Penangites, see you on 3rd and 4th February 2018.

I have moved to Kuala Lumpur for 5 years. However, I continue to drop by Penang every two weeks. I still own properties in Penang too because I believe the current slow market is only a passing phase. Property market Penang is a very resilient one. On 3rd and 4th February 2018, there are a series of talks in conjunction with
Penang Property Summit’s “Meet the Buyer Session.”
 Please Do refer to the image for more information. You get to meet some developers who are participating there. For buyers looking for affordable homes, you may also get updates and register for low-cost, low-medium cost and affordable housing conducted by the Penang State Housing Department too.

I believe Penang property market will be continuously growing and that opportunities do not come often. By the way, recently, BBC News has a video which says that Penang may just be the Silicon Valley of the east.
Here’s the link to view.
See you on 3rd and 4th February 2018!

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Penangites ah, time to work harder please.

The more people in the country, the higher demand for goods and services. This is why countries with huge population would always fare better than small countries once they got the economy moving into the right direction. Malaysian population should be close to 33 million currently. Want to know where we are versus the world? We are a very small nation yeah. Merely 0.42% of the world’s population and I think a few more years meant that this number will get even smaller. This is why we need to have a strong ASEAN yeah. If it’s ASEAN, then we are 650 million strong yeah. That’s 8.5% versus the world. Plus ASEAN is within ASIA which is 4.64 billion. This is 61% versus the world.

Okay, now let’s look at what’s happening to the ‘production’ of more Malaysians.

Article in malaymail.com
  Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin revealed that Penang recorded the lowest fertility rate with 1.3 babies per woman aged between 15 and 49 in 2018. It’s not just Penang which the replacement level of 2.1 children yeah. Sabah’s fertility rate is at 1.4 children, Kuala Lumpur at 1.6 children and Sarawak at 1.6 children. On an overall basis, the fertility rate in Malaysia has dropped to just 1.8 children per woman aged 15 to 49 in 2018.

He said, “On average, the number of births in Penang is 60,000 births a year.  This rate is seriously (low) because we are below the normal rate of 2.1 children.” Mohd Uzir said that if this fertility rate continues to drop, then the current productive citizens will have to support their senior citizens for a longer period because that next succeeding generation who could share the responsibility is declining. Do refer to the
Article in malaymail.com

Briefly, any number below 2.1% meant that we could not replace the population fast enough. It also meant that we will start moving towards ageing nation (7% population above 64 years old) and later aged nation (15% of populations above 64 years old and one day we will become super aged nation with over 20% of the population aged 64 and above. Based on some estimations, we would reach ageing nation by 2030.

Based on these numbers, it is very critical that we build up our funds to take care of ourselves and our parents. Relying on our children will become slightly harder in the future especially with most couples having just 1 baby nowadays before both decided that 1 baby is enough. So, are you well prepared, yet? Or the other way is of course to WORK HARDER and build up the population yeah. Some estimations did say that COVID-19 will help population growth especially with those periods where everyone had to stay at home… Happy reading.

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Penang’s 10.5km tunnel. 15 mins from Gurney Drive to PIA. Super.

I have missed my flights from the Penang International Airport (PIA) 3 times. Twice was simply due to my mistakes but the very last time was due to the super heavy jam from Gurney Drive all the way to the PIA. The journey took 1 hour and 15 minutes. I was late by 5 minutes. In future, perhaps NO ONE WILL BE LATE for their flights at PIA. 😛  It will take just 15 minutes from the Gurney Drive to PIA when a 10.5km-long tunnel from Persiaran Gurney to PIA. Of course by then, it’s still best to give at least 30 minutes of travelling time instead of only leaving Gurney drive 20 minutes before the flight time yeah. This is part of the Pan Island Link 1 (PIL 1). Penang Chief Minister Chow Kon Yeow said the project will be challenging task, as apart from the 10.5km tunnel, it would also cut through several hill slopes like Bukit Bendera, Paya Terubong and Sungai Ara.
The article in NST here.

He is now asking for public to review the report prepared by the consultant appointed by the state government. The report can be referred by the public at 10 locations including National Library, Environment and Natural Resources Ministry in Putrajaya, Penang Island City Council (MBPP) apart from Department of Environment (DOE) and state government’s website. He added, “After receiving the feedback from the public, the consultant and the state government will provide explanations on the raised issue to the DOE.” Current travelling time from Gurney Drive to PIA is between 45 minutes to one hour. Chow also shared that the state government might seek funding assistance from the Federal Government if the proposal to build three man made island at the southern part of the island, dubbed Penang South Reclamation (PSR) were not approved. This is part of the Penang Transport Master Plan which will be funded through the reclamation of three man made island with the size of 809 hectares, 526 hectares and 324 hectares respectively for industrial, housing and commercial purposes.
Full reference to the NST article here.

Actually, I would also like more statistics for the PIL 1. For example, how many cars are expected to use it, how much would the toll be if it’s not free and whether this is already the cheapest and best mode.  Connectivity is awesome but just like what our new government has said, it’s not about just project. It is about the benefits from the project and the associated costs; how much could we save if there’s a better alternative plan? As for now, I am still waiting for the most important catalyst for the future of Penang; a new PIA. The current one will be fully ‘flooded’ with passengers within few more years. Yet, there are no solutions in sight. If funds are limited, then I think channelling it to the PIA is a better decision. A more connected Penang to the world outside would boost tourism (including medical tourism), industry connectivity to the world (instead of rail or ports elsewhere) and even the image of Penang when visitors visit. Do we really want to act only when majority of all visitors complain how crowded and congested the airport is? Happy following the Penang transformation story.

written on 17 July 2018

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Penang’s “affordable”, branded and not so low density

Long time ago, when I bought my first condo in Penang, a friend asked me why would I buy such a high-density project. The project’s name was Regency Heights in Sungai Ara. I laughed it off and told the friend that he should take a stroll inside before concluding whether it’s high density or low density. He did not and I did not care too. Anything above 500 units were considered high-density. Not many bothered to understand how big is the piece of land that the whole condo project was built. Well, fast forward to today, in Penang, this high-density argument seemed to have been replaced by affordability. As long as the price is still okay, no one bothers to ask for the number of units anymore. Why do I say so?

Well, there is a project which even I find to be “affordably” attractive based on the starting price, location and developer’s brand. It’s Eastern & Oriental Bhd (E&O)’s Tamarind project in Seri Tanjung Pinang, Tanjung Tokong. A good friend bought a unit in its first tower and this weekend (20th and 21st June), it will be launching its second tower. In fact first tower was 90 percent taken up since its launch in February 2015. The pricing started from RM600,000 for a 1,047sf three-bedroom unit and it comes with one car park. I think one reason why it was so popular was because majority of those who bought were already prepared for such a price for the area. If the area had been Teluk Kumbar or even Balik Pulau the price would not have been so easily acceptable.

According to it’s sales general manager, Christina Lau, “The Tamarind showcases unique facilities to cater to the lifestyle of its residents including a private one-acre waterscape of beach and free-form swimming and wading pools for the family to enjoy.” The Tamarind is in an area where these are nearby or within walking distance. Tesco hypermarkets, Straits Quay retail marina, Straits Green Public Park, Straits Quay Convention Centre, Penang Performing Arts Centre as well as the 1.6 km seafront promenade. Total number of units? 1,104. Yes, it’s nowhere near the benchmark of yesterday. In fact, many of Klang Valley’s new ‘affordable’ condo projects have even higher number of units!

Within Penang island and in the popular areas, RM600,000 is already accepted as a usual price and if you are a branded developer, then the price would carry some premiums too. Read here:
Penang affordable homes? RM300,000 – RM650,000 lah

Do note however that the prices cannot continue to rise as if there’s no tomorrow. Even within Penang itself, the popular areas are already way higher than the lesser popular ones. Penang state government has to continue attracting even more talents to work in Penang if it wants the property market to continue to be vibrant. I think if my good friend is buying for own stay, it would be a very safe investment. If it’s for rental, then it is likely to be hard as within Tanjung Tokong itself, there are many condo projects coming up. Selling for huge profits? I have to smile. Happy investing.

written on 19 June 2015

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Penang’s Gurney Wharf, definitely a WOW

A great news for Penang property investors I think. The Penang state government unveiled Penang’s new seafront public park to be named as Gurney Wharf. This is a wow news. Gurney Drive is a popular spot for Penangites and tourists and with this addition, it would become even more popular and definitely iconic. It will be created on land to be reclaimed by Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of Eastern & Oriental Berhad (E&O). There are four areas for the masterplan including a seaside retail food and beverage area, water gardens, a man-made beach and a coastal grove.

