Press Release: IJM Land’s Alam Suria: Fusion Of Nature And Convenience

Imagine a meticulously crafted township within nature’s embrace, replete with the conveniences and all the amenities you require for your daily life. Alam Suria is that dream place home buyers have been searching for, and it is a nature lover’s dream come true with the wealth of natural wonders yearning to be discovered.

The unique self-sustained township is yet another testimony to award-winning developer IJM Land’s outstanding expertise in creating developments while cultivating a nurturing environment for the people and nature. Prime inside this unique self-sustained township is Central Park, a meticulously planned recreational park designated for the residents of Bandar Puncak Alam.

Over 500 trees and 1,290 shrubs decorate the park, and this has yet to account for the lavish and detailed landscaping encompassing the area. The result is a vast and beautiful rendered green space, touched by nature’s breeze and filled with an abundance of community-inspired facilities. This is expected, since Alam Suria with a total of 1,163 acres, has a whopping 13.43% being apportioned as green spaces.

Central Park in Alam Suria, a natural haven tucked in a sweet spot

With a total cost of RM5mil, the 11 acres park is strategically positioned and designed in such a manner that residents have seamless access to it. The Central Park is surrounded by landed houses and future high rise developments, with over 80% of the park space being connected to residences.

Convenience is right at your doorsteps since pedestrian walkways link residents directly to the park, placing them just a 10 minutes walking distance away from it. Jogging and cycling tracks meander within the Central Park, and fitness gatherings are enabled at designated spots with picturesque backdrops of nature.

Bird watching is made easy in an untouched environment replete with flora and fauna. Those who enjoy the breezy afternoons can ride the wind with their kites. Facilities are plentiful, such as the children’s play area, skate park, multipurpose courts, benches and gazebos, all designed to foster a harmonious community.

Universal design has also been incorporated into the park, with wheelchair ramps being installed at specific locations to facilitate the disabled. The cream of the crop is the open-air amphitheatre, designed specifically to host community-related activities. All these recreational elements point towards IJM Land’s drive to create camaraderie among residents and neighbours alike.

Despite the complexity and sheer size of the park, only a year was taken to complete this masterpiece. As of now, IJM Land has amassed a green portfolio like no other, having made 77 acres of parks and lakes in its township developments.

The creation of the Central Park is another notch in IJM Land’s string of impressive successes, but more than that, it is one out of the many elements in place to enrich the lives of the residents.

But that is not all about Alam Suria. Away from the central park lies a huge swath of forested reserves. Adventurous individuals can try out the challenging hiking trails at either Bukit Cherakah or Bukit Botak. Those who reach the peaks are bound to be rewarded with a breathtaking view of the surroundings.

“We at IJM Land are committed towards creating homes that bring not only people, but nature together in a harmonious union that benefits everyone. Not only do we build vibrant communities, but we also build a bigger, better and brighter future for society as we thrive to make an inclusive world for all,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM LAND.

Alam Suria redefines conveniences

There’s more than meets the eye where the sustainable township of Alam Suria is considered. The 1,163 acres integrated development consists of a balanced mix of residential and commercial projects and is strategically located within Bandar Puncak Alam.

As of today, Alam Suria has a population of around 28,000 residents, and a further influx of people is expected in the foreseeable future, making it a great investment for owner-occupiers or investors.

The township is accentuated by the holistic range of facilities such as shops, schools, medical centres and a commercial hub set within the landscaped town square. These include Hospital UiTM, Tesco, KIP mall and most notably, the UiTM Puncak Alam campus.

Concerning connectivity, Alam Suria has easy access to Shah Alam, Petaling Jaya and Kuala Lumpur. The township is well linked to highway networks such as the North Klang Valley Highway, Federal Highway, ELITE Expressway, Guthrie Corridor Expressway and LATAR Expressway, among others.

Whether house buyers are nature lovers or simply those who seek conveniences, Alam Suria is a township for everyone, regardless of age, religion and creed. It is a statement towards IJM Land’s everlasting commitment to quality and a strong need to build healthy, loving communities.

-End-

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Alarming development: Housing loan applications down tremendously

In April, many agent friends told me that that agents are staying home since no viewings were allowed during the Movement Control Order (MCO). They are not the only ones, even law firms and company secretary firms were asked to close their offices because they are no considered essential service. As for working from home, not all companies are able to do it yeah. So, without all these stakeholders for the buying property process, of course the loan applications would fall. How much has it fallen? A LOT yeah. Happy learning.

Article in themalaysianreserve.com
  For the month of April 2020, home loan applications have fallen off a cliff; by 72.1% when compared to the same month in 2019. April 2020’s total loan applications was RM6.67 billion versus RM23.88 billion in April 2019 according to Bank nagara Malaysia (BNM) statistics.

Nationally, unemployment spiked to 5% in April and this is the highest since 1990. This increased further to 5.3% in May. There are an estimated 826,1000 jobless Malaysians. Loans for car purchases have also declined from RM642 million in April 2020 versus RM5.99 billion in April 2019. Loan growth is expected to surge in the second half of 2020 because the reopening of the economy has started and government has announced stimulus measures under the short-term National Economic Recovery Plan or Penjana. Please do refer to the full article here:
Article in themalaysianreserve.com

Normalisation is continuing and yes, we do have that worry of a second wave.
However, to have a lockdown of the whole Malaysia is not going to help the nation. We need a much more targeted approach. This is just like the
moratorium which will now be targeted at the one needing it rather than everyone.
We should have learnt from many other countries and continue to improvise so that we could care for the health of the people and the economy.

As for the property market, I continue to have a good feeling for it. I do think the number of buyers who could still afford to buy and wanted to buy remains strong. What we need to do is just to give them the right information so that they could make their decisions. Just to share that I went to view some projects in Rawang 2 weeks ago and every sales gallery I visited has potential buyers.

All are landed properties and some are gated and guarded, some have club houses and some have designs which my wife likes. Haha.   I
visited these: BRDB’s Tamansari
,
Low Yat Group’s Bandar Tasik Putri
,
Mah Sing’s M-Aruna,
Glomac’s Saujana Rawang
,
Scientex’s Kundang Jaya
 and
Guocoland’s Emerald Rawang
. Happy visiting them too if you think Rawang could perhaps be a place to buy a home. No need to mention to them you saw their names in kopiandproperty.com, we do not have any affiliate marketing programmes with them.

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Alarming? Huge losses for airlines?

Just a few days ago, a good friend who’s a manager and an avid investor (stocks and property) reiterated that we need to look beyond the current happening in order to really understand the investment potential, whether it’s stock market or the property market. Even though we were drinking at the time, I think his message was loud and clear. It’s our analysis and conviction that will yield us potential profits. If we just follow the market, then of course what the market earns / loses, that what we earn or lose.

Airlines all over the world are suffering. No flights means no revenues. No revenues mean depleting cash reserves (if they have one) or the need to obtain financing.
(By the way, even the mighty Singapore Airlines asked for money, okay?)
 . Stop all the rhetorics that the whole world seems to be doing well and only the business entities in Malaysia are doing badly. So, there was this news about Air Asia losing money, I mean HUGE MONEY.

Article in themalaysianreserve.com
 . AirAsia X Bhd posted a net loss of RM549.7 million for the first quarter ended March 31, 2020 versus a net profit of RM43.33 million in the same quarter last year. Revenue fell 21% to RM924.09 million as seat capacity and the total number of passengers carried decreased, the company said in a filing with Bursa Malaysia.

Group chief executive officer Nadda Buranasiri COVID-19 outbreak has affected it. He said, “AirAsia X Malaysia scaled down flight frequency to all markets in several phases beginning with China in February.” Air Asia X had undertaken a temporary hibernation of fleet under the AirAsia X Group. For full article please refer here:
Article in themalaysianreserve.com

The questions include some thoughts of mine here. Do not ask me for the answers, I have mine and you have yours. I give you the questions. Will people travel again when they feel it’s safe enough to travel and the countries reopen their borders? Or is this the end, everyone would now only be travelling within their country forever? Will all airlines be closing down and all the pilots move on to do other jobs instead? Will all airlines be closing down, even those perceived to be strong regionally? Will some airlines be given those lifeline money to survive and be ready to fly again extensively as soon as the international borders are open?

Or do you DARE to fly some new airlines without much experience in the future? Nope, I do not own a single unit of airline stocks today though long time ago, I used to have those of Malaysian Airlines. Happy understanding that perhaps buying that stock is not just about the current situation. Cheers.

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Alarming? Recession first in 2020, then only recovering in 2021.

Remember the recent assessment on the Malaysian economy just a while ago?
Q1 GDP may be negative yeah
 Expectations from two local bank analysts are that it’s a negative Q1 for 2020. One says it’s as bad as 1.1% while another says it’s a negative 2.8%!  As for the whole of 2020, this was one latest prediction. Still positive and it’s by Moody’s. It says GDP for Malaysia for whole of 2020 will come in at around 3%.
Moody’s GDP Malaysia at 3%

If you think that was still very optimistic, here’s a latest one which says Malaysia’s 2020 GDP is likely to be falling into a recession in 2020. Briefly, recession means total GDP for the full year is negative. Technical recession means two consecutive quarters of negative growth. FYI also, it seems that the panic buying where so many people rushed to buy so many weeks of supply has not helped the GDP much.

