Latest: Mall traffic rising. Most returned to pre-COVID levels. That’s versus March 2020.

Is mall traffic rising? It seems to be the case for majority of malls.

I just wonder why I did not receive even one forwarded message from my friends on this piece of good news about the malls. Somehow everyone just love to forward news about which mall is dying, which mall is closing down and every time there are news that online shopping will kill malls etc. Everyone has forgotten that online shopping in some countries are even more advanced than Malaysia but their malls are still around. Haha. Okay, let’s see if got at least a few people start to forward this article.

Article in themalaysianreserve.com
  Retail Group Malaysia MD Tan Hai Hsin said shopping traffic for the majority of malls in the country has returned to a pre-Covid level since the second Movement Control Order (MCO 2.0) was lifted. He said, “After a long period of lockdown, Malaysians have been eager to return to malls for their shopping, dining, recreational and entertainment activities. Cafes and restaurants have been enjoying a good number of dine-in customers since MCO 2.0 was lifted, while cineplexes have also recorded a good response rate since government regulations allowed for its reopening.

Mydin Mohamed Holdings Bhd MD Datuk Wira Ameer Ali Mydin said there has been a huge increase in sales and footfall in almost every mall since the fasting period began. He said, “It is good to see, especially with Hari Raya coming up, shops all packed to the brim. The only thing I would caution is this may not last the entire season, as Covid-19 positive cases have started increasing. Maybe stricter standard operating procedures (SOPs) could be implemented.”

Meanwhile, Suria KLCC Sdn Bhd CEO and ED Andrew Brien said, “Shoppers are actually returning to their favourite stores, while F&B outlets at our malls are seeing improvement in sales following the relaxation of the MCO 2.0. We are very pleased that our malls can usher in the happiness and joy of Syawal in about less than a month’s time, in line with the overall resumption of economic activities nationwide after a long period of staying-at-home ruling by the government.”   Please do read the full article here:
Article in themalaysianreserve.com

Personal experience?

It’s still possible to get a parking spot in 1 Utama even if this has become harder for the last few weeks. The dining shops, especially the usually popular ones are experiencing queues again during lunch and dinner time. The ones who are not so popular may also get some spillover and they too are doing well. Just last weekend, I went to 4 shops before finally choosing a shop which is not so popular for my dinner. It’s crazy yeah. Probably the reason is also because it’s the time for buka puasa, so I totally understand too.

Personal advice?

There are friends who say that visiting the mall is far too dangerous and that visiting a small restaurant is safer when it comes to COVID-19.  I just wanted to say that with face masks and social distancing and the alertness, everywhere is safer versus if we are without mask, worn the mask wrongly or even just did not bother to continue using the sanitizer. While the malls have more people, it also has more continuous cleaning, stricter checking and larger space to move about.

The small restaurant would have fewer patrons of course but it may not have sufficient periodic cleaning and most of the time, there is just the temperature scanner but no one is looking. So, to me, both are the same and there’s no such thing as one being safer than the other one. If we truly want to be 100 percent sure, then perhaps only going out after vaccinations may be a better choice. For me, I prefer to take the necessary precautions.

COVID-19 is here to stay for some time more and assuming we achieve 80 percent vaccinations by end of the year, it meant that it’s going to be almost the same for the next 7 months. Stay safe everyone.

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A brief update – latest milestone

kopiandproperty.com was started by me from a bed in Damansara Specialist Hospital on 28th November 2013. Yes, just 21 months ago. Today, kopiandproperty.com has a total of 1,140 articles. 98% written by me. 🙂 Grateful to the 2% external writers. Thank you everyone who has read, shared or commented. Just refer to the two images. One tells of past 12 months in terms of actual visits. Another tells of the top 9 visitors by country. 70% from Malaysia while remaining 30% are from overseas. Within 2015 thus far, kopiandproperty.com has been visited by visitors from
132
 countries. Cool.

Oh yeah, I normally only update it
here
. However, an IT specialist friend (SEM) told me that I should let all my readers know at least once per year. So, this is what I am doing. Enjoy reading and please keep all the feedbacks coming whether to encourage or to remind or even to teach. All are accepted.

as at 31st August 2015

charles tan.

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Latest. OPR increased by Bank Negara Malaysia

Important Property Investment tip?

Never over-stretch. Else, as soon as the interest rate is raised and our repayment starts going up, we will start to worry. Yes, this has happened. Bank Negara Malaysia (BNM) I think must be feeling a lot of pressure especially with the inflation numbers and even the many analysts which said it’s time to increase the rate. Earlier, BNM said second half. Now, it’s raised already at the Monetary Policy meeting today, 11th May 2022.

Start of Press Release from Bank Negara Malaysia

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to increase the Overnight Policy Rate (OPR) by 25 basis points to 2.00 percent. The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.25 percent and 1.75 percent, respectively.

The sustained reopening of the global economy and the improvement in labour market conditions continue to support the recovery of economic activity. These have partly cushioned the impact of the military conflict in Ukraine and the strict containment measures in China. Inflationary pressures have increased sharply due to a rise in commodity prices, strained supply chains and strong demand conditions, particularly in the US. Consequently, several central banks are expected to adjust their monetary policy settings at a faster pace to reduce inflationary pressures. The global growth outlook will continue to be affected by the developments surrounding the conflict in Ukraine, COVID-19, global supply chain conditions, commodity price shocks, and financial market volatility.

For the Malaysian economy, latest indicators show that growth is on a firmer footing, driven by strengthening domestic demand amid sustained export growth. The labour market is further lifted by a lower unemployment rate, higher labour participation and better income prospects. The transition to endemicity on 1 April 2022 would strengthen economic activity, in line with further easing of restrictions and the reopening of international borders. Investment activity and prospects have also improved, underpinned by the realisation of multi-year projects and positive growth outlook. However, risks to growth remain, which include a weaker-than-expected global growth, further escalation of geopolitical conflicts, worsening supply chain disruptions, and adverse developments surrounding COVID-19.

Headline inflation is projected to average between 2.2% – 3.2% in 2022. Given the improvement in economic activity amid lingering cost pressures, underlying inflation, as measured by core inflation, is expected to trend higher to average between 2.0% – 3.0% in 2022. Nevertheless, upward pressure on prices would be partly contained by existing price controls and the continued spare capacity in the economy. The inflation outlook continues to be subject to global commodity price developments, arising mainly from the ongoing military conflict in Ukraine and prolonged supply-related disruptions, as well as domestic policy measures on administered prices.

Over the course of the COVID-19 crisis, the OPR was reduced by a cumulative 125 basis points to a historic low of 1.75% to provide support to the economy. The unprecedented conditions that necessitated such actions have since abated. With the domestic growth on a firmer footing, the MPC decided to begin reducing the degree of monetary accommodation. This will be done in a measured and gradual manner, ensuring that monetary policy remains accommodative to support a sustainable economic growth in an environment of price stability.

Bank Negara Malaysia
11 May 2022

— end of press release —

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Latest update, Interest Rate, Malaysian economic situation

Malaysia central bank governor Zeti Akhtar Aziz said that a prolonged period of accommodation could encourage investors to misprice risk and misallocate resources. In laymen terms, this simply means that interest rate cannot be low all the time because people may take too much risks and simply buy,buy, buy or also known as speculate.  This is quite a sure sign that the increase in interest rate would be happening really soon. How many basis points? That’s up for debate. 25 basis points or even 50 basis points, perhaps.

Nevertheless, the overnight policy rate was maintained at 3 percent yesterday. What would happen if the rates were to increase? Assuming the fundamental remain same, Ringgit value should appreciate a little. Thus far, Ringgit has risen 2.8% in the last 3 months. In other words, if you were those who are currency investors and you bought Ringgit, you should have been able to profit a bit and if the interest rate goes up, perhaps the Ringgit continue to trend upwards. Note, only if everything else remains the same.

Bank Negara Malaysia also said that as of now, the economy remains supported by domestic demand and its exports will benefit from a recovery in advanced nations and regionally. Private sector spending is expected to remain robust. Investment activity is supported by broad-based capital spending, particularly in the manufacturing and services sectors. Private consumption will be underpinned by stable income growth and favourable labor market conditions. In laymen terms, it means Malaysians are still buying. Just look at the queue outside certain restaurants during lunch hours, as well as people who are buying new mobile phones plus new cars which are all above RM70,000 or higher or even the always full of people coffee chain, Starbucks. The new malls, the new retail stores, the revamping of old buildings into new boutique hotels, all these continue to happen non-stop. In one sentence, at this moment and near future, everything seems fine.

written on 10th May 2014

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Latte at Kay’s (Tropicana Mall)

Presentation is above average. I like the glass accompanying the latte. In terms of taste however, I think it’s too bland. The coffee somehow does not show itself and the milk is somehow not milky enough for my taste. Overall, it’s just a very normal glass of latte. Rating: 5/10, propped up slightly by its overall presentation. at RM8 per glass, I think it’s overpriced for the quality. Until the next glass/cup of latte. 🙂

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Launched 3 weeks ago. Fully taken up now.