Total size of this seafront park is 131 acres and its currently in the stage of public feedback. It is on display at Level Two in Komtar as well as Gurney Mall Plaza. Assuming everything goes according to plan, the reclamation works would begin by end March. This is part of the STP2 reclamation. Read here:
STP2: RM1.078 billion to reclaim, GDV of RM25 billion

I think the highlight would be the man-made 400 metres of sandy beach which can be used for recreational activities. Seriously, a sandy beach so close to the UNESCO Heritage city is definitely a plus as tourists get more value for their money. Good news is that it’s not that far away. Phase One of the Gurney Wharf is expected to be ready by middle 2018.

To those who are now thinking or rushing to buy somewhere nearby this Gurney Wharf, seriously, Penang real estate has much more to offer. There’s no need to concentrate on just this small part and ‘goring’ the price even more higher. Only buy this if sea-view plus two malls within walking distance is a must. To those who are now objecting as it will create even more jams, do note that the plan includes 1,500 car park bays as well. Hopefully this will help a little in alleviating effects from any potential jams. The best would definitely be regular bus services from Georgetown and all other areas instead. Enjoy my dear Penangites. Another plus point instead of always ‘cheaper.’ Read here:
Penang: Visitors do not visit you because you are CHEAP
 I would definitely drop by and take lots of pictures to share with the world.

written on 23 Feb 2016

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Penang’s LRT may not be the BEST choice

This is about the future of the property market of Penang. Good connectivity, especially an efficient public transport will be a catalyst for economic growth which will eventually drive demand for properties. There’s no need to be surprised. LRT stations have always been a catalyst to developments surrounding it and well, property prices too. Penang wanted to have its own LRT under the Penang Transport Master Plan. Remember the ‘debate’ about the debate between LRT vs Tram? Here’s that earlier article:
LRT vs Tram. Let the best option win for Penangites.

We may have a conclusion very soon. Transport Minister Anthony Loke said that Penang’s proposal to have a light rail transit (LRT), a component of the RM46bil Penang Transport Master Plan, may not happen.
Here’s that article in TheStar.

His reasoning is that the LRT might not be the best mode of transport. There are also other available options. He said, “While the federal government fully supports the state’s proposal, there should be options for the state to choose from. Our studies by the Land Public Transport Commission (SPAD) show that there could be better models which the state could look into. There was no debate during his announcement though. Chief Minister Chow Kon Yeow says that the state was open to options of trams or LRT, bus rapid transport or mass rapid transit. He said, “Since the minister will send SPAD officers to meet us, we will look into the options as the studies were conducted in 2016 and have just been completed. The most important aspect would be securing the financing for the project.”
Here’s the article for reference.

It’s not back to square onelah. I think this announcement by Loke shows that the federal and state governments are really speaking to one another and with this latest announcement, I think the go-ahead for the most effective and efficient mode of transport for Penang will be announced soon, with the financing option part too because this was the part that Chow wanted from the beginning. My question will always be the same, what will be the policies that will accompany this new mode of transport. Remember, people will always favour convenience; driving over any other options which are only slightly cheaper for example. The only reason why the public transport in HongKong and Singapore worked was due to policies by the government. For example, EXPENSIVE car park rates or EXPENSIVE car, toll and other limitations. Happy waiting.

written on 7 Sept 2018

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Penang’s increasing population equals long term demand

According to Affin Hwang Capital Research, the property market of Penang will continue to be supported by the many major projects driven by public-private partnerships (PPPs). Some of them include the RM27bil Penang Transport Master Plan (PTMP) as well as a proposal for a RM11.3 billion business process outsourcing centre and an international technology park by Penang Development Corp (PDC) and Singapore’s Temasek Holdings. besides these PPPs, there are also property developers with huge mixed developments within Penang with total gross development value of up to RM60 billion! They include Eastern & Oriental, Eco World Development and Ewein Bhd.

Seems impressive and the numbers are huge but truth is, none of these have started. It should be soon and the two that I would be awaiting with interest would be the PPPs. These would be a catalyst for many more things to come. Without them, then it would be just the usual mixed developments which will find it harder to get even more buyers, especially if they are trying to sell ever higher prices in the areas which are considered hotspots such as Tanjung Tokong or Bayan Baru. Let’s be really savvy and understand that catalysts would take some time to happen and that’s why it should happen first before anyone starts buying, believing that whatever has been announced will happen. Yes, I rate this as the same as buying where new MRT stations are and thinking that buyers would buy them in future. Problem is, the current buyers are already paying a premium for these new launches near MRTs and they expect future buyers to pay premiums on top of their premiums to buy that property from them. Hmm…..

The research house also mentioned that Hewlett Packard chose Penang instead of Iskandar because the Penang government managed to convince them. Please understand that no MNCs would choose a state just because the state government tells / convinces them to. Not even investment friendly government policies. The reason is because these policies can be the friendliest in the states without much infrastructure to support these MNCs. If I am a new manufacturing company, I would choose Penang because of the availability of a skilled workforce. Penang is the hub for many world class research and manufacturing facilities since the days when Bayan Lepas Industrial Parks started. It may also be the logistics advantage, with airport and ports and even the train services, connecting Penang to the world. I am sure more would choose Penang. So, let’s wait for the next one.

One thing is for sure though, Penang is growing. When I first moved to Penang after my degree, Penang had just 1.2 million population. When I moved out of Penang, its population has already reached 1.7 million. With such a huge population, it meant that much of the growth were due to urbanisation. People moving to Penang for work and business opportunities. These would continue to fan the demands for more housing, as long as it remains affordable. Even though there has been many reports saying that Penang’s properties are way too expensive, I personally do not think so yet. Choices are still aplenty, the only issue is, are they at locations that these Penangites wanted. Just look at the second bridge today. There are hardly any cars. Batu Kawan is definitely not going to be a sudden sensation until 2018 at least. One major catalyst is supposed to be a new IKEA store.

Seriously though, let’s keep out focus on all the new catalysts that will keep the growth continuous. Give pressure to developers who try to tell the world that their projects are luxurious simply because you can see the sea and thus it has to be priced higher. Build good ones at affordable prices, buyers would come and profits will rise. Otherwise, be prepared to keep selling hard because the buyers today are much more well informed than those of yesterday. Comparisons can already be done easily. Distances and durations can even be calculated online! Happy loving Penang. I know I would too as I still have properties there.

written on 21 July 2015

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People are simply buying! Not everyone needs new cars, right?

Everytime I tell people that times are not bad (means people have jobs and money and could still spend), quite a number would tell me that the situation is dire. In fact some are saying that the Malaysian economy is about to collapse. I wonder where they got the idea from but anyway, we have a new government, so all should be fine and dandy now. 😛  Anyway just a few days ago, this article was published in TheStar. Take a look at the title yeah. “We are sorry, we have run out of cars.” Yes, within the article, it was mentioned that many of the car brands have already fully sold their July stock. In brief, the earliest one may be able to get a car may be August and beyond. WOW! What’s happening?

One key word would be opportunistic, maybe? The reduction of GST from 6 percent to zero PLUS the potential ‘threat’ that car prices may move upwards because of the upcoming SST which has been rumoured to be 10 percent. Of course including the fact that it’s RAYA holiday, so many have taken the opportunity to buy a new car so that they can drive a new car home to celebrate in style. Well, if you ask me, I still think the main reason is because the buyers could afford a new car in the first place. Let’s be realistic. If one is about to lose their jobs or is strapped for cash, regardless of the discount, they would not buy! This includes even those without sufficient savings because buying a car is a 7 year or a 9 year commitment!

So, since all of them have bought cars, would they now have no money left to buy properties? Haha. Hey, that’s a real possibility right? I mean buying a luxury car and parking the car in a parking space for a flat, that’s common, right? Here’s an earlier article:
Car vs property? Well, car ownership do mean something, luxury one please

I personally still think that if the particular household is strapped for cash or face the possibility of losing their job, they would not be in the right frame of mind to buy a RM80,000 car and paying over RM1,000 per month for it for the next 7 years….

In brief, a household which could still afford a new car certainly has the capability to also buy a property or even upgrade in the near future soon. OR… these households have already bought a property not too long ago and is now moving on to the next stage which is to get a new car too. My wife bought a new car after we bought our first apartment. She bought another new car a few years after we have moved to a new condo. What I want to say is this: No, I do not think property sales will drop simply because car sales went up. Happy driving your new car! (nope, I did not get a new car recently. Wife’s car is 9 years plus and mine is 4 years plus. My favourite? AUDI. )

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written on 30 June 2018

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Why did I fear property investment, then?

Seriously, why do people
fear property investment
? From my close friend who’s a top management in a US electronics multinational to friends who are senior managers and colleagues whom I know earn more than enough to buy at least one investment property, all of them have just one property; their home. I have no idea about their real reasons for not buying but I used to fear the following before I bought my 2nd property some time back.

Affordability.
Paying for one home is tough
. Paying for a second one can be nerve wrecking. When I was considering my second property, both my wife and I decided that it was too dangerous as we may not be able to save anything as soon as we started to pay for the second one. Even downpayment was barely enough. We took over 3 weeks to decide. Well, lesson learnt was that if it’s really not working out, there’s the option to let go one, which would still be a profit anyway.

