Are banks still resilient in Malaysia? Who says what?

Do you think banks are still doing fine? Are banks still resilient in Malaysia? After 6 months of moratorium and another 3 months of extension?

What happened during the moratorium, briefly?  This was when banks were asked to continue paying salaries to all their employees
(over 164,000 of them as per this report by BNM)
  BUT to allow borrowers to delay their loan payments for 6 months, what do you think would be the first thing which the banks did? They needed to check if they could survive…

Photo by Engin Akyurt on
Pexels.com

Not many businesses I know could keep paying salaries but not receiving any payments for 6 months. Briefly, Malaysian banks was in a very good financial standing when the moratorium of 6 months were announced. What has happened to them today?

They seem to be still in good financial standing because out of all the applications for moratorium extension, they approved 98% of them. This extension lasts until end of 2020. Are banks still resilient in Malaysia? Would some banks go under? At the moment, there has been no such reports and in fact the following article just appeared with all the comments from prominent analysts who would have access to much more data than the public.

Article in themalaysianreserve.com
  MIDF Amanah Investment Bank Bhd (MIDF Research) analyst Imran Yassin Md Yusof stated in a research note yesterday. “The recently implemented Conditional Movement Control Order in Selangor, Putrajaya and Kuala Lumpur, we believe, will have limited impact on banks given the limited impact to overall GDP this year.” Recovery on loan repayment post-moratorium has reached 70% of pre-moratorium levels.

“With the automatic loan moratorium in place, the total banking system impairments and delinquencies have remained low, but are expected to increase in the period ahead.”

AmInvestment Bank Bhd analyst Kelvin Ong said despite the weaker earnings of banks in 1H20, weighed down by margin compression from the consecutive Overnight Policy Rate cuts and higher provisions for credit losses, banks maintained healthy capital and liquidity positions. Ong shared that the gross impaired loan ratio for the sector was at a low 1.5% due to most retail and SME loans placed under the automatic blanket loan moratorium for six months. Please do read the article which has a lot more predictions and analysis too.
Article in themalaysianreserve.com

Many times, it’s about the timing. People without a job could get a job if they could have more time. Businesses who received a zero rental offer for a few months may be able to survive and start paying rental after those few zero business months. Forcing the business to close down does not benefit the owner because there is no guarantee there will be a next tenant within a short period of time. How many small businesses are thinking of expanding or starting under current circumstances?

Oh yeah, whether banks are resilient or not, just follow their quarterly reports.  There’s really no need to speculate. If they remain profitable even if those profit numbers are down, they remain resilient. If they start to show that they could not hold on, start some rationalisation processes will start. For now, from all the readings and the signs, “Are banks still resilient in Malaysia?” I think our banks are still on a strong foundation. It’s eroding, that’s quite sure but again, it’s all about timing. Happy understanding.

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Are buyers really desperate?

On and off, we hear the grumbles from some of our friends that the property prices are expensive. Then, when I pointed out that it is not true and that they can still buy apartments for less than RM200,000.  Their answer was, they wanted a condo instead. Then, when I pointed out that for a little bit more, a condo is reachable but they have to buy further away, their answer is, ‘its too far’ or ‘that area I don’t like’. Do you see what I see now? Are the buyers desperate? Oh yeah, two friends even commented that those affordable schemes that either the federal government or the state government is running are too few, it’s impossible to get one. Both of them said, they have not yet submitted their application. What the ……… ?

In Hong Kong, when any unit is put up for sale and is 10% below market price, it will be snapped up almost immediately. In Singapore, the same situation would also happen to HDB flats. However, in Malaysia, even up till today despite the fact the secondary market has not gone up like the primary market, people are still not buying. If people are buying, why are there still so many listings for properties below RM400,000 in Iproperty, Propertyguru, or Propwall? Who are we trying to kid here? On one hand, everyone is saying that anything above Rm400,000 is a definite no-no but on the other hand, those properties which are still way below Rm400,000 are still lying everywhere!

Let me give you a real example. As I was not rushing to sell, I put up my condo in Penang for RM640,000. It comes with 2 car parks. Size is 1,258 sf. In other words RM508 per sf. Today, you cannot find ANY new launches for such a size and car parks for this price in Penang. Yet, people are still waiting for the prices to go down. My agent laughed together with me too because I told him, since buyers are not desperate, I am ok to wait and as soon as markets start moving up, I will adjust my price. For those buyers who wants such a size and 2 car parks and by a reputable developer, I sincerely think you will lose this opportunity. I know, some would say there are a few projects which are below this price! Let me tell you in advance, ‘Please proceed to buy THAT project’. SMILE.

Transactions have gone down. Prices has inched up. Buyers are still looking, waiting and they are not desperate. It is perfectly fine because if you look at the base price of a few years ago, it also meant that the sellers are also rather comfortable even at this current situation. Malaysia is nowhere near America. Here, if you do not qualify for loan from local banks you will not get the loan. The failure rate for new home loans are close to 50% for all new launchings. (developer’s info). If I have extra cash, I will not wait. My next purchase is going to be for rental purpose as I think there are still a lot of gems in the market today.

written on 26 April 2014

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Are buyers still browsing newspaper for new projects? My views.

In a newspaper report on 12th Sept 2014, the Property Industry Survey by the Real Estate and Housing Developers’ Association Malaysia (REHDA) revealed that 31% of properties in the RM500,001 to RM1 mil range were still unsold after completion in the past three years.The main reasons stated were because loan approval was tough and also due to the unreleased bumiputra lots. Most of these units were in Selangor and Johor. If you think this is negative, demand was still in fact still intact, according to REHDA president Datuk Seri Fateh Iskandar Mohamed Mansor. It was only due to the government’s cooling measures which has made it much more difficult to sell successfully in the affordable housing segment. Note: Demand is still there.
However, he further elaborated that in the most recent launches, less than 50% of units launched were sold after over half-year period.

Actually, as a buyer, I would like to just reiterate a very important point to developers. Pricing is very important these days because comparison between projects could easily be done, online. Any developer trying to push the pricing up higher than similar projects will not be successful. Of course, there are definitely some developers who has better branding than others and thus would carry a slight premium but this does not extend to just any developer in the market. Especially those who are famous for cutting corners. Those who have been selling for over 6 months would face a double whammy because they cannot sell lower or their first batch of buyers would be angry. Yet, they could not sell the remaining units without some special promotions…..

Marketing and Promotion. Today, even if I receive a leaflet in my mailbox, do you seriously think I would call the number stated or would I just browse online to know more about the project? Of course, if I am not interested at all, that leaflet would become a rubbish. Today, even when i drive along the road and I see a very interesting project, I would not try to read everything on the billboard. I would just remember the project name and later, browse online. If I suddenly had the urge to buy newspaper today, even if I see the one full page advertisement, I would still be using my smartphone or my wife’s tablet or my Macbook to review the project before I run to queue up for the project’s opening. I can safely assure you that nearly NONE of the buyers going to your launching would be holding a newspaper. Smartphones, sure.

It is ok, I think many of these developers still believe traditional medium is the best. That’s why they allocate a huge budget for these and then try to use as little of that allocated budget as possible. Think a little higher, extend your budgets further. There are reasons why many of the traditional newspapers are pushing their online subscription by giving special discounts and offers. Truth is, IF my hardcopy newspaper is doing extremely well, I would not be trying to kill my own business by pushing towards online. The largest companies in the world today include names like Google.com, Facebook.com and more. All these companies also call themselves a MEDIA company.

written on 12th Sept 2014

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Are we going to recover from COVID-19 quickly?

I subscribe to visualcapitalist.com
  I think everyone should. They have very informative charts for everyone to understand where we are, where are we heading and perhaps telling us if we have a window of opportunity to do something about it. One latest table and infographics they have would be on country’s reopening as well as their road to recovery. In brief, who will recover earlier than others and how badly affected are they at this point with regards to the COVID-19 pandemic. The below shows the bottom ranked countries for total cases. In other words, if we have fewer cases, we are ranked here. Malaysia is within the top 10 lowest for total number of cases.

There is also the recovery rate.  This meant if you got infected with COVID-19, what’s the chance of you recovering fully from it. Malaysia is not within the top 10 highest this time. However, we are among the 16 countries where the recovery rate is ABOVE 80%. Yeah, there are just 16 countries who has managed to achieve that thus far. Thank you to all the frontliners who have worked so hard and to all the Malaysians who followed the social distancing guidelines.  You have made a difference.

Meanwhile the image below shows economies which are reopening and it’s divided into 4 quadrants. High Mobility, High Recovery means that these countries have a high recovery rate and the country has lifted the restrictions and people are starting to get back to work. Malaysia is quite close to joining this quadrant.  We are currently in the Low Mobility, High Recovery quadrant. This is for countries where the country is still playing it safe and will continue to reopen by looking at the rate of recovery of the population. I guess one more week and we may just join the High Mobility, High Recovery quadrant.

Do remember to subscribe to visualcapitalist.com
 for even more charts like this. Else, you will have to wait until I write something about it. Happy understanding that we may not be at the top but we are definitely among the countries doing well in handling COVID-19 pandemic. Stay safe and always wear masks whenever necessary.

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Are you going to be a millionaire?

If you google for ‘millionaire traits’, or ‘habits of millionaires’, you will come across a lot of similar reasons why some people can become millionaires while some may just be one out of millions of
struggling middle class
.