Article in themalaysianreserve.com
 . The World Bank Group in one latest assessment says that the Malaysian economy will contract by -0.1% for the whole of 2020 and this is a huge decrease from its earlier projection of 4.5% growth. Total recovery is expected only in 2022. Its lead economist Dr Richard Record said, “It really depends on whether the pandemic will get worse or see gradual recovery. Our baseline scenario is an anticipated recovery in the fourth quarter this year (4Q20), whereby the economy will then bounce back in 2021 with a 6.4% growth forecast.”  Record said that the RM250 billion stimulus package is the right medicine to preserve the structure of the economy.

Putra Business School Assoc Prof Dr Ahmed Razman Abdul Latiff said, “Malaysia is a net exporter country and thus heavily dependent upon external demand for its products and services. When the whole global economy is experiencing lower business activities, it will definitely affect Malaysia’s exports.”   He added, “Most important is to revive the economy during 2H20 through targeted fiscal stimulus packages and aggressive efforts in identifying potential new revenues and reducing unnecessary expenditures.” For the full and comprehensive article, please refer to
Article in themalaysianreserve.com

By the way, all projections are based on the fact that COVID-19 pandemic remains out of control and most countries to continue to struggle with the lockdowns, partial lockdowns and even just the usual close this shop and close that shop and social distancing. Truth is, it still affects consumption and thus the economy as a whole. Imagine everyone working from home for example, of course the shops whether they open or not will still not have any customers.

For now, what we could do is to stay at home, hopefully the COVID-19 will soon stabilise and the recovery of affected patients start to overwhelm the number of newly infected patients. Now, that would give all analysts something new to think about. When will this start to emerge, well at the very least, a clearer sign will only be seen by end of April 2020 yeah. Happy following and please take care.

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Press Release:
Alea Residence: Low-rise Comforts Reimagined

Myra Alam’s Alea Residence promises a life of convenience and simplicity through New South Wales-inspired elevated living.

Our homes are our happy spaces. There are places where we get to unwind after a long day, make memories with our loved ones and just generally forget about the hustles and bustles of life. A trip back home can bring joy and serenity to our lives or sometimes doom when we think about issues such as convenience or lack thereof.

Which brings us to the question; how convenient is your current home in terms of location, accessibility, and amenities? Do you feel safe in your environment? Does it match your bank balance, and are you getting your money’s worth? These are all big questions, especially when looking for a home, but fortunately for us, Myra Alam’s Alea Residence might be the answer you didn’t know you needed.

Located in Puncak Alam, which is one of the popular towns booming thanks to its strategic location and connection with highways such as DASH, LATAR, and Guthrie Corridor Expressway, it has become a hub for many developers seeking to expand into various projects in the area.

Final phase in Myra Alam

Alea Residence, the last phase of the Myra Alam township development, promises future homeowners a new scenery and way of living unlike anything they have seen before. It features unique landed home features where you will enjoy the perks of living in a landed house while being elevated. That means saying goodbye to tedious trips from the car park with heavy bags of groceries all the way up to your floor or waiting for a busy elevator as the car park and your home will be on the same level.

Alea residents also have access to stunning exclusive facilities for the only low-rise courtyard apartments in Puncak Alam, which features three courtyards: Kinetic, Serene, and Gala. Each courtyard has been named according to the facilities it represents, and as such, Kinetic emphasises movement and motion and has a badminton court, playground, daycare, and reading room.

Serene, as the name entails, is all about relaxation, which features a twenty-five-metre pool, a children’s pool, and a gym overlooking the pools. Gala overlooks celebration and houses the multipurpose hall, BBQ pavilion and open lawn. In addition, the residence also has a landscaped pond with facilities such as a futsal court, a jogging track and a trader’s hall, which can be used by residents who want to open a small business in the community.

The courtyards are between the four residential blocks and are furnished with pristine landscaping for the residents’ view. Additionally, the extrinsic facilities will foster great relationships among the residents leading to a closer-knit community.

Details of Alea Residence

With a GDV of RM157,718,400, Alea Residence has a total of 364 units across 5.92 acres. It has four blocks with four types of unit plans, namely, Arctic, Bastion, Colossal and Universal, ranging from size 861 sqft to 1,055 sqft, with two to four-bedroomed apartments. Homeowners can choose a space that fully caters to their individual needs, from singles, new couples, small families, larger families with 2-3 kids, people who enjoy resort-style facilities, and those looking to upgrade to a landed house but can not afford one.

Arctic Home plan features a 2+1 bedroomed unit with two bathrooms across 861 sqft. It’s closest to the lift and has a yard large enough to be converted into a space for laundry and a wet kitchen to cook. It is best suited to single people or newly weds where it boasts a spacious master bedroom and an additional room that can be turned into a home office or study.

Universal Home, which is the same size as Arctic Home, was designed with the OKU in mind. It has two bedrooms and two bathrooms, located on the ground floor with its parking unit right outside of their home. Since it was designed for the OKU community, it has larger hallways and wheelchair-accessible areas that have been fitted with ramps and accessories to suit their needs. The Universal Home also has a walk-in closet in the master bedroom for easy accessibility.

Bastion Home, whose main aesthetic and vision are; “fortified with balance”, is 937 sqft in size and has three bedrooms and two bathrooms. The master bedroom and the other two bedrooms are positioned on two separate ends, giving the inhibitors private and personal space away from each other.

With four bedrooms and two bathrooms on a 1,055 sqft unit, Colossal Home simulates vastness and unlimited space as it is the largest unit in the entire development. This unit is built for larger families with young and grown children, and the rooms are separated into different wings; hence, there’s more privacy for the main bedroom and bedrooms 1, 2, and 3. It also has a larger guest bathroom with a powder room and some units located in the quieter and more private area of the development.

Akil Kalimullah, Culture Chief of Myra, shared, “Everyone is always looking out for landed homes, but we wanted to change this perspective and bridge the gap between landed and high-rise. That’s why we came up with the concept of elevated living with a low-rise apartment and same-level car park. It matches the feel and experience of living in a landed home with our homebuyers, which is precisely what sets Alea Residences apart from landed homes, townhouses, and even high-rise projects. Our inspiration was to have a touch of Australia’s low-rise residential home designs brought back to Malaysia. By incorporating New South Wales’s urban vibe, we added a refreshing outlook to low-rise homes, clean lines, spacious layouts, and minimalist aesthetic.”

Find out more about their latest developments, practical tips and advice involving property and finance, follow Myra’s profile on Facebook, Instagram, and Twitter. For more information, visit

www.myra.com.my
.

-End-

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On cloud nine with Alibaba Cloud’s decision

I start with this statement, “According to the research study, the global
Cloud Computing Market
 was estimated at USD 321 Billion in 2019 and is expected to reach USD 1025.9 Billion by 2026. The global
Cloud Computing Market
 is expected to grow at a compound annual growth rate (CAGR) of 18% from 2019 to 2027” Please do read the
full article here: globenewswire.com
  Okay, now that we know “Cloud” is something super big and that it’s not the clouds we see on the sky, let’s move on to the latest news about Alibaba Cloud.

Article in nst.com.my
  Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has announced that it is to launch an Alibaba Cloud Innovation Centre here in Malaysia. This will be its first international innovation centre located outside of China.

Besides launching the innovation centre in Malaysia, Alibaba Cloud will also invest US$1 billion (RM4.145 billion) in funding and resources within the next three years as part of its Project AsiaForward, which aims to foster one million digital talents, empower 100,000 developers and accelerate the growth of 100,000 tech start-ups across Southeast Asia and Hong Kong.

Alibaba Cloud Intelligence’s general manager, International Business Unit, Selina Yuan said, “Alibaba Cloud is committed to investing into Malaysia’s digital future. And opening our first ever international innovation center in Malaysia, is a testament to our longstanding commitment to the country.”  Please do read the full article here:
Article in nst.com.my

By the way, I have no idea how huge this would be

I am serious, I do not know how big this would be.  However, it says that it will be fostering 1 million digital talents and 100,000 developers. We assume only 10% of these would be in Malaysia and we are looking at skills upgrade or even new skills for many Malaysians who are up to it. With the right skills, comes opportunities. This is why it is very critical that we continue to learn and keep ourselves updated with new skills. Oh yeah, when we have the skills, then we are equipped to grab the demand for such professionals by the market.

Alibaba Cloud as a company?

Article here in zdnet.com
  “The Chinese technology giant’s cloud business, Alibaba Cloud, reported revenues of $2.47 billion, an increase of 50% year-over-year. This is the first time Alibaba has reported positive adjusted EBITA — an indicator of profitability — and the firm cited “the realization of economies of scale” as the reason.”

Revenues of US$2.47 billion is around RM10.15 billion. Clearly, this is not a small company and it’s a confidence booster to the market since it’s opening up its first innovation centre outside China here in Malaysia. Happy following and forwarding a bit. Enough of forwarding just bad news about Malaysia okay? Cheers.

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e-wallet Malaysia: Just our smartphone and NO more wallets?

