South East Asia Property Awards (Malaysia) – All the winners

It was an honour to be invited for South East Asia Property Awards (SEAPA) held in Intercontinental Hotel yesterday evening. Thank you
propertyguru.com.my
  and would love to be invited every year. I enjoyed the evening thoroughly as I met many developer and media friends. The top honour in SEAPA (Malaysia) went to Sime Darby Property Berhad. It won the Best Developer (Malaysia) and a Special Recognition in Sustainable Development. All other winners in no special order as follows: (Time to visit these projects to understand in more in-depth why they won the awards)

The complete list of Winners and Highly Commended in the South East Asia Property Awards (Malaysia) 2016 is below:

DEVELOPER

Best Developer

Winner:
 Sime Darby Property Berhad

Best Boutique Developer

Winner:
 Mitraland Group

Special Recognition in CSR

Winner:
LBS Bina Group Berhad

Winner:
Mah Sing Group

Winner:
Matrix Concepts Holdings Berhad

Best Green Development

Winner:
Serai, Bukit Bandaraya, KL by BRDB Developments Sdn Bhd

Special Recognition in Sustainable Development

Winner:
 Sime Darby Property Berhad

Winner:
 United Malayan Land Berhad (UMLand)

BEST OF THE BEST

Best Commercial Development (Malaysia)

Winner:
Medini 10 by Medini Iskandar Malaysia Sdn Bhd

Best Residential Development (Malaysia)

Winner:
Serai, Bukit Bandaraya, KL by BRDB Developments Sdn Bhd

DEVELOPMENT

Best Residential Development (North Malaysia)

Winner:
Moulmein Rise by Belleview Group

Highly Commended:
Upper East @ Tiger Lane, Ipoh by Curah Bahagia Sdn Bhd

Best Luxury Condo Development (Central Malaysia)

Winner:
Serai, Bukit Bandaraya, KL by BRDB Developments Sdn Bhd

Best Mid-Range Condo Development (Central Malaysia)

Winner:
Skyz Residence by IOI Properties Group Berhad

Highly Commended:
BSP21 by LBS Bina Group Berhad

Highly Commended:
Serini Melawati by Sime Darby Property Berhad

Best Housing Development (Central Malaysia)

Winner:
Tamansari, Rawang by BRDB Developments Sdn Bhd

Highly Commended:
Clusia by Sime Darby Property Berhad

Highly Commended: Elymus @ Resort Homes by Matrix Concepts Sdn Bhd

Best Luxury Condo Development (South Malaysia)

Winner:
Puteri Cove Residences by Pacific Star Group

Highly Commended:

Imperio Residence @ Hatten City by Hatten Group Sdn Bhd

Best Mid-Range Condo Development (South Malaysia)

Winner:
D’Lagoon – Development by the Lake by United Malayan Land Berhad (UMLand)

Highly Commended:
 The Atlantis Residences @ Kota Laksamana, Melaka by Asal Harta Sdn Bhd

Best Housing Development (South Malaysia)

Winner:
The Crystal by Genting Property

Highly Commended:
 Raintree Residences by Genting Property

Best Commercial Development

Winner:
Medini 10 by Medini Iskandar Malaysia Sdn Bhd

Best Mixed-Use Development

Winner:
D’sara Sentral by Mah Sing Group

DESIGN

Best Residential Architectural Design

Winner:
The Crystal by Genting Property

Highly Commended:
 Puteri Cove Residences by Pacific Star Group

Best Residential Interior Design

Winner:
Puteri Cove Residences by Pacific Star Group

Highly Commended:
 The Crystal by Genting Property

Best Landscape Architectural Design

Winner:
D’Lagoon – Development by the Lake by United Malayan Land Berhad (UMLand)

PUBLISHER’S CHOICE

Real Estate Personality of the Year

Winner:
Chuah Theong Yee, Group CEO, Mitraland Group

— End —

written on 12 Aug 2016

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Malaysia’s finest developers come out for South East Asia Property Awards (Malaysia) 2016

New supply from outstanding Malaysian developers shows the market’s continued signs of recovery

Prestigious property tilt welcomed more entrants in 2016, with 15 developers being shortlisted

New categories are added this year for Best Boutique Developer and Special Recognition in Sustainable Development

Property Report Congress Malaysia launched to highlight the resilience of the real estate industry

KUALA LUMPUR, Malaysia – 21 July 2016

The Malaysian real estate industry leaders have spoken and today unveiled the official list of nominees for the third annual South East Asia Property Awards (Malaysia) 2016, the country’s most prestigious industry honours organised by the PropertyGuru Group.

One of Malaysia’s leading multinationals, Genting Property, dominates the list of nominees with four nods going to its residential developments; two of them, The Raintree and The Crystal, are even competing against each other for the Best Housing Development (South Malaysia) gong.

Not to be outdone, three established real estate firms – namely Sime Darby Property Berhad, United Malayan Land Berhad (UMLand), and Pacific Star Group – clinched three nominations each for their exceptional mid-range and luxury condominium projects located in South and Central Malaysia.

Sime Darby and UMLand, both Highly Commended for the Best Developer award in 2015, are also shortlisted this year in a new category for Special Recognition in Sustainable Development.

In its three-year history, the South East Asia Property Awards (Malaysia) have gathered the country’s biggest and emerging developers to celebrate their achievements, despite certain challenges the industry has witnessed in the last couple of years.

According to 30-year property veteran Prem Kumar, executive director of Jones Lang Wootton, and the chairman of this year’s central panel of judges, the Malaysian real estate sector has always been known to be resilient and its long-term growth will not be hampered by a temporary market slowdown, especially in view of government policies that have always encouraged growth of the sector as one of the key contributors to the advancement of the Malaysian economy.

