Sen wise, Ringgit foolish

Property is an Asset, most of the time. A car is a liability, all the time. A friend bought a new Japanese car recently, a segment B car. 🙂   When asked why is he choosing that model. He said, ‘the agent said this one saves fuel a lot. Even more fuel savings than the previous model. The agent also said the second hand value very good. If sell after 3 years, you only lose 20% or less.’  This friend is an engineer in a MNC in Penang. Let’s look at what the agent said on both comments. One is fuel saving. How awesome. Let’s assume that at current prices, the price per km for this model is only 10 cent. Quite impossible to reach but does not matter. We assume it to be 10 cent. My current Persona gave me around 15.6 cent per km. Does not matter, let’s assume it to be 17 cents just to make the difference much greater.  So, we come to 7 cent per km. If you drive only 10,000km per year, you have a savings of RM700. If you drive 20,000km, you have savings of RM1,400. After ten years, you save between RM7,000 – RM14,000. Reminder, you have to drive 10 YEARS to save this. And the numbers are already exaggerated. The price paid for the model versus the current Persona with 2 Air Bags, 4 Disc Brakes, ABS, EBD is only about RM40,000 difference. Oh yeah, if you really do want fuel savings, I recommend VIVA.

Second comment is the ‘second hand value very good’. In Malaysia, if I remember correctly, the typical car ownership years are over 10 years. Thus, the question of selling after 3 years is really not likely. Let’s assume this friend is very rich and really changes car every 3 years. So, his car price of RM85,000 x 20%, he would only lose about RM17,000. Is he going to take MRT after selling his car? Of course not, but he can’t be buying same model right? Assuming he buys another Segment B model, he would have to start repaying RM85,000 or more all over again just to SAVE 20% losss after another 3 years. Makes a simply great
Sen
se.

If we look at the monthly payment, the total savings per month is close to RM700. With RM700, you can already nearly pay for a RM200,000 property and get good rental for it. Do not get me wrong, if this engineer friend of mine is a Director of Engineering, I would not say all these. However, as a young engineer, I think his planning is currently too  emotional based instead of planning for future. He wanted to tell all his peers that hey, I am driving a better car than you. Most of the time, we spend too much time trying to do things we do not need to show off to people we should not care about in the first place. Nevertheless, I did not argue with him. I just smiled and left the conversation. After all, I am considered a different class. I drive just a national marque. Oh yeah, last but not least, for me, if you want to show you have achieved a minimum standard I consider as successful, nothing less than a Segment D car (Teana / Camry / Accord / 508) is needed. Not even Segment C. (Civic / Altis / 408 / Preve)  In English, there’s a term called ‘Penny wise, Pound Foolish.’ I think in Malaysia, we need ‘sen wise, ringgit foolish’ too.

written on 3 Jan 2014

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Senai Airport City aiming for RM4.5 billion GDV

Airports bring in international travellers

Senai Airport will always be playing second fiddle to the Singapore Changi Airport. Let’s face the facts. However… Senai Airport is also next to Singapore and is therefore also another gateway into Singapore. Please note that in the future, flying into JB and then taking the Rail Transit System (RTS) into Singapore is a mere 5 minutes ride yeah. Meanwhile Senai Airport into the JB city centre is less than 30 minutes. Now, this sirport will be complemented by the Senai Airport City development. What is this development about?

Article in themalaysianreserve.com

SENAI
Airport City, an approximately 1,100ha of integrated industrial development in Iskandar Malaysia, Johor, is aiming for a RM5 billion gross development value (GDV). It is also targeting another 40.46ha of development to attract foreign investors for 2023.

As a master-planned “Greenfield” development within “Brownfield” industrial neighbourhoods of Senai and Kulai, Senai Airport City is one of the favoured choices of foreign direct investment (FDI) in Malaysia due to its “Plug-and-Play” development model that provides ready infrastructure and strategic position. Do read the full article here:
Article in themalaysianreserve.com

Johor will always be next to Singapore. Period.

The question is not whether Johor will be successful. The question is whether Singapore would continue to be successful. If Singapore would continue to be successful, Johor would continue to be a great partner and will also gain from Singapore’s success. With the right connectivity, staying in JB is not something impossible. As it is today, 300,000 people passes through the immigration daily. I would like to wish Senai Airport City all the very best.

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Already hit 4.2 million passengers. We need an upgrade, soonest.

The busiest airport in Malaysia is the Kuala Lumpur International Airport (KLIA and KLIA2). In I flew to Bristol, UK for my studies via the Subang airport. That was like long, long, long time ago. Fortunately we have the foresight to build KLIA and not continue to rely on Subang airport even if the current Subang airport already look very modern compared to the time when I took my flight via KLM to Amsterdam and then change into a small SAAB plane to Bristol. Yeah, SAAB is a car brand but it’s a PLANE which I took. Haha. Still in service today, by the way.

After the busiest airport, we have the second busiest which is the Kota Kinabalu International Airport (KKIA) and then Penang International Airport (PIA). Kuching International airport comes next followed by the 5th busiest airport in Malaysia; Johor’s Senai Airport. Actually, it’s not an easy task being Senai Airport yeah. It’s right next to Changi International airport and this meant that it has to grow traffic from passengers who prefer to come to JB instead of through Singapore. So, what’s happening to the Senai Airport?

Article in nst.com.my
   Senai Airport Terminal Services Sdn Bhd (SATS), a member of MMC Group, today had successfully handled four million passengers in a single year for the first time since its opening in 1974.  SATS chief executive officer Md Derick Basir said passenger volume for full year 2019 will hit 4.2 million, a significant increase of 20 per cent as compared to 3.5 million passengers handled in 2018.

He said, “The growth is mainly attributed by the increased capacity created by the introduction of new routes and the additional flight frequencies to existing routes such as Kuala Lumpur, Penang, and Seoul.”  Senai Airport handles an average of 110 flight movements daily with 80 per cent of its operations and passengers contributed by AirAsia. With a maximum capacity of 4 million, Senai airport will now undergo a RM20 million terminal expansion which includes the extension of existing arrival and departure halls towards the south of the terminal building. Please refer to the full
Article in nst.com.my

I happened to be in Johor Bahru at the moment. Typing this article from an AEON foodcourt. My personal feel is this. If Johor can build up itself to be a tourist destination of choice. In other words, there are so many attractions which is NOT available in Singapore, then it will help in improving the number of visitors flying into JB directly instead of via Singapore. Think NATURE… Sun, Sea and Shop too yeah…  The last one, SHOP is needed because else the visitors may prefer to go Singapore instead.

Secondly the connectivity between Johor and other states, for example, Melaka should be enhanced tremendously. Visitors could be tempted to fly into JB and they get to visit TWO states at one go. This will be a win-win situation for both states really. Come up with itineries where the two states are partnering one another. It’s really possible yeah. The two state tourism ministers just have to arrange for meetings over teh tarik. They could also call me too if needed. I go to Melaka and JB at least 10 times per year in total. Haha.  Happy upgrading!

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The elderly, that property and AirBnB for more money

It’s not an easy task to help the elderly. This is especially when they retire and no longer have a fixed income and has to rely on their savings or even their EPF. In fact one advice for retirement is
NOT to retire so early! Earlier article here.
 Just look at the ageing population in many advanced countries in the world today and you may understand the gargantuan task ahead for the government of the day when Malaysia becomes an ageing nation somewhere between 2035 – 2040. Perhaps
one article in Edgeprop.my may help some of these elderly.
 It says that some 800 seniors aged 60 and above have earned more than RM5.6 million through hosting on AirBnB. This was achieved between September 2017 and September 2018.

(Number wise, RM5.6 million divided by 800 seniors would be RM7,000 per person. Divided over a period of 12 months, that’s around RM583 per month per senior. Okay, the amount may not seem to be that big but the elderly gets other benefits too as per the article).  According to a global survey by Airbnb, close to half of the senior age group said  hosting has helped them afford to stay in their homes while about  41% said they rely on their Airbnb income to make ends meet. (Yes, renting out some of the rooms can help tremendously!)  AirBnB shared that the senior host cohort is a fast growing group in Malaysia, with a year-on-year growth of 51.37% to 884 senior hosts in September 2018 from 584 in September 2017. In fact nearly 80 percent of these senior hosts get five star ratings as hosts. (WOW!)
Please do refer to the article in Edgeprop.my for reference.

Now, we get to some reality about the potential of seniors hosting travellers into their home. First of all, they need to have a home. This is the reason why it’s so important that when they were still ‘juniors’ they start investing in that property they are staying in. Perhaps investing in one property every 10 years? By the way, Kuala Lumpur is a top 10 MOST VISITED city in the world yeah. Earlier article here:
Top 7 in the world for most visited city.
 In a year, Kuala Lumpur welcomed nearly 13 million international visitors. Second of all, perhaps we must always ensure the seniors know about all these opportunities and are ready to grab them. So, hopefully with this article, more seniors may see the potential opportunity and start to do something about it. That close to RM600 per month will sure be handy for everyone.

written on 19th Oct 2018

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Making more sense and cents with the RTS design

I personally think a good design is something simple and long lasting. Simple as in usable and not expensive to do. Long lasting as in durability, ease of maintenance and the design does not become an eyesore in the future. I think we have seen too many designs which looked grand, costs a lot to build and starts deteriorating within a few years due to it being tough to maintain and soon becomes an eyesore. Yea, lots of good examples yeah? First class infrastructure and third class maintenance? Unfortunately,it has rear its ugly head just recently when the
 MRT SBK was fully operational.