A few weeks ago, a close friend went to Shanghai and came back to tell me that her credit card was virtually useless. Even cash was not widely accepted. Everything was E. As soon as she stepped out of her hotel, it was E-payment for taxi, E-payment for restaurants, E-payment for shopping, E-payment for everything! In fact to pay back to colleagues, only the smartphone is needed! I am not so sure how Visa and MasterCard is feeling now but China is already in a different league today. Of course these days, even in Malaysia, it’s usually just wave or entering the pin when we pay via credit cards. Anyway, when nearly everyone I know in Malaysia has a smartphone, it meant that E-wallet should not be that far behind, using the smartphone as an intermediary, right? I would like it if I could use my smartphone when I pass the Touch ‘n Go instead of always thinking if I have enough balance in my Touch ‘n Go card. My wish may just come true in the near future even if it may not start from the toll booth.

The full article about how CIMB’s subsidiary Touch ‘n Go will partner
Alipay to launch e-wallet is in TheStar today.
I did not even know Touch ‘n Go is CIMB’s subsidiary! I think this is a huge advantage to CIMB but speed, width and depth will be key. In the article, it was mentioned that there were already 17 million Touch ‘n Go cards issued today. (I personally have 4 though) An industry player said this, “The tie-up will also create new business opportunities for companies to create applications that utilise this new e-wallet.” In brief, E-wallets are typically made up of an application that resides on one’s mobile device, which then can be swiped over a QR code at a merchant’s location for payment of goods or services. To top up, users just need to use the online banking facilities in Malaysia. (And we carry smartphones everyday…)  If Touch ‘n Go e-wallet is launched nationwide, it will enable payments to be made electronically and this is not just for the malls but also very small merchants such as night market vendors and tea stall operators. (Seriously, these vendors and operators may like it more instead of carrying a few thousands of ringgit after they close their stalls at night. Imagine the danger)
Do read more in the article here.

I feel that carrying cash is really not friendly at all. Most of my expenses these days are already carried out through credit cards. I have not been to a bank for a very long time because everything could be settled online. I would also love to travel to foreign countries without worrying too much if the money changer has enough foreign currency for me. I also hate to compare the rates because it may cost me more money to park my car and ask for the rates versus just taking the one that is most convenient to me first. e-wallet would herald a new era for Malaysia. Moving forward is a must, just as cheques are already being phased out slowly. I am very sure when Chinese visitors come to Malaysia, they may prefer to just use what they are already using in China instead of ‘downgrading’ and start using cash again. Besides everything could be tracked and traced back. Money stolen or misplaced would never be recovered. I personally look forward to days when my smartphone is all I need for shopping.

written on 24 July 2017

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All About Numismatics Auction (AANA) 2018 is here.

[Sponsored] The banknote shown on the left will be up for auction on 1st December 2018 here in Malaysia. One similar piece (newer) was auctioned off at HK$950,000 (RM507,000) in a
Spink Auction. (Click to view that item in Spink.com)
 This was the comment in the Spink site:
“Extremely rare in any form and especially in its natural condition and virutally no problems. A visually attractive note and missing even in the most advanced collections. The cataloguer cannot recall any instance this note was offered in a public auction within the last 20 years. A once in a generation opportunity.”

A close friend told me that this will be a great place for banknotes, coins and more. Introducing the inaugural
All About Numismatics Auction 2018 by TEN Auctioneers Sdn Bhd.
 This auction event will be held on 1st December 2018 in Armada Hotel, PJ. (Room Arcadia, Level 3). There are over 500 lots of numismatics items ranging from less than RM100 (for all new collectors) all the way to over RM100,000. (serious / seasoned collectors)

Special highlight. The RM600 Majlis Raja-Raja (MRR) commemorative notes which are still hot in the market starts from a reserve price of RM1,700 and that too for a repeater number of MRR0001313. RM60 MRR000XXXX meanwhile starts from a reserve price of just RM120!  Register by sending your name, contact and email to
cs@tenauctioneers.com
 to get a copy of
AANA 2018 auction booklet worth RM30 for free!
 More details please refer below:

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All the countries are worst compared to the U.S. economy? NO!

During lunch today, my colleague said better change more Ringgit into other currencies first. Ringgit will continue to depreciate. I disagree and repeated, ‘US$ will continue appreciating at least until their direction is clearer or after the rates have risen.’ Ringgit is way too small a currency to defend against all these huge movements. Fortunately, our Bank Negara has proactively managed this. Then, I read this piece of news in NST. This is what IQI Group Holdings Chief Economist /Investment Strategist Shan Saeed said about the ringgit. You can read the
full article NST here
 or all his reasonings below for ringgit and Trumponomics.

Greenback is getting stronger due to ‘Trumponomics.’ “Trumponomics describes the economic policies of Trump. He is an entrepreneur and he knows how to play his cards.

“The US dollar is gaining strength and investors are moving funds into the greenback. It is as simple as ‘ABC’. The yield on the US 10-year Treasury note has jumped from 1.37 per cent to 2.36 per cent in just four-and-a-half months”

“I strongly believe the ringgit will soon stabilise and appreciate to the level of 4.20 to 4.30 (against the US dollar) within this month or January next year. What is more, the benchmark for oil prices has started trading above US$53 per barrel.”

“If you were to look at the chart for Nov, the Indonesian rupiah declined 3.7 per cent, the Philippine peso fell 2.7 per cent, the Singapore dollar is down 2.5 per cent, and the Thai baht lost 1.5 per cent. “Does the currency chart mean that all these governments are bad, or their policies are wrong? The answer is no! “It is because the US dollar is gaining strength and investors are moving funds into the US currency due to Trumponomics.”

At least I am not alone in my personal views about Ringgit and US$. His final parting comments should be the best. I think it is aimed at Malaysians who has forgotten that fundamentals cannot suddenly change in 2 weeks. This is true for all countries and not just Malaysia. By the way, to those who still believe Malaysia is about to go bankrupt, good night and hope after tonight you can say some positive things instead. Cheers.

written on 2 Dec 2016

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Already MOST unaffordable but prices will continue rising?

Which is the most unaffordable property market in the world today? Hong Kong. Who said so? US-based Demographia based on their survey. According to them, Hong Kong’s median hoe price was more than $S4.02 million compared to the median income which was only HK$270,000. Few weeks ago, Malaysia was said to be severely unaffordable at 5.5 times. (Median income to median house price). For Hong Kong, this is nearly 15 times. How should we label them? If you think due to this, Hong Kong is poised for a bubble bursting, think again. According to real estate professor Eddie Hui Chi-man of Polytechnic University,  property prices would continue to increase for the next 2 years because new housing supply will not increase significantly until 2016. This is based on statistical numbers. He said, ‘It’s impossible for salary income to catch up.’ One key reason was because the government did not increase the land supply and the Home Ownership Scheme for flats was only restarted in October 2011, after a 9-year absense.

How expensive is expensive? Well, in Hong Kong, due to the extreme high prices, the new flats being ordered these days can be as small as 160sf!! Yes, 160sf. Demographia said for housing to be affordable, the house prices must not exceed three times the median salary. Anything higher needs intervention from the government with respect to the land supply, infrastructure planning, provisioning and financing. I think this is already being done actively by Singapore via its HDB programme. In terms of success? Well, perhaps due to this, Singapore’s median home price is still at 5.1 times versus gross annual median household income. Without the intervention, perhaps Singapore would be closer to what Hong Kong is experiencing?

Personally, it’s not hard to understand when the population is increasing and the land size remain small, the prices go up. However, another reason why prices go up may also because of the sudden increase in demand while supply did not increase fast enough. Thus, when supply catches up, the prices would stay stagnant or even decrease. However, when it is not an island why do house prices increase? The main reason is thus the popularity of a certain area versus others. It’s not even necessary be close to the city centre! Just that feeling when you are driving in your neighbourhood. Thus, it’s much harder to control these ’emotions’. That’s why prices will continue to increase for popular areas even when more affordable units are built. In fact it will increase until everyone who can afford them has bought one unit somehow or somewhere else. We shall see. Happy buying, OBJECTIVELY.

written on 23 Nov 2014

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Demand vs Supply, Location and Price, Your Decision.

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Press Release – Additional alternative route to Bandar Puteri Puchong

The Bandar Puteri Puchong Interchange (BPP Interchange) – currently undergoing expansion and upgrading works – is closed to traffic coming from Putrajaya, Shah Alam, Putra Heights and USJ since 23 September 2017. The RM20mil project, which is wholly-funded and constructed by IOI Properties Group Berhad (“IOIPG”), is set to enhance connectivity of the township and improve traffic flow between Lebuhraya Damansara Puchong (“LDP”) and Bandar Puteri Puchong upon its completion. Since the commencement of work, alternative routes had been identified for the convenience of road users. In view of the ongoing works and to further enhance traffic flow, IOIPG has engaged with Lingkaran Trans Kota Sdn Sdn (LITRAK) and an additional alternative route has been identified for the benefit of road users. The latest traffic management plan which includes the additional alternative route is as follows:

Traffic from Putrajaya, Cyberjaya, Seri Kembangan and Puchong South • Exit LDP at the Puchong Utama interchange into PersiaranTasik Prima • Make a U-turn at the roundabout into Persiaran Tasik Prima • Go straight to Puchong Utama interchange and continue straight into Jalan Puchong Utama 1 • Turn left at the junction into Jalan PU 1/1 • At traffic light junction, turn left into Jalan Puchong • Turn right at the next junction into Jalan Bakawali that will lead to Persiaran Puteri (see Traffic Management Plan D) Please refer to Appendix 1 on alternative traffic routes. The interchange is currently serving the 1,000-acre Bandar Puteri Puchong township with a population of an estimated 11,500 residents and a thriving business hub of approximately 600 shop offices, 4 office towers at Puchong Financial Corporate Centre (PFCC) and Four Points by Sheraton Puchong. Bandar Puteri Puchong is a mature township complete with excellent infrastructure including two light rail transit (LRT) stations namely Stesen Taman Perindustrian Puchong and Stesen Bandar Puteri, interconnecting roads to its neighbouring developments including Taman Wawasan Puchong, Puchong Hartamas and Puchong Utama, and with multiple connection to LDP. Road users are advised to follow directions on signage placed along the alternative routes to get to their respective destination. For enquiries and updates, please refer to our community website,
http://www.myioi.com
 or corporate website,
http://www.ioiproperties.com.my
. Alternatively, kindly contact our Customer Relations Unit at 03-8064 8833 or email
cru@ioigroup.com
 from 9am to 5pm on Monday to Friday for assistance.