Positive signs are being seen in the sector as the South East Asia Property Awards (Malaysia) returns for a third consecutive year. Real estate investors are said to be warming up again to the idea of purchasing local properties with the prospect for long-term capital appreciation, based on the latest Malaysia investor sentiment report from PropertyGuru.

“The annual South East Asia Property Awards (Malaysia) showcases the year’s best properties and investments, which have gone beyond mere financial gains and specific attributes pertinent to the difference and enhancement it has created in the property industry,” comments Kumar.

The 2016 central panel of judges, comprising prominent leaders in real estate development, management, architecture and design, have been working together in the last few months under the fair and transparent supervision of BDO, one of the world’s biggest accountancy and auditing firms, to deliberate on the eligibility and quality of nominations.

Aside from returning contenders Mah Sing Group, IOI Properties Group Berhad and Hatten Group Sdn Bhd, first-time nominees such Belleview Group, Curah Bahagia Sdn Bhd, LBS Bina Group Berhad, Matrix Concepts Sdn Bhd, Asal Harta Sdn Bhd, EweinZenith Sdn Bhd, and Medini Iskandar Malaysia Sdn Bhd, have also come out to prove that the industry is on the road to recovery.

“We are delighted to reveal the official shortlist of the third annual South East Asia Property Awards (Malaysia) to celebrate the finest developments in the country,” says Terry Blackburn, founder and managing director of the Asia Property Awards, which is now in its 11th year.

“While the industry has certainly faced some hurdles in the past quarters, our international Awards programme recognises the strengths of Malaysian real estate and provides a credible platform to showcase their innovations and world-class developments to a wide, regional audience.”

As is the with the other Asia Property Awards events in ASEAN, the Best of the Best winners in Malaysia will move on to compete in Singapore at the South East Asia Property Awards grand finals in November.

In addition to the 15 award categories in Malaysia, the editors of industry-leading
Property Report
magazine will present the Real Estate Personality of Year accolade to an individual who has contributed significantly to the property sector in the past year. It is the only award not selected by the judging panel.

YB Datuk Chua Tee Yong, the Deputy Minister of the Ministry of International Trade and Industry, is confirmed to be the Guest of Honour of the South East Asia Property Awards (Malaysia) 2016 Gala Dinner, which expects to welcome some 300 guests.

The black-tie event will boosted by the support of title sponsor Hansgrohe, a leading global manufacturer of innovative and designer bathroom products, official media partner
Property Report
, host of the high-level real estate networking conference Property Report Congress Malaysia 2016, which debuts in Kuala Lumpur right before the annual Gala Dinner, as well as the network of 16 million real estate consumers of the PropertyGuru Group, including Malaysia’s No. 1 property portal, PropertyGuru.com.my.

Early bird tickets to Malaysia’s premier real estate event are offered until 26 July only. For tickets and more information, contact info@asiapropertyawards.com or visit the official website:
AsiaPropertyAwards.com/southeastasiapropertyawardsmalaysia/

The full list of official nominees in the South East Asia Property Awards (Malaysia) 2016 is below:

DEVELOPER

Special Recognition in Sustainable Development

Sime Darby Property Berhad

United Malayan Land Berhad (UMLand)

DEVELOPMENT

Best Residential Development (North Malaysia)

Moulmein Rise (Luxury Suites) by Belleview Group

Upper East @ Tiger Lane, Ipoh by Curah Bahagia Sdn Bhd

Best Luxury Condo Development (Central Malaysia)

Serai, Bukit Bandaraya, KL by BRDB Developments Sdn Bhd

Best Mid-Range Condo Development (Central Malaysia)

BSP21 by LBS Bina Group Berhad

Serini Melawati by Sime Darby Property Berhad

Skyz Residence by IOI Properties Group Berhad

Best Housing Development (Central Malaysia)

Clusia by Sime Darby Property Berhad

Elymus Resort Homes by Matrix Concepts Sdn Bhd

Tamansari, Rawang by BRDB Developments Sdn Bhd

Best Luxury Condo Development (South Malaysia)

Imperio Residence by Hatten Group Sdn Bhd

Puteri Cove Residences by Pacific Star Group

Best Mid-Range Condo Development (South Malaysia)

D’Lagoon – Development by the Lake by United Malayan Land Berhad (UMLand)

The Atlantis Residences @ Kota Laksamana, Melaka by Asal Harta Sdn Bhd

Best Housing Development (South Malaysia)

The Crystal by Genting Property

The Raintree by Genting Property

Best Commercial Development

Medini 10 by Medini Iskandar Malaysia Sdn Bhd

Best Mixed Use Development

D’Sara Sentral by Mah Sing Group

DESIGN

Best Residential Architectural Design

City Of Dreams by EweinZenith Sdn Bhd

Puteri Cove Residences by Pacific Star Group

The Crystal by Genting Property

Best Residential Interior Design

Puteri Cove Residences by Pacific Star Group

The Crystal by Genting Property

Best Landscape Architectural Design

D’Lagoon – Development by the Lake by United Malayan Land Berhad (UMLand)

Note:
The awards for
Best Developer
,
Best Boutique Developer
,
Best Residential Development (Malaysia)
 and
Best Commercial Development (Malaysia)
 will be revealed during the Gala Dinner.

About South East Asia Property Awards (Malaysia):

Returning for a third successful year in 2016, the South East Asia Property Awards (Malaysia) is part of the regional Asia Property Awards programme. The South East Asia Property Awards (Malaysia) is the most credible and prestigious industry awards in the country, with the top and emerging names in real estate celebrating the best developers, projects and designs in the country’s top-tier markets and emerging destinations.

