Yes, there is a bubble. No, there is no bubble.

I love to type ‘property bubble’ into Google under ‘News’ to look at some of the latest articles about property bubble. There are many that we can look at since a property bubble starting in another country can affect sentiment and subsequently the Malaysian property market as well. Recently, there’s one saying that the property bubble is about to burst.
Global property bubble about to pop? Pop means kaboom
.
It gave an overview of the few advanced property markets and even China’s potential property crisis because prices are still rising. The
article by Motley Fool
did not talk about the Australian property market. There’s one recent article on that in
news.com.au
 In brief, the article quoted Professor Steve Keen who said that Australia could face a housing market ‘bubble’ within months. He quoted the numbers from OECD which shows that Australia already has the fourth highest ratio of household debt as a percentage of net disposable income in the world at 212 per cent. Well, do read the article in full as it
includes charts as well.

When we type ‘Malaysia property bubble’ the first article that appears is one in
NST quoting iProperty General Manager Data Services, P.Premendran.
 He said that Malaysia is not expected to face a property bubble within the next 5 years. The reason is because Malaysia has prepared well by looking at the 1997-1998 economic turmoil and from the US sub-prime mortgage crisis in 2008. He added, “Malaysia would not be heading into a property bubble as the next five years look promising.” Beyond this article, the rest are a few old articles. Why are there no other articles? There are two possibilities here. First one is that there is no bubble possibility for Malaysia because there are no such specific article about the possibility. Alternatively, it may also be due to the fact that our property market is nowhere near those of China, Australia, London or even Singapore’s. Thus, there are far fewer articles on our property market. Okay, now we can heave a sign of relief? 🙂

There are many other articles about the possibilities of property bubbles in many other countries. However, I think for those countries that was mentioned, its effects on Malaysia is lesser. For example, Ireland or New Zealand or even Canada? There’s one much closer to home; Thailand. The article in
Bangkokpost.com Suparchai sees property bubble ahead
quoted Suparchai Panitchpakdi, a former director-general of the World Trade Organization and secretary-general of the UN Conference on Trade and Development as saying that Thailand faces a potential bubble. He said, “Investment has poured into the real estate sector mostly,” he said. “This is quite abnormal. One cannot deny the beginnings of a bubble in the real estate sector as many more projects have been launched.” I think in terms of the Thai property market, it can be considered a ‘competitor’ to the Malaysian property market. Thus, we may not need to be too worried about a property bubble in Thailand, at least not directly anyway. Okay, enough of bubble vs no bubble for today. Happy following.

written on 21 May 2017

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Yes, my friend. Football is big and many depend on it. Jobs = Money = Economy.

After reading this article:
Football has restarted, more on the way
, someone casually mentioned that the football stars are rich enough to last until the restarting of the season. Well, to be very precise, the football industry is one huge industry in the UK which will not just affect employment among the players, the coaches and the training staffs. What about the F&B outlets which relied on supporters of these football teams when there are matches? What about the sale of products?  Without sales the order to manufacturers would also drop.  When this happens, we are even looking at loss of jobs in some other industries too.

Article in careerbuilder.co.uk
 .  CareerBuilder.co.uk and EMSI (Economic Modeling Specialists International) ran a scenario to identify importance of the sports industry to the UK economy.  The results showed that when sports industry is in cold storage, then the loss to the industry would be £23.8 billion (RM127.7 billion) in earnings and 987,564 in jobs.

If we look at just football alone and narrow it to just the South East region, it would mean a loss of 51,952 jobs followed by London with 37,341 jobs, Scotland with over 31,922 jobs and West Midlands with 30,410 jobs. Please do read here fo the full impact from the sports industry and not just football.
Article in careerbuilder.co.uk

1 million people with jobs within the sports industry?  Imagine just 10% of this number are now starting to miss their mortgage payments because they were not paid salaries. The clubs have no job for them, thus not paying them.  This is 100,000 people unable to pay and this will cause a huge ripple in the industry yeah. Technically, it’s not yet Non-Performing Loan (NPL).  However, these would now be classified as
Gross Impaired Loans (GILs). Earlier article on GIL in Malaysia here.
 As the name has indicated, this is definitely not a good news for the banks and for the industry yeah.

So, do stop thinking that only manufacturing or the services or even just the SMEs. The sports industry is a huge one and for the UK, especially football. This is why it’s a super tough decision for the government whether to allow or not to allow a restarting of the sports industry,. Happy following.

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Yes! Our monthly mortgage is now even lower!

BNM has reduced the Overnight Policy Rate! (OPR)  In case you still did not know, our interest rate is now lowest since 2010. OPR has been reduced by Bank Negara Malaysia (BNM) again today by 50 basis points. The rate is currently at 2 percent. This is a decision by its Monetary Policy Committee today and the reasons include a deteriorating business condition because of COVID-19 pandemic.

BNM in a statement said, “With the decision today, the OPR has been reduced by a total of 100 basis points, complementing other monetary and financial measures by Bank Negara Malaysia as well as fiscal measures this year. Together, these measures will cushion the economic impact on businesses and households and support the improvement in economic activity.”  With this latest cut, do you know how much ‘savings’ will you get from your RM500,000 home loan?

Take a look at the two images below.  One is BEFORE.  The one right after is after this latest reduction and assuming banks will follow the same reduction to their borrowers.

So, on a monthly basis, for someone who has a RM500,000 loan at 30-year repayment term, the savings is RM2,174 – RM2,045 = RM129 per month.  This savings will enable the person to drink 10 cups of Freshly Brewed black coffee from any of the major coffee chains. Divided into 30 days, that’s a cup every 3 days.  Not bad at all. Haha.

Of course, if the savings is used for roti canai x 2 plus a glass of teh tarik, then it’s enough for one full month of breakfast!  So, yeah, can be considered a major savings. At the same time however, it’s bad news for those with FD expiring soon.  These FDs would have have a rate which is 0.5% lower too. So, what will happen to someone with RM200,000 in the bank? Well, they may have been earning around 3.25% and this will soon become 2.75%.

RM200,000 x 0.5% (reduction) = RM1,000 per year and that’s around RM83 per month. This is still more than enough for daily roti canai x 1 and a glass of teh tarik I think. Okay, wishing everyone the best for this latest cut. Remember to manage the risks if you decided that it’s best to invest some of the FDs into the stock market for example. Happy understanding.

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Yes, yes, KLIA2 is ready to be used, AirAsia to start from 9th May

After much delay, KLIA2 is certified fit for use. This is indeed another huge achievement considering that this is Asia’s most modern low-cost air terminal. If you have been using LCCT recently, you would already realise that it is bursting at its seams. Finding a car park took me 45 minutes. Eating lunch meant I my choice is limited to whichever restaurant has space. Checking in? You better be there as early as you can because tales of people missing flights despite already at the airport is increasing, especially those who did not print their boarding passes before time.

The Certificate of Completion and Compliance has been issued to Malaysia Airports Berhad (MAHB). Even the International Civil Aviation has completed their checks and has completed their checks after being asked to do do by the government due to the many negative reports in the media as well as Air Asia’s insistence that it is not ready to move if the airport is not deemed to be safe and ready.

The first flight in will arrive at 12.05am from Tiger Airways and the first flight out would depart one hour later. No Air Asia though because they will only start from 9th May onwards. With the view of being ready from day one, MAHB undertook the Operational Readiness and Airport Transfer (Orat) procedures. ORAT is a comprehensive methodology and holistic approach to ensure the operational readiness of the new airport. The airlines which will begin flying from 2nd May onwards would be Malindo Air, Cebu Pacific Air, Tiger Airways Singapore, Lion Air and Indonesia’s Mandala Airlines.

In terms of capacity, KLIA2 can handle up to 45 Million passengers per year and this is 3 times the current capacity of LCCT which is already handling over its official limit! Last year, it handled 20 million passengers. Nevertheless, some reports said that the full capacity may be reached in just 10 years. Once it handles its full capacity, it meant that MORE HOTELS are needed. MORE RESIDENTIAL projects are needed. MORE Retail outlets are needed. MORE visitor invoice receipts to Malaysia. 45 Million per year meant that close to 4 Million passengers go through the airport monthly. We have yet to include those who work there. Hmm…. perhaps it’s time to buy properties which are within a 15km radius from KLIA. The growth should be quite secure for the next ten years. Ok, I will seriously think about it.

written on 19 April 2014

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Yes, you can build homes over RM1 million, IF

Yes, developers can still proceed to build homes of over RM1 million in big cities. (I think this includes the usual few like Kuala Lumpur, Penang, Kota Kinabalu and Johor Bahru). This was just reported in the article in
NST. Developers can build houses above RM1 million if they meet requirements.