They love what they do. Always passionate in whatever they do. If they start on a new role, they give it everything they have. These are perfectionists in the truest sense. Be reminded, perfectionist is not doing something so amazingly right that first time that nothing could go wrong. Perfectionist is someone who continues to improve every time they do something. If they can find a better way to do it, they would. It’s not wasting hours after hours in polishing the car when they could have read more, earn more and get the professionals to do it. They are SMART!

They spend lesser
 than what they could afford. If they can afford a bungalow, they buy a semi-detached. If they can afford a semi-detached, they may choose to buy a decent sized condo instead. Why do they do this? Well, perhaps they would like to use the extra savings on more investments which gives them more returns? Think about it, the savings may already be enough for another property that you can rent out. Instead of a segment D car, they may choose to buy a segment C instead. The truth is, YOU define your car. Not the other way around. I have never heard of people being respected solely because they drive an expensive car. Envied, perhaps. Respected? Nah……

They spend their time to the fullest.
Always learning, always reading.

Imagine if you read a book written by someone with 10 years of experience in property investment. You would have gained tremendously and would have improved your knowledge by many levels up. These are the people who seldom watch TVB series the whole night, play Candy Crush the whole day and especially would never wake up at close to noon during weekends. Why waste time? However, these are also the same people who would have no issues to spend hours, just sitting at Starbucks, chit-chatting with like minded friends about starting a new venture / business.

I know, I am not there yet but since I have read a lot of these articles / books, I will try to follow as best as I could. How about you? Are you going to be a millionaire? Or perhaps a multi-millionaire?

written on 18th dec 2013.

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Are you ready to pay? 30th September is not too far away.

It has been announced by many banks that they are not keen on extending the moratorium after 30th September. If you think it’s unfair, well if they extend, it’s also unfair to many thousands or hundreds of thousand of people. You see, banks have shareholders who will have to accept even lower profits if the moratorium is extended any further. They had already accepted that first 6 months moratorium from April 2020 to end September 2020.

Worried employees?

The banks also have many employees who would also start to worry if the banks’ profits kept dropping and yet have to keep paying salaries. Who will help them if the banks decided to let them go? The ones who got the moratorium? I guess if someone owes us money and they kept asking for extension, even we would not like it that much, right? So, what happens if the one really needs the extra extension?

Article in themalaysianreserve.com
  Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) ED Ratna Sha’erah Kamaludin said member lenders are looking at ways to help borrowers who need help with repayments if the moratorium ends in September. She said“For now, not all customers need or want relief. So, moving to a case by case basis helps banks to support more specifically. This is in the best interest of the economy as it has the better short-term and long-term outcome for both customers and banks.”

Meanwhile Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said that the government has not decided on the loan moratorium. He says that the next steps would be to have continued discussions with local banks to provide more targeted aid. He said, “For example, this may mean extending the loan period to reduce the instalment amount or to change terms and conditions.” Please do refer to the full article here:
Article in themalaysianreserve.com

Would the banks want to take back that property?

When we understand the market a little bit more, we would know that even if the banks were to take back the properties due to default, it is not certain that they could auction of that property at a price around market price or higher than market price! This is why it is not in the best interest to banks to make all defaulters a bankrupt and having to now take the property and auction it at easily 40 percent below market. When they sell at such a low price, all stakeholders lose money except the potential buyer.

My thoughts

If we are an owner, it’s best to be prepared to start paying when the day comes. This is not the time to spend too much and then worry later. If we are waiting for auction properties to buy which comes from all these defaulters, I think this may not the year. Probably we have slightly more next year but the number would be manageable. The banks prefer to help their current borrower so that very soon the mortgage payment could be regularised again. As for now, perhaps it’s best to go to the bank and actually ask what are the options available. Cheers.

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Are you really looking for your first home? Try MASPEX, Penang.

A good friend who is a strong advocate for affordable property, Michael Geh the Senior Partner of Rains & Horne forwarded an announcement to me. It is about the Malaysian Secondary Property Exhibition Penang (MASPEX Penang 2014). It will be held in Penang beginning Friday (20th June). This is the kind of fair which I like to go, especially if I am looking for my first home. I mean, it is almost impossible let to get an affordable new launch these days but there are still choices in the secondary market. Yes it may look old, it may need some renovation you are still doing renovation anyway even if you buy a totally new place. Do read on MASPEX Penang below.

Date: 20-22 June 2014

Venue: Penang Times Square

Opening hours: 10am to 930pm

MASPEX Penang 2014 is organised by The Malaysian Institute of Estate Agents (MIEA) with Maybank Berhad as the main sponsor. It is a three-day event where more than 2,500 properties all over the state are expected to be showcased at comparatively lower prices than newly launched housing projects. Penang State Exco for Town & Country Planning and Housing YB Jagdeep Singh Deo will be officiating the event at 11am this Friday. After the opening ceremony, there will be a forum on the regional property market where Property & Real Estate Players & Interested home buyers may learn more about what’s happening in the market.

The forum will be moderated by MIEA president Siva Shanker while the President of the Institute of Estate Agents Singapore Jeffrey Foo, Senior Partner of Raine & Horne & MASPEX Penang 2014 organising chairman Michael Geh and Hon Secretary-General of National House Buyers Association Chan Kim Loong will be on the panel. The experienced panelists will discuss the latest information on what is happening in the housing industry, not only in Malaysia, but also in the region.

On the second day, visitors may expect to learn more about the hotspots in Penang, legal tips on property buying, architectural heritage planning and an overview of the 2014 property market outlook. There will also be tips on affordable homes interior design, property tax for the secondary market, the GST impact on property and the impact of IT on the property market. The secondary market are homes, or properties, that are several years old, and for many years now, many home owners have bought their first homes by tapping into this market.

If you are serious, then be serious and visit this one and only secondary property fair. Yes, it is true that you can also go online but nothing beats talking to a real person on the property itself. Happy buying.

written on 17 June 2014

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Top 10 most searched areas for rental in Malaysia?

Are you renting a home or a room today? Searching for areas for rental?

By the way, renting is a good idea since rental has been under pressure for the last few years as there has been many who bought during those booming years from 2009 – 2013 and these units started to hand key to these owners beginning 2013 to 2017. Just remember that whatever savings we get from renting versus buying a unit should be saved for rainy days and better still, reinvested for more returns. Where do people love to rent? iProperty.com has the answers.

Article in iproperty.com
  These are the most searched areas in Malaysia among renters.

#10 Bukit Jalil (search percentage is 7.8%)  This is an area which is just 15km away from KL city centre. There’s also very good connectivity and LRT Sri Petaling Jaya Line made this awell positioned area.

#9 KL City Centre (search percentage is 8.1%)  This is where people are working and many may just want to wake up half an hour before leaving for office versus having to drive over an hour just to arrive for work.

#8 Subang Jaya (search percentage is 8.3%)   This city has a lot of shops, restaurants and cafes and the LRT Kelana Jaya Line provides fast and direct access to the KL City Centre. This is also where a lot of private higher institutions are situated which makes it ideal for students.

#7 Ara Damansara (search percentage is 8.5%)  This area sits in the middle of highways such as the NKVE, LDP and Federal Highway. Thus this provides a good and direct access to Shah Alam, Subang Jaya and Petaling Jaya.

#6 Bangsar (search percentage is 8.5%) This is an affluent residential hub. In fact, in the evenings, it comes alive with entertainment outlets in Jalan Telawi. Besides that it is also near to many shopping malls including Bangsar Village I and II, The Gardens, MidValley Megamall, as well as the transportation hub, KL Sentral.

#5 Ampang (yes, this is within Kuala Lumpur and it has a search percentage of 9%)  This area is ideally located close to the KL Golden Triangle and thus within major roads and highways such as Jalan Tun Razak, Jalan Ampang, AKLEH and MRR2 as well.

#4 Mont Kiara (Search percentage of 11.8%).  This was where my auction house was once situated. It’s definitely another affluent neighbourhood and is synonymous with high income earners and the expatriates. At night, it comes alive as well with its hip cafes, restaurants, bars and fine dining options.

#3 Petaling Jaya (search percentage of 11.8%). This is the country’s first planned town and has lots of hipster easteries and chic cafes too. While there’s always a never ending stretch of jams, the LRT 3 which will be completed in 2024 should alleviate some of these jams. Currently, it is served by the Kelana Jaya Line and the MRT SBK Line too.

#2 Cyberjaya (search percentage of 12.2%)  This is part of the Multimedia Super Corridor (MSC) of Malaysia. Today, it is full of many data centres, customer service, MNCs and even private universities. The highlight would be the many parks and public amenities too.

#1 Cheras (search percentage is 14.1%)  This is one of most popular areas and within this densely populated area, there are also endless choices of amenities to fit the diverse demographic too. It is also the home of one of the longest night markets in Malaysia and is open every Wednesday.

Please do read the much more comprehensive article on areas for rental in iProperty.com  Lots of information and photos too.
Article in iproperty.com

Moving soon?

Should you move to within these 10 most searched areas for rental? Of course these are very good choices since they are very popular.  Just note that the place you intend to rent should just meet all your requirements and there’s really no need to rent where everyone loves to rent unless they meet your requirements too. If we were to rent in lesser popular areas, there’s also that chance to save a little bit more.

Then again, we may need to forego some loss in amenities, connectivities and even eateries yeah. There are reasons why people love these areas for rental. Happy searching and remember yeah, renting is cheaper and better ONLY if you actually save money and invest it. If you are renting and spending all the savings then within a few years, you will be by far worse off than someone who paid extra every month but has actually started his property ownership journey.

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Press Release: 100% Sold Out Arena Xchange Is Set To Unveil Lotus’s New Concept Store

Arena Xchange by IOI Properties Group was fully taken up within 4 months of its launch.