If Sungai Buloh is a choice within your home choices, this may be good news to you because it proves that despite current situation, the response for Sungai Buloh homes remain healthy. Of course, the design and the price and the developer is also important yeah.  Happy reading.

Press release by Glomac Berhad. TRESNA TRIANDRA FULLY BOOKED WITHIN THREE WEEKS

Sungai Buloh, 12 August 2020 – All of the two-storey terrace houses named Tresna Triandra,
developed by award-winning developer Glomac Berhad, have fully taken up within just three
weeks of launch.

The 20’x 70′ residence is one of the new housing development phases introduced by Glomac
which has been developing the Saujana Perdana township in Sungai Buloh area.

“A total of 120 units of Tresna Triandra were launched in mid-July and the response from buyers
was overwhelming because all the units are fully booked now,” said Glomac’s Chief Operating
Officer (Operations) Encik Zulkifly Garib. He added that response to Tresna Triandra was due to
the aggressive online promotion campaign launched by Glomac in June.

Many visitors had attended the launch held in Mid-July to make the booking payment for the unit of their choice while others had wanted to already sign the sale and purchase agreement
immediately.

Encik Zulkifly added that Tresna Triandra is a residential development tailored for young families,
whose key criteria when finding a family home includes having a good size and reasonable
pricing, and within their financial means.”Triandra seems to have met all the key conditions they
dreamt of.”

The residence boasts of four bedrooms and three bathrooms with a build-up area of 1,750 square feet. It is located among the mature municipal areas on the outskirts of Sungai Buloh. The Saujana Perdana area has a good connection network with easy access to highways as well as close proximity to facilities such as schools and educational institutions, places of worship,
healthcare facilities, restaurants and convenience stores, all of which offer comfort, convenience and easy connectivity to its residents.

Easy access via major highways includes NKVE, BACKGROUND, DASH and Guthrie.
Homeowners in this municipality will enjoy the facilities of five schools in and around (SMK
Saujana Utama, SRK Saujana Utama, SRK Seri Pristana, SRK Merbau Sempak, and SRAI
Saujana Utama), three mosques and four university campuses (Universiti Teknologi Mara Puncak Alam (UiTM), UiTM Puncak Perdana, Universiti Selangor and UiTM Shah Alam).

Selling price starts at RM483,800 for intermediate units. “Triandra is in the middle of a matured
residential area where access to facilities is abundant. This will make life experience more
satisfying and valuable for the community here,” said Zulkifly.

He added that Tresna Triandra is part of the development of the 200-acre Saujana Perdana
municipality developed by Glomac over the last 4 years. The area is matured with various types of comprehensive residential network such as Town House, 20’x60’ Terrace House, 20’x70’ Terrace House and 22’x75’ Terrace House.

A home buyer Zabidi Salleh, 35, said he has relatives living near Tresna Triandra and he found
the development there suitable for his young family. “All necessities such as kindergartens,
schools, shops, clinics, banks are all nearby. Sungai Buloh is actually only 30 minutes from KL
city center. I chose to buy Tresna Triandra for this reason as well as its affordable product
appreciation,” said the IT technician.

Meanwhile, Melati Mohd Zakry has long wanted a house in the Sungai Buloh district because her
elderly parents live there. Her decision to buy the Tresna Triandra home was made when she
found out about the easy-to-own package especially formulated by Glomac. “The package offered by Glomac is unique and makes my first home purchase much easier,” said the 32-year-old mother.

The overwhelming response towards the launch of Tresna Triandra will help drive the next
Glomac development. Tresna Triandra has a Gross Development Value (GDV) of RM62 million.
It is part of the 538 units of residential products that Glomac will launch in FY21 with an estimated GDV of RM226 million, all at the Saujana Perdana development.

Other housing projects in Saujana Perdana that was successfully launched by Glomac includes
Mayang Sari, Tresna Teratai, Tresna Teruntum, Bidara Sari, Cemara Sari and many others.

— end of press release —

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LAZADA’s local brands focus. Malaysian sellers have reached 35,000.

Press Release:
LAZADA SHINES SPOTLIGHT ON LOCAL BRANDS AND SELLERS AT MERDEKA DAY & MALAYSIA DAY QUAYSIDE FIESTA

Now Everyone can Sell as LAZADA Brings Offline Shopping Online Experience to Malaysians Thanks to Partnership with MDEC and GAMUDA Land

KOTA KEMUNING, 2
nd
 SEPTEMBER 2018
 – Local brands, sellers, and products were the centre of attention during the ‘
Merdeka Day & Malaysia Day Quayside Fiesta
’, thanks to online shopping giant
LAZADA
. The event took place at GAMUDA Land’s Twentyfive.7 township in Kota Kemuning over the weekend, where hundreds of modern and traditional Malaysian creations ranging from foods and handicrafts, to apparel and home and living were on display at the LAZADA Bazaar.

The marketplace bazaar was held in conjunction with property developer GAMUDA Land, along with the support of Malaysia Digital Economy Corporation (MDEC). Hundreds of visitors flocked to the outdoor lifestyle market, eager to snap up promotions and sales. 25 retail pop-up stalls were set up, featuring selected vendors such as
MaryamBayam
,
Hanalluna
, and
Pentec Online
. Customers were able to buy products by scanning LAZADA QR Code at the sellers’ stores with the added convenience of having the products delivered to their front door.

The bazaar was the perfect platform to showcase how LAZADA eases adoption of e-commerce for all businesses and individuals.
“Thanks to our partners GAMUDA Land and MDEC, we were able to bring the curated, personalised shopping experience of LAZADA to visitors of the Merdeka Day & Malaysia Day Quayside Fiesta,” said
Christophe Lejeune
,
Chief Executive Officer
 of LAZADA Malaysia. “We wanted to show how people from different walks of life are able to come together and utilise e-commerce to improve the lives of not only their customers but also themselves. Now everyone can sell online to anyone, anywhere with LAZADA.”

Merdeka Weekend of Food and Fun-filled Activities at Twentyfive.7

The Merdeka Day & Malaysia Day Quayside Fiesta featured an Eat Drink KL food market with delicious, innovative offerings from Malaysia’s F&B scene, such as Bijipops’ twentyfive.7 Malaysia Day Pops, Sundaydotruck’s homemade cakes, fresh homemade sambal by Aiden Picnic, and Markonah Food & Co.’s mango pulut. Visitors were also enthralled with family fun activities, nostalgic traditional games, outdoor movie screenings of Ola Bola and Hantu Kak Limah, as well as home-grown performances by Jimmy Pua and a Mak Cik Satay dance.

“GAMUDA Land is one of the earliest Malaysian companies to fully undergo digital transformation and integrate digital technologies into our business process,” said
Chu Wai Lune
,
General Manager
 of twentyfive.7, GAMUDA Land. “With the support of MDEC in this fiesta, we recognise the importance of supporting Malaysian businesses to be part of the e-commerce platform. This is why we were happy to partner with LAZADA and develop a platform where fiesta visitors and customers could interact with local brands via the LAZADA mobile app.”

Restoring Dignity for Marginalized Communities Through MyPride Initiative

The LAZADA Bazaar also had on sale several handicrafts made by inmates of Kajang prison. This was thanks to an MOU (Memorandum of Understanding) signed by LAZADA Malaysia and
MyPride Penjara
  – an initiative by the Malaysia Prisons Department to provide opportunities for marginalised communities to build vocational and entrepreneurial skills while providing meaningful consumption at all levels. The partnership will also see MyPride Penjara handicrafts being sold online through
LAZADA Malaysia’s platform
.

“LAZADA is leading the way for e-commerce platforms, and we are happy to facilitate the transition for Malaysian sellers to open their stores online. This is part of our objectives to drive Malaysia’s digital economy ever since we launched Malaysia as a Digital Free Trade Zone,” said
Sumitra Nair,
VP of Talent and Digital Entrepreneur
 at MDEC. “Malaysian sellers and SMEs today are exposed to global and regional marketplaces thanks to LAZADA Malaysia, and we will continue to drive demand for Malaysian exports through enhancing Malaysia’s efficiency and competitiveness in e-commerce fulfilment.”

“Those who have repented and already served their time can find it hard to find meaningful job opportunities and income,” said
Haji Wan Ramzan bin Wan Ahmad
,
Senior Assistant Commissioner
 of the Malaysian Prisons Department. “Today’s e-commerce platforms such as LAZADA allows marginalised communities to develop and sell their wares online from anywhere in the world – even from their own home. Thanks to LAZADA and MDEC, My Pride participants are able to obtain a legal source of income that restores dignity and meaning to their lives.”

Growing Young Entrepreneurs Via e-Commerce

The LAZADA Bazaar and MyPride Penjara initiatives at the fiesta are also part of LAZADA’s long-standing support to nurture young innovative entrepreneurs. In line with LAZADA’s “Everyone can Sell” messaging, LAZADA will also conduct an
e-Commerce Seller Conference
 in Malaysia next month for those who want to learn more about entrepreneurship and enhance their skills with the right knowledge tools and latest digital marketing insights. The conference will be held at Malaysia International Trade and Exhibition Centre (MITEC) on the 25
th
 and 26
th
 of September 2018.

