Start of
PRESS RELEASE

Experience One-Stop Property Solutions with MY U Properties Sdn Bhd!

Shah Alam, Malaysia (January 9, 2020)
 – MY U is expanding its service offerings! MY U, a successful properties sales and marketing company in Malaysia, is now unveiling its unique collaboration with Victoria Home and The Makeover Guys, providing exceptional one-stop property solutions to home owners, savvy investors and developers!

The announcement of this unique partnership marks an exciting moment for MY U, as the company shares a similar mission and vision with Victoria Home and The Makeover Guys; and at the same time three companies are distinguished in their respective fields. With the customer’s greatest concern of ‘convenience’ and ‘quality’ in mind, this collaboration is the first and one-of-a-kind in Malaysia, enabling MY U to offer expansive one-stop solutions encompassing the following:

Marketing consultancy on land acquisition
Airbnb operation and management
Feasibility studies
New product development
Marketing & sales strategy
Product sales
Defect checking during vacant possession
Strategic makeover, interior design and renovation
Long-term tenant acquisition
Long-term property management
Short-term management
Sublet management

Elvin Hoi Seng Huat, Executive Director and Founder at MY U said: “All of us at MY U are excited about having such a reputable partnership. With The Makeover Guys, a renowned interior design company in Malaysia, we’re pleased to give our customers a strategic makeover of their property through interior design and home furnishing to achieve higher returns and ease of rentability. In addition, we’re honoured to have Victoria Home, a notable Airbnb operator in the country, to accomplish the mission of ‘rental convenience’, allowing investors to rent out their properties in the shortest period of time with the highest profits.”

“This collaboration is noticeably different from any others in the market,” added Elvin. “MY U always strives for win-win situations for all stakeholders. Therefore, we’re delighted to be part of the journey that will enhance our legacy in both commercial and residential properties. We are certain that this partnership will be highly successful; and our new world-class one-stop solutions will allow everyone involved to thrive and unlock their full potential in real estate industry which is fit for the 21
st
 century and the future to come.”

About MY U

As one of the most established real estate company based in Shah Alam, MY U boasts a rich history of excellent track records dating back to 2012. MY U has led the development of the properties and real estate business, particularly in new projects, across Malaysia with its mission to provide a systematic platform for the cultivation of passionate young generations to achieve financial freedom; and to provide professional and reliable services to our customers.

With over a decade of experience and collaborations with reputable property developers under the belt, MY U’s vision is to become the leading real estate company in Asia with more than 100 reliable multi-millionaires specialists.

— end of press release —

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Online Bidding (Penang properties). Up to 35.8 percent below market value.

Online Bidding Auctions for March 2018 by MNP Auctioneers (Central) Sdn Bhd.

State: Penang (Ayer Itam, Batu Ferringhi, Paya Terubong, Gelugor, Bukit Mertajam), Kedah (Sungai Petani)

Property types: From apartments to semi-detached properties and even bungalows

Reserve price(s): Up to 35.8 percent below market value.  Please refer below for full details.

NOTE:  All these properties are owner owned units and viewing is possible so that we understand what we are really buying. Please make appointments through the below contact.

Contact: Mr. Cheston Choo (012 777 2756) for more details (Including the POS) and to register to bid and win.
This is a copy of the announcement for download.

Message from MNP Auctioneers (Central) Sdn Bhd.

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Online does not kill RENs. It is a combo yeah.

“Consumer behaviour have changed. No one walks into an estate agents office to start their search for a property anymore.” I read this interesting quote from a good friend’s instagram post. Let’s just say the quote is not entirely true because the sales process does not end with just a search for the right property. It ends when the buyer is convinced that what he is about to buy is what he really wants to buy. Many years ago, I told this story to one meeting of Real Estate Housing Developers Association (REHDA) in one state. I said, “Assuming we suddenly think about buying a property, do we drop everything we were doing and drive out or walk to the nearest convenience store to buy a newspaper to see what are the properties available?”  The answer is not really but that’s not for everyone. My parents continue to read the newspapers everyday and continue to tell me of new launches. Their peers continue to read newspapers and I am very sure many potential buyers continue to read the newspaper.

Thus, newspaper is a Lead Generator, no different from the few famous property portals. Without these mass media, it’s going to be hard to generate new leads. This is why advertisement will remain very important for a long time more to come. By the way, even Facebook marketing is just a lead generator. So, it’s partially true that people do not drop by the real estate agents office to start searching for properties BUT they will still call their trusted real estate agents / negotiators when they see any property advertisement and they will ask if it’s worth buying. This will also be true for a very long time yet. Every time I meet my friends, they will ask me this question again and again, “Ei… this property I saw the other day,worth buying ah?”

However, generating leads is just part of the whole story because potential buyers do not buy because they saw an advertisement in the mass media. Let’s be very honest. First-timer property buyer sees a RM500,000 property advertisement and they quickly run to the gallery with their cheque book? Seriously?  For these first-time property buyers, it’s much more likely for them to start reading some reviews about the property developer, about the property, about the area and even about
property investment advantages…
 And it’s far more likely for them to drop by the sales gallery to speak to the sales people, ask them lots of questions and then… visit other sales galleries nearby and speak to the sales people there before deciding many weeks later to visit the final 2-3 choices and then only decide.

This is why the PEOPLE touch will be very important. This is why some developers outsource their sales function to good Real Estate Agencies which trains their Real Estate Negotiators (RENs) well on objection handling. This is also why many developers upgrade their own sales teams in terms of property investment understanding because these first-time property buyers will have lots of doubts which has to be cleared before they buy. “I heard a bubble is coming, is it true?” “Your condo is very nice but I prefer to buy a landed.” “Your project is 45km from my office, it’s very far…” and more…

Online presence is compulsory these days. I dare not imagine any developer launching their projects without a proper website these days. Experienced property buyers will buy with less intervention from sales people but if we look at the scenario here in Malaysia, the number of new and potential property buyers are by far larger. This is why it’s very important for online media and people to work together. Online does not kill RENs yeah. It’s a great combo. Happy understanding.

written on 27 Dec 2018

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New norm is to shop online? Do I look like one?

Do look at the few images below. During this MCO, my frequency of shopping online has increased from once a week to probably once per day. Somehow, there will be something that pops into my mind and I have to quickly get it via online. Groceries?  Checked.  Fresh fish from Kuala Selangor?  Checked.  Soup ingredients from Chinese medicine shops?  Checked, yes all the way from Johor some more!  Yes, even buying a baby car seat for my brother’s new baby and having it sent to his home directly.

Need to show you how much I shop online.  GROCERIES via TESCO online.

63 items… RM290.  😛   (This is only enough for less than a week)

FRESH FISH via MyFishman. (Contacts here)

RM300 for fish, online.  Yes, it was fresh.

Ingredients for soup from traditional Chinese medicine shop?  Done. Online. Click here for that same shop.

Very good quality and price is good!

Will this be permanent?
 Now that we are very clear that I have managed to get everything shipped to me via online, could I now tell you one important thing? Would I shop like this forever?  The answer is a definite NO. My wife would still prefer to chit-chat with the aunty at the traditional medicine shop.  I would love to just stroll along the supermarket aisle slowly and keep adding to my trolley and my kids runnings along and annoying me occasionally. Haha. I would definitely still be driving to Kuala Selangor on a monthly basis not just to buy the fresh fish but also to eat the freshly cooked seafood dishes too.

Would I shop online more often after the MCO?  Well, if compared to before MCO, yes, I would shop online even more. In fact now that I discovered so many new things I could buy online, of course I would buy them if I am just too busy for example.

ADAPTING is the key.
 As for all these shops, what do you think has happened?  Yes, they have adapted.  Whether it’s that little traditional Chinese medicine shop in Johor who has now realised they could even sell to someone like me in Selangor or that fishermen in Kuala Selangor who now realised that if people could not go to them, they could still sell and deliver and this will mean even more people have access to their fish!   MCO has not killed any business who could quickly adapt and well thriving from now on. What about you?  What have you done to adapt and thrive right after the MCO is over? Even with normalisation slowly happening? Happy adapting and thriving.

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Ignorance or still true? Well, you decide.

In an announcement to the world or rather Malaysia, two of Malaysia’s major newspaper publishers said that they are now joining hands to offer the best value ePaper in Malaysia. Inside the article, they mentioned the importance of online because nowadays everything is online. Well, here we have two of the major dailies in Malaysia stating this very real fact and if they had ignored it, soon it would be at their peril. Yet, until today, there are developers who are adamant that ONLINE media does not work. How ironic. Actually, are they arrogant? Nope, not at all. They are just ignorant. In fact one major sentence used is always, “Once construction starts, the buyers would come”.

A few of them even believed that a few days’  worth of advertisements in newspapers should do the trick, like how they always do long time ago. Well, allow me to point out that even though every year the newspapers continue to claim that they readership is increasing, the truth is, their circulation is decreasing. Their readership numbers include all their online readers too. Okay, perhaps advertisement in newspaper is really the best. They should know better since they are the developer and I am just a blogger? Haha.