About Asia Property Awards:

The Asia Property Awards are the largest real estate event in Asia, playing host to annual gala dinners for up to 600 C-level executives and leading industry figures in Singapore, Hong Kong, Bangkok, Kuala Lumpur, Manila, Jakarta, Yangon, Phnom Penh and Ho Chi Minh City. The Awards programme has an unparalleled reputation for being credible, fair and transparent, with an independent panel of judges and trusted awards supervisor.

Originally launched by Ensign Media in Thailand in 2005 at the height of Asia’s property boom, the Asia Property Awards in 2016 became part of PropertyGuru, Asia’s leading online property group.

About PropertyGuru Group:

Founded in 2006, PropertyGuru Group is Asia’s leading property media group used by more than 16 million property buyers, viewing over 130 million property pages and generating over 500,000 enquiries for real estate developer and agent advertisers every month across Singapore, Malaysia, Indonesia and Thailand. The Group has a full suite of integrated property media capability, from its original core business in online, mobile and events, to television broadcast (in Indonesia, via an investment and partnership with EMTEK), and a recent acquisition of print and events businesses, under the brand names of “Property Report” and “Asia Property Awards”.

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Penang is getting bigger, 3,398 acres or even bigger?

I love the fact that Penang has a huge Penang Transport Master Plan (PTMP) worth RM27 billion. I hate the fact that every reclamation must be met with huge objections from everyone who’s affected directly, not affected directly and hope to be affected somehow indirectly. I love the fact that Penang has adopted the Project Delivery Partner way which I think is a very good model made popular by MRT 1. Well, as per reported in The Edge Property, SRS consortium has already proposed for the reclamation of two plots of lands in the southern coast of Penang island to fund the PTMP. These two man-made islands, located near Permatang Damar Laut, will be known as the South Reclamation Scheme (SRS) spanning 930ha and 445ha. Yes, in acres, it is 3,398 acres.

This is not all, a third plot of 323ha land beside the two man-made islands have also been identified for future demand. According to SRS Consortium, an internationally reputed water environment expert called Danish Hydraulic Institute has already confirmed that the identified coast was suitable for reclamation because the area is a natural bay with weak tidal currents, shallow water and natural shelter from the effects of tsunami. It has limited environmental sensitivity, with no seagrass or coral reefs. Of course, one affected party would be the fishermen and SRS said they will engage them.

SRS Consortium’s project manager Szeto Wai Loong said that the reclamation would see a new smart green city called SRS Smart City and it due to its size, it will be pushing Penang’s economic engine for the next 50 years. Since this new city’s location is near to Bayan Lepas, it would allow for rooms for expansion to the FTZ’s 471 SMEs and 117 multinational companies to expand. Besides housing, there will also be a 5km beach, a 25km coastal park, a 30km waterfront and 283ha of green areas. These would be served by an efficient rail transit system serving the new city.

SRS Consortium is a company formed by public-listed Gamuda Bhd and two local property firms – Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd. Some of the components for the PTMP were trams, monorail, light rail transit lines, e-bus, bus rapid transit, pan-island expressway, a catamaran system and a RM100mil highway interchange upgrading project. Before everyone said, YES, well, Penang Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the project was still “a work in progress”. He said that there were no approval given thus far and the submission of a detailed environmental impact assessment would only be done by June 2016.

As long as the project starts, I do think Penang’s growth would continue for many more years to come. Whether it’s 50 years or not matter little. Just get this started, somehow. Please ensure a new airport is built to replace the current one which would be reaching full capacity in just years. The state government needs to know that no companies would be expanding if they know that the international airport right next to them is FULL…. Happy loving Penang!

written on 1 Dec 2015

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Study tour and property talk – Southern KL

My good friend Miichael Yeoh has invited me to share my thoughts about MRT and property. This is Southern KL
Study Tour organised by GM Training Academy.

Details as per the e-Flyer below. See you there.
Register here yeah.

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Unsold SOVOs and SOHOs will take 12 months to clear. (or up to 5 years)

SOHO stands for Small Office Home Office. SOVO stands for Small Office Versatile Office.  There’s also SOFO which stands for Small Office Flexible Office. All are supposed to be very useful for small business owners who may be working alone or with a small team and does not need the usual shoplots. Most of the time, these small office buildings also have security arrangements which meant that it’s also safer too.

If you ask me, I think if I am working only by myself, I will prefer to get a Hot Desk in aco-working space instead. The reason is mostly due to cost as well because getting a SOHO unit will mean some downpayment is necessary. So, what’s happening to the SOHO / SOVO scene in the property market today? Let’s listen to Zerin Properties managing director and chief executive office Previndran Singhe’s opinions.

Article in edgeprop.my here
  Zerin Properties disagreed with CBRE|WTW managing director Foo Gee Jen in an article last week that should prices not correct substantially, it will take the next five years to clear unsold stocks of SOHOs and SOVOs. Zerin Properties managing director and chief executive officer Previndran Singhe said, “We would like to make it clear that this is misleading and untrue, given the fact that the supply is less than 20% of the total overhang nationwide of said properties.”

He explained further, “KL has been the main driving force of the recovery of the property market and based on simple extrapolation of sales of 2,500 units a year, if no new launches this would be absorbed in a year.” Previndran called on the government to be bolder to address the current overhang issue in the country. “This would include taxes reverting back to reasonable RGPT (real property gains tax) rate, faster Malaysian My Second homes processing, early announcement or HSR (High-Speed Rail) recommencement among others.”
Article in edgeprop.my here

I have no idea on whether it’s 1 year or 5 years but please note that if we are really interested with these SOHO or SOVO units, then it’s super important to look at the price of such a unit as well as the potential returns. If the possible rental is super small versus the mortgage, it spells ‘danger.’ If it’s for investment, then at least understand what are the prevailing rental in the same area. It’s not good enough to just look at the discount because the price may still be too high for comfort.