LAZADA is Southeast Asia’s largest online shopping platform, empowering people to buy and sell through the power of e-commerce. Consumers can enjoy an effortless shopping experience with desired brands and sellers via the LAZADA mobile app, which is now available in the
iTunes App Store
 or
Google Play Store
.

For more information on LAZADA, please visit
www.LAZADA.com.my

Webpage

www.lazada.com.my

Facebook

www.facebook.com/LAZADAMalaysia

Instagram

www.instagram.com/lazada_my

Twitter

https://twitter.com/lazadamy

HASHTAG

#EveryoneCanSell

###

ABOUT LAZADA GROUP

Launched in 2012, LAZADA is the number-one online shopping and selling destination in South East Asia – present in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. As the pioneer of the eCommerce ecosystem in South East Asia, LAZADA has 155,000 sellers and 3,000 brands serving 560 million consumers in the region through its marketplace platform, supported by a wide range of tailored marketing, data, and service solutions. With 300 million SKUs available, LAZADA offers the widest range of products in categories from consumer electronics to household goods, toys, fashion, sports equipment, and groceries. Focused on delivering an excellent customer experience, it offers multiple payment methods including cash-on-delivery, comprehensive customer care, and hassle-free returns through its own first and last mile delivery arm supported by approximately 100 logistics partners. LAZADA Group is majority owned by Alibaba Group Holding Limited (NYSE: BABA).

For additional information and assistance pertaining to the Quayside Fiesta, please contact:

Charmaine Goh

M

+6017 880 6829

E

charmaine.goh@rootsasia.com

O

+603 7494 0292

W

ROOTS PR Sdn. Bhd.

— end of press release —

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12-24 months more and Penang will have new LCC airport!

Good news, definitely. How about millions of potential new visitors into Penang? Good news for long-term property owners too. Anyway, this was what was shared by Malaysia Finance Minister Lim Guan Eng. He shared that within 12 -24 months, Penang will likely get a new low-cost carrier (LCC) airport to serve airlines like AirAsia. This is as per federal government’s plan to call for a bid by private companies to do so.
Full report in FreeMalaysiaToday here.
 He also shared that the project would be fully funded by private companies as the federal government did not have enough funds to build a new airport for the time being. For everyone’s information, this was the earlier report about the
Penang International Airport. It’s already at full capacity.
  The capacity is 6.5 million but the total arrivals have reached 7.1 million. He then shared this, “So we are forced to find new ways by cooperating with private parties such as AirAsia to carry out expansion works in the nearest time and also build a new LCC.”

Some background for everyone to note. PIA was last refurbished to handle 6.5million passengers and this was supposed to last Penang till 2020. It has handled 6.7 million visitors last year. The Penang government is looking at the potential of handling 15 million passengers in the future.  Lim said that the LCC project would take place next to the PIA and share the same runway. He shared, “We have talked to AirAsia and Malaysia Airports Holding Berhad and the reception has been positive. It will be a public-private partnership. But before anything, we want to wait for the outcome of these talks first. LCC can be built quickly, say one to two years. As for the PIA main terminal, it might take longer. The concern now is when we expand, we must be able to recoup it with the volume of passengers to the airport.”
Full report in FreeMalaysiaToday here.

Penang International Airport is currently the 3rd busiest airport in Malaysia. Kota Kinabalu airport is currently the second busiest as it handled 7.9 million visitors last year. Currently, the expansion or a new KK airport is already in the planning stage.
Here’s that earlier report.

Basically, airports must be expanded continuously because these are the connectivity for Malaysian cities with the world. It would be very bad for publicity if the passengers were to arrive for the first time to Malaysia and having to queue a few hours just to pass the immigration or even to take their luggages. In fact, the truth is, 12-24 months is not a short time. Let’s await the next announcement on who’s going to build it yeah. By the way, the 12-24 months start from the construction date yeah, not the announcement date. Happy following and happy Penangites.

written on 6 Aug 2018

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Le Meridien, now in Putrajaya. Experience and relax.

I was trying to book a hotel in Hong Kong yesterday and the prices were crazily high. Well, fortunately for visitors to Malaysia, they have good hotel choices and it’s more affordable too even when compared against most of our neighbours. This week, another international branded hotel has just opened its door in Malaysia. Le Méridien, Putrajaya. This is part of Starwood Hotels and Resorts Worldwide, Ic.  This is one hotel chain that I have been a few times, the one in KL Sentral. If you do have friends coming here for a meeting either in Cyberjaya and Putrajaya, I think this should be a very good choice for consideration. This would be the third Le Méridien, after the one in KL Sentral and Kota Kinabalu.

According to Charlie Dang, Regional Vice President, Southeast Asia, Starwood Hotels & Resorts Worldwide, “Malaysia continues to be a bright spot for our growth and development. With the country’s growing influx of visitors, the opening of Le Méridien Putrajaya is set to be an inspired alternative to a traditional urban hotel stay in the Federal administrative Centre of Malaysia, for business and leisure travellers alike.”

Meanwhile, Lee Yeow Seng, Chief Executive Officer of
IOI Properties Group Bhd said
, “We are pleased to unveil the spectacular Le Méridien Putrajaya, a highly anticipated addition to our properties investment. With its culturally-refined design and atmosphere combined with stunning views of IOI Resort City, the hotel is sure to impress and attract travellers.”

Le Méridien Putrajaya features 353 contemporary guestrooms and suites, boasting expansive city or garden views. Every space showcases a timeless European style through an artful Malaysian perspective with locally inspired motifs and craftsmanship. Upon arrival at the hotel, guests encounter a complete sensory experience in the signature Le Méridien Hub, which reinterprets the traditional hotel lobby into a social gathering place and builds on the brand’s award-winning arrival experience and coffee culture. Le Méridien Hub comprises signature elements from the Paris-born brand such as a 24-hour soundtrack curated by French Bossa Nova band Nouvelle Vague, a variety of delectable éclairs, and exclusive illy coffee prepared by Master Baristas.

The hotel also offers 15 versatile venues for business meetings, conferences or oneof-a kind social gatherings. Creative touch points through visually appealing art and welcoming pre-function spaces help keep guests and delegates engaged and productive throughout any event. A grand ballroom comprises nearly 2,500 square metres of contemporary function space, supported by a dedicated event planning team and the most technologically advanced audio-visual equipment. Recreational facilities include an inviting swimming pool and a special kids’ pool, providing a welcome respite from a day of business and ensuring a fun element to any family stay.

As part of the Le Méridien Family programme, the hotel offers Le Méridien Family Kids Club facility that encourages children to learn and play through its cultural and educational activities. The hotel also presents compelling culinary experiences with two distinctive in-house eateries. Signature restaurant Latest Recipe serves à la carte and comprehensive buffet selections along with interactive live-cooking stations, featuring innovative global flavours and locally inspired cuisine, while specialty restaurant Le Mei creates new interpretations of fine Chinese cuisine.

“The mission of Le Méridien is to expose the creative minded traveller to the most unexpected and engaging experiences, inside and outside the hotel. We are confident that we will be able to offer this distinctively memorable experience at Le Méridien Putrajaya,” said Kumar Renoo, General Manager of Le Méridien Putrajaya. Just 15 minutes from downtown Kuala Lumpur by high-speed rail link, and 30 minutes by car from Kuala Lumpur International Airport, Le Méridien Putrajaya is ideally situated within close proximity to Putrajaya’s key commercial and retail districts. With wide boulevards and expansive greenery, the area incorporates cultured design that transcends the old and new.

Also, guests are just steps away from a host of leisure facilities such as an Olympic-sized ice skating rink, an entertainment park in the largest shopping mall in Southern Klang Valley, the Botanic Gardens and the distinctive pink-domed Putra Mosque. Other recreational activities include golf, nature walks and an open air cruise on the 650-hectare man-made Putrajaya Lake. Opening Offer To celebrate the opening, Le Méridien Putrajaya is offering a special ‘opening package’. Rates start from MYR360++ per night for single occupancy in a ‘Signature Room’, including breakfast for 1 person and high-speed Internet access. SPG Members will enjoy double Starpoints® upon booking this package for stays from 1 September to 31 December 2016. For more information or to make a booking, please visit
www.lemeridien.com/putrajaya.

written on 19 Aug 2016

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Bandar Puteri Warisan by IOI, a comfortable home in Sepang

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In brief, just some good ideas to pay attention to

Some good ideas to pay attention to, especially when we invest our hard earned money. Tan Sri Abdul Wahid Omar is someone worth listening to because he is a professional. (not a politician….)  🙂
Here’s a little information about him by ICAEW.
(Institute of Chartered Accountants in England and Wales). Anyway, the following is an excerpt of the interview which TheStar did with Tan Sri Abdul Wahid Omar.
Full interview withTan Sri Abdul Wahid Omar.
 Briefly, some of the ideas he shared during the interview. Good ideas for longer term investment strategies.