Lots of negative ideas.
When prices are rising, bubble is coming
. When prices are not moving, crisis may be happening and everyone fear losing their job thus no one buys anything new. My colleagues kept asking, why need a second property? Rental market in Penang is so bad. Even my parents were hesitant to lend me their usual ‘go for it’ support. Their eldest son is going to do something which they have never done before. Would the second property land their eldest son in trouble?

Insufficient knowledge / info.

Come on, those were the days when information about the whole market were not as available as today. Now, type the project name, you get the history, the prices, the rental rates, the bad comments and the plus points. Back then, all these were many times fewer. Property gurus? There were also not that many then. Only a few have started. Names such as Milan Doshi and Azizi Ali were mentioned most of the time. Today, there are so many property gurus giving talks all over Malaysia and even overseas to pull people to buy Malaysian properties.

Fear of unknown. Yes, on an overall basis, whatever I feared previously was just because of the fear of many unknowns. Today, if I were to buy again, I have access to many more stuffs that would enable me to make a more informed decision. Oh yeah, if you STILL do not know what you are buying today, all the best to you. That’s not investing, it’s called ‘
gambling or hoping or even speculating.’

Find out more, read more, SAVE A LOT and buy that second property when you can. Not 100% of these 2nd property would be profitable but chances are this second property may just be the ticket to a more comfortable retirement in future. Happy thinking and deciding.

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<Featured Image is courtesy of
Stock Photos
 from William Potter >

written on 3 June 2015

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People power versus millions of compensation? Not an easy answer.

Remember the “fight” for a football field in Kuala Lumpur? Specifically in Bandar Tun Razak? In brief, the Kuala Lumpur City Hall (DBKL) sold a piece of land to a developer to build high-rise units; four blocks, two of which are for low-cost flats in 2017. The 40-storey building on the 2.09ha land will have 1,814 units and the population density will increase from 60 to 1,400 per 0.4ha. Due to this transaction, The Save Jalan Jujur Football Field committee then lodged a report with Malaysian Anti-Corruption Commission (MACC) in Jalan Cochrane against DBKL over the sale of the land reserved for a football field. The 2.09ha land in Jalan Jujur was a football field used for various recreational activities by residents. (This explains why the residents would be against it.) Its secretary Mohamad Saiful Mansur said the land was gazetted on Nov 24, 2005, as reserved land for public use and the status was changed on Dec 22 last year. He added that an application for the project was then submitted to DBKL on May 3 2017 and it was approved with condition on Oct 18 the same year. At the point of approval, the land was still reserved land and not handed over to DBKL. (Okay, I think this was one reason why the committee lodged a report with the MACC).

Image source: TheStar

This is what the KL mayor Tan Sri Mohd Amin Nordin Abd Aziz’s reply. “The disputed high-rise residential project would proceed as scheduled.”  The reason is because, “We cannot afford to pay them (developer).” He added that it was not feasible to stop the project as construction was at an advanced stage. Compensation would be in the millions. However, there’s a promise for a new football field. Amin Nordin said he would get the developer to bear the cost to build a new football field near Bandar Tun Razak. He said, “We have identified a piece of land not too far away, and we will explain the matter to the residents.” (I think it’s best to get the agreement from the developer first before the promise. Plus, the complain lodged with MACC and the promise of a new football field is a separate matter too. Perhaps we wait for MACC’s announcement after their investigation. If everything followed the procedure, then anew football field may be the only compromise possible) Do look at the image for the construction.
The article in TheStar for reference.

This has happened. We can only let it run its course. Moving forward, what should happen is that the ‘new’ DBKL must be professional and please quickly gazette the 2020 Kuala Lumpur Draft Plan. Once that is gazetted, then following it would mean a vibrant and yet green Kuala Lumpur; something that most KLites would like, including myself. If everything is still done haphazardly or following some instructions from the top (whoever these people may be) or even “it was due to previous agreements,” then we are going to go back to square one. One more thing that should also happen is that KLites should get to elect their favourite mayor. This would be awesome because then many really experienced candidates can also run for it. Of course, even former politicians can run for it because there are certainly good ones too. After moving to KL for the past 5 years, I think I have grown to not just accept but to look forward to its vibrancy to continue. Happy following.

Listen also to this awesome KL song of yesterday.

http://https://www.youtube.com/watch?v=PEl9T5PQUqg

written on 12 July 2018

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People’s Housing Projects (PPR) should be for rent and not for sale

Property built by the government for the people should continue to be for the people

People’s Housing Projects (PPR) is built to provide homes to Malaysians who could not afford their own home as yet. Thus, all these PPR homes must be for the benefit of poor Malaysians and not to enrich anyone who managed to get a unit and is then sub-letting the unit out to foreigners and gaining profits from it while many other needy Malaysians are having to wait for a unit for years.

Article in nst.com.my
  The National House Buyers Association (HBA) honorary secretary-general Datuk Chang Kim Loong said, the PPR units erected are simply temporary living quarters for those looking to buy their own homes in the future.

“They should only be rented out by the relevant agencies,” he said.

He added, “The PPR residents should not regard the flats as their permanent homes but merely temporary abodes to shelter their families and have roofs over their heads while they endeavour to look for permanent homes.”

He said those who flout the rules by subletting their units for obvious gains should be evicted and enforcement should be meted without delay.

“They act like landlords and sublet rooms to foreigners and singles who migrate from villages to cities. These have been going on for years but it seems enforcement action is slow, even sometimes thwarted by interference.

“It is a betrayal of the purpose of building such PPR housing in the first place, which is to provide a roof for the poor and should not be used by rent-seekers for self-profiteering,” he said. Do read the full article here:
Article in nst.com.my

We need stricter control yeah. (This one is worth learning from the neighbour down south)

Enforcement of policies, of the things we said ‘should be done this way’ has always been lacking. If the PPR homes are for Malaysians, then anyone staying in those units other than Malaysians should already be a big warning sign that something is not right. PPR units are for Malaysians who need transit homes, remember? There should not be foreigners staying within these PPR developments yeah. Period.

Choosing and ensuring the right tenant is given the opportunity is another thing we MUST LEARN from whichever country which is doing it well. It’s really not that hard to check the income details of the applicants yeah. Not just the husband or the wife who’s not working yeah. The whole household income so that only the ones most in need are given priority. Come on, housing is a basic right and the authorities must do their job.

Please do build more and help more Malaysians. Only Malaysians if we are talking about PPR. The title says it all. It’s for the People…

This is the official website for KPKT yeah.
https://teduh.kpkt.gov.my/scheme/ppr_dimiliki

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Perdana Botanical Garden. Weekend for family. Picnic is possible. 2 hours of enjoyment.

Perdana Botanical Garden. Weekend for family. Picnic is possible. Safety first. Follow SOPs.

Park here lah, do not get a summon

Ahem… I had parked along the road, got down and my wife said, ‘the car behind us has a summon ticket.’ Oops. So, I drove to this car park which was just 50 metres away from the entrance of the Perdana Botanical Garden. So, guys, maybe this is a better choice because a summon will be many times higher.

Best time for picnic?

It’s Malaysia yeah. Temperatures are usually 32 celcius or higher. A shady tree helps tremendously. So, the earlier the better. Try to be here by 9am, your picnic can then include breakfast too. Today, I arrived only after breakfast. So my picnic was all about junk food. Haha. Including chips, ice-cream and even nangka too.

Lots of different spots under the shady and big trees too

Yes, there are more than enough space for sufficient social distancing here at Perdana Botanical Garden. No families were seated within less than 12 feet from one another today. Just need to bring your mat and enjoy sitting under shade and doing nothing but eating junk food. Kids can run about lah, enough space to do so safely too.

Good environment and clean too

Nice waterfall (obviously it’s man made) for photos lah. No, no, this is ONLY for photos, you are not supposed to take a dip there yeah.

Bring along snacks and yes, there’s an ice-cream man just outside the entrance too.

My kids kept reminding me about ice-cream, so yes, there’s ice-cream for them. Just need to be reminded that ice-cream and Malaysian weather are not best friends. Haha. So, after you buy, walk faster back to your picnic site yeah. Else, bring along some iced-drinks like me and you will still enjoy your picnic here at Perdana Botanical Garden too.

Yes, it’s safe enough to have a picnic and this is safer than dine-in because of the availability of space

I know, the number of cases are still around 20,000. Just need to remember that it’s not about the number of cases alone because there are NO countries in this world where the vaccinations could stop new cases. None. However, vaccinations has continued to ensure the number of cases needing hospitalisation and subsequently Intensive Care Unit (ICU). Thus, always remain vigilant and take all necessary precautionary steps yeah. Mask is a must.

Happy deciding and by the way picnic at home is perfectly fine too.