Coming back to something much more important to two countries, the Rapid Transit System connecting Iskandar and Singapore. This was an earlier article. I hope the
Rapid Transit System (RTS) becomes a reality earlier than the proposed 2024.

Reported in many media was the reservation of the Sultan of Johor with the proposed design of the Rapid Transit System (RTS) rail track linking Singapore and Johor Baru in Malaysia.
The full article in New Straits Times (NST) here.
Sultan Ibrahim Sultan Iskandar said that while he welcomed the project, he disagreed with the curve-shaped design of the track and the 30-metre elevation above water in the middle section. The current design would disrupt the city skyline along the Johor Straits. The Sultan said, “We are talking about a permanent fixture here. Go back to the drawing board and review the overall plan.” He then said something which I think is extremely important. He said, “Whatever (new plan) is presented to me, it will have to be logical, economical and sustainable for the benefit of not only Johoreans but all Malaysians and Singaporeans.” He said that the current proposed curved design is impractical and costly. (Do note that when something is costly, the ones who would bear the cost in the end would be the users, in this case Johoreans and Singaporeans who do not drive)

Regardless of who said it, when it involves something as fundamental as sense and cents, it’s time to do more research. Logically, the design should be as simple as possible. This will not just make sense but also saves a lot of cents too. If the fare is not competitive or affordable, the number of people taking it would be low. Soon, the maintenance suffers because of a lack of funds from the tickets. In the end, the project fails. In order for the fare to be affordable, the construction cost would have to be pushed to as low as possible in the first place. Thank you Sultan Ibrahim Sultan Iskandar. I hope the right people takes note of your views. I have done my small part to tell more people too. Cheers.

written on 10 Aug 2017

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Sense and Cents from property during a slowdown

Another friend asked me about my thoughts about property market. With the slowdown would it cause a bubble. Well,
property bubble is mostly caused by property prices increasing continuously to unsustainable level.

I am not sure if slowdown since 2013 would cause a property bubble but my take is, No. Perhaps a better question would be, since the best years to buy were way back before 2012, would it still make sense or would you be making cents from the property investment today?

Before I start telling why, I would announce that I have intention to purchase properties for rental this year. Just let me settle my new baby’s stuffs first. Haha. In the mean time, stock remain my favourite. Many undervalued stocks these days and the volatile stock market meant some stocks are totally overlooked which is fine for me.

For a buyer, it makes great sense to buy during a slowdown. The reason can be illustrated by many buyers who are today ‘delayed’ by the Iskandar slowdown. Most bought during days when everything was hot, hot and hot. I use the word ‘delayed’ and not trapped to describe those who can still manage the monthly payments while waiting for better time to come. For those who could barely afford in the first place, then these people are now trapped. Yes, it definitely would make
better sense to buy during a slowdown instead of during the hot, hot and hot times.
 Do note that we should buy undervalued even during slowdown and not simply any property.

For buyers who believe that the best years were past, I do agree with you. Honestly the years of 2009, 2010 and even until 2012 it was crazy. Almost every friend who bought something got a huge return when they sold their properties. Come on, it was then that the condos were still being sold at RM300 per sf even within the Penang island!  So, the gains in Ringgit may be over but the gains in Cents are still here. There are still many condos which are in less
popular areas which is within our budgets today.
 Yeah, some waiting may be necessary. In the mean time, just rent them out. Negative returns? If it is a small negative but I really like the property, I would proceed. Disagree? It’s still a decision. Just be happy with whatever we decide.

In conclusion, it definitely makes more sense and buyers should still get decent returns as long as they are focussing on undervalued properties. Just use rental as a benchmark. Please do not put future MRT 2 stations in the calculations yet. MRT 1 stations, yeah but the opportunities are lesser. I am pretty sure already way too many people are already interested in these units today. Happy making sense or cents.

written on 9 May 2015

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When sentiment turns positive … plus good fundamental.

Need positive stories, quotes and even videos? As at 11th May 2018, there are a lot of these on Facebook of Malaysians. For non-Malaysians, it’s time to have at least a few Malaysian friends. Haha. Okay, coming back to business. The Malaysian stock market will end higher in less than a month or perhaps longer BUT consensus view is that the new government promises reforms and this is positive for the market. This was reported in
TheStar ‘Analysts and fund managers growing bullish’
 For readers of kopiandproperty.com, you would know that I have been saying this for some time; Malaysia is NOT going bankrupt suddenly. It’s also not clever to just say that because some brands closed down, the whole economy is ‘dying.’ Read here:
Lots more new brands to enjoy, really. Cheaper and better please.

By the way, the economy is NOT due to one person or party, okay. It’s because of many hardworking Malaysians and it is also due to good people that we have who does not necessarily need to be from the previous government yeah. Even for the new government, for the important positions (for e.g EPF and BNM), please appoint good people and not party people yeah. We are watching you. Anyway, now that we have a new government, perhaps people can start to believe me? Since any news about the economy is now due to the new government. 🙂 Anyway, as per
TheStar article,
Affin Hwang Assrt Management director of equities strategyand advisory Gan Eng Peng said that many investors would look at Malaysia as a reform play after 60 years of policies and on the “
BACK OF A HEALTHY ECONOMY
.’ (Have to bold it…)

Meanwhile MIDF Amanah Investment director of corporate investment banking Sherilyn Foong said that the win by Pakatan Harapan is seen as as positive for corporate Malaysia because this would see an enhanced role of the private sector being played out. Retirement Fund Inc chief executive officer Datuk Wan Kamaruzaman Wan Ahmad said this about the election result. “This is positive for the country in the medium and long-term outlook. This will also lead to the country learning from its previous mistakes and repairing its shortcomings to ensure better public and corporate governance.” Rakuten Trade Sdn Bhd vice-president (research) Vincent Lau said, “We will be recommending clients to buy once the market has calmed. Malaysia has
GOOD ECONOMIC FUNDAMENTALS
 (yes, I have to bold this again)
This is the full article again.

This morning, I met
Dr. Daniele Gambero in his office
 and he said, ‘Wow, new Malaysia.’ I responded, ‘Malaysia is the same but the SENTIMENT is now very POSITIVE.’  I always believe market is not just about fundamentals but also about how people feel. Usually a positive sentiment would help a lot especially when our fundamental is intact. That decision of whether to buy or not to buy may be made soon. It’s not the same as whether could afford or not afford. Happy investing all my dear happy Malaysians.

written on 11 May 2018

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Sentiment simply means it could change, quickly

This is what Warren Buffet said when it comes to stock investment. “Be
fearful
 when
others
 are greedy, and be greedy when
others are fearful
.”  Briefly, this meant that when everyone is buying like there’s no tomorrow, we should stop following.  When everyone is selling like there’s no tomorrow, we should now start to buy all those undervalued stocks.  One major reason why the stock market could move up and down so fast?

Company fundamental and the business they are in? Not really.  It’s the sentiment. Also known as herd mentality.  Just look at the stock markets data below from Public Mutual. I received this as a Mutual Gold member.  The year-to-date numbers for the stock markets are all in RED. No prizes for guessing. It’s the effects from COVID-19.  However, the weekly change is mostly in BLUE; positive.  One major reason cited was the reopening of economies. Yes, even Malaysia has relaxed the Movement Control Order which is only officially ending on 12th May 2020.

When we see the above, what do we do? Well, I think it is always wise to diversify our investments.  If we own just properties today, it’s a good time to start understanding some stocks where the prices have already undergone a very significant correction but it has nothing to do with its business and more to do with sentiment. In fact, look around and we could even find some stocks where the dividend yield is 50% higher or more versus the Fixed Deposit rates.

This was what AMINVEST said of BURSA. “AmInvestment Bank Research has upgraded Bursa Malaysia Bhd to a “buy” as the research firm expects its earnings for the first quarter of 2020 (1Q20) to come in strongly at RM67 million on the back of higher securities and derivatives trading revenue.”
Read their full assessment here.
  By the way, I do not own any BURSA Malaysia Bhd stocks and have no intention to buy any at the moment. I prefer high dividend yield bluechips instead. Buy low and keep for a while. Happy investing yeah and remember, one thing drives the stock market; SENTIMENT.  This could change very fast.

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Singapore Sentosa property trouble. Collapse?

Is Sentosa of Singapore in a ‘property trouble’? I think the property prices have been decreasing a lot. Reason is because the buyers of Sentosa are normally the foreigners and when markets are uncertain, these are the first ones to sell. Just look at BURSA of Malaysia and you would note this too; foreign selling. I think this is always an issue when you want the world to be attracted to you and yet when the world’s priorities changes, their first sell would be the foreign markets; you. An article online in nytimes.com said that the slowdown in Sentosa is getting worse. It gave One example of TWO units of condominiums being sold for less than half their original price while others sit empty. The article’s title? ‘A High-End Property Collapse in Singapore’.