Save some during good years, use the savings during bad years.
 Remember the story of the lazy grasshopper and the hardworking ant? Economic cycles come and go. This is why during those years when we were earning huge bonuses, some of it should been saved or invested because nothing lasts forever. There will be time when we earn lesser and may need to use some of our reserve funds.

Has PNB invested in Fintech?
 “No, because we don’t know enough and we need to learn a lot more before we are brave enough to invest in those areas. Of course, it is something that we can’t ignore. We need to learn and decide. Yes, the potential upside is there, but then there is also the potential downside.” (
This is so true because a fintech is almost always online and
even some of those internet companies receiving the most funds

for many years may not be profitable yet! )

I think if you look at public property companies, if you are not highly leveraged, then you will have the (holding) power.
(This is very true and is one reason why many who bought many properties just a few years ago are now struggling to pay for them. When rental falls, prices would follow too. Actually, if we are not highly leveraged, we can even find good deals today and loan approvals would still continue)

Full article in TheStar here.
I have two more sharing as a working professional for nearly 20 years after graduation. Increments are merely enough to cover the official inflation numbers but not our own inflation which may be far higher.
Higher increments than average depend
 on one’s own diligence and is usually reserved for the above average working professionals. Just like before investing in a property, we would conduct our own due diligence.  Secondly, without investing what we have to
maximise its returns,

we will have less when compared to those who did. That’s why professionals within the same field would still have different levels of wealth after sometime, perhaps 10 years later. Investing is definitely not speculating or gambling, yeah. Cheers.

written on 26 Aug 2017

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Do we learn anything from people’s acquisition of ‘cheap’ assets?

When the stock market is bullish, people think that the high valuation of a company is justified. Surely next year their profits will be higher, so the share price is now going up in anticipation of that. There’s nothing wrong!  When the stock market starts its bearish mood, we suddenly think that the valuation for the companies should just go lower. After all, with such a situation, surely their profits would be lower next year. So, the share prices should reflect that performance now.

True? For the majority of us, it seems to hold true. For some, the opposite track seems more appropriate. Warren Buffett said this famous quote, ““Fearful when others are greedy and greedy when others are fearful.” In other words, he will sell when everyone wants to pay highest prices and he will buy when everyone wants to sell. What is not so clear is how do we choose what to buy?

Article in thestar.com.my
   Many tycoons and companies in Asia are looking for acquisition targets.  The reason is because some of these assets are already at a bargain level due to the effects from COVID-19.    Some of these include Victor Li of CK group of Hong Kong, Guo Guangchang the founder of Chinese conglomerate, Fosun Group. Group deputy head of research at CLSA Ltd Jonathan Galligan said, “This is a tremendous opportunity for any company with cash.”

This may not be easy as many countries are trying to ward off predatory buying. Policy makers from Australia to Spain, Italy and Germany are introducing or considering stricter rules to shield strategically important domestic companies.  The COVID-19 pandemic will cause a lot of businesses to fail after people spent days in lockdowns and thus unable to spend.   In the U.S.. 50,000 retail stores have shut within just over a week. Please refer here for a comprehensive
Article in thestar.com.my

If I look back at the few crisis which has happened when I am mature enough, one thing I learnt is this:  The crisis will find an end and the recovery will find a start. During such a crisis, many companies will fail while the few companies which survive will now become market leaders because some of their competitors have failed. If we look back in the history of companies, we could even see some strong companies deliberately sell at such a low price that its competitor could not follow or follow and die.

It is also during this time that we could find potential good buys which has become ‘affordable’ because not many people wanted to buy them. They were afraid of the uncertainties. Yet, for those who could hold on or have spare cash, they just need to do enough due diligence, buy and wait. When the markets recover, many are suddenly open up to buying that cheap asset they bought at a much more expensive price.

My good friend Ms. Agnes Wong the managing director of
Syarikat Ong said in a recent FB LIVE, ‘Spare cash is king.’
 This statement teaches us two things.  If we have spare cash, better start looking for good assets to buy. If we do not have spare cash, we either find them or we start building it today for that next crisis. As for all those tycoons and their actions in looking for cheap assets, they are teaching us the lesson of how they got to where they are today. Happy understanding and learning.

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Easy to follow stock investments – ‘super-rich suddenly not possible’ ok

Another friend asked me about stocks that I have bought. Actually, I am passive when it comes to the stock market. I love them (stocks) but they are more of a ‘fixed-deposit’ to me. In other words, I would buy those which overall debts are always lower or better still, very little debts. No wonder I am still not able to retire from stock investments. Haha. To those who wants to know how to buy good stocks, here’s an earlier article:
Good notes for stock investing from an investment guru

As for those who just want to buy what is considered a blue-chip company, here’s a list for your review. (Image). These are the stocks that Permodalan Nasional Berhad (PNB) has stakes in. It’s current PNB group chairman is Tan Sri Abdul Wahid Omar. At a glance, all these companies are considered very good companies in their own right. From banks to plantation counters to utilities, construction, telecommunications and more. More than enough choices to show two things. There are a lot of really good blue chip companies within BURSA and since PNB is still providing dividends year after year, perhaps these stocks that they buy could be stocks that we buy too. Hey, just 1,000 units of each of these perhaps?
Full article in TheStar here.

How much is 100 units of each of these companies anyway? Okay, let me do some homework then. Take a look at the image. 🙂   The information is true, as at end of 25th Aug 2017. We need just RM17,575 and we could hold the same companies that PNB holds. To know about the target prices for these companies, this is a good website to take a look:
i3investor.com
Some of these companies have already exceeded its target prices. Some are slightly below their target prices and a few are below their target prices. I will tell you that next week, I will buy two counters. Buy a bit, just to keep. If it goes up by 20 percent within a few months, will sell for a family trip to Langkawi. Else, keep loh. Both companies have target prices which are above their current closing price. MMC is in ports and logistics. Basically, when exports increase, MMC benefits. Tenaga is the one providing us electricity everyday. As long as oil price and its other input costs remain at current prices, Tenaga will benefit. This is what Macquarie Research says about Tenaga. “MQ Research maintains an “
Outperform
” rating and a
target price of RM19.00
 for TNB.”
The source of this research is here.
Note that there is no such thing as a guarantee that whatever a research company says would come true.
The full article in TheStar here.

All these companies tell us again that no company could earn extraordinary profits every month. (Do check the companies annual reports to understand more) That’s why anyone / any company
promising us exceptional returns

should be viewed as extremely unlikely and it’s best to skip it. It is also important to use what we know in order to invest better. There is also no such thing as a top 10 must invest stock because every research firm would have their own top 10 stocks too. Happy buying and keeping.

written on 26 Aug 2017

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Leasehold to freehold application? Nice to note.

In a news report in Bernama few days ago, MK Land founder Tan Sri Mustapha Kamal Abu Bakar said applications to change the leasehold status to freehold for houses in
Damansara Damai

may be forwarded to the state government for consideration. Yea, do note that nothing has been forwarded yet as per the statement but since it is now reported, we can continue to follow this. MK Land’s unit Medan Prestasi was launching the sales the first phase of Residensi Suasana @ Damai condominium. This would be the group’s final project in Damansara Damai.

Total number of units would be 780 units and of the 260 units being offered in first phase, some 65 percent has been taken up. Do note that buyers would still need to have their loans approved.These days, it’s definitely tougher to get loans approved. Total Gross Development Value (GDV) is RM400mil. Currently, a discount of 17% on the normal price of RM450,300 is available for a limited time on Residensi Suasana @ Damai. The condo is located about 800m from the Damansara Damai MRT station, under the
MRT Line 2
. Full completion of the development is expected to be 2019. MRT Line 2 is expected to be operational by 2021 and 2022. Looks good on paper. Anyway, MRT Sungai Buloh is merely minutes away by drive. That will start soon….

He said Petaling Jaya City Council would be announcing more details on the plans for the four urban parks covering 16.18ha in Damansara Damai. No commercial developments would be built in these four parks. What’s available in Damansara Damai? What are some of the usual reviews? Well, take a look at
propsocial.my
‘s current review. Yes, McD, KFC, Pizza Hut and even many teh tarik restaurants are available within Damansara Damai. It includes also RM1.20 nasi leak every morning which is considered HUGE in portion and SMALL in price. The negative as per nearly everyone of my colleagues is that there are lots of flats and it’s SO FAR away though none of them could leave their home at 730pm and still arrive in office at 830pm. I could. Happy thinking.

written on 28 July 2016

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Buy this leasehold island. It’s yours until the year 2853.

Buy this island. It’s yours until the year 2853.

An industry friend posted this message in his FB page.  He says now someone could own a prvate island and that the auction reserve price will start from RM121.5 million and with this price, it’s just RM4.80 per sq ft only. Looks very cheap in terms of per sq ft.

The island is in Sabah yeah. So, the leasehold is quite special, 999 years.

What can you do with an island?

Turn it into a resort island! Okay, more funds needed. lots of funds infact.