They can build as long as they meet the requirements from the Urban Well-being, Housing and Local Government Ministry.
Its minister Tan Sri Noh Omar said,
“Developers who want to undertake or build houses more than RM1 million at their choice of location in the city must write in an official application to the ministry.
The approval of the project will depend on the need for the development in that area, the number of houses worth more than RM1 million which are sold or not sold in the area of request, and whether the appeal or application is suitable.”

According to the article, Prime Minister Datuk Seri Najib Razak had appointed five ministers to discuss and deliberate matters following the ban on high-end properties in the country by the Cabinet. These five include
Second Finance Minister Datuk Seri Johari Abdul Ghani, Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor, Minister in the Prime Miniter’s Department Datuk Seri Abdul Rahman Dahlan, Works Minister Datuk Seri Fadillah Yusof and Tan Sri Noh Omar. Leniency is now given after a discussion last week and this was also because most of these over RM1 million homes were mostly purchased by foreigners.
Recently, Bank Negara Malaysia (BNM)’s quarterly bulletin reported that the total unsold residential properties for the first quarter of 2017 (1Q17) stood at 130,690 units, the highest recorded in a decade. In an earlier widely reported news, BNM also gave some pointers for consideration of all stakeholders. Read them here:
Bank Negara’s 6 policy options. I like them all

What Bank Negara wanted to point out was also that property market imbalances could pose risks to the macroeconomic and financial stability.
Here’s that article in NST again.

Why was there a blanket ban on commercial and over RM1 million residential units?
Perhaps the market is really in oversupply

Did the government do the right thing by a blanket ban? Well,

It really depends on the actual property

So is the current solution the best? Well, five ministers may be better than one I guess. As for the property market and for the developers’ sake, I think it is still safe to take a look at their applications first before deciding. Let’s be savvy. Assuming they bought a piece of expensive land and they have 200 ready buyers for their development, there is no reason to stop them…. If the buyers are mostly foreigners, this is good for the property market of Malaysia too. As for the majority of us, well, anything above RM1 million has never been a target anyway. As for expensive units crashing the whole market with affordable units, here’s my view.
Unsold units up 40 pct. Strategy ahead?

Happy following.

written on 3 Dec 2017

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The ‘yesterday’ property and properties today

When my parents bought our Ipoh semi-detached home in the 90s, it was just RM85,000.  Today that same property is RM350,000 or higher. My parents are still staying there and I would most probably be staying there in the future as well. When we really calculate over the period of years versus the actual price appreciation, the gain in percentage is pretty low. However, the RM350,000 property if sold today would still be worth RM1,450 per month for the next 20 years. This, coupled with their EPF and other savings over the years would meant that they would do okay easily for the next 20 years. Imagine if they did NOT buy the said property previously. Do you think they would have been able to save RM350,000 in 20 years? A saving of RM1450 per month today may be easier but 20 years ago, to save RM1,450 per month?

‘Yesterday’ property purchased with the price then would enable you to be able to sell at today’s property price. Today’s property prices would also be much higher when you want to sell in the future.  Looking at just a secondary city like Ipoh would already tell you what the potential would be in bigger cities like Penang or Kuala Lumpur or even the one right next to Singapore, Johor Bahru. The percentage growth in property price is indeed very little and may only be slightly higher than inflation rate. However, that little percentage would be based on the TOTAL house price and soon enough you can see that the amount is significant by the time you have settled it.

‘Yesterday,’ not only is the demand for property much smaller than today but even the supply is small. Number of developers are fewer and the project size is also nowhere near today’s grand scale. Choices in terms of design, types etc are also not many. Clearly, there was little to look for. Today, even if the size is the same, the design may be totally different and the prices too. Number of developers and the total demand is now much higher. In fact, unless Malaysia stops growing economically, the demand would continue and the prices of properties can only continue going up after a few years of slowing down. No, I am not talking about investment as in buying more than one unit. I am talking only for everyone to have one unit they can call their own. In the future, this home may be a huge chunk of cash when you need it. Happy celebrating yesterday’s decisions today. Happy looking forward to future’s property price with your purchase today.

written on 16 Mar 2015

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Press Release: KSK Land Celebrates The Topping Out Of The First Tower of YOO8 Serviced By Kempinski Branded Residence At 8 Conlay

KUALA LUMPUR, 18 November 2021 –
 KSK Land, Malaysia’s leading lifestyle and design property company and a wholly-owned subsidiary of KSK Group Berhad today celebrated the structural topping out of the first tower (“Tower A”) of YOO8 branded residences serviced by Kempinski.

Excited about what the future holds for the project,
 Joanne Kua, CEO of KSK Group and Managing Director of KSK Land
 said: “We are proud and thankful to have braved through the pandemic and arrived at this important milestone for 8 Conlay without any major accidents or injuries. While the past year was indeed challenging, we observed that there is in fact stronger interest in the local market for branded residences like YOO8 compared to pre-COVID times, while the international market remains engaged. Based on a recent global buyer study, there are now more buyers seeking hotel-integrated residences for their branded services and amenities, high-yield potential and quality property management. As international borders begin to reopen, we look forward to welcoming visitors who are enthusiastic about owning a branded residence to our sales gallery.”

Joanne also expressed her gratitude to the project’s main contractor, Grand Dynamic Builders; hospitality and design partners – Kempinski and YOO; architectural concept and design partner – Ar. Hud Bakar of RSP Architects KL; as well as YOO8 homeowners for their continued trust and patience. She also expressed her appreciation to the internal team at KSK Land for their relentless support during these tough times.

Located on nearly four acres of freehold land at the heart of Kuala Lumpur’s city centre, 8 Conlay encompasses three skyline-enhancing towers, which features the world’s tallest twisted twin residential towers
–
 the YOO8 serviced by Kempinski branded residences, with interiors designed by Steve Leung & YOO (Tower A) and Kelly Hoppen for YOO (Tower B); the first and only five-star Kempinski Hotel in Malaysia; and four-storeys worth of experiential lifestyle retail quarters.

Following the structural completion of the project’s first branded residential tower, KSK Land will be pushing forward with plans for its handover by the end of 2022 and the second  tower (“Tower B”) by mid-2023.

Located at the heart of the Golden Triangle of KL City Centre, 8 Conlay’s twin residential towers – YOO8 serviced by Kempinski, now celebrates the structural completion of Tower A and onward to its handover by end of 2022.

KSK Land also unveiled the latest features in its 8 Conlay homeowner mobile app, which includes mobile lift access control; smart home control in partnership with Lutron; visitor management; vacant possession and defect management; and an in-app chat, voice call or video call function that directly connects to the concierge.

“As a lifestyle and design property company, delivering the best value and quality to our homeowners are of the utmost importance to us, which is in line with our placemaking philosophy of creating liveable spaces. To that end, we are happy to share with you that KSK Land is now the first real estate developer in Malaysia to work with KONE to directly integrate a mobile lift access function into our homeowner mobile app,” said Kua.

Built by KSK Land’s data & tech arm, KSK City Labs, the mobile app is  designed to seamlessly elevate homeowners’ experience at 8 Conlay, encompassing the entire journey from purchase to residency and property management. More new features will be introduced down the line, including a chat function that connects YOO8 residents directly to Kempinski’s Lady-in-Red for access to the hotel’s hallmark services such as butler on call, private chef service, housekeeping, residential provisioning, tailoring and more.

Introducing the newest features on the 8 Conlay mobile app, which.includes mobile lift access control; smart home control in partnership with Lutron; visitor management; vacant possession and defect management; and an in-app chat, voice call or video call function that directly connects to the concierge

KSK Land has also announced the successful completion of its fully-furnished mock-up units in YOO8 Tower A by Steve Leung & YOO, which showcases the build quality and design of a sought-after branded residence.

– End of Press Release –

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Yea, you can now operate at full capability.

My good friend sent me this image below. He is the owner of a factory here in Selangor is classified as a Small and Medium sized Enterprise (SME). As he was unable to continue his production, he had a very frank discussion with his people.  All of them agreed to take a 40-50% pay cut instead of the factory needing to retrench some people. However, even this will only enable him to stretch his survivability for a maximum of 3 months. Without a normalisation and at least some revenues, there is no way this factory will be around till end of the year.

Then, I read this news.
Article in thestar.com.my
    International Trade and Industry Minister Datuk Seri Azmin Ali said that the Economic Action Council (EAC) held a meeting with the Prime Minister and this meeting which included Menteri Besar and Chief Ministers have agreed to allow economic sectors that were given permission to operate at full capacity without any time constraints.

