It’s too expensive, stop buying properties.

In an article in malaymailonline.com not too long ago, there was an article about millennials having no plans to buy properties but prefers to spend ion vacations, handphones and other creature comforts instead. First of all, who are these millennials? Actually, they were once known as Gen-Y and of course still known as Gen-Y by many. As per Wikipedia.org, Strauss and Howe use 1982 as the Millennials’ starting birth year and 2004 as the last birth year. Thus, these millennials are today aged between 14 – 34 years old. Since one typically finishes his degree only at the age of 24, including 5 years of working experience and some savings, they may be ready to buy at the age of 29. True?

The article in MalayMail quoted many examples of the thoughts of these millennials. It said many within this age group is not able to afford a home due toothier lifestyle of changing handphones every few months to keep up with trends. I seriously do not think so lah. iPhone buyers changes phones only upon every new model. That’s 12 months. For the majority of the rest owning a cheaper Android models, I think they would try to use their phone as long as possible. However, I have to agree that this would also be the group who would spend RM16 just for a cup of ice-blended cappuccino. Perhaps weekly. That’s RM832 per year.

The article said that these millennials financial priorities may change once they hit their 30s. They quoted Association of Valuers, Property Managers, Estate Agents and Property Consultant (PEPS) committee member James Wong who said, “People my age, when we were in that generation, there were fewer distractions and our propensity to save was also higher but then the prices of properties were also much lower then.” Maybe true but not necessarily for all because I think I belong to the minority among those who bought my first property at the age of 26. Perhaps many really did buy a property when they reach 30.

Another reason that these millennials will not venture is because the returns are much lower than what it was 20 years ago. Seriously, I do not believe so. In terms of returns, I would definitely rank property as a must have. Else, we better be really BIG with other investments. Property is the only one where leverage is possible. Capital gains on property is also said to be low, perhaps 2 to 3 percent over the next five years. Seriously, this is a gain on top of the property price. It’s not a gain based on our savings.

So, since it’s too expensive, let’s stop buying properties? Honestly, if every millennial were to stop buying property, the prices would soften, for a little while. However, among these millennials, there are those who are much more savvier than the rest. When they see property prices dropping, they would buy and the number of these millennials who do not own a home is far higher than those who already has a home. Seriously, the advantages far outweigh the disadvantages as long as one did not buy with wrong reasons. Millennials love to follow trends. There’s only one trend for property prices; up. The only question is by how much. Happy believing.

written on 7 Mar 2016

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It’s Your life. Failure to plan is planning to fail. Part 1

I always believe investment is the only real key to financial safety. However, are you covered during this journey towards financial safety? Note, I am not even talking about financial success or financial freedom. Thus, I have some of my money in FD, a little bit in unit trust, a tiny bit in my own version of blue chip stocks, some properties and of course to protect my wealth I have insurance. A complete set of my life planning consists of medical insurance, illness insurance, whole life insurance, education, lastly savingzs and investment. In short, refer to the chart below. Today, let’s start with Medical Insurance.

Medical Insurance. You can be earning RM5,000 per month, have a healthy savings of 50% of your income every month. Yet, if you suddenly found out that you have kidney stones and needed a few ESWL treatments, it may cost you up to RM20,000 depending on which hospital you go to. This has just eaten up your savings for 8 months. However, if you have invested in a good medical insurance plan, at most it will cost you one month’s savings and you can still claim if you are hospitalized again. You only pay for the hospitalization charges such as government tax, uncovered items and core insurance on your medical card. Of course, if the insurance coverage is insufficient, you would need to fork out the balance. For medical insurance, you enjoy the medical benefits but of course the payment goes to the doctor directly and not to you.

Yes, it is true that majority of us would have a medical card given to us by our companies but please be reminded that should you stop working, the card automatically lapses. The older you buy, the higher premium that you would need to pay. Personally, besides my company’s medical card, I have also signed up for another medical card. I feel that this is an investment to cover myself financially. No interest earned but ‘touch wood’, if something were to happen, it will cover majority if not the whole bill from the hospital.

Part 1 – Jointly written by Crystal Teh and charles on 5 March 2014. Part – 2 to follow in a few days’ time.

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protect your wealth, always

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J J Cafe, Ipoh

I had wanted to bring my wife and baby daughter here the day before. However, my baby daughter decided to sleep through the tea break time, so the plan was cancelled. This morning, as soon as she woke up from her morning nap at 11am, we came. JJ Cafe, Ipoh. First of all, for those who does not know, JJ Cafe is related to the extremely famous JJ Swiss Roll in Ipoh. This cafe however is not selling swiss roll which I like. You should diversify your business.

JJ Cafe looks very cozy. It was 1120am when we arrived and we virtually had the whole cafe to us. The few staffs were friendly and I think after a while, the JJ family came and enjoyed themselves to some stuff at a table next to us. Looks like a close knit family. 🙂   I order the latte as usual as well as a Rum Cheesecake as well as a Hazelnut Crepe. Total came to RM27. Acceptable. I have never been to any cafe where I could order RUM CHEESECAKE. The Hazelnut Cafe does not have sufficient hazelnut aroma to it but then again I think it’s tough to have a lot of hazelnut aroma. I rate this, average. The rum cheesecake has sufficient rum taste towards the very end; just nice. The latte, I have to say lacked the sufficient coffee taste that I have grown to like from the many specialty cafes in the market today.

For the latte, there are lots of other cafes. However, you must not miss this cafe because I feel this is indeed a very well thought of cafe. It’s not open at night though perhaps because there are no other shops on the same row which are open at night. If only more of the shops are open, I am very sure JJ Cafe will open in the evening too. Oh yeah, especially recommended for a family of three, with your baby of around 12 months. Your baby would enjoy the crawling on the sofa and the huge teddy bear.

written on 26 Jan 2014

Please enjoy other
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Jab and cash. Get jabbed and claim RM4,200 worth of cash. Amazing.

By the way, I disagree that the Covid-19 jab has to come to some cash offers or lucky draws or whatever. Just as those people who refused Covid-19 vaccination said they have their rights, I also have my rights. Their right is not to get jabbed because they have some beliefs. They are FREE not to be jabbed but please do not come near me.

I have a simple request for my right

My right? I have a simple one. I want to have the right to ONLY have dinner in restaurants where the staffs are vaccinated and all the customers are vaccinated. I want to shop in malls where all the mall workers are vaccinated and all the customers are vaccinated. I also only want to be exercising in gyms where the instructors and other gym members are vaccinated. My right is to feel safe.

Article in malaymail.com
    Covid-19: Schools in US state offer US$1,000 (RM4,200) bonus to vaccinated staff. The Henry county school district, southeast of the city of Atlanta, will make a US$1,000 payment to those of its nearly 6,000 employees who are fully vaccinated now or who will be vaccinated by September 30 with one dose of Johnson & Johnson’s vaccine or both doses from Pfizer or Moderna.  This money comes from a federal programme to curb the coronavirus in elementary and secondary schools.
Article in malaymail.com

Protect us first and we can protect everyone else

So, you guessed it, I do not think giving money to these people who has not gotten their jabs to go and get their jab is fair to all those who did their part without much fuss. Let’s not forget that once this is done, the next time there’s ever such a need, everyone would now be waiting for the reward before deciding whether or not to go ahead.

The money better give to the front-liners and volunteers

Volunteers are not paid. They have to pay everything just to help the nation and we want to give money to those who did nothing? They deserve money for doing nothing? We give them money, they do something and we are supposed to feel relieved that they would now get a jab and these people who refused to be jabbed should feel happy because they get extra money to spend just by getting a jab? What a special world we live in today.

Remember my rights yeah. This message is specially to the ones who does not want to get vaccinated. I am not asking you to give up your right of refusing the Covid-19 jab. I just want you to remember that I also have my rights and the world does not just revolve around your rights not to be jabbed. It also revolves around my right to feel safe for myself and my family and all other Malaysians who’s now vaccinated.  Thank you.

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Jakarta home prices dropped 18 percent quarter to quarter.
Actual article in ekonomi.bisnis.com – “Gawat! Harga Rumah di Jakarta Melorot Lebih Dari 18 Persen.”

Sometimes, title can be misleading

By the way, when we read just the title, it seems that home prices have dropped. However, we need to note that average transacted prices dropping can also be due to the fact that most of the transactions were for properties which are lower priced as well. So, it’s really important to go to the individual unit versus looking at just the average statistics which can be misleading too.

What if someone claims that property price has dropped 30 percent?

Another example, someone said, the price for this development has dropped 30 percent! Well, perhaps it’s true but for that particular unit simply because the owner was in financial distress. For all other owners within the same development but not in financial distress, none of them would want to sell their unit following the price of the financially distressed owner.

May also be due to auction case

This drop in price can also be due to the auction of that unit. Most of the time, potential buyers would only be interested with auction units if it’s 20-30 percent below market or more. The reason is because they could not enter those units to see the inside, thus higher discount is to cover any potential spending necessary for the unit once they become the owner for the unit.

Actual article in ekonomi.bisnis.com – “Gawat! Harga Rumah di Jakarta Melorot Lebih Dari 18 Persen.”
   Indonesia Property Watch (IPW) shared that the biggest decline in average house prices was not in Jakarata for quarter on quarter. It’s in Serang City, Banten and the decline was 19.6 percent.