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Perfect property with the lowest price (updated)

The following was a real conversation between an old friend of mine many years ago when I had just moved into my new condo and my friend who was interested called me one day. Note: This happened 7 years ago. The
quantum of increase no longer happens
 like this but I can safely tell you that even if property prices increases at its usual rate, it may be better to act faster and not slower.

My friend: ‘Hey, I just went to your project today and viewed the 1st floor of Block C.’

Charles: Great, are you buying?

My friend: I am still thinking. It’s on top of the TNB room and it’s RM290K.

Charles: If it is unsafe, I don’t think the developer would build a unit there. Can u hear anything below the unit?

My friend: I can’t hear anythingbut I want to consider first. I love your project. So spacious and you have a jungle track within your project, I think this is the only one in Penang.

Charles: If everything is right, I suggest you buy quick because the prices would continue to move upwards especially RM290K is not considered that high.

My friend: Can’t be lar. There are so many units at RM290K.

In the end, my friend lost the unit because one week after that the unit was taken and I asked him what about all the other units he was looking at. He replied sheepishly that none of the units were below RM350K. Sorry to say but in property purchase, if the property meets all your requirement, BUY. There’s no such thing as the
 totally perfect property
 which meets every single of your requirement. If there are, chances are it’s not yours to buy. The owner would have increased the price or someone would have bought it earlier.

Last year, I decided to sell my condo, the one my old friend wanted. I informed him in advance that I was selling and if he is serious, we can
always talk about the pricing
. As he is a friend, I would give him a slightly lower price. He said he wanted to think about it and never got back to me. I sold it and just months ago, he called me and asked me if I still have the unit available. I reminded him that I told him much earlier. He said my price of RM645k was high. Then, he told me that today, the price is now RM700k.

My friend missed it because for every condo and for every price, it is always
dictated by demand and supply.
 If a lot of the condo owners want to sell, the prices come down. Most of the time within the first 6 months of completion. If however, few units are being chased by many buyers, then the prices would go up. For secondary properties prices are pretty transparent. Even agents would be able to tell you a small range.  When you intend to buy one, be serious about it. Perfect property with the lowest price may be around the corner if you redefine what is ‘lowest’ price. cheers.

rewritten on 26 Apr 2015

Suggested article:
Penang Property Market? Expert Series with Michael Geh.

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Waiting for the PERFECT property to buy. 4 reasons here.

Just like many Malaysians, there was a time when I was waiting for the perfect property to buy. In 2003, after deciding that I needed to buy my first property, it took me 6 months to actually sign the Sale and Purchase agreement. The second property (Penang condo) took 3 months. The third property (KL condo) took 1 month. The 4th property (KK condo) took just 24 hours. Was I rushing then? Since my first till my 4th property showed a reduction in duration to buy? Perhaps it’s because the first one took me 6 months…

By the way, that 1st, 2nd and 3rd properties have all been sold…over the years. On average basis, the selling price was 2.38x the purchase price.  So, now you understand why I blog about property investment?  🙂  As for that yet-to-be-sold 4th property, it has a double digit rental yield even today…  Somehow doctors love the unit. Here are the learnings for everyone to also gain from my own property buying decision.

Photo by Anna Shvets on
Pexels.com

#1 – Waiting for the
Perfect Property Price?
 It’s usually found 20 years after it was sold. Below RM300,000 for a landed property within a mature neighbourhood with a good location and full of amenities TODAY? Well, 20 years ago, I am very sure anyone being asked to pay RM300,000 would be laughed at. TODAY, that person who bought it for a low six figure could now sell it for 7 figures. We NEED to be able to understand that there’s that thing called ‘Future’ as well.

#2 – Waiting for the
Perfect Property Location
? This is also usually found many years later. Sometimes, 10 years or more. Think Damansara Uptown? There were NO rows and rows of fully-occupied shoplots when it first started.  There were no such thing as banks, cafes or anything you think you needed when the location first started.  Further away, one could think about Puchong perhaps? It was all about mining lands long time ago yeah. We NEED to be able to also start understanding about the development’s phases and act accordingly. We can buy at the end, of course, but be prepared to pay the highest yeah.

#3 –
 Waiting for the Perfect Size within Perfect Location and Perfect Price?
Haha. This is like winning a lottery yeah. These days, we want bigger units BUT today, if developers were to build bigger units in some of these awesome locations, there’s no way they could price it anywhere near a price which most of us could afford. Thus, they took an obvious way out. Build it smaller so that even at a high price per sq ft, at least the final price looks achievable to many who just want to stay in that location. Or they built it further away… It can be a perfect property to buy, whether smaller or bigger.

#4 –
Waiting but not preparing.
I have too many friends who continue to ask me where to buy but at the same time has taken no action whatsoever where savings are concerned. We need to save money while we are waiting yeah. There’s no such thing as I found the property and then only I start saving money. Well, for many of my friends who continue to say they will buy soon… They needed to spend those money on something else, somehow. Thus, that savings never happened and of course the prices kept getting ever more expensive…

Conclusion

These are the 4 reasons why it’s super tough to wait for the perfect property to buy. Super tough is not impossible but it becomes impossible when we do not follow up our thoughts / waiting with the earning and investing action. Home prices wait for no men. Perfect property to buy meanwhile depends on action. Do not just look at Malaysia. Look at Singapore, Australia, London and more.

Drawing a trend line over 20 years for example and we will see property prices rising. It’s only a question of whether it’s above the inflation rate or below the inflation rate. Oh yeah, occasionally a crisis comes to open up a window of opportunity. During the crisis time though, I am just worried that many people during those times are scared to buy. Then, they may say that they could not buy because banks refuse to lend. I rest my case. Happy waiting.

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Buying the “perfect” property today, for you.

What’s a perfect property? This was a question from a close friend a couple of years ago. I have forgotten my answer to her but I think it was something along the lines of “I am still working, so $$ is definitely an issue. As long as the
distance is within an hours drive
 and my family gets lots of space and amenities, that’s my perfect property.” Well, there are definitely other reasons too but those are secondary when compared to how I would want my wife and the kids to enjoy their day. My wife is a housewife and my kids are super-duper active. Haha. Anyway, what’s your perfect property? A penthouse, overlooking the twin towers and a dip in the infinity swimming pool followed by a gym room which faces the KL city centre view and the gym room is a space which is extended externally from the building making it looking as if it is hanging in the mid-air? Hey, that’s also my something that I love too, seriously.

However, seriously, what is your perfect property today? If you are just starting in your corporate career climb, the perfect property for you might just be renting a room as nearby as possible to your office and within
walking distance to a public transport
 so that you need to spend just RM2 x 2 (to and fro) x 22 days = RM88 per month. Plus your rental of the room at say RM500 and that’s RM600 of your RM2,200 salary (Nett after deductions). As long as you do not go crazy with your food, Starbucks and even smartphone, you should still be able to save RM800 or more per month. That’s RM10,000 per year which will give you RM50,000 after 5 years. One of my Facebook friend revealed many months back that she could save even more! Here’s a good resource on savings:
ringgitohringgit.com

If you are a couple (both starting in your corporate career climb) thinking of getting married today and needs to make sure you have enough space for a baby in the near future, your perfect property might just be to look at
space versus cost vs duration.
Anything below 800 sq ft is not suitable. (This is only my personal choice yea. I am sure everyone have their own preferences) Anything above RM500,000 will sap away too much of your money in the form of mortgage repayments leaving you stressful when your baby arrives. Duration is something manageable if you change your lifestyle or if you decided to just enjoy the public transport instead. We can even work if we start from a main station like the Sungai Buloh MRT station. (lots of seats…)  Read some reviews here :
propsocial.my
but more importantly, drop by and feel it yourself.

Our perfect property might even be

just to stay with our parents,

for as long as we could while building our $$ chest and buying a place close to them. Actually, even after buying the new place, you can still stay with your parents. Just rent that place out until the day you need it back when you are starting a family. My wife stayed with her parents when she started working and even after giving some monthly allowances to her parents, she could save more than me! (Despite my salary being higher)  Oh yeah, staying together under the same roof may sometimes not be the best idea. Haha. Your wife may not be the best friend to your mother. That’s why YOU must make the necessary arrangements and make sure both are happy at the same time.

Hope everyone gets the idea. A perfect property is always dependent on the circumstances that we are in. We may not have the luxury of resources to do everything all at once. This is why careful consideration is needed. Some research would help us too. Keep upgrading that perfect property if needed. By the way, I still have friends who are already senior managers staying in medium-cost apartments. The comfort of a home sweet home does not depend on the price of the property. Happy finding that perfect property today.

written on 23 Oct 2017

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Perfect Property for me is not waiting until it comes along

Perfect Property for me is not waiting until it comes alon

When opportunity knocks?

