Panic buying need not be for essentials…

Before you ask, it does not need to be toilet paper too, okay? It may just be fast food but that has passed. Even Gardenia bread craze? That’s over too. Now I could find them nearly every time I am at the convenience store. However, today we look at a another ‘essential’ the Bubble Tea. Wait a minute. Repeat that. Essential?? Yes, this is definitely an essential good because it generated a panic queuing for it in Singapore just a day before most of these stalls have to be closed.

Article in malaymail.co
m

 Article quoted someone who heard that standalone bubble tea outlets will be closed until May 4 or longer, the person decided she must go and get one last sip of her favourite beverage. When she arrived, the queue was already very long and in fact some were sold out and in the end, the person had to buy from a shop which was “less than popular.” Even this shop, there were already queues and she only got her drink after 15 to 20 minutes. She said, “It’s a staple comfort drink, like eating ice cream for me. I don’t know how long I will have to wait to be able to have it again.”

The article shared a lot of other outlets which were also swamped by people. Photos and videos of long queues became viral after Singapore Prime Minister Lee Hsien Loong announced in a live address to the nation that the circuit breaker to limit movement of people was extended to June 1 and more businesses selling non-essential items will have to close to arrest the spread of the coronavirus. Please do refer to the full article here for even more details about how determined many of these were to get their bubble tea before it closes.
Article in malaymail.com

The lesson I learnt from this? First of all, not to think of bubble tea as an essential good in my life. Yes, I do drink but if it is to be closed, I am fine with just drinking my iced coffee at home. Secondly, to really think about the risk that I would expose myself just because I needed my bubble tea. There was a reason why the Circuit Breaker was initiated in the first place by the government of Singapore, right? I am very sure it was not because everything was still normal.

When it comes to the investment world, the days when someone tells you that it’s the last few units, do you proceed to invest? Well if you have evaluated it earlier and have spare cash, maybe. However, seriously, if it is the last few units, it meant that this person selling you would soon be out of job. There will definitely be opportunities in the future.

Another thing we learnt is this. When that most popular brand is already closed, people will go to the second and then the third. This tells us very directly. That most famous and popular area may already been fully sold but the area next to them is still available. Many more people who wanted to buy in that most popular area may also consider this area next to them. So if you buy the area now, chances are more people will also be buying into it too because the most popular area is not longer available…  Happy understanding and ordering your favourite bubble drink yeah.

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Panic selling can only happen when businesses are hit hard

Buy something to live in, not for speculation because the latter is like gambling. This was what Hong Kong’s third-richest man,
Lui Che-woo advised in an article in South China Morning Post here.
  I think his advice is a sound one. 🙂  In the same article, investment bank CLSA has predicted that property prices would drop 15 per cent over the next 12 months in the face of rising interest rates, a slowing economy and depreciating yuan. Besides CLSA, two other banks; Citibank and UBS have also predicted a sharp downturn. Property consultants Knight Frank said that Hong Kong’s home price growth would decelerate in the second half due to government intervention and external uncertainties.
Do refer here for the full article again.

As for the potential for panic selling, I think another article in South China Morning Post may have summed it up best.
Here’s that article.
  The writer says that despite all these warnings of a correction, it will be hard to see price of prime property in Mid-Levels or other core districts in Hong Kong drop, all because of the limited supply. Thus, a price correction, if it happens would be in areas like Tung Chung and other outlying districts further away from the city centre. He said that there will be no panic sell-off unless the economic slowdown hits businesses hard and cause job losses. This is when millionaires in Hong Kong lose their fortunes overnight. This will be the only reason for property prices to fall and this may include the core areas. Without these, then only the weak will sell in panic.
That article can be referred here.

Much earlier, remember there is
now a huge number of unsold units here in Malaysia?

Despite all the unsold units, there will be no property bubble bursting. Truth is, property bubble bursting is essentially a sudden substantial drop in property prices and this happens ONLY if the owners of units suddenly face problems in paying for their mortgages. Here’s an earlier article:
Potential for property bubble bursting, signs to look out for
Again, when the market slows down, we can already see that the popular areas would still see firm selling prices. Main reason is due to
location supply scarcity. (click here for earlier article)
 In brief, there’s just much more demand than there are of supply for many of these mature neighbourhoods; hotspots. In conclusion, waiting for that one property which everyone is also waiting is usually not going to be productive. Happy viewing.

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Panic selling may still not work. Sometimes, just decide and move forward.

A few months ago, an owner told my friend who is a Real Estate Negotiator that the lowest price he would ever let go is RM1.5 million. After some research, my friend pointed out the fact that the lowest price in the market at the time was RM1.25 million and even showed him the actual advertisement. The owner replied that his home
was by far better since it was renovated.
 I
t was a newly completed property and the owner had just completed renovating it, believing that it should sell higher. Anyway, a difference of RM250,000 meant that it was impossible to sell the property at the time. There was only one offer at RM1.3 million at the time which the owner rejected as too low. After trying for some weeks, my friend did not pursue it further. He wished the owner all the best. Yesterday evening (7th Nov 2017), the owner called him and said he was willing to sell at RM1.3 million. No reason was given but after some checking, my friend came to know that this owner’s home was affected by the recent flash flood.

As usual, my friend did some research and found out that there were still a couple of units in the market with almost the same price and some at lower price range. In fact, the advertisements were a few weeks old which meant that perhaps the other owners may also be willing to sell lower today. My friend told the owner that he needs to consider selling lower. Else, it
 would take sometime to sell.

When asked if he needed money quick, he said,’No.’ My friend then advised him that he will still put up advertisements online and the owner can just hope for the best. Frankly, it will not be easy to sell because at RM1.3 million, it would have to wait for the other similar properties at lower prices to be sold first. This is the market demand versus supply. Of course, I think the owner regretted his decision not to sell earlier.

There are
circumstances beyond our control
 but there are certainly many things within our control. For example, if the owner had sold earlier, the money could have been used for other investment purposes too. Many times, if we just take a step back and be logical about it, we can decide better and clearer too. Assuming I am a buyer today, in this current market environment, I hold slightly more power. A seller may have lesser negotiation power but hey, if he could identify another opportunity, he could quickly sell and then become a buyer instead! I think another way is to push for rental but for a residential unit at RM1.3 million? Logically, it will be tough, regardless of the market situation. Even expats from MNCs, their companies do not usually rent RM1.3 million properties for their staffs to stay. Panic selling does not mean that it will work, (unless it is really very low). Sometimes, it’s best to just decide. Happy scouting for good deals today.

written on 8 Nov 2017

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Good Coffee Day by Pantai Sentral Park. Interesting.

A few months ago, a marketing manager of a public listed developer asked my opinion about an event that she wanted to do. My advice was very simple, it should be something different instead of the usual. No doubt, inviting property experts to share on certain topics of interest are normally successful. How about trying something even more different? There’s one invitation that I received just days ago and I think it’s a good one. It’s something I personally like, coffee.

Yes, the project, Pantai Sentral Park is worth a look too, especially for those who wanted to get one for own-stay and is working in KL City centre. Take a look at the image. Coming back to the invite. It will feature the 2015 World Barista Champion, Sasa Sestic. The Coffee Man, a feature-length documentary that takes a look behind the scenes of the coffee industry and shows Sasa’s passion for coffee that even takes him to the source of the coffee bean in Honduras, Colombia and Ethiopia.

Right after the show, visitors would be able to join a special Filter Coffee Workshop. It will be by the 2008 Sydney/NSW Latte Art Champion Tristan Michael Creswick. He will share with you his knowledge about the craft of coffee making, the correct use of the equipment and all the little details that make a good cup of coffee. Details as per image. For those who are interested, do contact the names shown on the card itself. I have no idea how many participants they could take so for those who managed to register, please enjoy! Too bad, I am in Penang to visit my sister who has just given birth and will have to miss this event.

I do hope I get an invite to more of these out of the ordinary events. Hint, Hint developers who are reading this. Keep doing more of these interesting events. Malaysian developers are innovators, okay?

written on 16 May 2016

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Pantai Sentral Park Secoya Residences at RM780 psf

Reported in The Star on IJM’s Pantai Sentral Park development. The first phase Inwood Residences was RM100 per sq ft lower and second phase called Secoya Residences is now at RM780 per sq ft. Phase One (Inwood Residences) has been fully sold, for the non-bumiputra units. Pantai Sentral Park is a 58-acre integrated development right next to a 200-acre forest called Bukit Kerinchi.

Its managing director Edward Chong Sin Kiat said the market remains challenging but the demand is still there. In fact he said something really true. “Customers are more selective now when it comes to the pricing, location and unique selling point of the houses.” However, he said that IJM is doing its best to offer a price that was appealing enough to buyers even though the construction costs have risen. IJM Land is targeting to sell all the non-bumiputra units for Secoya within one year. It offers units with sizes ranging rom 1,050 sq ft to 1,670 sq ft. The main attraction is that the location is considered prime an there’s a 200-acre forest right next to it.