SEPANG, JANUARY 2023 – Arena Xchange, the first freehold commercial development in Warisan Puteri, Sepang, was fully sold out within four months of its launch in March 2022. This reflects the strong levels of confidence our customers have in IOI Properties Group Berhad (IOIPG). This has drawn prominent retailers such as Lotus’s to the well-planned mixed- development township of Warisan Puteri, Sepang.

Lotus’s, a popular supermarket chain, will take up 8 retail shop office units totaling over 1,000 square meters at the 49-unit Arena Xchange. Anticipated to be launched this year, this will be a unique supermarket concept store to the brand, located within a commercial development that highlights the brand’s promise of freshness, convenience and value for money.

“We are pleased with the continued support of Lotus’s by opening its first-of-its-kind concept store in Arena Xchange, which offers greater accessibility to budget-friendly prices for the everyday needs of nearby communities. This fresh addition to Warisan Puteri, Sepang enhances the community living experience at our township and is in line with our mission to create innovative products and services,” said Dato’ Voon Tin Yow, CEO of IOIPG.

The Group has facilitated well-known brands such as Lotus’s and Starbucks amongst others to Warisan Puteri, Sepang. This reflects IOIPG’s commitment to building vibrant and thriving communities. The arrival of these amenitiesto the community ensures an enriching experience that would continue to attract more business partners and residents to the area.

Kenneth Chuah, President of Lotus’s Malaysia remarked, “The launch of our first 1,000-square-meter store is significant to us, as we move forward with our expansion plans. Besides meeting the government’s standards for foreign participation, our research showed that customers nowadays prefer doing their grocery shopping quickly in smaller stores that provide comparable availability, selection, and convenience. In addition to that, our aim is not simply about giving customers the best value for their money through the products we sell; we would also like to become the heart of the community wherever we operate, and we are seeking opportunities to collaborate with developers who have strategic locations for us to expand in.”

Arena Xchange is well-positioned within the bustling township of Warisan Puteri, Sepang. It benefits from a good catchment area (20 km radius) comprising 12 educational institutions including SK Kota Warisan, SJK(C) Dengkil, Xiamen University, and INTI International University amongst others. It is also conveniently located within close proximity to Kuala Lumpur International Airport (KLIA), KLIA 2, and Salak Tinggi ERL Station. Other attractive amenities
include Nilai Medical Centre, Mitsui Outlet Park, and many more.

Apart from being located near strategic amenities, the bustling Warisan Puteri, Sepang township offers excellent  connectivity to multiple highways such as the Putrajaya–Cyberjaya Expressway, Maju Expressway (MEX), North-South Expressway Central LinkHighway (ELITE), Lebuhraya Damansara-Puchong (LDP) and South Klang Valley Expressway (SKVE). With such conveniences, Arena Xchange is an ideal commercial hub to complement the Group’s upcoming launch of Arena Residences.

The Launch of Arena Residences

IOIPG will be launching Arena Residences in Warisan Puteri, Sepang, comprising 866 units of freehold serviced apartments. Located beside Arena Xchange, it is anticipated to benefit from the availability of commercial and recreational components within the self-sustainable township.

The Arena Residences, with an estimated Gross Development Value (GDV) of RM150 million, will be launched in two phases. Spread over 3.28 acres, the two phases will consist of 4 blocks with layouts ranging from 2 to 4-bedroom units – with some of the 4-bedroom units based on dual-key concepts.

Phase 1 of The Arena Residences is now open for sale, featuring the first 4-bedroom serviced apartments in Kota Warisan, Sepang. It is expected to be completed in Q3 2025. All units are partially furnished with prices starting from RM250,000.

-END-

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Armanee Condo @ Damansara Damai, after 2 months.

When I first decided to move to KL, I asked my colleagues if it is worth buying in Sungai Buloh. I could see landed properties there still so cheap. Much cheaper than Penang where I have been based for the past 15 years. With their answers, I naturally looked around many areas which were highly recommended. For example, Cheras which they said have everything you need and it is in a good neighbourhood. My friend and many of her relatives have stayed in Cheras for a very very long time. My relative meanwhile told me that Puchong is worth because it is still cheaper compared to Kelana Jaya where I stayed. In fact there are many new developments there. I viewed many units, with a few different agents until I decided to buy right next to Sungai Buloh, in Damansara Damai.

Let me tell you my 4 key reasons why I would recommend my current condo.

Still a steal. I bought my condo for just RM540,000. You cannot find such fully renovated units for such a price today but even at today’s price which is 5-10% higher, it’s still a steal! 1,745sf condominium with a park which is very well maintained and a pool which is so enticing, there’s just not many such condos around. Do not listen to me, on any weekend, get the agent to show you a unit, then go to the 1st floor where the park is, walk one round and understand why I say so. Oh yeah, the morning view’s great but the night view is even better.

Food and Malls. There are many many kopi tiams (restaurants) within a 10-minute drive. Even the char siew pao I like at Fuh Lai dimsum restaurant is also just 10 minutes away. Also the Lan Je steam fish. Also the value for money Curry Laksa. Also my father’s newly found favourite curry mee in Damansara Damai. I have access to restaurants in Bandar Manjalara just 10 minutes away or three AEONs and Jaya Grocer which is all between minutes to within 15 minutes away. IKEA / The Curve / 1 Utama is meanwhile within 17 minutes away. When I was in Penang, I needed almost the same to arrive at the nearest mall from my condo. In terms of size, there’s no comparison to what I have here in KL.

Distance to office. When I stayed in Kelana Puteri, in the morning, I needed around 40 minutes to reach my office (downtown KL) as long as I do not start later than 715am (normal jam) Today, I am 2km further away from my office and it takes me 45 minutes to arrive in office, even if I start my journey at 730am. In terms of coming back, I used to take 45 – 1 hour to arrive to my Kelana Jaya home. Today, I seldom exceed 45 minutes and even my wife is surprised because the distance is supposed to be 2km further away. There are many more options to go office too. NKVE, Penchala or even via Kepong.

Potential. I am very sure even based on inflation and structural demands based on demographics, every area in KL / Selangor is worth a look. However, Damansara Damai is just beside the next growth in Sungai Buloh. Kwasa Damansara’s RRIM land. Other notable developments include Mah Sing’s D’SARA, OSK’s Sutera Damansara and even the continuous appreciation of the currently already expensive areas nearby. Conservatively, I am only thinking about RM400 psf in 3 years time. Haha.

Enough for this time. If you are like me, not too rich but not too poor and you agree to the 4 reasons above, do take a look. My family and I have since stayed here for two months and have grown to like it. Yes, there are LOTS of disadvantages. As long as you feel the disadvantages that you know beats my key reasons below, that’s great. You can skip Armanee and buy somewhere else instead. As long as you are happy, that’s the most important. Never listen to someone who tells you great things about the place that he is staying now. Oops. I think I am not just talking about myself but also my friends and my relative who told me about the amazing Cheras and Puchong. Haha.

written on 19 Aug 2014

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Art pieces still very sought after. (Auction in Malaysia)

In case readers of kopiandproperty.com do not know, I am a licensed auctioneer. So, I get to knock on the table and get paid. By the way, it’s illegal to conduct any public auction in Malaysia without a licensed auctioneer yeah. As a licensed auctioneer, I have conducted auctions for special car plate numbers, coins, banknotes and of course properties. I have been involved with auctions for art pieces but has never conducted one thus far.

I missed a recent one by Henry Butcher Art Auctioneers (HBAA). It was held at the Galeri Prima and entitled, ‘Malaysian and Southeast Asian Art Auction.’

Article in nst.com.my
   A total of 120 paintings were sold for RM2.2 million within four hours at the Malaysian and Southeast Asian Art Auction on Sunday. This is despite the current turbulent global ecoomy and the Covid-19 pandemic.

“Little Things”, a 1995 artwork by legendary Malaysian artist Datuk Ibrahim Hussein, fetched the highest price of RM403,200 at the auction organised by Henry Butcher Art Auctioneers (HBAA).  HBAA director Sim Polenn said the second-highest bid and most sought-after artwork was Yusof Ghani’s “Siri Tari”, a 1993 oil-on-canvas artwork auctioned at the price of RM168,000.

The third-highest bid was the 2004 “Red Legong” – and acrylic-on-canvas piece by another famous Malaysian artist, Ahmad Zakii Anwar. It fetched RM108,000. 200 bidders were bidding through online and phone calls. For more details, please read
Article in nst.com.my

I know, someone may be thinking… is art considered an investment? I have no answers for you on the initial prices for the paintings which were auctioned off in the Malaysian and Southeast Asian Art Auction versus their latest sold price. However, there is this possibility.

“On average, art returns 7.6 percent to investors each year,
according to Artprice
.”
(Read full article here)

“A painting of Christ believed to have been painted by Leonardo da Vinci has just sold for a record $450m (£341m). Just under 60 years ago, the very same painting, then generally reckoned to be the work of a follower of Leonardo and not the work of Leonardo himself, sold at auction for a mere £45.”
Read the full article here.

Well, whether it’s the 7.6% per year which you are looking at or that special one time lucky piece of art which your great grandmother passed to you, art pieces have been an investment item for a very long time. The only thing we need to know that beyond just buying, making sure the painting is well preserved will not be an easy thing to do yeah.

Beyond just my own art piece which I display at my office previously, I have not bought any art pieces. However, I love and could spend hours in art galleries just admiring these pieces with their own history. Yes, I spent many hours in the Louvre Museum in Paris. (That’s where the Mona Lisa painting is and it’s protected by bulletproof glass…) I do hope that I could have time to visit more art galleries here in Malaysia too.