There are areas where the average property price showed an increase instead of a decrease. For example, Tangerang where property pricres increased by 10.3%. Other cities showing an increasing trend include Depok City in West Java and Cilegon City in Banten. There are more areas experiencing negative price growth versus an increasing one. Please do read the
Actual article in ekonomi.bisnis.com – “Gawat! Harga Rumah di Jakarta Melorot Lebih Dari 18 Persen.”

Yes, property prices can drop. It has been proven in every market including Malaysia

I think this latest news about Jakarta property market does show that property prices could drop in some neighbourhoods if not all neighbourhoods. During the 1998 ASEAN Financial Crisis, the property prices in Malaysia dropped by double digits for one year. It would show a recovery after the financial crisis has passed and the economy starts to roar back into life.

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Jakarta’s emergency law to attract real estate investments

Two years ago, I was in Jakarta and I stayed in a condominium cum resort within the Jakarta city. As usual, I looked up the price of that condominium and I was extremely surprised at its affordability. When I checked, I realised that foreigners are not allowed to buy properties in Indonesia, unlike Malaysia, Singapore and even
Thailand
 with some restrictions. Of course some would tell you that you can buy via a company etc etc but let’s be very direct here, the answer is NO.

This may change though. Reported in Jakarta Post was a quote from Coordinating Minister for Political, Legal and Security Affairs Luhut Pandjaitan. He said, “But the era has changed now. The property sector needs a reform so we could attract foreign investment. Foreigners should be allowed to buy apartments – but not landed houses – even if they don’t hold Kitas (Indonesia’s residence permit).” He further added, “It is similar to that in Singapore.” Indonesia intend to issue an emergency law known as a perppu which will break an impasse of more than a decade in efforts to streamline unfriendly laws for foreigners to
purchase apartments in Indonesia.

Currently, nothing much has progressed because the basic stipulation under Indonesia’s 1960 Agrarian Law is that foreigners just cannot own homes in the country. The Indonesian constitution gives the President the right to issue a rule in lieu of law (perppu) if he determines that it is needed for the country. Once the President signs the perppu it is effective immediately and Parliament can either let it remain effective or end it within a year after the perppu is issued. This particular perppu is for a new rule allowing foreign investors to buy apartments. Luhut added that perppu is a normal practise. For example, in the US, it is called “presidential Act”.

So, how many are waiting to snap up properties in Jakarta? If my good friend who’s a famous real estate personality is right, there are a lot of investors into Jakarta when this perppu becomes valid. Let’s just wait till end of 2016 to see what happens. I would love to visit Jakarta again next year. Based on the price I saw 2 years ago, Jakarta properties are
definitely value for money
. The potential is however another thing altogether because this depends a lot on foreign interest. If we are buying because we want to sell to the local Indonesians in future, this is much tougher than in Malaysia because of the accessibility of mortgage loans and the income levels currently. Happy following the Jakarta property developments.

written on 7 July 2016

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Jalan Ipoh, yes, affordability still present.

The headquarter of the first company I joined was located along Japan Ipoh. On and off I would fly down from Penang to KL for meetings. That was 16 years ago. Then, I felt that the houses or even offices there were not that modern. In fact I felt the area was a little dated. Yes, even then I already felt so. Recently, theedgeproperty.com published a series of articles on Jalan Ipoh. Well, except for the newer project by YTL, the rest of the projects are considered the affordable ones.

It said that the average price per square foot (psf) of non-landed properties was slightly lower than RM400 and the average transacted price of a unit was RM435,000. (HEY, if you are looking for affordable high-rise, this is still available). In fact according to the report, the largest number of transactions were for properties between RM300,001 to RM400,000 price range (29%). This is then followed by the usual RM400,001 – RM500,000 range (22%).

When ever we look at average prices, always note that when an area is mature and there are not many new launchings, the price psf is unlikely to undergo a sudden huge change. Of course, there are also few available plots of empty land for sale too. The main reason why prices would increase would also have to be pushed up by new condo projects. In Jalan Ipoh, the main contributor would be YTL’s Sentul West. That’s a totally new level altogether compared to the older projects all along Japan Ipoh. The Maple in Sentul West had an average transacted price of RM1 million. Other cheaper but still very affordable in terms of location would be Villa Angsana (RM560,000), Sang Suria (RM553,000) and Rivercity Condominium (RM533,000).

Updated on 14 May 2016. Please refer image from propertyguru.com.my A few projects with prices ranging from RM350,000 to RM635,000. Not too bad for an area which is just a few kms away from KLCC. Personally, unless the maintenance has been good I would not recommend apartments which are older than 15 years. Reason is simple, if the maintenance has been good all these years, the prices would have also appreciated in tandem, except if the location is totally BAD which is not the case for Jalan Ipoh. Yes, the jams are likely to be bad but then again, there are really not many things we can do except to change the lifestyle a bit. OR, take the public transport.

So yes, another area where affordability is still present today. View a couple of units if you are in the market for a home. Chances are there would be those that meets your budget. Stay objective and buy accordingly. Happy searching for an affordable unit, especially during the current slowdown.

written on 21 June 2015 and updated on 14 May 2016.

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Jammed for an hour just to buy books?

My daughter finally went to sleep at 945pm. I left my home to go to the Big Bad Wolf book sale. Told my wife that I should be home before midnight. I arrived nearby MIECC at around 1020pm. After 35 minutes, I was NEARER to MIECC. I gave myself another 10 minutes. After 10 minutes, I was even nearer to MIECC and I decided it was already very late. A promise to my wife is a promise I must keep and I left for home. I estimated that it should be nothing more than 15 minutes and I would be inside the car park. Perhaps another 15 minutes to find a spot and 10 minutes to walk the distance to the exhibition hall? Total time needed to start walking around the Big Bad Wolf floor? Almost equal the time I need to travel to Ipoh from my home in Damansara Damai.

Honestly, why would people be willing to jam over an hour just to buy some books? I think that’s because they could see everyone is also trying to be there. I think it’s also because they believe the value is great since so many people are there or talking about it. I think they feel accomplished if they are also achieving something which so many people are so proud about. For example, buying a RM3 hardcover book? Refer to the image. Actually, this is the same thing for property. Remember just a few years ago when it was so hot? When the queues started much earlier and when there were part-time jobs as ‘queuer?’ Today, it’s a totally different situation. Demand from those who need a home? It is more, yet transactions are far lesser. Yes, the herd mentality affects everyone.

Am I still going to try one more time to spend a huge sum of money to buy an even bigger pile of books? Yes, I intend to try one more time. Would I be trying to buy an undervalued property during this current slow period? The answer is a firm, Yes. They say, ‘tough times do not last but tough people do’. Or another one is ‘when the goings get tough, the tough gets going.’ When it comes to property, perhaps the question is, ‘when the times go slow, do we start going faster?’ Wait-and-see or identify, view and offer? Worried about the future? Allow me to remind you again that having a home over our head is better than going home to just a rented room, even if we rented a master-bedroom. Please don’t ask when is the best time to buy. Happy buying more, I mean books.

written on 9 Dec 2015

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Japan allows 50,000 visitors to enter daily

I was in the Narita International Airport for over 11 hours a few weeks ago. I would love to just go outside the airport and take some photos but alas, I could not even venture into another terminal from the terminal I was supposed to transit from. Yea, that’s how strict they are and thus, I could just have a bowl of kakiage udon and just wait for my flight to Nashville, Tennessee. The bowl of kakiage udon was pretty good. Take a look at the photo.

How many is 50,000 visitors?

50,000 visitors x 365 days = 18,250,000.  That’s over 18 million visitors per year! It’s considered a lot until we look at 2019 and realised it was over 30 milllion visitors and Japan was supposed to achieve 40 million in 2020. At the moment though, visitors into Japan MUST buy a package tour with a guide. Moving forward, visitors STILL have to buy a package but they can opt not to have a guide. So, it does seem like the Japanese government have some ideas where you are since you are on a packaged tour.

Article in nst.com.my
   Tourists will be able to visit Japan from next week on package tours without a guide, Prime Minister Fumio Kishida said Wednesday, as the country moves to ease strict Covid-19 controls. From September 7, Japan will also raise its daily cap on the number of people allowed to enter the country to 50,000, Kishida told reporters.
Article in nst.com.my

The next focus would be Hong Kong

Everyone travelling into Hong Kong must undergo compulsory quarantine of 3 days in a quarantine hotel and another 4 days restricted movement control. While this seem like a mild one but the truth is, many events could not be held in Hong Kong. All these restrictions are also not helping Hong Kong which is supposed to be a world financial hub. Well, since Japan has also taken this step, perhaps the Hong Kong leadership is able to present a strong case very soon. I would love to travel to Hong Kong again soon.

Covid-19 has been around for a long time. It’s really time to move on.  I have even gotten Covid+ and recovered…
Here’s that story. (click here to read)

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JB is right after KL. Homes still too expensive.

Every time people ask me if Iskandar’s in trouble due to oversupply, my reply is the same. It depends on whether the oversupply is going to crash the market or is the demand growing at the same time as well. These are two very different things yeah.
Oversupply does not automatically lead to property bubble
 or crash unless the demand is not growing. We do not need to look too far, really. The oversupply situation in Malaysia did not suddenly happen just two weeks ago. There has been many numbers published about overhang units for at least a few years. If the oversupply immediately leads to property price crashing, then it should have happened earlier or possibly few months more? At the very same time, people without a home kept trying to tell people that they could

NOT get a home of their choice, yet.
If we need a home, just save money for one. I disagree with too many of these zero down-payment schemes because these may really crash the market.

