOI Properties Group Berhad (“IOIPG”) has climbed 26% to RM251.0 million for the first quarter (Q1) of FY 2018 ended 30 September 2017. It recorded an operating profit of RM329.0 million, which is 22% higher than the preceding year corresponding quarter, on the back of RM870.0 million in revenue; with the increase contributed by the Group’s three main business segments in property development, property investment, and leisure and hospitality. The Group continues to deliver better performance amidst the current challenging market conditions.

For the property development segment, the Group recorded operating profit of RM270.2 million in the quarter under review, an increase of RM46.7 million or 21% as compared to the preceding year corresponding quarter. The increase is derived from improvement in sales take-up rate in Malaysia particularly in the Klang Valley and Johor. The increased contribution from the property investment segment was derived mainly from higher occupancy and rental rates.

The Group’s leisure and hospitality segment registered RM7.5 million in operating profit which was 161% higher than the preceding year corresponding quarter. The sterling performance of this segment was mainly derived from Le Meridien Putrajaya which commenced its business operations in August 2016.

The Group has several ongoing development projects in high-growth areas in the Klang Valley such

as Par 3 in IOI Resort City, The Strata in Bandar Puteri Bangi and Zentro Residences in 16 Sierra @

Puchong South; and upcoming in the pipeline for 2018 is IOI Rio City in Bandar Puteri Puchong

and The Gems in IOI Resort City.

Sky Condominium, Puchong.

The Group’s portfolio of investment properties located in strategic and high-growth urban areas are expected to continue sustaining healthy occupancy rates and good rental yields. IOI City Mall in Putrajaya and IOI Mall Puchong have achieved occupancy rates of almost 100%. The Group has started work on the second phase of IOI City Mall to add another one million sq. ft. of retail space

to the existing mall, which has achieved almost 100% occupancy. The Group will continue to manage its investment portfolio to generate a steady stream of recurring revenue despite the competitive environment for leasing of office and retail space and a growing trend in online retailing.

IOIPG Chief Executive Officer Lee Yeow Seng said, “We expect the current challenging property market conditions to continue its steady recovery into 2018 with an increased demand for sustainable lifestyle developments in well-established growth areas. With its focus on quality and value creation; and its sizeable landbank in high-growth corridors, the Group is well-positioned to adapt to these market demands.”

“On the international front, the Group’s key developments are expected to commence soon notably

the development of Grade A office towers and retail podium in the prime Central Business District

located within Marina Bay, Singapore and a mixed development in Xiang An business district of

Xiamen, People’s Republic of China,” he said.

–end —

IOI Properties Group Berhad

Spanning more than three decades in the property development industry, IOI Properties Group Berhad (“IOIPG”) is one of the leading award-winning public-listed property developers in Malaysia. Over the years, it has successfully developed sustainable townships and commercial enclaves in sought-after regions of Klang Valley such as IOI Resort City, Bandar Puteri Puchong, 16 Sierra and Bandar Puteri Bangi; and has established a strong presence in Penang (northern region) as well as Johor in the southern region of Malaysia. In the international scene, IOI Properties has achieved notable success in Singapore and the People’s Republic of China.

Apart from being an established township developer, IOIPG is also known for being one of the few integrated property developers that builds and manages its investment properties such as hotels, golf courses, shopping malls and office buildings.

The Group has a total development landbank of approximately 10,000 acres. Under its investment property portfolio, it manages a total of 6.7 million sq. ft. of lettable area, comprising retail, purpose built office and others. These properties are mostly located in high-growth areas, which are wellconnected, accessible and are centred within high population concentration. The Group owns five hotels with 4- to 5-star rating offering a total of more than 1,800 keys namely Putrajaya Marriott Hotel, Palm Garden Hotel, Four Points by Sheraton Puchong, Le Meridien Putrajaya and JW Marriott Hotel Singapore South Beach. The Group’s golf courses include Palm Garden Golf Club in IOI Resort City and Palm Villa Golf and Country Resort in Johor.

Corporate website:
http://www.ioiproperties.com.my

For media enquiries, please contact:

Belinda Liew Corporate Communication Manager T: +603-8947 8888 (Ext: 6271) F: +603-8947 8958 belinda.liew@ioigroup.com

Chan Ching Thut Corporate Communication Senior Executive T: +603-8947 8888 (Ext: 1067) F: +603-8947 8958 ctchan@ioigroup.com

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Press Release by IOI Properties Group – Profits up 48 percent for Q4 2017

Press Release by IOI Properties Group (“IOIPG”)  – IOI Properties Group Q4 Revenue Rose 34%

— start —

IOI Properties Group Berhad (“IOIPG”), recorded a revenue of RM1,195.3 million for Q4 2017 which is RM303.6 million or 34% higher than the preceding year corresponding quarter. After excluding fair value gain on investment properties of RM48.8 million, the Group’s operating profit for the current quarter is RM486.4 million which is RM158.6 million or 48% higher than the preceding year corresponding quarter (similarly excluding fair value gain on investment properties of RM60.1 million).

The Group posted a cumulative revenue of RM4,185.4 million for the current year to date. The increase in both revenue and operating profit was a result of solid performance from its three business segments namely property development, property investment; and leisure and hospitality.

Property development segment registered a revenue of RM1,075.2 million which saw an increase of 37% compared to the preceding year corresponding quarter. The increase was mainly due to the strong take-up rates in its Singapore project, The Trilinq, which was completed during the quarter.

Revenue increased by 8% from RM71.7 million to RM77.4 million for its property investment segment which was mainly due to the increase in average occupancy and rental rates in both retail and office segments. Meanwhile, a revenue increase of RM40.9 million which is RM7.4 million or 22% higher than the preceding year corresponding quarter was posted by its leisure and hospitality segment, mainly contributed by Le Meridien Putrajaya which commenced operations in August 2016.

The Group will continue to focus on sustainable transit-oriented developments. In its township developments of Bandar Puteri Puchong, it is currently upgrading an interchange which is serving the 1,000 acre township with an estimated population of 11,500 residents; and a thriving business community. Some of the Group’s latest projects are located just minutes away from this interchange and within this bustling township. These are namely Seri Puteri Hills town villas which are suitable for multi-generational living; and Pavillion Service Apartments that caters to the younger demographics. In Bandar Puchong Jaya, Sky Condominium offers unobstructed views of the Puchong skyline, resort facilities and green features, setting a new benchmark for sustainable lifestyle.

The Group’s overseas developments in Singapore and Xiamen, China have contributed significantly to the increase in revenue and it is confident that the projects in the international scene will continue to perform positively in the next financial year. Stronger growth opportunities in the property PRESS RELEASE Date: 28 August 2017 IOI Properties Group Berhad (1035807-A) IOI Properties Group Q4 Revenue Rose 34% development segment is expected with continued demand for mid-priced properties in its township developments.

Despite the current competitive market, IOIPG with its sizable landbank in strategic locations and its developments within matured townships, is well-positioned to adapt to market demand and will continue marking its presence in the international scene. One of the Group’s most significant milestones in FY2017 was its purchase of a prime Central Business District land located within Marina Bay in Singapore, and its collaboration with Hongkong Land Limited to jointly develop and manage two office towers and a retail podium.

The Group has earlier declared a 6 sen dividend per share.

— end of press release —

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Press Release by IOI Properties: The Gems @ IOI Resort City

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IOI Properties’s LiVO Referral (Refer and Earn up to RM56,000)

[Sponsored] Some people say it’s best to work two jobs nowadays due to the high cost of living. Actually, there’s another thing we could do. Refer and Earn. We could help our friends and we earn referral fees. This is especially if we know that they are looking for a property their requirements include looking for established developers as well. IOI Properties Group Berhad (“IOIPG”) is one of Malaysia’s leading public-listed property developers. It has built a solid reputation as the esteemed property arm of IOI Group prior to its successful listing onto the Main Board of Malaysian Stock Exchange on 15 January 2014. They are one of the largest developers in Malaysia today.
View all their property developments here.

