Movement Restriction and Unpaid / Annual Leave. What’s your right as an employee.

The below is a good reference for all the employees in Malaysia who are currently working from home or staying at home doing nothing but were asked to take annual leave? It’s a Legal Quickie from ANTON & CHEN Advocates and Solicitors.
 (Do visit their FB page here for many more Legal Quickies yeah. Written in easy to understand language for everyone)

— start of article —

Legal Quickie 19: UNPAID LEAVE DURING RESTRICTED MOVEMENT – YAY OR NAY.

Just yesterday, our Prime Minister Tan Sri Muhyiddin Yassin announced the imposition of a nationwide Restriction of Movement Order (RMO) which will take effect from 18th March to 31 March 2020 given the rising number of COVID-19 cases in Malaysia.

As a result, most companies and businesses would likely be financially crippled during this period given that the government has only allowed for “essential services” such as banks, water, electricity etc.  to continue running.

Inevitably, the companies that you are employed with may ask for you either work from home or go on unpaid leave during this period.  In general, companies cannot force their employees to take unpaid leave.

To that end, employers must always come to a mutual arrangement with their employees in the event that they require their employees to take unpaid leave notwithstanding the imposition of RMO by the government.

If we were to strictly follow the letter of the law, employers are required to pay their employees’ wages during this period unless the terms of the employment contract cover situations where employers can impose a lay-off period without pay.

An example of such a clause would be as follows: –
The Company reserves the right to lay you off or put you on short time working where the needs of the Company’s business make this necessary, for example because there is a temporary cessation of or reduction in work or a temporary closure of the workplace. You will be notified of the lay-off or short time working, the date when it will start and how long it is anticipated to last for. The position will then be kept under regular review by the Company.In the event that you are laid off or put on short time working, your entitlement to pay on workless days in that period of lay-off or short time working will cease.

Similarly, employers cannot force employees to take annual leave. Take the case of of Kesatuan Pekerja-Pekerja Continental Tyre Pj Malaysia Sdn Bhd v Continental Tyre Pj Malaysia [2015] 3 ILR 462 where the Company compelled their employees to utilise their respective annual leave during a plant shutdown. The Industrial Court held that the Company had the right to shut down the plant but did not have the right to force their workers to take annual leave during those days.

In Goodyear (M) Bhd v. National Union of Employees in Companies Manufacturing Rubber Products [1982] 2 ILR 105, The Industrial Court held that the employer did not have to pay any
compensation
 to employees who had been directed to take their annual leave during the cut-down in production but directed the employer to pay
wages
to the employees who had been instructed to take unpaid leave. It was further held to be fair and reasonable for the employer in that instance to pay employees half of their basic wages for each day the employee was laid off.

In conclusion, employers are urged to take cognizance of their respective legal obligations during this period and thread carefully each time they impose cost-cutting measures.  On the other hand, employees who have been forced to take unpaid leave during this period may wish make a complaint to the nearest Department of Labour.

Messrs Anton & Chen urges everyone out there to not panic as panic is useless in times like this. Keep vigilant, stay sanitized and stay indoors.

Chen Yu Szen
(Visit ANTON & CHEN FB page here)

— end of article —

Please LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market. Else,
follow me on Twitter here.

Next suggested article:
Only essential premises remain open from 18th to 31st March 2020

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Moving around, so better not buy?

Someone asked if buying a property is a must. Seriously, it is NOT. If one has barely enough for monthly expenses, why ‘waste’ it on mortgage payments? If we are moving from a smaller town to KL for work and intends to stay just 2-3 years, should we buy a property? In a Facebook posting, someone said that if one is only going to be based at a new place for a few years, it’s best not to buy a property. Renting is a better option. This is so that if one is moving to another place for another job, then he does not need to worry about selling his property which will take a very long time and very troublesome. I disagree. If we are talking about short-term as in 12-18 months, perhaps the argument may carry some weight.

Property investment is not about buying because you need a place to stay and selling it when we relocate. When we relocate, we could choose to sell or we could choose to rent it out. Both of these could be done easily with
good Real Estate Negotiators (REN).
 What will happen is that we could rent it out fully furnished too since it was already furnished by us when we stayed there for the past 12 months. By the way, renting out fully furnished meant a higher premium too compared to a totally empty unit. The target market is totally different yeah. One needs comfort. (air-con, water heater and even refrigerator) Another could just sleep with a thin mattress on the floor. Guess which will be more willing to pay a premium.

By the way, it is not usual for rental to cover mortgage these days. The reason is because rental could only increase ONCE on a yearly basis usually while property transactions could happen anytime and property price may be rising with every transaction. That’s why after a couple transactions which are extra RM50,000 the valuation of similar properties will also inch upwards. Banks are also willing to lend at the new price. This is why mortgage payments usually goes up faster than rental.  As for high rental returns, guess what happened to the price? Yeah, you guessed it right, it did not change much or may even be reducing due to pressure from many sellers in the market at the same time. is the market best for rental today? Yes. Will it be best for rental forever? Well, it really depends but I will answer as NO. Happy following. (Decision is yours by the way, rent if you prefers to)

Please LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market. Else,
follow me on Twitter here.

written on 13 Feb 2019

Next suggested article:
6 things about the future homeless generation

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


At what age should you move out?

When you reached your university age, were you eager to move out? To have your own secondary home even if it is just a rented room? To be able to have total freedom and no one to watch over you? Well, truth is, I did not have such desire but I could see among my friends, many were eager for such a new environment. As soon as you started working, would you still be staying with your parents or move out? Well, some say the property nowadays are way too expensive and therefore, it may be better to stay with our parents instead.

In a survey in Slovakia, the main reason is due to the expensive city centre. In fact, 74 per cent of adults 18-34 years old still live with their parents. This is as per European Commission statistics. if you think perhaps this is because they are still young, well, among those 25-34, there are still 57 percent staying with their ‘Hotel Mama’. This is considered very high when compared to a US Census study which showed that 15 percent of those aged 25 – 34 were staying with their parents. In Britain, a similar number were revealed by the Office of National Statistics.

Seriously, is this only because of financial concerns? Well, it does seem that unemployment might have been a major cause. Of course there are also other reasons and one of them is that it’s an acceptable thing to do. Another reason is because it is hard to find a home for rent. In Slovakia, there are less than 6 percent of all housing that is for rental. Thus, it meant that you either be able to afford one or you stay where you have been staying.

You may have read some Facebook comments or even articles saying that properties are becoming so expensive in Malaysia that the next generation are all going to have to rent. If this is true, then I think the income disparity is going to be even wider because the richer ones would buy more so that they can rent out. These owners would forever be richer and those who rent from them may have to rent forever. What about the stigma of staying with your parents when you are much older? I think in Malaysia, this is still a concern. Some friends are bound to look at you differently if you are already over 30 and still staying with your parents instead of renting or owning your own place. Yes, I do feel lucky that if I wish to retire in Ipoh in future, my parents would welcome me. As for how my friends would look at me, who cares. haha. Happy buying or renting if you seriously believe the properties nowadays are too expensive.

written on 23 Apr 2015

Next suggested article:
Why Malaysia need 8 Million homes based on current population?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Lower gearing for MRCB after Kia Peng land sale, two more to go?

Source:
https://klse.i3investor.com/servlets/ptg/1651.jsp

This is a developer listed in BURSA with a market capitalisation of over RM4 billion. It is the Project Delivery Partner (PDP) for Kwasa Damansara. Reported in many media recently. Malaysian Resources Corporation Bhd (MRCB) is selling a piece of prime lan along Jalan Kia Peng here to the Social Security Organisation (Socso) for RM323mil. The current book net book value was RM269mil based on the audited accounts for the financial year ended Dec 31, 2016. Thus, if the transaction goes through MRCB will be recording a profit of RM56mil.
TheStar’s report here.
 MRCB said the proceeds from the sale would be used for the group’s  working capital (including defraying expenses in connection with the proposed disposal) and property development activities within 12 months from receiving the purchase price. MRCB has many other bigger property development projects such as Bukit Jalil, Cyberjaya, PJ Sentral and Kwasa Sentral. Do refer to the image for the target prices from many analysts. Yes, there are still upside potential based on its latest closing price versus the targeted share price.

In another report in EdgeProp.my
, it’s chief corporate officer Amarjit Chhina said, “We don’t want our net gearing to balloon when we fund these large developments, as [it has] in the past.”  There are also two other assets that it may also be disposing off. They are the Ascott Sentral in Kuala Lumpur and Menara Celcom.  Ascott Sentral is valued at between RM150 million and RM180 million and comprise of 157 fully furnished serviced apartments at the KL Sentral transport hub. Amarjit shared however that there are no buyers at the price that it has internally set. He said, “We are getting close, but in no rush to sell.” Menara Celcom is an officer tower in PJ Sentral with a net floor area of 450,000 sq ft. This building may be injected into the MRCB-Quill Real Estate Investment Trust or sold to institutional investors says Amarjit.
Another report in TheEdge Markets here.

Developers with a lower net gearing would have more flexibility in raising funds when needed. In a slower market, it would be dangerous to have high net gearing. By the way, having huge cash reserves do not mean the developer will not borrow funds when it needs to develop projects yeah. Many times, the cost of borrowing is still cheaper than to use internal funds and losing the ability to acquire some potential land parcels for example. Personally, I think 50 percent as a net gearing is a good number to have. My wish is to see more actions with Kwasa Damansara because it has been rather quiet of late. Perhaps the current property market situation is a main cause for things to move slower. I do not own any MRCB shares currently because it’s gearing ratio was too high for my personal liking. Moving forward, we shall see. Happy following.

written on 23 March 2018

Next suggested article:
Learnings after over 10 different condo viewings

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 by Chinese / Japanese consortium (build and finance), probably.