As a world trend, smartphone ownership is something which is increasing day after day. News travel faster than any traditional media. In fact thats why there are NO traditional media which does NOT have online presence. In fact many are continuously revamping their online sites to ensure they meet the needs of the readers. You can view a coloured advertisement on newspaper but you can view the actual 360 degree view of the property even before you step into the actual showhouse. Tell me honestly, would you like to go to 10 different showrooms and found just 2 that you like or you prefer to browse all ten, then decide to go into two and really be able to make a real decision?

Do leaflets work? Yes, I think they do. If your intention is just two rows of houses, at an attractive location and affordable price, I think leaflets should do the trick easily. In fact better than online. Do buntings work? Sure, but they cost a bomb and you continuously expose to just the same group of people passing through the same roads everyday. What if that was not the right road to put up the buntings? Do electronic billboards work? For properties, the answer is a firm NO. There are way too much information the reader has to read and mind you, he is DRIVING! Oh yeah, the best argument. Only the young browse online. The target market who are the older generation reads newspapers. Haha. Please read through the demographics report of population in Malaysia, the ownership of smartphone and the broadband penetration VERSUS the circulation of newspaper before you claim this again. Fortunately, I am only talking about minority of developers because majority has already started their online presence. I wish every developer, whatever their marketing strategy may be, all the best. Happy marketing.

written on 19 Mar 2015

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Online Property Site and Online Buyer’s Club?

I saw something very interesting today in PLTM’s facebook postings. Iproperty has a new programme called Iproperty Buyers Club. How does it work? According to the website, the reason why they are starting this is because they want to give the best to their customers. They have the network to do so and that they are talking to developers to give exclusive discounts to Iproperty Buyers Club members. Sign up is FREE. I have no idea how it works, do Iproperty arrange for bulk discounts or individual discounts? Personally, I do not like this type of ‘exclusive discounts’. Quoting their own words, ‘special discounts to select few’? A developer should just sell at their own pre-determined price and not special price to certain groups. Why should there exist so many different pricing levels? If this is the case, which group should get the best or the lowest or the most awesome deal offered?

Here’s the screen shot of their page. They have also listed a few developer partners. I am not sure how people would react to this. Perhaps many would love this kind of arrangements where you sign up and you get exclusive deals. I am not sure but I have just signed up to see what offers would they be offering. Thus far, no special offers though they have asked me to fill up a form. Will decide later if I should fill up the form.

Dear readers, what are your thoughts about this type of arrangement? Should an online property media turn themselves into a property buyers’ club? If yes, would this also start happening for other major sites like propertyguru, propwall, starproperty? A very interesting thing. Actually with their current visitor numbers, even if 1% of these numbers sign up as their buyers’ club members, and only 10% of these 1% of the people buy one property each, I think we are talking about buying the whole block of a condo from a small developer. Would this type of buyers club spell the end of the current smaller investor clubs in the market? We shall revisit this again in 3 months time. Let’s see what happens then.

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Online shopping to kill malls? Not during my generation, for sure.

There has been many examples of how online sales are growing while the retail sales, especially those of the malls are slowing. Another article has appeared to provide the same school of thought, that malls would be ‘murdered’ by online sales.
‘Will Amazon kill Singapore malls?’
 The article quoted one mall called John Little in Singapore which has shut its door after a 174-year run. (I have casually strolled through this mall once many years ago. It does not look impressive to me then) The article also mentioned that the lease for many bigger malls are on a downtrend too. Towards the end of the article, it shared that one part of Funan mall which used to specialise in selling of electronics may find it tough when it reopens in 2019 because by then, no one goes to a store to buy a computer or a phone. Not all are bad news, the article said that as of now, nothing much has changed and even Capitaland Mall Trust was still giving a 5.5 percent annual dividend which continues to be very healthy versus the fixed deposit rate.

As soon as we google for more information, there are even more of such gloomy predictions, the typical mall as we know would soon be history. Not too long ago, some ‘smart’ writer in a publication in Malaysia said the same thing, that online will kill malls.
Malls, household debts and bankruptcy?
 There are also articles like this for the U.S.
Dying shopping malls are wrecking havoc in suburban America.
Before we are sucked into everything gloomy, this is what they intend to do with some dying malls.
Build more residential units from them!
 By the way, mall CEOs are not taking the ‘mall is dying’ lying down. This is what they say,
“The Whole ‘Malls Are Dying’ Thing Is Getting Old, Say Mall CEOs.”
 Some of their strategies include reducing the clothing section as well as adding grocery stores and even doctors!  (I think it makes sense. Malls should be a place where I could do everything that I wanted to do, including seeing a doctor and buying some groceries after that. Unless we can now use google to become our doctor, I think clinics in malls are a good strategy)

Personally, I love to visit malls and I just bought something online yesterday and today. I still need malls for my kids to run around, to have a cozy place for a birthday dinner, to have a place to have a cup of coffee with good friends and even just to touch all the things that I would like to buy before I buy them. My wife and I would never substitute malls with online purchases. By the way, ALIBABA is buying its own PHYSICAL MALL. Here’s that piece of news.
Alibaba building malls for retailers.
To them, it’s simple. Customer experience comes first and a physical mall can help. Oh yeah, they already have a working mall called Home Times too. It is the best of both worlds by the way. Here’s that article:
Alibaba integrating e-Commerce with brick and mortar shopping.
Malls are definitely nowhere near extinction. However, I think the models would continue towards an integration of e-Commerce and convenience and customer service all into one. Yes, I will be visiting malls frequently for the next 20 years.

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written on 25 Oct 2017

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Online shopping will NOT kill malls. Better malls will kill uncompetitive malls.

I disagree that more malls meant all malls will suffer. Sorry yeah, demand and supply does not work fairly. 10 malls and 10 million visitors meant every mall will get 1 million visitors on average. 20 malls does not mean all the malls will now get 500,000 visitors. In fact, the better malls will slowly kill the uncompetitive ones. This is the actual scenario and we should stop getting carried away by looking at just the number of malls and then conclude the whole retail scene to be negative.

The stock market may have 100 stocks and 1 million transactions and it does not mean every stock will get the same number of transactions. In fact even when it reaches 200 stocks or 300 stocks for example, some of the unattractive counters would soon be forgotten, that’s all. The existing darlings or even the new darlings may now occupy most attention and gets the most number of transactions.

I could go on about car models, about property market but I hope we understand the same idea now.  Let’s focus on the notion of online shopping killing malls.  I am an ardent
Shopee fan
. I receive deliveries EVERY WEEK.  So, if we have statistics on frequent online shoppers, I am very sure I am categorised as one. The amount is getting bigger too because now it seems that there are so many things to buy online.

Now about malls. I still go to malls EVERY WEEK. MY wife who is a home minister goes to the malls a few times every week. She prefers to do her grocery shopping in a comfortable environment plus it’s way easier to find parking versus circling around some popular neighbourhoods when she wants to visit the wet market for example. So, if my family is considered an average Malaysian household, the position of both the online platforms and the malls are safe.

Let’s look at some numbers from
an article in themalaysianreserve.com

“National Property Information Centre’s third-quarter of 2019 (3Q19) figures showed there were 1,035 shopping complexes in the country, offering 16.42 million sq m of retail space or the size of 63,300 tennis courts. It is expected that 39 more shopping complexes will come on board with total retail space of 1.52 million sq m and another 27 shopping complexes with 1.03 million sq m are being planned.”

Sunway Malls and Theme Parks CEO HC Chan said the outlook for shopping malls this year will remain challenging, but certain ‘resilient’ segments of retail will continue to thrive. He said, “The food and beverage segment is going to continue its steady 30% growth in some malls. Another trend that we are seeing is the rise of co-working hubs in shopping malls, experiential spaces and themed playgrounds.”

In its recent report, Retail Group Malaysia (RGM) has cut its annual retail sales growth forecast for 2019 from 4.4% to 3.7%. Please do refer to read the full
Article themalaysianreserve.com

We need to stop looking at just the huge number and then think everything is going to be negative. It’s way better to start breaking down the malls into the performing ones and the non-performing ones and then track the number of visitors to these performing ones every year. When we do this, then of course it can be clearer that online shopping is killing malls? By the way, I think everyone knows that online shopping is super huge in China. They have deliveries as fast as within a few hours. When you visit their cities in the near future, feel free to drop by their popular malls too and then decide if online which is fluorishing in China is indeed killing its malls. Happy understanding and shopping.

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ONLY BUY after property bubble burst

I have a friend who earns very high salary. In fact amongst all my friends, I think he is ranked second highest. He knows that I love properties and he told me confidently that he is now keeping his money in FD so that when the bubble bursts, he will enter the market and buy. I said, great, so at what price would you enter? He paused and said ‘when market is low enough’. I asked, when he said low, does he mean 10% down? 20% down? 50% down? He said, ‘of course as low as possible lar’.

I really hope when the bubble bursts this friend would really cancel his FD and enter the market because buying during crisis meant that your profit would be very high once the market recovers. From history, we have learnt that in terms of properties, except if the property is in the middle of the desert, most of the time, it will continue to go up again even if slowly. However, he has yet to make a decision as to when he would really enter the market. He is not even a member of PLTM (Property Talk & Lifestyle Malaysia). I feel any investor should be a member of PLTM. Get to know, before you actually buy.