Resell it to someone else for a profit! Okay, that’s definitely some plan. Who knows the buyer already have a potential buyer in mind? (same mentality as the ones looking for undervalued properties in the auction market)

Do nothing. Sometimes, some people have just too much funds and they like to spend some of it on something they just want to own and yet do nothing about it.

Move there and stay there. This is definitely a dream come true for people who just do not want to have any other people near them. Full of privacy and quiet nights.

More things that one could do if one wins the ownership for this island. Happy bidding!

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Leeway please, banks. Priority to the B40 for a home.

We should help all Malaysians needing a home to have a home. It may not be forcing them to buy immediately but perhaps the government could build homes and set them on the path of rent to own instead.
Unsold units? Rent them out instead?
Of course it could also be via providing them with financial knowledge too. These days, we could see that when it comes to the property, there are many ministries which are very concerned and continue to do their best to help the B40 households own a property. Latest one may not be so readily welcomed by the risk officers of banks.

Article in Edgeprop.my here.
Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad advised the banks and financial institutions to do to help the B40 households own a home; give more leeways to applicants. He said this is to support the government’s inspiration to give priority to the B40 group in house ownership. He said that banks should also take into account the income from part-time jobs.

He said, “Most financial institutions combine the income of husband and wife to determine whether or not they qualify to take a housing loan, so why not take into account their side income as well?” He added, “But of course the applicants will have to show evidence of their side income for a reasonable period of six two 12 months to support their applications.”

He was speaking to reporters after checking the development of ‘Rumah Idaman Rakyat’ housing project by Syarikat Perumahan Negara Berhad (SPNB) at Kampung Santong near Paka, here yesterday. The project offers 229 units of affordable houses, 70 units of which are single-storey terrace, 60 units of double-storey terrace, 76 units of semi-detached houses and 23 units of shop lots, which are expected to be fully completed by June 2020. Raja Kamarul also said that they will monitor the purchase of all SPNB houses so that it goes only to deserving buyers. He said, “Yes, we have been deluged with complaints about the selection of buyers of SPNB houses and other low-cost houses being based on certain quarters’ whim and fancy. We will ensure that it will not happen again under the new government. We want to ensure only those who are qualified, especially first time buyers, will own the houses.”
Article in Edgeprop.my here.
?

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written on 6 Feb 2019

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Legalised? Great. Focus on service. Drive for extra.

When I was in Hong Kong just a few weeks back, there was a T8 announced. T8 is a typhoon announcement. My colleagues were allowed to go home earlier and should the T8 continues, the staffs would not need to come to work. So, I took the train from the HK airport to Hong Kong Station. Journey was smooth. Hong Kong station was barely 4km from my hotel. When we arrived, we saw a long queue for taxi. When it came to my turn, I told the taxi my hotel address and he said HK$500. Huh?? I asked again and he said even if I asked all the taxis queuing up behind him, the price would be the same. I Whatsapped my staff and asked if I should proceed. She replied, ‘I will book a UBER car for you.’ It came in 8 minutesand the total fare? Refer to the image. Total came to HK$67.65 after a small surcharge due to some sort of inconvenience. The driver was a working professional during the day and was driving in the evening for some extra income. When I arrived in office the next day, my Hong Kong colleagues were surprised with the taxi fare quoted but some of them did say that due to T8, the taxi drivers would charge much higher because there is a risk to them and their taxi too. By the way, UBER is STILL not legalised in Hong Kong.

Malaysia has just legalised both Grab and Uber.
Article in TheStar here.
It says that Amendments to the Land Public Transport Act 2010 and the Commercial Vehicles Licensing Board (CVLB) Act 1987 required e-hailing providers to have licences and health screening for their drivers. SPAD said that the change would help to ensure e-hailing operators and drivers adopt the highest levels of safety and service standards. “This includes mandatory background checks by SPAD, the police and the Road Transport Department.” The article also quoted many comments from Malaysians who feel that this move would make the service better. Some felt that it will be safer and some says that with this, should anything happen they could take legal actions against the company. Many say that they will use the service more often since it is cheaper. (Hmm…. with the compliance cost, it may not be exactly as cheap as today but I do believe competition should help with the fares)
 For the full article, refer here.

I would usually WhatsApp my taxi driver instead of GRAB here in Malaysia, unless he is not available. The reason? I know him and he has never overcharged me. However, I have been personally overcharged by the typical taxi drivers before. My colleagues have been overcharged before. In fact nearly everyone I know say that they have been overcharged before. So, I do hope that this new competition from GRAB and UBER would provide even more competition to the existing taxi companies to work harder. Ensure the drivers are really doing it for a living and not like a get-rich-quick scheme. I also hope however that GRAB and UBER starts to focus on the service instead of ‘killing’ one another through low fares which are actually artificial and is not the real fares. As for the drivers driving for them, it would be good to do it professionally. Happy riding, whether it’s taxi or GRAB.

written on 29 July 2017

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Lending to everyone is not helping the borrower, actually.

If we are buying a RM300,000 property
and could not get our loans approved,

should some financial institution approve it so that we could still buy that RM300,000 property? Well, there is a potential new bank which will be set up to lend to borrowers for homes worth below RM300,000. Okay, there are no further details. For example, would this be a last resort bank? After borrowers have failed to get a loan, then they could apply to this special bank? Would this be a competing bank to all other banks for these RM300,000 and below loans? If it is competing, will it be fair to all the other banks? How much funds would this new and special bank has? It could not be unlimited, right? Of course there are many other questions including the PTPTN example. If borrowers fail to pay, would discounts be given? When borrowers could not pay, then would it be listed in CCRIS? And thus affecting their future? Including leaving the country for a holiday? Here’s that article in
housingwatch.my for reference.

This is what National House Buyers Association of Malaysia (HBA) says with regards to this special bank. HBA says it is concerned because this may lead to more bankruptcy cases. HBA’s Chinese division head Tan Chong Leng said that banks would only approve loans after they have assessed each borrower’s debt level through CTOS and CCRIS. (He meant that the banks would be very careful in their approval process and I think this should be the case for all loans. There should not be any ‘friendly’ loan approval for example, if you know my meaning)  However, Tan said that when the banks no longer look at the household debt level, then this is not helping the borrower but will actually be a burden to them. If the buyers fail to pay the instalments, they may receive warnings from the banks and even see their houses being auctioned off and the buyer may be declared a bankrupt.
Here’s that article in housingwatch.my for reference.

I think my views have been expressed above but frankly speaking, this new bank is not the best solution to helping buyers get their first home. Perhaps instead of helping
them to OVERSTRETCH themselves,

how about educating them with more financial awareness? A very real example? Secondary properties should be considered first since it’s usually cheaper and the buyer could almost stay there within a few months of buying it. In fact, on a worst case scenario, the owner could even rent out a room or two so that the mortgage instalment is reduced. Assuming this bank is STILL going to be created, it must study the mistakes from the PTPTN route and ensure that it does not fail in its noble goal which is to help buyers who need a home get a home. Until today, the typical first-time
home buyer does not even know that there are SO MANY choices

and could only look at those few areas that they know. When this happens, demand is by far bigger than supply in that particular area and prices go up further. How about providing these buyers with more information instead? Actually, a lot of other solutions which does not necessarily be another huge financial burden to the nation. Happy investing yeah.

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written on 6 May 2018

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How much would a less popular area appreciate?

Have we ever wondered why some properties in certain popular areas rise in prices faster than others? Would the less popular areas even appreciate at all since they are always not the most preferred? Remember some facts. Material or even total construction costs for different areas within the same state CANNOT be so different that the prices are two times higher for the hotspot and less than half per sq ft basis for the less popular one. I know, some would now argue that land costs are increasing. Do read a little, land costs in Malaysia, versus the gross development value (GDV) is still considered very low by world standard. In other words, your property prices per sq ft differences which can be anything from 50% to over 100% is not simply due to land costs.

In brief, it really does not make sense for such a huge price difference, except for the crazy demand for one particular favourite area and too little demand for another shunned by everyone area. Recently, a friend who viewed a condo in Damansara Damai said that his agent told him that the place he was buying would increase to RM800,000 in the future. He asked me if it would happen. Actually, the question should be whether the hotspots nearby these secondary areas would rise. Once these more favourite places increases in price, the secondary areas would just track them. The secondary areas may not be the leader in these price increases BUT it will always track the more popular areas.

Another even more important observation. I told this friend that the condo he viewed would STOP increasing in price IF the prices of all the hotspots today also stops increasing in price. The probability of that happening is nearly none if we are looking at a few years ahead except if we are faced with another financial crisis. When we look back at history, this has also not happened. Even if the prices are only growing at the same rate of inflation, it is still a BIG number. I seriously do not think Damansara Damai would suddenly increase in price even if the MRT 2 includes a Damansara Damai station. However, when all the areas next to and nearby which are currently priced higher moves up, there’s no other way except up. As for that RM800,000 prediction, let’s just say it is slightly more positive than me. My personal view is slightly more conservative. Let’s just wait and see or buy and wait.

written on 4 Feb 2016

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Lesser uncertainty, better for property, definitely BUT.