Depending on the property, the potential earning could be as high as RM56,000! (View the video to learn more) Else, this is their website link as well:
www.ioiproperties.com.my/referral

https://youtu.be/xUettV2Si5o

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Always Setia to you by IOI Properties

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IOI Properties: Traffic diversion along Lebuh Puteri to facilitate excavation works for construction of underpass

Press Release: Traffic diversion along Lebuh Puteri to facilitate excavation works for construction of underpass

IOI Properties Group Berhad (IOIPG) will temporarily close the intersection of Lebuh Puteri  and Persiaran Puteri in Bandar Puteri Puchong in front of IOI Galleria @ Puchong on
21 August 2021 at 12.00am
to facilitate excavation works for the construction of an underpass.

The construction works are expected to be completed by end-December 2021. The underpass  will complement the upgraded Bandar Puteri Puchong Interchange and will further enhance the connectivity of Bandar Puteri Puchong upon its completion.

The entire project encompassing the completed Bandar Puteri Puchong Interchange, the  upgrading and enhancement of Lebuh Puteri, the construction of the underpass, walkways,  pedestrian link bridges and landscaping is wholly-funded and constructed by IOIPG at the cost  of RM70 million.

During this construction period, alternative routes will be made available to motorists.  Temporary traffic lights have been installed at the T-junction of Lebuh Puteri and Jalan Laman  Puteri 2 near the Petronas petrol station; and two temporary U-turns have been set up in front of  the McDonald’s outlet at The Cube.

Motorists are advised to follow these alternative routes during the closure of the intersection of  Lebuh Puteri and Persiaran Puteri (
please refer to the attached map – Appendix 1
): ? Motorists from Persiaran Puteri wishing to turn right to Lebuh Puteri may turn left into  Lebuh Puteri and make a U-turn at the temporary traffic lights near Petronas (
please refer  to 1A on map
).

? Residents from Puteri 9, 10, 11 and 12 wishing to head towards Puteri 1 and 2 are  advised to use Jalan Laman Puteri 2 to turn into Lebuh Puteri at the temporary traffic  lights (
please refer to 1B on map
).

? Motorists from Lebuh Puteri wishing to head towards Persiaran Puteri can turn right at  the temporary traffic lights in front of Petronas into Jalan Laman Puteri 2 (
please refer to  2A on map
). Alternatively, motorists can go further along Lebuh Puteri to make a U-turn  in front of McDonald’s at The Cube (
please refer to 2B on map
).

? Motorists from Puteri 7, Le Pavilion and Columbia Asia Hospital en route to Puteri 1  and 2, and Lebuhraya Damansara-Puchong may use the temporary U-turn in front of  McDonald’s at The Cube (
please refer to 3 on map
).

Motorists are advised to follow directional signages placed along Lebuh Puteri and the alternative  routes. Upon completion of the road works, residents and the business community can expect  smoother traffic flow in the integrated development of Bandar Puteri Puchong.

For updates, please visit our corporate website,
http://www.ioiproperties.com.my
. Alternatively, you  may contact our Customer Relations Unit at 03-8064 8833 or email
cru@ioigroup.com
 from  9am to 5pm on Monday to Friday for assistance.

— End Of Press Release —

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IOI Properties: Higher Revenue and Profit

It’s not an easy time for property development. So, it’s not a great time for developers. Those who has more flexibility is pushing back or relaunching some developments with some tweaks in sizes and prices. In fact as most of the statistics are showing, new launches are mostly below RM500k these days. Great time for potential home owners actually versus those times when this was common. “You only have 5 minutes to choose your unit. There are so many other potential buyers.” Yes, I know because my friend lost in buying one condo unit by a mere 10 seconds. The latest result for IOI Properties Group Berhad below:

— Start of Press Release —

IOI Properties Group Berhad (“IOIPG”) announced its Q1 financial results for the financial period ended 30 September 2016. The Group continues to deliver better performance amidst the current soft property market due to weak consumer sentiment and tight lending conditions. IOIPG recorded revenue and profit before taxation of RM899.5 million and RM289.5 million respectively for the current quarter, which is RM304.3 million or 51%; and RM81.2 million or 39% respectively higher than the preceding year corresponding quarter.

The Group’s operating profit of RM270.4 million for the current quarter is RM58.4 million or 28% higher than the preceding year corresponding quarter. The increase in both revenue and operating profit are mainly attributed to the Group’s better performance in its three main business segments, namely property development, property investment as well as leisure and hospitality. On this encouraging Q1 financial standings, the Group is optimistic that the local property market is expected to consolidate despite the challenging global economic environment with the demand for properties in the medium price range category to remain resilient.

The Group’s property development segment contributed revenue and operating profit of RM793.6 million and RM223.5 million respectively in the current quarter, an increase of RM291.4 million or 58% and RM46.0 million or 26% respectively compared to the preceding year corresponding quarter. The increase in both revenue and operating profit is mainly contributed from higher sales take-up rates for overseas projects in both Singapore and Xiamen, PRC as well as projects in IOI Resort City Putrajaya and Warisan Puteri @ Sepang.

Its property investment segment also recorded better revenue and operating profit of RM71.3 million and RM42.5 million respectively, an increase of 17% and 43% respectively compared to the preceding year corresponding quarter. This is mainly attributed to IOI City Mall’s increased average occupancy rates from 88% to 94% and upward rate revision upon tenancy renewal. Apart from this, the ideal locations of the Group’s property investments portfolios; within matured townships and high growth corridors have also contributed to healthy occupancy rates and rental yields.

Meanwhile, the Group’s leisure and hospitality segment recorded a RM2.1 million or 7% increase in revenue, to RM32.5 million in the current quarter as compared to preceding year corresponding quarter. The increase in revenue is mainly attributed to Four Points by Sheraton, Puchong and Le Meridien Putrajaya, with the latter commencing its business operations in August 2016. Its Chief Executive Officer Lee Yeow Seng commented that, “The Group will continue to focus on improving its group synergies to remain resilient and competitive.” On 22 August 2016, the Board has declared an interim single tier dividend of 8.0 cents per ordinary share, amounting to RM352,897,216 in respect of the financial year ended 30 June 2016.

— end of press release —

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Bandar Puteri Warisan by IOI, a comfortable home in Sepang

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Major reasons to buy a commercial property for your business or investment

[sponsored] These days, if we are looking at commercial properties, beyond just the typical specs (which we will look at later in the article), we needed to also look into 4 important factors too. Let’s understand that we may have the best business plans but we really needed to have the highest understanding that what we bought could be completed on time and as per specifications.

#1 – Who’s the developer?

The very first factor is to look at the developer behind the development. When we look at the current COVID-19 pandemic, our investment may be safer with an established developer. For example, if we are looking at developers who are listed, then it is super important to look at its financial results over the years. This gives us a good idea about the status of the developer and reduces the possibility that the developer may suddenly abandon the project halfway.

#2 – Where is the location where the commercial property will be built?

Most of us would prefer to support businesses which are nearer to our home versus driving 20km away just to buy something. This is why when it comes to commercial properties, it is best that it is situated within a mature neighbourhood and thus would have a ready catchment area. Now, the success of the business would just depend on your business plan instead of on whether there are customers or not.

#3 – Lifestyle will be the future

These days, lifestyle is in everything we do. Just look at the younger population of today.  When they jog or cycle, they will prefer to have jogging track around the neighbourhood and not on the main road shared with many cars. When they need to find a place to rest during their exercise, it’s best to be in a garden with lots of greenery and comfortable benches. Remember the days when people were okay with just a green grass field? It’s no longer sufficient today. Commercial developments have also moved on from just a few row of shop houses to integrated developments within townships.

#4 – Connectivity is key

It is essential that people could walk to your shop. Beyond that, there should also be road access and connectivity to the commercial development. Even more importantly would be the distance of the business to nearest public transportation stations. This will future proof the future potential because the growth in people using public transport would continue growing with even more lines connected to one another.

Regardless of the commercial development we intend to buy, these 4 factors should feature prominently in how we choose a good project to buy. Last but not least is to ensure we are not buying an overpriced property as well. Do a thorough due diligence, check out the typical pricing for similar properties elsewhere and compare and contrast prior to buying.

An Intro to IOI Rio township

Today, let’s look at a major developer in Malaysia’s latest new integrated development. IOI Properties’ Rio Development Concept. RIO stands for ‘Rejuvenated, Innovative and Original’. It integrates mixed use  components such as retail outlets, office towers and service apartment. Integrated developments offer placemaking opportunities.