If it’s for own use, then just need to make sure it meets most expectations. Just remember the unit will not be used for a very long time because when the business expands, more people will need to be hired and a single unit of SOHO may no longer be enough. Small it may be, the price may still be hundreds of thousands of ringgit. Happy understanding and deciding.

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SP Setia: 800sf – RM170,000 and 900sf – RM200,000

Nope, that’s not a typo. It’s really the SP Setia with their Rumah Selangorku project. Slated to be launched soon. The smaller unit of 800sf would be priced at RM170,000 and the bigger one, RM200,000. I think, the bigger unit would be much more popular in this case. In a recent press conference, SP Setia also told the press that when they say affordable, it meant RM500,000 to RM1 million. Thus I think for these Rumah Selangorku projects, it should be known as super affordable. 🙂

Some time back, I wrote about all these developers having to follow the market and should not be the ones dictating the market. The reason I say so was because one major reason why prices went up was also due to the composition of new condos being built. Everyone was trying their best to offer ever ‘better’ condos and thus ever higher prices. The buyers meanwhile were persuaded to buy so that they can lock in the prices because the next one is definitely going to be higher. Fat chance. These increases do not last forever and we see today, the developers are more objective since the buyers are now able to see clearer.

Some people say that the main reason why developers do not like affordable projects is because of the low profit margin. I seriously do not think any listed company would want to build these affordable units, thus wasting their resources and in the end get lower profits. I seriously think all these affordable units may give almost the same because the land cost may be close to free, the density may be much higher than usual and the marketing related expenses nearly none. Come on, the reason why you read this article was simply because of the price, right? Haha. Yes, I think more of these branded developers would be building these affordable homes for Malaysians. I love that.

written on 20 June 2015

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SP Setia and Maison Carnegie, Melbourne.

SP Setia is launching its third project in
Melbourne, Australia
. The speed of the launch is pretty fast because it had acquired the land just 6 months ago for A$6.68 million. (RM20.2 million) The project is called Maison Carnegie and it would be completed towards end of 2017. Another amazing speed, when compared to the usual time lines in Malaysia. The gross development value (GDV) is A$32mil (RM97 million). In this case, the land cost comes to
 21 percent of GDV.
 Hope some of my friends would understand why I think the margins for developers in Malaysia remain healthy thus far when compared to the usual margins in developed markets.

The great thing about these more advanced markets is the speed. Thus, on an overall basis, perhaps a lower margin remains to be good versus higher margin over a longer construction and delivery period. No wonder sombre suggesting that if speed of approvals can be faster, homespun be made cheaper. Read here:
You make it faster, I make it cheaper

The project is made up of 48 affordable luxury units in a low density of four-storied apartments and the properties are being priced at an average price of A$667,225. Starting price looks acceptable to me, at just A$452,000. The median price in Melbourne is already far higher. Read here:
Be reminder, median price is A$690000 today

According to the report (I have not been to Melbourne),

Carnegie is an established residential location in south-east Melbourne, located 12km from the city’s central business district (CBD).

The targeted buyers according to SP Setia’s Melbourne Choong Kai Wai (pic), the chief executive officer of S P Setia Australia are local buyers, especially first time home buyers. This is because of the attractive lower entry price point. Choong said: “Carnegie is also close to the rail network, has good amenities and is within food and retail precints and schools. There is also the Caulfield campus of Monash University and the Chadstone shopping mall, which is Australia’s largest. The value in this area will appreciate and this will be a key driver for buyers to invest here.” This is the third project for SP Setia in Melbourne after two sold out projects earlier,
Fulton Lane and Parque.
 There are two more pieces of land that SP Setia has acquired too. One 1.02-acre plot of land in the east end of Melbourne’s CBD for A$101mil and another smaller piece in Prahran, south-east Melbourne, for A$10mil. Happy reading success stories of successful Malaysian developer in advanced property markets.

written on 18 June 2016

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SP Setia, Bangsar, Luxury and Boutique offices

When you mix a company which knows how to build and sell luxury and a piece of land which is surrounded by all the upper market properties, you get SP Setia, Bangsar, luxury and boutique. Under a filing to Bursa, SP Setia’s subsidiary, Setia Federal Hill Sdn Bhd will be building a new integrated health and research institute (1National Institute of Health Complex) in Setia Alam, Selangor and they will be given a pieces of land of 21.2ha in Jalan Bangsar. The value of the 1NIH? RM845 million.

This is not all, in addition of the 1NIH project, SP Setia will also pay the government RM217.1 million as a minimum guarantee profit (MGP) for the planned mixed development at the Bangsar land. It also stated that, “In the event 20% of the actual profit before tax for the relevant phase of the development is higher than the MGP, SFHSB shall pay the government the sum representing the difference thereof.” I think this is an example of a good private-government initiative.

SP Setia’s plans for the piece of land in Jalan Bangsar includes luxury residential apartments and integrated commercial products such as boutique and strata offices. This should appeal to buyers who loves the upmarket properties within the affluent Bangsar and Federal Hills areas.

Bangsar is considered a very prestigious area as there is a huge expatriate community there as well. Personally I have been there a few times and I love my friend’s place there which obviously is now millions. Landed properties would be the first choice when you think of Bangsar. Nevertheless, if you think of condo, the prices range from RM700 to RM1,000 psf which meant that even if the condo is only a 1,000 square feet, be prepared to pay lots of money for it.

written on 21 June 2014

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SP Setia: Battersea not ‘battered’ at all

The stock market and the currency seem to have stabilised somewhat after a few days of uncertainty, fear and chaos. Perhaps people have realised that referendum
(BREXIT)

has ended but nothing has changed just yet. It may change in the future but as of now, the UK government has not yet even submitted their application to leave the European Union. It would also not be sooner than after the appointment of a new Prime Minister to replace David Cameron. This is expected to be in September 2016 or later. There are also news that London’s loss may be Asia’s gain. I also still think this is too early to tell. If I am one of those super-wealthy, London remains my choice. European Union is a huge market but
London remains a capital
 for many things in the world today.