I still think for these homes which are above the usual middle class, the target is at least those married couples whose combines incomes are at least RM12,000 or higher. Even for these couples, buying such properties would meant both of them cannot be driving any luxury cars. Here’s an example of how much the couple may have to pay on a monthly basis.
I put the loan at 80 percent to be conservative because there has been numerous cases where banks are giving only 80% loan for some applicants. If the buyer is able to get a 90% loan, then the repayment is RM3,830 instead. Another RM400 extra. Please do note that besides this, the buyer would also have to pay maintenance fees too. According to The Star, the maintenance fees are 35 sen per sq ft which meant that even for the smallest unit, it would be RM367.50. Buying for own-stay should be an enjoyable one as long as one is not paying through the nose. Happy deciding.

written on 21 Sept 2015

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Paparich

I am a papa and I want to be rich, so I go to Paparich? 🙂  Actually I have never liked Paparich. Yet somehow I have been to Paparich for many times. Old friend’s gathering, Toastmasters’ meeting and most recently, it was the more affordable choices amongst all the typical RM30 per person kind of restaurants. I was at Citta Mall. There are two things I have always love in Paparich though. Their organic soya bean which is really not sweet and yet very nice, very real. Second thing which I like is the Papa Mee Goreng. Their nasi lemak is so-so, their dry curry mee is very so-so but their mee goreng, that’s quite good. Just do not compare to those from your favourite mamak stall please.

This time, instead of soya bean, I ordered their Tea Latte which is supposed to have three layers but I think from the photo, you can see that it has just two layers. The taste…. is really so-so. Sigh, another no good thing from Paparich. Their white coffee is also very average to me, especially if you compare to Old Town White Coffee’s white coffee. Sorry, nearly forgotten, I also love their steamed bread with kaya and butter and they use really good butter which is one piece instead of those which looks more like margarine than butter. Would I go again? The answer I think is yes. Somehow Paparich always happen to be at the right place at the right time and I am a papa who loves to be rich!

written on 1st Jan 2014.

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Paradigm’s Asset Enhancement Initiative. What is that? :)

Updated on 9 August 2018. Previous photos replaced with official ones from Paradigm PJ.

When I first moved to KL over 5 years ago, Kelana Jaya was my home for over a year. Thus, Paradigm Mall was where I go to more than twice every week. It was just opened then. Whether it’s food or grocery, it was so convenient. In fact, I walked there a couple of times from my place in Kelana Puteri. Today, it is still holding its own against nearby malls such as Tropicana City Mall (7.5km away) and Atria Shopping Mall (4.8km away). According to
an article in edgeprop.my,

Paradigm Mall PJ
 will be undergoing its first asset enhancement initiative since it opened its doors in May 2012. Basically this meant that there will be new tenants as well enhancements to the shopping experience. The first phase will be
completed by Oct 2018 while the second phase is scheduled to complete by next year.

There will be
the addition of n
ew eateries and a food court at level LG, an expanded alfresco dining area at the Boulevard on level G and even reinvigorated entrances as well as better accessibility and flow. Beyond just these new additions,
Paradigm PJ will be zoning the tenants according to their specialty. What this meant is that t
he entire level LG will house supermarkets, F&B and services outlets while level CC will be for local fashion, bags and leather goods, time pieces, and jewellery. Level UG
will be transformed into a beauty and wellness zone. Level 1
will house stores related to home and living, digital, kids entertainment and toys, while fast food, gifts and souvenirs, bookstore and sports will occupy level 2; the cinema will remain on level 3. Beyond just these zoning, the car
park will get guidance system and improved lighting. The mall’s facade will now have a
newly installed LED screen.

There were 19 new brands in Paradigm PJ. They include Gong Cha, Go Noodle, Original Classic, Old Town White Coffee (24-hours), Puma, ViQ, Aibi, Milky Way Playspace, U Mobile, Sorella, Felancy, Aphrodite, Tai Croissant, XES Signature, One Roast Kitchen, Luvbite, Rampage Ultron, Funkids and Trinity. Beyond just these, there will be new additions in the second half of this year too. They include
KFC, Sushi King, Aroi Thai, Sepiring, Sukiya, Toast Box, Canton Kitchen, Ipoh Ais Kopi, KD Hong Kong, Liang Sandwich Bar, I Love Yoo, Nam Heong Ipoh, Chatime, Cuckoo, Itsu, G-Shock Store, I Care Dental, KB Fun, Jac’s Optometry, Mr DIY, Shake Shake and the mall’s first and only food court, Food Arcade.
Nam Heong is definitely a plus even if it cannot beat the original restaurant in Ipoh. No idea if there would also be queues like the other Nam Heong in Starling Mall.
Here’s that full article in edgeprop.my again.
 Happy visiting.

written on 6 Aug 2018

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204 units of terraced homes new launch? 100% sold out. RM479k – RM684k

A young REN (Real Estate Negotiator) told me this the other day. “My client said that he will not buy a property until after the general election. He is worried that his investment will turn bad if the result is not up to his expectation because if the wrong party wins, then Malaysia’s economy is finished. He will migrate to Macau if needed’  Let me be direct. Regardless of the party that wins, I seriously think Malaysia has many advantages versus Macau. However, any debate is for another day. Let us just understand what is STILL happening currently in the property market which has already SLOWED DOWN since 2013. Developers, those listed in Bursa are still reporting profits, especially the usual prominent names. This meant that they were still able to sell… Banks are still earning huge profits. This meant they were still lending… Many buyers have gotten keys to the units they bought in 2012, 2013.

They were still able to pay their mortgages, most probably because they still have a job…
Moving on to some actions on the ground.

Source: Google Map

Recent launches have been pretty hot (as in selling), especially landed properties and they are not in the usual hotspots. They are usually a little further away but priced pretty attractively. For landed properties, my personal thought is that anything below RM600,000 would be considered attractive, still. Perhaps it may attract a married couple, both working and has a baby. It is highly unlikely for people to buy landed properties over an hour away from KL city centre just to rent it out substantially below the mortgage that they pay. One example?
1 hour ‘sold out’ landed property launch

Another one happened almost the same time. Paramount Property’s recent 204 units launch named Keranji was also fully sold within a few hours.
Here’s that full report in theedgemarkets.com

The site is in Salak Perdana, Sepang. This project is located within its Greenwoods township. As reported in the article, Paramount Property division CEO Beh Chun Chong shared that some 300 potential homebuyers started queuing up a day before the launch, despite the rain.  “Many of them were queuing patiently with their umbrellas. The unit selection started at 9am and ended at 11.30am with 100% of [the homes] taken up on Saturday.” He added that their main target market comprises families using the houses for their own stay. Built-ups for the intermediate units are 1,775 sq ft, with prices starting from RM479,900 for the intermediate units. End corner units have built-ups of 1,776 sq ft (priced from RM576,900) and 2,020 sq ft (priced from RM684,400).

The development is accessible via highways such as the ELITE Expressway, North South Expressway and Maju Expressway.  The amenities in the vicinity include hypermarkets such as Tesco, Giant, KIP Mart, Home Mart and recreational areas such as Taman Tasik Teratai, Stadium Mini Majlis Perbandaran Sepang and Nilai Springs Golf & Country Club. There are also many educational institutions nearby too. They include Smart Reader Kids Kindergarten, KLIA Primary School, Nilai International School, SMK Seri Sepang and East College of Technology. Medical institutions such as Nilai Medical Centre, Hospital Putrajaya and National Cancer Institute, Putrajaya. Keranji is expected to be completed by May 2020. (Just two years away)

If I am still single or just gotten married and both my wife and I are working in KL city centre, it is highly unlikely for us to buy a place which is over 50km away. However, if I have a family and my preference is for a landed property and yet I am not the super-wealthy,

then the only way forward is for me to consider areas further away

which at this moment is still not loved by the majority. As for that age-old question of whether these far-away properties would appreciate or not, let me just remind everyone that one upon a time, many of the happening places today were once secondary forests, huge plantations or even former mines… When these NEARER areas (to KL city centre) continues to appreciate in value (price), then the further away areas would just follow. Happy buying a home sweet home, regardless of where they may be.

written on 5 April 2018

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Launching RM1.2 billion and targeting sales of RM1 billion. Confidence is good.

There are developers who wants to sell everything they have launched a few years ago by offering very attractive pricing and packages. Do remember that it’s worth understanding that we better understand what we need instead of being attracted by how much is the ‘discount’ or ‘savings’ being offered. Check out the prices for nearby properties to have some ideas too. This is one such site worth
dropping by: brickz.my
  Then, there are also developers who continue to launch new projects and also to set some good sales targets too.

Article in edgeprop.my here.
  Paramount Corporation Bhd is planning to launch some RM1.2 billion worth of property projects in 2020 while maintaining its sales target at RM1 billion. Its CEO Jeffrey Chew said that the sales will be driven by demand from the formation of new households and owners who are looking to upgrade their home. He shared that between 2011 to 2020, the growth rate of households is estimated at 2.9% per year. He said, “The number of households in the country is still growing and we see people are starting to buy [property] now after holding back their purchase in the last three years.”

He shared that the pricing for new launches this year will fall between the range of RM450 to RM500 per sq ft or between the price range of RM300,000 to RM600,000 per unit. He says that these segments would enjoy better demand than the units priced between RM700,000 to RM800,000 currently. He said, “We will still keep on building as we’re in a good position where we have healthy cash flow to use for operation and land acquisition.” Please refer to full article here:
Article in edgeprop.my here.

A few key things that we could learn from Chew’s sharing. The formation of households will mean demand continue to happen. ( I was ADVISED to get a home before I could get married by my father-in-law).  The right pricing is essential and this must depend on what the people could afford. This is also something which developers are now paying a lot of attention too. Launching something above what people could afford is a no-no, not just today but also tomorrow.

Last but not least, developers are still able to continue building if they could sold a lot of their earlier launches. It does not mean that if the developers have unsold units, they will stop all new launches. Stopping new launches will happen if a developer is really in a cash-tight position. That’s not a good sign yeah.  Happy reading and learning from all these developers when they share their findings with the public. Yes, I will write it down so that all of us get to know about it too.

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Park Place by ParkCity Offers New Dynamism Into Living Space.