This friend of mine is already very rich and in fact will probably be very rich even if he does not enter the property market. The only thing I would like to reiterate is this, he could have been much richer if he has property investment. The expectations must also be set right, just like if you enter the share market, never say I want to buy when it’s low. You must specify and adhere to what you term as low. If you intend to sell when you have profit, you must also adhere and have an actual target of what’s the price to sell. You cannot say, I will sell when the price is up to my expectations. Perhaps I may be wrong but I think in any investment that we do, we must go in with both our eyes open and our brain ready with some risk calculations / acceptance.

written on 17th dec 2013.

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Only RM12,627 per sq ft, expected to finish within one day

Looking at the price, looking at the currency, looking at my pocket and counting all my money, I concluded decisively that I am way too far from being able to afford such a property today or even tomorrow. Yet, I am ok. At least I know of one friend who has bought a unit in the Phase 1. As they say, it is important who you know and fortunately this person knows me too. I am just happy for my friend. I am happy because a Malaysian developer managed to get such a premium in a faraway land and who would have guessed that the bidder and builder is a Malaysian company at the very beginning?

Sorry, forgotten to mention.This is the Malaysian-owned Battersea Power Station redevelopment project. It is situated in the Nine Elms area of London. A few years ago, a friend asked me if she should buy into a huge new development in Jelutong; The Light by IJM. I said, if the development is a huge one and the developer is a reputable one and they are launching just the Phase 1, you should take up one unit. She said, ‘but reclaimed land, some say not stable and some say the reclamation was done too fast!’ In the end, she did not buy. two years ago, she said she regretted not buying a unit. This strategy has a flaw. if the development runs into a period of financial crisis like what happened in the US, you are not safe. However, if everything goes well, do expect a huge return by the day the last phase of the whole development is launched.

Coming back to Battersea Phase 2, it is expected to be fully sold within one day. Yes, ONE DAY. Possible? of course its possible, for any serious and wealthy property buyers, who has never heard of a city called London? For those who have heard of this, how many have heard of Battersea? Judging by how first phase went, 50% to Londoners and remaining to Malaysians, Singaporeans and Hong Kongers, I think Phase 2 may well be more Londoners. This is because the price is really high for Malaysians or Singaporeans even if property prices in Singapore is high. It is also because the Londoners would now feel more confident with this ‘unheard’ of Malaysian developer. I wrote about this before.
‘Why locals typically buy last’

Okay, enough of calculation. One day in the future, perhaps I can take a selfie in front of the Battersea development and post in my FB saying, ‘Been here’. other than that I would love to drop by the largest fresh produce market in the country which is nearby. New Covent Garden Market.

written on 24 April 2014

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Only RM20 per year for parcel tax for the M40 household strata property owners. WOW.

What is parcel tax? This is effective from 1st January 2020 onwards. This is considered a new name for quit rents for strata buildings. Of course, change of just the name is not all that changed yeah. Federal Territories Minister Khalid Abdul Samad says that parcel tax will be more transparent and allows owners to pay directly to the Federal Territories Land and Mines Office instead of paying to the management committees (MC).
(I think what he meant is that owners will now know immediately if they have paid or not because they will get the receipts directly versus waiting for it if they were to go through the MCs)

Article in nst.com.my here.
 This is a good news for the B40 households who owns a strata property here in Kuala Lumpur REGARDLESS of size. The homes are those from the low-cost housing schemes and the People’s Housing Programme. They will now only need to pay a yearly flat rate of RM15 for leasehold property or RM20 if they have a freehold property. One major reason to switch is also because there are just too many ‘unpaid’ quite rents.

Khalid explains, “Based on current records at the Federal Territories Land and Mines Office, about 446 strata development schemes out of 3,214 (or almost 15 per cent) in Kuala Lumpur have quit rent arrears. Implementation of the parcel rent system is seen as a correctional mechanism and to rationalise taxation mechanism to a more systematic, transparent and fair strata development.”

He also explained that the calculation formula under the parcel rent system was based on the total area of the parcel, including the owned accessory parcel, parcel utilisation category for residential, business or industry, and whether it was leasehold or freehold.

As for the M40 households, he said,  “Based on record, there are more than 70 per cent of affordable-type apartments with 1,030 per sq ft or 96 per sq metre, and the owners are mostly the M40 group. Therefore, the parcel rent rate for such strata development has been drafted to allow the implementation of parcel rent for a minimum rate of RM20 a year for leasehold title and RM25 for freehold title holders can be enjoyed by the M40 group of the strata residential owners.”  Please refer to the article
Article in nst.com.my here.

By the way, I always believe the fewer middlemen, the better it is for transparency and efficiency. I will always remember how passport applications could be way faster if we pay EXTRA. This is a thing of the past. Today, it’s ready within an hour and the only payment is for the passport itself without any ‘extra’ payments to some middlemen with connections for example.

Now, for that next phase? Making sure the strata owners actually PAY. There are no improvements if there are no enforcements. Earlier article about it here:
You pay, else we will seize your land and your home
 We always talk about how some countries are better etc, I think IF the people refuses to pay on time and we do nothing about it, stop talking about all these potential improvements. There are certainly countries where the people will just pay without any need for coercion. One day, all Malaysians will be like that. Till then, strict enforcement will be necessary. Happy paying for that parcel tax yeah.

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Only smaller units can be affordable

In a news article about Penang property market in The Malay Mail, Penang Real Estate and Housing Developers Association (REHDA) chairman Datuk Jerry Chan said that Penang’s house prices are certainly not going to come down. This is because of high costs which the developers would have to bear. These high development costs would have to be passed to the buyers and this is why prices would move up. Thus, the only way out is to build smaller units and this would enable the houses to be more affordable. He said that the developers have to pay lots of contributions today and due to this the next generation would have to suffer.

He also wished for an easier conditions for first-time home buyers to buy. This is to ensure they can afford to own a home. Current loan schemes made it tough for first-time buyers to get their loans. Datuk Jerry repeated something which many developers have been saying, that the first-time home buyers should be given higher rates. He also asked the government to reduce charges imposed on foreigners buying Penang properties. This will ensure more investments flow into Penang. This new money is definitely good for the economy.

This is what is happening currently in Penang property market. Read here:
Residential Property Market in Penang 2015
 In fact according to many agent friends in Penang, the total market is negative and it’s going to be tougher to sell homes. Thus, pricing may be the only element which would attract buyers. In terms of prices per sq ft, actually, the choices within the island is also getting lesser these days. Some of the usual hotspots are already priced so high that I always wonder who are these buyers anyway. We are talking about RM1,200 per sq ft or higher, something which baffles me. Perhaps there are really that many rich people or high salaried people in Penang.

In the near term however, I think it’s better to buy bigger units from the secondary market instead of smaller units at similar price levels. This is unless there are already no more such choices. If what Datuk Jerry is saying will be happening, it meant that smaller units would be the flavour of the future and that the bigger units would be the sought after ones in future. Oh yeah, in terms of net migration, it is not showing an uptrend. Read here:
Penang: Fertility rate of just 1.5 and 1,300 net migration
 Are there still shortages? I think the demand is there but the sentiment and pricing holds the key. Happy buying a Penang property.

written on 5th Nov 2015

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Sunway Property’s Onsen Suites achieved take-up rate of 90 percent

PRESS RELEASE 4 JUNE 2021: SUNWAY PROPERTY’S ONSEN SUITES 90% SOLD

Sunway City Ipoh, June 4
 ~ Sunway Onsen Suites development by Master Community Developer, Sunway Property has achieved a take-up rate of 90% for its first tower comprising 252 units serviced suites. The well-conceptualized development is Asia’s first serviced suites that integrate natural hot springs within the development.

Strategically situated within the multiple award-winning township of Sunway City Ipoh, Tambun, Sunway Onsen Suites is set against a scenic green backdrop with the entire development comprising four tower blocks in total with more than RM500 million in gross development value (GDV).

The development’s serviced suites come in four variations with studio, two-bedroom and three-bedroom versions ranging from 592 sq ft to 1,184 sq ft as well as six units of luxurious Onsen Villas starting at 2,712 sq ft.

It’s unique “onsen” or natural hot springs pool feature is nestled within a splendid courtyard at the podium level. The same level is also equipped with a multitude of facilities which includes an infinity swimming pool, multipurpose hall, gymnasium, sauna rooms and a garden for the residents’ wellbeing.

Sunway City Ipoh Executive Director Wong Wan Wooi said, “We attribute the success of Sunway Onsen Suites to its unique feature proposition, green surroundings, and its strategic location within the multitude of amenities in Sunway City Ipoh which provides convenience to residents. Our investors are attracted to the rental yield and potential capital appreciation that is inherent in a unique resort-like development within Ipoh which is garnering rising international acclaim both as a tourism township as well as a retirement destination.”