Azmin added that the meeting focused on the need to “restart and revive” the overall economic supply chain that would help businesses to “operate fully, rebuild affected stocks, as well as to enable efficient delivery of services and goods to customers”.  The government hoped that with these measures, the supply chain of goods and services to meet domestic and foreign demands will now be revitalised.  This will help the small-medium enterprises (SMEs). Please do refer here for the full
Article in thestar.com.my

I feel we needed to continue normalising amid the current movement Control Order (MCO) Yes, I agree that there are no guarantee that the next wave will not come.  However, I do know that it’s a very delicate balance between COVID-19 and the economy. It’s not an easy decision to make and it could go wrong.  So, everyone should just put in their mind that social distancing is needed and that masks are really necessary now just for now but for many more months to come.

Anyway, I asked a relative of mine who’s a senior manager in a factory if his factory will be operating soon. He says that the application is vetted very thoroughly.  Thus, they are still in the process of providing more information as well as to provide the steps they will take in order to start the production on a full scale.  So, I think it’s best to continue relaxing but not to relax the necessary precautionary steps which the factories would need to take. That MONITORING will have to be done too.

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You love stocks? You hate stocks? Read and know, regardless buy or no buy.

It seems that the foreign investors are looking at the BURSA again. Here’s one latest news about them:
Foreign investors acquired RM69.9 million of stocks
 So, do we buy into the stock markets then since everyone seems to be? Actually, not many people buy shares of companies these days. They say they did not know. They say the risk is too high. They say prices can go up and come down fast. Haha…

Did not know, then read more. Risk too high, then manage those risks into calculative ones if we understand what we are buying. Diversify versus putting all money into the same stock. Prices come up and come down fast, do you mean you are buying and selling everyday and NOT because of what the company do and the fundamentally, were they well managed or in a good and growing industry?

Please do not worry too much, there’s no links within this article to go buy some stocks yeah.  Just sharing some interesting news about penny stocks here in Malaysia. Penny stock means they are priced below RM1 per share unit.

Article in themalaysianreserve.com
 .  For 2019 thus far, FTSE Bursa Malaysia KLCI remained in the negative territory, falling 4.4% year-to-date. Small-cap index meanwhile rose by 28%. Meanwhile investors in some penny stocks saw their investments soaring 280% to 400% over the year.

According to Bloomberg data, oil and gas (O&G) service provider Dayang Enterprise Holdings Bhd’s share price has soared as much as 414.24% YTD. Dayang Enterprise trades at 15 times its estimated earnings per share for the coming year.

Sarawak Consolidated Industries Bhd’s — Sarawak and Sabah’s sole spun pile and industrialised building system hollow core and panel wall manufacturer has seen its share price soaring by 290% in the past 12 months.

KPB started the year with stock valued at 38 sen a piece. As of yesterday, KPB closed at 276% higher at RM1.41, valuing four times more at RM107.37 million. The company had recently returned to the black in its first quarter ended Sept 30, 2019 (1QFY20), where the group posted a net profit of RM948,000 compared to a net loss of RM328,000 a year ago.

Petra Energy Bhd is another O&G contractor that soared amid the improving outlook for the sector. The stock price is up 285.71% YTD to RM1.38 from 35 sen a piece in January. Petra returned to the black with a net profit of RM25.04 million for 3Q19, from a net loss of RM26.97 million recorded a year ago. Its 3Q19 revenue jumped 82.92% year-on-year to RM219.01 million.

Notice something similar among all these ‘profitable’ stories? Yes, the business volumes were up, thus the investors were willing to buy into the company at ever higher share prices. They were NOT buying to sell tomorrow or the day after. It has to show some fundamental. As for the many other companies mentioned, many returned to the black (profitable) versus red (losses) previously.  This is a good sign that the company is now moving up versus losing money.

By the way, we do not need to wait for these news to come before we buy. When we visit the hypermarket on a weekly basis and the cashier counters are ALWAYS FULL of customers, go online, check if that hypermarket is a listed entity. Then read more about them and decide if they are still undervalued.

When we see more Proton cars on the road for example, it’s time to read who owns Proton and read the company’s financials and whether more Proton sales will actually push up its profit numbers next year. If the share price seems undervalued versus the potential car sales next year, perhaps it’s time to buy, keep and wait for the sales to go up, results to come out and share prices to go up.

Yes, there was this one year when I saw so many new Proton Sagas on the road and I bought Proton’s shares which were only RM1.50 . After the full year results were released, the prices went up as high as RM4. Before I saw those Proton Saga, I have NEVER thought of buying Proton shares because everyone around me were speaking lowly of them…  Do not make buying into shares a difficult decision. make it easy, make it logical.  Read kopiandproperty.com too for these occasional stock related articles.

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You need TIME for property investment (updated)

You cannot replace time, once you have lost it. The time spent to watch the korean dramas meant you have less time to talk to your parents. If you spent 4 hours in washing your car you lose the opportunity to read a business magazine. There are a lot of people who may never find property investment as attractive. The reason they gave was, time. In fact, they are right. Property investment needs lots of time.

Time:  You need time to
view the property
. Total time needed? Unimaginable when you first started. Typically, you would need to view no less than 10 properties before you decide. You need the time to think if the purchase is worth it. You need to have the time to meet up with the banker to get a loan. You need time to meet up with the lawyer for your sale and purchase. You may need time to restart all over if they property you liked was booked by another. Time which you may not have a lot, especially if you are working full time.

Time:  Again?? Yes. If you found out that you have profits when you sell, you may decide to sell. When you intend to sell, you need time to sign the documents to sell. If you are not
engaging agents,
 you need to show your property many times to prospective buyers. If you engage one agent, you need to show the agent once, give the keys and if the agent is unable to sell, you need to engage the second agent. If you engage more than one agents but you do not want to give them the keys, preferring to open the door yourself, then you spend even more time!

Time:  Your requirement for time does not end when you sell. It has just started. In fact this would be the longest. Yes, when you need to
sell the property for profits
 / money, the typical period that you will get your full payment is 4 months, or more if it is leasehold or incomplete documentation. So, you may not be able to know for sure, exact time that you would ever get the full payment when you sell your property. If you need money fast,
selling property
 is not going to be a good option. Please take note.

As you can see from just a few examples above, in property investment, you also need to invest your time. Worth your time? Go and buy a few books on property investment, then you decide. Oh yes, you can still continue to spend your time happily even if you do not do property investment. Truth is, contentment is never about how much you have in your bank account. Just make sure you are
protected though via insurance

etc when you do not do investments.

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Hi kopiandproperty.com readers, I do not usually speak in property events. I prefer to read and then share by writing, actually. However, my good friend, Barry from Chester Properties invited me to share since last year and with a good venue provided, I agreed. Hope to see you in Malacca during my talk. We can enjoy a coffee chat as well. I have a few awesome readers from Malacca joining too. Hope to see you there. I will be presenting a talk entitled, “What’s happening to Malaysia’s property market in the near future?” Some of the topics covered include, “What are the signs of a potential property bubble?” / “Better to buy during a crisis? When is it happening?” / “Why is it harder to get loans approved? Are banks stopping their lending?” and more….. You can register by calling the numbers on the image or

register online here.
 Besides the sharing and coffee chat, a free buffet lunch would also be served. All three are FREE. 🙂  However, this is limited to the first 50 who signs up.

The details of the talk as follows:

Date: 22nd April 2017 (Saturday)

Time: 1030am

Venue: Marina Point Sales Gallery (Waze: Marina Point Klebang)

It’s a national holiday on the 24th April. It’s time to drop by Melaka for a family vacation or even another local honeymoon. Yes, the never ending food trip too. I have never left Melaka without at least 1kg up. 🙂  See you there.
Online register here.

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You pay now… or we will seize your assets!

Actually, I have written about this a few times but I think it’s worth giving everyone another ‘scare.’ I meant well. We do not want those people who continue to think that there would be no enforcement anyway. This is Malaysia? Wrong. It has been happening and it will now continue to happen. Failure to pay the assessment tax may also mean owners could face arrest warrants yeah. Read on to understand that 27,292 arrest warrants were issued in 2019.

Article in edgeprop.my here.
 Selayang Municipal Countil (MPS) has reminded property owners that if they fail to settle their assessment arrears, they may have their movable assets seized and auctioned off. Its president Shamsul Shahril Badliza Mohd Noor said Section 148 of the Local Government Act 1976 “empowers local authorities to enter any house or building during the day to seize movable assets to offset arrears owed by the property owner.”