Anyway, coming back to Iskandar. Two articles appeared alongside one another a few days ago. One talks about the potential of Iskandar. This sort of validated my answers to everyone that if the demand continues to grow, we should be doing just fine.
Here’s that full article in TheStar.
 Star Media Group Bhd managing director and chief executive officer Datuk Seri Wong Chun Wai shared,

“The influx of domestic and foreign investors will drive property demand here, especially in Iskandar Malaysia.” He added that Singapore is a great neighbour to have as this is also an attraction to some investors too.
 (Perhaps something like Hong Kong and Shen Zhen?)
 He also spoke about how the journey between KL – JB would be reduced to just 90 minutes when the HSR starts.
 (Breakfast in KL, lunch in JB and dinner in KL, anyone?)
 He believe Johor would become the next Klang Valley, with Johor Baru emerging as the second Kuala Lumpur.
(Yes, I believe the same too though timeline wise, may not happen within the next few years yet)
Full article here.

Second article also related to what I spoke about in my first paragraph. There are demands but the homes are just too expensive. This is despite the fact that
 Johor is said to have a huge oversupply of homes.
This is the article in TheStar which is a reminder from
 Johor Ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar.
He wanted the government to work with developers so that the Johor people have a home of their own. Sultan Ibhrahim said,
“The current house prices are way too high for most people. They simply cannot afford to buy them … they can only afford to look at them.”
(Humour aside, this situation is real and I reprimanded a good friend just days ago when he spoke about a new programme which was aimed at first-time home buyers. He asked if he could apply eventhough he has already a few properties!)
Sultan Ibrahim added that there must also be some flexibility because a “one size fits all” housing policy would not do, as each state is different.
(VERY TRUE! That’s why oversupply in some states are actually more serious even if the number of oversupply may be smaller simply because there were less developers building them…)
This it the full article again.

Well, these two articles sort of also validated my two points above. Oversupply does not automatically lead to a property market crash plus demand is real and it’s there. However, the type of homes these demands are demanding are really not forthcoming yet. Well, adjustments are being made now even by the developers. So, hopefully more of these units are upcoming instead of just the ever taller majestic condo towers with 100 facilities for example. Just a humour. Not referring to any particular condo in particular yeah. Happy buying your first-home. Plenty of info in
kopiandproperty.com
 too.  Just sign up for a daily article yeah.

written on 26 Nov 2017

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JB to become the next KL in future, I agree.

I read an interesting article in Thestar online this morning. The Sultan of Johor said,“Johor stands in a season of transition. Being high-growth, socially progressive and strategic, the state is well-poised to assume greater significance in the overall journey of the nation.” I do think this will happen and it’s a matter of time. The Sultan elaborated on some of his points which I will summarise below. I am not sure if many are reading long articles these days. Let’s look at some facts and potential from this active participation from the Sultan of Johor in the growth of Johor.

Johor Bahru is right next to Singapore and Singapore is the most expensive if not one of the most expensive cities in the world today.

Many countries have two competing cities, examples include Beijing and Shanghai, Melbourne and Sydney, Rio de Janeiro and Sao Paulo, and New York and Los Angeles.

Some key catalytic projects included the Ibrahim International Business District (IIBD), the High Speed Rail (HSR), the Johor Baru-Singapore Rapid Transit System (RTS Link) and Coronation Square. (2.6ha and RM3 billion Coronation Square, will contain serviced apartments, an office tower, a hotel, retail podium, a medical suite and a banking tower.)

Sultan of Johor: “If JB wants to be regarded as an international city, then it has to act and think like an international player.”

When HSR comes into fruition, KL – JB is a mere 90 minutes.

Sultan of Johor: “JB has the advantage of learning from KL. We will improve on the strengths and pick up what’s missing in the federal capital and the Klang Valley.”

Based on Malaysian Investment Development Authority (MIDA)’s numbers, Johor captured the biggest percentage of all approved investments in Malaysia in 2015; RM30 billion involving 104 projects as at September 2015. Earlier article about MIDA:
Real estate approved investments in Malaysia dropped 70 percent

Johor grew by 17.7% between 2012 and 2014, making it one of the fastest growing states.

Currently, a middle-class Johorean household earned an income of RM5,197 in 2014, up from RM3,650 in 2012.

Many doubted the mammoth Forest City project in Iskandar Malaysia yet today it is a reality with one of the best man-made beaches open to the public. Earlier article about Forest City:
Forest City. GDV down but it’s full steam ahead

Long time ago, I wrote an article about Iskandar. Read here:

Nothing in Iskandar yet for me but does not mean it’s NOTHING to me
  Today, I still do not own anything in Iskandar but seriously, as long as JB keeps growing and Singapore continue to grow as per their planned population growth, I think it’s clear that building underground or even reclamation will not be as effective and efficient as using JB as the platform of mutual growth. Will be visiting JB again in June after the weekly visits 3 years ago. Looking forward to feel the vibrancy of new developments. Perhaps enjoy a cuppa or two as well with some JB friends.

written on 23 March 2016

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JB-SG? Border is now fully reopened after 2 years

Happy lah… definitely

Yes, I am happy for the Johor people whose business were affected badly when the border between JB – Sg was closed.  Yes, I am happy for the Malaysians and Singaporeans who wanted to travel to and fro and did not get to do so for the past 2 years. Yes, I am happy because the economic multiplier will now be happening daily again. Especially when the border used to see 300,000 people travelling daily between the two countries before Covid-19 hit the world.

Image course:
https://themalaysianreserve.com/2022/04/01/thousands-cross-as-one-of-worlds-busiest-borders-reopens/

Article in themalaysianreserve.com
 There are no longer any need for test or quarantine for anyone who’s vaccinated to cross the Malaysia and Singapore causeway. People began gathering at the border checkpoint as early as 7:30pm in Singapore, according to Straits Times and Channel News Asia.

In Malaysia, the atmosphere around Johor Bahru city was just as lively, with many converging to wait for the arrival of family members, Malaysia’s
Bernama
 reported.

By 7am, more than 11,000 travelers passed through the checkpoints at Woodlands and Tuas.  as of 7 a.m. Friday, Singapore’s Immigration & Checkpoints Authority said in a statement. Johor Chief Minister Onn Hafiz Ghaz said that at least 400,000 people are expected to cross the border within the first week of the full reopening.  (I personally think the number will be higher… but just for this first weekend. It should start normalising a few weekends later)

In 2019, 10 million visitors from Singapore visited Malaysia, according to Ministry of Tourism, Arts and Culture Malaysia. Please do read the article in full for a lot more information.
Article in themalaysianreserve.com

Do not do foolish things please

Please do adhere to all SOPs. Masks should be on all the time. There is no need to be too relaxed and cause the border to be closed again. That would be stupid because it has taken such a long time to reach this stage and a few fools with Covid-19 is enough to cause everything to be negative again and no one knows how long it will be closed if such a cluster do happen after today. Keep it away!

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The malls in Penang and the biggest regional one in JB?

I was invited to give a talk in Penang last weekend. The venue was Sunway Carnival mall. This is a mall which I have been to, many times in the past, when I was still based in Penang. I am now based in KL for the past 4 years. Finding a car park has always been tough. Today, it was not too hard, probably because I arrived early, before 11am. My good friend who dropped by to meet me, Ken Lim of
penangpropertytalk.com
 told me that it was his 3rd time coming to Sunway Carnival Mall and he did not really like the fact that it’s so hard to get a car park! I told him that this may be a good sign for Sunway Carnival Mall. It meant that the crowd is huge enough to support the retail outlets there. However, when we had lunch at Kaffa, only a few tables were occupied. Fortunately this was not the case for all shops. Sakae Sushi was packed! Perhaps the price has some effects. I spent over RM30 for a meal and latte in Kaffa. A hot green tea and a few plates of sushi should cost much lesser. 🙂

I have not been to too many malls in Penang recently. Perhaps the other one I went to was Queensbay and it was packed, as usual. There were more shops too. So, are there any which is in trouble? Actually, how do we know if there are way too many malls? Would all malls face problems at the same time? I think we have to also look at the malls themselves. Assuming in the whole city, say in Penang, there are 15 small malls and suddenly one new super huge mall opens with majority of every brand available in all the 15 smaller malls. Would the new mall be closing or would some of the existing 15 be closing down instead? I think the answer is pretty clear, the biggest mall would most probably do well as most people would want to visit one place that has it all instead of three different places. The same applies to all major cities here in Malaysia. Having many existing malls does not mean no new malls are needed.

Image Source: thestar.com.my

In JB, I have been to a few malls. The one which is extremely packed would be City Square. In fact, let’s forget about finding a car park during the weekends. Another one would be KSL Mall which I think has also attracted many Singaporean shoppers. At least 2 different stall owners spoke to me in Mandarin and asked if I am coming into JB to shop from Singapore. As per reported in
TheStar,
the largest regional mall in Johor Bahru with 500 shop lots would be opening in November 2017. It’s called Paradigm Mall Johor Bahru. According to its owner, WCT Holdings Bhd, the take-up rate for the 1.3 million sq ft of net lettable space has already exceed 75 percent. It would have Parkson as its main tenant. The next one which is going to be huge would be Ikea Johor Baru. In fact this would open much earlier than the one in Penang. It will be opening in the Tebrau area. The new Johor Ikea store will have a total space of 46,713 sq m and serve more than 1.8 million people who live in the area. There are many more other malls being planned. There’s a full article from Singapore’s perspective here.
About 4 new malls in JB.
Happy shopping, when they open.

written on 9 May 2017

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JB’s high-rise residences: Vacancy availability and new supply

For the doubters of Johor Bahru’s property market, here’s a news which may make everyone say, ‘I told you so…’  😛  However, the news will also be telling of a window of opportunity to negotiate for the best price and well, buy. As for people looking for property bubble to burst and prices jumping off a cliff, please wait for someone to predict yeah. No idea who yet. In terms of buying and then selling the same unit in the next 12-24 months is unlikely to work yeah. However, if one is working in Singapore and needs a home which is not priced until it hits the sky, then this may be a time to start looking. Let’s see what some property market heavyweights are saying yeah.