This is quite a big news. It seems that MRT Line 3 will now be built via the build and finance way instead of the Project Delivery Partner way as per MRT SBK (Line 1) or MRT SSP (Sungai Buloh – Serdang – Putrajaya).
Here’s that news in TheStar.
This decision has rattled the share price of Gamuda. The share price dropped 26 cents today (5.13%), to RM4.81. At one point, it was as low as RM4.73 per share. The reason for this is because the build and finance way meant that the builder is also the financier and this entails having at least 90 percent of the expected cost. This is RM35-40 billion. This is a sum that Gamuda would not be able to fork out and this was the reason why only the Chinese or the Japanese builders could do it. They have the support from their governments.

Remember the Penang Bridge 2? It was built by the China Harbour Engineering Co Ltd (CHEC) with a super huge loan from the Chinese government. The consolation point is that the tunnelling portion would most probably be awarded to Gamuda. (I seriously think it should lah. If a local company is competent and competitive enough, we should think local first.)  As per the article, AmInvest Research said, “We take comfort that Gamuda’s roles in MRT3 are potentially only reduced, but not eliminated following the latest development.” It has valued Gamuda’s construction business at 16 CY18 net profit and says that it is in line with AMInvest’s benchmark one-year forward price-to-earnings of 14-16 times for large-cap construction stocks.
The full article in TheStar here.

There is a relevant article prior to the Gamuda share price article.
This one is in TheEdgeMarkets and it tells
 of Mass Rapid Transit Corp Sdn Bhd (MRT Corp) which has invited local construction and infrastructure development firms to participate in the tender process to build, on a turnkey basis, and provide financing for the upcoming third mass rapid transit (MRT3) line. According to an earlier report, CIMB Investment Bank Bhd had estimated the construction cost of MRT3 to range between RM35 billion and RM40 billion. Their estimation was based on assumption of a cost of RM1 billion per km for the underground portion benchmarked against MRT 2 as well as RM500 million per km for the above-ground portion. In the recent Budget 2018 speech, Prime Minister Datuk Seri Najib Razak said the government will expedite the construction of MRT3 or Circle Line and expects it to be completed two years earlier than estimated; from 2027 to 2025.

Build and finance is a model which is becoming common, especially for mega projects where the construction companies have the support of their government. The reason is simple, they (these companies) may not have too many domestic opportunities or it has capacity to take up more jobs. These companies are building everywhere in the world. Welcome them loh. Cheers.

written on 7 Nov 2017

Next suggested article:
MRT or not, still need to know what we buy

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 Circle Line. Let’s look at the proposed MRT 3 Circle Line alignment.

When it comes to property related maps, there’s only one source I would go to.
It’s Ho Chin Soon Research
The founder is Mr. Ho Chin Soon and the CEO today is Mr. Ishmael Ho. I used to play singles with both of them andOccasionally, I play badminton with both of them and latest ranking is that I am ranked above both of them. Singles in badminton yeah, not play doubles. 😛

Mr. Ho Chin Soon sent me one latest information about MRT Line 3 a.k.a Circle Line which is very important for everyone because the line has seen some alignments!

As for all the stations within the MRT 3, they are as follows:

#1 – Bukit Kiara Station

#2 – INTAN Station

#3 – Sri Hartamas Station

#4 – Mont Kiara Station

#5 – Jalan Duta Station

#6 – Matrade Station

#7 – Jalan Kuching Station

#8 – Sentul West Station

#9 – Sentul East Station

#10 – Ayer Panas Station

#11 – Jalan Semarak Station

#12 – Setiawangsa Station

#13 – Ampang Point Station

#14 – Desa Pandan Station

#15 – Pandan Indah Station

#16 – Taman Perdana Station

#17 – Pandan Perdana Station

#18 – Taman Midah Station

#19 – HUKM Station

#20 – Salak Selatan Station

#21 – Bandar Malaysia Station

#22 – Kuchai Lama Station

#23 – Old Klang Road Station

#24 – Pantai Dalam Station

#25 – Universiti Station

#26 – PPUM Station

Highlighted in red colour would be the changes. For example, the Kerinchi and MidValley station is no longer happening. So, it’s good to take note of these changes yeah. Every time Mr. Ho sends me any update, I will also be updating it here in kopiandproperty.com too.

Why is MRT 3 Circle Line needed?

MRT Line 3 or Circle Line is to complete the MRT Sungai Buloh Line and MRT Putrajaya Line. It’s called close the loop. Briefly, it meant allowing people to travel much more conveniently without the need to travel to one end and then only to travel back because the lines were somehow not connected with a loop line which is the Circle Line. This was the earlier article for reference too:
You complete me. Sungai Buloh and Putrajaya Lines tell Circle Line

Happy following.

Love news like this and more?
Sign up for daily investment news updates.
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:
7 reasons why secondary property is worth a serious look

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 Circle Line to start in phases starting 2028

I will keep updating on MRT yeah. I look forward to this coming to reality. Not because I have a lot of TOD properties lah. More for the continuous improvement of the public transport which will be a catalyst to many things. I also read that when MRT 3 Circle Line is ready, anyone driving to Kuala Lumpur city centre will have to pay more. It’s not just the parking which will be more expensive yeah.

Anyway, parking surely will be expensive because the car park returns must match that of property developments, else the owner will develop it instead of continuing to operate it as car park space yeah. It’s just about returns. When will MRT 3 Circle Line be ready? Actually, pretty acceptable date yeah. It will start in phases starting end 2028.

Article in nst.com.my
   Mass Rapid Transit 3 (MRT) Circle Line is expected to cost an estimated RM31 billion in construction and another RM8.4 billion in land acquisitions. Transport Minister Datuk Seri Dr Wee Ka Siong said the tender awards for the project will start from May 2022.

He said, “The packages are two turnkey contractors for elevated works, one turnkey contractor for underground works, one package for integrated rail systems and one project management consultant to work alongside MRT Corp as the project developer.”

“The procurement of these tenders will be through an open-tender process, which will begin this coming May, while the construction work tender is expected to be awarded in the fourth quarter of the year.

Wee said the MRT3 Circle Line developer was also planning to implement a common payment system to offer seamless travel for public transport commuters. Please do read here for full details:
Article in nst.com.my

No matter who’s “in-charge” please continue this yeah

Enough of dilly-dally or further delays lah.  MRT 3 Circle Line completes the MRT and LRT lines yeah. This is already acknowledged and written many times. So, accept it lah. The only issue is just the financing part. Just have to wait for more details. I am not a supporter of turnkey and I prefer the mode of project delivery partner and not turnkey. Then again, I am just a blogger. So, just have to accept whatever decision made. Happy deciding and hope everything will go according to plan or even earlier.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Bankruptcy in Malaysia during the MCO period. High or low?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT3 Circle Line – Build the demand or let demand build the need?

Ever wondered what would have happened if we were to build all those nice high-rise units around KLCC FIRST and then only we build KLCC?  Ever wondered what would have happened if we listened to some argument years before KLIA was completed that Subang Airport was all we needed? Ever wondered what would have happened if our PLUS expressway was not built yet until we are certain that the number of cars in Malaysia has reached a certain threshold?

Looking a little further. Ever wondered what would have happened if Singapore waited until its population grew to a certain threshold before they started reclamation projects? Ever wondered what would have happened to London if Heathrow Airport in London was built ONLY after London’s population has risen a lot and they have ascertained that there are indeed the demand for that airport?  All these would be disastrous for the city planner and indeed, damaging to the economy and even inflating the cost of development too.

This was the reason Petronas Twin Tower is the catalyst for all the developments after it was built. PLUS was the catalyst for all the connection and economic integration between different states. This was also the reason why Singapore is still able to build affordable HDB flats for its people versus having to suddenly needing to look for land when it’s too late. This was also the reason why Heathrow Airport is one of the catalyst to all the economic activities from within UK and outside UK as well.

Yes, MRT3 Circle Line is needed and demand needs to be built, not the other way round

In an article slightly earlier in
themalaysianreserve.com
, this was what some experts said. Chartered Institute of Logistics and Transport international president Datuk Ts Abd Radzak Abd Malek said modern infrastructure facilities such as MRT3 could be constructed ahead of the ridership demand before it becomes too late and the cost would be a lot higher at the time.  Economically, he said MRT3 would encourage new transit-oriented or transit-assisted developments that will attract new investments along the alignment seen in the case of MRT1.

CGS-CIMB Securities Sdn Bhd analyst Sharizan Rosely said in a report that the overall cost of the MRT3 project could be reduced substantially by 30% to 40% of the total original cost of RM45 billion, mainly attributed to the reduction of certain underground scopes. Thus this could bring the total estimated revised cost to between RM27 billion and RM32 billion. Please feel free to read the article in full here:
themalaysianreserve.com

Drive or public transport?

Frankly, if given a choice, I would drive because it gives me the convenience. I could start my journey anytime, I could drop by many places before my final destination versus being confined only the stations long the line. However, I do realise that if I drive, the cost of owning the car would set me back hundreds, followed by petrol another few hundred and then there’s the toll as well as parking which will be another few hundred every month. This is one determining factor and this is also one reason why demand for public transport will increase in the future.

Petrol Prices will continue to be very volatile. It may not be today but if there are some unforeseen circumstances, then it would suddenly go up and if we take out the subsidy totally, many would have to spend even higher. Let’s not forget the tolls which will also be increasing and definitely not reducing every year.

Last but not least, when the price of land keep increasing, the opportunity cost of NOT converting the car parking space into a new development is super high. The land owner will prefer to convert versus earning parking fees slowly… This is why if they did not convert, they would raise the parking fees. When we travel, do look at the parking cost per hour in Melbourne, Tokyo, Hong Kong and even Singapore for an idea how high could parking fees go to.