He also said that from Oct 1, 2019, 27,492 arrest warrants have been issued to owners with arrears of RM200 and above.  “MPS will visit residents or owners who fail to settle their assessments after seven days of receiving the warrant. Our enforcement unit will seize movable assets amounting to the arrears owed and we will do this on a weekly basis.”  He shared an actual case where a company of leasehold land lots owed up to RM700,000, Shamsul said the council auctioned off one of the houses on the land in Rawang last September. More details here:
Article in edgeprop.my here.

Guys, it’s real. 27,492 ARREST WARRANTS to the owner if there are arrears of RM200 or higher. Even a home has been auctioned off because of the arrears yeah. Of course, it does not usually reach that level. Usually it would be your fridge, washing machine and other movable items but those will not help much unless the arrears are not high. Oh yeah, the argument that the assessment rates are too high etc? It’s another topic yeah.

Local authorities are also asked to review their assessment rates too. Recent article:
Review your taxes please. So, it should be higher?
Let’s be happy paying rather than be angry when the council staffs come visiting yeah. Just like credit card debts, the longer we delay in paying, the higher the arrears are going to be. I am not a supporter of discounts after a very long time just to encourage people to pay. If we pay quickly and get a discount, sure! Happy understanding.

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Tax me lower please. I am the one living here.

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You viewed, you hated, now discounted.

This topic crops up every time I have coffee session with friends. That question of ‘when will property prices be dropping MORE.’ Let me tell you with a story yeah. Next time anyone ask, at least I can send them the link to this article. 😛

Let’s say last year, we went to view a property. The location was very bad. It was deep inside a super jammed main road which meant that coming out during peak hours will take half an hour, just to join in the main road jam. The developer’s staff at the sales gallery was also rude and knows nothing about the project at all or give us all the wrong information. The layout of the unit was very bad. We have to pass through the kitchen before we could reach our rooms! (exaggeration, hopefully). Last but not least, it was priced above every other new projects in the area; overpriced naturally. So, we left the show gallery and we decided not to buy the project because nothing is right with it.

This year, that SAME project which we viewed and hated is now on discount. It’s 15% discount. Still the same location, same jam. We dropped by and the sales people are still ignorant and rude. The layout has definitely NOT changed. Question is, will we now buy when the price is discounted 10% or even 15-20%? Hopefully we are objective enough to understand that just because price is discounted, a bad product remains a bad product! Ladies and Gentlemen, when we buy a home, it will be with us for a long time and the mortgage payments are usually over the next 30 years. Are we prepared to overlook all the disadvantages just for the extra discounts?

Of course, let’s also understand that times are indeed slow for the property market for a couple of years already. Obviously there will be some good projects which the sales had been slower than usual and now with the Home Ownership Campaign 2019, the developers are willing to provide discounts so that they could finish selling and move on to their next project. These are the projects worth considering and buying. Remember yeah, the purpose of buying is NOT because of the discounts but because the development meeting our needs. If we need a home and the development meets nearly all of our needs and it comes with a discount plus stamp duty exemptions, this is the BEST TIME to buy. Happy reading and understanding.

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written on 4 March 2019

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You want FIRE? How much is needed to achieve FIRE? RM1x,xxx,xxx?

Financial Independence, Retire early a.k.a FIRE. Do you want FIRE?

Not common during my time (haha)

You want FIRE? You must be younger than me today. This is quite a new concept because people of my generation or even my parents generation are not well known to think about retiring at 40. I am 43 this year. However these days, many do believe it is now possible to achieve FIRE and then they could do what they love to do without needing to do the tasks / projects which the boss wanted them to complete. Let us not debate on whether can or cannot. I am sure many could achieve this. Already I have many younger friends who could just stop working if they like.

Let us look at what may be necessary if one would like to just stop working full-time and do whatever one likes to do. It could be travelling or even as simple as watching Korean drama every night and day. Here are the 4 signs one is ready to FIRE. By the way, ready to FIRE and ability to keep the FIRE until the day we say bye-bye will depend on many circumstances too. Many of these circumstances may be sudden and unanticipated.

Photo by Pixabay on
Pexels.com

#1 – What’s the age target?

We want to achieve FIRE. Have we decided on the age which we would achieve this? When we hit our 35th birthday? When we reach 40 years old? How about 45 then? By the way, even 50 is fine because the life expectancy is no longer 65 like long time ago but it’s 80 these days and the expectations is that this will continue to increase in future. Thus, retiring at 50 still meant another 30 years more to enjoy the FIRE.

#2 – What’s the earning power like?
(Yes, active income has to be way higher than your expenses so that you could save / invest)

Are we also working towards that goal by earning more than what people typically earns every month? Let’s take RM11,000 salary per month for calculation.
This is the minimum household income for a T20 household in Malaysia.
If these T20 households need to work 40 years (retire at 60) before they could retire, then if we wanted to retire earlier than them, then perhaps we stay focused on just working for 20 years and aiming at RM22,000 per month?

#3 – What’s the passive income AFTER FIRE?
(Yes, passive income will now have to be higher than your expenses)

When we actively get a fixed income every month, everything seems fine. As soon as stop working and we do not have a fixed income every month, then we better ensure we have a recurring income every month. Preferably this recurring should be almost the same as fixed income if not more. Just now we used RM22,000 per month as a benchmark. Well, if we want to save enough money into Fixed Deposit to earn RM22,000 interest per month, then we need to have RM13.2 million saved into FD in the bank. Erm… how?

Do note that property investments are illiquid even if we get a positive rental return every month. Meanwhile stock market, even if we were to buy the bluechip counter would still have unforeseen circumstances. Many of these companies which were deemed to be as strong as the oak tree has fallen. Nothing’s certain these days. So, do plan in some disruptions to these passive income which we are earning. It’s like having 6 months of savings just in case we got retrenched and needed a new job.

#4 – Are we protected against unforeseen circumstances?

You want FIRE?  Do get ready for unforeseen circumstances too. Do call up your insurance broker friends to understand more about medical cards, about other necessary protections based on our age and lifestyle. Please do not be penny wise and pound foolish because any sudden trips to the hospital for a week will likely to cause a huge dent in the expenses for many months. Suddenly, we are in deficit for the monthly passive income versus the expenses.

#5 – How low could our expenses be?

Beyond just the passive income focus, we also needed to know how low could our expenses go. If we are STILL paying rental, then do remember this amount goes up every year. My advice is to own a property which is fully paid on the day you decided you are ready for FIRE. Do finish paying for the car too and continue to drive the same car. If we intend to travel a lot, have we factored in this into the financial calculation?

If we are used to spending RM100 for food every day, are we ready to spend lesser? All these are to anticipate a sudden drop in passive income as well. No one knows when the future pandemic may strike.

#6 – WHY do we need FIRE anyway?

After all these and now I am saying this? Haha. Truth is, the lifestyle life we wanted need not be the life we need to have everyday.  I love to have coffee with friends and just talk about everything under the sun. I do not need to do this daily.  I love to jump into the sea and build some bad looking sand castles but I do not need to do this weekly.  I have visited probably around 20 countries thus far and I would love to do this more often than every other month but I still love my hometown and all my family members too.

By the way, what if I love my what I do? Haha. I love people interaction. I love to share what I know. I love to write. These are what I am already doing today. As they say, if you love what you do, a job becomes an interest. When it’s an interest, you will be good in what you do and somehow all the rest could just fall in place.

Photo by Pavel Danilyuk on
Pexels.com

#7 – We may already be some FIRE now.

Sit down and understand what’s the real difference of having a full-time job (which you have maybe 18 days of annual leaves and a total of 120 days of weekends and public holidays) versus a full 365 days of doing what we love to do. Do you want FIRE, everyday? Statistically, we already can do what we like 30% of all the days we have in a year. Not too bad, right?  This is especially true if our current fixed income already covers all our expenses including those vacations, occasional splash for tech gadgets and even giving a generous pocket money to parents.

Conclusion

One day, when both my kids are already independent enough, I would not want to keep telling them how to do things my way. By the way, I have not mentioned even one time that they should become a doctor, an accountant or an engineer or even whatever role I think will earn lots of money. They will have their own interest and will have their own lives in the future.

I think by then, I can have my FIRE. Yeah, probably close to 60 years old. Haha. Financial Independence and Retire Early. If I live to 80, by then I would still have 20 more years to do what I like. Visiting a country every 3 months still meant I could visit up to 120 countries. WOW. 😛  I rest my case for my FIRE. You want FIRE?  You need to decide.  Happy working towards our FIRE.

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Do you want millions? Start drawing, digitally.

As a licensed auctioneer, I have never auctioned off any art pieces. I have been the auctioneer for properties, car plate numbers and even bank notes. For all these items, it’s always about scarcity because scarcity decides the relationship between demand and supply. The reason why a certain property could fetch higher price is because there were no other choices of the same type within the same neighbourhood.