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As people age, they may prefer condo lifestyle instead

A close friend asked me a few days ago about a
luxury condo project
 in Malaysia. Currently priced at over RM1.4 million. Yes, a luxury condo in Penang priced at over RM700 psf. My friend is over 40 years old and thus you may ask, but if she is able to pay for a RM1.4 million property, why not a landed property instead? After all, surely landed properties will increase in price faster than any condo since a few hundred units share one piece of land? Let’s focus on the following few reasons why i told her that she should proceed and not be influenced too much with the ‘landed mentality.’

Condo lifestyle
 is a real trend. This is not just in Malaysia but is happening worldwide. Many years ago, condos were always smaller. Perhaps 1,000 sf and somehow the management of the condo is always problematic to say the least. In fact majority if not all would give you
just one car park
. People who started staying there were also those who felt that landed was too expensive and thus they chose to buy condo instead.   Condos were also thought of as a secondary home, especially the older generation who just can’t bear having other people staying on top of them and lots of many other reasons.

Diversity in choices
. Today, the variety of condos available meant that your choices would just be filled. For example, 2 car parks are minimum and some gives 3 car parks today. The management of the condo is now better as it is a joint management and if you are staying there, of course you want the best for your home. Today, even my parents would agree there are advantages to condos even if they still prefer landed as at today. Many years ago, they think condos are for poor people! A condo may even be bigger in terms of built up than many of the terrace houses today which are already above RM1 million easily. My current condo is 1,750sf and this is without any doubt bigger than many of the newer terrace houses in the market today.

Location, Location, Location. My close friend said she wanted to stay close to her family. For this reason, there were only condo choices because the area her family was staying
was a very matured area
. Those ares which are full of, ‘born here, studied here, stayed here and will die here’ type. In Penang there are many such areas and for these areas, typically new properties would be just condos as the developer can then
maximise the piece of land
 they bought. This is the reason why most of the time, when the price is right and the location is great, the choices available would be just condos. There could never be new landed properties in old housing areas. Please stop dreaming.

Her final choice? Yes, she’s getting that condo because truth is, even if she were to argue with me, her options were limited. She either pays so much that she feel tensed every month or she buys a condo which is much bigger than any terrace houses nearby and gets to stay just a few minutes from her family home. As for me, until today, I have only bought condos. I know, it’s
HIGH RISK
 since only landed properties would be considered a safe investment. It’s ok, there are people who just want only landed and there are those who prefers huge potential condos. That’s me.

written on 29 July 2014

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Dear ASEAN, working together is the better way.

Within ASEAN, the two property markets which are considered open would be Malaysia and Singapore. However, many other ASEAN countries have started to ‘open up.’ The relaxations are still some distance away from what Malaysia or Singapore has but when it becomes more competitive and attractive, it would attract new investments into the region. I do not subscribe to the rationale that when people come into ASEAN, they can only buy from one country. It’s time to complete the ASEAN growth story, not compete against one another. Tourism can be a great place to start. Think of the potential multiplier effects when we, the people of ASEAN visits one another every time we need a break. Well, someone prominent said something even more important; ASEAN financial integration.

Reported in many local medias, it’s one of those final few messages from a respected central banker, our very own Tan Sri Zeti Akhtar Aziz before her retirement. She said something which I do hope the more objective ones would take note. Bank Negara Malaysia (BNM) was among the first central banks to diversify its foreign reserves into instruments from within the Asean region. This was a very key effort but it was not recognised by the rating agencies. In brief what she meant was that Malaysia understood and took pro-active steps which actually reduces our vulnerability. BNM decided after its own monitoring and surveillance that ASEAN is where it should diversify its reserves into.

Seriously, there has been many instances where some ASEAN countries think they are so good but when we look outside of ASEAN, many regions have formed their own groupings. Without a more collective effort in terms of areas of surveillance, financial safety nets and crisis management, ASEAN nations will have to face the next financial crisis individually. SEA Games may be the only MOST collective one that we have. Zeti said, “Financial integration in the region has not progressed that significantly. Asean economies however have reached that stage of development whereby greater regional financial integration can unlock growth potential.”

She said that moving forward, if there are more financial integration, it would allow the ASEAN region to have a more efficient risk diversification of assets to include foreign assets within the region. Surpluses in some countries channelled to increase the productivity in other member countries. ASEAN region has one of the highest savings rates in the world and this meant that there is immense potential to meet some of the region’s massive requirement for financing, such as for large investment projects or infrastructure development. Let’s do anything we can.

written on 12 Mar 2016

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Economic integration and influence? It’s either with us, or with them.

Someone who is a well known economist sent me an article about his views of China as the world emerging power. We have always had occasional conversations and he is a sought after expert on economic matters. I replied him that if Asia has both China and India as the backbone, then it would be ideal.

He responded by saying “China and Russia.”

I responded, “Russia is already a superpower. However if India is not with us, then she will be with the other side. There is no advantage to us at all.”

Asia is full of potential

Seriously, think a little about it. Asia has 4.5 billion population. All the other economic groupings are certainly smaller. However, Asia is a loose collection of countries. Compare this to the European Union for example and we realise that economic integration will make the whole region stronger.

Need one recent example? Just look at the EU’s vaccination rate per population and then look at the ones in Asia. It’s between the sky (them) and the earth (us).  Need another example? EU’s vaccination passport is being rolled out across all 27 member countries! And they say, ONLY the few vaccines they approve will be allowed for this convenience.

ASEAN as a group?

Before we run too far away, how about ASEAN then? We are also another loose grouping of countries BUT the truth is, we are 660 million strong in population. This is over 40 percent bigger than European Union. However, the clout they have and the clout we have? The integration they have and the integration we have? The one voice they have and the one voice we have? Come on, they could even ban palm oil exports and favour some other oil which is so much more inferior in terms of productivity and thus much more expensive too.

What does the future hold?

I know, I am just a blogger. So, can just write articles lah.  Will write this article and keep it here. We will see what happens 5 years later. We shall see if China and India actually realise that facing the world together is better than facing one another. We shall see if ASEAN really do become more integrated economically too.

Common currency?

No need for some common currency lah, the economies are just too different to do that successfully. Just ensure we use each other’s currency instead of any foreign currency when we trade with one another. Just ensure travelling between all countries are made easier. We can do so much more together versus separately. Yes, we will need Indonesia to take the lead in this matter. Thank you in advance big brother.

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ICAEW: ASEAN economies rebounding in 2021 but dependent on a few factors

A reader of kopiandproperty.com posted this news. Briefly, it says positive things about ASEAN economies. ASEAN economies are seen to be rebounding in 2021. Happy reading to understand more and my personal thoughts right at the end of why 2021 will be a good year if we look at 2020 where the demand has been curbed due to circumstances.

Photo by August de Richelieu on
Pexels.com

Article in malaymail.com
.
   Institute of Chartered Accountants in England and Wales (ICAEW) has the following comments about ASEAN and Malaysia in this article.

“While uncertainties remain, and most economies will take time to recoup lost output, risks have become more balanced with recent positive news on vaccines and regional growth prospects for Southeast Asia in the medium to long term are optimistic.”

Latest economic outlook from Oxford Economics, commissioned by ICAEW, predicted that GDP across South-east Asia will contract by 4.1 per cent in 2020 before a sharp rebound to 6.2 per cent in 2021.
(This is an increase of close to 50% rebound, yes, V-shaped)

As for Malaysia, it says that the extension and widening of cases under the CMCO has put a strain on economic activities. It said, “However, the government has announced a highly expansionary budget for 2021, with an increased focus on infrastructure investment. This will support a solid rebound in economic growth to 6.2 per cent next year, after a 5.6 per cent contraction this year.”  Please do read their full report, quite a comprehensive one touching on ASEAN economies here:
Article in malaymail.com

My 2 cents. Without asking any prominent economists or even doing a super thorough analysis, it is easy to understand that as long as most people have jobs, then all the potential demand for goods and services which did not happen in 2020 will happen in 2021. Even if we assume the demand has reduced, it is still going to be a much better 2021 versus 2020 because the demand for goods and services in 2021 would include all the postponed demand for goods and services from 2021.

These demand can be as simple as the postponed holidays… delayed property purchase… coffee sessions with all your close friends which did not happen and more. Perhaps the question is, could 2021 be that year when everything really normalise. This question will give us the answer on whether 2022 will be another good year. Happy reading.

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Do you know what is placemaking? To me, this is single most important point for all developments. Please note that if a space is made into a community space, then it becomes valuable, it adds value to the whole development and suddenly a mere property is now a home sweet home. I think this award will reveal to us many of these successful placemaking initiatives across ASEAN and let’s continue to build upon these. Please refer to the first ASEAN REGION PLACEMAKING AWARD press release below.  Header Image is a very nice community place, Armenian Park in Georgetown, Penang.

Press Release:
FIRST ASEAN REGION PLACEMAKING AWARD TO BE GIVEN OUT THIS YEAR

Award for best practices in placemaking across all communities

PETALING JAYA, 31 MAY 2021:
 Businesses, corporations, communities, and individuals who are seeking to make the world a better place, one space at a time, can take heart that their efforts will be recognised soon.

The inaugural Placemaker Awards ASEAN 2021 (PAA 2021) will be unveiled this year to honour the best of placemaking projects and give due recognition to community-building in Southeast Asia.