Public transport would become a choice for many when all the costs become unbearable

Please do not tell me that Singaporeans love the MRT because they love the MRT or that the MRT stations are all right next to their HDB flats. I have been to Singapore at least 30 times in the past 23 years. Most of the time, wherever you stay, you will still need to walk a certain distance to the nearest MRT station and for some areas, the bus stop which will then bring you to the MRT station.

As for the car prices, please do go and check it out yeah. While SGD is 3x more than RM, it’s also true that owning a car can only be afforded by few people. Sometimes, just paying for the Certificate of Entitlement alone would have cost the buyer many international vacations. This is why  most Singaporeans take the MRT. Imagine if our Honda City which is RM80,000 here is priced at SGD26,000 there and they have a 5-year loan which meant the monthly instalment is just SGD400 or lower? Everyone would buy a car… Simple fact. We have not yet started on the car park fees in the CBD within Singapore as well as the “toll” for passing along certain streets too.

I would love to take the MRT3 Circle Line in the future

I will still be taking the MRT on an occasional basis. Will not stop driving at the moment. However, I am supportive of MRT3 Circle Line. Let’s take the MRT3 Circle Line when it’s available yeah. Please stop pushing this back again even if the government of the day changes. There are things which should continue. There are no politics needed. At the same time, please start thinking about the GST too. When they are needed, they are needed.  Cheers.

Love news like this and more?
Sign up for daily investment news updates.
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article:
RTS Link and latest RM1 billion worth of awards

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 aka Circle line has been approved

MRT 3 aka Circle line has been approved

I am a supporter of the MRT 3 aka Circle Line. Please feel free to say anything you like to say yeah and take the right actions. Based on the MRT Lines overall plan, this Circle Line will complete the overall Klang Valley transportation. Without this, then there are MANY inconveniences which people can use and say they don’t want to use the public transport. So, for the ones who support the line like me, it’s now announced that the suspension of MRT 3 is now lifted.  Do read about the latest announcement here.

Article in nst.com.my
   Prime Minister Datuk Seri Ismail Sabri Yaakob said, “The government has decided to approved the implementation of the MRT3 project to complete the existing public transportation infrastructures in the Klang Valley by providing integrated transportation system that is affordable for the people.”

He said, “The implementation of this project will drive the country’s economic growth and development, in line with the objective of the government to empower the business sector as well as creating 600,000 jobs this year.”

Preliminary plan for the MRT3 will include 30 stations, where 10 of them are MRT interchange stations, light rail transit (LRT) and KTM Komuter lines. Please do read the news article in full here:
Article in nst.com.my

Construction has yet to start, it’s a fact

To be very direct, this MRT 3 aka Circle Line has been approved by the current government and announced by the current Prime Minister Datuk Seri Ismail Sabri. As can be seen over the past few years, things can change unless of course the construction is already halfway for example. Approved routes can also be changed and then changed back for example. Approved stations can be changed for example. Approved projects can also be suspended.

For now, I think the real estate industry will welcome this project because the construction of the project will bring a lot of opportunities. As usual, the economic multiplier will be many times especially if the project is being constructed by a Malaysian company. Yea, probably some foreign labour may be needed but it’s a very small issue versus the benefits to be gained.

Please do not simply buy any property which says it’s nearby any MRT 3 station yeah. The price per sq ft should make sense yeah. If we pay crazy price, then we have to find someone willing to pay crazier price to buy in the future.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Gamuda JV will design and construct MRT station in Singapore

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 Circle Line and what the experts say

I have written many articles on the MRTs of Malaysia. From the MRT Kajang Line (formerly known as the SBK line) to the current-nearly-open MRT Putrajaya Line aka MRT 2 and every time I write about MRT 3 Circle Line, the clicks show that people are interested with it too. Now, let’s summarise what the experts are saying about the MRT 3 Circle Line.

Article in nst.com.my
   Economist Professor Dr Yeah Kim Leng of the Sunway University said, “The greater use of public transport is in line with the development of a low-carbon economy, as well as a cleaner environment with reduced air pollution problems.”

He also said, “An efficient public transport system will generate savings in transport cost for the general public, especially the low-income group.”

MRT3 implementation is positive for the overall economy and the construction sector too.

Transport expert Goh Bok Yen said, “Without any doubt, MRT3 has an obvious role and objective to play in Greater Kuala Lumpur’s public transport system. Besides completing the MRT system in a circle line, the new network will enable the rail system to function at its optimum level as planned.”

However, he has this to say about the current tentative alignment. “After browsing through the tentative alignment, I am particularly worried about the visual, social, economic and environmental impacts of the elevated track along the Bangsar South, Damansara and Mont Kiara area. Instead, MRT3 should complement the area rather than kill it.”

Universiti Putra Malaysia Road Safety Research Centre head Associate Professor Dr Law Teik Hua said just like other major cities in the world, Kuala Lumpur also needed a Circle Line. he said, “I believe that upon completion, it will attract more people to use the public rail network.” He added, “One of the reasons could be the lack of access to public transport. The Circle Line will be helpful not only to attract locals to use it and increase the ridership rate but also to facilitate tourists.”  Please do read the full article here:
Article in nst.com.my

Property investment based on the MRT 3 Circle Line stations?

I think many buyers may be putting their final decision based on the final alignment of the MRT 3 Circle line. At the moment, I have not seen the official one. If we like one speculative one published in thestar.com.my, then it’s here:
MRT 3 Circle Line. Where are all the stations really?

If we read all the comments from the experts above, what they have shared are the benefits from the MRT 3. These benefits will surely help more people move to places closer to the stations. However, it does not change the household income of Malaysians. In other words, if the price is too expensive for people to buy, it is still going to be too expensive for people to buy.

Regardless of how close the units are to the MRT station it will be too expensive if the price we paid is already very high. If we remember this fact, then our decision should be a safer one. Happy deciding.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
MRT Putrajaya Line not ready eventhough it’s Phase one is ready. Huh?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


The stations for MRT 3 Circle Line and other details

Source of the MRT 3 Circle Line stations:
Article in soyacincau.com
  The article does say a lot more about who shelved the MRT 3 Circle Line and who restarted it and more details. So, if you like all the details, please do read the
Article in soyacincau.com

Overview of MRT 3 Circle Line

This line is a loop around the Klang Valley. MRT 3 is 50.8km long consisting of 40.1km of elevated track and 10.7km will be underground. There will be a total of 31 stations and this includes 10 interchange stations too. These interchange stations are the key reasons for the Circle Line. Let’s take a closer look at how that loop will be looping around the existing stations. Yea, it does look like a circle. 😛

Image Source: soyacincau.com

List of all the MRT 3 Circle Line stations

Bukit Kiara South (Interchange with new station on Kajang Line)
Bukit Kiara (Provisional)
Sri Hartamas
Mont Kiara
Bukit Segambut
Taman Sri Sinar
Dutamas
Jalan Kuching (Interchange with Port Klang Line)
Titiwangsa (Interchange with Ampang & Sri Petaling Line, KL Monorail and Putrajaya Line)
Kampung Puah
Jalan Langkawi
Danau Kota
Setapak
Rejang
Setiawanga (Interchange with Kelana Line)
AU2
Taman Hillview
Tasik Ampang
Kampung Pandan
Pandan Indah (Interchange with Ampang Line)
Taman Kencana
Taman Cheras
Taman Midah (Interchange with Kajang Line)
Jalan Yaacob Latif
Sri Permaisuri
Salak Selatan (Interchange with Sri Petaling Line)
Salak Jaya (Provisional)
Kuchai (Interchange with Putrajaya Line)
Jalan Klang Lama
Pantai Dalam (Interchange with Port Klang Line)
Pantai Permai
Universiti (Interchange with Kelana Jaya Line)
UM

Below are another 8 things about the MRT 3 Circle Line

#1 – Softer approach to get more to use public transport

Once this MRT 3 is completed, it will complete the KL urban rail network. (expected to encourage public transport usage). No more excuses that it takes too long to connect to some stations because of unavailability of a circle loop.

#2 – Harder approach to get more to use public transport

Further measures to reduce congestion and pollution such as vehicle and environmental fees may be introduced after this MRT 3 is completed. This includes HIGHER parking fees for example. (These days, it’s probably RM3 per hour, how high can this number go I wonder)

#3 – MRT 3 will be fully operational in 2030 and the first phase to start operations in
2028. (Read here for details)
 Similar to
MRT Putrajaya Line lah. Read here for the details.

#4 Of the 31 stations, 24 are elevated and 7 are underground ones. There will be park and ride facilities at 15 stations. (means half of the stations have parking facilities)

#5 – Total cost is RM31 billion and this does not include another RM8 billion which is estimation for land acquisition. (wow… for the land owners)

#6 – Transport Minister Datuk Wee Ka Siong said, “The alignment will be connected to the existing rail network including the MRT1, MRT2, LRT (light-rail transit), monorail and KTM Komuter to form 10 new interchange stations for a more complete, integrated and efficient public transport system in the Klang Valley.”

#7 – Tender for MRT 3 will open in 2022 and will be done through 5 packages over a period of 6 to 8 years. It will be financed through hybrid funds like bonds, government guarantees and deferred payments.

#8 – Malaysia’s Ministry of Finance (MoF) will issue government-guaranteed Islamic bonds of up to RM50 billion in financing for the Mass Rapid Transit 3 (MRT3) Circle Line project. Extra RM11 billion is set aside for payment of interest on sukuk and other costs.