Car plate numbers? Well, there’s just ONE. As for bank notes, it does not repeat as well but the serial number needs to be that auspicious number favoured by the collector. For example, “88888888” would definitely be loved forever versus just any random number. What about art pieces? Specifically painting? In order for it to be scarce… you know the answer. However, the following news may be just the start of something new yeah.

Article in cnet.com
  NFTs are essentially cryptological certificates of authenticity. Christie’s, the 255-year-old British auction house, closed the sale of its first-ever digital-only art piece, a composite of 5,000 pieces created by the artist Beeple. The final price is an eye-popping $69.3 million (RM285 million).

NFTs bring to digital art a one-of-a-kind or limited-edition quality that’s been lost in the copy-paste, post-repost world of the internet. Each work of art is associated with a proof of ownership that’s recorded on a
blockchain
, the distributed ledgers most commonly associated with Bitcoin and other cryptocurrencies. The authentications, which can be applied to images, videos, music and other digital files, designate the original. Copies and copies of copies might abound on the web. But only one person can lay claim to the NFT behind it. Please do read the full article here:
Article in cnet.com

Image source:
https://www.cnet.com/news/christies-nft-auction-closes-at-69-million-as-digital-art-sets-off-a-gold-rush/

We need to know CRYPTO is a technology, it is beyond just Bitcoin

We start to see the effect it has on even collectibles today. Where everyone could copy and copy and copy but the original copy can only be attributed to one person. What this meant is also that the copyright is now REALLY protected. Perhaps the only issue would be to ensure the safekeeping of the password because if we read, there has been so many Bitoin owners who have lost the password to access their own Bitcoins and thus have not been able to cash in on the super climb of the Bitcoin price.

Last but not least, if we really want to think about earning millions and we happened to be extremely good with art, the world is now our oyster. Do something about it to pry open that pearl inside the oyster yeah. Just remember to also market those capabilities too because we could only sell when people know us and thus could recognise the work with a value which is definitely beyond what one would have thought was possible then.

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IJM Land’s RM275k Suria Pantai affordable homes just 3km to Mid Valley

Press Release by IJM Land & Amona Development.

RIGHT
 IN KL AND DOESN’T COST MILLIONS?!
IJM Land & Amona Development launch the ultimate home for you to work, live, and play.

Young professionals and families looking to start a home—hear ye, hear ye! Smoothen those furrowed brows because IJM Land and Amona Development have built the perfect solution to your concerns—the attractively-priced and strategically-located
SURIA PANTAI
.

When the city is brimming with opportunities and commercial hubs, living then comes with a hefty price tag—one most young adults cannot afford. Hence, IJM Land and Amona Development   in   supporting   the   government’s   initiative—Rumah   Mampu   Milik   Wilayah Persekutuan (RUMAWIP)—to cater to the need for more affordable mass-market homes have developed
SURIA PANTAI
that is priced at a very affordable RM275,000.

“
We support the government’s efforts to make houses more affordable for our fellow Malaysians, especially the younger generation.
SURIA PANTAI
is located in The New Golden Triangle of Kuala Lumpur—positioned accessibly within reach of amenities as well as paths of connectivity. It’s about 3km to Mid Valley and 5km to KL Sentral. Considering its prime location, where surrounding properties are priced at the millions, this development is a true value for money option that should not be missed,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM Land.

SURIA PANTAI
will benefit significantly from the upcoming Pantai Sentral Park Interchange, set to be completed by the fourth quarter of 2018.The interchange will link homeowners to major hotspots in neighbouring areas including KL, Petaling Jaya, Bangsar, Cheras, Subang, and Sunway.

With 896 units in total,
SURIA PANTAI
is low-density and offers sufficient built-up space measuring 810 sf in a building that comprises of 34 floors with 26 units per floor. The 3-bedroom, 2-bathroom layout is functional as it meets the needs of all home buyers be it single working professionals, married couples, and families. With each unit, homeowners are entitled to one parking unit in the covered car park. The development will feature facilities such as a swimming pool, a playground, and a multipurpose hall for work and play. Additionally,
SURIA PANTAI
is gated with a security service to ensure the safety of its dwellers.

Another major highlight is Taman Rimba Bukit Kerinchi, a 200-acre forest reserve that lies at the edge of the development—a sure hit among nature lovers who would be overjoyed to partake in a multitude of different activities such as hiking, jogging, and cycling. Even residents who are not nature-enthusiasts would find peace and tranquillity amidst the verdant views and lush greeneries that the forest reserve has to offer. Bukit Kerinchi is the perfect getaway from the city and an entrance into a different world.

At
SURIA PANTAI
, homeowners will wake up to crisp morning air accompanied by the music of birds that will still every dweller’s heart and bring them happiness as they start their day. There is a zen quality; a gentle hum from the natural surrounding and the fresh air will allow homeowners a break from the hustle and bustle of the city. A time and space to heal, to reflect, and to spend time with loved ones.

“Homeowners will love how close they are to nature and to surrounding amenities like shopping outlets, education centres, healthcare institutions, retailers, hotels, golf clubs, and parks,” added Dato’ Hoo.

Couples with children will be glad to know that schools are within the vicinity of the residence, which include SK Bangsar and SMK Seri Pantai, located roughly 2km away. Even running errands and performing everyday necessities are convenient with retail stores and malls like Mid Valley, KL Gateway, Aeon Prime and bank facilities within close proximity. The development is strategically located near train stations along the LRT and KTM lines such as KL Sentral, University LRT and Pantai Dalam KTM. Other nearby amenities include educational institutions like Universiti Malaya as well as healthcare centres such as University Malaya Medical Centre, Pantai Medical Hospital, and Columbia Hospital.

Single individuals with a monthly income of less than RM10,000 and combined household incomes of no more than RM15,000 are eligible to enjoy a life of convenience this residence offers—provided they are currently working and residing in Wilayah Persekutuan.

The development is now open for registration via
SURIA PANTAI
’s official portal:
http://www.suriapantai.com
. For more information, interested buyers can also visit the sales gallery, ICE Gallery Pantai Sentral Park, located at Lot No 2, Level 1, Jalan Pantai Sentral, 59200 Kuala Lumpur.

– End of press release –

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IJM: Aiming at hitting yearly target of RM1.6 billion (better than last year?)

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Lifestyle is not about spending more, it’s what we are comfortable with

This is not something I say yeah.
Millennials most likely to post deceptive vacation photos to make social media followers jealous. Click here for the article.
  However, it does reflect the current situation with most of the millennials I know. They will go overseas vacations every year without fail but has never visited Sabah / Sarawak or even some states in Malaysia. Their reason? Nothing interesting and it’s expensive. Actually, it’s more likely due to this, ‘If I visit some places in Malaysia, it is STILL Malaysia. If I visit some overseas destination, I can take some nice photos and tell the world that I am OVERSEAS.” Before I go further, I just want to say that as long as we are truthful about what makes us comfortable, just go ahead and do it. Just do not spend everything and later complained that everything else is expensive…

As for spending within our means, here’s someone who’s worth much more than most of everyone on this planet. Chow Yun Fat is an international star worth HK$5.6bil but he spends just roughly HK$800 (RM424) a month, Oriental Daily reported.
Here’s that full article in Asiaone.com
 His wife Jasmine Tan revealed that Chow enjoys eating street food and has been using her old handphone for 17 years. (WOW, 17 years… meant that he does not need to access the internet or have a Facebook account perhaps)  She said Chow only changed to a new smartphone after the old phone stopped working. Chow still sees himself as an average man, who finds joy in living the simple life. Often seen commuting on public transport dressed in old clothes, Chow said that “clothing was not something to show off and anything is good as long as he feels comfortable in it”.
Here’s that article in Asiaone.com

Okay, I think that RM424 per month refers to food instead of including the rental or mortgage. However, it’s not just Chow who could live with RM424 per month for food. Divided into 30 days, that’s RM14 per day.  Divided into 3 meals per day, that’s roughly RM5 per meal. Definitely still doable even in Malaysia IF one really wants to do it yeah. Economy bee hoon plus an egg and a kopi-O will definitely be cheaper than RM5 unless we eat it within a air-conditioned restaurant. Economy rice with one vege and a small portion of meat is not just economical but healthy too. If we are hungry and needs a coffee break, a 2 in 1 coffee is merely 40 cents per pack and we can dip a few pieces of cream crackers into it as well. Dinner is best because we can eat at home… One day in the future, this amount may no longer be feasible but as of currently,
it’s merely a CHOICE.