Park Place by ParkCity. I think the first image of people queuing could be considered a viral news just a few days ago. Image of people queuing for a new property launch is not so common these days. So, when one project launch has such a scene, everyone would start forwarding and sharing.

Press Release: Park Place by ParkCity Offers New Dynamism Into Living Space

Significant changes in our lifestyle priorities are creating a strong demand for developers to rethink common spaces in modern high rise living where the incorporation of the “Fourth Space” and extension of homes either for learning, working or socialising is a vital part of everyday life.

As the latest exciting addition to the award-winning Desa ParkCity township, ParkCity has unveiled Park Place, the first-of-its-kind condominium development strategically located between Central Park and upcoming Town Square Park under construction. With ParkCity’s foresight to quickly adapt to homebuyers’ ever-changing lifestyle, this forward thinking has greatly benefitted the recent launch that has set a new standard in high rise living.

Built on 4.55 acres of freehold land with a gross development value (GDV) of RM770mil Park Place offers 537 home units ranging from 1,109 square ft to 4,047 square ft with two to four bedrooms that are spread across a collection of three elegantly proportioned wings within one tower overlooking verdant landscapes and scenic views of the Desa ParkCity and Kuala Lumpur skyline.

Park Place by ParkCity features 5 different types of units to suit the lifestyles of either individual homebuyers, young couples to growing families the price ranges from RM900,000 to RM2.2mil for Types A,B, C and D and the price for Type E with limited units of 5 duplexes, starts from RM2.9mil.

Modern high-rise living demands well-planned and structured spaces that allow residents to live the life they want. With the focus placed on building a refined architecture with generous amenities and high-quality finishes, Park Place has set a new dynamism in high-rise living incorporating a multitude of features that meet the dynamic needs of a modern lifestyle.

“Park Place started its design development and planning mid last year. This residential development encompasses a lot of features that homebuyers will find extremely useful for today’s lifestyle and now with Covid-19 in the picture, these elements serve as practical and important extensions to their individual homes,” said Datuk Joseph Lau, ParkCity Group CEO.

Redefining high-rise living

Slated to be completed in 2024, Park Place by ParkCity will stand at 54-storey high to present a new holistic communal lifestyle imbued with creative working and social spaces. Over and above the usual common facilities such as gym, barbecue area, children’s pool and an infinity Olympic-length swimming pool on the 8
th
 floor of the podium, Park Place also calls for active opportunities for social interactions with a Sky Garden of more than 20,000 sq ft at Levels 41 and 42, designed as an extension of home that provides spaces for work, relaxation, learning and social mingling.

The Sky Garden is separated into two parts: Active Hall and Passive Hall. Active Hall is where one socialises, has family gatherings and watches movies; a space where one discovers or creates new experiences. Passive Hall is more for activities such as private tuition sessions, drawing, reading and private office meetings; a space where one goes for some solitude or to recollect one’s thoughts.

These provide homebuyers with options to enjoy a quick stroll and fresh air at one moment, then carry on with daily activities like work or online meetings the next. Careful planning and thoughtful design have been put into creating these facilities, spaces and an environment that is both manageable and sustainable in achieving Park Place’s goal of becoming a safe haven under one roof to live, work, grow and have fun.

Elegance meets practicality in Park Place by ParkCity

With a passion to design high quality and timeless buildings, multiple award-winning architect Erik L’Heureux FAIA and founder of Singapore-based Pencil Office believes that an outstanding architecture serves to both complement and accentuate the surrounding environment to add value to and build upon a grand neighbourhood. As its lead design architect, this vision is evident in the architecture of Park Place that has been designed to complement the masterplan of Desa ParkCity.

Working closely with L’Heureux is PIA Interior, an award-winning Thai design studio with over two decades of diverse experience. Using the idea of “hotelization” to design the common spaces, where these spaces are likened to that of a hotel, Park Place is designed to be the epitome of vibrant living that encompasses elements such as creativity, liveability, and sustainability. Vachirapong Danny Arthayukti, PIA Interior Design Director, believes that ParkCity is the first Developer that offers such extensions of spaces for each individual unit.

Through this collaboration with ParkCity, Pencil Office and PIA Interior conceived an equilibrium vision for Park Place which is expressed through its vertical lines and landscaping. These elements can be seen in the accentuation yet sophisticated slender proportions of the 3 wings within the tower, complementing the greenery from the forest themed landscaping.

Arthayukti has infused Park Place’s landscaping design featuring a mature forest with over 70,000 square feet purposefully allocated with high canopy that serves as an umbrella to give protection from the heat and shade to the space in between. The ground level below where residents and visitors are greeted with a welcoming forest drop-off court with a mix of hard and soft elements to facilitate the human functions within the project. Arthayukti believes that the value add of interior and design landscaping elevates Park Place to a new level.

Placed within a self-sustaining township

In further complementing the strategically-planned Desa ParkCity, Park Place residents can enjoy all the conveniences of living in the self-sustaining township complete with its very own amenities and facilities. Just a short distance away is The Waterfront, an iconic retail entertainment centre, and Plaza Arkadia that provides office spaces, entertainment and F&B options.

Furthermore, the nearby Central Park is an ideal spot for families and friends to come together and bond over picnics, peaceful walks, children’s playtime or even workouts. Here, park amenities are abundant for the use of every visitor including tree-lined wide jogging paths, walking pathways, child-proof children’s playground and iconic park benches.

“As a developer that has made a name through our innovative designs in master-planned township, ParkCity will work towards solidifying our status by providing dynamic residential designs to meet the ever-changing needs of our homebuyers, and to provide seamless opportunities to enjoy the best moments in life,” Datuk Joseph Lau added.

Datuk Joseph Lau believes that every situation always presents opportunities. With the current low rate of interest, the return of Home Ownership Campaign and many incentives under the National Economic Recovery Plan (Penjana), it is a good time to own a home.

“We have continued to listen to our customers and loyalists to meet their needs and wants. With the current market and the value proposition of Park Place, the prices are really compelling. We are glad that Park Place has received an overwhelming response from the market. We are indeed very thankful for the strong support from our existing buyers, investors and new buyers that share the same values and enthusiasm as us towards Park Place”

Park Place by ParkCity received an overwhelming response during its priority sales event last weekend that saw over 86% of their units sold.

To keep up to date with Desa ParkCity’s latest developments, visit
http://www.desaparkcity.com

–
End of Press Release –

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Parkson Suria KLCC ‘moving out sale’ is in progress.

After SPM, my first ‘part-time’ job was in Parkson in Ipoh Parade. Ms. S was my floor supervisor and Mr. L was my floor executive. Both were nice people and I enjoyed the three months that I was there until I started my Form 6. Ms. S even asked me to work part-time after I told her I am starting Form 6. (Must be because I am a good and dependable staff. 😛 ) I still feel nostalgic every time I speak to my many friends made during that few months. These days, the departmental store scene is not pretty.
Some say it’s due to online but I disagree yeah. Earlier article here.
We have seen many giants in the US either closing down or restructuring. Latest news about Parkson is the closure of its Suria KLCC.
 Article in Edgeprop.my here.

Latest thought by many is that the economy is in trouble.

Department store is having a ‘moving out sale’ until Feb 17

PETALING JAYA: The Parkson group, which has been streamlining its presence in Malaysia over the past year, is closing its outlet in Suria KLCC after two decades.

In a notice on its Facebook page yesterday, the Malaysian department-store operator said it was having a “moving out sale” at its KLCC outlet until Feb 17, emphasising that “everything must go.”

The three-level, 126,000 sq ft outlet opened in 1998 and was one of Suria KLCC’s earliest tenants. At press time, the company was not able to revert to queries from StarBiz on reasons for its closure.

“From what I understand, Parkson did not want to move out and were keen to maintain a presence in Suria KLCC.”

In 2016, home-grown lifestyle boutique BritishIndia lost its legal bid to continue operating at its premises on the first floor of Suria KLCC.

The High Court dismissed a suit by the boutique’s owner BTC Clothier Sdn Bhd to continue operating in the prime location, finding that the termination of its tenancy was legal.

According to reports, BTC Clothier’s founder, Liew Yam Ngoon, had alleged that Suria KLCC’s action against the company gave the impression that it was discriminating against Malaysian brands.

In its counter claim, Suria KLCC stated that the tenancy agreement had expired and it gave BritishIndia no option to renew.

Suria KLCC also claimed it had no desire to keep BritishIndia as a tenant, and that the offer to relocate was merely to give it an opportunity to continue doing business.

Parkson currently has more than 100 stores in the region and over 40 in Malaysia, occupying a total of five million sq ft.

Last year, the company closed its 220,000 sq ft Maju Junction outlet located at the Jalan Sultan Ismail-Jalan Tunku Abdul Rahman intersection. It was an anchor tenant of the mall and started operating there in 2014.

The group also shut down its 107,000 sq ft Sungei Wang Plaza outlet which it opened in 1987, as well as the Parkson Flemington outlet in Ho Chi Minh City, Vietnam.

Following the closures, a company spokesperson was quoted by StarBiz as saying that the closures were necessary due to changing market dynamics.
Read more at
https://www.thestar.com.my/business/business-news/2019/02/02/parkson-to-close-its-suria-klcc-outlet/#Lc1a8pbHVOML0ri8.99

Article in TheStar.com.my here.

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Passing on the cost of building to buyers? I don’t think so.

Recently, Credit Suisse said that developers’ cost of doing business has risen 20% in the first half of 2014. Thus their margins are being compressed and this cost will be passed on to the buyers. It said property sales, especially in the affordable segment has slowed since the start of the year due to cooling measures by the government. Yet, with all these, the property prices went up 8% in the first quarter of this year. It is also supportive of DIBS for first-time home buyers or those below a certain income level as this would be positive for the market. Though market transactions are still down and sentiment remain negative, Credit Suisse believe that prices would continue to rise due to GST. Property developers would definitely launch properties at higher prices as their costs have increased.