To read the articles for these additional info, they are as below:

Article in freemalaysiatoday.com

Article in theedgemarkets.com

Article in nst.com.my

Article in malaymail.com

Article in theedgemarkets.com

Happy learning and anticipating this final piece of the MRT plans for the Klang Valley.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Gamuda JV will design and construct Singapore’s new MRT Line; Defu station and tunnels

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 Circle Line: All the latest details

There are many articles on MRT 3 Circle Line and every article may be sharing a few information and thus we may need to read them all in order to get one holistic view. Since I have read many of them, if not all of them, let me just summarise all the details about our MRT 3 Circle Line yeah. Sources for the information is also listed at the end so that if you like to read everyone of them, you could do so too.

#1 – Softer approach to get more to use public transport

Once this MRT 3 is completed, it will complete the KL urban rail network. (expected to encourage public transport usage).

#2 – Harder approach to get more to use public transport

Further measures to reduce congestion and pollution such as vehicle and environmental fees may be introduced after this MRT 3 is completed. This includes HIGHER parking fees for example.  (These days, it’s probably RM3 per hour, how high can this number go I wonder)

#3 – Length of the alignment is 50.8km and it will be covering the perimeter of Kuala Lumpur

#4 – MRT 3 will be fully operational in 2030 and the first phase to start operations in
2028.  (Read here for details)
  Similar to
MRT Putrajaya Line lah. Read here for the details.

#5 – MRT 3 will consist of 40.1km of elevated tracks and 10.7km of underground tunnels with 31 stations, of which 10 will be interchange stations with existing rail lines in the Klang Valley.

#6 Of the 31 stations, 24 are elevated and 7 are underground ones. There will be park and ride facilities at 15 stations. (means half of the stations have parking facilities)

#7 – Total cost is RM31 billion and this does not include another RM8 billion which is estimation for land acquisition. (wow… for the land owners)

#8 – Proposed stations.

#9  – Transport Minister Datuk Wee Ka Siong said,  “The alignment will be connected to the existing rail network including the MRT1, MRT2, LRT (light-rail transit), monorail and KTM Komuter to form 10 new interchange stations for a more complete, integrated and efficient public transport system in the Klang Valley.”

#10 – Tender for MRT 3 will open in 2022 and will be done through 5 packages over a period of 6 to 8 years. It will be financed through hybrid funds like bonds, government guarantees and deferred payments.

#11 – Malaysia’s Ministry of Finance (MoF) will issue government-guaranteed Islamic bonds of up to RM50 billion in financing for the Mass Rapid Transit 3 (MRT3) Circle Line project. Extra RM11 billion is set aside for payment of interest on sukuk and other costs.

To read the articles, they are as below:

Article in freemalaysiatoday.com

Article in theedgemarkets.com

Article in nst.com.my

Article in malaymail.com

Article in theedgemarkets.com

Hopefully everything will be smooth or perhaps even better than what was planned? Just trying to be optimistic that the company building this would have the experience and will not have much delays due to unforeseen circumstances including major flood…

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
House prices? 3 important factors

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 Circle Line. Where are all the stations really?

We do know that it has received the go-ahead by the cabinet. Here’s the earlier article:
MRT 3 aka Circle line has been approved
  Remember to read the article in full to understand how I look at huge infrastructure project these days. Do not make any decision hastily unless it’s not just approved but also constructed halfway for example. By then, it’s not possible to change…

Anyway, it’s really not possible to find any official info on all the stations. All alignments are merely speculative unless confirmed yeah. Here’s one speculative one. Just need to remember that the official one needs to come from the MRT Corp yeah. The below one is from an article in The Star.
Here’s the source: MRT Tender to Go Out in August

As for all the stations within the MRT 3, they are as follows:

#1 – Bukit Kiara Station

#2 – INTAN Station

#3 – Sri Hartamas Station

#4 – Mont Kiara Station

#5 – Jalan Duta Station

#6 – Matrade Station

#7 – Jalan Kuching Station

#8 – Sentul West Station

#9 – Sentul East Station

#10 – Ayer Panas Station

#11 – Jalan Semarak Station

#12 – Setiawangsa Station

#13 – Ampang Point Station

#14 – Desa Pandan Station

#15 – Pandan Indah Station

#16 – Taman Perdana Station

#17 – Pandan Perdana Station

#18 – Taman Midah Station

#19 – HUKM Station

#20 – Salak Selatan Station

#21 – Bandar Malaysia Station

#22 – Kuchai Lama Station

#23 – Old Klang Road Station

#24 – Pantai Dalam Station

#25 – Universiti Station

#26 – UMMC Station

Yes, as soon as that official one is out, will publish here too

I do not own any properties along the MRT 3 Circle Line. Not so sure if I would be buying any but I am very sure many would start to tout their projects to be Transit-Oriented Development (TOD) as soon as it’s confirmed that their projects are within a short distance away from any stations along the way. In the mean time, make decisions based on the rental one can get and not some speculative price that the property could go up to. Property investment can be an investment for a long time or can be a risky gamble. Choice is ours to make. Cheers.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
MRT Putrajaya Line not ready eventhough it’s Phase one is ready. Huh?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT 3 deferred. Will affect connections to some hotspots a bit, perhaps.

We are now seeing many huge announcements on a daily basis. Most of it is related to mega infarstructure projects in Malaysia. It started with the scrapping of
HSR KL – SG. Reported here earlier.
 It’s not just the High Speed Rail KL – SG. The planned MRT Circle Line (MRT 3) has also been scrapped. Our Prime Minister Tun Dr Mahathir Mohamad has announced that the Government has decided to scrap the MRT 3 rail transit project for now. (At least he said it’s for now which meant that he is not saying that this is not necessary but more of ensuring the government’s finances are back on a stronger footing first. SST is said to be coming back in September 2018. Yes, the tax holiday is now confirmed. Everyone can buy, buy and buy without any tax for 3 months. An earlier article here:
Effects from a zero GST for typical Malaysian households
)

Dr.Mahathir said that Pakatan Harapan is reviewing all projects after taking over Putrajaya. The MRT 3 or MRT Circle Line was meant to be the 13th rail transit line and was initiated by the administration of former prime minister Datuk Seri Najib Razak. This will be a fully automated and driverless rail system and is supposed to form the loop line of the Greater KL/Klang Valley Integrated Transit System. Sort of making trips even shorter instead of taking trains to many stations just to change to another line for example. The supposedly completion time was 2025. The MRT Circle Line would have covered additional hotspots surrounding Bandar Malaysia, Ampang, KL Ecocity, Bukit Kiara and Sentul.
Here’s the report in TheStar on PM’s announcement.

I think it’s important that everyone understands that all these decisions are not light ones and the government has definitely had some numbers which we may not have access to before they decided. It’s best to wait till all the announcements have been done so that we have an overview of what’s really going to happen. Right now, there are also news that the ECRL’s announcement is next. Perhaps ECRL will continue because PH’s strategist, Liew Chin Tong actually proposed for some alignment changes instead of the current one. It will help to reduce the cost somewhat. Of course the next one is also the Rail Transit System for Iskandar? Not sure how all these would affect that because Singapore government has not been in the picture yet, formally. Happy following.

written on 30 May 2018

Next suggested article:

MRT Line 3 (Circle MRT Line) study submission by end 2016

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT accident today. One killed, one injured.

Today, another accident happened at the Mass Rapid Transit (MRT) project at the Semantan work site. The accident involved steel rod bars which fell on the workers as they were trying to make a circular frame. Somehow during the assembly, the tie gave way and five or six steel rods fell onto the workers. It fell from a height of five or six feet according to the Fire and Rescue Department assistant director (operations) Azizan Ismail. Each of the long steel rods weigh 40kg. The dead worker is Rijaul Abdul Goni, 40-year-old worker from Bangladesh. The injured worker, Shanuallah, 37, also a Bangladesh national has been sent to Hospital Kuala Lumpur. No further details were available as to the extent of the injury sustained. Another worker who was involved but did not sustain any injuries would be a wtiness during the course of investigation.

This is not the first accident. Three Bangladeshi construction workers were killed in Kota Damansara site last August when a 38m-long span weighing 650 tonnes fell after getting dislodged from a guideway. In June last year,  a driver had a lucky escape when a slab of metal fell from an MRT site in Pusat Bandar Damansara onto the main road. It crushed the passenger side of the car. The driver was unhurt.

Personally, I think MRT is too huge a project to stop. Yet, all these accidents does not give confidence to me because I pass these MRT sites everyday when I drive to work and back home. My colleague just told me few weeks ago that when she nears these sites, she tries her best to drive through as fast as possible. Nevertheless, if everyone expects zero accidents, it may be too far fetched as well because while processes can be well though out, mistakes would happen. This is especially true when workers somehow took some precautionary steps too lightly. Blaming the supervisors then? My friend who’s a site supervisor told me that it is not easy for a supervisor to be able to control everything that happens. Let’s hope these accidents no longer happen  and the workers really do take safety steps seriously. As for me, I will still try not to pass by these sites if I can. Safe drive.

written on 27 Feb 2015

Next suggested article:
Will MRT Malaysia really start on time? Sure?

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT and the Ampang Park shopping mall

I really am not sure if all the retail unit owners within the iconic Ampang Park shopping mall are happy with the latest announcement that the Ampang Park shopping mall will now have a new design option and thus no longer need to be demolished. This is as per announced by the Mass Rapid Transit Corporation Sdn Bhd (MRT Corp). Ampang Park was built in 1973. Many have written in to newspapers about the nostalgia of Ampang Park shopping mall. I have been there just once. Truthfully, I prefer a more modern shopping mall. That’s a personal preference.

This new design option will see the mall preserved with some modifications made to its foundation. In terms of distance, it will be very slightly longer walk but this allows the planned connections between the MRT and LRT stations to still happen. This is the latest plan after the meeting between MRT Corp, the Ampang Park Management Committee and strata unit owners last Saturday. Well, the first thing in the redesign is that Ampang Mall would not be demolished and will remain as it is. The new MRT station would be shifted slightly away from the location of Ampang Park while an underground pedestrian linkway between the future MRT station and the LRT station would be built beneath the shopping mall.