Reported in an
Article in Edgeprop.my
  CBRE | WTW (Johor Bahru) director Tan Ka Leong said that he expects the vacancy rate of Johor Bahru’s high-rise residences to be above 50% for the first time in 2019. (Briefly, this meant that less than half of all available high-rise units would actually be occupied by owners. Yes, this is considered a negative news for Johor Bahru)  Tan said the high-rise residential market in JB will remain challenging. He added, “Generally, all the property segments in Johor Bahru were horizontal in 2018. Landed residential property transaction volume was down 20% while high-rise residential property transactions dropped 50% last year. There were also fewer high-end residential transactions in 2018.” Beyond just the lower transactions, there is another incoming supply of 10,500 units within 2019. He explained, “That translates to about 10% of the existing 102,851 units. I foresee prices and rents moving downwards in 2019 and for the first time, the vacancy rate will break through the current 50% resistance level in 2019.”
Article in Edgeprop.my

I am staying in a newly completed condominium in Melaka; Atlantis Residences. It’s pretty good and the price per night from booking.com is below RM200. Current price for a sub 600 sq ft unit starts from RM400,000 or higher. It was originally priced at below RM300k when it was launched previously. Assuming the rental for the units is just 10 nights per month, it will be RM1900 per month. This is equivalent to the mortgage for a unit of RM400,000.  For JB, we could use the same benchmark if we intend to buy a unit from the market today. What’s obvious is that prices will not be moving too much but if we could hold on… Happy understanding that bad news or good news are not that obvious to all.

written on 18 Jan 2019

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JLL: Rent-free period rising from one month up to six months

A good sharing by JLL Property Services (M) Sdn Bhd country head for Malaysia YY Lau in an article in
thestar. Read the full one here.
 JLL is part of the New York-listed Jones Lang LaSalle services and investment management firm. She was sharing in JLL-KLInvest’s
2016 Update & 2017 Market Outlook: Is Malaysia still an attractive real estate invesment destination
? (I think the answer is a usual, YES.) Some other interesting points that she shared as below.

The rent-free period for office space renovation purposes has risen from the usual one month to up to six months. She also shared that, “The demand for rental to come down, rent-free negotiations, free car park and other ways to reduce cost will be some aspects of the office market this year.”

There are four places when it comes to office market. They include three core areas like the city centre or KL central business district, KL fringe which includes KL Sentral and Damansara Heights and decentralised areas like Petaling Jaya, Shah Alam. The fourth is administrative centres like Putrajaya and Cyberjaya. Rental is softening but super prime site like the Petronas Twin Towers in the KLCC area is RM13 per square foot (psf) and this will not drop.

City centre has been experiencing over supply since 2012. Landlords are thus more flexible and on average rental rates are down by about 10 percent. Typical rental of prime Grade A office space averages RM7.50 persq ft. There is no over supply in the decentralised areas and rental has not really dropped.

There are some strong sectoral features on location basis. In the city centre, engineering services occupy 58% of the leases from the second quarter of 2015 to the last quarter of 2016, in the KL fringe area IT companies have 31% of the leases, while in decentralised area, pharmaceutical firms have 47% of leases. (I could see pharmaceutical outlets everywhere I go, sometimes a few outlets within the same street)

Areas with good connectivity will see spikes in demand with Mass Rapid Transit (MRT) system being a game changer. Well, this good connectivity may mean some of us may stop driving into the KL city centre in the future.  Invest KL CEO Datuk Zainal Amanshah said, “Any city which modernises and introduces public transport will inevitably consider a CBD charge. Whether the authorities in Kuala Lumpur will do this, I cannot comment.”

For me personally, I would see the office space demand as a gauge of the economic activities. Oversupply happens when supply is coming into the market faster than demand. However, always remember that the reasons for the supply was because of the demand in the first place. Everyone wanted to capture that demand and that’s why they built but of course when everyone builds, the oversupply comes in. I think for Klang Valley an oversupply situation is not a bad thing. We may not want a high office space rental versus all the other capital cities in South East Asia. Let’s stay attractive. Happy following.

written on 21 Jan 2017

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Jalan Merdeka exhibition at Carcosa and Seri Negara

Have you been to Carcosa and Seri Negara? Both are buildings of significant historical significance. I was invited the Jalan Merdeka launching yesterday evening. It was an event that I would not want to miss. Especially one which is related to our country’s road towards independence. Aptly titled Jalan Merdeka exhibition, it is showcasing never-before-seen artefacts of the untold history of Malaya’s road to Merdeka (independence). Within the same room that sealed Malaysia’s independence 60 years, ago, Yang di-Pertuan Besar of Negeri Sembilan Tuanku Muhriz ibni Almarhum Tuanku Munawir signed a document to launch the Jalan Merdeka exhibition at Carcosa Seri Negara. After the signing, all guests were treated to a vibrant display of fireworks sponsored by the Japanese Embassy. Did you know that the Japanese community and government contributed a similar fireworks display on Aug 31, 1957 in celebration of Merdeka? WOW.

The exhibition is starting on 1st September and it will be open to the public for one month, complete with a programme of activities. Admission is free and we could visit it from 8am to 5pm. Just Waze or Google Map for Carcosa Seri Negara to drive there. Jalan Merdeka will go beyond the official story of Malaysia’s independence. It will also explore rarely-told perspectives and this include even those of the labour communities and opposition forces and even the impact of the Cold War. I listened attentively to the guide who explained the history as if she was there during those days. It was very interesting and helps the understanding much better. For example, how rubber plantations and Indian labourers from India engaged and how many suffered and 1.2 million Indian labourers died due to harsh working conditions. These labourers contributed significantly towards the Malaysia of today.

Some time back, a close friend told about the significance of Carcosa Seri Negara and we wanted to enjoy a scone and a cup of tea but we never did drop by. Carcosa Seri Negara used to be a luxury hotel with two colonial mansions, one named Carcosa, the other Seri Negara. Both these mansions have been vacant for many years and now, The Asian Heritage Museum (AHM) has been granted tenancy of the Carcosa and Seri Negara mansions. AHM will be using it as a museum and for performing arts and cultural event space. There will also be a resource centre on the history of the building and more. As a Malaysian, I think the exhibition provides a bigger sense of nationalism and pride. Regardless of your political beliefs, after reading through rows and rows of explanation, I can safely say that those views are just facts based on history, told from many different perspectives. It is not just from the party in power or just one sided opposition point of view. Do enjoy it while it is still open. Cheers.

written on 31st August 2017

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Making sure the maintenance of our high-rise is good for future.

“My condo’s management is ineffective! They are spending money indiscriminately!’ Familiar comment from friends who are staying in a stratified high-rise or even landed these days? Well, the most effective way for us to take some real responsibility in managing our own strata property is to join the Joint Management Committee (JMC). Seriously, if we have experience in managing issues and people in the organisation we work in, why not put some of these experience into helping to manage our home? Briefly, within 12 months from the date of the delivery of vacant possession of a home to a purchaser, a Joint Management Body (JMB) is established. This JMB is made up of the developer and the purchasers and will be jointly responsible for the maintenance and management of the strata development project. The JMB will then elect JMC and they will perform the JMB’s duties. Every JMB will have a JMC which consist of not fewer than three or not more than fourteen.
A thorough article in NST by Ivan Chan can be referred to here.

What are the duties of the JMB? As per the Strata Management Act 2013 (SMA), these include:

Determining and imposing the management fees (Yes, the management fee can go up or down though usually it’s up)

Maintaining and managing common properties so that it’s a state of good and serviceable repair (Now you know why when the JMB does not collect enough money, the maintenance starts to deteriorate)

Insuring the property and effect the insurance according to the SMA. (If fire were to break out for example, the insurance will cover it and the JMB is NOT paying for it from their funds…)

Complying with notices or orders given by local authorities (Please read all these notices yeah. For newer condos, it may come via an APP too)

Prepare and maintain register for the property of all owners

Making sure the management fund accounts are audited and provide audited financial statement for all members  (Please look at these reports on a periodical basis. Basically, the funds should at least be breaking-even if it’s not increasing. Assoon as funds start to deplete faster than the collections, it’s either higher fees or the start of nightmarish facilities…)

They can ALSO make new by-laws by way of special resolution at a general meeting. (For example, imposing a fine to owners who did not abide by the newly passed by-laws and even taking them to the Strata Management Tribunal)

Please do refer to the full article in NST for reference.

As per another article in
property360online.com, it explains this about ‘Special Resolution.’

Special resolution means “
a resolution which is passed at a duly convened general meeting of which at least 21 days’ notice specifying the proposed resolution has been given and carried by a majority consisting of not less than 3/4 of the valid votes cast at the general meeting by a show of hands, or if a poll is demanded and taken, by a majority consisting of not less than 3/4 in number of the valid votes cast on such poll”.