Rio is an 80-acre freehold mixed-use lifestyle development. Very briefly, it integrates residential, commercial and recreational spaces all into one. The location is in Bandar Puteri Puchong which is a mature township with lots of businesses, major banks, amenities and eating places too. When it comes to buying into any mixed-use developments, it is important to look at its actual location too.

Mature township

Briefly, if we have retail outlets right next to the residential development but we could only reach those retail outlets if we drive, then there is no benefit to both the retail outlets and the residential development as both would not be supporting one another.

This is why Rio takes this into consideration and the development focuses on optimizing the use of space by encouraging walking and cycling. This not only helps to convert space into a place but it reduces the reliance on cars and motorcycles and thus reducing carbon emissions. By the way, it’s not just environmentally friendly, how many of us would love to walk along a road where the cars kept passing us and we kept breathing in all these unhealthy air around us?

Design Advantage

At Rio, the buildings are designed on vertical orientation. This gives the advantage of space for the owners and yet the footprint becomes smaller. This helps to give more space at ground level for community-friendly amenities such as parks and wide landscaped avenues. In turn, when it becomes a community space, this creates a vibrant environment.

Comfortable environment and full of greenery

In fact walking around will be comfortable because there would be shaded walking and cycling path and this gives priority to pedestrians and cyclists. This is the time to dust off that bicycle or the sports shoe you have not had the chance to use for a long time. The walking paths are on ground and above ground as well. Remember, healthy lifestyle, healthy us.

Within Rio, there are also an abundance of green spaces which will create a refreshing oasis for city folks. These include parks, playground and courtyards. All these green public areas are interconnected with walkways and when we arrive after a brisk walk, we arrive at the sprawling Central Park. This is how communities get connected to one another. This is also where we get to know even more neighbours and children get more friends.

For everyone who’s walking and cycling, you will be pleased to know that the walking and cycling path is integrated with green buffer zones, crossing through pocket parks for the soothing sights of greenery. Sometimes, life really is about enjoying the outdoors in a safe environment and at the same time staying healthy for the future. Take advantage of these amenities and conveniences please.

Connectivity

There are two (2) LRT stations within walking distance and there is also a shuttle service serving the city too.

Smart conveniences

For owners at Rio, you will also get to enjoy the following smart conveniences too:

– Smart Security

– Connected Community

– Smart Mobility

– Smart Homes and Offices

– Smart Energy and Waste Management

Are You An Aspiring Techpreneur?
Come & Join The IOI Kickstart Programme!

If you’re an aspiring techpreneur innovating change in the
real estate
,
food tech
 or
agriculture
 sectors, we’re looking for you! Come join us and use our place at IOI RIO as a launchpad for your business. We’ll help you set your operations up for success, accelerate your research and development, mentor you and share our resources, so you can bring your ideas to market faster.

– Start-up Grant of RM50,000*

– Business Mentoring by C-level leaders*

– Special Rental Rates from RM1 per year*
Submit your proposal at
IOI Properties Kickstart (click here)

Latest launches

The latest launch within IOI Rio would be 2 Rio Office Park and 2 Rio Office Tower.

More details as below:

FACT SHEET – 2 RIO , BANDAR PUTERI PUCHONG
Project Name
2 RIO Office Park
Property Type
Retails /Offices  Consist of 14 blocks with 5 storey for intermediate units & 7 storey for 2 corner units
Total Units
28 units of retails (ground &1
st
floor)  46 units of offices (2
nd
-7
th
floor)  Dual frontage   Each unit come with lift
Project Size
Approximately 6 acres
Location
Bandar Puteri Puchong
Land Tenure &   Title
Freehold   Strata title
Built-up Area
Retail units on ground floor to 1
st
floor: built-up varies from 1,536 sf to  2,315 sf

Offices units from 2
nd
floor onwards: built-up varies from 1,911 sf to 2,570  sf
Exp. Launch   Exp. Completion
Nov 2020    Q2 2021
Salient Points
•       Matured area with vibrant business activities
•       Low carbon sustainability development
•       Optimizes infra-structure & reduces carbon-footprint
•       A lively mixed-use district that based on sustainable concepts walkable  & cycle-friendly spaces amongst leafy streetscapes & lush open  spaces
•       More parks, pocket greens and landscaped avenues
•       Seamless connectivity to a network of parks, open spaces, playgrounds, courtyards & street level retail outlets
•       Smart detection of traffic volume to smoothen traffic flow
•       Secondary pedestrian linkages
•       Dedicated bicycle parking nodes
•       IOT driven public surveillance
•       Integrated, safe primary pedestrian and cycling paths for people friendly city

FACT SHEET – 2 RIO , BANDAR PUTERI PUCHONG
Project Name
2 RIO Office Tower
Property Type
Building: 1 block  Floor: 12 storey (level 3-14)
Level G: 29 Retail shops
Level 1&2: Car park floor
Total Units
180 unit office units   15 units per floor  4 lifts
Project Size
Approximately 6 acres
Location
Bandar Puteri Puchong
Land Tenure &   Title
Freehold   Strata title
Built-up Area
15 types of built-up vary from 866 sf –
1,616
sf
Exp. Launch   Exp. Completion
Nov 2020    Q2 2021
  Salient Points
•       Prestige arrival lobby with designer arrival lobby with turnstile system
•       Matured area with vibrant business activities
•       Low carbon sustainability development
•       Optimizes infra-structure & reduces carbon-footprint
•       A lively mixed-use district that based on sustainable concepts walkable  & cycle-friendly spaces amongst leafy streetscapes & lush open  spaces
•       More parks, pocket greens and landscaped avenues
•       Seamless connectivity to a network of parks, open spaces, playgrounds, courtyards & street level retail outlets
•      Integrated LRT stations with pedestrian network with other transport modes – bicycles, cars, taxis & buses

Serious consideration means asking lots of questions to the developer sales team. Only after understanding that we should decide on ‘buy or no buy.’ Call the marketing and sales office and drop by IOI Galleria @ Puchong. Contact information as below.

Website:
IOI Properties Rio (click to know more)

Scan QR Code for more info:

Marketing & Sales Office
IOI Galleria @ Puchong
Lot 5465, Persiaran Lebuh Puteri,
Bandar Puteri Puchong, 47100 Puchong, Selangor.
T: 603-8060 8833
F: 603-8060 8822

A Township Developed by
IOI Properties Group Berhad

Developer
Flora Development Sdn Bhd
(A Subsidiary Company of IOI Properties Group Berhad)

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IOI’s RM1.58 billion 400 acres land purchase

We often read about newer developments with gross development value of RM1 billion and above these days. However, it is not often that we read about land purchase itself being over RM1 billion. Well, IOI Properties Group Bhd is buying 400 acres of land from its from chairman Tan Sri Lee Shin Cheng. It is paying for this RM1.58 billion purchase with cash and new shares. As per announced to Bursa Malaysia, this piece of land has a combined gross development value of RM20 billion. This meant that the land cost to GDV is around 7.9 percent which is still low by any standard.

The purchase involved two separate pieces of land. Based on the valuation report from Jones Lang Wootton (JLW), the two pieces of lands are worth RM2.06 billion and RM440.10 million respectively. In other words, the current purchase price should be considered acceptable even if it’s considered a related party transaction. The landbanks are located within IOI City Resort, fronting the entrance of Putrajaya and next to the South Klang Valley Expressway. It is also adjacent to the current development of IOI Properties. In other words, it will allow the current development to be extended further. The advantage to this is that it will also gain from all the infrastructure already put in place thus far.

Property development takes time. Thus, even if the GDV is stated as RM20 billion, it is likely to be realised over a long number of years. Besides, with issuance of new shares, it meant that the earnings per share of IOI Properties would be diluted. Net gearing ratio would rise from current 0.07 to 0.1 times. This is considered low among the many listed developers. After this purchase, IOI Resort City would have 449.7 acres of land, up from it’s current 50 acres. I do not own any IOI Properties Group Bhd’s shares currently but I think if you are taking a long term view and would like to buy a property stock, it’s worth taking a look. According to Hong Leong Investment Bank Bhd analyst Jason Tan, the target price (TP) for IOI Properties shares have been increased from RM2.27 to RM2.77. This meant there is still a potential for some price upsides. Note, buy only if you understand what you are buying, not when someone says, buy. Perhaps we may also buy its future project instead if shares are not to our liking. Happy deciding.

written on 21 Oct 2015

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Profits dropped 70%, sell or hold or buy?