They say when opportunity knocks, we must take it up. Maybe true for many things. Not for finding the perfect partner, that needs effort. Not true for property investmnet too. For property investment, opportunity does not usually knock yeah. It’s usually we go and find it ourselves. This is based on my own property investment journey since 2004 when I purchased my second property. My first property was in 2002 when I was 25 years old. Haha. Now you know my age in 2022.

First-time property buyer?

If we are buying property for the very first time, that’s not yet considered a property investment. My personal definition of property investment is that your second property will be the start of your property investment journey. That first property? That’s really more of hedging against inflation and make sure you definitely will be ahead of inflation which will continue to affect us every year.

How everything to started?

Just like many Malaysians, I am always waiting for the perfect property to buy. In fact, my perfect property also kept changing! In 2002, after deciding that I needed to buy my first property, it took me 6 months to actually sign the Sale and Purchase agreement. It was a perfect property because the living room was big. (relative okay, at the time, it was big for me) Rooms were small though but my focus was living room and a separate wet and dry kitcheng. This first property was just 730 sq ft. Yet, it was my perfect property at that point in time, with my salary at that time and with my view about what’s a good property at that time.

Then, I found a ‘better’ perfect property.

My second property (Penang condo) took 3 months to come to a decision. I was worried that I would go bankrupt eventhough the property price was only RM247,000. that’s in 2004 yeah. So, RM247,000 can buy you a very good condo in Penang of 1,258 sq ft and it comes with its own small forest hiking trail! Erm… I only went twice throughout my 6 years stay there.

Somehow, I felt that there must be another perfect property elsewhere, not for own stay but for investment. My third property (KL condo) took 1 month to decide. I was there on a holiday, saw the unit and viewed almost immediately. Then some negotiations and 1 month later, I was signing the papers. This same condo would one day become my first home in the Klang Valley when I moved to KL in 2014.

Then, I found another ‘perfect’ property

I should stop in KL, right? So, my 4th property (Kota Kinabalu apartment) was next and it took just 24 hours. I got to know a special discount on the last day. So, I tt the downpayment and the brochure of the project arrived a few days later. Oops. Erm… okay, what is a perfect property then? If it’s perfect, there should just be one, right? Anyway, here are some learnings after buying the properties I kept thinking was a perfect fit for me at that point in time, at that particular place and etc.

The property investment journey has continued since then and I bought properties even during the MCO periods of 2020 and 2021. Here are 4 key learnings.

#1 – Waiting for the
Perfect Property Price?

Honestly, it’s usually found 20 years after it was sold. I repeat. It’s usually FOUND 20 years after it was sold. Haha. Below RM300,000 for a landed property within a mature neighbourhood with a good location and full of amenities TODAY? Well, 20 years ago, I am very sure anyone being asked to pay RM300,000 for that same property would have to think until the cow comes home before they could decide to buy.

TODAY, that person who bought it for a low six figure could now sell it for 7 figures. We NEED to be able to understand that there’s that thing called ‘Future’ as well. Just do not buy the wrong property yeah. Not all properties appreciate even if most usually do because of effects of inflation.

#2 – Waiting for the
Perfect Property Location
?

This is also usually found many years later. Sometimes, 10 years or more. Think of any mature neighbourhoods? There were NO rows and rows of fully-occupied shoplots when it first started. There were no such thing as banks, cafes or anything you think you needed when the location first started.

Further away, one could think about those ex-mining lands perhaps? At the time, everyone kept saying these are mining lands… We NEED to be able to also start understanding about the development’s phases and act accordingly. We can buy at the end, of course, but be prepared to pay the highest yeah.

#3 –
 Waiting for the Perfect Size within Perfect Location and Perfect Price?

Haha. This is like winning a lottery yeah. These days, we want bigger units BUT today, if developers were to build bigger units in some of these awesome locations, there’s no way they could price it anywhere near a price which most of us could afford.

Thus, they took an obvious way out. Build it smaller so that even at a high price per sq ft, at least the final price looks achievable to many who just want to stay in that location. Or they built it further away… It can be a perfect property to buy, whether smaller or bigger.

#4 –
Waiting but not preparing.

I have too many friends who continue to ask me where to buy but at the same time has taken no action whatsoever where savings are concerned. We need to save money while we are waiting yeah. There’s no such thing as I found the property and then only I start saving money.

Well, for many of my friends who continue to say they will buy soon… They needed to spend those money on something else, somehow. Thus, that savings never happened and of course the prices kept getting ever more expensive… Then, somehow the blame is that prices became expensive and not because they did not buy or prepare.

Conclusion

These are the 4 reasons why it’s super tough to wait for the perfect property to buy. Super tough is not impossible but it becomes impossible when we do not follow up our thoughts / waiting with the earning and investing action. Home prices wait for no men. Perfect property to buy meanwhile depends on action.

Drawing a trend line over 20 years for example and we will see property prices rising. It’s only a question of whether it’s above the inflation rate or below the inflation rate. Oh yeah, occasionally a crisis comes to open up a window of opportunity.

During the crisis time though, I am just worried that many people during those times are scared to buy. Then, they may say that they could not buy because banks refuse to lend. I rest my case. Happy waiting.

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Header Image by
Barry D
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Perfect Property with lowest price

My friend: ‘Hey, I just went to your project today and viewed the 1st floor of Block C.’

Chia Lih: Great, are you buying?

My friend: I am still thinking. It’s on top of the TNB room and it’s RM290K.

Chia Lih: If it is unsafe, I don’t think the developer would build a unit there. Can u hear anything below the unit?

My friend: I can’t but I want to consider first. I love your project. So spacious and you have a jungle track within your project, I think this is the only one in Penang.

Chia Lih: If everything is right, I suggest you buy quick because the prices would continue to move upwards especially RM290K is considered not that high.

My friend: Can’t be lar. There are so many units at RM290K.

In the end, my friend lost the unit because one week after that the unit was taken and I asked him what about all the other units he was looking at. He replied sheepishly that none of the units are now below RM350K now. Sorry to say but in property purchase, if the property meets all your requirement, BUY. There’s no such thing as the totally perfect property which meets every single of your requirement. If there are, chances are it’s not yours to buy. The owner would have increased the price or someone would have bought it earlier.

The project was Regency Heights. The prices for Block C & D started at RM209K. My friend missed it because every price is always demand and supply. If a lot of the condo owners want to sell, the prices come down. If however, few units are being chased by many buyers, then the prices would go up. Prices are now very transparent. Just look at
http://www.propertyguru.com.my
 for northern property listings.

This is the same in share market. If you have set a price bracket, as soon as the share hits the price, BUY. If you are greedy and say, perhaps the price may drop further, that’s no longer investment, it’s called gamble. You may WIN but you may lose it all as you may missed the chance to buy when it was nearly the lowest possible.

Suggested article:
Penang Property Potential

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I am always waiting for the perfect property. What about you?

This is the story of how I got started with my ‘perfect’ property

Just like many Malaysians, I am always waiting for the perfect property to buy. In fact, my perfect property also kept changing!

In 2003, after deciding that I needed to buy my first property, it took me 6 months to actually sign the Sale and Purchase agreement. It was a perfect property because the living room was big. Rooms were small though but my focus was living room and a separate wet and dry kitcheng.

Then, I found a ‘better’ perfect property. My second property (Penang condo) took 3 months to come to a decision. I was worried that I would go bankrupt eventhough the property price was RM247,000.

I felt that there must be another perfect property elsewhere. My third property (KL condo) took 1 month to decide. Went there on a holiday, saw the unit and viewed. Then some negotiations and 1 month later, I was signing the papers.

I cannot stop in KL, right? So, my 4th property (KK condo) was next and it took just 24 hours. I got to know a special discount on the last day. So, I tt the downpayment and the brochure of the project arrived a few days later. Oops.

Erm… okay, what is a perfect property then? If it’s perfect, there should just be one, right? Anyway, here are some learnings after buying the properties I kept thinking was a perfect fit for me.

#1 – Waiting for the
Perfect Property Price?

It’s usually found 20 years after it was sold. Below RM300,000 for a landed property within a mature neighbourhood with a good location and full of amenities TODAY? Well, 20 years ago, I am very sure anyone being asked to pay RM300,000 would be laughed at.

TODAY, that person who bought it for a low six figure could now sell it for 7 figures. We NEED to be able to understand that there’s that thing called ‘Future’ as well. Just do not buy the wrong property yeah. Not all properties appreciate even if most usually do because of effects of inflation.

#2 – Waiting for the
Perfect Property Location
?

This is also usually found many years later. Sometimes, 10 years or more. Think Damansara Uptown? There were NO rows and rows of fully-occupied shoplots when it first started. There were no such thing as banks, cafes or anything you think you needed when the location first started.

Further away, one could think about Puchong perhaps? It was all about mining lands long time ago yeah. We NEED to be able to also start understanding about the development’s phases and act accordingly. We can buy at the end, of course, but be prepared to pay the highest yeah.

#3 –
 Waiting for the Perfect Size within Perfect Location and Perfect Price?