If we are comfortable thus far with the maintenance of our place, we may choose to just let the JMC do their duties. If however we think there are potential improvements, by all means do our part. We can canvass our neighbours to give us some votes to become part of the JMC. Usually one would need to prepare a short speech too. I have seen some good speakers. Haha. Please do it for the sake of the high-rise property yeah. Remember, maintenance is always the key to future value of the property. Here’s an earlier article:
Maintenance is key to secondary high-rise properties
  Happy working.

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written on 20 Aug 2018

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Jobs for local, golf tourism and a committed US$100 billion township development

Golf is a ‘luxury’ my ex Japanese bosses enjoyed the most in Malaysia when they were based here long time ago. ‘Luxury’ here is not just the money part. They told me that due to the sheer demand vs supply back in Japan, it’s tough to get playing time and one would usually have to book weeks in advance. However when they came to Malaysia, they suddenly have so many choices.

There’s another one in Forest City, Johor.
Reported in Edgeprop.my here.

Country Garden Pacificview (CGPV) has unveiled RM1.8 billion Forest City Golf Resort and Jack Nicklaus Designed Forest City Legacy Golf Course. The resort has hired more than 150 employees and Country Garden Malaysia Director of Strategy Ng Zhu Hann said the company plans to increase job openings as business activities ramp up. CGPV also shared that it has created 1,200 jobs as at today from its US$100 billion Forest City township development. 80 percent of all these jobs were taken by locals. It aims to generate economic growth through eight key industries – tourism and MICE, healthcare, education and training, regional headquarters, nearshore finance, e-commerce service base in Asean, application of emerging technique and service centre, and sectors related to a green and smart city.

Ng said, “Forest City Golf Resort and the Jack Nicklaus designed Forest City Legacy Course will attract golfing enthusiasts from all over the world and elevate the state of Johor’s golfing tourism reputation in the region as this is a world class championship course. This will also in turn draw major investments, promote state tourism, opportunities and skill transfers to the locals.” According to CGPV, Forest City Golf Resort is the 27th golf course in Johor. Forest City Golf Resort and Golf Course general manager Arthur Yeo said the new course, called the Legacy Golf Course, will have a “desert-style” concept, surrounded by mangroves and natural water features — making this a one-of-a-kind golf course for novice and professional players.
Here’s the report in edgeprop.my

When we look at the attracting players from all over the region to such a world-class course, we need to also think about the connectivity part. For example, Johor’s International airport. I know, it’s not that easy because it’snext to the Singapore’s. It is okay, how about using Singapore’s Changi airport as a base but with direct and easy links to the golf course. It should all be within a package. Seriously, if a 3-5 day packaged golf-course cum vacation package can be promoted really well, we are really looking at never ending supply of golf players from all over the region. It does not need to be weekends lah. Nothing to stop a few Japanese corporate buddies in Tokyo to say, ‘Let’s go JB tomorrow for golf,’ during one of their drinking sessions and they book the package online, fly to JB / SG and starts playing the very next day! Flight time is just 7 hours (to SG) and 9 hours (JB direct) anyway. Golfers, go and enjoy.

written on 1 Sept 2018

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Job security. Is our job secure for the future?

How many of us could say with confidence that if my company treats me badly, I will resign and I could secure a similar job within 30-60 days? Congratulations to you if you are very confident with this answer.  It meant that your job may be needed by many companies currently. Let’s look at what’s happening in an advanced economy as our ‘crystal ball’ guide into the future?

Below are the jobs in the U.S.
(as per this awesome site, visualcapitalist.com)
 which is declining very fast and the number of people needed would continue to reduce as we can see from the image. Many of the jobs are similar to what we have here in Malaysia too. Yes, a telephone operator earns over US$3,000 (RM12,500) per month in the U.S. today.

Image source:
https://www.visualcapitalist.com/the-20-fastest-growing-jobs-in-the-next-decade/

Do we still have our current job 10 years later?

Would our job still be around 10 years later? If yes, would there be changes which we need to do? If no, then how do we start pivoting towards another job which is more secure versus this current one which is declining and my be obsolete 10 years later? Do we need to learn new things? Do we need to study for new qualifications? No job is secure forever these days.

Of course, another way is to ensure we start building new income streams too. What we need to bear in mind is that if we could turn our job into a flourishing career (usually with a big fat salary), then the second income stream is less necessary.

Remember to invest a big part of the salary yeah. If our lifestyle changes into more expensive stuffs because we have more money, then we are back to square one. Nothing can save us, not a career nor a few income streams.

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Fresh grads to middle and senior management. Over 1,000 jobs available NOW.

Too many people got retrenched, reports were non-stop. Airlines are said to have grounded most of its planes and many will have to be asked to leave. Fortunately, there’s a silver lining for tourism even if people may not suddenly choose to travel again unless they really feel safe enough with regards to COVID-19 situation. Today, our new infections are below 10. Hopefully this continues.

The unemployment rate is going up here in Malaysia. It’sclose to 4% currently and may go higher. We receive way too many negative news about companies letting people go because they have to stop operating. Well, at least here we have one which is offering over 1,000 jobs yeah. It’s in a shop I used to frequent on a weekly basis. Mr. DIY. They are offering jobs for fresh grads to middle and even senior managers at its headquarters.

Article in thestar.com.my
  Local enterprise MR DIY is offering more than 1,000 jobs to Malaysians at its stores nationwide and headquarters in Selangor It has vacancies at its over 600 stores and positions with openings include promoters, cashiersand supervisors. Mr DIY managing director Adrian One said, “The Covid-19 pandemic has put us in an unprecedented situation where we are simultaneously battling health and economic issues.”

He added, MR DIY has been able to maintain and grow our workforce, to support the Malaysian economy. We are pleased to be in a position to attract jobseekers to join our growing team.” Mr. DIY’s recruitment campaign started on 1st June 2020 and will run for the next 3 months. Candidates must be at least 18 years old, and have a Sijil Pelajaran Malaysia certificate for cashier and promoter positions, and diploma or degree for supervisory level onwards. Click here to view all the available jobs yeah.
www.mrdiy.com/career
. Full article in
thestar.com.my

The issue with many Malaysians is that some jobs, they don’t like. Some jobs, they think not enough glamour. Some jobs, too hot under the sun. Well, the list goes on and of course there’s also that ‘salary not enough’ reasoning too. There are opportunities with all careers IF we are truly diligent in doing it. As for all the other reasons, well, here’s a Malay proverb for you. ‘Hendak seribu daya, tidak seribu dalih.’ In English it’s ‘When there’s a will, there’s a way.’ Happy applying.

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Jobs, Jobs and Jobs. That’s the foundation to our investments.

Anyone intending to buy a property will need to get a loan. Well, nearly everyone except a buyer for one my condos who paid for it by cash. Thus, the process was a breeze and the keys were handed over within 30 days. The new owner is still staying there happily. She did not need a loan because her father paid for it. Oh yeah, the price of the condo was RM640,000 a couple of years ago. 1,258 sq ft, so it’s like RM508 per sq ft.

I understand that her father is a retired working professional, not a businessman. Well, her father could pay for it maybe because her father had worked for over 35 years and could have saved / invested and now has enough cash to give her daughter a home sweet home. How much could we have after working for 35 years then?
Well, potentially millions. Read earlier article here.

Article in themalaysianreserve.com
   Up to 104,000 new jobs were created from 8.7 million jobs in the private sector in the fourth quarter of 2019 (4Q19) compared to 8.5 million in the previous corresponding period, according to the Department of Statistics Malaysia. Chief statistician Datuk Seri Mohd Uzir Mahidin said, “The number of jobs in the private sector rose 119,000 to register 8.7 million jobs. The rate of filled jobs was 97.7% while the vacancies rate was 2.3%, with the number of job vacancies recorded at 198,000.”

As for where are the jobs from, 43% are for skilled category (higher salary, usually) and 49.2% are semi-skilled.   Services sector provided 49.2% of the jobs followed by construction with 21.4% and manufacturing sector contributed 18.4%. Mohd Uzir added, “The number of jobs in the skilled category expanded by 19,000 to register 2.1 million jobs, with a share of 24.3%. Filled jobs made up 97.7% while vacancies rate was 2.3% with 48,000 in numbers.” For even more numbers and details please refer
Article in themalaysianreserve.com

It’s good to note that the kind of jobs which was available from the private sector are for skilled category and these roles could be filled too. These jobs will provide a good pay and the good pay will translate into a higher consumption of goods and services. By the way, these working professionals may choose not to buy a property. However, if enough of them spend their money at the same restaurant, then the restaurant owner would have the money to buy a property too.

Alternatively, because these working professionals are moving to the bigger cities for these skilled jobs and could afford to pay a higher rental, the owner of the house could then use the rental to buy another property a couple of years down the road. This is why before we look at the property market, we must look at the job market. Oh yeah, how many jobs are available as at today? Image below.  Happy browsing the jobs @ jobstreet.com.my yeah.

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Johor Bahru attracting lots of foreign retailers! People and economy.