One of Malaysia’s largest developer, IOI Properties reported a 70% on quarter drop in net profit for Q1 of 2014. Government price-controlling measures were cited as one of the reasons. If you own their stock, what would you do now? Quickly sell? If you sell, they call this knee-jerk reaction. However if you did not sell and instead understand how the dynamics of a property stock goes, then you would know that for property developers, it is always cyclical. This is what IOI Properties said, ‘The outlook for the property market in both Malaysia and Singapore remains challenging especially in the high-end segment’  When we take this as serious, it simply tells us that perhaps their current product mix is more for the high-end segment and since the high-end segment has been slowing down since last year, without any doubt, it has affected them.

Buying a property stock is not like buying a retail stock like departmental store or even a REIT. most of the time for these stocks, it is much more stable in terms of their outlook. This also meant that it may be tough to suddenly report a 70% up in profits because all things being equal, the supermarket cannot suddenly sell many times more than what they are selling today due to the typical competition. The REITs also cannot suddenly increase their rental by 70%! Thus, it is very uncommon to see a property stock reporting almost identical profits every quarter.

Some other developer’s latest results are as follows:
Glomac Bhd’s Q1 ended with a contraction of 10.35% despite a 14.9% increase in revenue due to higher land conversion premium and construction costs. IJM Land meanwhile saw its profits going up by nearly 4 times in it’s quarter ended Dec 31, 2013. Before you rush to buy, please note that this includes a one-off land sales and fair value gains. Without this extraordinary gain, its net profit actually went up by 17.4%. Let’s look at another developer, SP Setia. For the first quarter which ended on January 31, pre-tax profit rose by 8% when compared to the same quarter in 2013.

Okay, what did you learn from all these thus far? Well, as at all the latest results, every developer reported profits, even if some saw the % dropping significantly or some gaining a moderate 8%. This is despite the fact the primary transactions has been dropping since the year 2012 and this is despite the fact that many of the new launches are now priced more reasonably. Should you buy the stocks now? I do not have sufficient resources to invest more money into stocks, but if you are thinking of holding the stock over a longer period of time, I think now’s the time to buy especially if the price has gone down due to some of these negative news of reducing profits.

written on 26 May 2014

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Press Release: IOIPG shows resilience with higher Q4 FY2022 core profit

IOI Properties Group Berhad (“IOIPG”) achieved a revenue of RM715.9 million which is a 9% rise compared to the preceding year corresponding quarter in Q4 FY2022. The increase in revenue is underpinned by strong performances from the Group’s property investment and hospitality and leisure segments.

The Group’s property development segment recorded a revenue of RM561.1 million, a decrease by 3% compared to the preceding year corresponding quarter due to lower sales of properties in China. Notwithstanding the slower sales in China, its operating profit rose by 37% to RM228.1 million compared to the preceding year corresponding quarter. This is mainly attributable to higher profit contributions from IOI Palm City, China and higher sales of commercial properties in Malaysia.

In the property investment segment, the Group recorded a strong performance with an increase of 89% in revenue to RM51.3 million and a 109% rise in operating profit to RM19.9 million compared to the preceding year corresponding quarter. This is mainly attributed to the increase of footfall within the mall operations in Malaysia as a result of the resumption of all economic activities and higher retail spending in light of the attractive mall offerings during the quarter under the review. Apart from that, the commencement of recurring leasing income from the business commencement of IOI Mall, Xiamen, China in October 2021 has also contributed to the increase in the segment’s revenue and operating profit.

For the Hospitality and Leisure segment, revenue soared to RM42.4 million, an increase of 124% compared to the preceding year corresponding quarter. This strong performance is mainly attributed to the robust domestic demand that has returned with the withdrawal of travel restrictions, the reopening of international borders and the celebration of festive seasons during the quarter under review.

Nevertheless, IOIPG is cognisant of external headwinds such as inflationary pressures and global supply chain disruptions while remaining steadfast to capitalise on improving conditions of our nation’s economy throughout the financial year.

Meanwhile, Bank Negara Malaysia has announced an 8.9% growth of Malaysia’s gross domestic product which reflects the normalising of economic activities as a result of its transition to the endemic phase and the reopening of domestic and international borders.

“The transition towards endemicity continues to steer our nation towards a healthy recovery in all sectors of its economy. Hence, we are confident that this will bolster market and economic conditions which will augur well for all business segments across IOIPG,” said IOIPG Chief Executive Officer Dato’ Voon Tin Yow.
The Group’s property development segment recorded sales of RM1.9 billion in FY2022. Despite the Klang Valley region reporting a decrease of 8%, it was still responsible for 48% of total group sales achieved. Meanwhile, overall sales from Malaysia contributed towards 77% of the total group sales, which saw its highest percentage increase of 44% from the Johor region.

IOIPG acknowledges the macroeconomic and sectoral concerns brought on by rising inflation, supply chain disruptions and interest rate hikes. Nonetheless, the Group remains optimistic as it is well-positioned to endure these challenging times. In the next financial year, IOIPG will be focused on enhancing its value to further improve profitability. To achieve this, the Group will be launching products with higher margins corresponding to the maturity of its landbank and infrastructure of its integrated developments.

In the retail and hospitality segments, the withdrawal of movement restrictions continue to support a strong recovery in these segments. The opening of IOI City Mall Phase 2, which is scheduled in end August, will make IOI City Mall the largest mall in Malaysia with an increase of its net lettable area to 2.5 million sq ft. Additionally, the expansion will introduce more than 300 new retail outlets, bringing the total number of retail outlets to over 700. In light of the expansion, IOIPG anticipates stronger contributions from higher recurring lease income within this business segment. Meanwhile, the refurbishment of two hotels, Putrajaya Marriott Hotel and Palm Garden Hotel, Putrajaya, a Tribute Portfolio Hotel, ensures that the Group is well-poised to respond to any increase in international and domestic tourism.

On the international front, the property market in China has been impacted by curtailed economic activities and diminished consumer confidence as a result of resurging Covid-19 outbreaks and subsequent lockdowns combined with further escalation of the property sector crisis. In response, the Central Bank of China has announced a series of easing policies, in an effort to end the property downturn that has hampered growth in the second quarter. Meanwhile, the Group’s marketing campaign is anticipated to drive sales of its completed development in Xiamen, China. In response to the challenges arising from the strict lockdowns and movement control which has affected our mall operations in Xiamen, IOIPG has adopted a pragmatic tenant retention strategy to maintain occupancy rates and to support our tenants as business partners.

In Singapore, the Group has commenced its planning of a mixed development for its Marina Bay site. Meanwhile, the development of IOI Central Boulevard Towers is on track to be completed in the second half of 2023. It has secured an international anchor tenant, which is expected to promote a strong tenant mix for this development. Furthermore, this Grade A commercial development has dedicated over 120,000 sq ft to green landscaping with building design features that includes the harnessing of natural sunlight, double-glazed glass façade and well-designed acoustics among others which are aimed at reducing operational carbon footprint. This reflects the Group’s ESG aspirations to safeguard the environment, which is in line with our vision to be a Trusted. brand.

Moving forward, IOIPG remains vigilant in the face of persisting domestic and global challenges. In acknowledgement of these headwinds, the Group will forge ahead with a strong pipeline of projects along with channelling its focus towards selling completed units across its developments in Malaysia, Singapore and China. The Group will also leverage on its prudent and professional management capabilities to continue delivering satisfactory performance across all its business segments.

END

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iPhone’s softening demand drags down world stock markets?

iPhone users are typically very loyal to the brand. They may be proud to learn that iPhone is a very powerful device. Nope, not talking about its specs. The power of iPhone in affecting world stock markets.
Here’s that article saying so in TheStar:  Apple, trade woes sink global stocks; growth worries drag on US$
  Due to the softening demand for iPhones, it has dragged down the world stocks market yesterday (19 Nov 2018). Another reason was also mentioned; trade tensions between China and the United States but that has been happening for many months and not just recently. With the decline of Apple shares and its suppliers, the U.S. benchmark S&P 500 stock index dropped 1.7 percent.