Artist impression of the upgraded Bandar Puteri Puchong Interchange scheduled for completion by end-December 2018.

-END-

IOI Properties Group Berhad Spanning more than three decades in the property development industry, IOI Properties Group Berhad (“IOIPG”) is one of the leading public-listed property developers in Malaysia. Over the years, it has successfully developed sustainable townships and commercial enclaves in sought-after regions of Klang Valley such as IOI Resort City, Bandar Puteri Puchong, 16 Sierra and Bandar Puteri Bangi; and has established a strong presence in Penang (northern region) as well as Johor in the southern region of Malaysia. In the international scene, IOI Properties has achieved notable success in Singapore and the People’s Republic of China. Apart from being an award-winning top property developer, IOIPG is also known for being one of the few integrated property developers that builds and manages its investment properties such as hotels, golf courses, shopping malls and office buildings. The Group has a total development landbank of approximately 10,000 acres. Under its investment property portfolio, it manages a total of 6.7 million sq. ft. of lettable area, comprising retail, purpose built office and others. These properties are mostly located in high-growth areas, which are wellconnected, accessible and are centred within high population concentration. The Group owns five hotels with 4- to 5-star rating offering a total of more than 1,800 keys namely Putrajaya Marriott Hotel, Palm Garden Hotel, Four Points by Sheraton Puchong, Le Meridien Putrajaya and JW Marriott Hotel Singapore South Beach. The Group’s golf courses include Palm Garden Golf Club in IOI Resort City and Palm Villa Golf and Country Resort in Johor.

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

For media enquiries, please contact:

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

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

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GST, the cause of everything negative today.

An old friend told me that the coffee he is drinking together with me has GST. He said poor people will find it very hard to cope. Actually I have explained before but I think I will just let him be my good old friend instead of trying to debate. I will write instead. Actually, until today, GST is never the main issue. Even if the current government changed in Election 2013, GST would still happen. The question is only when is the best time. The best time is when the whole nation is full of people who would welcome GST because everyone would have enough to spend on things they want, enough to buy anything they desire and enough money to pay GST. True? If true, it meant GST will be implemented in the year 3030.

Yesterday morning, I went out for breakfast at a food court in Ipoh. The cup of kopi susu costs RM2. My mother’s plate of Wan Tan Mee was RM4.80  Today, we went out for breakfast and we tried a new place. It was packed and when my kopi susu arrived, it was RM1.70 My mother still ordered Wan Tan Mee and today it was only RM3.70  Portion was the same and the vegetable was even more today. Tell me why should I go back to the place with RM2 kopi susu? Is this also due to GST? It has nothing to do with GST. It’s only everything about greed for higher profitability. Oh yeah, fyi, these two places are only 800 metres away from one another. Both usually packed with people.

Let’s use actual number instead. I would like to exaggerate the ability of a typical Malaysian here in Malaysia. Assuming everyone is rich enough to spend RM2,000 per month on groceries and food and every single cent from this RM2,000 was spent on items with GST.  Thus, RM2,000 x 6% GST = RM120 x 12 months = RM1,440 per year. Still remember what’s the price of petrol then versus now? Yes, the savings would be more than enough to cover this. For those who have decided to buy Samsung 6 or iPhone 6, you have no right to question GST because there are cheaper and better alternatives. To those who just happened to buy a new car, most of the brands, you would notice the savings from the car price would have covered this RM1,440. To those who bought a property, do you know that because of GST, the sentiment becomes even more negative and developers are much more willing to sell cheaper? Just look at all the announcements from all the top developers who say they are developing affordable properties. Did you ever see them saying that in 2012? Again, RM1,440 is easily covered. When you shop, take a look at the house brands versus your usual brand and you would notice at least a 20 percent difference most of the time. Taking back the same example above, well, 6% GST vs 20% savings if you could just change brand. Assuming you change just HALF the brands?

Understand what is GST. Then, read more and understand more about financial planning and investment. Savings is a great virtue to have and is a must for a good foundation. However, investment is the ONLY way moving forward because savings may not save us from inflation and the irony is, inflation is normally higher during years when economy is doing better and it is lower during years when economy is worse. If we can, do not aim at breakeven with inflation. Aim at exceeding effects of inflation through investing. If however what you are ‘investing’ is something you do not understand, then that’s ‘gambling’. For that, I wish you all the very best.

Last but not least, support whoever you want but never be blind, deaf and dumb. Yes, I hate MANY things and PEOPLE and I would like to improve many things today in Malaysia. The reason why I hate both sides is because both sides have all these blind, deaf and dumb supporters. Always support based on issue, not based on the logo. Then only would Malaysia have better quality politicians and not those currently who are party first and Malaysia second. Yes, I support GST for Malaysia even if the implementation could have been improved tremendously. Still think GST will ‘kill’ you? I think your new iPhone or your new Samsung phone should have ‘killed’ you first based on the same argument of having to spend more these days. Yes, my one Starbucks per week remain and I have no choice but to pay GST for it. Will try to earn a bit more I guess since I do not qualify for BR1M.

written on 1 April 2015

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Move aside American billionaires, the Chinese ones are now ahead

Did you know that there are 537 billionaires in the US? In US$ terms. Yes, they have been number 1 in terms of number of billionaires for as long as anyone could remember. However, the US billionaires where total is concerned has been overtaken in terms of number of billionaires from China this year. The mainland has 596 US-dollar billionaires. There are 119 billionaires in Hong Kong and Taiwan combined. This is despite a slowing growth in China. The survey was done by a wealth ranking company called Hurun Report.

Oh yeah, next year may be an even smaller number 2 for the US because the survey also showed that there are another 1,877 mainland entrepreneurs who are worth at least 2 billion yuan (HK$2.43 billion). Imagine if just 20% of these doubled their wealth? A large proportion of the entrepreneurs in the list were involved in the manufacturing and IT sectors. In 1999, when the ranking first started, half of the top 100 Chinese tycoons were from the property industry but that has dropped to just 16 percent this year.

According to Hurun Report founder Rupert Hoogewerf, one major reason for this is due to the remarkable rally in stocks where despite the sluggish economic growth the number of tycoon numbers are increasing to the highest in history. 20 percent are women. Within the list, there were also 16 entrepreneurs born after 1980 who built their wealth through their own companies and not inheritance. It was not mentioned how many of these were due to the internet but I think the numbers would be huge considering their age.

It’s increasingly easy to note that the growth is fast becoming ASIA centric as the US slowly lose all of its leading positions among all these wealthiest list etc. In fact even where currencies are concerned, according to one recent report, the Chinese Yuan is already a top 5 most used currency in the world, behind the few that it would overtake within just a few years I believe. The top currency may be harder to dislodge, the US$. China will also be launching its China International Payment System by end of 2015. That’s a real ‘currency changer’ thought indeed.

written on 17 Oct 2015

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China’s economy, the main anchor to all

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Bad news. Millions of Americans may face eviction soon.

Millions of Americans may face evictions soon. Deadline is tomorrow.

This is the full article as
per themalaysianreserve.com
  Millions of Americans could find themselves homeless starting Sunday when a nationwide ban on evictions expires.  This wave of evictions come as rental housing is in high demand in the hot real estate market.

US President Joe Biden

urged Congress to extend the 11-month-old eviction moratorium, after a recent Supreme Court ruling meant the White House could not extend the measure through September as intended.

The Centers for Disease Control and Prevention (CDC) ordered the eviction moratorium in September 2020, as the world’s largest economy lost over 20 million jobs amid the pandemic shutdowns. The CDC feared increasing homelessness would boost coronavirus infections.

With businesses able to reopen, more than half of those lost jobs were recovered. However, many families still have not caught up on missed rent payments. The Census Bureau’s latest Household Pulse survey through the first week of July showed that of 51 million renters surveyed, 7.4 million were behind on their rent and nearly half of those said they were at risk of being evicted in the next two months. The article is a very long one and provides even more details.  Article here yeah:
themalaysianreserve.com

Moratorium is on eviction, not on mortgage payment

The reason it’s on eviction and not mortgage is because these people were renting and not paying a mortgage. However, what has happened is that the eviction will start happening this Sunday (tomorrow) because the court has not allowed for extension and most states are also not having their own protection for these renters from being evicted.

This article is not to discuss how lucky we are versus many of these Americans but this is to remind everyone again that when we could, it’s best to buy and start paying mortgage versus renting. Yes, rental seems cheaper but the issue is that all the extra savings we have from the difference in renting versus buying, we spent it all.