The development is located within an integrated sustainable development in Sunway City Ipoh with RM2 billion in gross development value spanning 31 acres that will include upcoming developments such as Sunway Medical Centre, assisted living development with hot springs facilities, the proposed Lost World mall and an education component in addition to Sunway City Ipoh’s existing residential, Lost World of Tambun, Lost World Hotel, The Banjaran Hotsprings and Sunway College Ipoh developments. Modelled after the successful township of Sunway City in Kuala Lumpur, Sunway Onsen Suites is part of Sunway Property’s future investment plan which is estimated at another RM4 billion in Perak in the next 15-20 years.

Sunway City Ipoh has won five FIABCI awards, namely two FIABCI Prix d’Excellence (International) awards clinched by Banjaran Hotsprings and Lost World of Tambun in 2012 and 2015 respectively, and another three FIABCI Malaysia Property Awards, which included the honour of Best Master Plan township in 2010.

Sunway Onsen Suites bagged the Best Holiday Home and the Northern Star awards during the recent StarProperty Awards 2020 which aptly translate its resort-like concept as an ideal vacation home. Sunway Onsen Suites was also r awarded Best Showhouse Design at the Designer of the Year 2020 award. The showhouse will be re-opened for public visitations once the MCO is lifted with viewing by appointments only.

For more information on Sunway Onsen Suites or to view the development virtually, visit
www.sunwayproperty.com

— end of press release —

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OPEC vs US oil producers. Who’s going under first?

The oil price has been on a downtrend and it is still on a downtrend this far. The largest producers are all grouped under the Organisation of the Oil Exporting Countries (OPEC). Thus, this group is quite powerful when it comes to dictating oil prices. For example, when the demand goes up or when there’s a war in some countries in the Middle East or even just because of speculation, the OPEC can decide to vary their production thus impacting the market and balancing the prices. While its not as straight forward all the time but when oil prices are really swinging crazily, OPEC can be a stabiliser. Recently, oil prices has been going down and it has gone down so much that it is bordering on the cost of producing the oil! Yes, the cost of oil production for some American oil producers are estimated at US$80 per barrel.

The usual cost of production is just US$30 per barrel for the Middle Eastern exporters including Saudi Arabia, Iran and Iraq. The reason is because the oil drilling in US is much more complex versus the usual pumping from conventional reserves of the Middle Eastern exporters. The current oil price? Well, it’s already at US$72.58 per barrel. In other words, if we consider that the orders for oil was 6 months in advance, it meant that the producers with a higher cost than the selling price would have to stop producing soon or lose money every time they produce and sell. Stopping totally may not be possible as fixed costs are still there. Thus, it is going to be a fine balance of survival vs bust.

What happens when many of these producers in America starts shutting down? Well, the news of supply shrinking will likely help to bolster oil price for a while. However, if we look at the demand, it is not likely to exceed the supply for many years to come. Unless of course, the supply is cut temporarily due to unforeseen circumstances. Many years ago, as soon as there are news of impending war in the Middle East, oil prices starts to rise. Today, it is still extremely unstable in Iraq with the IS but oil prices continue its downtrend. Perhaps the world has begun to understand that oil prices did not rise because of just the demand and supply but some speculators are playing their usual game of pushing it up and down to earn their profits. Let’s hope this trend may persist for a few more years. Most of the oil producers are not losing money anyway, just lower profits, that’s all. Happy driving and consuming more petrol.

written on 30 Nov 2014

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Opening in time for Christmas – Sunway Velocity Mall.

My personal belief for malls in the Klang Valley is this. The more the merrier because the good ones will prosper and the not so good ones would have to
buck up or fade away
. Just look at that few popular ones and we would understand that newer but less impressive malls will not be able to attract enough visitors to last longer. Another one is opening just in time for Christmas. Sunway Velocity Mall. The developer is an experienced one even if it will be facing huge competition too. Well, read on and drop brand perhaps win a vacation!

— Press Release —

KUALA LUMPUR, 5 December:
 Sunway Velocity Mall (SVM) is inviting consumers to celebrate its much-anticipated soft opening and festive campaigns beginning at 10am this December 8, 2016. The new retail and lifestyle hub is poised to transform KL South and mark the location’s identity as the new top destination for shopping, entertainment and social interactions for the 1.72 million residents of Cheras and Ampang.

Open daily from 10am to 10pm, Sunway Velocity Mall embodies its tagline of “Elevate Every Moment” and sets a new benchmark that redefines customer service and experiences for shopping, entertainment and gastronomy.  The seven level mall, with 1 milion sqft of retail space, will also house big retail names including the first AEON MaxValu Prime in the country and the third after Japan and Hong Kong. The other two main anchors are Parkson and TGV Cinemas. TGV Cinemas at Sunway Velocity Mall will house the biggest IMAX screen in Malaysia, providing the world’s most immersive experience to moviegoers in Kuala Lumpur.

There are also other key tenants to satisfy even the most demanding shopper including Uniqlo, Harvey Norman, Padini Concept Store, Popular Bookstore, Home’s Harmony, Toys ‘R’ Us, JD Sports and CHi-X Fitness.

With its impressive neo-futuristic façade, especially its unmissable feature the ‘KL Orb’, Instagrammers are encouraged to snap wefies and selfies along this ideal backdrop. More so in the evenings, when the colourful LED lights shine and create a space-like, sci-fi environment.

Shopping will also never be the same thanks to its perfectly designed layout that allows shoppers to move through four different precincts, Vanity Hall, Marketplace, Food Street Food and Commune @ The Balcony.

Coinciding with the soft opening of Sunway Velocity Mall, its Main Atrium will be transformed into an urban Christmas Wonderland for the young and young-at-heart. Enter Sunway Velocity Mall’s exciting world of Santa’s City where the main centerpiece, a 30ft tall Christmas tree, will be surrounded by oversized presents and decorated with ornaments that will enchant the crowd. Another treat to get shoppers in the festive mood will be carollers who will be singing contemporary and beloved Christmas songs. Take a moment to pose and snap a picture with everyone’s favourite Christmas character, Santa; and if you are lucky, he might have a surprise gift for you!

For kids, Sunway Velocity Mall will also run special Christmas workshops that should not be missed. Happening every weekend and over the Christmas holidays, there will be two different sessions a day so your children will definitely be entertained, learn and socialize. The best part is that they can take part in every single workshop for free.

Embodying the spirit of giving during Christmas, about 30 children from Yayasan Sunbeams Home Ampang will also be present to enjoy the exciting festive atmosphere. The management and tenants of Sunway Velocity Mall have also come together to present the home and the kids with a big surprise gift at the event as well.

Besides the jaw-dropping Christmas atmosphere, Sunway Velocity will also be formally introducing its V Campaigns that is themed along the lines of the ‘V’ concept. Among the initiatives under this concept will be the “V Travel Facebook Contest” – a fully paid vacation for two to Victoria, Australia sponsored by Sunway Travel and Visit Melbourne. This is the first destination (out of four) in the V Vacation series, which will be conducted throughout 2017. The winner for the first ‘V Travel Facebook Contest’ will also be announced at the soft opening.

Sunway Velocity Mall will also be running its Spend & Win Campaign, which will be held through Christmas and Chinese New Year from December 8, 2016 to February 12, 2017. Shoppers stand to win jaw-dropping prizes with a Volvo V40 as the grand prize, a fully paid trip for two to Korea by Always 21, Gintell De’Wise Butterfly Care massage chair, a Celistar Diamond Ring by SK Jewellery, a HERO bed frame & Nature’s Finest Himalaya mattress from Harvey Norman, and other amazing rewards.

As Sunway Velocity Mall will be welcoming shoppers on December 8, the mall has also decided to celebrate the date with an exciting opening campaign called the “Everything 8 for 8 Days” promotion where too-good-to-be-true deals are set at astonishing prices of RM0.80, RM 8, RM 80 and more. Campaign runs from opening till December 15, 2016.

Sunway Velocity Mall in March 2017 is expected to introduce ‘VeloKiddie’, a kids’ club that promises fun adventures and learning activities under the guidance of its friendly VeloTroopers. Members will be entitled to exclusive deals and rewards offered by countless shops within the mall so shoppers should register now to receive a special welcome gift.

For more details of the offers and contests, log on to
https://www.sunwayvelocitymall.com

— End of Press Release —

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Operating since 2014 and duping hundreds of ‘investors’

18 percent returns per yearly. Sounds too good to be true? Actually, based on the current interest rates even for Malaysia, 18 percent per annum is still considered extremely high. If I am the owner of any banks here in Malaysia and such an investment is true, I would just invest all the savings from the people into the scheme and then pay 4.5 percent to all those who are putting their money into fixed deposits with my bank. Even at 4.5 percent per annum, I think I would get all the businesses from the savers. This is because all the rest of the banks are providing rates which are nowhere near me. Take a look at what ringgitplus.com is showing for some of the banks here in Malaysia. This is assuming we actually have RM100,000 to be put into the account for 12 months. Well, the 18 percent was really a carrot offered to ‘investors’ both Malaysia and Singapore. Do read
The full article in asiaone.com here.