The awards, meant as a platform to showcase the best of placemaking projects is the brainchild of placemaking consultancy Nextdor Property Communications Sdn Bhd and
Think City, a social purpose organisation focused on urban rejuvenation.

“Good placemaking is important, given the rising rate of urbanisation within Southeast Asian cities,” said Imran Clyde (image below), co-chair of the organising committee for Placemaker Awards ASEAN.

With the COVID-19 pandemic creating havoc in many parts of the world, the need to create public space that is safe, inviting, and sustainable has never been more urgent as the world also needs to concurrently tackle things like urban decay, job creation, as well as the negative side of climate change.

Placemaking is way more than just decorating a wall with murals or cleaning up a litter-strewn back lane somewhere. Viewed in totality, placemaking is a multi-faceted approach to the planning, design and management of public spaces that create vibrant spaces offering local stakeholders a sense of wellbeing, safety, and comfort.

In the spirit of encouraging more local councils, urban planners, non-governmental organisations, community organisations, architects, developers, or just groups of determined individuals seeking to transform their neighbourhoods into something better, PAA 2021 hopes to be that platform for entities within the Southeast Asian region to exchange or share best practices in placemaking.

The regional award is aimed at showcasing the best placemaking projects and inspire aspiring placemakers, besides supporting the United Nations’ Sustainable Development Goal 11 (SDG 11).

Other than spurring each other on towards better placemaking, the effort to submit one’s effort for regional and global evaluation will raise the profile of participants and help them gain industry-wide recognition. Even if no profits or personal gain are involved, this concerted effort to undertake good placemaking will only lead to better publicly accessible spaces for all.

“We hope that having such an award programme will drive greater competitiveness in the activation of spaces in which communities live, work and play, thereby promote authentic efforts to improve the community through the initiation of projects that add to the public realm,” said Imran.

Six categories will be accepted for evaluation:

Best Placemaker: Government (public space)
Best Placemaker: Private (public space)
Best Placemaker: NGO or non-governmental institutions (public space)
Best Placemaker: Government (private public space)
Best Placemaker: Private sector or body corporates (private public space)
Best Placemaker: NGO/NGI (private public space)

Depending on the region or country, public spaces are generally government-owned, such as parks, waterfronts, public squares, streets, public thoroughfares, and buildings that are generally open and accessible to the public.

Privately owned space are typically venues that are open for public use, whether a fee is charged or not. Privately owned public spaces include plazas, arcades, small parks, atriums, and shopping centres.

The competition will be judged by Imran Clyde, founder of Nextdor, Hamdan Majeed, managing director for Think City, Anne Lourdes, co-founder of Nextdor, Lee Jia Ping, partner of Tempatico, Hans Karssenberg, partner of Stipo, Datin Mazrina Datuk Abdul Khalid, vice president at the Malaysian Institute of Planners, Ethan Kent, executive director of PlacemakingX, Nani Kahar, principal of LabDNA, Ahmad Jefri, director of Garis Architects & AJC Planning Consultants Sdn Bhd, Michael Stott, partner as well as lead for Design and Strategy at Isocarp, Dr. Dwinita Larasati, co-founder of the Bandung Creative City Forum, Rui Izumiyama, assistant professor at Nihon University, and founder of Sotonoba, Mardiana Rahayu, chief operations officer of Kai Assets Sdn Bhd, Stella Gwee, co-founder and director of Shophouse & Co, and José Chong, programme management officer at UN-Habitat.

Placemaker Awards ASEAN 2021 is co-presented by UN-Habitat, Stipo, and the Malaysian Institute of Planners, with the support from Taylor’s University, the Kuala Lumpur City Hall, Permodalan Nasional Bhd (PNB), PNB Merdeka Ventures, Citi Foundation, Project for Public Spaces, PlacemakingX, Lendlease, Tempatico, Placemaking Malaysia (a centre under the Malaysian Institute of Planners), Laguna De Bay, Real Estate Housing Developers’ Association (REHDA)  Institute, Isocarp, The ASEAN Post, and PR Newswire.

Submission deadline is September 21
st
, less than four months away. The finalists will be announced on October 21
st
, while the winners will be unveiled virtually at Malaysia’s first and largest virtual expo on town planning and development, City Expo Malaysia 2021 this November 25
th
.

For more information about Placemaker Award ASEAN 2021, visit
www.placemakerawards.com
.

— end of press release —

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Positive. ASEAN+3’s 23rd meeting has just concluded with a joint statement.

ASEAN+3 would be all of us in ASEAN plus China, Japan and Korea. It’s important that ASEAN members work together when it comes to finance matters. It’s even more important and effective if we could have the participation from China, Japan and Korea.

Building resilience meant a stronger partnership and this is no longer the time to strike it out on our own. Just look at all the economic groupings in the world and we suddenly realise the need for balance because there’s so little which one country could do.

Below should be a positive news. ASEAN Finance Ministers and Central Bank Governors together with their counterparts from China, Japan and Korea have just concluded the 23rd meeting and I think the progressiveness of measures taken are still ongoing. Please do read the full joint statement below. It was sent to us
by AMRO. (click here to know them)

— start of Joint Statement from AFMGM + 3 —

Introduction

1. We, the Finance Ministers and Central Bank Governors of ASEAN, China, Japan and Korea (ASEAN+3), convened our 23
rd
meeting under the co-chairmanship of H.E. Dinh Tien Dung, Minister of Finance of the Socialist Republic of Viet Nam, H.E. Le Minh Hung, Governor of the State Bank of Viet Nam, H.E. Aso Taro, Deputy Prime Minister and Minister of Finance of Japan and H.E. Kuroda Haruhiko, Governor of the Bank of Japan. The meeting was held in virtual format given the extraordinary circumstances due to the COVID-19 pandemic. The President of the Asian Development Bank (ADB), the Director of the ASEAN+3 Macroeconomic Research Office (AMRO), the Secretary-General of ASEAN, and the Director of the Regional Office for Asia and the Pacific of the International Monetary Fund (IMF) were also present at our meeting.

2. We exchanged views on the current developments and outlook for the global and regional economies, as well as policy responses to risks and challenges under the COVID-19 pandemic. We also reviewed the progress of regional financial cooperation achieved since our last meeting in Nadi, Fiji in May 2019. We acknowledged that the progress achieved under the ASEAN+3 Finance Process over the past years has significantly contributed to building the economic and financial resilience of the region against negative shocks. The importance of regional financial cooperation is further underscored while our region is facing new challenges due to the COVID-19 pandemic. Against this backdrop, we agreed to continue working together to further enhance regional economic and financial stability, including through the Chiang Mai Initiative Multilateralisation (CMIM), AMRO, and Asian Bond Markets Initiative (ABMI), as well as Strategic Directions of ASEAN+3 Finance Process.

II. Recent Economic and Financial Development in the Region

3. The COVID-19 pandemic has taken a heavy toll on human lives globally and affected our economies. We implemented necessary containment measures to control the transmission of the virus while this unavoidably impacted economic activity. With the global economy increasingly interconnected, the disruptions to global supply chains and the challenges faced by many industries as a result of the pandemic have demonstrated the importance of ensuring the resilience of our economies to shocks. We moved swiftly to mitigate the impact of the pandemic by deploying extraordinary measures in the forms of targeted fiscal, monetary and credit support to households and corporates, and accorded regulatory forbearance, as well as liquidity support, to the financial system.

4. Our efforts to contain the pandemic have enabled us to gradually lift restrictions on economic activities, depending on the pandemic situation of respective economies. Economic growth is projected to fall sharply for many economies this year, but we expect our economies to rebound going forward. While the outlook remains uncertain this year, we welcome the green shoots of recovery in our economies. Meanwhile, we will remain vigilant to the continued downside risks on the horizon given the uncertain trajectory of the COVID-19 pandemic.

5. We are taking steps to reduce vulnerabilities to these risks and are determined to continue to use all available policy tools to support the sustained recovery of our economies. We will carefully measure the appropriate timing of the exit from these pandemic measures in accordance with the economic and pandemic situation of each member, to avoid a cliff effect and safeguard growth and financial stability in the ASEAN+3 region. We will remain resolute in our commitment to uphold an open and rules-based multilateral trade and investment system, and strengthen regional integration and cooperation.

III. Strengthening Regional Financial Cooperation

Chiang Mai Initiative Multilateralisation (CMIM)

6. As this year marks the 10
th
anniversary of the original CMIM agreement, which came into effect in 2010, we appreciate the members’ tireless efforts in upgrading the CMIM as a reliable self-help mechanism in the ASEAN+3 region, and establishing it as an important component in the global financial safety net. In this regard, we are pleased with the historical achievements reached at today’s meeting, which will help further enhance the relevance as well as operational readiness of the CMIM.

7. We commend the Deputies’ efforts to conclude the Package Agreement in Xiamen, China in December 2019. This is a milestone achievement that has enhanced the value of CMIM to its members and improved the CMIM’s operational readiness. Under the Package Agreement, members agreed to (i) increase the IMF De-Linked Portion from 30% to 40% (ii) institutionalize voluntary and demand driven, for both requesting and providing parties, local currency contributions in the CMIM, both of which were included in the ad hoc review of the CMIM

Agreement this year, and (iii) clarify the CMIM Conditionality Framework for the IMF De-linked Portion to enable the smooth implementation of the CMIM Arrangement.