Should we feel inferior just because we did not use too much money? That’s an answer that everyone has to answer for themselves. Cheers.

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written on 12th Oct 2018

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Simply spending way too much, dear Malaysians

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Your money is your money. Period.

Your money is your money. Period.

When our income stops, do we have enough money to still live comfortably? Or would we have to cut off all our usual expenses down to the minimum and always frown when we look at the depleting savings account on a daily basis? Well, how about spending our money for ourselves versus leaving them all for the next generation? How much is enough for us and how much is enough for them? Here is an advice from someone quite influential in the real estate world as well as some facts about Malaysia. We are already an ageing nation and will become an aged nation by 2044.

Article in edgeprop.my
   A shout-out to seniors and those getting there. You deserve to unlock the equity value of your property to retire in comfort.  Malaysia will becoming an aged nation in 2044 (14% of population aged 65 or higher). We are already an ageing nation today (7% of population agead 65 or above). By 2056, we will become a super-aged nation where 20% of the population is aged 65 or higher.

Rising cost on top of shrinking savings are the dilemma of many retirees who do not have a pension for support. In December 2021, EPF said that 6.1 million of its members had less than RM10,000 in their savings. Among these, there are 3.6 million with less than RM1,000 in their account. The article has more details and also talks about Malaysia’s first reverse mortgage scheme. Here’s the article:
Article in edgeprop.my

How much to leave for the children?

How much money should a parent leave for the children? I do not think there’s an universal answer. I think in ASIAN context, the answer is a lot. Some parents may be willing to spend little on themselves and give everything to their children. In the western context, the answer is likely to be much lesser versus the ASIANs.

My personal belief is children should be given some of the wealth but the wealth accumulated should also be spent by the ones who accumulated them. Yes, that includes me as well. I firmly believe that just earning, saving and then giving it all away is not a wise decision.

All the best everyone and please remember that all work and no play makes Jack a dull boy. 30 years of non-stop working must have at least 20 years of comfortable life, at least.  Cheers.

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Financial News: Your monthly mortgage and other loan repayments will increase

Surprise move maybe but this was what many people wanted (not me though)

I think this removes away the typical chatter that because there are potential for rates to move up in that one particular world currency, so people prefer to buy that currency and thus ringgit is under pressure all the time. I read this kind of analysis until I am numb now. By the way, exchange rate should just be mostly driven by trade and not all these specualative thoughts. You want speculation, you go invest into something else.

Currency speculation can ‘kill’ many innocent people. The country with HUGE trade deficits, why is their currency still appreciating? Yes the country exporting more, their currency depreciates so that the country buying it could BUY MORE at the expense of the country exporting it? The poor farmers who worked so hard and suddenly their earnings drop by 30 percent? Does this even make sense? I have no answer but do look at the stats and we should start to realise that the days of just one world currency is too dangerous to continue without any other options. Happy reading the full statement from Bank Negara Malaysia as below. My conclusion right after.

Media Release by
Bank Negara Malaysia: (link to article here)

Monetary Policy Statement

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to increase the Overnight Policy Rate (OPR) by 25 basis points to 3.00 percent. The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 3.25 percent and 2.75 percent, respectively.

The global economy continues to be driven by resilient domestic demand supported by strong labour market conditions, and a stronger-than-expected rebound of China’s economy. Nevertheless, the global economy continues to be weighed down by elevated cost pressures and higher interest rates. Headline inflation continued to moderate, but core inflation has persisted above historical averages. For most central banks, the monetary policy stance is likely to remain tight. The growth outlook remains subject to downside risks, mainly from an escalation of geopolitical tensions, higher-than-anticipated inflation outturns, and a sharp tightening in financial market conditions including from further stress in the banking sector.

For the Malaysian economy, latest developments point towards further expansion in economic activity in the first quarter of 2023 after the strong performance in 2022. While exports are expected to moderate, growth in 2023 will be driven by domestic demand. Household spending remains resilient, underpinned by better labour market conditions as unemployment continues to decline to pre-pandemic levels. The pickup in tourist arrivals is expected to lift tourism-related activities. Further progress of multi-year infrastructure projects will support investment activity. Domestic financial conditions also remain conducive to financial intermediation, with no signs of excessive tightening affecting consumption and investment activities. Risks to the domestic growth outlook are relatively balanced. Upside risks mainly emanate from domestic factors such as stronger-than-expected tourism activity and implementation of projects including those from the re-tabled Budget 2023, while downside risks stem from weaker-than-expected global growth and more volatile global financial market conditions.

As expected, headline inflation trended lower in recent months on account of moderating cost factors. Both headline and core inflation are expected to moderate over the course of 2023, averaging between 2.8% – 3.8%. However, core inflation will remain at elevated levels amid firm demand conditions. Existing price controls and fuel subsidies will continue to partly contain the extent of upward pressures to inflation. The balance of risk to the inflation outlook is tilted to the upside and remains highly subject to any changes to domestic policy including on subsidies and price controls, financial market developments, as well as global commodity prices.

With the domestic growth prospects remaining resilient, the MPC judges that it is timely to further normalise the degree of monetary accommodation. With this decision, the MPC has withdrawn the monetary stimulus intended to address the COVID-19 crisis in promoting economic recovery. In light of the continued strength of the Malaysian economy, the MPC also recognises the need to ensure that the stance of monetary policy is appropriate to prevent the risk of future financial imbalances. At the current level, the monetary policy stance is slightly accommodative and remains supportive of the economy. The MPC will continue to ensure that the monetary policy stance remains consistent with the outlook of domestic inflation and growth.

Briefly, this is what it says with the rates moving upwards

Bank Negara Malaysia (BNM) says that it has decided to normalise the degree of monetary accommodation. Brifely, what this says is that the economy has started to move positively and the accommodative stance can now be slowly removed. I think this is a good overview of what is happening to the Malaysian economy. People are moving back into office versus just working at home in droves which meant that all those restaurants, food stalls would have more businesses instead of just a smaller group of business which one could find in the app or even just some simple meal if one is at home. Tourists are coming in as well which will boost the economy further. I know because I have been travelling frequently last year. From the days when I found KLIA to be rather empty to the days when I had to arrive much earlier so as not to be late for my flight. Amazing turnaround indeed.

— end of monetary policy statement —

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Vulnerable. You feel your salary is too low?

Some of us feel that our salary is too low. Some feel that the company is not appreciating us enough and thus is underpaying us.

One picture tells a thousand words. Maybe more. Maybe it tells of how the income has been moving for many different generations? Perhaps it tells indirectly how some groups of people have been earning by far more money than a much bigger group of people? By the way, it’s not even billionaires these days. It’s multi-billlionaires and the richest man is now worth over US$200 billion. Before we go goo-goo gaa-gaa over these numbers, let’s get back on the ground and look at where most working people are, grounded these days.

By the way, the below image is for America yeah, not Malaysia. Please take a look at the “Decline of Upward Mobililiy in One Chart”
from visualcapitalist.com
 .

If you like to read the full article, it is here:
Article in visualcapitalist.com

Study Hard, Earn Higher Salary

I still remember when I was younger and my parents told me to study hard so that one day I could get a good salary (yes, they hope my salary will be higher than them). Actually, they were quite right. If you look at the image above, probably 55% of everyone born in the 1970s actually earn higher salaries than their parents if their parents salary were in the 50th percentile. That’s quite a good number but if we were born in the 1960s over 60% of everyone actually earns more money than their 50th percentile income parents.

Similar situation in Malaysia

I think, many would say that it’s not that big difference when it comes to Malaysia. Fresh graduates continue to complain that their salary is too low or have stayed stagnant but everything else has gotten more and more expensive. Then again, it’s also super important to note that perhaps the reason is also because these days degrees have become rather common and thus, the ability to command a higher pay is no longer that common.

What could we do then? Stay competitive

These days, a degree holder has become very common even if not as common as in Singapore or Hong Kong or the U.S. yet. However, majority of degree holders may not possess the ability to communicate effectively. I am serious yeah. Think of a doctor, an engineer an accountant or even a lawyer who has the qualification but NOT the ability to communicate confidently and eloquently? Would you like to see a specialist doctor who does not like to communicate about your condition? Do you think an engineer could become a Head of Department if he could not communicate properly? Do not stop at the base level yeah. A degree may just be a base level in the future.

It can even be a Master degree because majority of my peers do not yet have a Master degree. Does it help directly? Maybe, maybe not. Does it help indirectly? Yes, definitely. Think about it, when the chance for promotion to senior manager comes and both are equally qualified, do you think they choose the more handsome guy or the higher qualified one? One of these two people may be complaining in future that their salary is too low. As this senior manager may be representing the company, a Master degree in the profile is way better than just a degree or a diploma.