Actually, I do not agree with the title. Collapse is perhaps too strong a word. Then again, if it had used ‘slowdown’ or ‘slowing’, it may not get enough attention. The article explained why Sentosa became popular and how now it is collapsing because  of the government’s measures which had deterred new buyers. It also said that the current people staying there are mostly expatriates and these people are renting and not the owners. The rental has also been falling too. It also said that the recent few sales showed that the sellers are taking in losses by selling. Huge losses two. The article ended with another two cases of condos being sold at below their original purchase price. Read it here:
nytimes article

Whether the market collapses or not I cannot say but my personal opinion remains that the property markets of both Singapore and Malaysia remain on sound footing if we are talking about collapsing. If we think about prices going down? Perhaps in some areas and some types but I cannot believe the market is close to collapsing. Think rationally and objectively. Demand would come back suddenly if the prices were to go down by 10%. Imagine thew current property you wanted at RM600k is suddenly down to RM540k. Would you wait or would you buy? If you say you will wait, good luck. I think many would buy as it represents a sudden bargain. Yes, I am not an international economist or even those famous property gurus. I am just a very small time property investor. Let’s see if I am right should the market really collapses, beginning with Singapore just as what the article said.

written on 21 Feb 2015

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Sentul properties? Average of RM387 psf. Interested?

Slightly over two years ago, I accepted an offer to work in KL and I brought my whole family along. My wife resigned and became a home minister instead. From our 1,258sf Balinese styled condo in Penang, we moved to a smaller 1055sf condo unit in Kelana Jaya. I do not think I should ‘downgrade’ into a smaller place, thus I started looking for a bigger place because I felt that a growing family would need a bigger space and perhaps an even better environment like the one I used to have in Penang.

Sentul was one of the areas I looked. It was near to my office and the developer was considered a branded one, YTL. Surely their projects would be good. I looked at The Tamarind which was considered within my budget. The minimum size that I was looking for 1,300sf, thus The Tamarind’s 1,345sf fits what I wanted and the price was considered acceptable too. That was 2 years ago. Today, The Tamarind is still considered ‘affordable.’ What’s the current price? A check on iproperty revealed the following:

There has been no huge differences then and today. Perhaps up a little but that’s about all. In fact, Sentul remains very affordable. In a report by theedge property days ago, the average transaction price for condos in Sentul was only RM387 psf for Q3 2014. Of course, when The Capers and The Fennel is completed, this average price would move up because the launch price then was already RM600 – RM700psf. Yes, a colleague has bought one unit! I get to visit it when its completed.

According to the report, The Saffron and The Tamarind were the most expensive projects there, today. The average transacted prices was RM619 psf and RM547 psf respectively. One main reason for Saffron’s premium is because it is a newer project. It was completed in 2008 while The Tamarind was completed in 2005. Sentul is not considered a popular area before Sentul East. Even today, when we look at the price psf, we can see that the prices remain affordable except for the few YTL projects and the few upcoming YTL projects. Location wise, Sentul can be considered to be in a very strategic area, only around 7km away from KLCC. Perhaps the only issue is because it’s already a mature neighbourhood full of older developments. For any continuous redevelopment, it is likely to take time, especially when versus the newer integrated projects of today. Thinking of affordability? Sentul is still a choice. Happy scouting.

written on 25 June 2015

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Press Release: IJM Land – More than Aesthetics: Landscape Design in Seremban 2 Instils Sense of Community Among Residents

More than buying a home, homeowners look forward to a surrounding that is able to enrich their everyday  lives. Essentially, a home’s surrounding is just as crucial as the building itself — making landscape design  an essential part of what makes a township successful.

As one of the most progressive and successful townships in Negeri Sembilan, Seremban 2 by IJM Land has  managed to set the scene since more than two decades ago, and is now known for its grace and serenity of  a country atmosphere due to exceptional landscape planning.

One with Space and Nature

Before considering built homes, the best developers lead their planning with the available landscape. While  Seremban 2 continues to attract homebuyers due to the factors of connectivity, convenience, safety and  quality, residents in the township appreciate the well-built landscapes that encourage people to meet and  congregate, ultimately cultivating a tight-knit community.

Throughout its 3,800 acres, the landscape design in Seremban 2 has witnessed a few stages of evolution in  responses to natural factors. However, the wide spaces and rich natural life found throughout the township  have been an integral experience within the lives of Seremban 2’s community.

“As a developer, incorporating elements of green design and innovation in landscape is crucial as it has  been proven that proper landscape planning and designs, coupled with the sustainability factors, help to  create a stimulating environment for residents to call home. Additionally, landscaping offers the opportunity  to generate more value for homebuyers and completely change the perception of a township,” said Dato’  Hoo Kim See, Senior General Manager (Central Region) of IJM LAND.

The first thing one notices upon entering the Seremban 2 township is the wide roads that can measure up  to 132 feet for the main road and 50 feet for internal roads. In terms of road shoulders, footpaths and cycle  paths are requirements set by the Local Authority. Currently, a wide 2.4-metre concrete walkway cum cycle  path embellishes the roads across the township. With these larger spaces, IJM Land has succeeded in  implementing greener efforts in its landscape planning.

Planning and Planting

Green initiatives such as rooftop gardens, recreational parks, and designated green sanctuaries have made  their way into the local development scene over recent decades. Besides being attractive selling points,  green architecture and sustainable developments are also sustainable ways to make up for the depleting  green spaces within our concrete jungles.

Through extensive landscape planning, Seremban 2 is able to adorn the streets and green spaces with over  40,000 trees and plants that not only add to the countryside sensation but are also adaptable to the local climate. Covering mostly streetscapes and open spaces, the trees and shrubs are selected based on very  specific criteria set by local authorities — require less maintenance, thornless, non-poisonous and fruitless  trees.

Primarily, the plant selected would ideally provide shade and barrier from the harsh Malaysia weather,  making them more functional than they are aesthetic. Plants are also picked by their survivability when  faced with harsh soil conditions — compacted, waterlogged, and nutrient and water deficient. They would  also require the least to none assisted watering, fertilising, and also minimal trimming. Some unique  examples that can be found in and around the township are the Dwarf Geometry Tree, Rainbow Red Gum,  River Red Gum and
Bungor Langkawi
.

One plant that truly stands out in Seremban 2 is the
Pongamia pinnata
which is often planted as a shade  tree. Apart from its ornamental effects, this species is also one of the very few nitrogen-fixing trees with  the rare ability to convert atmospheric gas into usable compounds. The converted compounds, such as  ammonia, can be used to supplement the plant or to be added into the soil to nourish and support other plant  lives.

“The trees and shrubs planted in Seremban 2 are required to follow the guidelines provided by Majlis  Bandaraya Seremban (MBS). Moreover, every single development is required to be covered by a minimum  of 10% of green areas,” said Dato’ Hoo. “While landscape planning is conducted based on specific  guidelines, we still try to imbue our elements that are able to showcase the personality of Seremban 2, such  as the Rainbow Red Gum and Yellow Flame trees that accentuate the countryside.”

Cultivating Appreciation and Ownership

As landscape development continues to become an imperative part of property development in Malaysia,  up and coming townships are required to allocate adequate land for more green spaces and parks. For  Seremban 2, its signature 30-acre Hill Park and 15-acre S2 City Park are township landmarks where  community activities are held, and humankind and nature thrive together.

“More than providing quality life and a serene environment, landscape planning needs to be the first  consideration of any modern development to ensure consistent progress as for a township. The real potential  of landscape design lies in its ability to compel residents in attaching a sense of pride and ownership to the  place they call home,” Dato’ Hoo added.

For more information about Seremban 2, please visit here.

-End of Press Release –

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Press Release: SEREMBAN 2 Through The Eyes of The Avid Photographers

Photography contest poised to reveal the lovely secrets of the township

People who live in Seremban 2 can proudly claim that they own an address that pays tribute to both nature and the built environment. This unique feature is a testament to award-winning developer IJM Land’s masterful town-making skill, as can be seen through its replication across the many exemplary projects.

Encapsulated within scenic nature, yet replete with all the modern conveniences, Seremban 2 is certainly the crown jewel of Negeri Sembilan. Lush green spaces dominate the landscape, dotted with trees and carefully crafted infrastructures that complement leisure and pleasure.

All these beauties and more are already part of the common vista enjoyed by the residents of Seremban 2. Malaysians in general, however, are still unaware of the many insta-worthy backdrops that grace this place. With this in mind,  IJM Land in collaboration with Nikon have come up with a sure-fire way to showcase the unique allure of this township, the
S2 in My Eyes
 photography contest.

“Seremban 2 is one the most promising township projects of IJM Land, as with all our previous developments which were equally milestones in our many achievements. Those who claim their address here enjoy unparalleled access to contemporary conveniences while basking in the wonders of nature, a rare combination that makes Seremban 2 truly unique. We believe the ideal way to display the beauty of this self-contained township is by allowing the people themselves to tell our story, best expressed through the photos taken by their camera lenses,” said Chai Kian Soon, Senior General Manager of IJM Land.

The contest brings together everyone of all ages, which means aficionado and dilettante photographers are all welcome to vie for the lucrative prizes.  A whopping total of RM68,000 of cash and prizes have been prepared, so get your trigger finger ready for some shutter-speed action.

Open category

Aged 18 years and above

Student category

Aged 18 years and below

Prizes are as such:

Open category

Top three winners

Each person will receive a cash prize of RM3,000, a Nikon Z fc mirrorless classic body with NIKKOR Z 28mm f/2.8, worth RM5,648, and a certificate.

Five consolation winners

Each person will receive a cash prize of RM1,000, a SanDisk portable SSD (1TB) worth RM1,726, and a certificate.