The Wall Street Journal reported Apple had cut production orders in recent weeks for iPhone models it launched in September. (Just launched 2 months ago and production orders are cut. By the way, the sales of the few major Chinese brands continue to rise; Huawei, Xiaomi, Oppo and Vivo.)  As for the trade war,
U.S. Vice President Mike Pence shared that there would be no end to U.S. tariffs on $250 billion of Chinese goods until China changed its ways.
Full article in TheStar for reference here.
 By the way, this was China’s latest statement about the trade war. President Xi Jinping said,
“History has shown that confrontation, whether in the form of a cold war, a hot war or a trade war, will produce no winners. Attempts to erect barriers and cut close economic ties work against the laws of economics and the trends of history. He added, “This is a short-sighted approach and it is doomed to failure.” That article in
BBC for reference here.

Last week, I shared with a good friend that competition is also about ‘fighting’ FAIRLY. One cannot ask for access into another market or forces other markets to be open and yet closing one’s own market to the world simply because of trade deficits. Actually, we are also seeing this with Brexit where some parties wanted the European Union (EU) to grant the same access to British companies BUT for Britain NOT to adhere to the requirements on EU member states, especially a major one which was the immigration part. One recent article here:
Uncertainty is not good for the market
  Beyond these, there’s also the SUBSIDY which some farmers get in advanced nations just so that they can compete with farmers from developing and poorer nations. At the same time though, these poorer nations are asked to be FAIR. Well… this is the world of today. Happy following.

written on 20 Nov 2018

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IPO Malaysia: Pekat Group offering 21.5% of the company to the public

IPOs for 2021 are expected to be better than 2020.
Here’s that earlier article with this prediction. 30 IPOs expected for 2021.
 There has been a few IPOs already and the interest in them are also on the way up. Interest meant the oversubscription numbers. Now, we have another one on the way to list in the ACE Market of Bursa Malaysia.

Article in themalaysianreserve.com
 SOLAR Photovoltaic (PV) and Earthing and Lightning Protection (ELP) specialist Pekat Group Bhd expects to raise RM44.4 million under its proposed listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement today Pekat shared that its listing is tentatively scheduled on 23 June 2021. The statement said, “Pekat will further utilise RM12.7 million (28.6%) for working capital requirements in particular for purchase of materials for its projects such as solar PV modules, solar PV inverters and ELP products and accessories; RM10.0 million (22.5%) to repay bank borrowings while the remaining RM3.7 million (8.3%) to be used to defray listing expenses for the IPO.”

Pekat is issuing 138.7 million new shares in Pekat representing approximately 21.5% of the enlarged share capital at an issue price of RM0.32 per share. Do read the full article here:
Article in themalaysianreserve.com

Listings are also a sign for the market

When there are only a few companies going public, it also meant the companies may not be confident enough that their shares will be fully subscribed. Or that the valuation accorded to them will be good enough. When more companies see that the market is ready, more would want to go for listing. Usually, this helps the owners to also realise some profits by selling some of their shares too.

Else, if just rely on the salary alone, it is likely to be slow. I mean, if one has worked so hard to build up the company, why not share the future potential with the public while at the same time have some money to do what one pleases. For the public, if investing into a company also allows them to partake in future and perhaps a good dose of dividends, then that may also be a good choice too. Remember yeah, past performance is no guarantee for future performance. Due diligence is needed for all investments.

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Looking at IPO Malaysia? Here’s another one coming in May 2021.

If we love property investment, we could choose to buy a property. This is usually very expensive and we may need to continue paying and holding on to it for many years. We could choose to buy into Real Estate Investment Trust (REIT) which gives us continuous dividends, especially if there are some commercial buildings we love and this is part of a REIT fund. If we love a certain property but we could not afford, we could also buy the developer for that property too if the developer which is listed in the BURSA.

If you love the third idea, then here’s another one counter which is joining the Main Board and it’s real estate related too. Not as a developer but as a sub-contractor to many developments.

Article in thestar.com.my
.
  Tuju Setia Bhd will be listed on the Main Market on May 19. It aims to raise RM56 million from its IPO on Bursa Malaysia.

Managing director Wee Eng Kong said, “The funds raised will help enhance our core competencies and position us to better undertake new projects currently being tendered worth RM4 billion.”

As at March 2021, Tuju Setia has secured four new contracts to build high-rise buildings, bringing its total order book to RM953.1 million, which would sustain earnings till 2024. The order book comprises Mutiara Central Office Suites (Cheras), Segambut’s Riana Dutamas – Phase 2, The Pulse Residence in Bandar Puteri Puchong, 121 Residences in Petaling Jaya, Desa Parkcity’s PPAM Sofiya Residensi, Emerald Hills – Phase 3 and 4 in Cheras, Shah Alam’s TUAI Residence and the Kajang Women and Children Hospital projects. Do read here for the full details:
Article in thestar.com.my
.

Why construction company and developer is different?

If developer completes the project and they could not sell fast enough, this affects its cash flow. A construction company will get paid when they have completed what they have been tasked to do. They do not need to wait for all the units to be sold to receive their money. This is why when we buy into a listed sub-contractor and a listed developer, we need to understand the difference. One may have to rely on winning the next construction contract while the other would have to rely on selling their developments quickly. Happy deciding yeah.

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Ipoh airport gets Malindo too! Awesome.

Another piece of good news for my hometown Ipoh. It was reported in Bernama on the possibility of Malindo starting their services from the Sultan Azlan Shah airport in Ipoh. It said that Ipoh will be a hub to several new domestic and international destinations. The domestic ones are great but the international ones (Indonesia and Singapore) are the ones I am more interested in. Ipoh has many private hospitals but you cannot expect some of these patients to fly to KL and then take the coach to Ipoh for treatment right. Just like private university students who wants to study here in Ipoh can’t be flying to KL and then take the coach to Ipoh. It just do not make sense at all. I can go on but never mind, with this piece of good news, it will be enough for now. As for Singaporeans, especially the middle income ones, I think Ipoh would be one of the best places to really relax and yet still enjoy lots of great facilities such as sports stadiums, parks, cafes and everything else. Penang is good too but Ipoh offers SPACE.

I have only taken Malindo once. Nothing special but nothing bad either. They give you a piece of cake and a small bottle of water. It’s enough for a short trip. What else do you want for that price? With Malindo, at least we have an additional choice because currently, the air fares, to and fro Singapore is very expensive! In fact I could fly to my Sandakan home easily with that kind of price. Sometimes, competition helps tremendously, keeping everyone alert. Of course, due to the size of the runway, Ipoh airport can only accommodate these smaller planes but think about if every hour, one of these lands? That would be a minimum of 8 flights in and 8 flights out per day. This would easily bring in 800 visitors per day or up to 300,000 per year. Not bad at all, from such a small number today.

I would not want to say Ipoh’s properties are cheap when compared to KL because if you want great locations, it is not that cheap either but when I talk about great locations, it is really prime and near to green lungs which you will feel comfortable to wake up each morning to. Plus all other conveniences just a drive away. In KL, when you take about green lungs. The food diversity is second to none unless you must have just char koay teow or laksa, then you would have to go to Penang.

written on 14 Aug 2014

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Ipoh Developments – Latest – March 2014

News about more developments in Ipoh is always a good news to me. Many of my Penangites friend dared not tell me these days that Ipoh is only a Ngar Choy Kai town. I did not punch all of them, merely bringing many of them to Ipoh to taste what food varieties Ipoh has to offer and I would always remember the first time I brought two of them to taste ‘Dry Curry Mee’. Both of them ordered two plates instead of just one plate! This is despite the fact that typical hawker food in Penang is in a smaller portion than Ipoh.

A company based in Ipoh,
City Motors Group
 would be building up to five projects in Ipoh valued at between RM100mil and RM200mil. In the property development world, especially in Iskandar, Greater KL or Iskandar, this is considered small. However, RM100 million in Ipoh is definitely considered above average size. First to be built would be its new headquarter in the city centre and there will be new block of apartments followed by another hotel which meant that this development would be a new landmark in Ipoh.

I love all these new developments but for the developments to be really sustainable, Ipoh needs to be connected to the world. For example, a new regional airport will help tremendously. Many Hong Kong residents would no doubt find Ipoh to be friendly for them due to the local dialect but also extremely affordable for them if they were to fly in for leisure or pleasure. In fact, while many said Malaysia is a top destination for retirement compared to the rest of the world, I would like to say so many of my friends have asked me many times, what do I think of Ipoh as a retirement place. I corrected them, not retirement place. It is a retirement haven. I am just not sure if it will always be this affordable if everyone and anyone starts flocking to Ipoh and causes the property price to also increase faster than its leisure pace currently.