8. We welcome the amended CMIM Agreement and CMIM Operational Guidelines (OGs), which entered into force on 23 June 2020 building upon the first Periodic Review. We also welcome the timely conclusion of the ad hoc review of the CMIM Agreement and approve the Agreement to Amend the CMIM Agreement (the “Agreement”). We aim to complete the signing and entry into force of the Agreement, by the end of 2021 at the latest, when the LIBOR reform is expected to be completed, and task the Deputies to update the OGs to reflect the revised Agreement.

9. We welcome the completion of the CMIM Conditionality Framework, following the Deputies’ endorsement of the Technical Guidance (TG). This TG will guide CMIM members, supported by AMRO, in formulating conditionality for the IMF De-Linked Portion. The TG for the IMF Linked Portion ensures an independent CMIM’s decision making process with AMRO’s support, while clarifying the operational mechanism for smooth and swift cooperation and coordination between AMRO and IMF during times of crises, to avoid excessive burden on the requesting country.

10. We welcome the successful completion of the 10
th
Test Run last year, involving an actual fund transfer. We believe that the proposed 11
th
Test Run this year will help enhance our understanding of the various operational risks and deepen common understanding among members. Going forward, we task the Deputies to continue to enhance the operational readiness of the CMIM and request AMRO to provide valuable insights and inputs to members’ discussions.

ASEAN+3 Macroeconomic Research Office (AMRO)

11. In the face of the COVID-19 pandemic, we recognize the ongoing need for a stronger and more capable AMRO as a “trusted family doctor” to support ASEAN+3 members. We commend AMRO’s timely analyses and updates on the impact of the pandemic on our region, which have served as valuable references for our own policymaking. We look forward to AMRO’s continued support to members in safeguarding macroeconomic and financial stability of the region.

12. In this regard, we welcome the new Medium-term Implementation Plan (MTIP): 2020-2024 as endorsed by the Deputies. We encourage AMRO to leverage its regional focus and comparative advantages, and support AMRO in implementing the new MTIP. We expect AMRO to continue to recalibrate its work plan, and to strengthen its surveillance capabilities, taking into account the impact of COVID-19 in order to strengthen its support to members. We appreciate AMRO’s efforts to introduce an Integrated Evaluation Cycle to establish itself as a results-based organization and look forward to its implementation.

13. We welcome the significant progress AMRO has made in the past few years in enhancing its macroeconomic surveillance capacity, in particular, the enhancement of the Economic Review and Policy Dialogue (ERPD) Matrix framework and its use in AMRO’s regular surveillance work. We also welcome the use of the ERPD Matrix Scorecard as a qualification reference to access the CMIM-Precautionary Line. In this regard, we look forward to the introduction of policy and review function on pilot basis to enhance the governance of the surveillance process and support for CMIM program. We expect AMRO to leverage its regional presence and expertise to develop its institutional views on key policy issues including capital flows management measures (CFMs) and macroprudential policy measures (MPMs), and to represent the region in expressing these perspectives in various fora.

14. We appreciate AMRO’s contributions to the enhanced operational readiness of the CMIM. We commend AMRO for providing technical assistance (TA) to support members’ capacity building and welcome AMRO’s efforts to further expand the scope of the TA. We call for AMRO to strengthen its institutional governance, and ensure fiscal prudence and sustainability in its operations. We recognize AMRO’s progress in raising its profile, and encourage AMRO to further enhance its visibility and continue to actively forge synergies with peer institutions.

15. We commend AMRO’s senior management team, led by Director, Mr. Doi Toshinori, for its strong leadership in advancing AMRO’s development. The new senior management team has moved quickly, and effectively adjusted its activities to better support ASEAN+3 members in these turbulent times. We encourage AMRO to continue to do so and express our confidence in AMRO’s ability to fulfill its mandate.

Asian Bond Markets Initiatives (ABMI)

16. We acknowledge the continuous progress under the ABMI in line with the ABMI Medium-Term Road Map 2019-2022. The ABMI continues to foster the development of local currency bond markets to mitigate currency and maturity mismatches and to mobilize the region’s savings to finance long-term investment across the region.

17. We commend the sustained efforts by the Credit Guarantee and Investment Facility (CGIF) to support infrastructure financing, including the Infrastructure Investors Partnership (IIP) study. We encourage the CGIF to utilize the findings from the study to explore innovative ways to further promote regional infrastructure financing and local currency bond market development. We welcome the commencement of a new TA project to promote local currency green bonds to meet the region’s infrastructure needs as well as the commencement of a new TA project aimed at improving the usefulness of AsianBondsOnline (ABO). We acknowledge the steady progress being made in pursuit of market integration under the ASEAN+3 Bond Market Forum (ABMF). We note the publication of “Next Steps for ASEAN+3 Central Securities Depository and Real- Time Gross Settlement Linkages” by the Cross-Border Settlement Infrastructure Forum (CSIF) and commend collaborative efforts by the CSIF and the Asia Prime Collateral Forum (APCF) to promote cross-border collateral usage in the region. We look forward to the continuous capacity- building support to recipient countries by the Technical Assistance Coordination Team (TACT).

ASEAN+3 Financial Cooperation in Disaster Risk Financing and Insurance

18. We continue to support the efforts of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) in strengthening the financial resilience of ASEAN member countries against climate and disaster risks, with support from the ASEAN Secretariat and the World Bank. We welcome the progress towards the operationalization of the catastrophe risk insurance pool for Lao PDR and Myanmar and the establishment of the technical working group on Public Asset Financial Protection Program to expand coverage to other ASEAN member countries. We welcome remaining ASEAN+3 member countries to join SEADRIF, and encourage donor partners beyond ASEAN+3 region to support this initiative.

IV. Strategic Directions of the ASEAN+3 Finance Process

19. We welcome the continuing progress under “Strategic Directions of ASEAN+3 Finance Process” and “Recommendation on Enhancing Effectiveness and Efficiency of ASEAN+3 Finance Process”, which would lay a foundation for us to further deepen and broaden ASEAN+3 financial cooperation towards a more resilient, inclusive and integrated region.

20. In this regard, we welcome the establishment of five Study Groups (SGs) to explore potential areas for new initiatives and note the progress indicated in the reports submitted for this meeting, respectively on “Local Currency Usage Promotion in ASEAN+3” (SG1), “Infrastructure Financing” (SG2), “Instruments for Macro-critical Structural Issues” (SG3), “Strengthening Financial Resilience against Climate and Natural Disasters” (SG4) and “Enhancing Policy Coordination to Harness Benefit of Technological Advancements While Minimizing Risks” (SG5). We look forward to further discussions building upon the reports, in order to explore new initiatives to promote the financial cooperation.

21. We are pleased with the introduction of thematic discussions in the ERPD session to encourage lively and timely exchange of views among the members. We look forward to making further efforts to enhance the effectiveness and efficiency of the ASEAN+3 Finance Process. To this end, we encourage AMRO to further strengthen its support to the ASEAN+3 Finance Process, including supporting members to develop and manage the ASEAN+3 Online Repository.

V. Conclusion

22. We express our appreciation to the governments of Viet Nam and Japan for their excellent arrangements as the Co-chairs of the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Process in 2020, particularly amid a challenging environment. We look forward to our next meeting in Tbilisi, Georgia in 2021. Brunei Darussalam and Republic of Korea will be the Co-chairs of the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Process in 2021.

— end of Joint Statement —

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Asia Halal Brand Awards 2019: The Benchmark for Ultimate Branding in the Halal Industry.

I was honoured to have been invited to the prestigious Asia Halal Brand Awards 2019 (AHBA) in Shangri-la Hotel, Kuala Lumpur. I could see it was a night to remember for the winners of AHBA 2019. The award winners were represented by their top managements and this showed the importance of the award to them in their quest for higher recognition by the market. All of us know that value is not equal to price. Value determines the price. Branding usually determines the Value.  Happy reading and understanding about AHBA 2019.

Press Release:
“ASIA HALAL BRAND AWARDS 2019 Sets The Benchmark For Ultimate Branding In The Halal Industry”

KUALA LUMPUR, 6 December 2019
– Armani Media Sdn Bhd (Armani Media), publisher of Entrepreneur Insight, remains committed to honour successful entrepreneurs and top companies related to the halal sector at its
Asia Halal Brand Awards 2019 (AHBA) Gala Night.

Supported and endorsed by the Department of Islamic Development Malaysia (JAKIM), Halal Industry Development Corporation (HIDC) and Ministry of Entrepreneurship Development, the regional award this year received 488 nominations via its website,
http://www.ahba.asia
,
when it closed in mid-November.

To maintain the high standards of judging for AHBA 2019, its panel of judges comprised industry practitioners;

1. Dato’ Redzuawan bin Ismail (Chef Wan)
(Malaysian Celebrity Chef, television host, actor, restauranteur and entrepreneur.)

2. Mohd Asri bin Abdullah
(Principle Assistant Director of Malaysia Halal Council Secretariat Dept of Islamic Development Malaysia [JAKIM])

3. Hj. Muhamad Amin Fahmi Bin Solahuddin
  (Head of International Relations and Trade Bureau, Malaysian Islamic Chamber of Commerce [MICC])

4. Hairol Ariffein Sahari
(CEO of Halal Industry Development Corporation [HDC])

5. Dr. H. Sapta Nirwandar, SE. DESS., DESS
  (Indonesia Halal Lifestyle Center)

6. Dr. Muhamad Shirwan Abdullah Sani
  (Head of Laboratory of International Institute for Halal Research and Training [MICC])

After going through a stringent process,
Armani Media founder Dato’ KK Chua said 5
8
winners were selected.
They are grouped under the following categories:

? Promising Brands for companies which have been established two to five years with annual revenue of RM1 million to RM5 million;

? Established Brands for six to nine years’ establishment with annual revenue of RM5 million to RM20 million.