Student category

Top three winners

Each person will receive a cash prize of RM1,500, a Nikon Z 30 Mirrorless body with NIKKOR Z DX 16-50mm f/3.5-6.3 VR, a SmallRig Tripod (remote control for Vlogging) worth RM3,918, and a certificate.

Five consolation winners

Each person will receive a cash prize of RM800, a SanDisk portable SSD (1TB), worth RSP RM1,726, and a certificate.

All the fabulous photos for the taking

The time has come for your creativity to run wild in the wilderness of Seremban 2. Any subject that portrays or interprets the view of the daily happenings within the Seremban 2 is allowable for submission. This could range from lifestyle, work, recreation, people, nature, architectural studies, heritage, food and the environment.

And there will be plenty of subjects for the camera lens since Seremban 2 is a place rife with opportunity. Participants can head over to the 15-acre City Park, where kites are seen riding the afternoon wind. The Tai Chi practitioners there make for a formidable sight, not forgetting the usual family crowd who enjoy a quality moment together.

Then the four-acre lake beckons at the centrepiece of the park, another place that will favour the opportunistic photographer. All these speak of the natural wonders that residents of Seremban 2 experience on a daily basis. If nature is not your thing, then your camera lens will find many subjects in the form of gastronomic delights that dot the place, from Chinese, Korean, and Japanese to western styles like Italian.

Capture the pulse of life at AEON, Mydin Mall and more. Sports and activities at the S2 Club also provide ample shots for the avid photographer. These holistic living elements speak of the unparalleled town-making skill that IJM Land has long been identified with.

Looking back to 1995, Seremban 2 was previously a barren parcel of agricultural land with a low appreciation value. All these changed when IJM Land stepped in to develop it into the most progressive township in Negeri Sembilan. Spanning over 3,800 acres of land, the township is now home to over 62,000 people, a population that continues to grow as the potential of Seremban 2 is gradually revealed.

“Nikon is proud to facilitate this wholesome competition, which celebrates the healthy interaction between humans and the environment around them. Not only are we bringing awareness about the beauty of Seremban 2. From a holistic point of view, we are sending a larger and meaningful message to Malaysians that our country is truly blessed with such natural wonders,” said Dato’ Billy Lai, Business Development Director of Futuromic Photo AV Sdn Bhd.

Get snapping, and get winning

You can expect to witness many participants since Seremban possesses some of the largest photography communities in Malaysia. Note that all photos must be taken within the confines of IJM Land Seremban 2 township.

The S2 in My Eyes photography contest also celebrates 27 years of Seremban 2 by showcasing a mosaic of the best photos of the township. It is also an impetus to launch the IJM Land Seremban 2 Young Photography Club, besides being a purposeful and creative platform to engage the local residents.

“We need to inculcate the importance of the environment into the youths since they are set to become the leaders of tomorrow. Their collective decisions shall determine how future policies play a role in maintaining our cherished ecosystem. And what better way to instill the love of nature in their hearts, than by giving them the opportunity to capture it with their camera lenses? It is a subtle way to show them all the wonderful things that they will lose if they do not rise to protect it,” said Ng Oi Wei, Sales and Marketing Manager of IJM Land.

To those interested in participating in the contest, the
S2 in My Eyes
 photography contest starts from 1 November 2022 to 31 December 2022. For further details regarding this contest, please visit this
 link
.

-End-

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Seremban, Mah Sing, RM7.5 Billion and Ipoh. Nice.

I have many friends from Seremban. In fact many of them and they share a common trait with Ipohans like me. We love our hometowns and most probably would love to retire there. The only setback would be if you have been in KL for your entire working life, would you be able to accept a much quieter place? A lesser developed place? How about lesser options in terms of property choices? I have written a few times about
Ipoh’s condo
 market. About
Ipoh’s luxury condominium.
 Today, sharing a news about Seremban which I think will be welcomed by many as even if they are not buying this one yet, it meant that their choices has just opened up further.

One of Malaysia’s top developer, Mah Sing is planning a RM7.5 Billion Seremban township. Just how big is this RM7.5 billion? Well, this is bigger than the whole GDV for Penang for the year 2014. Amazing when you have the land and the space and perhaps the demand. This GDV in Seremdan is for a piece of 1,051 acre freehold land and it will be launched in 2015 and continue for the next 8 years.According to Mah Sing, this new township will benefit based on the following few reasons. It’s at the entrance of the Klang Valley corridor, proximity to the Kuala Lumpur International airport, Putrajaya administrative centre, Cyberjaya as well as demand from smaller places such as Rantau, Rembau, Port Dickson, Kuala Pilah, Tampin, Jelebu, Pedas and even neighbouring Malacca.

When we look at Seremban and compare it to Ipoh, it does share some similarities. Both does not have HUGE manufacturing industries but lots of smaller ones. However, if you look at the demand for properties in Ipoh, it continues to be strong because of the demand from smaller towns with Ipoh as capital city. It’s also strong because many Ipohans work elsewhere but is willing to buy a property back home, for them or for their parents. Besides that, bigger developers are also starting to buy up huge pieces of lands extending the Ipoh city even further. I think this is starting to happen in Seremban. Yes, it’s true, there’s already a huge project by IJM called Seremban 2 but if demand is not there, it’s not likely that Mah Sing is buying up such a large piece of land. I would love to drive there and take a look next year when they launch their first phase. Buy or not is another matter altogether, learning is a must.

written on 13 Aug 2014

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Serene Villas in Ipoh? Selling out fast.

Everyone knows I love Ipoh, well at least everyone who knows me. Recently another piece of news caught my attention. Imagine homebuyers camping or queueing for homes in KL or Penang and it’s easy. However, to camp for two days in order to secure a unit in Ipoh? These units by Sunway City Ipoh called Serene Villas are being snapped up fast by Ipohans. In Ipoh, there are lots of semi-detached homes for less than RM1 million, easily. In fact, the only ones that have exceeded RM1.5 million for landed properties are only that few gated and guarded ones. These units represents the lifestyles of the richer ones in Ipoh.

Sunway City Ipoh’s Serene Villas proved a huge hit with property buyers at its private preview recently with 60 per cent of the offered units snapped up within two days. Homebuyers camped over two days at the site for their choice units. A private preview for the RM74.2 million GDV Serene Villas was held for registrants on December 13 and 14. In addition to their brand new homes, purchasers also received reward points via their Sunway Property PALS membership which can be converted to cash and be used to redeem fantastic rebates and savings for spending across Sunway establishments. The entire launch consisted of 88 units of two-storey cluster homes and two-storey superlink homes.

As usual, the question would be if there are so many other choices, why are these units snapped up easily? I think it boils down to three major reasons if I can qualify to buy. It’s affordability. Yes, affordability for the richer ones versus affordability for me is totally different. Yet, even if it’s affordable but the concept, the design and the area is just not good enough it would not appeal to these buyers. In this case, just from the concept, the photos and the overall layout, I agree that if I am looking for a landed property which is big enough and surrounded by the many green themes, I would buy one. Third and most important reason would be the market maturity. I think the Ipoh property market is slowly but surely much more open today for these new concepts compared to just more than 5 years ago. With more quality choices and the fact that property news travel much faster these days, we may be seeing the start of a small boom in the luxury segment in Ipoh. It would not be a huge boom as I think the demand is still pretty limited to those who enjoy staying in Ipoh instead of those who are buying for retirements today.

Seriously, looking forward to even more of these new developments in Ipoh besides just the usual rows and rows of terrace houses plus a playground somewhere in the middle of the development. These would always be around and these would always appeal to majority and that includes me. My wish for Ipoh is that it realizes more of its potential being in the middle of two huge property markets of Penang and Greater KL instead of always the ‘overlooked’ secondary city past its prime. Happy buying

written on 24 Dec 2014

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Serenity Langkawi, my favourite place to be, yearly.

It was another of my usual relaxing Langkawi trip. Buying some chocolates which I could not find in the usual supermarkets. Strolling along the white sandy beaches, occasionally picking up the sea shells. Taking the cable car and lots of photos. Seafood in Kuah town. Cheaper than Penang! For this trip, I went to a restaurant called ‘Priviledge’ for the first time ever. Think ‘quality’ and this restaurant serves you all the right stuffs. One tip, the ice-cream is a must try. This time, we met two couples in the Priviledge Restaurant. Both from UK and both were not there for the first time. In fact, the oder couple, perhaps 55 years old have been to Langkawi 20 times. I repeat, TWENTY TIMES. The husband is a businessman and travels between South East Asia and London frequently. Why do they come to Langkawi time and again? They said, ‘it’s a calm and beautiful place’. Very encouraging words indeed.

How about me? Why do I go Langkawi once every year even though some of my friends have NEVER been there but have visited Phuket, Koh Samui and most recently Da Nang. Maybe because it’s within Malaysia and maybe because in terms of white sandy beaches, Langkawi does not lose out to any of these places. Oh yeah, I have been to Phuket, Koh Samui before and yes, I agree in terms of nightlife, they are still levels ahead of Langkawi. Maybe because I am not one who visits all these places for its nightlife.