With this, the initial plan that required the tenants to cease operations would not happen. The new plan would only need several sections of Ampang Park’s underground carpark to be temporarily closed for up to 18 months while construction is done. Some of the affected businesses would be closed for the duration which will now be subjected to a mutual agreement and some adequate compensation. The duration of the mutual agreement has also been reduced from 84 months to just 36 months under the new redesign. This mutual agreement should be concluded and signed by Jan 31 if the final plan is not to demolish the mall.

I personally would have preferred for a new mall with every one of the current owners having the same sized unit as their current place and the potential for even more retail outlets since it is now going to be a MRT station. In other words, pedestrian traffic would be increasing tremendously. The younger generation would also prefer for a more modern mall and not the current one which may need extensive refurbishment for it to be on par to many of the newer malls today. Sometimes, development will take away some memories but truth is, every time there’s development, it will always take away some memories. I used to visit a shopping complex in Ipoh when I was young and it was one of my most favourite place. Today, it has shown lots of deterioration and even if the complex remains clean and open, it’s shops and the facilities just would not match the newer malls. Sorry to say that if this goes on, many of the retail shops may close in the future. I wish Ampang Park shopping mall all the best. Happy shopping!

written on 5 Nov 2015

Next suggested article:
MRT Line 2, something good to cheer about

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


iProperty.com, Malaysia’s No.1 Property Site has invited me to speak in their upcoming Home & Property Investment Fair in MyTOWN KL.  My topic:
Should MRT change your property investment journey?
 For this talk, I will share the 4Ps (People, Prices, Policies, Preference) on why MRT may affect your decision in getting that property for your own stay or investment. beyond just the 4Ps, we will also look at the overall property market as well as getting to know some latest happenings in property markets elsewhere. Remember, it is not always just Malaysia because if something big happens elsewhere, we would still be affected. See you all there.
Please do sign up in advance here.
 Alternatively, just
PM me in my Facebook page
 and I will get my staff to sign you up.

Detail for my talk as follows:

Venue: MyTOWN KL

Date: 3rd March 2018

Time: 245pm – 330pm.

For those who know me, come say hello yeah. For all the rest, we could have a kopi session after that. Glad to learn from everyone’s experience too. Happy investing and please get back to work already. CNY holidays are over even for me. I will start working tomorrow. (27th Feb 2018).

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Circle Line (Line 3)’s open tender in 2022

Why MRT Circle Line cannot happen so soon?

Okay, realistically the MRT Circle Line would only start construction after MRT Putrajaya Line (Line 2) has started and everything’s progressing smoothly. The reason is a simple one. MRT Circle Line is to complete the MRT Kajang Line and MRT Putrajaya Line. So, when is MRT Putrajaya Line going to be completed?
Well, there’s a slight delay in the opening for Phase 1. (Read the latest update here)

Now that we know this little fact, so what’s happening to the MRT Circle Line then? Positive news definitely. Below are some latest updates.

Article in themalaysianreserve.com
   Mass Rapid Transit Corp Sdn Bhd (MRT Corp) CEO Datuk Mohd Zarif Hashim said the group is finalising funding plans for the MRT Circle Line with the government. He shared that the scheme for MRT3 is not the same as MRT1 and MRT2, thus the structure will be different.

He said, “Give us more time to finalise the funding plan and we hope to come back to you in the early part of next year.”

The total length of the Circle Line would be 50km and it will have over 30 stations and 10 interchange stations inside the capital city. There will be 40% underground routes. (It’s in the city centre… surely there will be more underground routes yeah). Do read for more details in the article here:
Article in themalaysianreserve.com

Why do Circle Line complement all other lines?

Imagine we want to ask everyone to use the MRT fully as their main transportation mode. Now imagine trying to change stations. Currently, it’s going to be a long journey because there are not enough interchange stations. This is something which Circle Line will be changing. It will make changing lines / stations become more seamless and well, cut the time needed to change. Not everyone just one want to go from Point A to Point B yeah.

Will continue updating lah since this is still going to take quite a long time. Perhaps more photos of the Putrajaya Line once it opens would be the next article. Cheers.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Buy before price rises. We hear this all the time don’t we?

Header image source:
https://www.mymrt.com.my/public/putrajaya-line/stations/

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Yes, I think the MRT is good and many people will benefit

Have you taken the MRT yet? I know it’s not yet fully connected but it’s definitely a good experience. I recently shared with a few friends about my MRT experience. One ‘awesome’ friend said that it’s only okay now because there are very few passengers. When it’s really opened, it will no longer be smooth and it will most probably be late. I just smiled. Sometimes, the worst enemies of Malaysia are fellow Malaysians. The question is always should there be MRT or should there be no MRT? The only reason why more people would consider further and newer areas would be because of connectivity. Not everyone can keep paying more for properties. They need to buy further. Oh yeah, MRT Line 1 has already received over 1 million passengers within less than one month.
Read here.

Let me now share my personal experience riding the MRT and yes, I like it. I took it from Sungai Buloh MRT station, stopped at Pusat Bandar Damansara station and took the feeder bus to KL Sentral. From KL Sentral, I walked to the
BLT Property Outlook 2017

event. Later, as I needed to run some errands, I then walked to KL Sentral, took the feeder bus which arrived within 10 minutes to the Semantan MRT station. From Semantan MRT station, it brought me back to Sungai Buloh MRT station where I parked my car. Smooth experience all around. Though weather is a little hot. Within the MRT stations itself, it’s acceptable but can definitely be made even more cooler.

Once we enter the train, it’s comfortable. Strong air-con with vents throughout (please maintain this!) There are LED screens showing where we are, what’s the next station. Audible announcements on the next upcoming station. (Of course when there are lots of people maybe less audible). The train moves pretty fast but the journey is smooth and it’s quiet. Carrying a conversation was easy too. (Yes, there were just a few of us, haha). There are also a couple of F&B outlets and I saw the tiniest Watson’s too. Signs within the station is just sufficient but can do more. For example some direction indicators on the floor as well. Okay, enough about the good stuffs. What are some of the things I personally think it can improve more?

Signages to the MRT station is lacking lah. I was driving and there were not even directions outside the Sungai Buloh MRT stations that tells me how to turn, where to turn etc. The walkway from the carpark to the MRT is also not properly done. No proper signages within the car park too that tells me where should I go for the MRT station. I had to ask the stall owner for directions. The temperature within the station can still be lowered a bit more. I think on a very hot day, it would be extremely uncomfortable. More marketing and PR please. There are still many people who asked, ‘Huh? MRT started already? Where?’ Signages in KL Sentral on where the MRT feeder buses would stop is also lacking. I know where they stop because I took the feeder bus before. Else, from within KL Sentral itself, there are NO signages whatsoever. Tell more people on where they can take feeder buses. Parking the car to take the MRT is EXPENSIVE! More shops please. I know, the number of passengers are still low but it’s very important for people to have lots to see and perhaps buy / shop. Then passengers can be more occupied.

Fellow Malaysians. Do try it out. Provide constructive feedbacks and when majority of us think of public transport as something for the public and not just those without choices, then it will work better. Actually in some developed small countries, public transportation is the only thing the public can rely on. The car prices are prohibitive or the car park slots cost a few millions. Happy trying it for now.

written on 15 Jan 2017

Next suggested article:
The start of MRT and the rise property prices nearby

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Kuala Lumpur a City for All. DBKL and MRT Corp’s vision

Cities, especially the capital city will always become more expensive. Job creation, especially the higher paying roles are usually in the city centre and not so commonly available in some far away regions or small towns. Occasionally we may have a catalytic development in a small town but this is likely to be confined to that area and is unlikely to change the attractiveness of larger cities.

Kuala Lumpur is one such city. Whether it’s for the many tertiary institutions or the big number of foreign multinationals or even for headquarters of local companies, it is usually located in Kuala Lumpur and not in a small town, not even in an outskirt area outside of Kuala Lumpur. There’s now a plan to develop Kuala Lumpur into a “City for All:

Article in edgeprop.my
  The Kuala Lumpur City Hall (DBKL) and Mass Rapid Transit Corp Sdn Bhd (MRT Corp) on Tuesday signed a memorandum of understanding (MoU) to develop the federal capital into a “City for All” by providing efficient and people-friendly mobility.

Kuala Lumpur Mayor Datuk Seri Mahadi Che Ngah said DBKL will assist MRT Corp as the facilitator for, among others, the planning, issuing of applications, and approving of permits, and construction in making the MRT3 project implementation a success.

He said, “DBKL does not want any problem which could hamper the MRT3 construction and we hope that this project could be completed as scheduled.”  Please refer to the full article here:
Article in edgeprop.my

Whatever it’s called, let’s wish it success

It may not be possible to house everyone inside Kuala Lumpur. It may be too expensive to do so and it will also be too congested too. I guess that “City for All” concept would also be about lifestyle and the people and not just making everyone stay inside city centre. By the way, this concept may even mean that DBKL will prefer NOT to have more cars driving into the city centre yeah. They are working with MRT Corp, so definitely it is to ensure more people go to KL via the MRTs and not in their own cars. Cheers.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Property Investment? Some good advice for property buyers

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Attention. Changes to MRT Putrajaya Line. MRT Corp is seeking for public feedback.

You may be wondering which line is MRT Putrajaya Line. There’s the MRT SBK (Sungai Buloh- Kajang) line. There’s the SSP (Sungai Buloh – Serdang – Putrajaya) line. Which line is this MRT Putrajaya line? Well, the MRT SSP is now simply known as MRT Putrajaya line. I think the reason is because it ends in Putrajaya. Anyway, the SBK is known as the MRT Kajang Line, okay. Below is a media release about public inspection for MRT Putrajaya Line modifications.