The developers with exposure to London is currently under scrutiny and one of them have announced to the prospective investors that everything just fine. SP Setia said that it is positive with the long term prospects of Britain’s Battersea Power Station and the uncertainty currently will not stop from completing the project. It has a 40 percent stake in the project together with
Employees Provident Fund (20 percent)
 and the Sime Darby Group (40 percent).

Results thus far is encouraging. It has sold 85% from the total of 1,661 units launched for
Battersea in three phases.

In fact Phase 1 is scheduled to be completed and delivered on a staggered basis starting Q4 2016 till Q2 2017. (Yes, my neighbour’s son owns a unit). SP Setia said that due to this completion, there would be some recognition of profits from Phase 1. This will however be reinvested into the development of Phase 2 and Phase 3 which are expected to be completed in 2020. Thus, any fluctuation in pound sterling is okay as profits remain invested in the project for the longer term. Happy thinking and investing.

written on 30 June 2016

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SP Setia: CEO (Khor), COO (Wong) and CFO (Choy)

First, I have zero number of shares for S P Setia. I own shares in a few developers but not S P Setia. I also do not currently own any S P Setia properties and is in no plans to buy anything by them within 2016. Some recent target prices for the stock as attached. However, I think I should write this article to at least give credits to the team which is still working hard to ensure S P Setia is still able to deliver respectable results. (Yes, this team includes my friend who’s still working in S P Setia Penang office too.) Everyone on the street seems to believe that S P Setia is no longer the brand it used to be.

Well, as at end of financial year 2015, S P Setia achieved RM4.32 billion and this number is still the highest in the property industry. Please let me know if there are bigger ones. I will correct this. As per reported in a few local medias, S P Setia Bhd’s board of directors has confirmed Datuk Khor Chap Jen as its president and chief executive officer, Datuk Wong Tuck Wai as its deputy president and chief operating officer and Choy Kah Yew as its chief financial officer. All three appointments are valid from 1st April2016.

The new CEO, Khor was previously assuming the role of acting president and CEO on Jan 1, 2015, has been lending his expertise to the Group since 1995. Under his leadership, SP Setia also won a few awards including the prestigious FIABCI Malaysia Property Awards 2015 (I was at this event too and here’s the write up:
‘OSCAR’ night for developers, the FIABCI Malaysia Property Awards
),  South East Asia Property Awards 2015 (I was at this event too and here’s the write up:
SP Setia wins Malaysian developer of the year: SEAPA 2015

and Best Employer Award by Aon Hewitt.

The new COO, Won has been with the group for 40 years and he was helping Khor as the acting deputy president & COO previously. The article said that Wong provided valuable advice and strategic directions in ensuring the continuous and smooth operation of the business despite challenging market conditions. This resulted in various projects achieving their objectives of completion and delivery. The new CFO, Choy joined S P Setia in April 2014 as the head of corporate affairs and was subsequently appointed acting CFO on June 16, 2014. He 24 years working experience in finance and investment banking.

S P Setia’s Battersea is still continuing and I think the times are getting tougher for London property market. As a Malaysian, I do hope that the project would be successfully delivered. The reason is simple, I would like to drop by the park for a stroll.. Read here:
Public Park in Battersea London, let’s take a stroll

As for all it’s other overseas ventures or even those within Malaysia, I think I am still confident enough to buy it if there are developments which are within my expectations. After much uncertainty, I wish S P Setia all the best with these new captains at the helm.

written on 4 Apr 2016

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Property market “moving sideways” but launching RM4.05b of GDV in H2 2018

Do you know that you can buy S P Setia for RM2.80 today? Not the whole company yeah but one tiny part of it. I meant 1 unit of their stock in Bursa Malaysia. The potential return is pretty okay, if the analysts are right. According to the average target price by analysts for SPSetia, it is RM3.75 which actually representing a potential upside of 33 percent and if it does rise to the price target within the next 12 months, then one would have a return of 33 percent per annum! Please do not take this as a buy or sell recommendation yeah. Personally, I do not own any SP Setia stock currently.
Here’s that price target from different analysts for your reference.
 Anyway, S P Setia is planning to launch new projects with an estimated gross development value (GDV) of RM4.05 billion in the second half of the year (2H18).
That full article about their launch is in Edgeprop.my here.

S P Setia President and chief executive officer Datuk Khor Chap Jen said that the group has launched RM2 billion worth of properties in H1 2018 and it will now focus on launches in the Klang Valley, with planned projects in Setia Alam, Setia Ecohill, Setia Ecohill 2, Setia Eco Templer, Setia Eco Glades, Setia Sky Seputeh (Tower B), Temasya Glenmarie, Setia Alamsari and Setia Alaman, all with a combined GDV of RM2.23 billion. It has one project in mainland Penang called Setia Fontaines to be launched by 2nd 2018. He shared, “The new project will kickstart with the launching of shops and some linked detached units with a selling price of less than RM400,000 per unit.”  His view about the property market is that the local property market appeared to be “moving sideways” but there’s a robust underlying demand for landed units. Thus, he property developer would emphasise smaller built-up landed units as they are well received by property buyers amid the cautious market sentiments and stringent bank lending.
Full financial result from S P Setia for download here.