Langkawi is still as it was, slow, steady and not many sudden developments. Recently there was an announcement about the Perdana Quay, with a GDV of RM4 Billion. This time, when I was there, the billboards for Perdana Quay was in the midst of being put up. The plan certainly seem grand and the land size involved is huge to say the least. The targets are high end luxury travellers. I am not sure how rich the two couples whom I met were. However, if the marketing is done right, using the powers and network of those who has been to Langkawi many times, I think it might just work. I am very sure, Langkawi would never beat Phuket or Koh Samui in terms of mass market appeal. However, luxury travellers is something I still want to believe may happen in the future.

If Perdana Quay is successful, well, there’s another nice place for my wife, baby and myself to take pictures at. Buying properties in Langkawi? Yes, it has crossed my mind but I know where I stand, Perdana Quay is not targeting me today or even five years down the road. My brother went to Langkawi just one month before me and my brother in law will go to Langkawi one month later. My best man for my wedding is going Langkawi next week. I think even if it does not have luxury travellers, my family would contribute to the traveller statistics every year.

written on 3 July 2014

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Seriously in debt? 69 percent due to credit cards.

First of all, try NOT to have more than two credit cards, even if you can afford them. One VISA, one MasterCard and that should be sufficient. My personal thoughts anyway. I have three currently. Need to cancel one soon. There are quite a lot of benefits for credit cards but there are harmful potentials too.

Here are some good ways to use your credit card.
The Credit Counselling and Debt Management Agency (AKPK) has helped 14,688 individuals fully settle their debts totalling RM593 million via its debt management programme (DMP) as at Sept 30, 2017.
 This is the full article in NST.
In brief, the average owed per person for these 14,688 individuals was over RM40k. They have FULLY SETTLED their debts. Kudos to these people and great job AKPK.

To those who has never been to an AKPK office before, you can drop by to get a print out of your credit score too, for free. It does not need to be due to credit issues okay. The officers are friendly people like you and me as well. AKPK helps borrowers improve their financial standing by restructuring their housing, vehicles and personal loans, including outstanding credit card balances. According to AKPK Chief Executive Officer, Azaddin Ngah Tasir, since AKPK’s inception in 2006, a total of 631,386 individuals had attended the counselling services as of Sept 30, 2017. He added, “Of the total, some 198,915 individuals have enrolled in the programme.” He shared that 68.7 per cent of those enrolled in the DMP were in the 30–50 years age and unable to pay their credit card debts.

He cited poor financial planning as the major reason for the financial difficulty and this constituted 44.7 per cent of the cases received. This was then followed by high cost of living (19.3 per cent), business failure or slowdown (14.8 per cent), high medical expenses (9.3 per cent) and others (11.9 per cent). There are even 14.6 per cent of the individuals below 30 years old who joined the DMP not because of debt problem but because they wanted financial advice. (I think they can also read
kopiandproperty.com
 😛 )

Sometimes, poor financial planning was caused by
insufficient financial awareness.

Many times, it’s caused by the easy availability of credit. When it’s easy to get people to lend us money, it’s even easier for us to spend it. Look at the foreign workers who remit so much money back home. They know that it’stough to earn money and thus they saved every bit of it.  I have a friend who worked in Singapore for 9 years. As soon as he came back to Malaysia, he was able to buy property, a car and even open his own pet clinic. He said he does not spend like many others. Well, not everyone could do it which is why if we do not have the credit cards in the first place, there’s no way that we could spend more than we have… Think about it and all the best.

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written on 11 Oct 2017

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Stay serious. It will ‘Green’ Malacca and all other cities.

I think I have written before on this. There can be thousands of laws to tell developers to behave but if no enforcement is carried out, this will come to nought. This may have happened in Melaka but it should happen in every city that we have here in Malaysia. Profit oriented is fine but never at the expense of the bigger picture or the environment. Long time ago, developers may claim they do not know but today if you are a developer it is best to be aware that the enforcement officers may be nearby and may find and fine you anytime.

In Melaka recently, a property development company is facing a fine of RM966,000 for cutting down 19 trees of more than 30 years in Melaka Raya. It does not end with the fine, according to Melaka Historical City Council (MBMB) secretary Mohd Derus Che Mat, the company was also ordered to replant the trees within two weeks. In fact the developer has already hired contractor to replant them. He said, “The state government is serious about this because Melaka is a green technology city.” For 2015, a total of RM7 million has been allocated for maintaining and planting of trees.

I love Melaka and I go Melaka on a yearly basis. However I still think Melaka city can plant more trees. Many of the popular spots are very hot due to little cover from trees and even if cars are prohibited, not many would want to walk along these roads. Planting more trees is important and therefore, any ‘clever’ developer seeking short cuts must be fined so that these felling of trees do not increase indiscriminately. Public can play the role of whistle-blower and Melaka can be truly a GREEN city in the future. Perhaps Melaka can become a FINE city?

written on 1 May 2015

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Expert Series: That SERIOUS matter about your retirement

I always think no matter how much we may earn, relying on just saving as much as we can every month is no longer enough today. Definitely not in the future when we retire. In a recent article, it was revealed that 42 percent of retirees have zero savings! I think it’s time we take our future seriously if we do not want to end up as part of the statistics. I asked my friend
KC Lau
 to give us some answers as part of kopiandproperty.com Expert Series.

1) Is the problem of retirees having no savings by the time they retire getting worse over the years in your opinion? Why would you say so?

I think the more serious problem is the inequality in the income gap, that resulted in some rich retirees being able to enjoy life much better than the poor retirees. This is a worldwide phenomenon I guess. Overall, the problem of retirees having no savings happens all the time. The situation gets worse when their next generation couldn’t support the parents’ retirement needs. I think it is the fact that the middle age group being sandwiched in between of taking care of both the elders and children, coupled with escalating living cost and societal pressure, that makes the retirement issue more apparent. It simply means that if you are a retiree now without adequate nest egg, and if you can’t rely much on your children to support your retirement, you are in a very tough situation!

2) Savings is such an important action but many did nothing until it’s too late. Do you have any special tips to ‘trick’ us to save?

A system is needed for savings. That’s why EPF is such an effective scheme to force people to save. There are many “tools” available on the market, such as insurance endowment plans, unit trust auto-debit, even mortgage installment, or just a matter of setting up auto-transfer on your bank accounts. The “trick” I know about saving is when it is lost of sight, it is out of mind. Believe me or not, try directing your unit trust statement to be sent to your relatives’ whom you only meet once a year. You’ll never spend that money and you’ll be shocked by how fast it grows.

3) What should EPF do to help at least some of them with EPF savings by the time they retire?

Most people have the problem of spending that EPF lump sum money too fast. Especially for those who have never got hold of such a big amount before, the temptation is irresistible. What I think EPF can do is to give an option to let members convert that lump sum into an annuity, guaranteed for life. For those who are enticed to opt in, their income will be guaranteed for life!

4) If I am below 35 years old, should I focus more on unit trust vis savings or should I think about property investment instead? Why?

To be frank, I see a lot of people getting rich via property investment. But I’ve never heard of anyone who accumulate a lot of wealth through unit trust investment. This shows one thing – when your money can be withdrawn anytime, easily, it probably won’t stay long. When you are young, property investment gives you the best leverage of financing, and the best time horizon for long term appreciation. So, buy your properties as early as possible.

5) If I am 40 years old or older, which investment should I focus on and why?

Good return comes from good asset allocation, comprising of diversified asset classes. But great return comes from great investment skills, which is also known as strength-based investing. For example, if you know how to identify good business selling at bargain price, it is okay to invest all your money in stocks. See how Warren Buffett does it over so many decades.

So no matter what’s your age now, investing is about putting money where you know best. If you don’t have that skill, you better brush it up. The earlier you acquire this important skill, the better you are. For your record, Warren Buffett bought stocks since age 11.

About
KCLau
.
 He is the best selling author of Top Money Tips for Malaysians. His popular personal finance blog is one of the most visited websites in the financial blogosphere. He also hosts regular and
f
ree financial training online
 (
http://kclau.com/webinar
)
 featuring different financial experts. You can follow his latest updates by visiting
www.KCLau.com
.

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Seriously, why do you need your furniture to last ‘forever?’

This article is for most Malaysians but not for the top few percent who has by far more money than they could spend yeah. This is for working professionals who believe investment is a key success factor for their future. Thus, they need to maximise the money they have with the furniture they could buy. Today, we talk about sofa sets. Not too long ago, a good friend debated with me on the price of a sofa set. I told her that my whole 3+2+1 sofa set was RM4,500. She asked me why was it so cheap. Actually, in my mind, I was thinking why so expensive since my earlier L-shaped Sofa Set + 1 was only RM2,000. She said there was one time when she bought a ‘cheap’ sofa set and it lasted just less than 3 years. Her current set was nearly RM10,000 and it has lasted her 5 years. She believe it would easily last her another 5 years or more. I know, there are definitely certain brands which is worth that much more money because it may have the massage function or even leather cover for example. Today’s let’s just talk about a sofa set with fabric cover yeah.