It’s not stated what has risen but I think the land price might be playing a part. Land prices has risen many times when compared with a few years ago. Of course as usual the material prices, the labour shortages due to the booming construction sector. Do not be surprised that developers tell you that it’s hard to get a good sub-contractor and the sub-contractor tells you that its tough to get a good worker these days. Many Indonesian workers are home because Indonesian construction sector is also booming. They may earn lesser than here but there, they are with family, friends and nice food. Here, they are without any loved ones and even the food, they have to eat the cheapest possible. As for non-skilled ones from other countries, it would already slow down the whole process.

Okay, with all these increases, would house prices be increasing and the costs passed on to buyers? Seriously, under the current circumstances, I do not think so. I think the likelihood is higher that the developer will manage their margins and their costs and perhaps do more value add things like built in renovations etc to try and maintain what they wanted to charge in the first place. Reason? I just logged in to my facebook page, within the first 20 posts, I saw no less than 10 advertisements of NEW properties. Everyone of them saying something which every buyer wants to hear. Seriously, competition is heating up. Transactions remain slow. Buyers are still unsure or pessimistic about the many bad news prevalent in the market. Just my personal opinion. I am certainly not an analyst with an international company. We shall see when the stats for the whole of 2014 is out.

written on 23rd Sept 2014.

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40 years later – Malaysia property market in my personal view

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Stay healthy. You need to work LONGER; past retirement.

Will you continue working past retirement? I guess the answer depends on whether we have enough to cater to our lifestyle. The lesser we spend, the lesser we need and the longer our savings could last us.  Typical retirement age is probably between 56 – 60 years old today in Malaysia. This is on the low side because many ageing and aged countries have already increased their retirement age many years back. They realised they needed more people to continue working because there’s just not enough young people joining the workforce.

Photo by Gabby K on
Pexels.com

Let’s look at some facts.
Article in themalaysianreserve.com
  World Bank Group representative to Malaysia and country manager Firas Raad said in a statement, “Malaysia has passed a crucial milestone in its development trajectory this year and has become an ageing society; defined per the international convention as having 7% or more of the population aged 65 and above.”

He shared that with rapid ageing, Malaysians would have to work longer. Our demographics have shifted to an era of low fertility and low mortality from a high fertility and high mortality previously. (Briefly, we have less baby and people live way longer than previously) He shared that only 45% of Malaysians between 55-64 are working while in South Korea, Japan and Thailand, more than 65% of persons aged 55 to 64 are active in the labour market. Do read more here:
Article in themalaysianreserve.com

They say health is wealth. Could we maintain this past retirement? Well, it’s happening with the demographics shift in Malaysia. We are now living longer. However, are we also be coming healthier? An earlier article here for reading:
Living longer and staying healthier. Malaysians lah

Three reminders for all of us. Living longer means we MUST be wealthier too. Else, how to support our life post-retirement yeah. If we are NOT wealthy enough, then be prepared to work LONGER. Else what to do once income stops? Lastly if we intend to work LONGER, then we need to stay healthy. Else, it’s not just inability to earn more salary post-retirement age but we will also be spending even more of our savings due to health issues.

Photo by George Becker on
Pexels.com

Open our eyes, open our ears and share with more people whom we care for. These three will come into our life journey in the future. Working past retirement is going to happen. My suggestion is not to skip this and think it is still long time in the future. I still remember vividly the day I started working in Penang. It’s been 22 years since then. I still remember my daughter on the day I held her in the delivery room. Today, she’s 7 going to 8. Time waits for no one. Be prepared as per the Scout motto. Take care and have a good day ahead.

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Patisserie Boutique, Ipoh

It was my sister’s birthday and since all of us were home in Ipoh, we decided to visit a good cafe. It should be a cafe that none of us had visited before. We chose Patisserie Boutique. This cafe is right behind/next to Plan B, Ipoh. I am not sure if the guy who welcomed us is the boss but it was indeed very good first impression in terms of service. The waitress also explained the menu briefly, what are the available coffee, the brands they are selling and others like the fruit juices. Since birthdays must have cakes, we ordered two. One is the Signature Chocolate Crunchie Mousse cake. The other one is a typical cheesecake. Needless to say, if they somehow name something so long, something must be good about them. True enough, the chocolate used was rich and with a tinge of chocolate bitter taste too. I love it.

Nearly forgotten. I have to talk about the coffee right? Haha. We ordered the Mocca and Latte. Mocca is good and looks great too. Take a look at the picture. The latte is just above average. Maybe because I feel there should at least be some engraving like what a lot of cafes are doing. The latte has sufficient depth to it and the milk is just about right. Perhaps intensity of the coffee is a little lacking for my taste. Haha. I like strong latte. 🙂

Oh yeah, about the environment, it’s a nice little cafe with simple decoration and paintings on the wall. Cooling and high ceiling meant the cafe is comfortable and with background music makes this a cafe you can go with your friends for a cuppa and some great catch ups. Perhaps next time I will try their food too. This time, too full as we had just finished our family lunch.

Written on 28th dec 2013

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Patrick Grove and Kuala Lumpur Internet City. RM5 billion GDV.

Patrick Grove is a familiar name in the online scene in Malaysia or perhaps the region or maybe even the international scene. He is the founder of Catcha Group and his latest venture is iFlix is valued at around US$500 million (RM2.218 Billion) (
TechCrunch article here
). When he sold iProperty to Newscorp, it was valued at US$534 million (RM2.369 billion)  (
techinasia article here)
. Okay, now that we know that he is pretty famous and entrepreneurial and wealthy, let’s look at what he intends to also be doing next. It’s PROPERTY. According to an article by
Karamjit Singh in digitalnewsasia,
 Patrick will be applying his digital experience into his first property project to be called the Kuala Lumpur Internet City (KLIC). Think about hundreds of IT-related companies and over 20,000 tech professionals all housed within the same place. WOW.

This is definitely a great vision for the IT startup scene in Malaysia. Digital Economy should be a priority because this will be the future growth moving forward. Without this, countries would be left behind because we cannot be striving to become the cheaper manufacturing site forever!  Besides, these days, many programmers and developers are trying to make it big in the startup world. GRAB is one such startup which grew extremely big and is now considered an ASEAN company. The gross development value for KLIC is projected to be US$1.1 billion (RM5 billion) and it will have a total of 5 million sq ft space. When Patrick was asked about having iFlix moving to Bandar Malaysia by Karamjit, He said, ““Companies like iflix will be within close proximity of other internet companies (a one minute bike ride from each other). KLIC aims to attract top talent to facilitate knowledge transfer via internet mentoring programs from expats that are based there. The development aims to house at least 1,000 internet-related companies as tenants and become a hub to 25,000 tech professionals.”

Source: JobStreet.com Malaysia Salary Report

When we look at the starting salaries of fresh graduates these days, those who are proficient in certain programming languages are paid by far higher than other majors. Yes, it’s definitely above RM3,000 per month on the low side. Within a couple of years, do not be surprised that some of these people would be team leads and earning salaries that we thought belonged to managers just years ago. Take a look at some numbers from JobStreet.com Malaysia for the typical salaries earned by a Technical Lead. Look at their age… By the way, anyone earning above RM8,000 per month in Malaysia is already the Top 20 % income earners in Malaysia.
Top income earners in Malaysia

Parents, now you know what your kids should study. It’s not that three usual ones lah. Those require lots of time. No do, no money… For IT, if your kid can come up with a successful idea, it’s vacation forever. Too bad, I do not have a Computer Science degree. Well… I will work harder then. Happy learning and investing.

written on 5 April 2017

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Pavilion REIT: Acquisition of Pavillion Bukit Jalil

What is a REIT?

You can read more about it here in an earlier article too.
REIT Advantages
  Real Estate Investment Trust (REIT) is another way for invetors to start investing into the real estate world without the need to have big capital. Just buy these like we buy a stock from the share market. Enjoy the dividends which is still considered attractive when compared to fixed deposit rates. Just need to be aware of the latest returns before you buy yeah. It could have changed because the REIT price may have increased etc. Plus, REIT allows us to buy into real estate assets which would have been impossible for us to buy by ourselves. For example, a stake in Pavillion Bukit Jalil? Below is the media realese from Pavillion REIT.

— start —

PAVILION REIT TO STRENGTHEN ASSET LINE-UP WITH RM2.20 BILLION

ACQUISITION OF PAVILION BUKIT JALIL

Kuala Lumpur– MTrustee Berhad, the trustee of Pavilion REIT has entered into a conditional sale and purchase agreement to acquire Pavilion Bukit Jalil (“PBJ Mall”) from Regal Path Sdn Bhd for RM2.20 billion. Pavilion REIT Management Sdn Bhd (“the Manager”) also proposes to undertake a private placement exercise to raise up to RM1.27 billion, with the issue price to be determined later through a book-building exercise.

Subject to condition precedents being complied with, the proposed acquisition is expected to be completed in the second quarter of 2023 whereas the proposed placements are expected to be implemented in tranches.
This will enlarge Pavilion REIT’s assets to six, from the current line-up that comprises Pavilion Kuala Lumpur Mall, Pavilion Tower, Intermark Mall, DA MEN Mall and Elite Pavilion Mall.

The Manager said the acquisition of PBJ Mall is expected to contribute positively to Pavilion REIT’s future growth, adding an additional 27% to Pavilion REIT’s enlarged total assets under management. This proposed acquisition is timely following the resumption of economic activities and expectation of better employment opportunities post COVID-19 pandemic.