When unforeseen circumstances happen, we suddenly realise that whatever rental we paid no longer belong to us. Not even a single cent. Anyway, all the best to these millions of Americans. Hopefully, there is a last minute measure by the American government to extend this eviction protection for a few months. Let’s see what happens tomorrow.

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Yes, our monthly mortgage is now even lower! oops.

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Ampang, affordable high-rise or Gated and Guarded

I drove deep into Ampang two years ago to view a terrace home project which was slightly above RM500,000. It’s a gated and guarded project. It took a very long time, with all the traffic lights and the crawling traffic. I was driving there from Kelana Jaya. After viewing it, my wife said she did not like it. Since she is the one who will stay home most of the time, she has the final say. A few months later, I drove into that area again for a badminton game and this time, the trip took me just 25 minutes from office. Well, it does not seem that far or jammed anymore. Sometimes, timing is very important. If we would like to stay in areas prone to jams, then just get ready to change the lifestyle a little. Going to work earlier and coming home later might be the usual schedule. Anyway, this is KL, most of all areas are prone to jams. 🙂

What are some of the available high-rise for below RM500,000? Well, I could find a few condo listings in property guru.com.my  Take a look at the image. My focus is only on 1,000sf or around there. This size is comfortable enough for a family of 4. I always believe that due to the many negative news about the crime rates, it is better for me to buy a place which has security versus one without today or in future. We can clearly see that landed property within a gated and guarded environment carries a much higher premium compared to one without. Whether crime rate is increasing or decreasing, it does not take away the fact that all of us would prefer a potentially safer home for our loved ones.

Oh yeah, the project that I went to view? Ampang Saujana. Latest prices? Here, take a look at what I found in iproperty.com.my The prices has gone up within the past 2.5 years. IF ONLY I bought it? Haha. There’s no if only. I bought something else and my family has been enjoying our stay for the past one year after moving into Armanee @ Damansara Damai. The happiest? My daughter who’s asking to swim in the swimming pools or the playground everyday. As for those who are still thinking of gated and guarded and willing to change lifestyle as well as drive deep into Ampang through some slightly narrow roads and jams everyday, this might be a choice. Happy choosing and enjoy your choice.

written on 9 July 2015

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Must stay in KLCC area? Don’t wait. Buy now

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An Update of the RM299,000 condo in Penang. ‘Short cut’ offered.

Earlier, when I wrote about this:
800sf CONDOMINIUM for just RM299,000 – Better be quick
 it garnered a few thousand views within hours. This is an update. It seems that there are people who are trying to cheat applicants for these units of affordable properties. The modus operandi is that they will tell the people planning to buy these affordable units that they can get it if they pay bribes of between RM10,000 to RM30,000. Penang state executive councillor Jagdeep Singh Deo said that should the buyers receive such offers, they should lodge a police report immediately. The reason being, all the applications for the affordable units will be vetted by the eight-member panel in the Selection Process Enhancement Committee (SPEC) and this panel does not ask for any payment to secure the units.

This is a follow up from the developer’s complaints that some buyers are telling them of the existence of such a deal being offered. Yesterday, Aspen Group, the developer of Tri-Pinnacle, the affordable units lodged a police report. Tri-Pinnacle is a high rise project consisting of 1,247 units of affordable and low cost and low medium-cost units. These units can only be bought by first time home buyers whose household incomes meet the criteria set by the state government. Thus far, the state has received 5,721 applications from last year till 3rd July this year for the affordable units.

I hope this syndicate members are arrested soon. Personally, to all the buyers if you qualify, just apply. Since the state government promised transparency, there should be any hanky-panky by any buyer who feel that it’s their right to own the units and thus are gullible enough to believe and pay such amounts. For those who DO  NOT qualify, kindly do not try these ‘direct’ routes even if you are offered. Always remember, it takes two hands to clap. If you do not give, then the offer stops. If you know of others giving, report on them. If it is to start, it should start with you. I remember years ago, a colleague said that she offered bribe to the police because she was speeding. She said the police accepted. I asked her, if you are speeding, why not pay the fine? She however said that the police should not accept. Sigh…..

written on 24 July 2014

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If you do not ‘qualify’, please don’t buy

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Analysis Paralysis – we face this all the time

I think I wrote on this subject quite some time back. Do read it here.
Buying a property, away from analysis paralysis
  This time, someone considered more “UP” than me is writing about something similar. I read an article by Mark Reijman, the co-founder and managing director of CompareHero.my and I think it’s good to share his personal 6 tips in order not to have information overload. After all, we have ONE brain and we need to think about MANY things, often at the same time. That’s why some of us may not like some award winning movies requiring a more complex appreciation or even some literature works requiring a deeper reading and analysis. His thoughts as summarized below: My thoughts in bracket, more for property investment.

1) Realise that the seller is trying to confuse you.
(Honestly, for some new launches recently, the rebates or discounts seem to be so huge that it’s a mistake not to buy. Actually, it’s better to understand what should the price per sq ft be and why were we buying instead of just the big $$)

2) Resist the urge to take decisions when you feel overwhelmed by information and delay the decision if possible.
(One example is that after queuing for a certain property launch, we are given just 3 minutes to decide. 3 minutes for nearly half a million ringgit decision? Hahaha…)

3) At the same time, don’t fall prey to ‘analysis paralysis’. Don’t delay the decision after you have sufficient information as there will always be more information out there.
(It’s very important to start reading, learning and knowing so that when opportunities present itself and we are really given just 3 minutes, we can make a better decision since we have spent days, weeks and months earlier……)

4) Take the time to reread and digest all information when it is a large purchase or decision.
(They say, don’t give up the whole forest for a tree. This will be true for a very long time more. New launches are increasing, not reducing. We need to know more. Property is going to be that biggest $ decision for most of us, even for those buying a Ferrari because I do not foresee that person living in just a 1,000 sq ft condo, right? )

5) Find an information source
(such as CompareHero.my for credit cards, personal loans and broadband) that has summarised the information for you.  (It’s so easy to compare these days. Look up that few big property portals and read more. It was so tough previously when there were just newspapers….)

6) Free your head and focus on one thing at a time.
 (Actually when it comes to investments, good to know a bit more because every investment would have its pros and cons and there’s no such thing as high return, low risk. If there are, all of us would already be billionaires and no one would have to work anymore. Oops… stop dreaming)

written on 15 Feb 2016

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Andaman Quayside – Worth listening and considering – Buy or not, decide later

I remembered I wrote about why Singaporeans may want to think about buying Penang. This is because even the middle income Singaporeans can afford to retire in Penang and in style instead of HDB flats. In my previous job, I got to know that E&O project, Andaman is loved by Singaporeans. Recently, my friend told me that they would be launching their next phase for their project in Seri Tanjung Pinang. I have been to their projects numerous times ad in fact my friend, J and his fiancé brought me to his unit which was very tastefully decorated. Seaview and yet was just S$350,000 when he bought it. It is true, S$350,000 is definitely not cheap by Malaysian standards but for a Singaporean earning S$, it is an opportunity one should listen to and decide.

My friend sent me a link recently.
E&O event in Singapore on 1st march 2014.
 She said she will be going to the event and asked me to share out. Since I know the project and I have been there, I think I will share. In fact I have a unit in Tanjung Tokong thus I would naturally support any Tanjung Tokong project. E&O would be sharing this project in Singapore and has invited many prominent property gurus to share about ‘Penang Property Investment’. Agenda as follows:

Schedule:

12:30pm – Registration

1:00pm – The Value of a Branded Development & Why a seafront development in an Island by Mr Ahyat Ishak, CEO & Founder of “The Strategic Property Investor Model”

2:15pm – Property Outlook for Penang Market by Christopher Boyd, Executive Chairman of CB Richard Ellis (Malaysia) Sdn Bhd

3:30pm – Seri Tanjung Pinang – The Seafront Master Planned Development by Ms Christina Lau, General Manager – Head of Marketing & Sales, E&O Property Penang

4:00pm – End

I think for Malaysians working in Singapore as well as for Singaporeans who are thinking about investing in Penang since both share many similar traits, why not spend your time to explore more. Only invest after you have listened and evaluated objectively. Never buy just by hearsay. In fact, after listening, I would encourage you to fly over to Penang, taste the food, feel the sea breeze and touch E&O’s current project. The price is still considered ‘value for money’ when compared to typical HDB flats in Singapore. You increased your retirement funds by 2.6x by just moving over after you are ready to retire. Link to register is below.

The link is here:
E&O’s Andaman Quayside Show on 1st March 2014 in Singapore

Written on 21 Feb 2014

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Penang Property Potential

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Do not miss this. Annual Tax Symposium – Greater Together

Dear kopiandproperty.com readers, this is a public announcement. This is definitely an event of lots of learning and I personally know many of the speakers and they are GOOD! This is the Annual Tax Symposium and it’s themed, “Stand United, We Shall Prevail.”

Message from event organiser:

With the recent tabling of the Malaysia Budget 2021, which is themed “Stand United, We Shall Prevail”, it has echoes the objective of our Annual Tax Symposium to gather strength and ideas in order to overcome the challenges arise under the unprecedented crisis of COVID-19 pandemic.