S P Setia’s target for 2018 is RM5 billion of sales. Khor said that S P Setia’s smaller built-up landed units termed the “Starter Home” series had proven to be successful, as its flagship township Setia Alam topped local sales. (I know this because my friend failed to get a unit…) He shared, “The interest in the Starter Home series remained strong, as they were within the affordability range of most first-time homebuyers seeking landed homes in established townships.” On an overall basis, the group has total unbilled sales of RM8.12 billion, anchored by 46 ongoing projects and the remaining land bank of 9,587 acres (3,880ha) with a GDV of RM155.94 billion as at June 30, 2018. He said that abolishment of the goods and services tax did not result in a surge in property demand. The buyers were still waiting for the government’s proposed housing policies. Earlier article here:
Housing 2.0 in Sept 2019

Results wise, in the second quarter ended June 30, 2018, S P Setia recorded a 77% year-on-year increase in net profit to RM442.74 million from RM250.57 million. This includes a RM343.8 million one-off provisional fair value gain. Revenue rose to RM925.97 million in the second quarter from RM866.35 million a year ago. On a 6 months cumulative basis, net profit climbed to RM504.23 million from RM362.68 million a year earlier with a lower revenue of RM1.58 billion versus RM1.89 billion previously. Do read here:
News article from Edgeprop.my here.
 Happy following!

written on 24 Aug 2018

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S P Setia may win in a bidding ‘war’ in Singapore

Thinking about property investment in Singapore? Foreigners can buy in Sentosa island and prices for some do appear more attractive compared to the booming times just a few years ago. An image from propertyguru.com.sg showing some listings from Sentosa Cove. Perhaps not for most of us but for the ultra-high net-worth individuals, it may be. Property prices in
 Singapore has been inching downwards.

Many industry stakeholders have been directly and indirectly urging the Singaporean government to ease some of the cooling measure. In fact, it has recently eased the cooling measures very slightly. Article here:
Singapore has started easing cooling measures

Unemployment rate in Singapore has inched up as well. It’s now at 2.2 percent in Q4 2016 from 2.1 percent the previous two quarters. Please note that this is definitely still a very healthy number compared to the world. As for the property market movements, it remains very positive as per the latest bidding for a land parcel at Toh Tuck Road, Singapore.

image from propertyguru.com.sg

The article in StraitsTimes here.
 That piece of land received a record 24 bids which was the highest for a non-landed government land sale site. The tender has closed on 11 April 2017 and the top bidder is SP Setia International from Malaysia. (Yes, we are top) The bid is SGD265 million (RM833 million). This is for a piece of land which is 18,721 sqm (4.62acre) which may be used to build up to 324 private homes. (Sometimes you do wonder if the economy is really not doing well, right?) The top bid translates into a price per sq of SGD939 (RM2,953). (Well, when we look at the price per sq ft, it’s certainly comparable to some land deals within the
prime areas in KL.
)  The top bid price was however unexpected as analysts were only expecting between SGD600 to SGD700 per sq ft. In other words, it’s over 50 percent higher than the lower range estimates! The report also said that the last residential site to be launched in the area was in Jalan Jurong Kechil in 2012. This was the The Hilford which is a 60-year leasehold development.

From this bidding war, it’s quite certain that the confidence level of developers for residential developments within Singapore is still very high. In fact,
any piece of land which is considered prime

will always be attractive because the demand will always be high. Many upgraders who has made it would want to be staying in more convenient places instead of at the far end and having to take the public transportation for over an hour just to reach the office. Even if they are driving, they would want a more centralised location too. The same situation is applicable to the prime or hotspots here in the Klang Valley too. That’s the reason why I think prices are well supported by many of hotspot supporters, including many of my friends and even my ex-CTO too. 🙂  Happy buying.

written on 14 April 2017

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SP Setia, latest result at 19.97 percent gross profit

I just wrote about Eco World yesterday.Read here:
Eco World and its RM8.7 billion Bukit Bintang City Centre (BBCC)

Thus, I must also write one on SP Setia Bhd. Reported in a few medias, it has just released it’s latest results. Pre-tax profit for 12 month period ended Oct 31 2015 is up from RM722.44 million a year ago to current RM1.12 billion. (Yes, for some developers, even the total sales revenue is less than RM1 billion but SP Setia’s profits alone is more than RM1 billion). Total revenue for the same period jumped to RM5.61 billion from RM3.81 billion previously. This gave it a gross profit margin of 19.97 percent. Another pretty decent number since the whole of 2015 is a period many developers and agents would want to forget.

Via a statement, SP Setia Bhd said that the better performance for revenue and profit was because of profit recognition from the development of its strong sales pipeline. Local projects contributing 64 per cent to total sales. It also handed over Fulton Lane project in Australia. In terms of it’s target of RM4 billion sales by end December 2015, its acting President and Chief Executive Officer, Datuk Khor Chap Jen said they are confident to achieve it. Besides this, it has a strong unbilled sales of RM9.5 billion. This should be a good buffer against the current slowdown in many projects currently. As at Oct 31, 2015, SP Setia has 27 ongoing projects. Total undeveloped landbank remaining is 1,592.84 hectares and an estimated gross development value of RM69.07 billion.

To be direct, I do not think SP Setia is on the way down as many in the industry are saying since so many of its staffs are now in Eco World. I always think that as long as all the existing projects are managed well, it would be fine for many more years to come. As for the dynamism etc, if one truly believe Eco World is better, by all means buy their projects and buy their stocks. As of now, I do not own any shares in both companies and has yet to buy any property from both companies. Yes, I know many people in both the companies and they are definitely doing well in what they are doing currently. Happy evaluating and buying, whichever developments you believe is better.

written on 12 Dec 2015

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SP Setia: Launching RM4.7 billion GDV for 2016. Nice.