It’s safe to say that if I am a foreign retailer brand and coming into Malaysia for the very first time, Kuala Lumpur would be a natural start. The first reason is of course because that’s where majority of all brands are. The more ‘profitable’ reason is that that’s where the population growth is. If we intend to sell, it’s best to sell where there is a huge pool of potential customers. Once the brand starts gaining acceptance and some profits, it may then expand to other cities followed by towns etc. That is why when we go to malls in the smaller cities, the brands they have would be the same brands that malls in Kuala Lumpur would already have but not vice-versa. We have a good news for Malaysia. Johor Bahru is now a strong magnet when it comes to attracting foreign retailers.

Full article in TheMalaysianReserve here.
 According to the article, the reason JB starts to become a top choice for foreign retailers include
the city’s increasing population with the mega property development projects, as well as its more robust economy. According to
Retail Group Malaysia (RGM) MD Tan Hai Hsin, JB is now a starting point for many retailers before they venture to other places in Malaysia. He said,
“A majority of them come from Taiwan, followed by South Korea. The top categories are food and beverages, and fashion and accessories.
We have also noticed that many foreign retailers who opened their first store in Johor Baru tend to do well there. From there, they move to the Klang Valley and other places in Malaysia.” He added that in terms of concept, new entry and even occupancy rate,
the city’s retail market does not lose to the Klang Valley.

He then shared this observation.
“It is common to see a shop being open for six months and closed six months later in Johor Baru, but a new shop with almost the same concept will replace it immediately.” (Vibrant scene even if that also shows that it’s not sure profit with opening of any retail outlet)
The other advantage that JB has would be because it’s right next to Singapore. This attracts
a high number of visitors from Singapore during weekends, which helps boost its retail market. Tan expects the trend of foreign retailers coming into JB to continue because there are big shopping malls such as
Capital 21, Mid
Valley Southkey Megamall and Toppen Shopping Centre slated to open in the city soon.
RGM expects retail sales to rise 4.7% year-on-year this year to RM104.4 billion based on 1Q18 projections.
Full article in TheMalaysianReserve here.

Happy shopping.

written on 2 April 2018

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Johor Bahru too expensive. Too many foreign developers. Too high rental.

I read an article online just few days ago quoting ONE (1) example of a buyer who has been saving for over 10 years but could still not afford one home in Johor Bahru. I wonder if Johor Bahru is really so expensive? Thus far I have not heard of my Johorean friends telling me that they could not afford a home. Most of the time, it is more of the ‘why are the prices going up so fast?’ Well, a check online using price as a benchmark yielded more results that I had imagined. Take a look at the latest chart as at 2 November 2014.

The article also quoted lots of people being frustrated for being locked out of the property boom taking place in Iskandar Malaysia. This time, it did not quote any other example beyond one statement. Next is a statement stating that Iskandar Malaysia has become a huge discount market for Singaporeans and worker colony for the island city. I am not sure but I think way before Iskandar came into the picture, the house prices were at an even bigger discount to Singapore. As for the term colony, if the writer is really serious, then be reminded that Johoreans did NOT start working in Singapore only after Iskandar started. They have started way before. With the exchange rate and the work opportunities, many braved hours of travelling everyday to go to Singapore for work.

Then, it quoted a property consultant in Johor saying that due to all the big players from China, it has also brought in speculators. However, based on the results for first half of 2014, the total market is cooling down especially after the government said that foreigners could only buy RM1 million property or higher. Is this not a good news? The article said that this is bad because the shop rental rates has gone through the roof. One example was the increasing of RM1,000 to RM2,000 within a period of one year. No further mention about whether the business owners would close shop or not. Nevertheless, if I am the business owner and I close shop because rental increased by RM1,000 it means that my gross profit is way too low and I should have closed my business anyway.

Many times, when we read articles, do we value them? I do. I love great articles, for example, those with real stats, real numbers and good comments. However, I am unhappy if an article is poorly written by any full time journalists. Are they writing without any understanding? I seriously believe the state government of Johor better continue to control the development in Iskandar but at the same time I support the growth in Islandar to be continuous. As for prices rising beyond affordability, I seriously doubt that as well. I used to go JB once every 2 weeks for 5 months continuously. I never felt so and unless this has changed drastically within 1.5 year. Please, write objectively instead of sensationalising and yet unable to support it with facts and data.

written on 2 Nov 2014

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Nothing in Iskandar yet for me but does not mean it’s NOTHING to me.

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Development charge to be charged from 2017 in Johor, probably.

Dear Johor developers, a development charge may be on its way. In accordance with the provisions of Section 32 of the Town and Country Planning Act 1976 (Act 172), the Johor government plans to impose a development charge on property projects carried out. This is already in the final stage of coordination, according to State Housing and Local Government Committee chairman Datuk Abd Latin Bandi. Of course, the ‘final stage’ here refers to before being presented to Mentri Besar Datuk Seri Mohamed Khaled Nordin.

The charge is to be levied on the applicant whose development project was approved for the conversion of land use, which changed the floor area, compactness and density, would raise its value. This development charge will provide provisions to improve infrastructure and public facilities in the area. He shared that this should be implemented next year but it will not have a give a big impact on the selling price of property units. What it is supposed to do however would be to benefit the local authorities, the developers, community and state.

Instead of speculating on when is the date for implementation, I would personally wish for more of these new improvements for the public to be spelt out well in advance. In writing, hopefully. I think Johoreans should get to know so that they too can provide some constructive comments. Whatever is good for the public should be quickly shared so that when it is completed, the public can have access to and benefit from it. I do think it will be implemented, just like the hotel levy in another state which I also support and have paid willingly. I hope it will be used wisely. Happy believing.

written on 24 Oct 2016

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Who says don’t buy Johor property market? You should buy!

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Iskandar Malaysia’s progress and next decade

A good friend who’s a top management still believe that Iskandar (including JB) is nothing more than just an imagination and that he imagined the
whole Iskandar with lots of unsold units which

has been built and that buyers would lose all their money. I asked if he has actually been to Iskandar recently and his answer was negative. His reasoning? Investors would prefer Singapore and not Iskandar and these two choices are right next to one another. He asked this very important question, ‘If you can earn S$ versus RM, which one would you choose?’ I said, ‘Anyone would choose S$ over RM when it comes to monthly salary. However, not every type of job can exist in Singapore. Besides, for Singapore to continue prosper, it has to have a supporting base and that can be Iskandar.’ To cut the story short, we did not debate further and thus we remain good friends today. He does not believe in buying JB properties while I believe but working full time meant my income is limited. Please give me 2 more years.

As for Iskandar, here are some points
highlighted by Zazali Musa in TheStar recently
. Let’s run through some of his points and decide on the next actions accordingly. Iskandar Malaysia was launched on Nov 4, 2006. (Yes, it’s been 11 years and still ongoing…)  As at 31 Dec 2017, it has attracted a total of RM253 billion in investments and the economic corridor targets to achieve RM383 billion by 2025.

The size is 2,217 sq km which is three times bigger than Singapore and two times the size of Hong Kong. (No, it was not envisioned to overtake Singapore but to ‘prosper thy neighbour’)

Iskandar Johor is “fortunate due to its close proximity to Singapore, an international trade and financial centre.” (Have we ever though about why the Singaporean government is also very supportive of a vibrant Iskandar Malaysia? Here’s what the PM of
SIngapore thought about Iskandar for the SMEs)

Diversification continues to happen and current focus include oil and gas, bio-economy, green technology,
halal
-based products, hospitality and services and logistics.  Johor is no longer just a manufacturing base even if it has long been a manufacturing base for the region. Over RM93 billion was invested into the manufacturing sector from 2013 to 2016.

There are also these enhancements in connectivity into and within Iskandar Malaysia. They include Gemas-Johor Baru electrified double-tracking railway system, the High Speed Rail (HSR), the Johor Baru-Singapore Rapid Transit System Link (RTS Link) and Iskandar Malaysia Bus Rapid Transit System (IMBRT).  Of course the latest good news would be the reduction in
toll charges for vehicles using the Second Link and starting from April 1, Singapore will reduce charges at their Tuas checkpoint during peak and non-peak hours.
That full article in TheStar for reference.

Feeling a bit more positive with these actual happenings? Depends lah. If we are looking to buy and rent it out to students, then the usual market is still Greater KL lah. Not Penang and not yet Iskandar JB. If we are looking at diversification, perhaps. If we are currently working in Singapore and thinks the upcoming RTS will change our lifestyle, then buying in Iskandar is likely to be a good decision. Whatever it is, always look at it from our own reason(s), not what our friends are telling us yeah. I wonder when is my next trip to JB. Cheers.

written on19 Feb 2018

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Outlook in Iskandar? RTS helps a lot

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RM8 billion more investments into Johor in 2019

One of the latest updates about Iskandar Johor was in an
earlier article here.
 It’s about RTS, flights and ferry
Let’s just say that for me, the catalyst for future growth between both Johor and Singapore would have to be the Rail Transit System (RTS). As for property needs,
here’s an earlier article.: Johor needs many more homes than today.
 Here’s another piece of latest positive news about Johor. Somehow, I could not find an article about it in English yet, so here’s that translation below from an article in Berita Harian. A Singaporean friend in SG asked what the article is about.

Johor’s MB Johor Datuk Osman Sapian announced that another RM8 billion will be invested into Johor by multi-national companies in 2019.  This was because the state has been able to convince investors of the potential for their investments into Johor. He shared that with these investments, it will provide positive impact to the state and the people. He also shared that Johor will have to give lots of attention in its growth by focusing on 3H:‘ High Technology, High Value dan Halal Industry’ These are the most important drivers in propelling Johor into a high achiever state. There was also a rebranding for Johor’s Pusat Pelaburan Negeri Johor’ which was established in 2004. It will now be known simply as ‘Invest Johor’.
The article in BHarian here.