Salary really depends on you

During this COVID-19, we hear of people losing their jobs. Before COVID-19, the complaint for the longest time was that salary is too low. Ask around, we continue to hear of people resigning and joining another company with higher pay and a better position. We hear of fresh graduates struggling to survive with their paltry salary. Yet, at the same time, there are fresh graduates who were able to get a few promotions even before they reach 30 years old. This is the world we live in. No one owes us anything. When times continue changing, we have to continue running ahead of the change. Happy understanding and changing.

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Zepp Hall Network in Bukit Bintang City Centre too

2 days ago, I wrote about LaLaport opening in Bukit Bintang City Centre (BBCC). Read here:
LaLaport Mall from Japan in Bukit Bintang City Centre by 2021

Another interesting name has been announced as coming to Bukit Bintang City Centre. It’s Zepp Hall Network. Yes, I guess everyone would be scratching their head about this name. As per wiki,
“The Zepp music halls are a group of
Japanese
 music halls covering every area of the country. The Zepp halls play host to many international tours and are a popular stop among Japanese musicians. Each venue takes the Zepp name, along with the city in which it is located. The Zepp company is a subsidiary of
Sony Music Entertainment Japan
.”

The agreement with Zepp Hall will be for the development of a live concert hall in BBCC which can hold more than 2,000 audience. Zepp Hall is a subsidiary of Sony Music Entertainment (Japan) Inc. and its core business is venue operations. This concert hall located within the Entertainment Block in BBCC is next to the retail mall and is expected to be a top entertainment venue in the region. I think this would be one of those venues where some famous and exciting artistes perform and the rest of the people dancing on the floor? A check online revealed that another Zepp music hall, the Zepp Namba (Japan) has the following,
“Since the hall is equipped with the state-of-the-art lighting and acoustic facilities, audiences can enjoy an excellent acoustic environment anywhere in the auditorium.”

I think this is definitely a wow. Yes, now I agree that this may be another tourist attraction when tourists drop by BBCC or KL.

An MOU was also signed with Ascott, a member of Singapore’s CapitaLand which will bring a global award-winning brand to BBCC. I have stayed with Ascott Bangkok a few times and I can safely say that the standard is very high. I would recommend it to anyone looking for comfort and style. Some other information about Ascott is that it is the largest international serviced residence owner-operator in the world with experience in managing over 45,000 units in 290 properties, spanning 100 cities in 27 countries across the Americas, Asia Pacific, Europe and the Gulf Region.

Okay, BBCC is off to a good start despite current slowdown. I always like this kind of integrated developments because it would also attract foreign interests and not just Malaysians. Seriously, we do need to attract more if we would like to continue moving up the ladder in terms of a property destination for the world. Happy visiting and perhaps do bring along your cheque book? 🙂

written on 28 Mar 2016

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Effects from a zero GST for typical Malaysian households

When the GST becomes zero in a week’s time, how much would we be able to save from what we spend on a daily basis? I roughly calculated. I could probably save anything from RM2-RM4. Let’s not talk about big ticket items yeah. Just the usual breakfast in a franchised mamak, lunch in a usual cafe with set lunch and dinner at the kopitiam nearby my kids’ nursery. I think my calculation may be overly simplified but here’s an estimation by National House Buyers Association (HBA) secretary-general Chang Kim Loong.
The article that quoted him is here, in FreeMalaysiaToday.com
 He says that with the abolition of the GST and TOLLS, a typical Malaysian family would be able to save RM400 a month. When we look a little further, RM400 for a year is RM4,800 and within just 5 years would be RM25,000 which is enough for downpayment to an affordable apartment! Perhaps with the abolition of GST together with the toll, nearly every Malaysian household would be able to buy a home.

Anyway,
when we look at the article in FMT
, Chang says that prospective house buyers expecting an immediate reduction in property prices will most probably not be getting it. This is because the government’s decision to zero-rate GST pending the re-introduction of the sales and services tax meant that developers are in a dilemma over the pricing of properties already built or under construction. This is because GST is applicable to materials, professional fees and other costs. He said, “If they bring their prices down by 6%, they will be lowering their profit margins.” This may not be likely and thus it will take some time for the property market to recover. Meanwhile, chartered property surveyor Ernest Cheong said it would take about two years for the property market to recover and it will benefit mostly those looking for properties priced at RM300,000 and below. He also said that developers should “forget dreaming” about making big profits.
This is the full article for reference yeah.

Frankly, I do not think the toll could be abolished within 100 days yeah. I also disagree with sudden abolishment because even these concessionaires would need time to adjust. What will happen to their workers? It is however true that when people have more money in their hands, they may be able to buy more things, including property. This will surely help to drive a stronger property market. With the 1 million homes being built within 2 terms of the government, then the prices would be stabilised instead of being pushed up so high and fast due to the demand for them. I also do not believe the home prices would be significantly affected by GST. In fact some rebates offered by developers are already bigger than 6 percent today. Happy following.

written on 23 May 2018

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Malaysia, we have ZERO inflation for 2020?

Everyone is scared of inflation. They always say the official inflation number does not reflect the situation on the ground. Well, I think they failed to understand that the inflation number is also about how much we spend as well.
So, if inflation our friend or foe? (earlier article)
 Well, for 2020, we do not need to argue I think. With the current Movement Control Order (MCO), our ability to buy a lot of things is curtailed.

Yeah, we can shop online but the truth is, those expensive lunches and dinners we used to eat has now turned to instant noodle and one egg yeah… So, the spending has reduced tremendously and this will affect our inflation numbers for 2020. Briefly, the inflation number is expected to be ZERO for 2020. Perhaps some may hope that the property price will also stay at zero reduction this year since there are so many predictions that it will be dropping.

Article in themalaysianreserve.com
 . RAM Rating Services Bhd (RAM Ratings) has revised its inflation forecast for Malaysia this year to 0% from 0.7%. Reasons include weak global oil prices, generous discounts for household electricity bills and subdued demand. It said in a statement, “Going forward, we envisage a deflationary trend in the second and third quarters of this year. A key trigger of the downward revision is the likelihood of a deeper and more persistent weakness in oil prices amid a supply glut.”

It also said that the downward inflation is also due to the substantial discounts on electricity tariffs for households as announced under the COVID-19 stimulus plan. There are rebates on electricity tariffs which included discounts of up to 50% for six months depending on usage. RAM Ratings said, “Given the 2.7% weight of electricity in the overall Consumer Price Index basket, this initiative is estimated to ease inflation by another 0.2 percentage point.” Please do refer here for the full article:
Article in themalaysianreserve.com

I do not think many would think a high inflation is good. Prices of goods and services kept going higher while our increment is struggling to keep up. However zero inflation for a long time I also think it’s not a good sign for the economy lah. It meant that everything stays the same, so of course property price will also stay stagnant. Not so realistic lah. If inflation is zero, then why give salary increments?

Of course, when the inflation is low, the economy shows a slowing down sign and the next one to go lower may be the interest rate. There is already that potential.
Lower mortgage rates would be lower fixed deposit rates too
 So, for 2020, just enjoy all these low numbers and perhaps take advantage of it yeah. I am not so sure if everyone loves to buy when the interest rate is high yeah. Happy understanding.

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Stay safe, buy within affordability and stop bubble building

Property bubble will burst when majority of all properties in the market becomes so expensive that no one could afford to buy one. That’s why when everyone is buying above what they could afford and the banks still lend to them, we are staring at a potential property bubble bursting. Read here:
Spotting signs of a property bubble, 3 points (updated)
 Well, recently reported in The Star, Bank Negara Malaysia’s governor Tan Sri Dr Zeti Akhtar Aziz advised first time home buyers to buy within their affordability. My first property was also just a 700 sq ft apartment in an area which Penangites do not love. Truth is, not everyone can afford to buy a landed property or condominium as their first home. What’s wrong with an apartment? Not many can afford to buy in hotspots. What’s wrong with expanding the choices to those areas 10 minutes away? There are still landed properties for below RM500,000 if you really must buy landed but it is not going to be in Mont Kiara or Bangsar lah. Even buying a property in Kuala Lumpur meant lots of areas o choose from and not just that few….

Prices in hotspots did not go up simply because of land cost or labour cost. In terms of land cost versus gross development value (GDV), it is still around 10 percent or maybe up till 15 percent. The prices of these hotspots went up because majority of everyone somehow believed that they must only buy that few hotspots only! This created a demand which is far more than supply in that particular area which actually does not apply to every other secondary choices. That’s why there are areas which can easily sell at RM1,000 per sq ft but we can still find those which are priced at just RM400 per sq ft if not lower today.