#GreaterTogether

Join our group of distinguished panel of professionals, industry experts and government representatives in the Roundtable Discussions focus on the Budget evolve around :

1. Rakyat’s (People’s) well-being

2. Business Continuity, and

3. Economic Resilience…

Day 1: Moving Into 2021 with Budget 2021

 Budget 2021 Commentary : The Highlights

 Roundtable Discussion : Budget Impact to SMEs

 Roundtable Discussion : Budget Impact to the Property Sector

Day 2: Roundtable Discussion

 The Latest Tax Landscape and Development in Malaysia

 Admission Fee: Only
RM106.00 per pax
 (inclusive of 6% SST and net proceed will be donated to charity)

6 CPE Point Claimable
 for attended MIA Member (Terms and Conditions applied)

3 CPD Point Claimable
 for attended MIEA Member (Terms and Conditions applied)

Organisers:

 Syarikat Ong Group of Companies

 PEMANDU Associates Sdn Bhd

 MM2H Club Hong Kong

Co-organisers:

 Rosli Dahlan Saravana Partnership

 BT & Associates

 Chew & Associates

 Bizguide Corporate Services Sdn Bhd

 LYH Accounting PLT

 Foo Lee An & Associates

 IMPORTANT NOTE:

For registration and further information, please click
https://bit.ly/36gil3X
.

For any enquiry please Whatsapp us
https://wa.link/skfhvv

LIMITED SEAT! BOOK YOUR SEAT NOW!

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Another caught, when is Malaysia’s turn?

Another real estate agent in Singapore got caught for cheating. Somehow, it’s either they are taking it more seriously, their enforcement is better or their cases got reported while in Malaysia, we have no space for these kind of news? I think majority would say they are more serious and their enforcement are much better. The reason why I say so is because until today, after such a long time that all real estate agents must wear their badges, majority of those having one table and two chairs in supermarkets marketing properties are still NOT wearing one! Come on, surely these agents belong to a certain registered real estate agency and surely these registered agencies would want to show a good example so that there’s a real difference between the registered ones and the illegal and unregistered brokers right? If so, then why not do your tiny part in helping the whole industry? In assuring the public that real estate is a profession to be serious about?

I can safely tell you that I would never deal with any real estate agency which does not enforce the wearing of the badges. I am not an agent, not a developer but I am concerned party and wants everything to be done professionally. Until then, I do not see why the public should pay these real estate agents for their worth. Frankly, if you are a business owner and your staff shows sloppy working attitude everyday, are you sure you are going to keep this guy, pay him more and shower him with bonus? This brings me to the point that I want to make. If the fundamental are not even addressed yet, please do not start talking about ‘more serious’ or ‘better enforcement’. It starts with the registered agencies themselves. No?

Efforts by the MIEA are there without doubt. I saw a taxi banner promoting the use of name tags. The message shown is ‘It’s Illegal and It’s your Fault’. No idea who’s fault were they saying? Agent for not wearing or house buyers for not insisting that their agents wear one? Or for house buyers who used illegal brokers and later got cheated? The fines, the imprisonment was also mentioned too. I think this is aimed at Illegal Brokers who gets caught. They face up to 3 years imprisonment or RM300,000 fine. Certainly not worth that small money these illegal brokers are earning right? Oh yeah, my friend said that out of every legal one, there are 3 illegal ones. No idea on how true is this estimation. The only issue as mentioned remained same. There must be more public relations effort to highlight any illegal brokers caught and fined or imprisoned. Until we have cases highlighted like those in Singapore, illegal broker menace is likely to be here to stay. We have another one highlighted in Singapore. When is Malaysia’s turn?

written on 24 Dec 2014

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Good news for real estate agents, one unlicensed one arrested.

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Another Ipoh new development – The Gateways

There’s a new project in Pengkalan Hulu, Ipoh. It’s called The Gateways. Name sounds good, just like The Gateway @ KLIA2. The total cost is RM50 million and its first phase comprises a duty-free zone, a retail & wholesale fashion mall, a food court and entertainment centre, all on a 5.2ha land. This is 560,000 sf. It’s going to be called Carnivals and the first phase is expected to create 1,000 new jobs as well as business opportunities in the retail and F&B industry. In fact, Northern Corridor Implementation Authority (NCIA) is working closely with the developer for this because currently, there are no such projects in Pengkalan Hulu.

Phase 2 would include commercial buildings like offices, a hotel, a square and a convention centre. Actually, to be honest, without a new airport, convention centre does not work, especially if it is targeted at bigger events instead of the usual 30 tables wedding dinner. For those, just say it is a hall and not a convention centre. For a convention centre, there should be an integrated approach, the state must be ready to support it fully. For example, listing the convention centre as one of the facilities for all the investors to know etc.

I have been to the site 2 times, both times to go to Station 18 Jusco. I think Ipoh can certainly have more of such developments but if possible, do it on an even bigger scale and not just another quite successful project. Do one which is significant to Ipoh as a city. How about having one international event every month in the new convention centre and Perak state government should facilitate this. Yes, no airports but why not tell them to experience the train? Arriving at a majestic train station in Malaysia? What about including this convention centre in all the visits to other countries?

The one unfortunate thing that I feel is still happening in Ipoh is that everyone has their own ideas about how to make Ipoh a better place but none of them are really leveraging off each other and making the whole thing bigger. Perhaps this may be the start of a closer cooperation between the state and the private sector? Hope so, for Ipoh’s sake.

written on 25 May 2014

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 Ipoh Developments – Latest – March 2014

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Another new attraction in Penang. Eastern Seafront Development (ESD).

I was based in Penang for 15 years after my graduation. The last office I was based before I moved to KL was in Penang Road and there are many historical buildings nearby including the Eastern and Oriental Hotel of Penang which was just opposite my office. Georgetown is a UNESCO Heritage City and thus, any development must take this into account because we do not wish to infringe on any of the conditions for continuation of the status.

This UNESCO Heritage City will have another upcoming attraction and it’s just slightly over 1km down the road from Eastern and Oriental Hotel. It’s known as the Eastern Seafront Development (ESD) project and it will start in 2020 with the Promenade Walk above the sea being the top attraction. This Promenade Walk along the waterfront would start from the Swettenham Pier in Esplanade to the abandoned Tanjung City Marina.

Article in thestar.com.my (It’s an exclusive article)
   Penang Port Commission (PPC) chairman Jeffrey Chew said, “The estimated cost is over RM1bil. The seamless promenade walkway is expected to start in the first quarter of next year with the entire project to be completed in 2024.”  The PPC is the owner of the land parcel along the coastal stretch after the Astaka until the Rapid Penang Bus Terminal in Weld Quay.

The projects in the ESD include the expansion of the Swettenham Pier Cruise Terminal (SPCT) and the upgrading of the ground transport area (GTA), including port warehouses, a yacht club and the Tanjung City Marina.  He said, “We are unlocking the land bank with the RM155mil SPCT expansion (set to commence in the first quarter of next year) and the warehouse development, which has been given to a private company.”

He added, “George Town World Heritage Incorporated will be involved in its planning every step of the way. The development will have retail, culture and duty free elements while maintaining its original heritage value.  The warehouses are set to be ready in 2022.”  Do read the full article with a lot more details here:
Article in thestar.com.my (It’s an exclusive article)

Every weekend, Georgetown is bustling with people. Lots of foreigners and we could see this is making the expansion of Penang International Airport compulsory. I think that’s good thing for the economy. In fact there are today so many shops renting out bicycles to tourists which meant that the tourists are touring the city centre versus just going to one particular attraction and leave.

 Of course, if I would suggest, it may even be better if we start having more roads which are closed to cars. With more people on foot and cycling, we will have even more economic activities as people will have more time and more opportunities to browse shops which they could otherwise miss if they were inside a car. All the best and hoping for a smooth development of ESD.

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Any investment is a good “business”; diligence needed

To me, any investment is a good ‘business.’ It includes even investing on new knowledge or qualifications. Over 10 years ago, I completed my MBA which did not really gave me any sudden promotions. However, it has given me many benefits, both direct and indirect that I would always encourage anyone looking to upgrade to go for it. The cost then was RM19,000. I invested the amount onto myself.

I have many friends selling insurance. I have just two friends who are doing exceptionally well because of selling insurance. I have a huge group of friends in real estate. I have just a few friends who are very successful in the real estate business. I have many friends who are owners of cafes. I have just a few friends left who are still operating the cafe. Yes, I have hundreds of friends who have spoken, discussed and debated with me about property investment. Thus far, less than 10 percent are successfully earning good money from property investments. Or perhaps majority are successful but they just did not want to let me know? 🙂

The catch in all these is just one, diligence. Hardwork and work smart. The learning is continuous and somehow that motivation to continue must be from ourselves. Rest assured, out of 10 people you approach to buy insurance, maybe one would say Yes. Perhaps it’s just because your explanation was bad! Improve. If investing property involves taking simply selecting a nicely designed brochure or buying the first property that you think looks impressive, then EVERYONE is today a multi-millionaire and soon, all would become bankrupt since if everyone is an investor, who are the buyers? Haha.

Investment is always long term
. Even if one famous property guru tell you that if you follow him totally, you would not be wrong, that person is lying. If he is as good as what he said, he does not need you. He would have earned so much from his earlier investments that he would have been able to reinvest earn more and definitely would not become a full time property speaker. Yes, after you have listened to more than 10 speakers, you can perhaps become a speaker too. Using some of the points you learnt, join Toastmasters for free training and 6 months later, perhaps start speaking! Yes, I have more than a few friends who are doing this successfully today.