Well, if anyone were to ask me, then I think it is important that the furniture we buy can last many years. In fact for bed frames, I hope they could last forever. However for sofa sets, I would safely say nothing less than 3 years, hopefully. The reason I think so is because based on the value of money as well as the changing trend nearly every year, there is no need to buy something that could last forever anymore, if it costs a bomb at TODAY’s price. Why do I say so? Well, in just 5 years, that sofa set would already look ‘dated’ if not ‘jaded’ already. As for the price of a NEW sofa set then, well, it’s going to be almost the same. In fact, the prices seem to be going down too. just go to 11street.my or lazada.com.my and search for 3+2+1 sofa sets. The image shows something I search today itself from 11street.my

From the time I bought my first home, 14 years ago, the sofa set prices have stayed almost the same if not cheaper. My sofa set then? Well, it lasted me 4 years, then my tenants continued to use it for the next 4 years, somehow. Well, why did the prices stayed almost the same or cheaper? Perhaps it’s because ringgit is going down? Haha. Just a joke. Ringgit has been on an uptrend in 2017. Sofa sets are quite awesome actually. Changing just that one set itself could help improve the whole ‘feel’ of the home.  That is why people spend by far more money on the sofa set compared to the bed frame…. So, I wish my good friend all the best. She can enjoy the same set of sofa for as long as she likes. As for me, well, perhaps spending half the amount today and half the amount 5 years later makes more sense with cents. Image shows lazada.com.my with even more choices and at less than RM3,000 take a look at the sofa set that you can actually buy today. The same unit at this price and the technology was definitely not available 14 years ago. Happy spending.

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written on 25 Dec 2017

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Oh dear. 27,000 people on unpaid leave for 3 weeks. Fortunately, not within same month.

My sister-in-law told me recently that she has already used up all her annual leaves. She did not use them only for holidays. She works in a factory and her factory has had a number of compulsory shutdowns end of last year. In other words, the employees are forced to take their annual leaves and for those without any annual leaves left, then they will have to take unpaid leaves instead. It meant that their salary for that particular month will be lower than usual.

Now, imagine if the shutdown is becoming worse and that everyone is asked to take 3 weeks’ unpaid leave. In other words, the salary which one may get will be much lower than usual. Would they be able to survive with less than 50% of their monthly pay? Well, if demand for the goods and services drop, then of course the factory will have to shut down its production. Else, the losses may be even higher because salaries are a fixed cost. The situation at Cathay Pacific is better than 3 consecutive weeks of unpaid leaves.

Article in edition.cnn.com
  Cathay Pacific is asking its 27,000 employees to take three weeks of leave between March 1 to end of June. (This means 3 weeks in total within 4 months or an average of 5 days per month).  The reason for this is because of significant  drop in demand for flight caused by the coronavirus outbreak in China. Cathay Pacific says that it was slashing flights to mainland China buy 90%.  (This means that only 10% of flights will be continuing)

This is what the airline said, “Preserving cash is the key to protecting our business.”  Number of inbound passengers to Hong Kong has halved in December versus a year earlier. Besides the coronavirus threat, the airline was also forced to cancel hundred of flights last year because of demonstrations at the airport.  Its shares have lost by nearly 12% so far in 2020.
Please refer to the article in edition.cnn.com for full reading.

I think the keyword here is survival because if the number of flights were cut, then the staffs would have lesser work to do and suddenly, the airline may find itself with too many staff numbers! Secondly, we need to also know that Cathay Pacific is one of the stronger airlines in the region. For the full year of 2018, Cathay Pacific had a net profit of HK$2.3 billion (RM1.22 billion). This is a high number even if it’s lower than that of Singapore Airlines which
reported a net profit of S$683 million (RM2.043 billion)

Third is how long would this ‘wuhan’ coronavirus be around. If the peak is really coming and we start to see better progress; more people released from hospitals, then the impact may be confined to just Q1 and perhaps Q2. If the situation continues to be bad until end of Q1 for example, then I think the current 3-weeks unpaid leave order may not be sufficient. Let’s wish everything will be back to normal soonest. Please take care and if we have high fever, please stop staying at home and doing nothing.

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Seriously, when there are just too many malls….

In an article in The Star by Reuters, it painted a bleak picture for the malls in Shanghai. It gave many examples of empty malls and one dress shop owner said that she could not even sell one dress per day! According to official data, the retails sales have shown a sharp rebound but the vacancy rates are rising and rents are plummeting in many Chinese malls. Some of the reasons include rising online competition and many poorly managed properties. Due to the low number of visitors, cash flow of mall owners and developers are suffering and this is a risk to the economy which is already growing at its slowest pace in decades.

Some major malls are undergoing restructuring including Dalian Wanda who said it will close or restructure 30 retail venues. Our familiar Parson which operates more than 70 department stores in China has already closed several of its stores in northern China last year after a 58 percent drop in net profits from China in 2013. Just last week, China has cut interest rates for the sixth time in less than a year. (Yes, this has also caused Ringgit to drop further) Not all are dropping. According to statistics, movie ticket sales hit a new record of nearly US$300 million during one single holiday week in October and this is up 60 percent compared to last year. CBRE said that many of the new malls being built is not likely to product good returns to their investors. According to a joint report by the China Chain Store Association and Deloitte the total number of China’s new malls is projected to reach 4,000 by end of 2015 and this represents a 40 percent jump from 2011.

According to many recent reports, there are huge numbers of malls coming up within Klang Valley alone. Read here:
Malls, malls, malls everywhere, rate of survival?

How many can survive if the consumption from the shoppers do not increase? The bigger and established ones would continue to do better than newer and smaller ones simply because of existing visitors and also the reluctance of some owners in expanding under current negative sentiment. Not many would want to share the risks with the new mall owners. Already businesses are not easy. Read here:
Tough to do business these days; malls are too many

Of course, if there is a regional mall around your area, it is important to give it support. Else, when it closes, it will also reduce the premium in our area too. Happy visiting malls.

written on 26 Oct 2015

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26,000 needed but building 86,000 units? Oops.

An interesting piece of news from a local English daily in Malaysia. According to Iskandar’s Comprehensive Development Plan 2006 – 2025, a total of 26,000 units of serviced apartments are needed for south Johor. How many is being built? Based o the approved ones, 86,000 units. Do not smile, yes that is an excess of 60,000 units being built. Fortunately, these 86,000 units will not be flooding the market anytime soon. It will be built from today until 2025. Perhaps by then, the 26,000 requirement would have been adjusted much higher. Oh yeah, according to the Menteri Besar of Johor, all new applications are now frozen but those approved earlier are allowed to proceed. Yes, in other words, total units would remain at just 86,00 units until further notice.

Assuming you are a developer and you have access to this data with regards to demand and supply, what would you do? Well, if you are really able to sell it quickly, then you would build it as quickly as possible. As for those who can wait because their land premium is very low, I think they would be postponing their project or even send in a fresh application for different type of development. So, if it is true supply is going to ‘kill’ the market, it is also true that developers would not just stand there, continue building and ‘kill’ themselves when nothing could be sold or the prices falling down as soon as they completed the projects. I am not so sure if any developer would love to be in such a situation. This is why I think there would always be some truths to demand vs supply. Especially, from the demand side. It’s much more manageable.

Oh yeah, do note that serviced apartments are NOT the same as apartment units. Apartment units are under residential while serviced apartments are not, thus, there are much more leeways for such units. Building residential units meant more rules and regulations to follow. I never not yet come across any serviced apartments which to me is a well maintained one. Most of the time because the owners may not be staying there, the maintenance will be tough for the management and the outstanding payments are normally huge. After all, if they are not staying there, even if you disable their entry card, it is still ok. The owners can always come in as visitors instead. I do hope that majority of these 86,000 units may just prove me wrong and establishes a market for serviced apartments in Iskandar.

written on 14 Dec 2014

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Setapak condo choices: RM400k – RM500k

A reader wrote in to ask me about PV6 in Taman Melati, Setapak. It’s a condo of 1,328sf and prices range from RM550,000 – RM600,000. Price per sf is thus only RM414 – RM451. Looks attractive, right? Now do you understand why I still think the secondary market is worth considering, especially if you are looking for your first home sweet home? Nevertheless, the key is always maintenance. These are some tips on inspecting them:
12 inspection tips on buying secondary properties

Since affordability is the most important factor, I extended my search in propertyguru.com.my to include other condos in Setapak which are between RM400,000 – RM500,000 in Setapak. The results showed that availability is still there.
Perhaps one thing which is holding many buyers back would be the fact that some of these condos are no longer looking new. The external paint has started to show aging effects. Many times, Setapak is also viewed as a place where students stay and thus the roads are jammed, parking is tough to find and more. Well, let me be honest, jammed roads and tough to find parking spaces happen in many places too. I have failed to find a car park in TTDI nine out of ten times that I am there in the evening. Haha.

Take a look at some of the other available projects. The prices per sf is definitely not something you see in the new projects, not even after the new projects provides to you good rebates. As for Setapak as an area, let’s be very clear here. Density is high and congestion happens most of the time. If this is like a Desa Parkcity, surely, the prices would be closer to it. However, this is definitely not a place which is further away such as Kajang or even the place I stay today, Damansara Damai. Thus, in terms of location distance from the city centre, Setapak fits the bill. Question is, does it fit what you are looking for. Happy searching for your first home sweet home.

written on 26 July 2015, updated listings on 18th Oct 2016.

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Setapak as a residential choice? Condo or Landed.

Secondary property choices in KL are still available. A friend staying in Setapak told me that if she leaves office after 530pm, it is better that she continue working and leave after 8pm instead. No idea which part of Setapak that she is staying but I know that Setapak is a pretty popular area for students. This is because Universiti Tunku Abdul Rahman (UTAR) is there. It is located just 8 kilometres away from the KL city centre. In other words, during non-peak hours it’s just around 10 minutes away. Setapak is not a new neighbourhood. Thus, it has low cost flats and even newer developments. One latest one would be SkyWorld Development Sdn Bhd’s Bennington Residences @ SkyArena.