Whether we work in the Klang Valley or Penang or JB or even KK. If we have some money that we would like to invest in property but there is a significant event coming up which we feel may affect our investment. Depending on the outcome or the timing, it may have some effects on our investment. Do we proceed or do we wait for the event to pass first? Well, I think I agree with what was shared by the Malaysian Institute of Estate Agents (MIEA) president Eric Lim who shared that lesser uncertainties would be better for the property market.
Full article in Edgeprop here.
 He said that the property market is expected to improve after the general elections (GE) are held. This is because, “The property market is affected by three significant factors, which are the country’s economy, employment stability and the bank’s lending. The current market is rather stable and moving at the moderate pace. And our banking sector’s NPL (non-performing loan) level is rather manageable. Affordability is the key driver of the property market.”

Then, he mentioned that another reason for the uncertainty is because people are still guessing on the general election date which must be held by August next year. (Frankly, I do not think the property market would change because of elections but as everyone would note, sentiment has great effects on the decisions. Thus, when people are not that positive, they spend less and well, the list continues. This is why even when the market is sky high, people are still buying and developers are still building… ) He shared further that many developers are now shifting into
affordable home segment

priced between RM300,000 – RM500,000.
(Frankly, based on the typical salary and the usual savings per month, I think it may be between RM300,000 – RM400,000 instead. A RM500,000 home, with a 10% downpayment and a tenure of 30 years meant that the mortgage payments per month is still RM2,227. If this is 40% of the person’s pay, then he would have to be earning close to RM6,500 per month.)

Next Eric said something which I think everyone reading this article must be savvy about. Whether the person is from the developer, whether they are a real estate agents or even buyers. He said that it was important for both real estate agents and property developers to embrace technology to reach out to younger homebuyers.
(Seriously, nowadays, are there anyone who buys things WITHOUT referring online for some additional readings, reviews or even for more information? Especially something which is a few hundred thousand ringgit or higher? Do
people still buy a newspaper, see that full page advertisement
, gets so excited over it and quickly call and book a unit? Haha. Embrace technology. Use online to help you in selling and making decisions. Yes, blogs are a great additional marketing tool as well)
All the best in your first-home and later, investment journey. General election will come and it will go. The property market and the demand and even the people will still be here. Think about it.

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written on 30 Nov 2017

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Lessons from property and inequality

Lessons from property and inequality

There are more people without a property

Many of my friends remain unconvinced that property is a necessity and prefers to spend their money in to stuffs or invests into everything they believe will be the future and skip property totally. Well, actually property is really not necessary especially if one is earning well above spending or that one is investing and earning returns which are way above the usual average. In this case, property is just taking too much time and not necessary at all. Don’t believe me? People often cite Elon Musk as someone who does not own a home. Great example…  Haha.

Anyway, here’s the reading today
‘wealth inequality in Australia and the rapid rise in house prices
‘ about Australia, a country where most of my friends’ kids are studying in a university there or may be be studying at in the very near future. Not my first preference though, I would prefer my kids to have a UK qualification instead. Just personal choice yeah and with lots of debates if someone disagrees. 😛 Here are some learnings from the article.

#1 – Australians are on average 4th richest people in the world!

#2 – Despite Covid-19 pandemic and recession in 2020, Australia’s overall household wealth has grown as much in last 3 years versus the previous 15! Reason is because of soaring cost of residential properties across the country during the 3 years’ period.

#3 – Over two-thirds (69%) of the overall increase in household wealth during the pandemic was in residential property, which rose in value by 22% through the year to December 2021—the highest annual increase in 35 years.

#4 – There are now over 130 billionaires in Australia and in 2021 their wealth grew, on average, by $395 million or 12%. It means they now hold almost as much wealth as the 2.8 million households in the lowest 30% of the population,”

#5 – Between 2003 to 2021:

home ownership among people aged 25 to 29 fell from 44% to 38% and among people aged 30–34 it fell from 57% to 50%
the proportion of median household
disposable income
 required to service a typical home mortgage rose from 27% to 41%
the proportion of median household disposable income required to pay the median rent rose from 26% to 31%.

#6 – Out of almost 50,000 rental listings surveyed by Anglicare Australia in May 2022, only seven were affordable (costing less than 30% of income)

Please do read here for the full article. A very interesting read.
‘phys.org: wealth inequality in Australia and the rapid rise in house prices
‘

Lessons from property and inequality

If we read carefully, we should be able to note that one of the reasons for this inequality is caused by property. Owning one ensures the homeowner is within 50% of everyone aged 30-34 and this meant that they would not have to look at property listings and realised that only 7 of 50,000 listings were considered affordable for many of them.

If the median household proceeds to buy a property, the typical disposable income required to service home mortgage has risen from 27% to 41%. Yea, that means every month, there is just 59% of the salary left as soon as home mortgage is paid. Any household paying 27% of their median salary is likely to enjoy a higher disposable income on everything else every month.

It’s about time and rising prices

Do not simply buy a property yeah, that’s called foolish. However to think of property as not important may be on the same track too. Renting seems cheap only because we look at it by monthly. Paying for a mortgage would have a fixed period but paying for rental? That’s forever and generations after generations. Plus the fact that all data points to the fact that inflation does happen and this will continue to push up prices of everything and that includes property prices too.

Happy learning from an advanced property market. Else, just earn way an income way above our expenses and we do not need to own any property, just like the man often cited by everyone as having no property, Elon Musk. Cheers.

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Let’s ACE our 2016, shall we?

I have been a Toastmasters for many years. Thus, I developed a style of writing which will help me in my presentations. It’s easier to remember. Well, today, I will be writing an article which will enable majority to remember the points for 2016 or even beyond. It basically sums up what we should do if we really do love our loved ones. Let me reiterate in advance, stop saying that we love our family more than money if we could not even provide the best we could for them when they are sick. We should stop hiding behind the famous saying, Health is Wealth if we actually do not have enough wealth to care for ourselves if some unforeseen circumstances happen to our health.

A – Accumulate more, whether it’s knowledge, positive assets and even like-minded friends. All these need time, effort and attention. Perhaps time to wake up earlier instead of a tiring night before which actually destroys the next day. Perhaps we should now realize, it’s a waste of time to talk about politics with like-minded individuals and join the investment-minded ones instead. For politics, the other side from our side is always wrong anyway, what’s there to discuss?

C – Control what we spend. Perhaps stop believing that Segment B Japanese sedan will make you feel so great. If you really must have that Segment B Japanese sedan, buying a 3-4 year old one would save you lots of money. If your phone works, let it keep working. That new and latest smartphone actually costs as much as your monthly installment for the next 12 months as a second-hand car! Thus, control how we spend and change what we buy; opting for a cheaper variety somehow does not kill us.

E – Ensuring both A and C above are protected. Seriously, we could have saved RM30,000 in a year but an unforeseen medical circumstances would have wiped this clean within days. If something happens to us, we need to ensure our loved ones continue to have a life to continue on. Even if we are currently protected by the company’s medical insurance, do read a bit more. There’s no such thing as work till we retire anymore. We either find a better job or the company may think of ‘cutting’ people during slow times.

There, ACE our lives for 2016 so that we can really care for all our loved ones instead of just talking rhetorics but having nothing in the bank to back it up. Do remember, our loved ones may get sick, may need vacations to relax and may need to buy new clothes during Chnese New Year. Be good to them, especially our parents who has given us everything they have. I remember my parents taking out all their fixed deposits just to pay for my tuition fees in UK Pound. It was in 1997. When I arrived in Bristol UK, the exchange rate went up to RM8 to 1 Pound at one point. Today, I must repay them no matter what and I must bring them for holidays to places they have never been, every year. They are my loved ones and it’s my responsibility to…. get the money.

written on 2 Feb2016

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Let’s aim at EPF savings of close to RM900,000 ok?

Are you working hard today? I hope the answer is a Yes. Do you think by the age of 30, you will be able to be promoted sufficiently to earn RM5,000 per month?  That’s for you to answer yeah. Today, let us take a look at what happens to someone with a RM5,000 monthly salary and his actual EPF savings when he retires at 60. The below is just EPF savings yeah. Yet to include own investments. I use age 30 because by then (assuming one starts working from 23 / 24 after his graduation), the chance of a fresh graduate to move up to become an assistant manager by age of 30 is certainly there. Yes, I have exceeded RM5,000 per month before I reached 30. I was in the sales profession… Go for it young man.

This is one reason why even working class people could become a millionaire if one does not simply spend everything one has or to accumulate high credit card debts. Remember yeah, many Malaysians do go bankrupt on a daily basis, statistically.
 Read here: 16,000 Malaysians go bankrupt every year…
Just need to keep getting that promotion (BY WORKING HARD) and continue climb the corporate ladder and one day in the very near future, the above EPF savings could just be yours. Beyond the EPF, it would have to depend on what we do to build, invest and preserve what we have.
Are we earning, saving, investing and preserving what we have?
 Happy understanding.