I hope to also carry out a small project for myself in Ipoh perhaps next year. Buying an old secondary property, turn it back into a modern place big enough for my whole family to stay, when we intend to go back to Ipoh in future. I have zero experience in this but I think I have enough friends in the industry to help and the amazing thing is, it’s still considerably cheaper to do it compared to anywhere else. Of course, nowhere is near my heart when it is compared to Ipoh. Cheers.

written on 16th March 2014

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Ipoh’s integrated edu-city project in Bandar Meru Raya

Ipoh is definitely not a sleepy city as mentioned by many. In fact, even Ipoh’s airport is becoming alive with flights from even out of Malaysia today. Read here:
Ipoh flights to Subang, Johor Bahru, Medan and potentially Langkawi and Krabi
  Another new development is coming up in Ipoh. Many years ago, when people mention Bandar Meru Raya, it is considered a secondary area. This is continuously changing. Besides the many developments, there will be a new RM1.1 billion integrated edu-city in Bandar Meru Raya.

It will be undertaken by Green Venture Capital (GVC), a subsidiary of Wawasan Qi Properties Group and China Energy Hua Ren Industrial Investment Co Ltd (CEHR). The project called Qi City Development Project is expected to start construction by the first quarter of 2016 and expected to be completed in three years. The development comprises a teaching hospital with public and private wings, Quest International University Perak (Qiup) campus, three condominium blocks, a medical rehabilitation centre and hotel suites. According to GVC executive chairman Datuk Seri Vijay Eswaran, this will create the first education and medical hub in the country.

Quest International University Perak started in 2008 and has a few faculties which includes Faculty of Medicine. I think if students are really serious in studying, Ipoh presents a very good, clean and safe environment. It is also in the middle of Penang and KL and connected by expressway, trains and even airports. As for the condominium blocks, I think it depends on how successful the hospital and medical rehabilitation centre is. As at today, Penang has the lion share of overseas patients and is already very congested. Ipoh may provide a good alternative, cheaper too. I await the completion of this development. Happy thinking about Ipoh.

written on 27 Oct 2015

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Ipoh flights to Subang, Johor Bahru, Medan and potentially Langkawi and Krabi

I do not like it when people call Ipoh a sleepy hollow. You can have non-stop activities like walking, climbing, drinking, exploring, EATING and there is just no time for you to sleep. Sleepy? Hollow? Just because there are no flights, thus Ipoh is not well known enough and you call Ipoh a hollow place? It does not help that Ipoh airport is in the middle of a housing area. Sigh, there’s just limited land for further growth. Now tyou understand why KLIA and KLIA2 is out of the city centre? Malindo started its flight to Subang recently and the flight was nearly full. What’s more important however is that there are more flights out to and fro Ipoh being planned.

Soon, we would have Ipoh – Johor Bahru, Ipoh – Medan and potentially Ipoh – Langkawi and Ipoh to Krabi. My friend who’s working in Singapore just complained that with Firefly, everytime she needs to fly back to Ipoh from Singapore, it will cost her close to RM3,000 for her family of 4, including transportation costs etc. With Malindo I think she can think about taking the flights from JB perhaps. Anyway, the more competition, the better for the consumer. How much is the typical flight from Ipoh to Johor Bahru? Take a look. Very much cheaper! No idea if this is promotional price.  This is not the only good news. It may also launch the Ipoh – Singapore flight using a Boeing!

A working and lively airport is badly needed for Ipoh. After all Ipoh is the capital city of Perak. Don’t just look at the general tourism. Team up with the private hospitals, go for more medical tourism visitors. Team up with the universities, go for students who wants to obtain an English based qualification for lesser cost than going to developed countries. This is the reason why we have a lot of students from China today. UK qualifications but at a cost which is in RM. Get international food critiques and bloggers to fly in to Ipoh. Understand the real diversity and the delicious food which is second to none, especially compared to some cities which have just a few food choices in all of its restaurants. In Ipoh, you will not find many restaurants selling that few types all the time! Besides this, Ipoh has nature related attractions including even white river rafting which is relatively unknown. Many people until today still think Ipoh is only for Taugeh Chicken and Dim Sum which always ruffle my feathers. Whoever dares to say that in front of me better be prepared to defend your city, no matter which city you are from in Malaysia.

written on 10 Oct 2014

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Ipoh Property Boom? I seriously do not think so, not yet.

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Ipoh, Movie Animation Park Studio is coming!

Another new attraction will be opened in Ipoh by end of 2015. That’s just 16 months away. It is a Movie Animation Park Studio (MAPS) and it would be Asia’s first animation theme park. As per Business Times, the animation park would cost RM390 million and is a joint venture by Sanderson Project Development Malaysia Sdn Bhd and Perak Corporation Berhad. This should boost the tourism in Ipoh, specifically.

Today whenever I ask my friends to visit Ipoh, those who know me would not dare talk about just the Taugeh Chicken or even Foh San Dim Sum. Briefly, I am not against these two but Ipoh dim sum, there are many very good ones and there’s no need to queue up 30 minutes to get a seat! As for Taugeh Chicken, it’s good but do you know that diversity in great food is Ipoh’s plus point and not just one? Okay, let’s not argue about food. Just agree with me, Ipoh has food diversity worth your time and money.

Ipoh has no prominent theme parks thus far. Thus, the typical choices would be to drive to KL for Sunway or to Bukit Merah for the water park. Honestly, I have gotten a little tired and Bukit Merah has gotten a little jaded, there has not been huge changes. Sunway is good but if you have been there over 6 times, I think it’s time for a change. Ipoh would have its very own MAPS.

Okay, there’s also Sunway’s Lost World but that’s more water based. MAPS is more of a dry park and this will complement Sunway’s Lost World very well. At least now, if you really want you can come on Saturday, enjoy the MAPS, eat till you ‘half drop’, stay a night and the next day visit the water theme park and relax before eating till you ‘half drop’ again and then arrive home just in time for your dinner. Why not?

What’s in MAPS? There would be nine themed retail outlets, more than 40 attractions including 24 world-class rides and 4D theatre, a 5D simulator, an outdoor canopy ride, a motion simulator, a tower drop and a car stunt show. Car stunt show sounds very interesting as I have not seen anything like it thus far. Hopefully it would be those cars which are driven tremendously fast and jumps over a long row of car! That would be worth going.

However, to be very honest, the demand is not going to come from the few planes flying into Ipoh’s airport which is virtually unknown to many. The demand would come from those who drive in. Cities which are 2 hours away or 3 hours at max. Most of Perak smaller towns, Penang, Sungai Petani, Klang Valley and perhaps furthest may be Malacca. I think this may just work. Just ensure the maintenance is always given priority and I think we may have another great attraction for Ipoh.

written on 14 July 2014

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Food, entertainment and accessibility, that’s Ipoh.

Ipoh food diversity is second to none. This is true even for the visitors from the many islands which always claim they are the best but said Ipoh is famous only for Ngar Choy Kai. Food aside, the number of flights into Ipoh are also increasing. At the last count, there are already three airlines operating and about to start operating with a fourth one aiming to start too. Read here:
Ipoh flights to Subang, JB, Medan and potentially Langkawi and Krabi

Ipoh is also in the middle of Klang Valley and Penang which can be an advantage if there are enough attractions for these visitors to stop by or even make it their usual weekend getaway.

More importantly, Asia’s first animation theme park Movie Animation Park Studios (MAPS) would be opening in Ipoh, as early as March 2016. That’s just 9 months away. I could see the buildings coming up overtime I pass the Ipoh toll. It certainly looks impressive because just for the first phase alone, MAPS would already be hiring 400 employees followed by 600 in the second phase. MAPS would be featuring over 40 rides including Malaysia’s first DreamWorks Animation dedicated zone with popular animated characters like Mr Peabody and Sherman, The Croods, Megamind, and Casper the Friendly Ghost. SMURFS would also be another attraction as well. Up to 1.4 million visitors are expected within the first year of operation.

When I asked a close friend recently on some potential condos to buy, she gave me no less than names of 5 different projects. I think perhaps Ipoh is really showing some vigour after being quite a sleepy secondary city for older folks. Please do not forget that ETS now runs through Ipoh from the northern part into Klang Valley. It is also tough to get a car park during holidays or weekends at Sunway’s Lost World of Tambun. Perhaps I should tell people that Ipoh city can be Malaysia’s Happiness City. Good food, entertainment attractions and even accessibility. Happy visiting.

written on 21 July 2015

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Ipoh is also a property hotspot?