Such positive spillover can be seen in Pavilion REIT’s nine-months profit after tax for 2022 of RM181.4 million (+153% YoY) and distribution per unit (DPU) to 30 September 2022 of 6.16sen, attributed by higher revenue rent, income from advertising and marketing events as well as lower property operating expenses.

With a net lettable area of 1.8 million square feet, PBJ Mall has rejuvenated Bukit Jalil into a vibrant destination for business, shopping, dining, leisure and entertainment on a 28-acre freehold plot. The mall houses five levels of retail space, two levels of basement parking with 4,800 car park bays and a Piazza (centralized green area) – with all these integrated seamlessly as part of the 50-acre Bukit Jalil City integrated lifestyle development comprising 3 storey shop
offices and residences (The Park and The Park 2).

Completed a year ago, the last six months saw PBJ Mall recording an average of 1.2 million monthly footfall with an occupancy rate of 78.2%. “The retail industry is expected to stay relatively resilient for the time being, even with the
environment indicating risks of higher inflation. With retail sales growth expected to normalise, Pavilion REIT remains committed to bringing long-term growth and value for our stakeholders”, said Dato’ Philip Ho, the Chief Executive Officer of the Manager.

Tourist arrivals are also expected to fully return to pre-pandemic levels by 2024 as more countries relax their respective COVID-19 prevention measures, including Malaysia. Observers are also optimistic that China will eventually loosen travel restrictions on its citizens in the near future.

— end —

What are some REIT Advantages?

Here are the 5 advantages of REITs?

#1 – Super affordable to start.
A RM500,000 property means we need a minimum of RM50,000 just for down-payment. Well, with a REIT, we do not need 10% down-payment to buy. We can have RM500, RM5,000 or even RM50,000 and we can still choose to start with buying the REIT stock we love. There are many choices, so just choose the one we like the most by knowing which property they manage. In fact, we could just choose to buy as much as we could afford too.

#2 – Liquidity.
Unlike buying a property which will take months or at least weeks if we could afford to buy via cash, when it comes to REITs, we can buy today, sell today. We can also buy today, sell 3 months later. The timing is really up to us. Here, we have liquidity when we need them. Suddenly we found something we must buy? Just sell the REIT and get the money to invest / buy in days. This is unlike buying a property which will take many months to complete the buy and another few months to sell.

#3 – Steady dividends.
When we rent out our property today, we may not even have positive rental yields. Let’s not even talk about steady dividends. Well, when it comes to REITs, they usually declare as much dividend payout as they could unless they need the money for further acquisitions. So, every year, the investment will give returns. Steady dividends would be something expected too unless some unforeseen circumstances happen to that property which was being managed.

#4 – You ‘OWN’ a commercial property you love to visit.
Every time we visit a mall we love, don’t we wish that we are the owner of the mall? Well, with a REIT we would. We can choose to buy that particular REIT and now we can proudly say that we are the “owner” (partial owner is still owner okay…) of a famous and popular mall. So moving forward, we can say I am visiting my mall and contributing to its success too. Haha. Anyway, many property “experts” also tell everyone they own 50 properties etc… Some times, these ownership is just a 1% stake. So, if they could claim, you can claim to own the mall too.

#5 – Professional management.
 It’s not possible to be able to manage all our property investments easily unless we are professionals with years of experience. This is why sometimes it’s best to leave all these management to the professionals. Well, when I referred to some of these REIT mangement teams, I do think the professionals who are managing these REITs are experienced people. Usually with years and years of real estate industry experience too. So, their decision will be better than ours too.

Happy deciding.

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Press Release – Pavillion Damansara Heights

Press Release by Pavillion Group and Canada Pension Plan Investment Board

— start —

PAVILION DAMANSARA HEIGHTS –

THE MOST ANTICIPATED INTEGRATED DEVELOPMENT IN KUALA LUMPUR

Pavilion Group and Canada Pension Plan Investment Board is officially unveiling

Pavilion Damansara Heights, a mixed-use development project in

Damansara Heights, Kuala Lumpur

Kuala Lumpur, 27 September 2017
 – Pavilion Group and the Canada Pension Plan Investment Board (“CPPIB”) held an exclusive unveiling of Kuala Lumpur’s most anticipated integrated development, Pavilion Damansara Heights in Pusat Bandar Damansara (PBD), today.

Representing Canada Pension Plan Investment Board (“CPPIB”)’s first direct real estate investment in Malaysia and Southeast Asia, Pavilion Damansara Heights is an upscale integrated development spanning 16 acres of prime freehold land comprising 10 corporate towers, 5 residential towers and a retail mall. With a gross development value (“GDV”) of RM9 billion, this exciting development is situated at one of the most prime and affluent locations in Kuala Lumpur.

Strategically located, Pavilion Damansara Heights is highly accessible through an integrated network of roads. It is directly accessible from Sprint Highway and linked to the newly operational MRT line 1. Seamlessly connected to the Pavilion Damansara Heights MRT Station, and merely five stations from Pavilion Bukit Bintang MRT, the development’s dynamic location is primed for success.

Dato’ Tracey Lai, Sales & Marketing Director of 1 Pavilion Property Consultancy Sdn Bhd said, “Private preview has commenced early this year by invitation

only and of the nine corporate towers that have been launched, 85% has been sold. The luxury residences, which will be designed to impeccable standards are priced at an average of RM1,800psf. With close to 2,500 potential buyers who have registered their interest, a high take-up rate is expected.”

Dato’ Tracey Lai further attributed the tremendous interest of the buyers to the strong Pavilion branding, the Damansara Heights address and the much anticipated Pavilion Damansara Heights mall.

Dato’ Joyce Yap, Chief Executive Officer of Kuala Lumpur Pavilion Sdn Bhd added “The mall will be a destination for the senses, bound to capture your hearts with contemporary retail, curated dining, entertainment, edutainment, music, arts, culture and leisure concepts. Not only will we engage the five senses (to see, touch, taste, smell and hear), we promise you the engagement of the sixth sense – ‘to feel and be happy’. And as we plan, we will constantly evolve to create moments of aspiration and indulgence, inspired by the latest world trends”.

Jimmy Phua, Managing Director and Head of Real Estate Investments Asia, CPPIB, said: “We are pleased and privileged to be part of this prestigious development. Pavilion Damansara Heights will no doubt redefine the landscape of Pusat Bandar Damansara into a destination of choice.?”

Guest of Honour, Minister of Federal Territories, Y.B. Datuk Seri Utama Tengku Adnan bin Tengku Mansor commented, “The meticulously crafted Pavilion Damansara Heights is set to raise the city’s stature and offer total rejuvenation around the area. This new development will help strengthen Kuala Lumpur’s position as the premier destination for both local and international tourists and investors. In addition, residents in the surrounding areas will benefit from a significant increase in their property value. This is complemented by the availability of world-class infrastructure, increased job opportunities, and further economic growth that comes in line with the development. I strongly believe that this development is a massive step forward towards positioning Kuala Lumpur amongst the Top 20 cities in the world by 2020.”

The entire Pavilion Damansara Heights development is expected to be completed in stages by 2022.

— end —

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REIT News: Pavillion REIT buying a RM2.2 billion asset

Buying a mall (or part of a mall), could you do that?

“Do you want to own a mall without needing to buy the whole mall?” Yea, it’s possible if you are to invest into a real estate investment trust fund via the stock market. There are plenty of choices actually. Okay, it’s not like hundreds of choices but I think there’s enough for us to pick. Here’s the list of REITs and all the other necessary details to know before you invest into one.
 I think it is comprehensively explained at dividendmagic.com

For latest news on REIT:

Media Release by PAVILLION REIT:

UNITHOLDERS OF PAVILION REIT AGREE TO ACQUIRE
PAVILION BUKIT JALIL FOR RM 2.2 BILLION

Kuala Lumpur, 22 March 2023:
Pavilion REIT, one of Malaysia’s largest retail concentrated real estate investment trusts, has announced at following the unitholders meetings, its non-interested unitholders have agreed to the acquisition of Pavilion Bukit Jalil Mall (PBJ Mall).

The acquisition, initially announced on 22 November 2022 will see MTrustee Berhad, as the trustee of Pavilion REIT, acquiring PBJ Mall and all related assets and rights from Regal Path Sdn Bhd (Regal Path), a wholly-owned subsidiary of Malton Bhd, for RM2.2 billion.

This acquisition is expected to increase the portfolio base of Pavilion REIT to RM 8.3 billion from RM 6.0 billion and provide future growth opportunities for the trust.

Pavilion REIT’s Manager chief executive officer Dato’ Philip Ho said “We are delighted that our unitholders believe in our strategy to grow Pavilion REIT in a sustainable, resilient manner and diversify its income base,”.

“This acquisition is also a testament to the quality of the asset and the strength of the Pavilion brand. It also demonstrates the confidence that Pavilion REIT’s unitholders have in the long-term growth prospects of the Malaysian economy”, he said.

According to the REIT’s filing with Bursa Malaysia on Wednesday (March 22), this endorsement by unitholders also saw the approval of two private placement exercises to partly fund the acquisition, spread between the first tranche of RM 720 million, scheduled to be completed in second quarter of this year and a second tranche of RM 550 million, to be completed latest by the second quarter of 2025. The issue price for new units will also be determined later by way of a book-building exercise whilst the remainder of the acquisition consideration will be funded by bank borrowings.

Gearing for Pavilion REIT will increase from 33.8% as at 31 December 2022 to 36.8% upon completion of both tranches of the placements. This remains comfortably under the gearing limit of 50.0% as permitted under the listed REIT guidelines which would still allow Pavilion REIT head-room to explore potential acquisitions.