MEDIA RELEASE: PUBLIC INSPECTION BEGINS FOR MRT PUTRAJAYA LINE MODIFICATIONS

Modifications were the result of the Government’s cost rationalisation exercise

Kuala Lumpur, 16 September 2020: Mass Rapid Transit Corporation Sdn Bhd (MRT Corp)
wishes to announce the start of the MRT Putrajaya Line (formerly known as MRT Sungai BulohSerdang-Putrajaya Line) public inspection for modifications to the line’s original railway
scheme. The public inspection will commence on 17 September 2020 and run for three months until 17 December 2020.

Members of the public can inspect site context plans and other documents which show the modifications to the original railway scheme of the line at the Land Public Transport Agency
(APAD) office at the Ground Floor of Menara Tun Ismail Mohamed Ali, Jalan Raja Laut, Kuala Lumpur. The documents will be displayed for inspection from 9.00am to 4.00pm from Monday to Friday except for public holidays.

The modifications to the railway scheme are the result of a cost rationalisation exercise by the
Government for mega infrastructure projects in 2018. Under the exercise, the MRT Putrajaya
Line construction cost was reduced by RM 8.82 billion from RM 39.35 billion to RM 30.53
billion.

The modifications to the original railway scheme are made possible by moving away from the
previous build-to-capacity approach to project construction to building according to demand
based on the revised ridership by the Land Public Transport Agency.

Among the modifications to be carried out are the deferred opening of Bandar Malaysia Utara
and Bandar Malaysia Selatan underground stations, deferment or revision of station entrances
and pedestrian bridges, deferment of multi-storey park and ride facilities which will be
replaced with at-grade park and ride facilities, and others. For more information, members of the public can contact MRT Corp via the MRT Hotline 1800- 82-6868 or email to feedback@mymrt.com.my.

— end of media release —

Love to be updated on all investment news? Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)
 Else,
follow me on Twitter here.

Next suggested article:
MRT Putrajaya Line starts in less than 15 months (phase 1)

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Effects of MRT on developments along the line

My inputs in TheStar was published recently. Here’s that article for your reading enjoyment. If you can’t read because it’s not clear enough, click here for the PDF yeah.
002_PULLOUT_SP03_NAT_17102017_DLY

I think it’s good that MRT is starting but beyond that,
we need to encourage even more people to start taking it.
 Cheers.

Next suggested article:
MRT or not, still need to know what we buy

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT is a great option BUT not for everything and every situation lah

Dear friends, I love the opening of MRT SBK. Seriously. I have been writing and trying to persuade everyone to give it a try. Save more money with it. Then invest those savings. However, please do not come and tell me that it is a ‘cure for all.’ Especially to the one who said that Malaysia’s MRT is not as good as Singapore’s. The person who is working in Singapore said proudly, “In Singapore, I can reach practically anywhere with public transport. In Malaysia, no way!”

There is nothing wrong with his statement, I have taken Singapore’s MRT and I rate them one of the best. I have also been on Japan’s bullet trains and buses, London’s underground tube, trains all over Europe, Korea’s MRT, Taiwan’s trains, Bangkok’s BTS and even Hong Kong’s MTR. In Malaysia, I have been on public busses, express buses, KTM trains, ETS, LRT, Monorail and even our latest MRT SBK. I hope I am quite qualified to respond? Haha.

I have a family and I want CONVENIENCE. Have you ever been to the shopping centre with a two kids and one wife? The kids need a stroller, a baby carrier and even a bag full of their stuffs, at least. The wife would most probably start with a handbag and end with 3 bags of shopping items or more if we are going to the supermarket. With my Exora, all these are easily handled and if needed, I can even carry my parents to the mall too.

With the MRT, it would be really inconvenienced. Oh yeah, everyone can also take a GRAB but even taking a GRAB means taking all those stuffs up and down the car which is still slightly less convenient compared to owning my own car. By the way, all my friends working in Singapore and has a family would share with me that they still prefer to have a car on weekends. My friends in Hong Kong, despite such well connections also own cars. They could use them during weekends for real conveniences.

I love to stay fit but I prefer to do it in the gym or
Mount Kinabalu.

Regardless of the country that I have been to, none has MRT stations right outside your home all the time. Most of the time, one would need to talk a bit. Sometimes, it’s 5 minutes walk, sometimes we need to take a bus to the station and occasionally, it RAINS or the SUN made the walk uncomfortable.

One colleague who takes the LRT and sweats easily like me is always wet when he arrives in the office. Imagine if we have to carry a lot of stuffs, that would make it even worse. I love to exercise everyday. I love to sweat every day too. However, there are many occasions that I would like to arrive at the function smelling fresh. Yeah yeah, take GRAB, right? Haha. The debate here is not between GRAB vs owning a car…

By the way, I still think owning a car has slight advantages compared to GRABbing all the time. My new office is just 5 minutes walk from the KLCC LRT station. Yes, I will take it a few times per month. Let me be more sure of my daily schedule first because I occasionally needs to meet customers. Happy taking the MRT yeah but to anyone from ‘better’ MRT countries, there is no need to compare because I prefers to own a car which I could still afford to buy with my salary.

written on 4 Aug 2017

Next suggested article:
When banks show better results, it’s a good sign

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Take MRT yeah. Save more than driving and parking.

MRT will change the area dynamics, that’s for sure. Here’s an earlier article on why it would.
MRT stations will change the area dynamics
 It will also cause property prices along the line, nearby the stations and newer launches to be more expensive. This is based on what has happened in the countries which has MRT lines earlier than us. That was also how some opportunistic businessmen who managed to buy lands along and around these lines become super-rich. Sorry, it did not include me. I do hope some of kopiandproperty.com readers did just that. Perhaps hold for a while and then sell to developers when the time comes? The full
MRT Line 1 – Sungai Buloh – Kajang
 will start on 17-7-2017. This is an auspicious date. That’s the date that someone in Sungai Buloh can take the MRT and go until Kajang without the need to be jammed. Yes, it is also the date when the MRT Line 1 is fully operational.

Currently, it is not which meant that those working in KL city centre but stays somewhere along the MRT Line could not use it yet. An estimated 500,000 passengers will take the trains daily. This is a healthy number. I hope that it would go higher in a few years’ time. Of course, the authorities would have to use both ‘sweetners’and ‘stick’ approach to push more people to use MRT. If I change job and does not need to visit customers anymore, I would also be one who would use public transport. Oh yeah, the news about the starting date? Read here  in
themalaymailonline.
It’s just one month away.

Based on my interactions with a few friends however, their perceptions remain the same. Those areas they like, they still like and those areas they feel it’s far away, they still feel it’s far away. This is the same even if those areas are long the line. Well,changes do not happen overnight. I think we need to give all these potential home buyers some time. Let it be a normal thing first. Perhaps the real estate negotiators can even meet them at MRT stations somewhere and take the train to the potential home. Happy taking the MRT yeah.

written on 9 June 2017

Nxt suggested article:
Yes, I think the MRT is good and many people will benefit

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 2 – 2022 deadline, tunnelling tender starts

By now, everyone would have read about the MRT Line (2). Proposed stations as follows:
MRT 1 completion and MRT 2 Stations, the proposed ones.

What is quite certain is that this project should be following the given timeline, just like MRT Line 1 which is as at today still slightly ahead of schedule. The tunnelling job is expected to cost RM10 billion and the pre-qualifying process for the international open tender will begin this week and awarded in Q1 2016.

MRT Line 2 is also known as the Sungai Buloh – Serdang – Putrajaya (SSP) line. The total length spans 52.2km and yes, there would be one station near where I am staying today; Damansara Damai. Well, truth is, there is no certainty that I would stay at the same place till 2022. What if I suddenly decide to move back to Ipoh to stay with my parents instead? MRT Corp Sdn Bhd chief executive officer Datuk Seri Shahril Mokhtar said that because of the longer evaluation process for the tunnelling job by international bidders, it will be the first package to be worked on.

Personally, I like whatever new transportation project. This is because it expands the whole property market instead of having everyone focussing on just that few hotspots all the time. It would also help to ensure congestion stays manageable. I say manageable because I think many would still choose to drive unless they face a heavy jam every single morning and evening. Or the cost to drive is made prohibitive especially when entering the city centre.  In Singapore, majority of everyone from students to senior managers take MRT because the other choice is grossly expensive. How expensive? Read here:
Proton Preve RM509,605, SGD appreciation and transportation costs

In Malaysia, well, you can easily buy a second-hand car for just a few thousand ringgit. This should be something worth tackling in the near future with MRT Line 1 starting. Perhaps Singapore would be a great example to follow in this sense, with their Electronic road Pricing (ERP) system. We shall see.

written on 25 May 2015

next suggested article:
Sense and Cents from property during a slowdown

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 2 – Pandan no more, Bandar Malaysia instead.

MRT Line 2 alignment has been given conditional approval. Mass Rapid Transit Corp Sdn Bhd (MRT) said that it will be planning an initial tendering process by year-end. All the stations would be revealed soon, second quarter of 2015. Proposed route going into Pandan has been changed to Bandar Malaysia instead. This will complement and connect it to the high-speed rail (HSR) project which is likely to be based there too.

I have recently been to Pandan and the catchment area is huge. As for Bandar Malaysia, by the time MRT Line 2 completes, it should also provide a huge enough catchment area. MRT Line 3 will pass through Pandan instead. Please do not think about this year. MRT Line 2 itself would already take MANY years to complete and many circumstances may change too. Who knows the growth was way above expectations and MRT Line 3 is much bigger than what is envisioned today? Let’s hope for that.