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Let’s all become a millionaire just by working 9-5 shall we?

What are the chances of everyone becoming a millionaire by just working 9-5 everyday for the next 30 years? In one word? Possible.  In two words? Yes, possible. Let’s not look at the T20 households in Malaysia. Let’s just look at the M40 households instead.
(click here to know what’s a T20 and M40 and also another category known as B40)
 These households earn a median income of RM6,275 per month.

How about saving just 20% of that salary and we assume we will have no further increments until we retire 30 years later? Simple calculation as follows: We round up the salary to RM6,300 per month.

RM6,300 x 22.5% = RM1,417  x 12 (months) = RM17,000 x 30 years = RM510,300 x 2 (conservative estimate for interest rate returns on savings) = RM1,020,600. We have just become a millionaire just by savings alone. By the way, this does not yet include our EPF savings which would have given us another RM1,000,000 based on 11% savings from us and 12% savings from our employer which is a total of 23% per month. See, life’s not that bad, IF we at least save enough of the sum.

I know, some will say that by the time one’s salary reaches RM6,300 the person may have already worked more than 10 years. Noted but like I say, the above calculation is also very conservative as it assumes that when your salary reaches RM6,300 it will then stop increasing… It also assumes that the returns on your investment is pretty low yeah. In fact lower than the fixed deposit rates too. So, give and take lah, don’t be too calculative.

We could also supplement our savings by spending less on food. Here’s an earlier article:
Eating cheaper is still possible, depends on us actually

Oh yeah, the above also assumes that we are someone who continue to improve, work hard and well keep climbing up the corporate career ladder.  In case you like to use EPF’s calculator to understand what would the savings be like,
please do try out their friendly calculator here.

Remember yeah, the above are all about savings alone. If we intend to do much better, then investment must come into play. Here’s an earlier article:
Are we earning, saving, investing and preserving?
  It does not even start with property investment. We must remember to protect what we have through insurance too. That’s an investment too to ensure we do not suddenly lose a lot of our money when we have to be hospitalised.

Happy working and happy understanding that it’s possible to become a millionaire or multi-millionaire (if we include EPF savings too) by working 9-5 for the next 30 years.

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Let’s buy bungalows, why not?

If money is of no concern and you want your whole family to stay under one roof, would you buy a bungalow? Do you know how much are the most expensive bungalows which are listed for sale in Malaysia today? RM10 million? RM20 million? RM30 million? Well, the answer is more. According to propertyguru.com.my, the three of the most expensive bungalows listed are as follows:

 There is one in Jalan Yap Kwan Seng at 8,000sf for just RM42,000,000 only. There are ten rooms, thus you are actually paying just RM4,200,000 per room which is too cheap. Imagine you staying inside one of the rooms. You will feel so energised. 😛

Another one is in Penang. Anson Road. This one is just RM38,000,000. There are 9 rooms, thus you are paying just RM4.22 million for one room which is very slightly more expensive than the one in Japan Yap Kwan Seng. However, this bungalow is huge. 25,000sf!  Furthermore Penang is an island which meant land is really limited.

The third highest is in Damansara Heights. This seems cheap, just RM36,000,000. However, when you look at the rooms, there are just 6 rooms. This meant each room is worth RM6,000,000 which is really highest compared to the two above. Maybe because of the word, ‘Heights’. 🙂  Total size is also smallest, at just 7,300sf.

So, if you want these three, better be fast, I am quite sure there are a lot of people who has RM50,000,000 cash and may want to grab one of these before it is sold. Alternatively, you may proceed to buy 10 units of RM1,000,000 condos. Perhaps buy the whole floor. Then, you can save the rest of the money for renovation, holidays with the whole family etc. Of course, the only different thing maybe you cannot park the cars within your compound and you would need to share all the facilities with so many other people. Okay, time for me to go to bed and start dreaming.

written on 24th dec 2013

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Let’s go Singapore soon. Not for everyone though.

Did you know that over 250,000 people travel between Singapore and Malaysia daily? Yea, that’s why we see a jam daily between us and Singapore. Did you know that there are 84 flights per day to and fro
KL – Singapore daily before the COVID-19 arrived? (read here)
Yes,  we are extremely connected and that was why before COVID-19 arrived, I think I go to Singapore once per year or more if we count business trips as well. Now, if we want to go to Singapore or vice-versa, get ready to be quarantined for 14 days yeah. This may be about to change soon.

Article in nst.com.my
   Foreign Affairs Minister Datuk Seri Hishammuddin Hussein said that Malaysia and Singapore have agreed to implement Reciprocal Green Lane (RGL) and Periodic Commuting Arrangement (PCA) travel, allowing citizens from either side of the Johor Strait to cross the border for work or official purposes, beginning Aug 10.

He said in a joint statement with his Singaporean counterpart Dr Vivian Balakrishnan, “The RGL scheme will enable cross-border travels for essential business and official purposes between both countries. Eligible travellers will have to abide by prevailing Covid-19 prevention and public health measures mutually agreed upon by both countries, including undergoing polymerase chain reaction (PCR) swab tests.” For even more details on this new travelling permission, do read the
Article in nst.com.my

This is definitely good news yeah. Now we can start to have more Singaporean visitors who will definitely spend money when they are here for good, accommodation and general expenses. Let’s ensure all the agreed SOPs are strictly adhered to. As much as I am all for the economy to continue to open, I am also wary that many countries have experienced thesecond wave of Covid-19 infections. My daughter will also be going to school beginning next month too. Stay safe everyone. Wearing a mask is NOT compulsory but let’s make it a MUST for safety of all Malaysians yeah.

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Let’s go to BED together,  Ipoh.

This is a fairly new cafe.  BED stands for Bread, Espresso and Dessert.

As usual the gold standard for any cafe is their latte. If you look at them preparing it, the baristas are serious and look professional. I hope my cup would be above average. The latte really did not disappoint me. However, somehow the coffee oomph is not good enough if I compare to Plan B or Espresso Lab. Don’t get me wrong, I just happen to have a very high expectation because I am in BED! The Hot Chocolate is quite good.

In terms of environment they have converted a shop lot into a cosy, relaxing and bright cafe. I prefer bright places to darker places. I would recommend this cafe for friends get-together. Desserts are plenty to choose from and I dare say you’ll be spoilt for choice. From the fact that I arrived in the afternoon to a full house cafe, you can rest assured that this is one cafe not to be missed if you are on cafe hunting in Ipoh.

written on 12th dec 2013.

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LHDN Tax Relief: Do not miss these out when you submit your taxes

This is about LHDN Tax Relief.

I am very sure working Malaysians have started to submit their taxes. This is the website
www.hasil.gov.my
 Hopefully all of us remember our Login ID and Password yeah. Anyway, there are a lot of relief (pelepasan) which we could claim during the submission of our taxes. It ranges from the individual to the medical expenses for parents to your lifestyle and even your education fees. Yes, studying for a higher degree is encouraged too. Image below shows all the reliefs for assessment year 2020. Happy referring!

Image Source:
https://www.facebook.com/LHDNM/photos/3466676636734593

Additional information:

The deadline for individuals to submit is 30th April 2021.

The deadline for businesses to submit is 30th June 2021.

The link for the e-Filing is here:
https://ez.hasil.gov.my/CI/
.
 Start with your IC number yeah.

Remember yeah, there are two things we may not escape from. First one is death and second one is tax. Happy filing your taxes and maybe, just maybe you have overpaid and will now get a surprise ‘bonus’ from LHDN. For the ones who underpaid, erm… look at the image above again and see if there are really items in the Relief which we could claim. Else, do something about it this year, 2021 so that in 2022 when you submit, you could claim for more Reliefs. Happy submitting.

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LHDN looking to collect higher tax amount for 2021

When the tax department (LHDN in Malaysia) says it will be able to collect higher taxes next year, it tells us two potential scenarios. One is that the tax rates may be going up. It means everyone will have to pay higher taxes. This is not such a good news. Fortunately, there has been no announcements that the personal or even business tax rates will be adjusted anytime soon effective immediately.

Second scenario is that the people earns higher income and businesses do better than the year before. This is certainly good news because it also showed that the economy is doing well and that perhaps this year is going to be better than the year before. Well, when we compare 2021 to 2020, I think 2021 is going to be a better year. We even have vaccinations for COVID-19 in progress.

Article in hmetro.com.my
  The government says that LHDN is targeting to achieve a tax collection of RM143.9 billion for year of 2021. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz shared that LHDN managed to collect a total tax of RM123.09 billion for year 2020 and this is 1.14% higher than what was targeted earlier which was RM121.7 billion. Do read the full article here:
Article in hmetro.com.my

2021 is really going to be a better year than 2020

The GDP predictions for 2021 are all positive thus far. One major reason is also because the countries have started to win the war against COVID-19. Earlier world economic growth predictions here:
Global economic growth for 2020 and 2021
. So, perhaps what LHDN is targeting for 2021 is likely to happen. Let’s not forget the fact that many of the consumption which could have happened in 2020 would now be happening in 2021 too.