Banks are still lending but because of their internal property valuations, they would not lend everyone 90%. Some properties deemed too expensive would meant they are willing to release just 80% or lower. According to Zeti, the loan-to-value ratio for first-time home buyers is different. Of course, they must still demonstrate that they have passed the test of affordability that they can afford to buy the house. It would be worse if someone were to buy something above what they could afford and this may cause them to sacrifice some of their other basic needs.

Want to know what the industry is saying? Well, House Buyers Association is asking everyone to play buying their property as prices are sure to come down, perhaps next year. Read here:
HBA: Buy property later, prices are falling
 This is however not the only point of view. REHDA said that due to the increasing of their costs including labour and the effects from GST and a falling ringgit, the prices of homes have to increase or it will be tough for the developers to build. Read here:
Ringgit down, thus property prices up

Do decide on the side that you want to believe. As for me, I would agree with Zeti because we must think about our needs first, not wants. Given a choice, I would love to buy a landed property in Desa Parkcity for example but I needed to also take care of my other basic needs. This is the reality we just have to accept. Note though that quality of living wise, we may just have to change our lifestyle a bit and we can buy one level up. Buy objectively ok. Read here:
Buying a new home? Ask why, not just where

written on 30th Sept 2015

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Zeti: GDP up 4.7% for Q3, ringgit significantly undervalued

It’s okay, as usual I have yet to see even a single Facebook sharing about this piece of positive news. Reported in many medias, for Q3 2015, Malaysia’s gross domestic product (GDP) expanded by 4.7 percent. It’s lower than Q2 but is within expectations of majority of all analysts. It also meant that the 2015 projected GDP growth remain intact. It gained from export numbers and domestic private sector demand growth. In fact domestic demand rose 4.4 percent. In a statement, Bank Negara said, “The private sector continued to be the key driver of growth during the quarter. On the supply side, all economic sectors continued to expand during the quarter.”

The two key sectors supporting the economy grew too. The services and manufacturing sectors grew 4.4 percent and 4.8 percent respectively. When it comes to the Malaysian economy, always watch these two sectors. Read here:
Malaysian economy? Always watch Services and Manufacturing

Currently, Malaysia has the three usual signs usually associated with a fundamentally strong and growing economy. They include our current account in surplus (exports higher than imports), unemployment at about 3 percent (In economics, full employment) and inflation within Malaysia’s long-term average. These three are most often quoted when analyst are looking for some signs about the state of the economy.

The US has a trade deficit and a 5 percent unemployment rate currently. Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz also said that Ringgit may recover when the US Federal Reserve normalises interest rates and “domestic issues” in Malaysia are resolved. She said, “Our export growth remains fairly strong, it has not moderated to the extent that we expected.” In fact the Malaysian exports and industrial production beat economists’ estimates in September. End of a brief but encouraging report. This growth is achieved amidst slowdown throughout the world. Oh yeah, potentially global recession in 2016 too. Read here:
Getting ready for the next global recession?

Happy reading.

written on 14 Nov 2015

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Standing on top of a glass bridge and looking down? Argh………..

Take a look at the image. Would you try? Okay, I would not dare to try. I also not think my wife would ever allow me to try which is good news for me. Well, based on all those who have tried thus far, there has been no report of any untoward incidents. Yes, this is The Coiling Dragon Cliff, a platform hugging the Tianmen mountain with a  1,402 metre drop. This is part of the glass skywalk complex in Hunan province’s scenic Zhangjiajie grand canyons.

Next image shows the Zhangjiajie Grand Canyon Glass Bridge which is said to be the world’slongest and highest glass bridge. Looking at the image, these are all the daring volunteers, 30 of them with sledgehammers to try and collapse the bridge. All of them obviously failed because the safety event was on 26 July 2016 and the bridge will be opened to the public this Saturday (20 August 2016) as per reported in NST. Besides these sledgehammers, the bridge also survived the weight of a Volvo SUV with 11 passengers  as well as 25 people jumping on a single glass panel.

Some other details for the bridge. The Zhangjiajie suspension bridge is made of 99 panels, and is designed to support the weight of 800 people. A bungee jump attraction is being planned for the most daring visitors. Then again, I think standing and looking down may be scarier than jumping down. Haha. To readers who would be dropping by soon, dosed me some photos. Would love to see from the safety of my computer screen. Happy visiting.

written on 17 Aug 2016

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Zuraida: “I am optimistic of the property market because…”

Every time someone tells me that the property market is about to collapse, I would smile and say I disagree. Their next statement is always ‘look at the oversupply’ I repeat, oversupply and property bubble bursting are not necessary the best team-mates. Here’s an easy to understand video yeah.

I personally think the property market is always about demand vs supply. As for demand vs supply, it’s also affected by sentiment. A positive sentiment means people would be more willing to buy while a negative one will mean people will think over a longer period instead of confirming their purchase because a property is usually the most expensive item that will ever buy in their lifetime. Today, we have a positive assessment from our Housing and Local Government Minister Zuraida Kamaruddin.

Article in EdgeProp.my here.
 She (Zuraida) said, “I am optimistic of the property market because of the policies and with all the efforts [by] different parties, the market will improve and the rakyat will benefit [and can] own a home. Things will get better for all of us, hopefully.”  She is also supportive of Napic’s proposal for a federal government committee to evaluate fair housing prices. She said, “The Ministry of Finance has the right to form the committee because they want to make sure that the cost of the houses commensurate with the construction cost. Therefore, it is about developers not making big-margin profits in their project [sales]. But I do not have to worry because the developers who are coming to see me, they said that they enjoy a 5% profit [which] is enough [for them].”  (Developers are looking at just 5 percent profits? I am not sure how many developers are looking at just 5 percent profit margin but I did not read any articles about developers refuting this yet…)

Next, we have Rehda immediate past president Datuk FD Iskandar who said that he hopes the first National Budget 2019 from the new government will have incentives to boost the overall economy and real estate sector specifically. He said, “This upcoming Budget 2019 is particularly important to provide clarity and clear direction, as well as reinforce the new government’s vision for the country which will hopefully set the tone not only for the next fiscal year but also the years beyond. How the government balances between the challenges of fiscal consolidation and growth as well as national debt will determine the market’s next course of action. We hope that the government will send positive signals to private and foreign investors about the affirmative reforms and growth opportunities that Malaysia has to offer.”
Here’s that full article in Edgeprop.my

Since the focus is now on the Budget 2019 in November, let’s just not say too much and wait for it. It’s just 3 weeks away actually. As for me, as a Malaysian concerned for other Malaysians, I am waiting forward to more details about the 1 million new affordable homes instead because I am sure the KPKT are well aware that the homes needed to be affordable and attractive enough or else, this new supply will just add to the oversupply numbers instead of allowing more Malaysians to own a roof over their heads. Happy following.

written on 12 Oct 2018

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Zuraida: We will find other ways instead for unsold property solution

Unsold properties are slowing down the market recovery. In fact it gives a negative perception that there’s oversupply which is not true. There are still by far more Malaysians without a home needing a home. Just that they could not find one which suits their preference and financial capability. Unsold properties also meant that some developers may face financial difficulties too; cashflow issue.

So, the Ministry of Housing and Local Government (KPKT) said that it was seriously considering vacancy tax and that as soon as the cabinet approves it, they will implement this as early as 2021. Earlier article here:
Vacancy tax coming in 2021
. Well, there has been many feedbacks from the industry and today, a new decision has been announced by KPKT Minister Zuraida Kamaruddin.

Article in edgeprop.my
  The Ministry of Housing and Local Government (KPKT) says it will find alternative ways to overcome the property overhang situation other than imposing a vacancy tax for developers who fail to sell their properties. Minister Zuraida Kamaruddin said, “KPKT takes the stand that we will find other methods to prevent developers from building houses that do not meet the people’s needs.”

“Before developers begin their construction, KPKT will look at whether there are projects proposed by them that are viable and meet the needs of the people.” She also mentioned about a data system saying, “When we have developed a data system, we should be able to get the right projection because then they (developers) would be able to assess by using statistical information to help them plan their construction in future.”
Article in edgeprop.my

Well, it’s back to the thinking block since there were no mention of any potential solutions currently. As for the developers, I think they could heave a sigh of relief but the truth is, their planning for future developments would now have to be much more thorough because this option of vacancy tax remains one highly potential one even after the unsold property issue is solved in the future.

By the way, the owners must also do their homework properly as well because as the name implies, vacancy tax is for any property left vacant and it can even be for home owners yeah. Waiting for the next proposed solution(s).

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