In addition, post-private placement of both tranches, unitholders will see a dilution in the unitholdings of its major unitholders which will improve trading liquidity and benefit retail investors.

Pavilion Bukit Jalil is a five-storey shopping mall that spans over 1.8 million square feet. The mall features a wide range of international and local retailers, including fashion, beauty, electronics, and home goods stores. It also boasts a large food court and a range of restaurants and cafes, making it a popular suburban destination for dining and entertainment.

Units of Pavilion REIT closed RM 1.32 on Wednesday, valuing the REIT at RM 4.04 billion.

ENDS

Property Investment would always be wonderful, REIT is one such way to start

Go to your favourite mall. See if it’s fully tenanted. If it is and you really love this mall, find out if it’s available for you to ‘buy’ in one of the REITs in Malaysia. Buy it, then continue enjoying visiting and spending in your mall. Haha. I always think like that when I buy into any company. I feel I am part of the company’s success too. Cheers.

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Lots of property choices under “Pay Later, Buy Now” by IOI Properties

If you are looking for a property from a reputable developer and you want to secure a property while accumulating the downpayment, here’s one programme for you. IOI Properties launched it’s “Pay Later, Buy Now” end financing options. This is a program for a selection of its newly completed properties. The choices are wide and they include the following:

A broad range of IOI Properties developments are eligible under the Pay Later Buy Now Scheme, including:

• Akira 3-Storey Semi-D, 16 Sierra, Puchong South

• Lyden Semi-D, 16 Sierra, Puchong South

• N’Dira Hybrid Terrace, 16 Sierra, Puchong South

• The Clio Residences, IOI Resort City

• Conezión Residences, IOI Resort City

• Pavilion Serviced Residences, Bandar Puteri Puchong

• Seri Puteri Hills Townvilla & Condominium, Bandar Puteri Puchong

• Sky Condominium, Bandar Puchong Jaya

• Almyra Residence, Bandar Puteri Bangi

— Press Release by IOI Properties —

Those considering end financing options for their next property are in luck with the Pay Later Buy Now financing scheme from IOI Properties. To help prospective homeowners move forward with the next phase of their lives, IOI Properties has put a selection of its newly completed properties under the banner of this programme, which makes moving into your dream home as easy as a breeze.

Move In, Move On In addition to low down payment as low as RM1,000*, purchasers enjoy an extended period of 5 years to settle differential sum payments up to RM115,000. With the extended settlement period, purchasers are free to pursue other life goals and focus on what really matters. Taking advantage of this financing scheme, purchasers will be able to stretch their finances and pursue other plans such as marriage, investment or renovating and decorating their new home.

*Terms & conditions apply. For more information, those interested can visit
ioiproperties.com.my/PayLater
 or call the relevant IOI Properties township:

• 16 Sierra: 016 299 1662      • IOI Resort City: 016 299 2197      • Bandar Puteri Puchong & Bandar Puchong Jaya: 016 299 2193      • Bandar Puteri Bangi: 016 299 2133      • Warisan Puteri: 016 299 2207

Closer to Customers Adding further value to purchasers,
 IOI Properties recently launched IOI LiVO, a customer loyalty and rewards programme exclusively for property owners only. Accessible via a convenient and intuitively designed mobile app, IOI LiVO enables fast and easy rewards & redemption without the need to carry a card. Upon downloading & installing the app via the Apple App Store or Google Play, members can access a variety of rewards & benefits ranging from leisure options at Le Meridien Putrajaya, Marriott Putrajaya, Four Points Hotel Puchong, Palm Garden Hotel & Golf Club to dining and retail privileges at participating merchants. What’s more, those who install and update their membership are eligible for exclusive discounts on future property purchases, invitations to property launches, special events and more.

In conjunction with the Pay Later Buy Now campaign, the IOI Properties Showcase is slated for the following dates: • IOI Mall Puchong – 28 to 30 September (Friday to Sunday), 10 am – 10 pm • IOI City Mall, Putrajaya – 19 to 21 October (Friday to Sunday), 10 am – 10 pm

For more information, those interested can visit
ioiproperties.com.my/PayLater

or call the relevant IOI Properties township: • 16 Sierra: 016 299 1662

• IOI Resort City: 016 299 2197

• Bandar Puteri Puchong & Bandar Puchong Jaya: 016 299 2193

• Bandar Puteri Bangi: 016 299 2133

• Warisan Puteri: 016 299 2207

— end of press release —

There’s also a video about the programme:

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Property Investment: If you refuse to pay maintenance fees…

Frankly, I am not so sure what the management of my condo could do to me if I did not pay my maintenance fees on time. I do think they will deactivate my access cards which meant that I could not drive my car in as an owner but I do think they cannot stop me from coming in as a guest and park my car at the guest car park.

Oh yeah, I also cannot go into lobby with my access card but I am sure they will still allow me entry as an owner? Would I still be able to book the facilities then I wonder? Maybe not since all of these are done electronically and it’s quite easy for them to deactivate this as well. Well, let’s listen to the expert then.

Article in propertyguru.com.my
   According to the Strata Management Act 2013, homeowners must pay for the maintenance fees and sinking fund. Now, should the landlord fail/refuse to pay up, the management body can sue and take his/her assets away, or the tenant can terminate the agreement immediately!

Actions which can be taken against owners under SMA

Under the SMA, homeowners must pay for the
maintenance fees and sinking fund
, for the upkeep and management of the residential blocks and public facilities.

In other words, the owner (in this case, your landlord) is required by law to pay up, no excuses!

If he/she fails to pay the maintenance fees after a 14 days’ demand notice,
the management body can SUE the owners.

This can take place in either the Court or
Strata Management Tribunal (SMT)
 for recovery of the unpaid maintenance fees.

Besides that, the SMA also states that it’s a criminal offence if the owner (without reasonable excuse)
fails to comply with the 14 days’ demand notice.

Upon conviction, the owner can be fined not more than RM5,000 or jailed not more than 3 years, or BOTH!

Furthermore, the management body can also apply to the Commissioner of Building (COB) for
a warrant to seize any movable assets belonging to the owner (inside the property, or elsewhere in the state).

Yes, you heard that right, the management body can get a warrant to seize the TV, sofa and other movable items which can be found in the unit or other places in the state.

If I am just the tenant, would anything happen to me?

Under the Third Schedule of Strata Management (Maintenance and Management) Regulations 2015, regulation 6 has defined a defaulter to be:
‘an owner who has not fully paid the maintenance fees’.

In addition, it states that restriction or action can be imposed against the defaulter, including ‘
his family, charge, assignee, successor-in-title, lessee, tenant or occupier of his parcel
’. (YES, it includes the TENANT too…)

Therefore, if your landlord has not paid the maintenance fees, the management body can impose certain restriction or action against you as tenant!

Here are some of the restrictions and actions allowed under the regulation:

The management body can display a list of defaulters on the notice board in the building
The management body can deactivate access cards
The management body can stop you from using the common facilities

Although the management body can deactivate your access card,
they have absolutely no power to stop you from entering your unit.

Hence, you’d still be able to gain entry to your unit by registering yourself at the guardhouse, or getting the guards’ assistance to access the lift.  By the way, the article is a comprehensive one. Please do read it here:
Article in propertyguru.com.my

It’s best to have a great landlord-tenant relationship

If I am a tenant, I love a professional landlord who will pay the maintenance fees on time and stop giving me excuses every time I need help. For example, to fix the aircon… to fix the refrigerator… to fix the master-room door knobs and more. Yeah, all these were real issues which was dealt by me the landlord for my tenant super promptly. If I am to expect my tenant to be professional and pay their rental on time, I should be a good landlord too, right?

All the above tenants with the issues mentioned above, all paid their rental on time every month, year after year. Haha. Unfortunately, one has recently given notice as she had bought a new condo nearby the beach in Penang. Yeah, go and guess which beach in Penang yeah. She’s the one whom I have NEVER needed to remind on rental for the last 2.5 years. I do wonder if the next tenant could be like her as well.

As for the aircon one, happy to report that he is still renting and still paying rental on time. In fact, about the fixing the aircon, the person paid FIRST… then the person deducted it from the rental for the following month. By the way, I offered to tt the person but the person said it’s okay, just two weeks’ difference from the rental payment anyway. I hope this person will stay many more years!

Do you have good stories to tell? Please share to meiyun@kopiandproperty.com   If your sharing is published, you will receive a good book for free from Dr. Peter Yee. This is the book.
Book Review: Property Investment Wisdom by Dr. Peter Yee
  Happy reading and thank you for sharing.

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Pay RM45.1 million first. Delay 2 years but completion date now 2031?

The postponement of the HSR KL – SG is now inked. It will now only start construction in end-May 2020 and the new date for the commencement date will be Dec31 2031. (DELAYED by 5 years) For this delay, Malaysia will pay Singapore US$15million (RM45 million). This postponement agreement was signed by Malaysia’s Economic Affairs Minister Azmin Ali and Singapore’s Transport Minister Khaw Boon Wan at the Prime Minister’s Office in Putrajaya on Wednesday afternoon. Additionally, if Malaysia does not proceed with the project by May 31, 2020, it will also bear the agreed costs incurred by Singapore in fulfilling the HSR Bilateral Agreement. It was reported earlier that the Singapore Government had spent more than S$250 million on the project as at May 2018. (Yes, if the postponement becomes cancellation, there are still a huge cost to pay)

Joint statement says this, “During the suspension period, both countries will “continue to discuss the best way forward for the HSR project with the aim of reducing costs.” Azmin said, “We have all worked tirelessly in order to bring about a resolution that is mutually beneficial. Without doubt, this agreement would not have happened if not for our strong commitment to bilateral cooperation between our two countries.” Khaw said, “Many Singaporeans had been looking forward to the realisation of this project and we remain committed to this project.” However, he said he understood why Malaysia had to suspend the development of the HSR. With this suspension, the Singapore and Malaysia companies managing the rail project – SG HSR and MyHSR – will be calling off the ongoing international joint tender for the HSR Assets Company (AssetsCo) AssetsCo was meant to be
responsible
for designing, building, financing and maintaining all rolling stock as well as rail assets such as power, signalling and telecommunications.
Please refer to the article in Channelnewsasia here.