The article shared that one property company is being investigated by the Singapore police. The company, Macro Realty Developments Pte Ltd was based in Singapore and offered investments to fund property developments in Pilbara, Western Australia. Investors were promised returns as high as 18 per cent yearly. It quoted promotional materials all the way from 2014 which told investors that it had other sources of revenue when it did not and that guarantors owned land assets when they did not. According to an ABC report, the company is controlled by Australian Veronica Macpherson and received over A$110 million (S$119 million). There were a total of 651 investors from Malaysia, 981 from Singapore, 31 from Australia, 58 from the United Kingdom and 17 from continental Europe. According to KPMG liquidator Hayden White, the scheme collapsed last year and the creditors are owned more A$200 million. (RM681 million)
Full article in asiaone.com here.

If I am a Singaporean or even a PR, the savings rate in the banks based in Singapore are currently lower than 1 percent.
Here’s link to moneysmart.sg
 to understand more. In other words, assuming the investors were promised 18 percent returns, this would be CRAZILY high. Seriously, if Singaporean based banks could only offer such rates, would it not be foolish to expect some company which is able to give such a high return? Well, what’s the interest rate like in Australia? Here’s a link to Australia’s savings rate in
info choice.com.au.
 I think 3 percent is considered good. In other words, if I am an Australian and there’s a 18 percent return being promised, there’s no way that Australians themselves would have taken up every investment unit on offer. There’s just no opportunity at all for Singaporeans or even Malaysian investors. Well, perhaps I am just a poor Malaysian who is used to working hard, savings money slowly and invest with a very long term mindset. Perhaps that’s why I was not cheated, yet.
Just perform at your work, it helps.

written on 24 July 2017

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Opportunities in property investment does not ONLY come during a crisis.

Too many friends kept saying they will buy a property during a financial crisis. They were waiting for opportunities in property investment. Sorry my friends, when the crisis comes, most of us (me included and not just you) may NOT be courageous enough to do so. Jumping in when everyone is jumping out? I better just stay put and hold and wait till the bad time passes.

We would not dare to buy during a crisis if everyone around us are afraid, bad news everyday about companies collapsing and banks showing ever higher non-performing loans and thus will be even more stringent with lending approvals. Plus the fact that the property we want to buy may drop in price further AFTER we have signed the Sale and Purchase Agreement!

This is why we need to step back and realise that while crisis brings about the best opportunity to buy low and sell high later on, it may be best to identify opportunities by knowing what’s really happening. Here are 4 things we could do before the crisis and occasionally if we found something, we could proceed instead of waiting until the next crisis comes.

#1 – Do you already know what do you want to buy?
 Is the focus on undervalued property? If yes, how big is the discount that you would consider a must-buy? Is the focus on home upgrade? If yes, have we identified if we like a bigger home further away or can accept a more luxurious home but smaller in size? If it’s for rental, are we looking to rent out fully furnished, empty or even attractively  renovated? It could even be sub-let or short stay as well.

Have we identified the targeted tenant market? Students? Private universities? Working professionals? Actually these are just a very small part of all the questions we would need to ask ourselves. If we have not even decided on what we want to focus and what to buy, then stop saying that we are waiting for the best time to buy. Nothing will happen even during a crisis.

#2 – Do you already have the funds ready?

By the way, this is number 2 and not number 1 in the list because what you want to buy should determine how much funds you should prepare. This fund also does not necessary just be inside the savings account for it to be liquid. It could be in the Fixed Deposit for a 1-month or 3-month term. This should give enough flexibility should you need the fund for a purchase.

While leaving this in dividend stocks may also be an option but remember, when the financial crisis strikes, the company stock you bought may also drop in price too. So, that’s a risk as well where you suddenly realize you do not have enough funds to continue with the property purchase. Do not let it be a case of so near yet so far yeah.

#3 – Do you know where to keep track of all the listings?
No point in knowing what we want to buy and having the funds to do so if we did not know when the opportunity knocks. Keeping track can be via property listing sites such as
iproperty.com.my
 or
propertyguru.com.my
 or
mudah.my
 it could also be your good and friendly neighbourhood real estate negotiator who will continue to update you about potential opportunities. It could also be through auction listing sites too. Just google ‘auction listings Malaysia’ for many different sites to keep track of what’s available.

If we have these three steps in place, then truth is, we could buy as soon as we found a good opportunity and it does not necessarily during a financial crisis.

I share with you this story which happened just a few years back. I was driving a close friend out for lunch one day. Suddenly she said that she found a particular property listing which has just been posted 10 minutes ago! The price was unbelievable. It was 15-20% below the typical market price. She called immediately, made an appointment to view the unit in the evening and at night, she told me that she had paid the earnest deposit!

By the way, the property price was so low that when the calculation of property stamp duty was done, the price which was used to calculate the property stamp duty was higher than the price she bought! Now, do we understand why it is so important to be prepared? She certainly did not buy that property during a crisis. Happy waiting.

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Another OPR cut in March 2021? Really?

There’s a prediction that there would be another OPR cut in March 2021.

OPR stands for Overnight Policy Rate. Briefly, this is the interest rate. The lower it goes, the more sleepless nights which those with huge amounts in Fixed Deposits would be having. However, the lower it goes, the happier would be those with loans with the banks because the repayments would be adjusted accordingly too. If you like to understand more about these reductions,
 read earlier article here.

Well, it’s certainly not an easy decision. This OPR is part of monetary policy which our Bank Nagara Malaysia (BNM) would decide in order to either be more accommodative to facilitate GDP growth or perhaps start some cooling measures if they feel the market is no longer near the fundamental.
One country may be starting cooling measures soon for its property market because of some reasons. Read here.
Who forecasted and why was it forecasted?

Photo by Gabby K on
Pexels.com

Article in nst.com.my
.
  HSBC Global Research Asean chief economist Joseph Incalcaterra said that Bank Negara Malaysia is expected to announce a 25 basis points cut to the Overnight Policy Rate (OPR). This will be taking the OPR to 1.50 per cent in the next Monetary Policy Committee Meeting on Match 4. He said that the may continue to reallocate expenditure towards short-term measures, but a large package of fresh spending is unlikely.

He shared that more assistance will be needed in the short term to offset the impact of the latest lockdown and this suggests the burden will fall on monetary policy. He said in a note, “We have continued to stress that Bank Negara has substantial policy space that should be used to confront clear hit to economic activity and fresh disinflationary pressures.” Do read his comments in full here:
Article in nst.com.my

Personally, from my observations on the ground as well as the fact that
COVID-19 total is actually on a downtrend (read here)
 around the world plus vaccinations are now starting in many countries if not most countries within these few months, I do think BNM will continue to monitor and thus adopt a wait-and-see first prior to any further adjustments. If the cut is not needed and they hold back, then they have more to play with should a cut is needed.

If it (BNM) cuts too soon and there little effects from the cut, then when it’s needed, they will have fewer options to play with. By the way, I am NOT from the bank, NOT from the developer, NOT from the real estate agency yeah. I am just a blogger. 🙂  We will know who’s right very soon anyway. 4th March 2021 is the meeting of the Monetary Policy Committee (MPC) and an announcement follows very quickly most of the time after the MPC meeting.

Yes, all these OPR decisions will definitely have an impact on the property market oo. Happy waiting.

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OPR is for the economy. It’s not for property, ok?

A good friend who’s a property investor said that with the Overnight Policy Rate (OPR) rate down, this will spur the property market. This was the earlier article:
Lower mortgage rates, lower FD rates loh.
  While I cannot say I totally disagree with her statement but I have to say that the OPR adjustment downwards is NOT because Bank Negara Malaysia (BNM) wants to spur the property market. If I am wrong, any BNM officer please do correct me yeah.

The OPR adjustment is a pre-emptive measure because the BNM may have seen that the economy needed a boost especially with happenings all over the world today. Remember, when the world economy is not growing fast enough and there’s all these tensions created by that largest economy, then we need to think ahead. If you like to
know what’s happening to the world economic growth, click here.

More importantly, everyone must understand that if property market is booming but the economy is not doing well, these transactions are purely speculative in nature. Property transactions should only happen because people have a stable salary, saved money and needs a home sweet home. In brief, more businesses decides to expand and thus creating more jobs and this in turn meant more people have money which they could spend and then the economy moves upwards.

It’s also not an easy decision for BNM because a lower rate meant that some retirees who rely on their savings in Fixed Deposits will have to adjust their spending slightly too. A lower rate will also help to encourage people to put their money into better investments versus just leaving them in the bank for example. This is like a boost for the whole economy which is not a bad thing. If people starts to do the wrong thing; using the money to speculate on properties for example, then BNM may adjust back the rates upwards.

Again, all these are monetary policies.  Need a brief understanding, read here: “Monetary policy consists of management of money supply and interest rates, aimed at achieving macroeconomic objectives such
as controlling inflation, consumption, growth, and liquidity.”
  If we read the whole definition statement, there’s no mention of property at all. This is really about the economy, about our economy yeah.  Happy understanding.

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OPR increased from 2.25% to 2.5% because economy is stronger.

We have higher Fixed Deposit Rates. We have higher home loan repayments too.