What are some of the secondary condos available there? Well, I prefer a minimum size of 1,000 sq ft or higher and preferably below RM500,000 so as to be affordable enough for a family of 4. Seriously, the sub 1,000 sq ft or even the SOHOs are definitely suitable only for singles or couples without children.  Here are some of the available choices as per iproperty.com.my  Based on the size vs the price, Setapak does present some good opportunities. Yes, the jam needs some getting used but there’s also a LRT station for those who choose not to drive. Seri Rampai station.

In terms of malls for groceries, there are Carrefour, AEON, the Giant hypermarket, Wangsa Walk and the latest one called Setapak Sental. Many expressways connect Setapak to the outside world and they include Duta – Ulu Kelang Expressway (DUKE) and the Middle Ring Road 2 (MRR2). A check with propsocial.my would reveal an overview of Setapak for our easy reference as well. Check out the screenshot and if needed, feel free to check out more information as
propsocial.my

For those who must have landed properties, Setapak’s choices include the following too. I attached a screenshot from some of the available choices from
property guru.com.my

Again, these choices are definitely not going to be available in the many typical hotspots that everyone loves. Anyway, to be very honest, we have to get used to the environment as well. This is something I would advise those who wants bigger and better for lesser. Think secondary instead of only the hotspots or new developments. Happy deciding.

written on 24 Nov 2015

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Setia City’s first high-end high-rise residential

I like Setia City Mall. Read here:
Set City Mall, a mall I like, more than Paradigm Mall
  However, I am not yet prepared to travel daily from Shah Alam to my working place in downtown Kuala Lumpur on a daily basis. Added to that would be the fact that I would prefer a gated & guarded if I am buying a landed but the price is now pretty high. Travel further and paying more does not make sense to me even if I like the environment. There is however another new choice for those who prefer high-rise living instead. Within the Setia City, Setia Alam is the upcoming Setia City Residences. It will be the first high-end high-rise residential project.

This project forms part of the SP Setia’s integrated development, Setia City, in Setia Alam. The launching is likely to be in the fourth quarter of the year. Set Alam has a gross development value (GDV) of RM16 billion in 2004. That’s already 11 years ago which meant that the township is already a mature one and that’s why everything seems to be in place already. Thus far a total of 60% of the township has been developed. Statistically, within the 2,525-acre freehold township, SP Setia has sold more than 16,000 units worth RM6 billion and has completed more than 12,000 units to date. I think it is safe to say that pricing would be slightly premium but as usual, a well planned township is always a better bet for families. As for paying extra, that’s a preference for the individual.

Setia City Residences has a GDV of RM500 million and sits on a 5.77-acre land next to its retail component, Setia City Mall. It is a serviced apartment and will have three 35-storey towers; Adora (tower A), Bella (tower B) and Carra (tower C). Every tower would have 260 units with built-ups ranging from 858 to 1,207 sq ft. Current targeted selling price starts from RM650 psf. The price is  definitely a premium but right next to an established mall? Well, not many place would offer this. Again, buy objectively based on what you need. We should not be buying simply because there is a mall next door. How many times do we want to keep visiting that same mall and same retail shops day in and day out? It will have a direct elevated walkway into Setia City Mall.

Design wise, it is quite interesting. The design and planning of the facilities floor were inspired by natural terraced hot springs and travertine in Pamukkale, Turkey. The swimming pools are divided into three terraces. The top pool is for swimming. The second terrace is for relaxation, where a thermal spa and sunken lounge spots are provided while the third is the wading pool for children. There would also be other facilities such as a yoga lawn, spiral skyway (elevated walkway), barbecue pit, playground, multipurpose hall, tennis court, forest pools, floating river, garden, parcourse, function lounge, reading room and nursery. Interest is there it seems because Setia City Residences already have over 2,000 registrations since it was opened second quarter of last year. Note that this is an area known for landed and not or high-rise thus far.

I have not registered for a unit but would definitely drop by to take a look. Can visit a friend who’s staying there too and perhaps have dinner in Setia City Mall. Well, life is always about friendship, coffee and property, right? Happy reading.

written on 9th Oct 2015

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Press Release: Setia Awan-Brezza Hill: Nature and Progress In One

Setia Awan’s first Klang Valley venture overlooks the Kuala Lumpur city skyline

Encapsulating a peaceful and harmonious lifestyle, Brezza One Residency, which is located  in the 22-acre Brezza Hill hillside enclave, is a 4.56-acre condominium development that offers  residents with a unique and serene home concept. With close proximity to the green forest  reserve on one side, and a mature city lifestyle on the other, Brezza Hill’s strategic location  nearby the Ampang Lookout Point also offers panoramic views of the Kuala Lumpur city  skyline from an elevation of over 280m above sea level.

A Northern Expertise

Located within 10km radius of the Kuala Lumpur city centre, Brezza One Residency is the first  Klang Valley project by Setia Awan, a Perak-based developer with a well-established  presence in the state. Over the past years, Setia Awan has also expanded its market-driven  and innovative offerings in Melaka and Negeri Sembilan, and its ongoing projects have an  overall gross development value (GDV) of over RM3 billion.

The Best of Both Worlds

At the 4.56-acre Brezza One Residency, every day is a healthy dose of tranquillity and  serenity, as it is surrounded by the natural highlights of the famed Bukit Ampang and Hulu  Langat Forest Reserve which are known for their organic beauty and recreational activities.

First launched in Q4 2019 and with an estimated completion date in Q2 2024, Brezza One  Residency has 4 building blocks with 660 home units ranging from 1073 to 1953 sq ft in size.  With its selling price that starts from RM 654,800, the condominium has witnessed  encouraging take up rates for its 4 blocks. Blocks A and B, which were launched in Q4 2019,  have take-up rates of 96% and 92% respectively. Block C and D, which were launched in Q1  2021 have take-up rates of 55% and 76% respectively.

With a GDV of RM527mil, Brezza One Residency not only offers a perfect union between  nature and urban lifestyles, but also the convenience of getting to these areas with the upcoming SUKE highway (which is only 5 minutes away from the Brezza One Residency) that  further links residents to 14 other interchanges.

A Life of Convenience and Ease

Additionally, the condominium is only 10 km away from the KL city centre and near to other  conveniences, including primary and secondary schools, universities, hypermarkets, golf  clubs, public transportation and also shopping malls that are easily accessible within 5 km.

In terms of internal facilities and amenities, residents can enjoy the spacious Brezza Park,  which is built based on a theme park concept, that is designed to cater to a multitude of  activities through its facilities such as rock-climbing spot, children outdoor gym and hopscotch,  reflexology path, seating cabana, yoga/ tai chi deck, hanging bridge, water fountain and many  others. The ground floor podium offers more sports and recreational options like pools, jacuzzi  cove, squash court, games room, sunken/floating deck and other facilities. There is also the  sky garden, where residents would find the viewing deck, sky lounge and hammock garden.

“Brezza Hill is built with a vision to offer an everyday escape from the hustle of the city life. The urbanites move fast and hard, cultivating a lifestyle which might not be ideal for those who  prefer more peace and quiet. Brezza Hill is surrounded by natural green pockets and is only  within 10km radius from the heart of Kuala Lumpur city centre,” said James Bruyns, Head of  Sales & Marketing Setia Awan Group Central Region.

With a mission to make home ownership more affordable and accessible to people in the  Klang Valley, Setia Awan will also be launching Astrum Ampang, a new 6.75-acre mixed  development located at the fast-growing vicinity of Jalan Ampang and Jalan Jelatek.

Leveraging on the country’s first SOHO transit development concept, Astrum Ampang is  affordably priced from RM230,000 onwards per unit. More details on Astrum Ampang will be  revealed within the coming months.

For more information on Brezza Hill Residency, kindly visit
www.brezzahill.com
 .

-End of Press Release-

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Sky’s The Limit for Setia Awan – Developing With A Purpose

Press Release: Sky’s The Limit for Setia Awan- Developing With A Purpose

Ever since the turn of the millennium, the property development scene in Malaysia has witnessed a massive transformation that has steadily contributed to the nation’s growth and advancement. For over three decades, Setia Awan Group’s property development arm has played its role in this advancement to make great strides in the arena within several states in Malaysia.

With its headquarters in Perak, Setia Awan has a well-established presence in the northwest state of Peninsular Malaysia. Apart from Perak, the company’s projects in Melaka, Negeri Sembilan and their latest developments in Kuala Lumpur, are also well sought after for their market-driven and innovative factors. Cumulatively, Setia Awan has a total gross development value (GDV) of over RM3 billion.

The Group’s Secret to Decades of Success

For over 30 years, the areas of Seri Manjung, Sitiawan and Pangkor Island in Perak have been experiencing high growth due to a multitude of factors — increase in investment, the setting up of Lumut naval base, big infrastructure projects and undoubtedly project developments that cater to the demand for housing and other services.

Throughout the visible growth, Setia Awan has been one of the crucial players that have directly contributed to the growth of two major hotspots in the state. With a humble beginning, the visionary developer started with pocket projects around Sitiawan and Seri Manjung, which became a crucial foundation for the developed districts they have become today. Their secret to success is simple — by keeping their projects affordable, practical and functional, Malaysians will have access to reasonably priced developments that will encourage more home ownership.