? Regional Brands whose companies have been around more than five years with annual revenue of RM20million to RM50mil. They must also be present in at least two foreign markets.

? Heritage Brands, whose organisations have been set up over 10 years with annual revenue in excess of RM30 million.

Datuk Chua added
, “Halal Industry is worth more than USD3 trillion. The best differentiation is through branding. Without proper branding, your company will cease to stand out. We are more than happy to be working with JAKIM, HIDC
, MED
and other related bodies to promote the growth of the halal industry and its brands not only in Malaysia but also globally.”

YB Datuk Seri Mohd Redzuan Yusof, Minister of Entrepreneurship Development, the Guest of Honour, applauded Armani Media for its continued efforts to help raise the awareness for halal brands and its high-quality standards through its regional award.

“I wish to congratulate all the winners of Asia Halal Brand Awards. I must also inform that the Ministry of Entrepreneurship Development has been mandated by the government to sphere head the development to the halal industry for the global halal market. And for that, I wish to congratulate all the winners of Asia Halal Brand Awards on this impressive achievement.”,
said YB Datuk Seri Mohd Redzuan Yusof.

Full list of winners for AHBA 2019 as per attached.

— end of press release —

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Asia Pacific Property Awards – Malaysian winners

Everyone loves to win awards. Developers too. Recently, the Asia Pacific Property Awards night was held in Kuala Lumpur Malaysia. The award winners would be representing the region to compete against the winners from all other regions to find the ultimate winners in the World’s Best category. If history were to repeat itself, then Asian winners will be winning big in the World’s Best Awards night. For some of us who must and want to buy developments from these winners, I have cut and pasted Malaysian winners here. Take a look. Who knows, the property you booked recently was one of the winners?

Best Architecture Multiple Residence Asia Pacific

The Court Service Apartment,

Central Residence @ Suria SG. Besi, KL. by Yuk Tung Land Sdn Bhd

Best Commercial High-rise Development

Asia Pacific

Radia Bukit Jelutong by Sime Darby Sunrise Development Sdn Bhd

Best Commercial Renovation/Redevelopment

Asia Pacific

Angkasa Raya by UEM Land Holdings Berhad

Best Development Multiple Units Asia Pacific

16 Quartz by Mitraland Group

Best Landscape Architecture Asia Pacific

Damansara Foresta by Land & General Berhad

Best Leisure Development Asia Pacific

Elemen @ Genting Highlands by NCT Group

The Safe Home Award Asia Pacific

Tiara Park Homes by Kueen Lai Villa Sdn Bhd

The full report can be read here:  http://www.propertyguru.com.my/property-news/2014/5/12509/winners-revealed-from-asia-pacific-property-awards

written on 10 May 2014

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2018 PropertyGuru Asia Property Awards (Singapore) nominations open

I have often been asked the question of whether award winning projects are worth more in the future. I think it’s even more important to note the reason for these developers in winning such an award in the first place. If we want to buy into a new huge integrated project (with a long term wish for potential capital appreciation), then perhaps awards related to ‘Best new township’ or even ‘Best integrated development’ would be much more relevant than Best Condo Design or even Top Developer award. So, yes I think property awards are important because it helps to differentiate the development from others. Here’s an upcoming one.

Press Release by PropertyGuru Singapore

All-new PropertyGuru Asia Property Awards (Singapore) 2018 nominations open, elects first female head judge

Competition for the country’s best developers embraces diversity in eighth year

New awards for outstanding industrial development, smart building, and reconstruction project

Lim Wenhui, partner at SPARK Architects, begins tenure as chairwoman of the judging panel

Premier real estate event of the year expects more than 300 guests at the annual gala dinner

SINGAPORE – 24 April 2018

Following the success of its very first stand-alone gala dinner last November, the PropertyGuru Asia Property Awards (Singapore), presented in 2018 by Kohler and supported by
PropertyGuru.com.sg
, Singapore’s No.1 property site, returns for its eighth annual edition to recognise the year’s most outstanding developers, projects and design.

Diversity is the recurring theme for this year’s Awards, with nearly 30 awards at stake, including honours for industrial development, smart building, reconstruction project, and Special Recognition in Public Facility. The categories are making their debut this year to acknowledge Singapore’s smart innovations, as well as its continued leadership within the Asia-Pacific region’s property sector.

Returning categories include six residential awards (luxury, private and executive condos), seven commercial awards (office, retail, hotel, mixed-use development), and eight design honours.

Nominations are now being accepted from the public until 10 August 2018. Entry submission closes one week later. For online submissions, visit:
AsiaPropertyAwards.com/nominations/

First-ever chairwoman

Another first for the competition is the recent election of Lim Wenhui, partner at SPARK Architects, as new chairwoman of the independent judging panel, taking over head judge duties from esteemed architect Mink Tan, who remains on the panel.

Having served previously as a judge for this tilt, Lim has more than 12 years of experience undertaking major national and international design and architectural projects for complex urban and master-planned developments.

On her historic election as first woman to lead the panel, she said: “I would like to thank Mink for the inspired way he led the awards process over the last few years and in particular his drive to develop diversity across the jury panel and categories of awards on offer prospective developers and design consultants. I will do my best to develop further Mink’s vision and I’d like to think that we can introduce new and broader range of skills across the jury to respond to the changing market conditions in this city.”

Remaking the city through technology

She cited Singapore’s innovations in technology and sustainability that coincide with its ongoing Smart Nation initiative to remake the city “are becoming key drivers for value in an industry that historically has been very slow to embrace change.”

“Developers are taking advantage of advances in telecommunications, artificial intelligence, virtual and augmented reality, and data analysis to reinvent, reimagine, and long established industry norms. They are also importantly taking seriously customers desire to live increasingly more sustainable lives.

“This is very exciting and hope that the process of award categories, project selection, and the judging process is enabled to reflect this change under my tenure,” she added.

The awards programme will host its annual black-tie gala dinner once again at the Sands Expo and Convention Centre at Marina Bay Sands, where around 300 of the industry’s leading names and senior figures will converge on Friday, 12 October, to reward excellence in the property industry.

Consumer sentiment in Singapore

Hari V. Krishnan, CEO, PropertyGuru Group, said: “As Singapore continues to lead the region in quality real estate, green and sustainable building, we believe that the PropertyGuru Asia Property Awards will shine a light on outstanding new projects and design as the industry looks to recover in 2018.
Consumer sentiment in Singapore remains stable
 with more Singaporeans satisfied with the market despite affordability concerns, based on our latest market survey. Because of its fair and transparent judging system, the Awards has proven to be a great platform for the country’s best developers to promote their latest offerings in the residential and commercial segments.”

The 2018 PropertyGuru Asia Property Awards (Singpore) gala dinner is supported by platinum sponsor Kohler; official portal partner
PropertyGuru.com.sg
, Singapore’s No. 1 property site; media partner PropertyGuru Property Report, Asia’s leading luxury real estate, architecture and design publication; and official supervisor BDO, the world’s fifth largest auditing and accountancy firm, led in Singapore by executive director Roger Loo and senior manager Jan WeidLich.

Main category winners in Singapore will advance to the 8
th
 PropertyGuru Asia Property Awards Grand Final to be hosted in Thailand. The finale ceremony is a collocated event of the two-day PropertyGuru Asia Real Estate Summit at The Athenee Hotel, Bangkok on 8-9 November 2018.

— end of press release —

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Asia Property Awards (Malaysia) 2017’s Race for the Gold Officially Begins

This is a Press Release by PropertyGuru for the 4th annual PropertyGuru Property Awards (Malaysia)

The fourth annual PropertyGuru Asia Property Awards (Malaysia), backed by the country’s No. 1 property website
PropertyGuru.com.my
, have recently been launched to celebrate the industry’s latest innovations in real estate development, design and sustainability.

Presented by Kohler in 2017, the acclaimed international event is organised by PropertyGuru Group, Asia’s leading online property group. Previous winners, including 2016 Best Developer (South East Asia) winner Sime Darby Property, are expected to join again this year along with niche developers and up-and-coming players in the real estate sector.

Known for having a credible, transparent, and free-to-enter awards system, the Asia Property Awards (Malaysia) reward the country’s finest property developers and projects located in the established and emerging property markets of Kuala Lumpur, Penang, Ipoh, Melaka, Kota Kinabalu and Iskandar. The award categories are divided into three sections, namely Developer, Development and Design.

Building on the extraordinary success of last year’s programme that was attended by nearly 400 guests, the 2017 edition introduces a revamped awards scheme filled with destination-focused categories to reflect the growing importance of Malaysia’s most exciting investment destinations and economic zones.

In addition, new categories have been added for Best Mass Market Development (Landed) and Best Mass Market Development (Condo) to represent the evolving property landscape and changing consumer preferences in Malaysia.

According to a recent study conducted by PropertyGuru.com.my, the top considerations of today’s Malaysian consumers are price, location and size of a property. The study also reveals that majority of consumers (around 60 percent) intend to purchase new homes – if affordability and design requirements are met.

Prem Kumar, executive director of Jones Lang Wootton and returning chairman of the judging panel, believes that the annual Asia Property Awards (Malaysia) present an excellent opportunity for leaders of the industry to commit to a wider agenda of trendsetting, innovation and sustainability, at a time when the local property market undergoes further consolidation following muted or flat growth in the last two years.

“The Awards elevate the property sector in Malaysia in a way that they promote an international mindset by setting benchmarks comparable to other advanced economies and more mature markets,” Kumar says. “I would say that the culture of benchmarking is also significant as Malaysia aims to achieve a ‘developed nation’ status by year 2020.”