These two are reasons why it’s not an easy decision to make; increasing the Overnight Policy Rate (OPR). Some people may be happy with higher fixed deposit rates. Some may now feel the pressure of paying higher for their home loans. In other words, if there is a chance that majority of everyone will fail to pay their home loans, do we still think that Bank Negare Malaysia (BNM) will increase the rate? This is why BNM says that the ‘economy is stronger.’

Do read in full what BNM said about the recent OPR increase.
Full report from BNM here.

Future of economy Malaysia?

How BNM decides on the rate will also tell us their expectations too. Usually, the higher the rate, the higher the chances that people may prefer to put their money in the bank instead versus taking it out and investing it somewhere for higher returns. However, if the economy is growing strongly, then people will still prefer to invest their money versus leaving them in the bank because they have the confidence to invest.

This is why when the economy is not doing well, the central bank will reduce the rate so that people have less incentive to keep their money in the bank and will prefer to find other investments instead. This is how the economy could be encouraged to grow and this has been happening for a long time due to the effects from the COVID-19.

Ringgit reflective of the economy?

You can proceed to believe what you like to believe yeah. This is my blog so I tell you what I believe. If you believe ringgit is not doing well versus USD and thus the economy is not doing well, then please do google yeah. It also meant that all those advanced economies are all NOT doing well because USD has also become stronger versus all other currencies.

Whether it’s the AUD or Pound or Japanese Yen or the Euro, all these currencies are all doing badly versus the USD within the past 12 months. So, stop being fooled by people who are trying to sell you their product and services and just simply show you one currency and tell you all the gloom and doom.

By the way, read this whole article yeah. I did not say the Malaysian economy is super strong. However, our economy is definitely going stronger with every passing month. Malls are definitely patronised by more people. Visitors are definitely coming into Malaysia again. Exports are still growing because the whole world starts to recover as well. All these are happening. Until the next article, happy reading more from all sides and not being stuck with a super narrow view of some opportunists.

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OPR is maintained at 3 pct because of a few valid reasons

I do NOT believe we should keep increasing rates just so RM could get stronger

Until today, I still have friends who continue to think the Malaysian economy is collapsing soon. Every now and then they would put out negative statements in their social media but somehow they still want to have higher salary, still hope for promotions and more.

I wonder what would they really do if that happens. Get an opportunity to buy great assets at super low prices? Property in a popular neighbourhood at the price of a not popular neighbourhood? (yeah, sure…)

Buy up some shops which the business is supposed to be great but because of crisis it had to stop and when the economy gets better it will be back? (Yeah… I am very sure…)

Or when the economy is bad, then their company or their business would suddenly prosper while every other business just have to fold? (Yeah… keep dreaming)

I am not sure if I would be right but I do wish that I am right and that it the economy will continue to move upwards even if it’s not as fast as I hope it would. One major weakness we have? Definitely the abolishment of the GST which has caused so many thoughts about what new taxes to introduce just to replace the effectiveness and efficiency of the GST. (which is used by over 100 countries in the world including that country down south which everyone says we should follow)

Anyway, coming back to Malaysia.  Our Overnight Policy Rate is maintained. This means your FD does not get more money and your home repayment does not increase too. Happy reading the statement below.

Statement source:
https://www.bnm.gov.my/-/monetary-policy-statement-06072023

Monetary Policy Statement

Embargo :
Not for publication or broadcast before 1500 on Thursday, 6 July 2023
6 Jul 2023At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent.The global economy continues to expand, driven by resilient domestic demand supported by strong labour market conditions. Global growth, however, remains weighed down by persistent core inflation and higher interest rates.

While China’s reopening remains supportive of the global economy, its pace of recovery has slowed in recent months. Globally, headline inflation continued to moderate, but core inflation remains above historical averages. For most central banks, the monetary policy stance is likely to remain tight. The growth outlook remains subject to downside risks, mainly from a slower momentum in major economies, higher-than-anticipated inflation outturns, an escalation of geopolitical tensions, and a sharp tightening in financial market conditions.

Following a strong outturn in the first quarter of the year, the Malaysian economy expanded at a more moderate pace in recent months as exports were weighed down by slower external demand, as expected. Growth for the remainder of the year will continue to be driven by resilient domestic demand. Household spending continues to be underpinned by favourable labour market conditions, particularly in the domestic-oriented sectors. Tourist arrivals have been steadily improving, and are expected to continue rising, thereby lifting tourism-related activities. Investment activity would be supported by continued progress of multi-year infrastructure projects.

Domestic financial conditions also remain conducive to financial intermediation amid sustained credit growth. While the growth outlook is subject to some downside risks stemming from weaker-than-expected global growth, upside risks mainly emanate from domestic factors such as stronger-than-expected tourism activity and faster implementation of projects.Headline inflation has continued to ease amid lower cost factors.

While core inflation has also moderated, it remains elevated relative to the long-term average amid lingering demand and cost factors. For the second half of 2023, both headline and core inflation are projected to trend lower, broadly within expectations. Risks to the inflation outlook remain highly subject to the degree of persistence in core inflation, changes to domestic policy on subsidies and price controls, as well as global commodity prices and financial market developments.

At the current OPR level, the monetary policy stance is slightly accommodative and remains supportive of the economy. The MPC continues to see limited risks of future financial imbalances. The MPC remains vigilant to ongoing developments, and will continue to monitor incoming data to inform the assessment on the outlook of domestic inflation and growth. The MPC will ensure that the monetary policy stance remains conducive to sustainable economic growth amid price stability.
See also
:

Monetary Policy Statement (MPS) Snapshot: July 2023

Frequently Asked Questions

Bank Negara Malaysia
6 July 2023

— end of statement —

Happy believing. Just need to take the right actions and not just talk, talk, talk and no action.

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Yes, OPR stays at 3 percent; accommodative stance for economy.

Malaysians who want to know a bit more about our own economy should read Bank Negara Malaysia (BNM)’s statements. Most of the time, it’s concise enough and comes with many numbers and stats that helps us to understand what is really happening. Sorry, there are no statements such as ‘Malaysian economy is good’ but without any supporting facts and figures. Today, BNM has decided to maintain the Overnight Policy Rate(OPR) at 3.00 percent. Yes, some would say that because of this, it makes ringgit unattractive and it may drop further. I would like to reiterate. Ringgit’s rise and fall currently is totally due to expectations of one particular economy. Unless the speculations stop, nothing further needs to be done. Just manage the volatility would be good enough. Read on yeah.

— BNM’s Press Release —

At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent.

The global economy continued to grow at a moderate pace. Economic activity in major advanced economies has improved but remains moderate. In Asia, growth has been supported by domestic demand amid persistent weakness in the external sector. Looking ahead, the baseline estimate is for global growth to improve slightly in 2017. The prospect of a shift towards progressive use of fiscal policy in the developed economies could lead to a more balanced policy environment that would support growth going forward. Nevertheless there is uncertainty arising from risks of protectionism and financial market volatility. Heightened financial market volatility in recent weeks has had an adverse effect on various asset classes, exchange rates and yields across many emerging economies. Global financial market conditions are likely to be susceptible to policy and market developments.

The domestic economy continued to expand in the third quarter of the year, driven mainly by private sector activity with some support from net exports. Going forward, private sector activity will remain the key driver of growth. Private consumption is expected to be sustained by continued wage and employment growth, with additional support from Government measures to increase disposable income. Investment activity, although moderating, will be supported by on-going infrastructure investments and capital expenditure in the manufacturing and services sectors. On the external front, exports are expected to expand but will be constrained by soft demand from Malaysia’s key trading partners. Overall, the domestic economy remains on track to expand as projected in 2016 and 2017.

Headline inflation for 2016 is expected to be at the lower end of the projected range of 2.0% – 2.5%. Inflation is expected to remain relatively stable in 2017 given the environment of low global energy and commodity prices, and generally subdued global inflation.

The ringgit, along with most emerging market currencies, has experienced sharp adjustments and significant volatility due to continuing uncertainties in global economic and policy environment, and geopolitical developments. These factors could result in periods of volatility in the regional financial and foreign exchange markets. In this regard, Bank Negara Malaysia will continue to provide liquidity to ensure the orderly functioning of the domestic foreign exchange market. The capital market remains accessible, deep and liquid. Banking system liquidity is ample. Financial institutions continue to operate with strong capital and liquidity buffers and the growth of financing to the private sector is consistent with the pace of economic activity.

At the current level of the OPR, the degree of monetary accommodativeness is consistent with the policy stance to ensure that the domestic economy continues on a steady growth path amid stable inflation, supported by continued healthy financial intermediation in the economy. The risk of destabilising financial imbalances has been contained. However, the MPC will be monitoring these risks to ensure the sustainability of the overall growth prospects.

The meeting also approved the schedule of MPC meetings for 2017. In accordance with the Central Bank of Malaysia Act 2009, the MPC will convene six times during the year. The meetings will be held over two days, with the Monetary Policy Statement released at 3 p.m. on the second day of the MPC meeting.