As one of the current leading property developers in Perak, Setia Awan has continued to further develop the areas by building multiple townships with thousands of residential units, and commercial and retail buildings that have enabled both Sitiawan and Seri Manjung to bustle with economic activities and job opportunities.

“While we are considered young in the property development sector, Setia Awan has found continued success through the company’s core values of innovation, sustainability and quality. Many of our homebuyers and customers trust in our capabilities to ensure that our properties are designed to create quality lifestyles, while also offering sustainable commercial value for our stakeholders,” said Ng Teck Hua, Executive Director, Setia Awan Group Central Region.

Expanding their Expertise Beyond the Land Of Grace

Within the last few years, Setia Awan has also expanded its expertise in property development further to Melaka (Sri Melaka Residensi) and Negeri Sembilan (Kemayan Heights S2).

More than these southern states, Setia Awan has also seized the opportunity to expand into the nation’s capital with Brezza Hill Residensi, its first project in Kuala Lumpur which is surrounded by gazetted forest reserve with a skyline view of the KL city.

“Over the past few years, we have noticed a gap within the Klang Valley’s property ownership prospect that has made it almost impossible for a majority of the population to own a home in the big city. With our new and upcoming projects in and around Kuala Lumpur, we hope to be able to help homebuyers by building and delivering quality yet affordable homes located strategically close to modern amenities,” Ng added.

As the developer’s second project venture in the Klang Valley, Setia Awan will also be launching its new 6.75-acre mixed development, Astrum Ampang, which will consist of mostly residential components and is situated within the fast growing vicinity of Jalan Ampang and Jalan Jelatek.

Connected to the Jelatek LRT station, Astrum Ampang is built with the Transit-Oriented Development (TOD) concept, which is the first-of-its-kind concept in Malaysia. With this concept’s introduction, working adults would be able to afford a residential property in the city whilst having ease of access to public transportation.

The sight of working adults in their 20s being able to afford a place to call home in the big city has become very uncommon due to many factors including high living costs. In light of this, Setia Awan aims to be a game changer in Kuala Lumpur’s property scene by offering sensibly-designed homes that suit the needs of the young working class in the urban city, and thus bringing affordability back on the table for city developments.

The SOHO transit concept has a built up area of 280 sq ft and is affordably priced at only RM230,000 per unit. Slated to be launched in Q2 2021, more details on the Astrum Ampang project will be revealed within the coming months.

For more information on Setia Awan’s latest updates and series of project developments, visit

www.setiaawan.com
.

-End-

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Setia City Mall, a mall I like, more than Paradigm Mall.

Last month, i went to Setia City Mall in Shah Alam. Was there for over half a day, finishing with dinner. I told my wife then, this mall is better than Paradigm Mall, which was right next to our condo in Kelana Jaya. She agreed. In fact, even the toilets in terms of cleanliness and design is better in Setia City Mall when compared to Paradigm Mall. The overall layout is also friendlier somehow. I do not know the size but I think both are almost equal in size. The two things which I prefer more for Paradigm would be the distance (even if I walk, it’s just 5 minutes) and also it has Tesco which my wife frequents often. Yes, Setia Mall has a supermarket too but I think majority would say Tesco is cheaper.

Thus, when I read about them winning a world award, I must write about them. Yes, Setia City Mall, Malaysia’s first eco-friendly shopping centre won GOLD AWARD under the retail category at the world level 2014 FIABCI Prix d’Excellence Awards in Luxemburg. Some additional information about Setia City Mall includes over 740,000 sq ft of net lettable space and its a four storey mall. The mall It is situated in Setia Alam township by SP Setia. This was not the only award for it. It has also won the Malaysian Green Building Index Silver Award as well as the first shopping centre in Malaysia to win the Singapore Building & Construction Authority Green Mark Gold Award. It was also the winner for The Edge-PAM Green Excellence Award and the Fiabci Malaysia Property Award (retail category) in 2013.

There, now you know if you stay in Shah Alam, you have a world class mall, even if it is not those regional sized ones just at your backyard. Actually, even if you stay in Shah Alam, there’s nothing to stop you from dropping by during one of these weekends. Yes, you can even have your picnic there too and running around with your kids or better still fly your kites there. Quality family time. I think this is something the award may have missed. The environment outside the mall. It has lots of greenery and huge space just for you to laze around. The only downside is that since it is Malaysia, don’t do it when the hot sun is shining. I think my next trip there would be soon and this time, will tell my wife about this pleasant piece of news. When I move to Damansara Damai, it will be harder for me to visit it in future. Just a little too far.

written on 22 May 2014

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Setia Eco Templer, Rawang. Registeration opens.

Do you think Rawang is considered accessible in terms of duration? Okay, if you really want to know, the distance is 25km away from KLCC,Jalan Ampang. Take alook at the google map image on the side. This brings us to SP Setia’s new 194-acre township in Rawang called Setia Eco Templer. Total gross development value is RM2 billion. The township is located on the former site of Perangsang Templer Golf Club in Templer Park, It will be a mixed township featuring linked villas, semi-detached homes, bungalows and affordable apartments, with a grand clubhouse to service residents’ leisure needs.

The number of residential units would be 1,800 of which 900 units will be affordable homes ranging from RM42,000 to RM250,000. Take a look at the image from its project website. It’s surrounded by gazetted forest reserves – Templer Rainforest Reserve and Kanching Rainforest Reserve. SP Setia will also be building a new interchange connecting Setia Eco Templer directly to Jalan Ipoh. According to its President and CEO Datuk Khor Chap Jen, “As with most of S P Setia’s township development, we always ensure that good infrastructure is put in place to deliver better connectivity and convenience for our purchasers. This interchange costing about RM25mil shall be completed upon vacant possession of the first phase of Setia Eco Templer,.

Much earlier when I chose my current condominium in Damansara Damai, my wife said
Rawang is ‘far.
‘ When I asked her again this evening she said, ‘sure, let’s take a look.’ Oh yeah, if you would like to register, do go to their project website. Beyond registration, we could not do anything else. Haha. No photo galleries or videos etc. Perhaps I may see some of you there. As usual, for branded developers, do expect to pay some premium but reputable developers would also provide that assurance compared to an untested one. No such thing as which is better. Choose the one you love and BUY. Their gallery address can already be found in Google Map and Waze. Good online readiness indeed. Happy thinking.

written on 26 Apr 2016

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Seven highways starting next year. Thats means, MORE TOLLS in future. :)

In a news report in an English medium newspaper, it was reported that SEVEN new highways would be starting work next year, 2015. These are only for Klang Valley. They are as follows: RM1.18bil Duta-Ulu Kelang Expressway (DUKE) extension, the RM5.04bil West Coast Expressway (WCE) from Banting to Taiping, the RM2.5bil Kinrara-Damansara Expressway (Kidex), the RM1.5bil Kuala Lumpur Outer Ring Road (KLORR), the RM4.18bil Damansara-Shah Alam Expressway (DASH), the RM4.3bil Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) and the Serdang-Kinrara-Putrajaya Highway (SKIP). Sometimes, the abbreviations just make you laugh but humour aside, this meant that the expectations are that there would be more people in terms of new population and more cars on the roads. Quite an exciting period indeed for those who has bought properties which are well linked by expressways.

Works Minister Datuk Fadillah Yusuf also said this about KIDEX.  “If you look at Kidex, the promoters have received the feedback from the public for realignment … with the information, we now need to sit down and evaluate how to proceed with the project,”. If we look at this statement alone, I think the chances that KIDEX will proceed is extremely high. KIDEX was a highway which faced heavy objections from the public staying along the route. You can read my earlier article on KIDEX here.
KIDEX off? KIDEX on? More expressways on the way.

Image Source: http://www.mkenology.com/2014/07/map-of-proposed-highways-in-greater.html

For those who are thinking about buying stocks of construction companies, the Minister said that the industry is expected to continue its double-digit growth due to the ongoing construction activities from both the private and public sectors. Overall project value? RM110 BILLION. In terms of stocks to buy, RHB likes GAMUDA as it is a proxy to the Klang Valley MRT project. Do note that GAMUDA was also mentioned as one of the potential bidders for Penang’s Transportation Masterplan a few months ago.

CIMB meanwhile said that “Expectations are still high for Muhibbah Engineering Bhd securing packages in the Refinery and Petrochemical Integrated Development project in Pengerang, Johor. While still skeptical, investors were eager for the high-speed rail updates and keen to hear our opinion about YTL Corp Bhd’s advantage,”. Again, note the word ‘skeptical’ and ‘eager’. Sometimes, it’s very funny because if you are skeptical, why are you so eager? Well, just look at the Facebook comments. MANY said the household debts in Malaysia is way too high. Yet, MANY are still so positive about property investment. Great, ‘skeptical’ and ‘eager’.

Personally, I continue to like secondary market at least for the next 12 months because I think it will continue to be slow. As for the new launches, I think the prices may not rise as much as previously but average prices, without much doubt would continue to rise for now because the owners of luxury properties may not be willing to part with their property for lesser profits while the secondary properties, for those below RM500,000 ones are likely to inch up bit by bit as those needing a home buys one. Happy investing or waiting but not speculating.

written on 20th Sept 2014

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