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International airport is needed. Business sustainability vital though.

In the business world of today, PROFITABILITY should be a key metric. Please stop talking about ever growing market share or ever more customers
but the company kept losing money.
 Seriously, I am not sure how any airport builder cum operator could be profitable within a few years. For example,
assuming the construction cost is RM1.5 billion
 and the repayment is RM200 million per year for the next 10 years, you can see that it’s quite çrazy. A good comparison?
 MAHB just reported a net profit of RM167 million
 for all its Malaysian airports for latest quarter. Annualised, this would be RM668 million and this is for ALL its local airports. What if the new international airport is just outside Ipoh and costs RM1.5 billion to build? Here’s that recent piece of news about something that has been talked about for a long time.
Yes, I do wish that Ipoh would have a new airport too.
 Well, unless of course the airport builder happens to also own an airline which he could leverage on. (hint… hint…) Else, discussion or even invitation for more airlines to fly in would take a long time.

Cost may not be the biggest issue. It should involve business feasibility too. I love Ipoh but an international airport would have to connect the world into Ipoh. For Ipoh, in particular local tourists would drive in. The reason is simple, Penangites would drive to Ipoh instead because it is just 149km and the journey will only be an hour and 20 minutes even at the designated speed limit. KL to Ipoh just 204km and this is less than 2 hours even if we were to drive slower than 110km per hour. This is the reason why during the holiday season, Ipoh is jam packed with cars and all those good food places would be crowded with people who has not eaten delicious Ipoh food for a long time. Haha. (You should see how they order the famous Kaya Kok or the Tau Fu Fa or even the dry curry mee. Ok, I deliberately skipped Nga Choy Kai) Have we done enough to ensure that visitors would love to visit Ipoh as a full tourist destination and not just to eat some good food and go home right after? Got lah.
Perak is full of wonders.

Perhaps more details about some near future survey which can show that the local tourists from other states would fly in. Plus some targeted countries who already know Ipoh and other smaller towns in Perak. Trust me, no one wants to have an airport which is not 50% full within year 1 or 80% full within 3-5 years. Let’s dream big but let’s make sure steps are in place to make sure our dream is also comforted by lots of real actions. Who knows one day in future, I could fly to some Chinese cities from Ipoh? DIRECT flight. Or East Malaysia cities and towns? Seriously, if there are connections, assuming I missed my flight in Penang, I could still fly from Ipoh. 🙂 Now that’s what I call National connectivity to the world. Cheers.

written on 11 Sep 2017

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Ipoh Property Boom? I seriously do not think so, not yet.

An article about Ipoh property boom in a local daily piqued my interest. It was about the Ipoh property boom. It said that many people are buying homes in Ipoh and this is leading to a property boom. Frankly, I would say, not yet lar. There’s no sustainable factor that I can see at this moment. One example, Greater KL properties, it’s booming because that’s where all the economic activities are. If you want a better career, you work in KL.  Iskandar properties, it’s right beside Singapore and the missing ingredient are just more linkts.  Kota Kinabalu properties, if you do not know, the KK airport is much more busier than Penang International Airport and KK has Kota Kinabalu Mountain and one of the best resorts facing the South China Sea.  Penang properties has the support of the manufacturing hubs, not just within Penang but in mainland and recent few years booming tourism.  Ipoh??

First of all, for those who are new to kopiandproperty.com please read all my Ipoh articles. I love Ipoh, pro-Ipoh and would definitely retire in Ipoh. However, property boom in Ipoh is definitely not yet happening. Current buying are still sporadic and most of it because of some of the sons and daughters wanting a place to stay when they are home to Ipoh etc. Besides that, many younger population also wanted to buy a place because they are old enough and may not want to stay with the parents. There are also many home owners who leave their house empty because they can afford to do it.

There are more launchings, that’s for sure, especially the high rises. However, do look at the take up rate. It’s still considered slow. My cousin sister bought a landed property from a developer who told her, ‘this is last day and I have only a few rows, you better buy now.’ That same few rows of properties are still in the market today, few months after she bought. Ipoh is also growing more ‘trendy’. There are actually lots more of the nicely decorated cafes serving coffee, cakes compared to even Penang today.

A few examples were quoted about new and upcoming projects and a special mention of The Haven Lakeside which was completed last year. The Haven is indeed a very good quality project. However, do you know how hard the developer had to work just so that the project become a reality? In terms of quality and the environment I rate it first class yet, sales were slow! The following were also mentioned:  The Suites in Times Square Ipoh along Jalan Raja Dr Nazrin Shah, Upper East@Tiger Lane along Jalan Sultan Azlan Shah, The Octagon in Ipoh city centre, SE7EN along Jalan Tun Ismail, Casa Bintang Residence along Jalan Sultan Azlan Shah, The Majestic in Ipoh city centre, The Signature in Greentown Ipoh and Royal Garden along Jalan Raja Dr Nazrin Shah as well as Treetops located off Jalan Raja Dr Nazrin Shah.

For some of the names listed above, please go online and check, when some of them started it’s launch. Not all enjoyed brisk sales right from the beginning. Some are still selling today, even after years on the market.  Landed is however a little more different, especially if the developer is a well-known one. There are many that I know which are enjoying good sales. In fact my friend who worked in Abu Dhabi bought a huge unit in Taman Seri Botani recently saying it’s for family. Some of the landed ones include:  Hua Yang Bhd’s Greenview Residence in Bercham, Kaizen’s Dorset Place, Kaizen’s Golfview Residence. Bandar Seri Botani by Taiko Properties, Tiara Lake Park by Total Investment and Taman Silibin Ria by Upaya Emas Sdn Bhd. There’s even a retirement village by Total Investment called GreenAcres.

I did however told my mum, if the neighbour on our left or right or back wants to sell, tell me. I will see if somehow I can afford it. Well, I think not just me but a lot of the Ipohans may be telling this to their mums. That’s a partial reason why Ipoh properties are now more popular. Booming is however a word I would reserve for later, if the airport works better and the proposed entertainment projects start or the train services are enhanced even further etc.

written on 6 Sept 2014

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Ipoh is also a property hotspot?

A few weeks ago, an old friend said to me, ‘wow, Ipoh is now a property hotspot. So many new project launches’. Some time back, someone from Penang said that property market in Penang is very developed and is maturing. Let me tell my opinion in one word. Sorry. Yes, just an apology because I do not agree. For this article, we shall look at only Ipoh. How do I define hotspot? Well, it should always feature in every property conversation amongst investors. I repeat, investors. Not your uncle thinking of buying a new property for his son who comes back once in a while or your parents who wants you to buy a property nearby them or even your own choice to buy a property because you think one day you will retire in Ipoh. NONE of these instances makes Ipoh a property hotspot, except the first instance.So, my conclusion for Ipoh is that it is not a hotspot.

Since Ipoh is not a hotspot, why should anyone buy? This is a funny question because why would you buy when it is a hotspot? Why not buy before it can be a hotspot? Just like if the whole stock market is down, why not buy instead of trying to buy so high when it has gone up so much and has potential to just crash? Why buy gold when it’s on the way up like so many and thus driving it up higher a bit and then crash? Why not buy when the gold prices are going down because the US$ is going up? Do you think the US$ can keep going up when their own economy is actually not really healthy even until today? I hope I have answered the question of, should you buy now since Ipoh is not a hotspot. Buy potential, not buy for ‘superficial’ reasons.