1st – 18 and 19 January 2017 (Wednesday and Thursday)

2nd – 1 and 2 March 2017 (Wednesday and Thursday)

3rd – 11 and 12 May 2017 (Thursday and Friday)

4th -12 and 13 July 2017 (Wednesday and Thursday)

5th – 6 and 7 September 2017 (Wednesday and Thursday)

6th – 8 and 9 November 2017 (Wednesday and Thursday)

— End of BNM’s Press Release —

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No need to sweat, interest rate stays the same

Yes, this has been expected but no one knows until it is announced right? Bank Negara Malaysia (BNM) has maintained the overnight policy rate (OPR) at 3.25%. It said that the stance of supporting growth remains the same. With the current negative sentiment as well as low inflation, it is better to have a rate which is low enough to encourage investment and economic activities. BNM said that growth remains even if the pace has moderated. The latest numbers are all pointing to a slowdown. Retail even showed a negative growth for Q2 2015! Read here:
Retail sales still growing BUT forecast is lowered again

Two major reasons supporting growth include the people’s adjustment to the GST and a stable employment market which contributes to continuous wage growth as well. One point to note is that there has been some negative news about retrenchment activities in Malaysia recently. MAS, CIMB and JVC are the three widely reported ones. However, according to HLIB Research, the current retrenchment trend reflect mainly adjustment to business cycle as well as cost reduction. Currently, this is still considered one-off and temporary.

Domestic economy will remain the key drive of growth. One look at the world economy would tell us the same picture. Of course, despite the current weaker sentiment, inflation is likely to be higher due to impact from GST and the higher fuel prices recently. BNM expects these to moderate towards the second half of 2016. Ringgit has been depreciating but where the domestic financial system is concerned, there remains ample liquidity. Banks are also at very strong levels with strong capital and liquidity buffers.

It’s not hard to see if the conditions are getting tougher. For example, if it gets almost impossible to borrow loans. This would point to the sign that the banks no longer lending because they are afraid of bad loans building up etc. Currently, I have not read of any wide-spread loan rejections. In fact, the loan rejection numbers are actually decreasing. Read here:
Easier to get loan approval, a good sign?

Yes, my personal belief remains the same. Malaysia is not going to suddenly spin into a technical recession and that the Ringgit remains undervalued based on the existing fundamentals. So, I am still buying selected stocks and will keep them for a while.

written on 10 July 2015

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2021 inflation projected at between 2.5% and 4.0%. OPR stays the same.

Briefly, Bank Negara Malaysia (BNM) has decided that OPR stays the same.

When we need a bigger push to help the economy, the interest rate is one such tool under monetary policy by Bank Negara Malaysia (BNM). However, this should not be used if the market seems to be recovering. Keep it till it’s needed. With the global economic recovery as well as a rebound in GDP growth in Q1 2021 versus 2020, BNM has decided that the current rate of 1.75% for the OPR is accommodative enough. Here is the full press release by BNM.

Monetary Policy Statement

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 1.75 percent.

The global economic recovery continues to strengthen, particularly in the major economies, supported by improvements in manufacturing and trade activity, although the pace may vary across countries. The ongoing roll-out of vaccination programmes and sizeable fiscal stimulus measures in the US as well as policy support in other major economies will further facilitate an improvement in domestic demand. However, the recovery trajectory in some economies could be disrupted by a re-tightening of containment measures to curb COVID-19 resurgences. Recent financial market volatility has somewhat receded, and financial conditions remain supportive of growth. The balance of risks to the growth outlook remains tilted to the downside, due mainly to uncertainty over the path of the pandemic as well as potential risks of heightened financial market volatility.

For Malaysia, latest indicators point to continued improvements in economic activity in the first quarter and into April. While the recent re-imposition of containment measures in select locations will affect economic activity in the short term, the impact will be less severe as almost all economic sectors are allowed to operate. The growth trajectory is projected to improve, driven by the stronger recovery in global demand and increased public and private sector expenditure amid continued support from policy measures. Growth will also be supported by higher production from existing and new manufacturing facilities, particularly in the E&E and primary-related sub-sectors, as well as oil and gas facilities. The progress of the domestic COVID-19 vaccine programme will also lift sentiments and contribute towards recovery in economic activity. The growth outlook, however, remains subject to downside risks, stemming mainly from ongoing uncertainties in developments related to the pandemic, and potential challenges that might affect the roll-out of vaccines both globally and domestically.

Headline inflation in 2021 is projected to average higher between 2.5% and 4.0%, primarily due to the cost-push factor of higher global oil prices. In terms of trajectory, headline inflation is anticipated to temporarily spike in the second quarter of 2021, due particularly to the lower base from the low domestic retail fuel prices in the corresponding quarter of 2020. However, this will be transitory as headline inflation is projected to moderate thereafter as this base effect dissipates. Underlying inflation, as measured by core inflation, is expected to remain subdued, averaging between 0.5% and 1.5% for the year, amid continued spare capacity in the economy. The outlook, however, is subject to global oil and commodity price developments.

The MPC considers the stance of monetary policy to be appropriate and accommodative. Given the uncertainties surrounding the pandemic, the stance of monetary policy going forward will continue to be determined by new data and information, and their implications on the overall outlook for inflation and domestic growth. The Bank remains committed to utilise its policy levers as appropriate to foster enabling conditions for a sustainable economic recovery.

Bank Negara Malaysia
06 May 2021

To read in BNM’s website, click here.

How long has this stayed the same?

A friend from a brokerage firm sent me the historical view of the OPR in the image below. I share it here with all of you. It has not been changed since May 2020 which was a drastic drop as the economy was under lockdown and needed a big push.

Good and Bad, of course

I think the fixed depositors who does not know how else to invest their money would heave a sigh of relief. At least, the FD rate does not drop further. it’s already so low currently. 2% is considered high for FD rates at the moment.

For the home owners who were hoping for another drop in their monthly repayment it is not happening. As for the ones looking to buy a home, be realistic yeah. Current rate of 3-3.2% is as low as it could be and history has always shown a number which is much higher. Any lower also indicate the economy is not doing well. It is not a good sign when that happens.

Till the next MPC then.

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Do you love a comfortable and supportive mattress and pillow like me? Perhaps Origin Mattress?

[Product Sponsored Review] I have moved homes 4 times thus far in my life. From a 730 sq ft to a 1,258 sq ft to a 1,053 sq ft and currently 1,743 sq ft. I would be moving again next year. The home I bought last year is under construction currently. Every time I move, one of the most important thing my wife and I will always want to focus on would be our room; the master bedroom.

Within the master bedroom, the bed is the single most important item because if we have a good sleep, chances are we will start the day fresh and it will be a productive day. The bed is the place we recharge after a full day of being busy. It is the place we get a good rest.

Our Bed Specs Preference
(s)

For the bed, my wife and I have the same preference (fortunately!). It must not be too hard, my wife could not stand it. It must not be too soft, both of us would feel tired if we slept on hotel beds which were too soft. Briefly, the mattress needs to provide support and comfort at the same time. The mattress brand we have purchased and using for two times before this was one which advertises its spine support feature and the brand starts with V. It’s a very established brand and usually you would see its logo in furniture shops. This has changed.

For the last 30 days, my wife and I have been enjoying an award winning mattress brand and an award winning pillow too! This would be that product review. We are now sleeping on a
Queen Size Origin Hybrid® Mattressa
and
Origin Superior Coolmax® Latex Pillow
 (click here to go to their FB page)  I say enjoy because of the following 7 reasons.

#1  Let’s start with the very comfortable pillow.
Ever slept on a pillow which is just too soft and you feel tired after 8 hours? Or a pillow which is too hard and we wake up feeling strains at our neck?
Origin Superior Coolmax® Latex Pillow
 solved all these issues. I have been waking up refreshed every day with this pillow thus far.

Photo Credit: Origin Mattress

#2  Now let’s talk about the mattress.
 It feels cooling and even my son gives it a thumbs up. My wife and my 6 years old son takes afternoon naps almost daily. My son used to complain of the bed being warm with our previous bed but these days, he sleeps comfortably and even his elder sister loves the bed as well. Suffice to say this Origin Hybrid® Mattress is now the most loved bed in the whole house of 4 beds.

#3 Mattress looks luxurious and definitely contemporary.
It’s funny but emotion plays a very important part in everything we do. Even though a bed is only for sleeping, every time we change the bedsheets, we would see the mattress and we would want to feel the fabric, see the nice colour and the stiches and well the softness and smooth feeling when we touch it. This Origin Hybrid® Mattress really do give that kind of feeling of a much more expensive bed brand which I usually see in malls.

Photo Credit: Origin Mattress

#4  I sleep very well every night!
Let me describe in my own words and then we look at the actual composition of the bed after that. When I lie on the bed, it gives me a luxurious feeling and I could feel that all the layers in the bed work well with one another to provide the right support to me. It’s beyond just the spinal support. I feel comfortable and even when I wake up earlier and got out of bed, I would not disturb my wife at all.