Haha. This is like winning a lottery yeah. These days, we want bigger units BUT today, if developers were to build bigger units in some of these awesome locations, there’s no way they could price it anywhere near a price which most of us could afford.

Thus, they took an obvious way out. Build it smaller so that even at a high price per sq ft, at least the final price looks achievable to many who just want to stay in that location. Or they built it further away… It can be a perfect property to buy, whether smaller or bigger.

#4 –
Waiting but not preparing.

I have too many friends who continue to ask me where to buy but at the same time has taken no action whatsoever where savings are concerned. We need to save money while we are waiting yeah. There’s no such thing as I found the property and then only I start saving money.

Well, for many of my friends who continue to say they will buy soon… They needed to spend those money on something else, somehow. Thus, that savings never happened and of course the prices kept getting ever more expensive… Then, somehow the blame is that prices became expensive and not because they did not buy or prepare.

Conclusion

These are the 4 reasons why it’s super tough to wait for the perfect property to buy. Super tough is not impossible but it becomes impossible when we do not follow up our thoughts / waiting with the earning and investing action. Home prices wait for no men. Perfect property to buy meanwhile depends on action.

Drawing a trend line over 20 years for example and we will see property prices rising. It’s only a question of whether it’s above the inflation rate or below the inflation rate. Oh yeah, occasionally a crisis comes to open up a window of opportunity.

During the crisis time though, I am just worried that many people during those times are scared to buy. Then, they may say that they could not buy because banks refuse to lend. I rest my case. Happy waiting.

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Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) assistance package

A very concise and good reference from
GrantThornton
 for the just announced assistance package for MCO 2.0; PERMAI. I think most readers may want to refer to what’s available to them as an individual. Please refer below:

1. PERSONAL TAX RELIEF FOR COVID-19 SCREENING EXPENSES

Currently, a resident individual is given a tax relief of up to RM8,000 for :

i. medical expenses for treatment of serious diseases for self, spouse or child;

ii. fertility treatment for self and spouse;

iii. full medical check-up expenses for self, spouse or child (maximum of RM1,000); or

iv. specific vaccination (including Covid-19) expenses for self, spouse or child (maximum of

RM1,000).

To further support individuals to conduct Covid-19 screening and detection tests privately, it is proposed that expenses for Covid-19 screening be included as part of the full medical check-up expenses and be eligible for tax relief.

Effective date : From year of assessment 2021

2. EXTENSION OF SPECIAL PERSONAL TAX RELIEF OF UP TO RM2,500 TO INDIVIDUALS

FOR THE PURCHASE SMARTPHONE, PERSONAL COMPUTER OR TABLET

Previously, a special tax relief of up to RM2,500 was given to resident individuals who purchased smartphone, personal computer and tablet for work-from-home arrangement.

To be eligible for this tax relief, the purchases must be made from 1 June 2020 to 31 December 2020.

Acknowledging the reliance of individuals on the use of digital equipment, it is proposed that the special tax relief of RM2,500 be extended to individuals who purchase these equipment in the year 2021.

Effective date : 1 January 2021 to 31 December 2021

The below image shows a summary of Extension of Time and Expansion of Scope for Individual Tax, Corporate Tax, indirect tax and Others.

For a full version of PERMAI,
Do download the full guide from GrantThornton here

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Personal Finance 101: Are you able to save RM1,500 per month?

Do we need our salary every month?

I think majority would answer YES. In fact, most of the time, during the beginning of the month when we have just gotten the pay, we feel super rich and the way we spend money differs from the end of the month when funds are running low or even nearly fully depleted. Read here for understanding why I say so:
Personal Finance 101: 5 things that could happen when we have extra money
 In fact, spending habit is one major reason for insufficient money every month NO MATTER how much we actually earn every month. Financially though, Malaysians are not in a good shape. Read more.

Article in nst.com.my
   Data from the RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2022 revealed the following:

“A total of 70 per cent of respondents indicated that they save less than RM500 per month or do not manage to save at all.”

“This is the worst ever result tracked by RMFLS in five years,”

The number of Malaysians who save more than RM1,500 per month has also dropped significantly, it noted. “From 20 per cent in 2020, the figure has dropped four times lower to just 5 per cent in 2022.”

53 per cent of respondents stating that they can survive for three months or less with only their savings (52 per cent last year).

“A similar pattern is also seen where 55 per cent of Malaysians spent exactly or more than what they earned each month (44 per cent last year), essentially living paycheck-to-paycheck.”

“More credit cardholders are not paying off their bills in full with just 55 per cent (doing so) in 2022 compared to 70 per cent last year.”
Article in nst.com.my

Could we save between RM500 per month?

If we could save RM500 per month, we are within the top 30% of Malaysians in terms of savings per month. Never mind how much we earn, if we could not save, it does not matter. Question is this, are we in the top 30% who could save RM500 per month for RM6,000 per year? If we could save the same for 10 years, we have RM60,000!  Or are we within the 70% who could not save RM500 per month and thus may have very little savings even after working for 10 years?

Top 5% of savers per month in Malaysia?

It’s not easy to believe but if we believe the survey done by RinggitPlus, then if we are able to save RM1,500 per month, then we are within the top 5% of Malaysian savers per month. Yes, top 5% yeah. Ahead of 95% of all other Malaysians no matter how much they earn. If we could save RM1,500 consistently per month, that’s RM18,000 per year. Just 10 years down the road, it would have been RM180,000.

For someone who works 30 years before retiring, just the savings alone would be RM180,000 x 3 decades = RM540,000. We did not yet include the EPF, we did not include the returns from the investments, for example from the fixed deposit etc. We can see that if we could just save RM1,500 per month, our life would not be too bad when we retire yeah.

How many months could we survive without any salary?

This is a key question yeah. However the answer varies tremendously. The reason is because our expenditure is usually determined by our wants versus needs. We could eat at the local kopitiam and pay RM10 inclusive of drinks or we could have a lunch set at a cafe with a latte and pay RM25. The difference in one meal per day is RM15. If we repeat this for three meals, then it’s RM45. RM45 x 30 days = RM1,350. Every ten years, we are spending an extra RM13,500 just for these 3 meals yeah.

Well, 30 years later when we retire, we should realise that we could have an extra RM40,500 if we did not overspend on meals. RM40,500 extra means we could have invested the money for more returns. Or at the very least, we could use that amount to travel. We could even bring our family along too. Imagine if we did not spend all these extra money, how many extra months could we survive when we suddenly do not have any salary? Think hard, take the right actions too.

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Personal Finance 101: Anyone could lose their job. Everyone needs to be ready, especially financially.

Meta’s 10,000 job cuts

I just read about Meta announcing a fresh wave of job cuts and the numbers being announced would be 10,000 over the next few months. I quickly checked and according to
statista (click here for source)
 Meta has over 86,000 employees as at December 2022. When we use this as calculation, it meant that around 11-12 pct of the current employees would cease to be employees of Meta in a few months time.

Article in nst.com.my
   Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company’s “year of efficiency” as the US tech sector continues to downsize.

In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the next few months, targeting middle management, and that 5,000 other roles would remain unfilled. The cuts follow a cull of 11,000 jobs announced by the company in November.

“This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success,” Zuckerberg said.

The first victims will be Meta’s recruitment department as the company officially puts an end to the hiring spree that came when big tech ramped up operations to meet high demand during the coronavirus pandemic.
Article in nst.com.my

Anyone could lose their job

With the speed of change, things do change overnight. A shop which has been around for decades may lose out to a bigger competitor opening on the same block offering everything at a cheaper price. A legacy airline which has been around for many decades could suddenly face super huge competition from smaller and more nimble competitors. A hotel would face competition from AirBnB. Taxis could face competition from GRAB / UBER and more. All these changes do not happen over 10 years. They happen fairly quickly and that is why people lose jobs when the company they work with face unforseen circumstances.

Financially, be ready

One would need some time to get a new job if they have just lost their job. Yet, bills have to be paid on time. This is why it’s important to have savings to last for 6 months for these. This is also why that savings here and there over the months would come in handy. This is also why sometimes, it is good to also have another skill which could be put to good use too. I have heard so many success stories of pilots becoming chefs, of engineers becoming entrpreneurs and the story goes on. When the goings get tought, the tough gets going. As long as he tough ones have some financial support.

I wish everyone in Meta the best. Hopefully the current economic growth would enable most if not all to find another job quickly.

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Personal Finance 101: Are you earning above market salary and benefits?

Many friends are stuck in a role they do not like

I have many friends who share with me that their bosses are out of their mind. Some would also tell me that their bosses refused to pay them a competitive salary and even the bonus is low every year for the past many years. There are also friends who told me that they have to work for over 10 hours every day and they are so tired. There’s also a group of friends who told me that they are looking for another job and found another but the pay was not up to their expectation. Do you also have such friends?

Meanwhile there are many employers who are also pushing for a competitive employee benefits as they need to hire the best talents in the market.