If you ask me however since Ipoh is not a hotspot, then what is it? I think for many Ipohans who work outside and have experienced the outside world, Ipoh is a softspot. For Ipohans and even for people who have stayed there, they would know. Actually this is very important. When you love something, you buy it because you love it. If it’s hotspot, you are buying it because everyone else is buying it. Would I be buying in Ipoh? Answer is a firm yes. If the location is not too far from my parent’s place and the design is nice and I can afford it, yes I may buy one in the near future. Would I encourage people to buy in Ipoh? I think if you have read my articles about Ipoh you would know that Ipoh is a great place to stay and enjoy everything that bigger cities offer except the pace. The many recent rankings only serve to reinforce Ipoh as a retirement haven which is still exciting enough. Note: the best snowbeer thus far for me is in Ipoh. In my life thus far, I have stayed in Teluk Intan, Ipoh, Penang, Subang Jaya, Bristol, Kelana Jaya and currently Damansara Damai. I seriously think I am more qualified than many to talk about which city/town is the best in my opinion. 😛

Until today, if you really want to compare between cities, Ipoh is definitely on the cleaner half. If you want to compare food, especially in quality and varieties, Ipoh is above that tiny food haven that always say they have the best food but the truth is, every coffee shop you go to, the varieties are almost similar. Haha. If you would like to further your study, Ipoh offers many good universities with very good facilities. It has stadiums, pools, squash courts, badminton courts, velodrome and even a world class hockey turf. I could not think of that many cities with all these and more, except for Kuala Lumpur?

Now the question that some of my friends like to ask me, if Ipoh is so great, why are you working elsewhere? The answer remains the same. Working place and the living place can always be different. Just like there are some who ‘jumps aeroplane’ to work in other countries so that they can earn more. Perhaps for me, its not that extreme because I can go back to Ipoh every weekend and be with my parents. Currently working hard and investing smart so that when my parents really want me to go back to Ipoh, I would be ready. Don’t believe me? It’s ok. Carry on your investment and trumpeting that your city has the best food. All of us should anyway. Take care.

written on 1st January 2014

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 Ipoh Property Boom? I seriously do not think so, not yet.

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Ipoh property market. Not as exciting as the 4 usual ones but holding well.

Ever thought of Ipoh property market?

I was born in Teluk Intan. So, I am a Teluk Intan boy. I studied in St. Anthony in Teluk Intan. My parents still own the property we stayed in. I do like that property as it has so many memories. Of course, I do not think I could recognise it today as I have not been inside for at least 33 years. Then, I moved to Ipoh when I was 10 years old, so I tell everyone my hometown is Ipoh. I studied in La Salle, then Seri Putera and then Anderson School. If any of these schools matched yours, hey we were schoolmates before!

At the moment, I do not own any property in Ipoh. I just need to go back and stay at my parents’ place. Are there potential choices in the future, that’s always a possibility. For now, let’s just look at the property market on an overall basis? Maybe we look at the property price trend? In one word, positive. Take a look at the image. That line basically is moving upwards and it’s on a stable trajectory. Generally, if you own a property in 2016, by 2020, you would have enjoyed capital appreciation.

What’s upcoming?

Since you know the property prices do increase in Ipoh, even if it’s a slow process, what are some of the upcoming properties which you could view and perhaps ask more questions about? Well, it’s not a surprise, most of the new properties are landed ones. Ipohans are not great fans for high-rise. Most are 2-storey because there is no need to maximise the space by building three storeys and reducing the width. Prices start from just RM291,000! Haha. KLites must be wondering if the developers there are all losing money…

As for the condominium, there’s even one overlooking my school. Haha. It’s 1,030 sq ft and it starts from RM232,000. The name? Of course, it has to be called Anderson Condo.

How’s Ipoh as a property market?

It’s a great place to stay, definitely. One has everything one needs and more. Ipoh is also in the middle of Penang (1.5 hours by car) and Kuala Lumpur (2 hours by car) too. It has a small airport too. During holidays, you would be looking at traffic jams yeah. Ipoh is really that popular as well. So, Ipoh is a nice place. Oh yeah, Ipoh as a property market? If we do understand that Malaysia is becoming an ageing nation, then we should realise again, Ipoh is in the middle of both Penang and Kuala Lumpur yeah. It’s also connected to both via the ETS too.

Happy dropping by for great food as well beyond just to view properties.

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Ipoh Property updates: Upper East Condo, Times Square

A personal friend went to the launching of a new condo project in Ipoh recently. Upper East by Andaman. The location is considered a prime one and the developer, not a small one even if not the top 5. For prices, do register and take a look. In terms of the concept, I think if it’s really built as per what the picture shows, hey, this is indeed a nice one. My friend asked if I am buying one. I said, if only I have unlimited resources, why not. I do not, thus I have to skip this one for a more objective one, another rental property in KL instead. She said the location is very good but perhaps the marketing side has been understated. I told her that I agreed because until the day she told me, I have not come across this at all. Perhaps the developer can do slightly more marketing online, this will expand its potential market far wider than just Ipohans who are always wary of condos and favour landed properties instead.

Second news, a local developer, Team Keris launched Times Square Ipoh. As per reported, it is an integrated project comprising commercial, educational and retail outlets, and small offices, versatile offices (Sovo) units. The total GDV is RM1.2 billion. There are also 246 SOVO suites consisting of either a two or three room units priced from RM468,000 to RM700,000. This project is expected to be ready in 3 years and is a 16-storey building. Of course, this will be complemented by all the other elements of commercial, educational and retail too. The Times Square Ipoh is situated at the confluence of two roads, Jalan Raja Dr. Nazrin Shah and Jalan Raja Dihilir. Personally, I have not seen a Times Square which meets my tough requirements, both in Penang and KL. While these Times Squares are far from empty but I feel that if you call yourself Times Square, the direction of the mall must be clear and the tenant mix of a certain standard and must not attract just a certain segment of the market. Please visit Times Square of Penang and Times Square of KL and tell me what you think. 🙂   I still hope for the best for Times Square Ipoh because this is my hometown!

written on 13 Aug 2014

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Ipoh Retirement, doing nothing?

Stop the jokes. If retiring means doing nothing, then it’s no longer retiring. That’s more like suffering. I can take it when people say Ipoh’s food not as famous as some other so called ‘famous’ cities. Sure, go ahead. I can also force myself to accept it if someone were to say Penang’s food variety is more. I don’t think so but it’s ok, I will not comment. However, to anyone who say Ipoh city is only for retirement because there is nothing to do, you must be joking. Have you ever been to Ipoh, stayed for a while and really know enough to comment? I have stayed in Teluk Intan for ten years, Penang for 16 years, Subang Jaya for 3 years, Bristol for 1 year, Kelana Jaya for 1 year plus and currently Damansara Damai for 1 year. Have also travelled to all the 14 states in Malaysia and still travel to all these states because they have something special. Have also travelled to slightly over 20 countries in the world. I think I am slightly more qualified to speak compared to many who have been staying in the same place all their lives. Born there, studied there, work there and most likely ‘bye-bye’ there. Great mentality? You decide.

If you would like recreational places, within Ipoh city itself, there are parks, lakes, international sized public swimming pools, lots of squash courts, badminton courts and even velodrome and hockey turf if you are really crazy with competitive cycling or playing world class hockey. Many more. Note, I did not say any other city have none of these. I am telling you, Ipoh has it too, in case your city has it.

Ipoh has real variety and quality good food. It is seldom that you find that same few types of food in majority of all the kopitiams all over Ipoh city. In terms of Malaysian class, in other words, as good as the best in Malaysia, there are taugeh chicken, dry curry mee, curry mee, yong tau foo (equal rank for this), Ba Kut Teh (yes, very good ones), Tai Lok Mee, Chee Cheong Fun, Dim Sum, Wan Tan Mee, Hakka Mee, Indian Curry Rice, Mee Goreng Mamak and so many more and you know what, there are friends who said Ipoh has only tau geh chicken and dim sum and expect me to agree with her.

Ipoh has good properties. From bungalows to semi-detached to terrace to link homes, condos and even luxury condo on par with the best in Malaysia, Ipoh has them. I am very sure some of the other cities would have these to but just wanted to let you know that Ipoh has them too. One more tiny thing, the prices are much more reasonable too, currently as we speak.

I did not yet mention the current theme park, the upcoming theme park, the many good private hospitals, the few good private and local universities, the few top schools in Malaysia, whoa, so many. Plus, the potential of excursions to many other smaller and awesome towns nearby, the sand and the beaches.

Enough. If you can read until here and you still disagree, I think it’s best you go where your heart is. As long as you are happy, I am happy for you too. At least you would not feel so boring in Ipoh and I do not need to feel so tensed up trying to convince you. Haha. Yes, it’s true I am NOT working in Ipoh. It’s also TRUE that I will definitely feel fulfilling and happy when I go home to Ipoh, one day. Home is where the heart is? Home Sweet Home, my Ipoh.

written on 12 Jan 2015

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