I would not say all developers are pessimistic because there’s one looking to launch RM4.7 billion gross development value worth of properties in 2016. This figure is for a total of 13 new launches. The developer is SP Setia Bhd and the projects include international ones such as the Melbourne-based low-rise apartments “Carnegie” (GDV of RM91 million) and Vietnam-based township, “Eco Xuan” (GDV of RM3 million). Besides these, it will be launching another 8,200 units of landed and strata properties. It’s good to see a few of these largest developers all confidently launching new projects amidst current
negative sentiment.

Its president and chief executive officer, Datuk Khor Chap Jen said, “Out of the 13, we have already launched two this year and those are the three-storey terrace houses and three-storey linked semi-detached homes in Setia Alam with GDV of RM128 million.” This new President and CEO says far fewer words than the previous CEO but to me, as long as SP Setia continues to do a good job, that’s fine with me.
SP Setia announced its top management members just recently.

It launched phase one of
Setia Eco Templer
 in Selayang (GDV of RM269 million) just last weekend. From online reports thus far, it went extremely well. Some buyers were reported to have camped overnight just to get the unit they wanted. As of 31st December 2015, SP Setia has a total ongoing GDV of RM70.6 billion from 27 ongoing projects. It has a total of 3,907 acres of undeveloped land bank remaining. Khor also expressed his optimism that SP Setia will hit its RM4 billion target for 2016.
(Eco World has also announced a RM4 billion target for 2016)

Yes, of course when SP Setia is mentioned, Eco World would come into the picture even if both are now considered competitors. May both continue to attract lots of attention. Happy following.

written on 22 May 2016

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SP Setia’s FY18? Launching RM7 billion and hitting RM5 billion sales. Where?

For the property market, is 2018 start to become brighter or dimmer when compared to 2017? If we are to ask SP Setia Bhd, it looks bright. In its
announcement featured in TheStar article,
 it says that it will launch RM7.07bil in projects for FY18. It has also set a sales target of RM5bil, of which 80% is expected to come from local projects. It is also saying that the focus is to
leverage on the Group’s established townships and roll out more mid-priced landed properties where the demand for these staple products have proven to be strong. There would be limited launches on high rise properties for Malaysia. Internationally, it will be launching the RM1.14bil – GDV UNO Melbourne in the central business district of Melbourne and the RM1.45bil-GDV Daintree Residence in Singapore. Results wise, it posted a lower earning of RM932.86mil versus RM955.82mil last year. Revenue has dropped by 21% to RM4.52bil from RM5.71bil a year earlier.

SP Setia said that moving forward, it has positive expectations because of unbilled sales pipeline of RM7.72 billion as well as effective remaining land banks of 9,605 acres and a GDV of RM128.37 billion as at Dec 31 2017. With acquisition of I&P, the group would have an additional 4,276 acres in prime locations. The article concluded with this statement. “Most are synergistically located within the growth areas of Klang Valley and Johor Bahru, where the “Setia” brand has established a stronghold. This will entrench the Group’s position as the leading township developer in Malaysia and propel the Group to greater heights.” The group also declared an interim dividend of 11.50 sen a share, which brings total dividend for the year to 15.50 sen a share.
Here’s that full article for reference again.

When we look at a longer term, it does seem that this may be a stock to buy and hold. According to i3investor.com, the target prices from most of the banks would indicate that there’s an upside potential of over 23 percent from its current closing price of RM3.22 / unit. Look at the image as reference. The beauty about investment is this. If we love the properties that they are selling, like my friend who bought in Setia Alam, we can buy one for own stay. Note that they are pushing for landed ones currently and these are not the best for rental type of investments. If we do not have enough money to buy some of their properties, we can choose to buy the stock of the company itself. This will still allow us to enjoy some potential capital appreciation because if they are showing good results even in a slow market, then perhaps their results in a good market would be better. Note, with stocks, it’s always based on expectations and there’s no such thing as historical performance okay. Buy with our eyes wide open and well, it’s a calculated risk. Happy getting involved with SP Setia, somehow. Nope, as at today, I do not own a SP Setia property or its stock. Cheers.

written on 5 March 2018

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SP Setia venturing into mainland Penang; first development

How many Penangite readers of kopiandproperty.com would like to say they will be selling their island home and moving to mainland Penang instead? At this moment, I do not believe so yet, probably it is still developing while island is already mature with everything everyone needs, especially all of Penang’s biggest malls.Unfortunately, mainland does not have any huge malls except for the recently opened
Penang’s Design Village (Outlet Mall) opens for you
.
Connections wise, actually there are now two major connections,minus the ferry which is considered secondary these days. So, when would mainland be as highly priced as island? Let’s discuss that in a few years time. For those who has moved there, feel free to share yeah. My good friend shared this:
Butterworth property is Better Worth

Seriously, I think mainland Penang is growing in terms of popularity. Not necessarily by all Penangites but the interest is definitely growing. Many big brands area already developing and another one just bought a huge piece of land there. SP Setia will be buying a 677.78 ha freehold land in North Seberang Perai from Boustead Plantations Bhd. It will pay RM620.1 million in cash and report in TheStar here:
Boustead stands to gain RM527.3 million from this sale.
 SP Setia said that it will be developing an eco-themed township with an estimated gross development value of RM9.6 billion over a period of 15 – 20 years. Based on the price paid, the land cost vs GDP is only 6.46 percent. Yes, considered low but then again this is a huge piece of land and not many developers would have been able to buy it alone.