MRT Line 2 is a very important infrastructure project and this was shown when the budget cut did not touch it at all. This is the same for LRT 3 project, the HSR project, the Pan-Borneo Highway and the Refinery and Petrochemicals Integrated Development project in Pengerang. The total development expenditure for all these comes to RM48.5bil. MRT Line 2 costs an estimated RM23 Billion and has 40 stations stretching from Sungai Buloh (nearby my home) to Serdang and onwards to Putrajaya. Depending on the final alignment, it should be ready within 5 years.

MRT Line 3 is likely to be an orbital train system running around the Kuala Lumpur city centre. This will connect the city to the whole Greater Kuala Lumpur plan. The current MRT Line 1 project delivery partners would again be reappointed to the same role. In brief, it meant that if it completes on time, the delivery partners get paid and if not, they have to pay for the delay. I think it’s a good structure because for a very long time, projects tend to be delayed instead of on schedule. As for MRT Line 1, overall progress stood at 58.5% with the underground and most expensive portion 10 weeks ahead of schedule!

I have always believed MRT Line 1 would be on time though as usual due to the size of the project many were skeptical. If we look at the property prices along the routes of MRT Line 1, we can already see the demand is much higher than those without any stations nearby. I have written about this before. Read here:
The Accessibility’ Popularity
.   Personally, I still think buyers should exercise caution and not simply pay for the sky when developers tell them that the new project is within walking distance from MRT. One word, affordability. No matter what happens, when it is too expensive, I would rather stay a little far away and not next to or very close to MRT stations. In fact some prefer to stay slightly further away too. Happy following the progress.

written on 12 Feb 2015

Next suggested article:
Slow 2015? Not for construction.

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 2. Good news to cheer about.

Yes, it’s only going to be ready in 2022. Yes, many things can happen along the way but can any MRT lines be suddenly approved, tender starts and constructions fully completed within three years anyway? Sorry, got carried away by someone who commented that all these mega plans will only be ready in 2022, so no need to get too excited. To be honest, I was not feeling excited. However, I am happy for this piece of good news. It meant that things are still moving forward for Malaysia. It meant that my thoughts of property investments in the Klang Valley are still intact. It also meant that the number of potential ‘good spots’ will increase.

The proposed MRT Sungai Buloh to Serdang and onwards to Putrajaya (SSP Line) has been approved by the government. With this approval, MRT Corp will now proceed with the construction of the SSP Line which is the second line under the MRT project. This project will serve a corridor with a population of two million. The final alignment saw some minor tweaking at two locations at Kuchai lama and Sungai Besi. This will minimise the impact from land acquisition and to enable the optimisation of usage of the remaining land after the acquisition.

Besides this, an additional elevated station will be built near the Technology Park Malaysia (TPM) between stations S25 at Sungai Besi and S26 at Serdang Raya North. With this, the SSP Line will now have 37 stations (bigger than MRT 1) of which 25 stations are elevated while 11 would be underground and one is “half-sunken” The SSP line will allow more residents to have access to the Golden Triangle of Kuala Lumpur and in future, the SSP line will integrate with the Kuala Lumpur – Singapore Hgh Speed Rail. Overall length remain unchanged at 52.2km. Phase one (Sungai Buloh and Kampung Batu) will be operational by July 2021 while the remaining sections of Kampung Batu to Putrajaya Sentral will be operational by July 2022.

written on 23 Oct 2015

Next suggested article:
Kwasa Damansara, NAZA TTDI and two MRT stations

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 2: MMC-Gamuda ‘discounts’ 23 percent to the government

This does not happen often but perhaps will be happening more often in the future? MMC-Gamuda offered a 23 percent ‘discount’ to the government through its new price tag for the above-ground portion of the MRT2 project. They are the turnkey contractor and the original price tag for the project was RM22.64 billion. This was achieved through a reduction in cost and rationalisation in work scope without cancelling any of the above-ground stations. (This deal is thus different from the savings achieved in LRT Line 3 yeah because that one entailed station cuts…) Finance Minister Lim Guan Eng said, “Furthermore, the expected cost reduction for the MRT2 project will cut the fares future rail passengers will have to pay, and boost public transport usage in the Klang Valley.”

As per the original plan, the entire MRT2 line is expected to be fully operational by July 2022 and will cater to two million commuters from Sungai Buloh to Serdang and Putrajaya. There’s bad news for MMC-Gamuda for now though. Putrajaya has terminated MMC-Gamuda’s contract to build the underground portion of the MRT Line 2 (MRT2) after the two parties failed to reach an agreement. All unfinished underground work will be re-tendered via an international open tender process. The reason for this was because the government felt it could achieve “further significant savings” as compared to a new offer made by MMC-Gamuda. Lim said, “The Pakatan Harapan government holds steadfastly to obtaining ‘value for money’ on all government expenditure, especially when large borrowings are required to complete any project.” (In brief, the tender will be open to all and who knows the winner may be MMC-Gamuda again?)

Personally, I think majority of Malaysians would not mind cheaper MRT ticket prices in the future. However, it’s equally important that the cuts are only in cost and not in the standard of the whole construction. Whenever we look at the construction sector, when costs are cut, it will affect everyone including the sub-contractors. If I am the sub-contractor and I am given a 23 percent price cut target by my main contractor who was given the same targets, I will have to accept it and just do it. As for how I will do it, this is something to be monitored closely. Finding someone to blame in the future if any untoward incidents happen is not something nice to do. Happy following and I still think the MRT Line 2 will be completed even earlier than the earlier completion of MRT Line 1.

written on 7th Oct 2018

Next suggested article:
Later better than never. I want MRT Line 3

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 2, some recent positive updates

Greater Kuala Lumpur is definitely a good place to do property investment. We can keep blaming the jams or take some actions because MRT Line 1 would be fully operational by mid of 2017. In fact, the Sungai Buloh to Semantan station will start operations in December 2016. Yes, I am quite excited and would definitely try it out with my family. MRT Line 2 is now the new sensation. This is also known as the MRT Sungai Buloh – Serdang Putrajaya (SSP) Line. Do you know where are the stations for MRT Line 2? Read here:
31 new MRT stations, look out for more choices

MRT Line 2 is also moving along and many companies were recently announced as winners of many of the available work packages.
Mass Rapid Transit Corporation Sdn Bhd (MRT Corp)
 Chief Executive Officer Datuk Seri Shahril Mukhtar said that MRT Corp would be awarding contracts worth RM10 billion within six months. To date, almost RM18 billion worth of contracts have been awarded under MRT Line 2. The overall construction cost for Line 2 is at RM32 billion. This is higher than Line 1 which cost RM23 billion. MRT Line 1 is at 84 percent completion currently.

Just a few days ago, I wrote about LRT Line 3. It’s moving along just fine. Read here:
LRT 3 is moving along, RM9 billion and 26 stations

It’s important for everyone to start noticing all these new upcoming stations, especially the less familiar names. The property price increase will definitely slow down not just because of the current market situation but because there would definitely be more accessible choices too. Also, the prices have gone up much faster than the salary during the 2009 – 2013 period. So much so that Khazanah Research Institute said that the prices of properties are today very unaffordable.
To be affordable, KL homes must be RM280,000

Before anyone starts to be alarmed, do take a look at what’s available below RM300,000 in the Klang Valley today. There are still choices. Happy buying.

written on 12 May 2016

Next suggested article:
Kwasa Damansara, NAZA TTDI and two MRT stations

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 2, Sungai Buloh – Serdang – Putrajaya (SSP) updates

I have faith with the Klang Valley property market. I also have faith with many further and secondary areas which will be connected in the near future. To me, it is never just that few areas always loved by many. It happened to be way too expensive for the majority anyway. Secondary areas would get better, especially since even the
 MRT Line 2
 is always in the news with ever more updates plus MRT Line 1 well on track thus far. Reported in Starbiz, Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has awarded over RM20 billion worth of contracts to build the Sungai Buloh-Serdang Putrajaya (SSP) Line as of June 2016. This is 16 packages out of the total of 72 packages.

The three stations from
Damansara Damai to Sri Damansara
 would be built by Sunway Construction Sdn Bhd. (Please do a good job, ok my dear Sunway). 4 new stations between Kepong Sentral to Jinjang will be built by Ahmad Zaki Sdn Bhd. I think this will help to alleviate the jams tremendously especially during peak hours.Perhaps one reason is also because there are just too many traffic lights along this route. There would be 4 new stations from Sri Delima to Jalan Ipoh and this will be built by IJM Construction Sdn Bhd. MRCB would complete the two stations from
Cyberjaya to Putrajaya
. I did not bother to mention the actual contract worth because if the cost over-runs, the one in trouble is the MRT Corp. So, I wish them the best, just benchmark MRT Line 1 and make it better.

MRT Corp
 said that 90 percent of 10,000 respondents at 27 different locations was positive for the SSP Line. In fact, it will be serving a population of around 2 million people from Sungai Buloh to Putrajaya. (Seriously, I think it will be more, especially with more people moving to this part of the Klang Valley with the new residential projects)  Phase 1 of the MRT Line 2 is targeted for completion by July 2021, consisting of 12 stations. It will run from Kwasa Damansara to Kampung Batu. Full completion will be second quarter of 2022. (Just less than 6 years away, pretty fast really). Do refer to the image from
PropertyInsight.com.my
 for reference for all stations. Happy constructing to MRT Corp.

written on 4 July 2016

Next suggested article: jj

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Line 3 (Circle MRT Line) study submission by end 2016.

I love MRT news. MRT Line 2? Come on, that’s already an old news. MRT Line 1 is undergoing final tests for
phase 1 to be operational by end 2016.