Organisers are now calling on Malaysian developers as well as real estate agents, architects, interior designers, construction companies, suppliers and the general public to submit their nominations online via AsiaPropertyAwards.com/nominations/. Deadline for nominations is on Friday, 9 June 2017, and entries submission are due on Friday, 16 June 2017.

BDO, the world’s fifth largest accounting and auditing firm, has been appointed once again as official judging supervisor.

Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards, says: “We are delighted to hold the fourth edition of the Asia Property Awards in Malaysia. Despite experiencing a challenging last couple of years, the local real estate scene has retained a solid reputation for excellence, as we have witnessed during the Asia Property Awards 2016 grand finals when Malaysia claimed the Best Developer (South East Asia) title for the first time ever.”

He adds: “What the Asia Property Awards give local developers is a credible and internationally-recognised platform to aim high and continue producing world-class developments designed for Malaysian property seekers. The Awards are truly a showcase of what Malaysia real estate has to offer.”

Hari V. Krishnan, CEO of PropertyGuru Group, comments on the company’s commitment to the Asia Property Awards: “As a ‘hyper-growth’ technology company, a core tenet of PropertyGuru Group’s culture is to pursue greatness, which is mirrored by the exceptional quality of entrants in the Asia Property Awards year after year.

“Our brand promise is to help people make confident property decisions. The Awards platform is a key part of our offline solution, and allows consumers to identify the highest quality real estate developers in the region and thus be more confident in their property decisions.”

The independent judging panel led by Kumar will reveal the official shortlist of nominees, comprising one Winner and up to four Highly Commended in each category, in the third week of July 2017. The black-tie gala dinner is set to take place on Thursday, 17 August 2017, once again at the InterContinental Kuala Lumpur, the official hotel venue of the Awards.

The gala dinner begins with a two-hour international cocktail networking reception, followed by a lavish four-course dinner, and the awards ceremony proper. Previous distinguished guests include Yang Amat Mulia Tunku Seri Menanti Tunku Ali Redhauddin ibni Tuanku Muhriz, chairman of PropertyGuru Malaysia, and keynote speaker Yang Berhormat Datuk Chua Tee Yong, the Deputy Minister of the Ministry of International Trade and Industry, who both attended the 2016 event.

A day before the black-tie gala dinner, the organisers will gather the country’s senior industry leaders to share insights and reflect on the local property market at the PropertyGuru Malaysia Real Estate Summit, a full-day networking conference that will feature regional and global experts.

Both the Summit and Gala Dinner receive extensive coverage through influential media outfits including Asia’s leading luxury real estate, architecture and design publication Property Report, as well as PropertyGuru Group’s market-leading property portals and affiliate websites used by more than 23 million property seekers in Singapore, Thailand, Indonesia, Malaysia and Vietnam.

The top winners from Malaysia will compete for regional accolades at the grand finals of the Asia Property Awards held annually in Singapore every November, opening up their businesses to new audiences around the region.

More information and eligibility rules of the Asia Property Awards (Malaysia) 2017 are available on the official website: AsiaPropertyAwards.com/sea-property-awards/

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7th PropertyGuru Asia Property Awards (Malaysia). Time for nominations!

I personally believe developers should aim at building something of good quality for the buyers. The cream of the crop (developers) would thus have to stand out from all the rest. This is where property awards come in. Now, let’s look at the what’s in progress for the 7th PropertyGuru Asia Property Awards (Malaysia) for which kopiandproperty.com is an official media partner. Nominations are ongoing and will end by 21st February 2020. If you are a developer and you know your development is a potential winner, take action now.

Press Release by PropertyGuru Asia Property Awards (Malaysia)

7th PropertyGuru Asia Property Awards (Malaysia)

GENERAL PUBLIC ENJOINED TO PICK OUT THE NEXT WAVE OF STELLAR MALAYSIAN PROPERTY DEVELOPERS, DESIGNS AND PROJECTS

Public nominations last through 21 February 2020, ahead of the exclusive black-tie gala dinner set for 10 April
Industrial property expected to be focal point of annual awards gala
More than 500 guests to come together at the historic Majestic Hotel Kuala Lumpur

Kuala Lumpur, Malaysia –– 20 January 2020
The PropertyGuru Asia Property Awards (Malaysia), presented by Kohler, reiterated the call for nominations to its seventh edition, ahead of the exclusive awards ceremony and black-tie gala dinner on Friday, 10 April 2020, at the Majestic Hotel Kuala Lumpur.

Malaysia’s premier real estate awards programme enjoins the general public to submit their candidates for the finest developers, developments and design in the country, representing not only Klang Valley but also the dynamic regions of Penang and Iskandar. Public nominations, which have been open since 1 December, will close on 21 February.

The 7th PropertyGuru Asia Property Awards (Malaysia) follows a successful event last year that conferred trophies on 38 developers and projects and handed out 25 Highly Commended citations across 28 categories.

The 2020 PropertyGuru Asia Property Awards (Malaysia) is expected to highlight industrial and logistic categories once more as the segments become brighter spots in the country’s property sector. With yields of nine to 10 percent, industrial properties are set to shine as Malaysia solidifies into a logistics hub in the region.

One of the most noteworthy categories at the 6th edition of the Awards last year was the Special Recognition for Industrial/Logistic Development, bestowed on the winning properties of Sendayan TechValley, Area Logistics Hub @ Ampang, KL, and i-Park@Indahpura.

Well-connected, sprawling projects are also expected to figure prominently in this year’s selection of awardees, following transit-oriented developer MRCB Land’s win as Best Developer at the 2019 PropertyGuru Asia Property Awards (Malaysia). Tuan Hizwan, political secretary to the Malaysian housing minister, was in attendance last year, delivering a keynote address encouraging developers to build more mixed-use and mass market properties.

Other contended categories at the 2019 Awards included Best Hotel Development, won by Four Seasons Place Kuala Lumpur. The property went on to win the title’s regional equivalent at the 14th PropertyGuru Asia Property Awards Grand Final in November in Bangkok, Thailand.

Key dates for the 2020 edition are:

1 December 2019 – Nominations and Entries Open

21 February 2020 – Nominations Close

28 February 2020 – Entries Close

9-20 March 2020 – Site Inspections

24 March 2020 – Final Judging

10 April 2020 – Gala Dinner and Awards Ceremony

The Majestic Hotel Kuala Lumpur returns as the venue of the 7th PropertyGuru Asia Property Awards (Malaysia). More than 500 C-level and senior industry figures will come together at the historic hotel, a heritage site in Malaysia.

Prem Kumar, executive director at Jones Lang Wootton, will resume his duties as chairperson of the PropertyGuru Asia Property Awards (Malaysia). As such, he will lead an independent panel of 11 industry experts in deliberations.

The 2020 PropertyGuru Asia Property Awards (Malaysia) features the support of platinum sponsor Kohler; official portal partner PropertyGuru.com.my; official magazine PropertyGuru Property Report; and official supervisor BDO, one of the world’s largest auditing and accounting firms.

For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

– END
 of press release –

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Asia Property Market Sentiment Survey: 2018 peak again

A potential peak into the future? According to iProperty.com iProperty.com Asia Property Market Sentiment Survey (H2) 2015, buyers are more interested to buy only one or two years onwards. This meant that recovery in property transaction numbers would perhaps start in 2016 and may peak again in 2018. The survey polled over 15,000 respondents and 43% were from Malaysia. The majority were between 21 and 30 years old. As everyone would have have, 2015 is to be ignored as this is an extremely slow year, especially for new launches. Huge stocks from launches remain unsold. Read here:
More below RM500k units but unsold units at 78 percent

The percentage of respondents saying they will buy a property within less than 12 months have fallen from 58% six months ago to 50 percent today. In fact the numbers of pre-GST and post-GST showed that post-GST, the percentage of people looking to buy has also increased. For example, those who are looking to purchase after two years have also increased to 16% post-GST, from 12% pre-GST. According to the survey, the favourite would be for properties priced from below RM500,000 to RM1 million and condominiums is the favourite choice.
(Actually, there are not many landed properties within this price range, in areas that the buyers may love as their primary choice)

iProperty.com’s CEO Georg Chmiel also pointed out that the Malaysian real estate is very affordable even within the ASEAN region. He said the this is because of the average property price being RM376,200 for a 900 sq ft property and a with a gross development product per capita average of RM63,403. This meant the purchasing power parity for property value to income ratio is 5.93.
(Of course, some would point this out as unaffordable but I think everyone should just buy within their affordability and not what everyone wants to buy)
He said, “Even if property prices (in Malaysia) were to double, they will still be affordable. From an outside perspective, you can spend a lot in Hong Kong and Singapore, or spend a fraction in Malaysia.”

According to the survey, many respondents are now having a wait-and-see attitude. This corresponds with what people in the industry are saying today. We must however take note that this has got nothing to do with demand. In terms of actual need for homes, it is very conservative to say that the property market has a long way to go before reaching the levels of developed nations. Just look at the demographics of Malaysia currently.
As for those adopting a wait-and-see attitude, perhaps a better attitude may be the view-and-offer one. View the properties that you wanted to buy, offer them a price you are willing to pay. Who knows, you may just get it. Happy reading and understanding that surveys are great for us to know what the majority thinks. However, the majority has never been that minority group of top wealthy in all countries. That’s the reason why the top 20 percent normally holds the 80 percent of the wealth.

written on 14 Nov 2015

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