I hope everyone realises that the HSR KL – SG is not a project which will compete with the airlines (as per so many analysts….) or compete with the expressways (many say Singaporeans who wants to travel to cities and towns in Malaysia could just drive). It is to create new demand. Here’s that earlier article:
Focus on new demand, not just the existing one.
 Another thing I do not understand however is that the commencement date was postponed to 5 years later from 2026 even though the starting of the project was only delayed by TWO years. Hopefully, someone high up could explain this as well. By the way, the Malaysian economy continues to be doing just fine and is NOT going to go bankrupt anytime soon. Well, I am just a blogger who hopes the HSR could have been completed earlier and not delayed. Just have to follow as the things happen. At the mean time? I could drive lah but very few Singaporeans have cars… Get the hint? Happy following.

written on 6 Sept 2018

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Paya Terubong condo, indicative price is RM846psf!

My first apartment of 700sf was along Jalan Paya Terubong. It was RM123,000. I bought it when I was 25 years old and that’s slightly over 10 years ago. This meant the price per sf then was RM175 psf. The buyer who sold it to me bought the same unit just a few thousand ringgit cheaper. In other words, he had only managed to breakeven. He needed the money for a downpayment for his shop. Today, I read about a condo project along the same road with an indicative price of RM846 psf!

Eco World Development Group Bhd (EcoWorld) will be launching its first project in Penang named Eco Terraces condominium next month. It’s CEO Datuk Chang Khim Wah said that, “Apart from being the first project for the group in the northern region, we believe Eco Terraces will also set new standards in high-rise living here.” The development is along Japan Paya Terubong and would be 25 minutes away from Georgetown and 15 minutes from the first Penang bridge. These durations were also my main arguments versus a Penangite lady who insisted that Gelugor is a much better choice than Relau / Sungai Ara. Well, at least I now have a CEO on my side as well.

Eco Terraces should be completed by Q2 2019. There are a total of 333 units in a 33-storey block. Hey, anything to do with Fengshui? Unit sizes ranges from 1,095 (my personal minimum size for a family of 4) to 2,008sf (This is already bigger than majority of the usual terrace houses actual built up size). Maintenance fee is estimated to be 36 sen psf. (Actually, pretty high, perhaps because the number of units is just 333. (I consider anything below 600 units to be low density these days). The 36 cents would cover maintenance for the following facilities. A multipurpose hall, karaoke room, golf simulation room, indoor badminton or tennis courts, barbeque area, swimming and wading pool, gym, aqua gym, jogging and cycling tracks. Looks pretty complete for an above average condominium.

I think it is quite clear that this project would be setting a benchmark in terms of price psf in Paya Terubong area. I am just not so clear if Penangites would be buying these in droves because this is not Gelugor, Greenlane or even Tanjung Bungah. One thing is for sure, majority of the buyers would be those who are working in the Bayan Lepas area and would need a minimum combined household income of RM12,000 or higher to be able to afford it comfortably. I think one main point everyone should also note is that Penang island is still an island and with land prices continuing its climb, prices can only go up unless the developers are willing to cut their usual margins. Happy viewing this new benchmark setting condo project.

written on 29 May 2015

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Paying for “unnecessity”. Are we guilty of doing the same? (all the time?)

It was 4pm in the afternoon. We were at the

Genting Premium Outlet.

My daughter said she was hungry. As the sole breadwinner in the family and looking at the potential cost if we were to go to a cafe, I suggested the food court. My wife said that the food court was congested. It will be impossible to find four seats at the same table. Right in front of us was Starbucks. Since I still have RM90 plus credits left in my Starbucks app, I said sure let’s visit Starbucks instead. As soon as we arrived, we saw a long queue of easily 20 people. As for all the seats, they were all occupied. I think it must be the Merdeka spirit. You know those occasions which we must spend money? Haha. Just kidding. I think it is both acceptance of Starbucks as a lifestyle and the fact that people still have enough to spend on”unnecessity.”  Unnecessity is not the same as unnecessary. The former is something due to circumstances. The latter is simply wastage…. (of course, there’s no such English word)

My daughter got herself a slice of fruitcake for RM7 (coz all the cheesecakes were sold out)  and my wife got an ice blended drink. I share with my wife of course…. My daughter? We told her cold drinks are not good for her as she was coughing. So, she drank her plain water instead. Phew…. Even with just these two things, the bill was over RM30. If I were to do this every week, that’s 30 x 52 = RM1,560 per year. More than enough for my family of four to fly to Langkawi for 3 days and 2 nights. Fortunately, we do this perhaps twice whole year. Seriously, I am not kidding. These days, my trip to Starbucks have gone down from previous twice per week to just twice per month! This is despite the fact that Starbucks is just on the ground floor of my new office. Since I have cut down on the ‘unnecessity,’ I would like to write an article remind everyone of spending money for conveniences.

Have we ever wondered how many times have we spent money on “unnecessity”? A few more actual examples. Parking at VIP spot for RM40 at a 5-star hotel when its parking was full and because we wanted to save time instead of a car park some distance away from the function we were attending. Second example, buying a much more expensive Batik shirt (due to brand limitations in a certain mall) for our official function the next day because we did not want to continue shopping for a cheaper piece instead. As soon as we sit down, start calculating all these :unnecessities”, it will frighten us. Note, that this is not something unnecessary. We really do need to park our car because the event was about to start. (YES, I started the journey late…). We really need a Batik shirt because the event was starting the next day and it was already late at night.  (Okay… I left the buying to the last minute…).  So, the general conclusion would be two.

One, starting much earlier may turn these ‘unnecessities’ into just unnecessary.  Arriving early would have meant much lower parking fees. Start shopping earlier for the Batik shirt would have saved me a lot of money. Actually, there’s one more prominent “unnecessity.” Buying a new car because we believe it will enhance our image.  Haha. Hopefully I have not lost too many friends simply because I am driving an Exora. Well, when I bought it, it was because I needed a 7-seater and it fits everything that I was looking for. Nope, I was not aiming at some recon cars at that time. 🙂  All the best in cutting back all these “unnecessities”. Wishing all of us success because cutting down these would mean much more money for investments. Cheers.

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written on 2 Sept 2017

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Paying off 358 owners and building over 1,000 new units

News from propertyguru.com.sg. Great news for 358 owners of residential units in Shunfu Ville in Singapore. Everyone of them would get an average payout of about S$1.78 million. This is because a Chinese property developer Qingjian Realty will be entering into a sales and purchase agreement with the homeowners of Shunfu Ville. Shun Ville was recently privatised in 2013 and it was built in the late 1980s by the former Housing & Urban Development Company (HUDC). This is the third biggest collective sale by total value, behind Farrer Court and Leedon Heights, which were sold in 2007 for $1.34 billion and $835 million respectively, reported The Straits Times.

Good news for Qingjian because 80 percent of the owners have signed the collective sale agreement which meant the deal is through. The site has an estimated gross floor area of over 100,000 sq m and expected plot ratio of 2.8 (subject to approval by authorities). Qingjian’s General Manager Li Jun said, “We hope to be able to build over 1,000 homes at this site, and given the long-term popularity of the Bishan-Thomson area, we believe that the market will welcome them.” The site is close to the Marymount, Bishan and future Upper Thomson MRT stations, while established schools like Ai Tong School and Raffles Institution are also nearby.

10 years down the road if Malaysia have similar sets of regulations, I think many older condominiums in very prime areas can also be a similar target for these developers. Truth is, many younger buyers love certain hotspots but they may not be receptive to buying a condo with a design of 15 or 20 years ago. Even the swimming pool is not attractive anymore while the gym,if still working fully would already be looking extremely worn out. Plus, these hotspots command a high premium making the deal easier. Even paying 50 percent above the market rate is already extremely attractive and the developers can then build 2 times more units especially when they can now builder higher. Yes, of course approvals for a higher density is needed but this would not be the main obstacle because the approvals for newer condos are already at a higher plot ratio than previously. Well, I hope it happens so that I can continue to view ever newer show houses. Happy waiting and buying.

written on 25 May 2016

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Ready for “The Peak of Luxury” at Chemara Hills, Seremban?

Before I start, I think I should ask this important question. How many of us believe that a well planned development featuring spacious homes within a pleasing and comfortable environment but is around 54 minutes away from KLCC is better than a boutique and modern development of smaller units but is closer at just 30-45 minutes away from the KLCC. For those who think distance is the most important reason, you can skip this article already. To those who think like me and are willing to pay the same amount but get a bigger home and drive slightly longer, do read on. Oh yeah, I do not own any units at
Chemara Hills
 today. Definitely not trying to sell you my personal unit.

When we visit its
website
, a few prominent words appear. It says, “The Peak of Luxury.” Without looking at some images, these few words meant little. Upon a closer examination, Chemara Hills is indeed worth driving there and taking a stroll. By actually visiting and understanding what we could buy today meant that when we visit other similarly priced projects we can make a fairer comparison.