Since you are reading this article, if you have yet to buy a property, buy one after some research.
Do not research for 10 years but bought none

simply because you did not find a perfect property yet. Property investment is worthwhile only if we take action. Otherwise, it’s call property ‘thinking.’ Selling insurance is worthwhile only when we push ourselves to do more and improve faster. Don’t just dream, take action and make your dream come true. Happy dreaming on a king sized-bed in a 5 star beach resort when you are successful.

written on 21 July 2015

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Property Investment is not everything

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Appendicitis, Planning and Making Sure

It’s always easy to say, I should have seen this. I should have planned this earlier. I should have prepared for this. Well, it’s my turn today. Kopiandproperty.com should have prepared for this. It’s founder cum writer, cum admin, that’s me, myself and I was not feeling well since Sunday (3 Aug), thus many of the things I would normally do such as writing articles, sharing the articles in some selective pages were not done. I felt tired and was on MC, slept the whole day and when I arrived in Singapore for my business trip, was in no condition for one. Was hospitalized later on for appendicitis. Yes, that painful. Today, when I am fit enough to write this, it’s already 8th Aug.

Planning. Many friends asked about my wife and baby daughter since I am now here in Singapore and they are there in Malaysia. Fortunately it was always planned that every time I travel, my parents come and stay with us. My wife is now a full time housewife but (touch wood), if something really happens to me, I am covered by many insurances which I had bought earlier. This appendicitis reminded me the importance of really planning for something like that. I have friends who told me, if you think negatively, things will happen. Sorry, I think objectively, thus I must make sure I am ready if that happens and that my family is protected and must not burdened further about money. I am very sure my family including my brother and my sister can help etc but YOU must make sure you have done your part in planning.

Making Sure. If you have bought coverage for them, have you checked if the amount which is being covered is sufficient? Please do not think RM250,000 or RM500,000 is a huge amount because there is still the home loan to pay. Have you ensured overall, you are okay? Financial consultants would tell you, are you in the black? Really, if the purpose of your planning is to protect those whom you love, then it is of utmost importance that you do it wholeheartedly. After all, you need to do it just once. I miss my baby daughter a lot. I think she missed me too even if she’s closer to her ‘mama’. Just a casual reminder for you and me.

Written on 8th Aug 2014

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Apple and it’s HUGE cash reserves

Which is better? Android or iOS? In terms of handsets, Samsung or Apple? This argument has always been more Iphone than Samsung but most recently, Samsung has overtaken Apple in nearly every market it is in and Android controls over 80% of all handphone OSes. Third ranked would be Microsoft but I think by year end of 2015, it should already almost equal to iOS in terms of total OS market in the world. Do you remember the days when Nokia was the king of the world? Today, it is a pale shadow of its past and most probably would be a Microsoft company soon. What about Apple? Since it’s market share is no longer as big previously? Do you think Apple may face the same problem as Nokia? Well, if we look at Apple’s CASH RESERVES, the answer is No. Not even within the next few years even if Apple were to continue losing market share.

Why? Look at the cash reserves numbers of Apple versus many of the established economies of the world. Apple’s cash reserves are much bigger than United Kingdom’s total cash reserve. In fact in terms of profits, Apple continue to lead all other handphone manufacturers due to its ability to sell at a good premium. Even its second hand sets have better value than other brands!

Want to know how much is this cash compared to say, Penang Total property transactions in 2012? In 2012, the total transactions for ALL properties, whether secondary or primary comes to a total of RM7 billion or a total of over 26,000 units. Apple’s cash reserves can buy ALL the properties transacted in 2012 for Penang at least
70 times.

Even compared to a company which everyone of us know, Microsoft, Apple still has a cash reserve of nearly double that of Microsoft. How could Apple accumulate such huge cash reserve? Look at all those who owns iPhone and you get your answer. 🙂

Facebook cash reserves are not stated here and it is not even within these. No information stated their cash reserves clearly but it should be around US$12 Billion or around 7.2 Billion Pounds. Thus, Apple is only around 13 times of Facebook when we compare cash reserves.

Interesting? Yes, I also think so. These companies have overtaken majority of all the brick and mortar firms which has operations which are far bigger and yet the profit margins are much smaller. As an example, the largest car company in the world by number of cars sold, Toyota has a cash reserve of only US$40 Billion or 24 Billion pounds. This is already the largest car company in the world, selling nearly 10 billion cars in 2013!

I think in 2014, Samsung will still lead Apple in terms of handphones sold. I think Android would continue to be dwarfing iOS. However, Apple is still way too strong even against these headwinds. As long as they are able to command a premium, they should still be ok, at least for the next few years.

written on 19 April 2014

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Apple is bigger than Google plus Microsoft!

GDP for Singapore is US$300 Billion for the whole of 2013. It will only release the 2014 GDP numbers on February 17.  GDP for Malaysia is US$746 Billion. (Yes, Bank Negara Malaysia has released the data earlier than Singapore) Well, the value of Apple, as a listed entity has reached US$717 billion (Feb 17 2015). Quite an amazing feat contributed by its very successful range of products especially after they realized that larger screens are the right way to go and followed the Android route. No doubt, iOS remains their major advantage but without the bigger screens or to remain at just 4 inch plus, there is just no way for them to gain so much new sales suddenly. This is the first company ever to reach a value of over US$717 Billion. It’s BIGGER than even Google and Microsoft combined in terms of value. Google’s market capitalisation is US$365 Billion and Microsoft is US$350 Billion.

I do not own an iPhone but I am a very satisfied customer of MacBook. After using it for 18 months, my battery can still last 10 hours easily. I have never have such ‘powers’ before with any of my 3 notebooks before this MacBook. So, yes I can safely conclude that Apple produces good products. iPhone remains too expensive for my liking and I currently use OPPO which in terms of quality and value is second to none, my personal opinion. Don’t believe me? It’s OK. Just buy the brand you like. Haha.

Oh yeah, what do I think of the share value? Actually, based on the current profit levels versus it’s overall share price and thus value, it’s pretty normal and definitely not overpriced! Sorry, I do not own any account to buy US stocks today. They earned US$8 Billion last quarter. Based on price-earning ratio, Apple is valued at just 16 times its annual earnings and if the profit momentum continues, it may be just 10 times based on next fiscal year. 10 times meant their share price is undervalued. In brief, if you buy their shares, it takes 10 years for it to double. This does not take into account the potential dividends etc. Happy using Apple products.

written on 13 Feb 2015

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Find something that appreciates even when we do not work

A friend write in her Facebook page that for the month of March, she would like to have 36 hours everyday. She said she had too many things to do and 24 hours is just not enough to complete them. Time is a resource which everyone has and 24 hours a day applies to everyone, whether they are the richest or the poorest. A friend shared this quote from Warren Buffett which is extremely true. (Image beside). “If you don’t find a way to make money while you sleep, you will work until you die.”  Well, even after we retire from our full time work at say 60 years old, we should still live on for the next 15 to 20 years. Assuming we are healthy enough, can our funds built up during the 35-40 years of working life allow us to still enjoy a latte occasionally? I think the question we may want to ask would be as follows, especially for majority of us who are working professionals.

Can we retire comfortably when we earn RM25,000 a month for many years before our retirement? Would it be worse if we earned lesser than RM10,000 many years before we retire? The answer lies not in the salary we received at the beginning of the month but on the amount remaining every end of the month. Experts say, save 30 percent monthly and you should retire with almost the same lifestyle by the time you retire. Here’s an article about it.
Save one third to have two-third when we retire

In fact property investment is an awesome investment even if Warren Buffett is not investing specifically in properties. Here’s 12 reasons why
KCLau
says so.
12 Great Reasons to Invest in Real Estate
 (KCLau is one of Malaysia’s most prominent personal finance guru. Do read lots of great stuffs
at this site
)  It’s hard to just save, save and save right. I agree. That’s why it is time we start to find something which will ‘make money even when we sleep, else we will work till we die.’ I think Warren meant investments. Haha.

Many months back, I was hiring for my department and I needed someone who’s a sales manager to join me. Instead of doing sales, this person would have to forego commissions / incentives and focus on solutions / rollout / training instead. Yes, a pay cut is needed unless this person was not a performer in his previous role.  There’s no need to wonder too much, I really managed to hire someone who was willing to do that. I think the reason is simple, he must have earned enough during his awesome years as sales and most likely have enough investments that is ‘appreciating even when he is not looking.’  He is not the only one. Another colleague who’s at least 13 years away from retirement age had resigned. Reason given was that she wanted to spend more time with her kids. Another one with enough investments and thus not too worried about not earning that monthly paycheck. If these two salaried professionals could do it, I think many of us could do it too. Perform extremely well, climb that corporate ladder or be the top sales, invest as much as we can and watch it grow. 15 years later, we would be comfortable enough not to let our boss manage our life all the time. Okay, I better sleep now. I still need to work tomorrow. Haha. Happy working towards something that ‘appreciates even when we are not looking.’ Nope, a car is not one of them.