A third link could be ready as early as
2022. Here’s that earlier article.

I think I should visit JB again soon. Perhaps I should not be there for some functions. I should just go there and really drive here and there and everywhere.
Here are 4 reasons why Chinese buyers love to buy JB homes
 There has been some not-so positive news but my view is that JB and SG has to work together, else we are no longer competitive versus the world outside. Happy following.

written on 30 Nov 2018

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RTS gets in-principle approval.10,000 travellers per hour per direction.

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Johor to receive RM80 billion worth of FDI from China

RM170 billion worth of FDIs from China after PM’s recent visit

This was the recent article which was about 19 MOUs valued at RM170 billion after PM Datuk Seri Anwar Ibrahim’s visit to China.
RM170 billion investments with 19 MOUs signed with China
 As briefly touched on, it is now up to all the relevant ministers to follow up this very closely. All these investments would carry multiplier effects. So, if there’s an investment of RM170 billion, there is a potential multiplier effect to the economy of 4 times and that’s RM680 billion. This is why the ministers must really do their job well.

Article in edgemarkets.com
  PM Datuk Seri Anwar Ibrahim said, “The world’s largest petrochemical company Rongsheng has agreed to increase its activities in Malaysia with a petrochemical, oil and gas refining facility in Pengerang, with a project value of up to RM80 billion,”

He shared that Rongsheng has made assurances to hire local workers.  Rongsheng’s investment commitments form part of the 19 memorandums of understanding (MOUs) which were inked between Malaysian and Chinese companies on the back of Anwar’s official four-day visit to China. Anwar said the agreements carry an aggregate commitment of RM170.07 billion in foreign direct investment (FDI).
The article is here in theedgemarkets.com

Oil and gas will remain very strong even if EV has lots of hype these days

I am someone who does NOT believe Eelectric Vehicle (EV) will overtake Internal Combustion Engine (ICE) within the next 10 years. I will leave this here in this article and we can look at this again. In fact even Hybrid may have a longer future if we are talking about the gap in prices becoming smaller between EV, Hybrids and even ICE cars. This is why petrochemical related investments will continue to be a great investment. That’s also why we must continue to get more of these companies to invest into Malaysia too.

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Johor to SG will have a third link by 2022 or earlier?

The more links between both sides (Johor – SG), the better it will be. More SMEs in Singapore can be expand their business with management on one side and production on the other. Iknow Singaporean SMEs can also build their factories in Batam By the way, the minimum wage for Batam is already set at IDR 3.52 million (RM981) which meant that the difference is not as wide as I thought anymore. It’s also much harder to get to Batam from Singapore when compared to Johor.
Here’s that earlier report about this minimum wage.
  People from both sides (Johor and SG) can even become tourists to one another on a weekend basis. I think the Johor Menteri Besar and his team of advisors may be agreeing with my views too. 😛   Reported in an article in
edgeprop.my: Third Johor – Singapore link bridge wanted within 4 years.

The third link will be built in Sungai Rengit, Pengerang and it will link Johor to Pulau Ubin in Singapore. It will take between 3-4 years. Current two links are Johor Causeway and the Second Link Crossing. Mentri Besar Datuk Osman Sapian was quoted by
The Star
 as saying that talks were currently underway with a company that showed a strong interest in undertaking the project. Osman said, “If everything goes as planned, we could see the bridge taking place within the next three to four years.” This will be a project implemented under the Private Public Cooperative Unit (Ukas) of the Prime Minister’s Department. The link Sungai Rengit-Pulau Ubin route will only be 3km.  The link would feature common immigration checkpoints for both Malaysia and Singapore which is different compared to the separate checkpoints for both the Johor Causeway in Johor Bahru and the Second Link Crossing in Tanjung Kupang, Gelang Patah.
That article in edgeprop.my for reference here.

Anyway, let’s get back to reality. This has to be approved by the Federal government. Yes, it should be easier than if the state is under opposition but this has NOT been approved yet. Again, this will help those with vehicles but if we are looking at even Singaporeans without vehicles (majority of them!), then a much more thorough last-mile connectivity is needed. If we have a bus between both sides for this 3rd link, then what happens when these Singaporeans without cars arrive in Johor? Will they be able to travel around tourist spots easily? This will be the key and not whether just the bridge to be built. Of course, if the answer is that there is NO bus being planned, then this 3rd link will just be busy during those holiday periods. Perhaps this is not so ideal yeah. Happy following.

written on 31 Aug 2018 (Yes… writing even on this day)

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The quality of your life is the quality of your communication. Join Toastmasters.

The quality of your life is the quality of your communication. This is a quote from well known life and business strategist Anthony Robbins.

I have been a Toastmaster for the past 16 years. Happily continuing my membership in this organisation where
Leaders Are Made. Click here to view.
 Alternatively, please do visit
District 51 Facebook page. I am the current District Club Growth Director aka CGD.

As a fresh graduate…

Not many companies hire by just looking at the piece of paper called degree. They hire after the interview and the capability to communicate will mean the fresh graduate is able to articulate things much better than a top student who could hardly communicate.

As a new junior staff…

We can work very hard but remember, when the final results are ready, we need to communicate this to the manager. It is not by just sending the results in an email and then believing that the manager can get all the necessary just by looking at the email and the result.

As a lawyer…

I really do not wish to even write a single word here because if some has a Law Degree holder and he / she is unable to communicate effectively… in the court.

As an accountant

If we think accountants only need to get used to numbers, please do read some of the Job Descriptions of a senior accountant or even Financial Controller yeah. There are many occasions where the person would have to present to the management… to the regional teams etc. It is not just putting up a slide and reading word for word.

As a doctor…

I can safely assure you that my wife still continue to send our kids to a child specialist even though he is like 20km away is because his ability to communicate to our kids and us is really excellent. Explain the issue and medical terms easily is not something that could be done by all doctors. That’s why some become sought-after and some are forgotten.

As a real estate negotiator

IF that brochure can sell and a REN does not need to speak, then I can also tell you that the developer will just print more brochures and send to the potential buyers.  RENs have an important role to play. Ability to communicate to the customers is thus compulsory because no one buys RM500,000 property by just reading a brochure.

As an engineer…

The world needs more engineers. True. The world also needs a lot more Engineering Managers too. Perhaps an engineer can say they seldom do presentations. However in order to get that promotion… do we just do, do and do and forget about communicating our ideas, our achievements and even our aspirations?

As a CEO…

Imagine trying to give a talk to a big crowd and the words just could not come out. Imagine trying to sell the company’s value to a group of investors by reading word by word from the slide. Imagine speaking to shareholders of the company about the company’s future plans.

Communication and even leadership is key

I could go on but if you truly believe that you like to start that first step towards better communication and leadership opportunities, then join Toastmasters. I am the current term Club Growth Director (CGD) for District 51 and I would be happy to point you to the right club near where you stay or work to start.
Click here to fill up a simple form.
  First visit can always be as a guest.

If you like, welcome to join us. Maybe your company may already have a Toastmasters club today or you can join any of the community clubs near you.

Currently, District 51 is running a new membership campaign. We have a free welcoming gift for all new members joining from now until 31st March 2022. Poster is above and welcoming gift as below. Perfect for your travelling which will be happening soon. So many countries have reopened their international borders too.

— end of message —

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HSR’s Joint Development Partner is awarded.

More than three countries are vying to be the technology provider for the High Speed Rail (HSR) KL – SG. Latest one indicating their interest was South Korea. I have no access to the decision makers but I am pro-Asian companies. 🙂 As for which country, I think………. ‘Let the best bid wins.’ Yes, the winner definitely would have to provide attractive financing options as well because the cost is going to be exorbitant. There is another significant progress for the High Speed Rail KL – SG.  Full article in
NST here.
 The Joint Development Partner (JDP)

has been announced by MyHSR Corp Sdn Bhd and the Land Transport Authority (LTA) of Singapore. From 8 bids received last year, it has been awarded to the consortium of WSP Engineering Malaysia Sdn Bhd, Mott MacDonald Malaysia Sdn Bhd and Ernst & Young Advisory Services Sdn Bhd.

According to a joint statement by MyHSR and LTA, the JDP will provide project management support and technical advice on HSR systems and operations. The JDP will also develop the technical and safety standards to be adopted for the project.  MyHSR chief executive officer Mohd Nur Ismal Mohamed Kamal said, “Following the commitment of the two governments through the Bilateral Agreement signing, the JDP appointment marks the start of a challenging yet exciting journey to bring the Kuala Lumpur-Singapore HSR project to reality.”  (This is very true. Now the JDP can start working because they would already have timelines to meet.) An earlier article about HSR here:
MyHSR Corp: Freeze! Can’t sell

LTA chief executive Ngien Hoon Ping said, “Together with the advanced engineering study contract awarded earlier by LTA to carry out engineering studies for the Singapore stretch of the HSR, these two developments mark the next chapter in our journey to deliver the Kuala Lumpur-Singapore HSR project, targeted by end- 2026.”  (Yes, the date is still the same and it is close to 10 years away. So please do not buy projects simply because of this HSR. better buy for other reasons) Another earlier article here:
HSR KL – SG: Taking steps in the right direction
I think some may be interested in an even longer line instead of just KL – SG. Yes, the equation of Bangkok – KL – SG. Here:
When three becomes one: Thailand – KL – Singapore HSR
Happy following and I wish them a smooth progress.

written on16 Feb 2017

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How HSR would benefit the cities along the line

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Forming a joint management body is essential, really.