Article in nst.com.my
  More than four in five employers in Malaysia see competition for talent as the number one business issue influencing their strategy for employee benefits in 2023. Despite rising costs, an increasing number of employers are targeting an ‘above market’ benefits position to attract top talent.That is according to the 2023 Benefits Trends Survey by WTW, a leading global advisory, broking and solutions company.

The survey was conducted between March and April this year with responses from a total of 5,233 employers across 95 markets globally, representing 22.9 million employees.

Director of health and benefits of Malaysia Rosalind Yu said the current state of Malaysian economy is pushing employers to balance between winning the competition for talent and rising cost of services while the budget remained tight.

Moving forward, Malaysian employers acknowledged the importance of achieving ‘above market’ positions for their benefits portfolio in the next two years.
Article in nst.com.my

Do not complain, just look for a better role with better pay

At the same time that I have friends who continue to complain, I also have many friends who continue to rise up the career ladders quickly. I also have friends who resign when they did not like the boss and found a better role which suits them more. I also have friends who resigned to take a break when they could not stand the hectic working days. After they have rested, they were able to find another better role. Why does this happen? Actually, it’s just whether we are considered a talent by many other employers or the only one who think of ourselves as talent is just us.

Do not complain, just look for a better role with better pay. If we are not able to do it, perhaps it’s time we learn more, change our ways or even to start accepting that perhaps even at this current role we are overpaid… Happy thinking and deciding.

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Personal Finance 101: Buying a new TV? Is Google TV and Android TV the same?

I needed a new TV for my new living room

This coming Saturday (15th July 2023), I will be getting the keys to my first landed property home.I say home because this is for my own stay and not as an investment. I bought my first own stay property in 2003 and it is now 2023. That’s 20 years and this is also my 5th home. So, on average I move every 4 years. 🙂  I will need a new tv for my new home, so I was out searching for it and I found this friendly sales person in
Aeon Big Kepong
. He explained to me in very a very thorough manner. Do go to the TV section and I think he will be there to explain to you as well.

Two main choices; Android TV and Google TV

Briefly, smart TV is definitely the choice these days. However, there are two main choices. They are the Android TV (which I also own one today) and also the Google TV which I have learnt that moving forward most TVs shoule slowly turn into Google TVs. Google is really powerful yeah. Now they will also conquer the TV scene as well. Moving on, I will let
Article in tomsguide.com
 provide to you a more professionally written review. Plus they are the experts, not me. So better read from the experts. To read their full comprehensive review article, just click on the link.
Article in tomsguide.com
  Else, a concise one as curated by me is as below:

Article in tomsguide.com
  Google TV is first seen as a successor to Android TV.  It’s a slicker, more intuitive, more capable operating system for your smart TV, bringing more capability to TVs and seating smart TVs more firmly at the center of the Google ecosystem.

What is Google TV?
  Google TV’s underlying software is still Android. This also means that a lot of the core functionality you enjoyed with Android TV is still available on Google TV products. The broad selection of apps available through the Google Play Store is still offered for Google TV sets.

Google TV vs. Android TV: The biggest changes

What has changed? Google has refined the Android TV experience with a greater emphasis on personalized content, tailored recommendations, and functionality that extends beyond the TV and living room, letting you use the smart TV as a hub for your entire house full of connected devices.

The biggest change is the interface, starting with the home screen. Instead of an experience focused on apps — such as Android TV’s older interface which use row upon row of apps and content suggestions — the new Google TV interface puts content first.A large image on the home screen showcases highlighted recommendations, cycling through movies and shows with big, beautiful proportional photos. These recommendations are drawn from your own preferences, pulled from the streaming services you use, the shows you watch, and some predictive magic from Google.

Mobile remote

Taking advantage of Google’s large ecosystem of devices and connected apps, you can use an Android phone as a remote control for your Google TV.The addition of a touchscreen and onscreen keyboards as part of the remote also make navigating the TV a lot easier. Entering passwords becomes smoother than having to navigate a “keyboard” on the TV screen.

Google Accounts

All of the above features include personalization, whether that’s through recommendations, listings of subscribed services, or simply letting you use a personal device to control the TV. Google takes this a step further by introducing individual user profiles on Google TV. This lets family members get recommendations tailored to them, built around their own viewing habits and interests.

See a show mentioned on Twitter? Add it to your watchlist right there on your phone. Did you just remember the name of that movie you’d forgotten while you make the bed? Use your Google Home smart speaker to queue it up for you later.

Parental controls and kid profiles
In addition to using user profiles for  personalized content suggestions, you can also set up profiles for kids, complete with content filters and parental controls.

Moms and Dads can block individual apps and specific titles, all from their phone – no wrestling the remote away from a misbehaving child before you can change things. It even lets you limit viewing to specific amounts of time, and shuts everything off at designated bedtimes.
Article in tomsguide.com

So, which one to buy? Android TV or Google TV?

I do not watch TV that often. My kids do. They watch mostly YouTube at the moment. My wife and I would determine what they watch but we could not monitor it all the time. So, many of the things which Google TV could do and Android TV may not is not really something I need currently. By the way, as Google TV is supposedly the future, it also meant that Android TVs are now available for a very big discount too. A similar sized ones between both could easily be RM500 difference! (Yeah, that’s roughly 33 lattes in some cafes)

However, my decision will be to buy a Google TV (hopefully 65 inch or higher and current choice I have in mind is Hisense) for my living room. I will move the current Android TV (50 inch
Philips, which I bought during the MCO time
) to put at the smaller living room in the new home and I do think I will buy another Android TV for my master-room. Probably can watch some China dramas too. There are many good ones for your info. Happy buying a new TV too.

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Personal Finance 101: Cost of living includes electricity too!

We will not die if we do not switch on the air-con the whole night

I usually sleep with my 8-year old son who says he will sleep on his own when we move to our new home maybe towards end of this year. One day he may not want me to be so close to him but since he needs me now, I better be close to him. Haha. He would love for the air-conditioner to be blowing the whole night. I usually switch it off after 2 hours. He could still sleep and I could also still sleep. I think I could afford the additional 6 hours but then again, ‘we will not die if we do not switch on the air-con the whole night.’

Electricity cost will continue to increase because people are consuming more

When electricity consumption goes up, the cost of producing it will also go up. The reason is because the demand will cause the company producing it having to procure more inputs / materials and when demand increases throughout the world, the prices of these inputs / materials go up. By the way, whether building a nuclear plant or buy more fuel or coal or even building more sun-harvesting solar panels, all these are costs. This is why if we could, there’s no harm to reduce the electricity usage. By the way, it’s not just for us. It’s for the less fortunate ones who just could not afford the price increase.

This is one such story. Heart-warming and yet worrying too.

Article in nst.com.my
  On a blustery late-winter day in Shakespeare’s birthplace, the foyer of the Other Place theatre is a cozy refuge. Visitors are having meetings over coffee, checking emails, writing poetry and learning to sew.

It’s like an arty café in the pictureque streets of Stratford-upon-Avon, but it’s a “warm hub” set up by the Royal Shakespeare Company drama troupe to welcome people struggling to heat their homes because of sky-high energy prices.

Warm hubs have sprouted across Britain by the thousands this winter as soaring food and energy prices drive millions to turn down the thermostat or skimp on hot meals.

Research by the opposition Labour Party counted almost 13,000 such hubs, funded by a mix of charities, community groups and the government and nestled in libraries, churches, community centres and even a tearoom at King Charles III’s Highgrove country estate. Do read here for the full article:
Article in nst.com.my

RM70 a month is many hundreds every year

The typical average consumption of electricity for Malaysian household is higher than the below data which was until 2016 by
statista.com (This site has a lot of data, go search it out)

Average number may not reflect the situation but at least we have some numbers. One recent data pointed out that majority of households spends less than RM70 per month. Source here:
Article in paultan.org

This means that if we assume just RM70 per month, every year, a typical household would spend RM840. Okay, truth is, many households are many times higher than this average number. Now imagine if the price goes up by 10 percent? Or even just at the rate of inflation every year? Ok, my electricity bill per month is typically RM400.

Cold kills, Sweat does not

I still remember during winter in Bristol, UK, I sat right beside the heater because the room was very cold. I could imagine how people would have felt without any access to heater every day. I think it’s time we realise that we could make a small difference. Truth is, cold kills while sweat does not. Recently, it rained a little more than usual. I think I will just allow the air-con to be switched on for an hour. My son would just have to adjust accordingly.

Happy understanding and doing a small part in reducing unnecessary electricity usage.

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Personal Finance 101: These are 5 important elements

First of all, there are no links anywhere in this article for you to buy any savings plan or insurance or mortgage plans. There are also no links to view a virtual 360 of a property too. Haha. You are reading this in kopiandproperty.com and this is from someone who has gained some investment experience and wants to share with the world.