The construction has even begun for MRT Line 2 SSP (Sungai Buloh – Serdang – Putrajaya). So, what’s new? MRT Line 3, also known as Circle MRT Line has some good news. MRT Corp will submit their study to the government by end 2016.  It’s Chief Executive Officer Datuk Seri Shahril Mokhtar said, “We started the feasibility study early this year, and hopefully it will be completed by then and we will present it to the Land Public Transport Commission,”

In terms of the location and the stations of MRT 3, do google for the many unconfirmed news but as per Shahril, the stations would be in the central of Klang Valley as Circle MRT Line aims at connecting all existing lines to ease traffic congestion. The cost for this new line is still too early to be estimated because this would depend on the final alignment, the length, land price and the number of stations. I think lots of learnings from MRT Line 1 and
MRT Line 2
 could be applied and thus far, the MRT projects has shown that good project management is really possible.

All these public transportation really do help. When I first moved to Damansara Damai nearly 2 years ago, I needed an hour to reach the office if I were to leave my home at 730pm sharp. Today, I could leave at 730pm, drop my daughter at nursery in Sri Damansara and still arrive in office with the usual jams before 830pm. I think slightly fewer cars are on the roads especially those going into the city centre. I have ever more colleagues who are
relying on LRTs today
 and everyone seems to have accepted the walking and waiting which is definitely better than ‘jamming’ on the road. Happy planning and building MRT Corp.

written on 12 Aug 2016

Next suggested article:
Home buyers? 13 more stations from kelana Jaya LRT line

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


Yes, I want the MRT Line 3. Later better than never. What about you?

I was speaking in Ipoh for iProperty’s Home and Property Fair a couple of days ago. Instead of speaking about the state of Ipoh property market (which is okay lah), I focused on the effects of the 4Ps (People, Price, Policy, Preference) to the property market instead. The crowd in Ipoh nodded their heads when I asked them if the MRT Line 3 has been cancelled. I replied that MRT Line 3 has its benefits and it has actually been deferred to a time when the government is more ready, financially. I am not sure how many believe that one day in the future, most Malaysian working professionals in Greater KL will be taking the public transport. Just look at Singapore for clues. They are extremely well connected (MRT and buses) and with some ‘push’ policies from the government (Certificates of Entitlement (COE), car prices, petrol prices and CAR PARK rates etc) will ensure the public takes the public transport as first choice, somehow. The same thing in Hong Kong. People takes the MRT because the car parks are crazily expensive. Just buying one extra park park can be millions of HK$! Here’s an earlier article:
When even the car parks can be bought and sold like a home

The push for more Malaysians to take public transport has to be supported by a fully integrated public transportation system. Yes, this is why the MRT Line 3, also known as the Circle Line should be continued even if later because better late than never.

I am not the only supporter to MRT Line 3. MRT CEO who said this: “We abide by the government’s decision (to discontinue the project) but we also acknowledge that the MRT line 3 is critical to close all the loop. “We hope that one day in the future, once the government’s fiscal position gets better, the government will consider this.”
The full article in NST.com.my here.

 Beyond those prominent property industry people, the man on the streets
 has these to say in an article in TheStar here.
 A 33-year old engineer who takes the public transport daily says, “I think it is a good idea to put the project on hold for now and not just push the project through without a thorough investigation in view of the extremely high cost,” said Chua Yong Seng who works in Kuala Lumpur. An event planner who had hoped to take the public transport said, “I live very near one of the proposed stations and was hoping to finally be able to have the option of using the train into the city centre,” she said, adding that travelling via train was a much better alternative than by bus or taxi. One thing’s for sure though, all of them agree that the project should be deferred if the government is not ready at the moment.
 Here’s that article for reference again.

I know, for those who has properties somewhere nearby some of the proposed stations may be very disappointed with the decision but we must also understand the financial facts of the situation. There are currently many changes that will be happening and thus, the budget 2018 versus the budget 2019 would be a totally different budget altogether. GST is also leaving us and SST is arriving soon. That’s why the car sales shot up through the roof. Earlier article here:
People are simply buying! Not everyone needs new cars right?

Please remember not to buy based on ONLY any proposed plans. The property in question should also be at least attractive in many other areas. If we hate everything else but we buy the property because it’s near to a MRT station, then be prepared for extremely high risk. Oh yeah, buying properties just because there are jams is also not the right thing yeah. Haha. Happy following.

written on 3 July 2018

Next suggested article:
Nope, not about investing in ‘youngest’ country of the world

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT or not, still need to know what we buy.

These days, newer property launches are all touting ‘
nearby MRT stations or upcoming LRT stations
‘

as key selling points. In fact even the secondary properties would have distance / duration written in the property advertisement for better reference to potential buyers. I shared during my talk the other day that these days, with the MRT, LRT, Monorail, Komuter stations and even buses, it is highly unlikely that there are developments which are NOT connected to one of these. Perhaps it may require a bit of walking but that’s about it. I rate walking of 10 minutes (800 metres to 1km) as acceptable because I am used to it when I visit my friend in Singapore. (In case you did not know, not every HDB flat has a MRT / bus stop right below the flat.
 Usually, some walking is still necessary.

Haha). So, assuming we are now buying a new place nearby one of the MRT stations, what else should we take note of? Let’s look through a few.

Buying to stay or buying to rent out? Buying for stay is straight forward. It should be convenient for everything you intend to do. Close to office, close to your children’s school or even close to the wet market if your parents love to walk there every morning.
Buying to rent out means

you need to be certain who is your target market. Students? Make sure it’s nearby some universities. Office professionals? Nearby to office towers would be really awesome or the home is near enough for these office professionals to stop driving during weekdays.

Rental study and comparison. Usually, the closer the place to a MRT / LRT station, the more expensive it is. However, instead of just relying on distance, we should check out the rental rates in any of the top property sites. Information is readily available these days. Example: iproperty.com.my, propertyguru.com.my and
propsocial.my
 Check out the rental for an empty unit versus a fully furnished one. This allows us to make a better decision. Buying for AirBnB? Check out AirBnB first. Is your area a popular one? As long as there are LOTS of similar properties on offer and most of them are already seasoned ones, do proceed to buy.

It may just give you huge returns.

Price premium analysis. New vs secondary. Newer properties are usually priced higher because it is only going to be completed 3-4 years later. It is usually also nearer to the LRT / MRT stations too. Secondary ones however may have been built earlier and may not be close to the stations. This is why secondary properties are usually cheaper, in terms of price per sq ft. It looks older mah…. If the difference is small and you prefer a totally new unit, then buy from new launches. If you need a place to stay almost immediately, then a secondary unit is much better.
Savings can be used to buy some furnitures
 and electrical goods for example.

I believe a lifestyle incorporating the public transportation is definitely necessary. I think the government would have to exert more pressure for this to happen faster. In some countries, parking are made much more expensive while in other countries, the price of vehicles are made so high that only a small minority could afford them. Getting used to walking a bit more is the hard part. It seems that the weather does not help too. Remember, changes are always uneasy but after awhile everything would just become easy. Happy taking the MRT and buying places to take advantage of all these new stations.

Please LIKE
kopiandproperty.com FB page
 or
Sign Up for free
 to get daily updates about the property market.

written on 8 Aug 2017

Next suggested article:
Working till 68. Still healthy I guess

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...


MRT Putrajaya Line Phase 1. Completed but not ready to start.

I was invited to take the MRT Line 1, also known as MRT Kajang Line when it first started. Look at the photo below when I was many years younger. They even gave me and these invited guests (famous KC Lau and Ishmael Ho) a MRT bag to ensure everyone can advertise MRT for them. Guess what, I have been waiting for the invite to take the MRT Putrajaya (Phase 1). However, latest news is that this starting will take some more time. Read the article below yeah.

MRT Kajang Line

Article in themalaysianreserve.com
   MRT Corporation Sdn Bhd said that the Mass Rapid Transit (MRT) Putrajaya Phase One line is still undergoing some rectification by the turnkey operator in preparation for full operations.

On Nov 16, 2021, MRT Corp chief executive officer Datuk Mohd Zarif Hashim said the line may be ready for revenue service in the second quarter (Q2) of 2022. Before this announcement, the Phase 1 of Putrajaya Line was supposed to start from Aug 2021.

For the simulation, a total of 16 trains have been running between Kwasa Damansara MRT Station and Kampung Batu MRT Station in full-service mode – minus the passengers.

MRT Corp said, “Meanwhile, the construction of the MRT Putrajaya Line Phase Two is also progressing well,” As of Oct 4, 2021, the construction of Phase Two line is 93.52 per cent completed, and it is expected to begin operations in January 2023.
Article in themalaysianreserve.com

Not the best time to start service

Not many people would love to be seated or even standing next to strangers for 30 minutes or more currently. Thus, perhaps the slight delay can also be a blessing in disguise as well. What is certain is that when the MRT Putrajaya Line starts, the choices of homes for people will also increase. There would be more advertisements with this remark, “5 minutes from XXX MRT station” This remark is supposed to bring some premium to the pricing of the home or rental of the unit.

Well, just need to remember that it really does depend on who is buying these homes nearby some MRT station yeah. Not everyone who buys would prefer to take it versus driving. Not everyone who buys would need to drive to office during peak hours too. Truth is, driving when it’s not peak hour meant that driving provides much more convenience as well as time saving too.  However, I am sure it’s going to be needed in future when the government is more serious in stopping people from driving into the city centre.

Happy waiting for it yeah.

Property News Malaysia?
Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).
 Alternatively, Follow me on
 Telegram here
.

Please LIKE
kopiandproperty.com FB page
 to get daily updates about the property market beyond kopiandproperty.com articles. Else,
follow me on Twitter here.

Next suggested article:
Property Investment Quotes I love

Header Image by
nuttanart
 from
Pixabay

Share this:
Tweet
Telegram
WhatsApp
Like this:
Like

Loading...