How many of us would strive to take care of our own belongings? What about taking care of other people’s belongings? Well, I would do my best for the former but for the latter, it depends on a lot of things. What if I tell you that by taking care of what we have really well, it will help it to appreciate in value in the future? One major issue with high-rise residences would be maintenance. When not handled properly right from the beginning, especially right after handover, things start breaking down and the cost to fix it escalates. However, it’s always possible for the Joint Management Committee (JMC) to make it better.

My current place was very badly maintained in the first 24 months, according to some original owners. The JMC was formed and everything improved tremendously. I am staying in a Balinese-styled 10-year old condo. Obviously an old one since Balinese-styled is no longer the trend today. Haha. It does not happen just for condo. My close friend’s apartment without facilities in Penang is also very well maintained and always very clean. She said the JMC is very strict and thus all owners follow all the guidelines. I do believe a good JMC changes everything. Before we buy any place at all, check it out first. Some tips here:
12 tips on inspecting condos

One piece of news caught my attention today. My friend is currently staying there and he is moving out because of the atrocious maintenance for the condo. The JMC has yet to be formed apparently. According to the article, 50 residents from the Kepong Sentral Condominium, led by its Residents Association president Johnny Khoo demonstrated their dissatisfaction at the Selayang Municipal Council (MPS) office on the sorry state of facilities their condominium. He said that the management company New Light Century Sdn Bhd (NLC) and MPS Commissioner of Buildings (COB) were delaying their wish to form a joint management body.

It was also revealed that the lifts, badminton court and gym have not been fixed. This was the major reason why JMC is needed, according to Khoo. NLC’s assistant building manager Naga Rajah said that NLC has done their part. He quoted the example of lifts where all the drive shafts and motherboards were changed but the vandals took out the buttons and removed starter lights. This meant more funds were needed to fix it,something which could have been used for other parts the building maintenance. Later, it was reported that the matter was no longer with MPS COB but has been passed on to the Selangor Housing and Property Board. Next meeting is on May 9.

Seriously, the relevant authorities must work even faster because a JMC can mean a serious depreciation of value or a continuous and stable appreciation of property price. All the owners of high-rises in Malaysia deserves to have a fully functioning JMC. Let’s hope the Selangor Housing and Property Board and the the residents’ association can have a fruitful conclusion on 9 May. Will update if there are further information. Happy buying our own home sweet home.

written on 16 Apr 2016

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Maintenance is key to secondary high-rise properties

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Joint mega cities, why not? With High Speed Rail’s help.

How would you like the news of Kuala Lumpur + Singapore becoming the top 28th in terms of population and 11th in terms of gross domestic product (GDP) in the world? You do not think it’s important? Okay, please skip this article. 🙂  Actually, this is extremely important and I have written about how Singapore and Kuala Lumpur better be closer together because we are both VERY SMALL in comparison to all our neighbouring countries in ASEAN. Yes, we will be connected by the High Speed Rail (HSR). Just a few days ago, I was in JB and I visited KSL Mall. Singaporeans were everywhere. In fact three different stall / shop owners thought my wife and I were Singaporeans. With HSR, it need not be just JB as the closest point, it can be anywhere along the HSR line.

According to
MyHSR Corp Sdn Bhd
 chief executive officer Mohd Nur Ismal Kamal in an article in
Business Times
, he said “We know that it is a potential thing that is going to launch us into the league of mega cities. It creates an opportunity to get the cities where we have stops to grow along and to be part of the mega city. We have seen that happening all over the world.” He gave some examples of positive developments when two cities are connected via the HSR. For example, London-Paris, Tokyo-Osaka and Madrid-Seville. All these cities benefited from faster connections and thus more economically integrated.

What would be the potential long-term economic impact for Malaysia? He shared, “The wider economic benefits stemming from the HSR project is estimated at RM21 billion of GDP in 2060 with 111,000 jobs created based on a World Bank study on other international projects. This is on top of the multiple benefits resulting from the construction, which is estimated at RM70 billion, and the direct and indirect GDP impact of RM29 billion.” What MyHSR is currently doing is thus to work with Malaysian Investment Development Authority (MIDA), InvestKL and state agencies as well as sectors to promote investments into all the cities and towns along the corridor including Bandar Malaysia, Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri.

Yes, I personally love news about the HSR and would try to share this excitement with more people. This would be another catalytic project which can create lots of
new economic benefits
, as long as we continue to benchmark the countries which have done it successfully. Nope, I am definitely not advising anyone to quickly buy properties nearby all these stations. I personally have no such thoughts yet. In fact HSR is not the major catalyst for Iskandar – SG. That major catalyst would have to come from a
closer connection instead; extension

of Singapore’s MTR into JB. Happy following.

written on 18 Oct 2016

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MyHSR Corp: Freeze! Can’t sell

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It’s time to listen, learn and decide. Look for your Home!

When I was in Singapore for a property show, I noticed that Singaporean investors love to listen to talks. This is the same even when the investor is an experienced one. I think this is one trait which Malaysians should also learn. Keep learning and keep updating ourselves because experience is important but the property market is always moving. I would love to attend a property show where the talks continue one after another. That would help me maximise my time in learning more about property market. For those who believe property is an investment or about the potential for the property market in Johor Bahru (Iskandar)? Refer to image.

Time to mark your calendar and attend talks from many different property speakers. They are converging in Johor Bahru from all over Malaysia and I think we should not miss the event. They include many big names including Dr. Daniele Gambero, Ishmael Ho, Khalil Adis, Rohaniah Noor, Mekanik Wang, Mohd Ali Majis, Khairul Anuar Mohamadiah, Kannan Rajaratnam. Event details as follows:

Venue: Plaza Angsana

Date: 14 – 16 October 2016 (10am – 10pm)

Come along with your family because there will also be lots of other activities to keep your kids entertained while you absorb all the knowledge you need and understand what’s available in the market today and in the near future. Happy learning.

written on 28 Sept 2016

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Iskandar property price to surpass Greater KL

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Be there. Jom Cari Rumah @ Plaza Angsana, Johor Bahru.

Updated 11th October. Itinerary for all three days is now attached for your planning. My personal advise? Arrive early, listen to all or as many speakers as you could. From the topics, lots of learning is possible and besides there are so many other things to do there too with your family. See you there yeah. My session? 1230 noon to 130 noon.

You are be in JB. You are be someone looking for that first property. You are getting married and wants to ‘own’ a place instead of ‘rent’ a place. You prefer to have many different speakers providing knowledge instead of sales pitches. You would like to know if It’s time to visit the upcoming Jom Carirumah @ Plaza Angsana in Johor Bahru. Within this show would also be a booth for Setiausaha Kerajaan Johor (SUK) who will be able to answer your queries with regards to potential affordable homes that you wanted. MyHome (JB) booth would also be there and they would be able to provide answers so the upcoming affordable homes that you qualify. Shop around for potential loans from the many bank booths which will be set up there as well.

Time to mark your calendar and attend talks from many different property speakers. They are converging in Johor Bahru from all over Malaysia and I think we should not miss the event. They include many big names including Dr. Daniele Gambero, Ishmael Ho, Khalil Adis, Rohaniah Noor, Mekanik Wang, Mohd Ali Majis, Khairul Anuar Mohamadiah, Kannan Rajaratnam. Event details as follows:

Venue: Plaza Angsana

Date: 14 – 16 October 2016 (10am – 10pm)

Come along with your family because there will also be lots of other activities to keep your kids entertained while you absorb all the knowledge you need and understand what’s available in the market today and in the near future. Happy learning.

One event to achieve your property goals. See you there.

written on 7 Oct 2016

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Iskandar property price to surpass GreaterKL

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Jom Carirumah @ Penang – Understand what’s really happening.

Penangites, especially those who are looking for affordable properties, time to spend some quality time. My good friend Rozalina told me about an opportunity for first-time home buyers to really listen and ask questions from many different property experts in the Jom Carirumah Campaign for the
affordable housing
. Look at the poster for details of who’s on which day. All are experts in their own field. This is the Penang edition. Details as below:

Jom Carirumah Penang – Sunway Carnival

Date : 8 to 12 September 2016

Official opening on thursday at 11am

This is the 1st Bumiputera Property Campaign in Penang that focuses on property education. Learn before we intend to buy. SUK booth will be open from 10am to 10pm from 8 to 12 September 2016. JKP and PDC booth will also be there besides other developers. This is a one stop centre where you do everything you need there. Our Bank Negara Malaysia (BNM) would also be there to check & print CCRIS for free

Other details:

Theme : To understand the real property Market scenario

Focus : Educating on the right way of property ownership, processes and the Do’s & Don’ts in Property investment

Campaign Motive : Every Malaysian to own a Property

This event focusses on developing/building ‘street smart property buyers’

(Generasi Celik Hartanah) The chosen developers are the developers that has good track record in delivering their homes. In our events we scrutinize the developers who participate to minimize the risk of the buyers through our campaigns. The event’s focus is on
personal finance education
 as well as  safe investments. This will avoid the Gen-Ys from going into bad debts. These days, the debt ratio for them is increasing and property is an asset….See you there.

This event is brought to you by ReConsult. The
full brochure is here.

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