Perhaps some of the travelling which did not happen in 2020 and 2021 would also happen in 2022. Let’s wish 2022 tax collection could be even higher.

My mother’s advice when I started working

I told my mother that I was paying a higher tax than the year before. My mother responded that the reason why I was paying a higher tax was because I was earning more. The question is, do I wish to earn more because only with earning more that I would be taxed more. I have since focused on earning more instead because taxes, well we could not escape from it. Just do best earn higher and then pay higher yeah.

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Lifestyle and Property Investing. How to Manage and Maximise? There’s a Bull Run too.

How times have changed.

When property developers build a property today, they have to realise that the new generation and the previous one would have a totally different lifestyle. It would have been sufficient to have a field with a few swings and a few concrete chairs within the development probably 20 years ago. If we try to do the same thing today, it will be hard to even attract those same buyers because even they would have changed. This is lifestyle.

Lifestyle is now important

This is why when we look at investments, it would also have to be infused with the lifestyle element inside. The question is always how to we manage and how do we maximise it? How do we know what are some of the important elements for a lifestyle property investment? Join me yeah. The experienced moderator,
Ms. Syilda Ismail will be asking me many questions. Click here to know her. She’s on tv shows all the time.

Potential Bull Run in the market

Even more importantly for all property investors, do not miss this upcoming event which will also be discussing about the POTENTIAL for a BULL RUN in the property market. To dissect this, we have the expertise of Mr. Faizul Ridzuan, the CEO of FAR Capital who will also be on this show. He is a famous property speaker and has a super best seller
book called “WTF 23 properties by 30.” (Do not smile… it’s a great book and I have a copy too)

Details for this Malaysian Property Outlook for 2020 and Beyond show is as below:

An event by
Malaysian Property. (click here to know them)

Register now at
https://bit.ly/MPTPropertyInvestment

Topic: Lifestyle Property Investing
Date: 1 August 2020 (Saturday)
Time: 11:00am – 11:45am (Malaysia Time)
Live-streamed: Zoom, Malaysiakini, Malaysian Property and other partners’ Facebook (including
fb.com/kopiandproperty
)

Malaysian Property is pleased to have Mitraland giving us a tour of their latest lifestyle-centric development projects in this special session.

#MalaysianPropertyOutlook
Mitraland Group
 — with
Malaysian Property
.

On the 1st August, this is the session you should not miss yeah. You will also get to see some short clips of what are the important things within a lifestyle property. Does it involve just the usual infinity swimming pool? Perhaps a smarthome which would switch on what’s needed as soon as you step into the house and say “I am home?” Actually, there’s more. See you on 1st August at 11am sharp.
Here’s that registration link again yeah. (click here)

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Lifetime savings can be gone just like that. Scams happen all the time.

Someone gave a comment that there are so many scams in Malaysia. Why the authorities cannot do something about it. Erm… the authorities are but if people continue to believe scammers easily and the scammers continue to upgrade their tricks, then cases will still continue to happen. The only question is how frequently and to what extent would the losses be. In fact, banks are also doing their very best to keep their customers informed NOT to respond to any emails or calls and if needed to end the call and to call the banks directly to reconfirm.

Please do this, okay. I have also reminded everyone I love not to simply respond to any emails / calls. I continue to do this every time I read about any latest scam cases. Below is a case which happened in our neighboring country, Singapore. The money involved is also substantial as it represented the hard earned savings of many people. Due to these now they have to start all over again.

Article in thestar.com.my
   A man and his wife saved about S$120,000 (RM372,620) in 5 years but they lost everything when scammers using a fake text message to steal the money kept in an OCBC Bank joint savings account. The couple said, “The SMS looked like it came from OCBC and entered the usual SMS chat history from OCBC used for authentic banking services. The link took me to a site that looks exactly like the OCBC login page.” He lost all the money after the scammers gained control of his whole account.

Cybersecurity expert Anthony Lim said consumers should take the following precautions when dealing with online transactions and banking details:

• Do not act in a hurry or under duress

• Do not respond to messages asking for personal credentials, passwords or PINs

• Be suspicious of messages sent via SMS or WhatsApp asking for personal details

• Never click on links in such messages

• Never download any attached file in such messages, however interesting or attractive it may be made out to be

Separately, OCBC Bank advises consumers not to access their bank accounts through SMS links. Please do read for more details of other scams too.
Article in thestar.com.my

Stay safe everyone. That hard earned money could be gone if we are not careful. It’s also possible to save the money in a few banks versus just everything into one bank. No one knows how advanced the scammers could become in the future. Perhaps some of the money could also be invested instead. Always check the details occasionally and do not think everything will just be safe where it is.

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Lifting cooling measures? Too soon: MAS

Many different parties have either voiced out or predicted that the cooling measures in Singapore would be lifted soon.
Singapore: Easing of cooling by end 2015 – DBS

 Well, this has been dampened by views from Ravi Menon, the managing director of Monetary Authority of Singapore (MAS) He said that any actions to lift the cooling measures are premature. This is because as at currently, the easing of property prices in the market has been modest.

Ravi said, “Property prices have softened somewhat, but like I said last year, in the context of the price increase that had occurred – 60 per cent over three years – the softening we have seen is really not all that much. So, it’s still premature to consider removing any of the cooling measures that are in place.” Actually, property prices in Singapore has been on a downtrend and based on the peak, it has eased 7 percent. Perhaps this is still considered too modest and MAS wanted the prices to ease further.

Just like Malaysia, the property prices began their climb in the middle of 2009, just after the recovery from the global financial crisis. Funds needed investment avenues and property became a natural choice because prices then were considered very low in comparison to the more popular property markets. In Penang, back in 2008, a 1,258 sq ft condo was still selling for below RM300,000. Yes, it was only slightly above RM200 psf. Today, the same condo is selling for around RM700,000. The price has shown no signs of weakening today.

Some other views include that of Mr Leong Wai Ho, economist at Barclays. He said that the current market cooling is still happening in an orderly manner and should be allowed to continue. Mr. Ku Swee Yong, the CEP of property firm Century 21 said that due to the still-strong Land Sale tenders and some better response in the new launches, perhaps now is not yet the best time to pull back the curbs. Singapore’s National Development Minister Khaw Boon Wan summed it up the best when he said that ‘there is still rooms for prices to moderate.’

The sign is thus very clear. The Singaporean government expects and will keep measures to ensure that prices continue to moderate, at least until a level they feel is enough before loosening the measures. We should note that a feverish level of property investment would ultimately lead to bubble. Thus, it’s prudent to remind everyone to keep a cool head; sellers to sell at more realistic prices, buyers to be able to buy something affordable and not ‘hot expectation’ while developers would have to rethink ‘affordability.’

In Malaysia, even though many said that property prices has not yet come down from previous highs but a look at today’s new launches clearly show that the property prices has eased to a more affordable level. I still remember clearly in 2012 that there were very few new condos being launched at around RM500,000. Today, this prices around RM500,000 is the norm and many of these projects include two car parks! Happy buying your first property. There is no need to rush into any decision.

written on 25 July 2015

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Erm… this limitation is NOT needed. IMHO. KL is a CITY…

On a yearly basis, I visit the pubs / bars  probably 12 times. That’s around once per month. I do not usually stay past midnight. However, if anyone were to ask me if I think the cars / pubs should just stop their operations at 1am, my answer is of course not. Are we asking them to close so that everyone can go home and sleep earlier? So that productivity increases the next day? Perhaps of a much higher urgency is to make sure the illegal ones are closed down first so that these licensed ones (they usually pay taxes too) could have more business and pays more taxes to the government. (Do remember yeah, with lesser tax, the government would have to think of ever more ways to get more tax…)

This happened a few days ago. (face palm). Kuala Lumpur City Hall (DBKL) has proposed to shorten the operation hours of entertainment centres and this proposal will be presented to the Federal Territories Ministry soon. Its mayor Datuk Nor Hisham Ahmad Dahlan said the proposal was to limit operation hours for entertainment premises within the city centre until 1am. He said, “Most of these entertainment premises that operate after hours are frequented by locals, not foreigners. Therefore only a select few entertainment outlets that are frequented by tourists would be allowed to operate until 5am.” He added, “In my opinion, even if you want to have your ‘happy hours’, be reasonable. If night clubs close earlier, people can sleep early and improve their health.”
The full article in NST here.

By the way, there are people who play video games for the whole night. They are also not sleeping early and not improving their health too. As for ‘frequented by tourist’ comment, may I understand the rationale behind this assessment? Is it because the tourists are spending their money here, so we allow them to continue their ‘happy hours?’  Plus since they are not Malaysians, we do not need them to improve their health? There are so MANY things which Kuala Lumpur could improve. From traffic jams to potholes and even toilets. Limiting the opening hours of businesses are actually not one of them. The SAME rental is paid every month, regardless of how many hours the business is open, let’s understand this fact yeah.  Happy understanding.

written on 29 Nov 2018

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