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written on 2 Mar 2017

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Approval process must be transparent for ALL

The ‘fight’ continues. Both sides are claiming the other side is wrong. Suddenly, situation seems familiar. It exists as long as there’s no transparency. Agree? read on. Penang Chief Minister Lim Guan Eng said that the delay for Penang developers in getting the Advertising Permit and Developers Licence (APDL) is taking months. It used to take just two weeks. He said this may affect Malaysia’s competitiveness rank. Real Estate and Housing Developers Association (REHDA) Penang chapter chairman, Datuk Jerry Chan said that without APDL, developers could not start selling. This meant that the people in need of a home could not get one and other industries such as media has no business.

Slightly earlier, The Penang Regional Development Authority (Perda) said the Penang state government has refused to approve their housing affordable and low cost housing projects. Its chairperson, Shabudin Yahaya said that they submitted four and Seberang Perai Municipal Council (MPSP), had rejected one in Kepala Batas on the grounds that it did not meet the stipulated requirements. Another three has yet to get a reply. Rejection was because the units were sold above RM250,000. Perda explained that only 15% is sold above RM250,000 and this is to cover the cost of building low cost homes which was at RM80,000 but sold at just RM40,000.

I would love if both sides are really transparent instead of the “awaiting for reply” type of answer. Come on, these affordable homes would be beneficial to Penangites and those who are working there. There is little need to show ‘power’ and ‘authority’ here. Leave the political fights to political matters please. The transparency is for both to provide answer one by one, WHY the projects have not received any approval. Besides, it would need at least 3 years from data of approval before the units are ready. Thus, delaying it further meant that the number of units coming into the market is now delayed. Sigh. Not a good thing for Penang.

written on 4 Aug 2015

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Great problem Penang; too many affordable homes soon.

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3 most important factors to decide if banks approve our loan application

It’s tougher to get your loan approved? How do banks decide whether or not to approve our loan application?

I always read with amusement when some writer for some major media writes and quotes someone that it’s impossible to get banks to approve the loan applications these days. Hopefully they realise that banks exist because they wanted to make profits. In order to make profits, they will keep lending and lending and lending. Unless of course, there’s something not so right about our loan application. Oh yeah, they love our money too!

For example, they will get us to put money into the bank and pays us a paltry interest for savings account. FD rates are only at 2 percent currently. After they pay us this amount, they will use our savings to lend to borrowers who will pay them 3 percent or higher for a home loan. That’s how they earn profits which could then be shared with their shareholders. If you like this model, then please buy banking stocks. As for reasons why have rejected our loan application, let’s look at just 3 reasons as below:

#1 – Honesty is the best policy. Are we being honest with ourselves?
We earn RM5,000 net salary per month.  If we use 40% of this amount for mortgage, we could afford to pay RM2,000 per month. This is generally enough for us to buy a home of around RM450,000. What happened though is that we will try and buy a MINIMUM RM450,000 home or a slightly more expensive one.

Now for the reality. After deducting some of our other commitments like an instalment plan for a new smartphone or even credit card balances, the home price we could actually afford is lower.  This was why the bank did not approve our loan in the first place. It was NOT because the bank hates us or that they have suddenly stopped lending. We just did NOT qualify for that maximum loan we thought we could.

#2 – That property may just be overpriced.
Banks do their own valuations before they decide the amount to lend.  Especially these days. Just ask some of your valuer friends. Just because the developer’s price is RM450,000 does not mean the bank agrees to the price! They may think that the price should be RM350,000 instead? When they see the value as RM350,000 and they lend us 90 percent loan, then they are only going to lend us RM315,000. We were looking at RM450,000 x 90 percent and that’s RM405,000. This is a huge gap.

Maybe if we submitted a loan for 80% instead, then perhaps they will now approve it because the risk to the bank is now lowered.

#3 – Our credit rating is just negative.
If we have skipped credit card payments or some other loan repayments, chances are our credit rating has been affected. This is usually a cause for concern for the banks. This is why even if our salary is high enough to support the monthly mortgage repayment, the banks will still worry when they have seen our credit history.  By the way, if we have NO credit ratings, the bank will also not approve our loan. They do not know what’s our risk profile… Get a credit card, spend some amount and repay them promptly. This helps tremendously.

Make us great again, I meant our credit trustworthiness.

Stop complaining about the banks. Start getting our financial standing back in order. Start evaluating homes which are not at the borderline of our own affordability. Start to read kopiandproperty.com Haha. The banks needed to continue earning higher profits. Else, the stock price will remain stagnant or start dropping. Thus, they will continue to lend but they will continue to be very conservative so that they minimise their risks of suffering huge losses if the borrowers start defaulting when bad times come.

As some have suggested, the banks should shoulder more risks but I think the shareholders of these banks would prefer the lending decision to be safe than sorry. Happy applying for a loan yeah.

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Approved. Wage subsidy for nearly a million employees.

When people need money for food, they really need the money. Mortgage payments may have moratorium of 6 months but it’s impossible to skip meals without becoming sick, unhealthy and more vulnerable to COVID-19 infection. Rental would also have to be paid too even if the worker has been asked to take unpaid leave at the moment due to Movement Control Order (MCO). Some tenants could also ask for rental discount or waiver from their landlords but there’s no guarantee it will be given.
Recent news about waiver of rental for retail tenants here.

Remember the wage subsidy of RM1,200 per employee for the SMEs? This is part of the COVID-19 stimulus package of RM260 billion. Last week,
RM8.6 billion was already approved disbursed.
 I used to worry about the implementation speed of the COVID-19 stimulus packages. I think the speed thus far is pretty good. Minister of Finance Datuk Seri Tengku Zafrul announced that RM1.2billion in wage subsidies have been approved as of April 19.

Article in malaymail.com
   The RM1.2 billion approval will benefit nearly a million workers involving 159,000 employers (SMEs yeah). Tengku Zafrul said, “The subsidies were already disbursed to successful applicants starting last week.”   Workers earning less than RM4,000 per month are eligible for the subsidies.  Companies that employ more than 200 people will receive RM600 per retained worker while those employing between 75 and 200 employees will get RM800, and those with fewer than 75 employees will get RM1,200.

SMEs contribute around 30 percent to the yearly GDP but they employ 70% of the total of 15-million workforce in Malaysia. Zafrul also said that RM45 million from the RM700 million allocated for the micro credit scheme under the BSN-Tekun stewardship programme had been approved, involving over 1,000 micro businesses.  He said, “I hope more micro-companies will apply and they can contact BSN and Tekun for the help they need.”
Article in malaymail.com

Please follow what our Finance Minister is asking okay. Please apply soonest so that the approval can be given and the money could be disbursed. Of course, ONLY if you really need it and qualify lah. Our response to the COVID-19 thus far where stimulus and speed of implementation is concerned is not shabby at all.  We will need to do our best to ensure as few businesses as possible closing down and as many employees as possible get a lifeline because MCO meant that their income may be affected but their expenses have to continue.Happy understanding and please start applying yeah.

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APSEZ and Carey Island with MMC Port Holdings, Sime Darby

Somehow, I read this article in a media site in India;
The Hindu Business Line
 but it’s also reported in many other sites including TheEdgeMarkets. It’s no longer just news after news about investments or partnerships from China. Perhaps this is the start of more substantial investments from India. Adani Group of India, with its port arm, Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operating firm has signed a Memorandum of Understanding (MoU) with MMC Port Holdings Sdn Bhd. This MoU is on a feasibility study on the development of a mega container handling port project on Carey Island. Note the word ‘MEGA.’ Carey Island is between 67km to 72km from KL Sentral, depending on the roads you take. Karan Adani, CEO of APSEZ said in a statement in the article, “Malaysia is very strategic to APSEZ global strategy and with Straits of Malacca being a global shipping route. It helps us to drive our global transhipment strategy further. With Vizhinjam port in Kerala, on one side, and Carey Island port, on the other, we will be able to give transhipment solutions to global shipping lines. Malaysia with its supportive, transparent and proactive government policies makes it ideal destination for investment. MMC and Sime Darby are valued partners and with their involvement in these projects strengthens the case even more to make both these projects successful.” I think this is a very positive statement indeed from a CEO to this potential partnership.

Beyond just the mega container handling port, another separate MoU was signed between MMC Port Holdings, Sime Darby Property Berhad, and APSEZ for the development of an integrated maritime city on CareyIsland to support the planned new port. The feasibility study would be for the Carey Island Port Project and the supporting integrated maritime city. Additional information about APSEZ. It is also the developer and operator of India’s biggest private port at Mundra, in Kutch district of Gujarat. It operates container handling facilities at its flagship port of Mundra and also at Hazira, both in Gujarat, and at Kattupalli near Chennai in Tamil Nadu. APSEZ will also soon be starting operations for a new container handling facility it has built at Kamarajar Portat Ennore near Chennai. The firm is also building a mega container transhipment port at Vizhinjam in Kerala.
Full article here.

MoU means the actual deal may be some time away. Then again how many transnational deals that we know of that can happen within a few months? I love China which is continuously investing in Malaysia and many other countries. In fact
China is the biggest foreign creditor nation to the U.S.
However, I love it more when Malaysia does not only have investments from one country. Let’s put this into perspective. GDP wise, India is number 7 in the world today. However, India is projected by the International Monetary Fund to be number 3 in GDP size by 2030.
Report here.
Malaysia? Well, by 2030, Malaysia will be number 23 in the world for GDP size. Happy following and let’s hope the MoU becomes an actual agreement in the near future. Cheers.

written on 3 April 2017

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