Fancy enjoying a cup of latte with a few good friends in the morning? Do take a look at what’s possible at Chemara Hills. It’s a project by a reputable developer,
Sime Darby Property
.

To understand how the whole development looks like, take a look at the Master Layout Plan below. For a typical landed property development, the facilities provided are definitely above majority of all projects, especially the land space allocated to these ‘luxuries.’ I think it’s safe to say that it’s safe for our family members to enjoy all these within the development. It has a single exit and entry, guarded by a 24-hour security service, alarm system for every home and a perimeter fencing surrounding the development

Do not worry, it’s not a development within a forest. The development is within the Seremban town. Of course, if we are already staying in Seremban today, this is a project worth a closer examination. Palm Mall and KPJ Medical Centre is only a stone’s throw away while nearby amenities include the Seremban Bus Terminal/Terminal 1 Shopping Centre, KTM Komuter Station, Tesco Extra Hypermarket, AEON Shopping Mall and Seremban Parade. I think these are sufficient for most families even though if you ask me, at least once every fortnight, I would still want to drop by huge malls such as MidValley Mall (45 minutes away) or Sunway Pyramid Shopping Mall (49 minutes away). Duration is as per my good friend, Google Map.

Coming back to the actual distance of
Chemara Hills
 versus all other ‘faraway’ developments. If we read a little more, we should be aware that there are many other developments in areas further away from the more mature and expensive hotspots of today. Yes, I am talking about those developments which already easily cost anything from RM800 per sq ft or even higher. If it’s nearby, next to or with a grand view of KLCC, it’s definitely over RM1,500 per sq ft today. The answer is an easy one. If we are prepared and can afford to pay, then by all means do proceed.

If however we think our choices could include even those further away, we do have choices. For example, there is another huge one in Semenyih (43km / 42 minutes of driving) or even the one in Dengkil (41km / 38 minutes of driving). Do look at what we really need in terms of the development, the choices, the sizes and the environment. In the company I work with today, my COO who drives from USJ needs to travel 31km and nothing lesser than over one and a half hour everyday. When asked why, he said he loved the place he is currently staying and the travelling duration has been accepted fully long time ago.

A few more images but all these should only form a basis for consideration. It’s best to bring your loved ones to visit the site. See if everyone loves it and then you can decide if your ‘sacrifice’ of an extra 15-20 minutes of driving every weekday is worth it. Else, do like what I do, join a gym nearby office and go there earlier to get healthier! These are reasons why I think
Chemara Hills
 would be a seriously good choice for some of those with families and thinking of living at a development touted as “The Peak of Luxury.” Some upcoming events to get to know about it closer? Click
Here
.

written on 3 May 2016

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Pelita, Ipoh.

It was raining and we needed a breakfast place. There is a PELITA inside Tesco Ipoh. Thus we decided to go to Pelita for breakfast followed by a Tesco shopping trip. Honestly, amongst nasi kandar fans, Pelita is hardly mentioned as a top ten places for nasi kandar, even in Penang. However, it is perfect as I do not need to carry my baby daughter with an umbrella and thus risk ‘raindrops keep falling on her head.’ Yes, you can guess my age already but I am not from that generation. I merely love oldies, that’s all. Haha.

The Nasi Lemak is quite presentable, half an egg and I tell you the highlight. Its sambal was rich in flavour and has the spicy kick in it! The fried anchovies are still as crispy as needed. The Roti Bawang is just so-so. I think they forgotten to bring to me and it was cold by the time it was presented to me. The staff who attended to us was however quite amazing. There were 6 of us and nearly everyone ordered different things. He did not even write down a single word! All the orders came correctly without any mistake. Amazing.

Oh yeah, they said, save the best for last. How about the coffee? I have to tell you, when you say something last, maybe thats because you do not have anything good to say. The coffee was tasteless to say the least. I think they should not reuse the coffee powder too many times. I cannot believe that besides another restaurant which I frequent nearby my house which has a zero standard for coffee, this Pelita actually comes close. Hello, we are talking about coffee standard in Ipoh.

Would I go again, well, if it rains and I do not wish to be too inconvenienced, then yes. I would not order the coffee again, for sure.

written on 11th jan 2014

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Xin Xiang Er Nong, Ipoh

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Pemerkasa Plus. Pay 50% or moratorium for 3 months? Which to choose?

We have the Pemerkasa+ being announced recently. If you like to know the full details, download the file at the end of this article. As this is kopiandproperty.com, we focus on the real estate part yeah. Prime Minister Tan Sri Muhyiddin Yassin said that loan repayment assistance and a moratorium worth up to RM30 billion starting June 2021 will be given to people affected by job loss as well as micro-enterprises and SMEs which are not allowed to operate during the Movement Control Order (MCO). He mentioned that this will benefit up to 5 million people.

In essence, it’s a choice of NOT needing to pay any monthly repayment for 3 months or a 50% repayment for 6 months. What would be the choice for most of these affected businesses and people who lost their jobs?
If you like to read an article, this is one in AstroAwani.

If we lost our job, opting for moratorium for 3 months may be a good option

We could use these three months to somehow get back a job as well as moving into a job which is in the industry allowed to operate. Here are all of them:
These remain open 1st June to 14th June
 Without the need to pay a big home loan, we could at least survive with savings. This is not the time to add to the stress of trying to find enough money for food and enough money for our home loan. This may also be that time to strategize if we truly need that big car or a cheaper one or whether we need two cars or just one.

If we did not lose our job, paying just 50% for the next 6 months can be an option

Just remember that if we did not lose our job, we could also choose this 50% lower repayment for 6 months so that we could also conserve some cash for unforeseen circumstances. HOWEVER, we must not take this option if we are just going to use the savings to buy things online. We could also use this 50% savings every month and move it to some potential investments too. This is especially if the investment may have returns which are higher than the loan interest which we were paying currently.

These options are optional. It’s not compulsory.

If we look at just the unemployment numbers, we do realise the number is still high if we compare this to the few years before Covid-19 arrived. It’s 4.8 percent unemployment in March 2021. However, this number is not on a rising trend if we compare this to 6 months ago. In fact the number has started to stabilised and trending downwards albeit very slowly. Thus, if our job is intact, our salaries are still coming in every month, then there is really no need to choose between the two options.

The reason is simple, even the moratorium is merely an extension of the loan. It’s not a reduction of actual loan amount. Delaying it for 3 months, 6 months or 12 months simply meant our loan repayment duration has just been extended. So, only choose one of the two options if it’s truly necessary.

Other details of all the items in Pemerkasa?

Home Ownership Campaign is now extended. I think this will help tremendously as the exemption tries to do two things. To help developers sell properties and for buyers to save from the stamp duty which can be a big amount and may be a hindrance to buy.

For recipients who qualify. This payment will boost demand for goods and services. Good for multiplier effects.

Full slides for Pemerkasa+? Click here.

Vaccination Notice

Please register if you have not done so. If we do not protect ourselves we could not protect everyone else. The only way to lessen the effects of Covid-19 is through vaccinations. Many advanced countries have shown that this is the only way. In the UK, with sufficient vaccinations, the economy is now reopened and even football matches allow for spectators. Let’s aim to achieve this sooner rather than later.

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Pemulih: 2 significant measures and cash for the people

Pemulih: 2 significant measures as well as cash for the people

The total which was announced under Pemulih by Prime Minister Tan Sri Muhyiddin Yassin is RM150 billion. Within this amount, RM10 billion in aid will be channeled towards low- and middle-income households affected by the public health crisis. Let’s look at that after we look at the two measures which many have been asking and speculating; moratorium extension (from 1st one last year) and also EPF withdrawals for members to sustain their daily expenditures.

Moratorium for 6 months

A six-month loan moratorium will be granted to all borrowers regardless of their income group. Muhyiddin said, “With that, I would like to announce with the cooperation of banks that a six-month moratorium will be given to all individual borrowers, including those from B40, M40 or T20 groups, as well as micro entrepreneurs.” The borrower just need to apply and there is no need for any conditions or documents for the application. Applications will begin on July 7.

EPF withdrawal under i-Citra

EPF will introduce a new withdrawal facility called i-Citra where a total of 12.6mil EPF members can make withdrawals of up to RM5,000 with a fixed payment rate of RM1,000 per month for five months, subject to the members’ total EPF savings.  This will channel RM30bil to the people for their daily needs. Applications for this via i-Citra online portal at
icitra.kwsp.gov.my
 starts from July 15, 2021 and the first payment expected to be credited to the member’s account in August.

Cash for the people
 (up to 11 million households)

There will be RM500 increase in the Bantuan Prihatin Rakyat and a cash transfer between RM100 to RM1,400 for as part of the third BPR phase to be disbursed in September.

Poor and middle-class households will also be given additional cash through the newly set up Special Covid Aid (BKC) programme. Hardcore poor households will receive RM500 in August, October and December while singles will be given RM200 in August and RM300 in November.

For households in the B40 income bracket, an additional cash aid of RM500 and RM300 will be deposited in August and December. M40 households, defined as those earning between RM4,850 to RM10,959 will also qualify for the programme, with a cash transfer of RM250 to be given in August, while singles in the same income bracket will receive RM100.

Conclusion

These measures are aimed at giving everyone a breathing space, especially the ones affected by the lockdown. Please do note that many could not work because their business is not considered essential services. Secondly, the cash given directly to the households would ensure the money is spent and this will be very beneficial for the economy. With multiplier effects, the money given out will go a long way too.

Last but not least, the moratorium is aimed to give the borrower some extra time. This is NOT to give the borrowers extra money to spend on gadgets… or whatever mid-year sale events by the online shopping sites yeah. Else, we are looking at double problems; debts from current loans and debts from extra purchases too. Happy understanding.

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