#5 Let’s look at the actual 6-Layer mattress now, for the actual composition of the bed.
(from Origin Hybrid® Mattress website)

Photo Credit: Origin Mattress

Photo Credit: Origin Mattress

Photo Credit: Origin Mattress

Photo Credit: Origin Mattress

Photo credit: Origin Mattress

Photo Credit: Origin Mattress

#6 Long Lasting is Super Important.
A bed would usually last a long time and sometimes, the issue is NOT with just the springs. It is these three: Bed Bugs (I have personally faced this issue before!), smells a little strange (fungi) and may even start making us sneeze. Origin Hybrid® Mattress has these three extra features too:

#7 The founders are driving the business seriously
 As the founder of kopiandproperty.com, I always think highly of founders who are equally as serious as me. The founders of Origin Hybrid® Mattress, Shaun and Gee knew buying a mattress is bank busting business. They understood that mattresses were a long term investment and that shopping for one brought endless unfamiliar terminologies and pushy salesmen. Here are both of them posting with their pride, the Origin Hybrid® Mattress.

Credit to
Express photography

Conclusion

This is just an honest review from my wife and I and perhaps our kids too.

If you have been following kopiandproperty.com for some time, you would know we are not affiliated to any media group, not to any developer, not to any real estate agencies and definitely not to any mattress company.

We also do not sell these products yeah. When you buy one and enjoy them just like me, there’s also no need to mention kopiandproperty.com to them yeah, we do not receive any commissions for it. Currently they have a special promotion too.
(click here to go to their FB page)
All the below links do not contain any affiliate links as well.  Thank you for reading and happy sleeping.

For more information, visit them at the following Facebook pages and site.

Origin Mattress Malaysia:
Facebook:
https://www.facebook.com/originmattressmy
Instagram:
http://instagram.com/originmattress_my

Best in Singapore
:

Facebook:
https://www.facebook.com/bestinsingaporeofficial
Instagram:
https://www.instagram.com/bestinsingaporeofficial
                                            Website:
https://bestinsingapore.com/mattress-singapore/

Happy getting a great sleep every night so that we can all have a productive day everyday.

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OSK with total GDV of over RM18 billion (via 1,400 hectares of land)

How many readers of kopiandproperty.com believe that the developers, especially the listed ones would start to report losses beginning 2016? I think the answer is not many, if any. What about the potential for more developers and developments? Especially those newer developers who are converting their available pieces of idle land or those who are buying small pieces of land and launching homes with attractive price tags? Yes, there are many. In other words, market is slow but even currently property development is still a profitable venture.

Reported in a few local medias, within 2016, OSK Property plans to launch properties across Pahang (Timurbay), Penang (Luminari service apartments in Butterworth) and Kedah (Bandar PuteriJaya township new phases). Total Gross Development Value (GDV) for these projects is RM1 billion. No mention about its sales target for 2016. It’s chief executive officer Ong Ghee Bin further stated that, “This year is going to be a very challenging time for the property market. My aim for the group is to continue our journey in the integrated property development sector. We are quite well-positioned due to our retail and hospitality teams. But of course, we will not be too aggressive this year.”

I think this sums up the current cautious sentiments even for developers who seem to be well positioned. OSK Property is formed after the merger of OSK Property Holdings Bhd and the real estate arm of PJ Development Holdings Bhd. While Malaysia is its main focus, OSK Property would also be looking at other countries for opportunities. It’s five acres integrated development in Melbourne is still in the design stage. It includes apartments, hotel, offices and retail. The first phase is expected to be launched by the end of 2016.

OSK Property has also recently purchased 308 hectares of land in Seremban which will be used for an integrated residential and commercial development with a total GDV of RM3.6 billion. No mention of the date of launch but definitely not within 2016. Happy following and buying.

written on 25 Feb 2016

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Osram and the massive RM4.67 Billion Kulim investment

In my previous role, I used to travel to Kulim High-Tech Industrial Park almost weekly. There were many huge multi-nationals there. I always think it’s impressive because somehow Kulim has managed to attract so many international giants to set up their plants there. Talents meanwhile are okay to work there due to the good potential career growth. Many choices for the right ones. The latest one is from OSRAM. It will be investing RM4.67 Billion to construct a new light emitting diode (LED) chip plant which will be the largest and the latest six-inch LED chip production site in the world! This is part of it’s plan to be a global semi-conductor player.

Currently, OSRAM operates in the Bayan Lepas Free Trade Zone and was one of the right pioneer electronic companies which started in the 1970s. With such a huge plant, it will definitely create even more jobs as well as help to attract more new high-technology plants. It will also help to complete the LED ecosystem in Malaysia. Currently, the development and production of LED clusters already include semiconductor devices for LED, wafer fabrication, lighting products and solutions (LED applications – vehicle lighting, backlights and displays). Osram has Asian competitors and said that it intends to achieve a revenue of at least five billion euros by 2020. This is 8 percent growth per year.

I think after much negativity recently from some plants operating in Penang, this is a fresh of good news. Read here:
Not the best news for Penang but stay focussed please

My brother used to work in Osram a few years ago and said that the company treats its employees quite well, a culture of many European companies. Many Kulim based companies also provide slightly better benefits to attract some engineers who are willing to be based there instead of working in the Bayan Lepas Industrial Zone. I wish Osram all the best for its new plant and wish for its success versus its ASIAN competitors which are definitely operating outside Malaysia today. Oh yeah, there are also condos in Kulim which you can buy to rent out to these engineers. Go take a drive and find out more.

written on 12 Nov 2015

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Our Dream may be our nightmare too

Dream Home. Own your dream home. Your dream home is here. Stop dreaming and get a home. The last one’s from me and the first few we have been reading it extremely often these days. Yes, the marketing messages from developers. Occasionally, the word ‘lifestyle’ comes into play, targeting those who believe that they have ‘arrived’ and need more style to keep their image of being successful intact. Be realistic, most of us are staying in our current home because it’s the one we could afford.

As usual, all these ‘dreams’ or ‘lifestyles’ would need us spending ever more money and when we think about it, there’s nothing wrong, really. Assuming we are already a earning good money today, what’s so wrong to enjoy an occasionally holiday, right? The right word is ‘occasional.’ It should not be regular because we just could not afford to have it regularly. That dream home that we are considering extremely hard might just be a nightmare too.Some signs of it being potentially a nightmare?

We nearly destroyed the calculator because the numbers do not really tally. Formula: Our salary – expenses – more expenses – car instalments – potential mortgage payments = Negative. Oops. What went wrong? Well, many things could have gone wrong. Salary not enough might be one, especially if we have been earning almost similar numbers year after year. Expenses may be the one pulling us under. Buy today and pay tomorrow mentality? More expenses, perhaps a new handbag coz the old one was already 2 years old and no longer look trendy. It must be a new car because an old car or even a cheap entry level car meant ‘drop image’ (Hokkien = Lak Seh, Cantonese = Mou Meen and BM = jatuh standard bro) With all these in play, we STILL wanted to dream of a dream home? Think a bit. Something has to give before something can be gained. Decision is often clearer with a piece of paper, pen and calculator. Stop dreaming and start acting. Cheers.

written on 7 Oct 2016

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Our Economic Recovery Plan: Focus on just 3 things

Within the last 5 years, these were our GDP growth numbers. No longer like the 80s or the 90s but very healthy numbers nevertheless. Our reliance only on oil revenues have also dropped over the years and this should be good for the economy. Well, if only GST is still around, it could play its part too. Anyway, the below were the numbers for the last 5 years. 2015 – 2019 GDP growth in Malaysia.

It’s likely to be a negative number for 2020 as per BNM’s earlier forecast. Thus, we need a plan, fast. This plan will carry us through 2020 to set a base and for a recovery in 2021. The plan will be unveiled by the Prime Minister this week. It’s called the Economic Recovery Plan (ERP).

Article in nst.com.my
  Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that the Economic Recovery Plan (ERP) has three main goals: empowering the rakyat, propelling businesses and stimulating the economy. ERP will have four main features.

Agile and dynamic; needs continuous refinements because current situation is unprecedented
Focused on public-private partnership; beyond just the GLCs or GLC investment companies.
Comprehensive communication and outreaching; beyond just the business community, if the rakyat understands, they can also play their part in revitalising the economy.
Data-based approach; implementation will be based on data and statistics and every achievement monitored and refined quickly and accurately.

This ERP will focus on the periods of June – December 2020. It will be announced by the Prime Minister this week. This will be the 4th phase on Malaysia’s efforts to address economic issues from COVID-19 pandemic. The Finance Ministery has held sessions with 100 stakeholders from various industries including tourism, social entrepreneurs, creative industries and trade unions since the start of May.
Please do read the full article in nst.com.my

Image below is from Tengku Zafrul’s FB page. It depicts the stage which we are in currently.

I think the focus is on effective implementation of all these plans. The feedbacks have been received and have definitely been refined. It will definitely not be agreed by all stakeholders. However, if the effect is going to be positive (based on estimations), let’s go ahead and continue refining it periodically. Normalisation has definitely started with more people back to work.

What should happen now is to have more people working at what they do best, again. Earning their full monthly salary again. Spending the money like how they used to do, again. Businesses to understand that the current interest rate gives them an opportunity to plan for expansion too. The only catch is that we need to do this with COVID-19 still in our midst. This is unprecedented but I think Malaysians can do it.  Right fellow Malaysians? Happy listening to the ERP announcement yeah.

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