I write to share what I know, not to sell any courses at the end of the article. Oh yeah, I do not run any course(s) too. Happy reading to understand why Personal Finance 101 is so important to all of us. It starts with getting a decent job…

#1 – Stable working salary FIRST

Entreperenuers can skip this but be reminded that when you hire people, you should tell them this so that they will work hard for you yeah. No entrepreneur can work alone in growing his / her business.

This is the base supporting the next stage; savings. Job market is all about demand versus supply. If we are good, we are paid higher. If we are good and we are not paid higher, it means we are not as good or that we are in the wrong job. Always take action and always note that if your employer does not appreciate you and you are still staying in the company, I hate to tell you but it’s not the employer’s fault.

However, if we could not find another higher paying job because our skill and expertise is not something special, it’s time to think about how to upskill and upgrade ourselves. Then, we will be more valuable in the job market.

#2 – Needs FIRST, wants occasionally

If we really do need a car, then buy a car which can help us get from point A to point B. It does not need to be a car which will make us feel better when we compare to those driving a cheaper car. (There are so many driving much better cars!)  It does not need to be a car which our friends will approve, they are not the ones paying for it every month. A car appreciates on the first day it is driven out of the sales gallery. Second-hand car need not be a second choice yeah.

If we need lunch, RM10 can be lunch money. RM20 can be lunch money. RM28 for a set lunch with a cup of coffee can also be lunch money too. Difference is RM300 saved per month if we opted for RM10 versus RM840 per month if we opted for RM28. This is just ONE meal for the day. It would not kill us to spend even lower for lunches yeah.

Spending based on needs would help us tremendously to have extra money which could then be saved up.

#3 – Fundamental is all about savings

Whether we are working in one or two jobs or we are an entrepreneur, we need to save up some of the money we earned. If we earn enough money, we could save. If we are able to control our expenses, we could save. If we did not buy what we wanted and stay focused on what we need, then we could also save. Thus, whether we could save or not would already show if our finances are healthy or is fast becoming a worry. In fact savings will provide ‘ammunition’ to the next important stage in Personal Finance 101 which is investing.

Remember, a long time ago, we can save for 30 years and when we retire we have enough money to slowly spend until we say goodbye to this world. Then, we retire at 55 and typical life expectancy is 70 or lower. We save 30 years to last us 15 years. That’s why it may be enough to use that savings.

Today, even when we retire at 60 (which is extra 5 years), it is at least another 20 years which we would have to care for ourselves. Life expectancy is likely to be closer to 80 for majority. This is why savings alone is no longer enough.

#4 – Investing requires knowledge and capability not to be cheated

How many of us realize immediately that a friend is lying as soon as they tell us that if we invest with them, they can give us returns of 2% per month or 24% per year? Actually, even if they say it’s 1% per month or 12% per year, it’s still a lie. If anyone can guarantee even a 12% return per year, the banks would invest with them because the banks are only paying you and me 3% for fixed deposit rates today.

Simple fact yeah. If banks would invest with them, why would they sell the investment plan to you? Personal Finance 101 means we must know when not to believe something which is too good to be true.

Investment returns do not come in days or even months. It also does not come from a stranger and it does not come with super high returns. How many stranger you know wants you to become rich and he is just trying to help strangers?

Invest into the stock market and someone would tell you that you have to watch at it every hour and every day. By the way, that’s called trading. Investment is always a longer term thing, exactly like if you invested into a business, the returns would come 12 months later if not more. It takes time. If you invested into a dividend stock, then the dividends will come regularly and it’s not daily or monthly. It’s usually quarterly or half-yearly or even annually.

Investing into the property market would take a longer time and does not give you immediate returns too. However capital appreciation will happen and it may just because of inflation. Land does not get cheaper. Salaries do not go lower. Building materials can only become more expensive. This is already the reason why prices would be higher in the future. So, property is a good hedge against inflation.

A property today may be worth RM350,000 and in the future may be worth RM700,000 but that RM700,000 may just be equal to the value of the RM350,000 today. The question is, can you save RM350,000 by yourself? If yes, go ahead. If no, then buy a property and force yourself to save and in the future have a RM700,000 property which you could sell and do things you love.

Every other investment needs knowledge. The good thing is, one has a wealth of information these days that it’s possible to know and learn. In fact, even reading 1-2 articles a day in kopiandproperty.com would provide you that information needed too. We are not part of any property developer, not a real estate agency, does not even have a Real Estate Negotiator tag and does not sell you any mortgages.

#5 – Protecting what we have

The final part on Personal Finance 101 is to protect whatever wealth we have because we could save for 10 years and we have RM50,000 in the bank but if we were admitted into the hospital and had to stay for 2 weeks’ treatment including tests, x-rays, minor surgeries etc, the bill for this 14 days’ stay would have eaten up easily half of what we saved for 10 years. However, if we have a medical card which we paid monthly, then it would have provided us with the wealth protection if some unforeseen circumstances happened.

Insurance is NOT an expense, it’s an investment to protect what we have built up. It’s not just medical bills for us. It’s also to ensure our loved ones are protected financially if something happened to us. So, stop ignoring your good friends who happened to be in the insurance industry yeah. Getting to know more is a very good thing to start.

Happy earning, spending, saving, investing and protecting. This is the Personal Finance 101 which should be taught in schools and colleges and even universities. Feel free to invite me if you like. With advanced notice, I could deliver a Personal Finance 101 seminar. Cheers.

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Personal Finance 101: How to calculate EPF money we have when we retire?

Personal Finance 101: How to calculate / estimate EPF money we have when we retire?

You will need to be an EPF contributor first

In order to benefit from this article, you need to be an EPF contributor first yeah. As for EPF, much has been said about the recent RM500 being deposited by the government to EPF contributors who have too little money in their account. Some said that EPF members should be allowed to do another round of withdrawal. Some say it is irresponsible to allow that because these savings are meant for retirement days. Well, the debate rages on but for all other contributors, did you know that you could estimate how much total EPF money we have when we retire?

Step 1 – Login to KWSP

URL is here:
https://secure.kwsp.gov.my/member/member/login

Image as below.

Once we key in our ID and password, we will come to an overview. Click where I show below.

Step 2 – Click on Retirement Savings

Once you click you will see this as per below: Click Retirement Savings

Future Retirement Savings Projection

Do fill up the necessary after you have clicked on “Calculate Retirement Savings”   I have entered a sample as below.  Please enter your own yeah. Then click “Calculate.

Upon clicking “Calculate” the amount you will have at the end of the retirement will show. By the way, as long as this person (example above) continue to move up the corporate ladder and EPF continues to give an annual divided rate of 4%, after working for the next 31 years, the person would have an EPF savings which is pretty comfortable and well above the minimum EPF savings of RM240,000 upon retirement. This is why we should get a good job, keep a good job and continue to perform in the job. 🙂

Happy trying and be happy and then continue to work harder too. I meant, smarter. Cheers.

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Personal Finance 101: EPF is for retirement. Period.

Withdrawals from EPF is not wise, not for 4 times definitely

When the government first allowed EPF withdrawals, I was against it. Even from the FB comments and my conversations, it is safe to say that many of the ones saying they will withdraw since it’s allowed do not need it in the first place. To these people, the withdrawal either gives them money to invest (which is great) or the extra money to spend (which is bad). These people are not the actual target of the ones in need of funds during the pandemic. The real target were these people; people who needs the money for emergencies.

Article in nst.com.my
   51.5% or a total of 6.67 million of Employees Provident Fund (EPF) members below the age of 55 are having an “extremely low” savings of less than RM10,000 in their account.

The EPF chief strategy officer Nurhisham Hussein said, “The majority of members still have low savings. The number of members with savings below RM10,000 is at 51.5 per cent as of the end of 2022. This situation is very worrying.

“We estimated the savings to return to the original level in three to five years.”

The EPF considers a sum of RM240,000 as adequate for a poverty level pension by the time they retire.

“The low amount of savings currently is due to the four rounds of withdrawal related to Covid-19 namely i-Lestari, i-Sinar, i-Citra and a special withdrawal involving a total of RM145 billion.” Do read the article in full here:
Article in nst.com.my

There is a reason for EPF not to be touched

Once these funds are withdrawn from the EPF, it would take many years for it to be replenished and during these times, the loss also come from the interest which would have been gained if the money had stayed invested inside EPF. Remember, the RM10,000 withdrawn  today is actually worth many times more in the future because of compounded interest from the amount withdrawn.

It’s too late since the withdrawals have been done. However, it’s not too late to stop future withdrawals because helping the ones truly in need has no relevance to allowing everyone to withdraw the EPF savings, whether or not they actually need it. It’s really time to stop all these blanket kind of decisions. Whether it’s EPF withdrawals, whether it’s petrol subsidies, whether it’s any special payments like the recent RM150 to students. Let’s really provide MORE help to the ones in need and not just everyone gets a little of what’s available.

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