This is another view.
Challenging 2015 but more affordable offerings and rise of mainland
.
If I am still working in Penang today, it would be my choice to sell my condo in Sungai Ara (yes, appreciated from when I bought it in 2007) and move to either Balik Pulau or mainland. Balik Pulau is because my wife used to work nearby Batu Maung and thus, it would take her nothing more than half an hour to reach the office. Mainland is because there are some
gated and guarded choices
and prices remain affordable when compared to mainland. Plus, it would take just 20 minutes to cross the second bridge anyway for my wife. Happy following SP Setia’s first mainland development. I am personally interested to know more too.

written on 22 Dec 2016

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Mid-Priced landed properties in Klang Valley and Johor – RM600k to RM800k

What is mid-priced property to you? Well, mid-priced property to me is between RM500k to RM650k. The reason is because the typical mortgage per month for a RM650k property is close to RM3,000. This is based on a 30-year repayment period. I assume we are 35 when we are able to buy a RM650k property, paying 10 percent downpayment. For a family with a household income of RM10,000 (both working professionals), this is about just right. They still needed to pay for their cars and other stuffs besides just housing. A calculation extracted from CIMB Bank attached in the image for your reference. Well, that’s me. According to SP Setia, their mid-priced landed properties are those priced from RM600,000 to RM800,000. These would be what they will be launching in both the Klang Valley and Johor. The full article in
thestar here
.

According to SP Setia Bhd’s President and chief executive officer Datuk Khor Chap Jen, the group is cautious due to a challenging property market but said that some project launches which was delayed last year would be launched in 2017. It has an unbilled sales of RM8.25 billion and total undeveloped landbank of 5,218 acres. It has hit a total sales of RM3.82 billion for FY16 which is above its revised sales target of RM3.5 billion. Khor said it is bullish on Australia, followed by London due to renewed interest from buyers. He added this interesting point as well. “We will possibly look at Singapore as we think the government will relook the tightening measures.” I have just posted an article recently quoting South East Asia’s largest developer saying that the cooling measures in Singapore should last for at least one more year. Read it here:
Cooling measures in SG? One more year at least says Capitaland Ltd

If you believe what most people believe, that landed property is always a safe buy, then I think it’s time to look deeper into some of these landed property launches. As for those intending to buy for stay, then a faster way would be the secondary market. Typically, these offer good value too but don’t think too much of those popular hotspots. For these hotspots, as soon as there is an owner selling at below the market, someone would have snapped it up faster than you. Haha. My ex-CTO told me that he will not buy currently but if the prices drop 10 percent where he was staying, he would get one more unit. If it drops 15 percent, he would buy a few units. In other words, for these places it’s virtually impossible to get a unit way below market price. As for buying FURTHER away, do be reminded that you will have to stay there. If lifestyle came comes easy, then it is a great buy.
Please do not buy first and decide later.
 It’s not a wise decision. Happy buying mid-priced properties, landed ones.

written on 24 Feb 2017

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SP Setia Semenyih affordable apartment

Yes, I am personally against any property speaker who is telling everyone that they better buy quickly because there’s no more affordable homes in the market. I am also against some reports which says that
one entire generation would be homeless
 because of property prices which are too high. Seriously, do these people actually search and filter all those property portals at all? Or are they speaking only on primary properties? Well, even on this account, they are wrong. Haha. Okay, read on for something affordable.

RM262,000 for a 860 sq ft apartment with TWO parking bays each and three bedrooms, would you buy? Plus, this is by SP Setia. Suddenly you are closing this article and bring to google for more news and where to buy? Haha. Okay, the location is in Semenyih which is not exactly nearby KL city centre. Google map image shown. This is D’Camellia affordable apartment in the Setia EcoHill township in Semenyih, Selangor. The launch would be in its Setia EcoHill Welcome Centre.

The launch is only for tower one comprising 317 units with tower two housing the remaining units out of a total of 635 units. They are both 18-storeys in height.
Facilities are impressive
 for an apartment, actually. They include landscaping, an Olympic length swimming pool, playground, gymnasium, badminton court, multipurpose hall and is a gated and guarded development. Their targeted buyers include first time homebuyers, young couples, fresh graduates and parents buying property for their children as investments. It’s expected to be completed by 2019. Yes, you can now google for more information online. Cheers.

written on 2 Oct 2016

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SP Setia in Relau, Penang. 50% sold before official launch.

Yes, as usual some of my friends said that SP Setia is doomed since many of its top management has moved to Eco World. Let me share this piece of news with some of them. Sky Vista, a new project on Penang island by SP Setia has sold half of all its units before its official launch. It’s new northern region general manager, Ng Han Seong said that the response has been encouraging. Half of the total 426 units have been sold. Of course one major reason would also be its price. It;s starting from RM552,000 each. The project consists of two blocks with a linkage between both of them via a sky-bridge. If you think this price may mean it being just a very standard condo, well SP Setia said that this project is ‘upscale yet affordable’. I can see some of my friends now claiming that this project was planned way before the team left. No comments, we shall see what happens in a few more years then.

Before everyone thinks they should now rush for the remaining half, do get to know a bit about the project first. The project is inside Relau and you can either go to the project via the Relau side; through a small road or from the Sungai Ara towards the Relau road. For own stay, I think this is considered a good area because I have stayed in Relau for 4 years and Sungai Ara for 6 years. So yes I am very qualified to tell you about either Sungai Ara or Relau and I am definitely not the usual and typical Penangite who would always see Relau or Sungai Ara as secondary compared to their usual Gelugor, Greenland and Jelutong. Don’t believe me? Just look at the price per sf and you may see that difference.

Of course, when we talk about Relau, the jams have been increasing with so many projects completed including but not limited to The Golden Triangle and Fiera Vista. Both projects are less than 10 minutes away from the Sky Vista. There are also over one thousand more units coming up too within the area by GSD. So, the possibility remain ok because the this project is not going to be the final project in the area. Potential for capital appreciation is still there though please do not take this as your main consideration to buy. For own stay, sure. For investment, it depends. 🙂   One point to note is that Penang is still an ISLAND. If you intend to stay there for a long time, choose one you can afford easily and buy it. Unless Penang’s growth stops, the prices will never stop growing. Do not look far, just look at all the island states like Singapore, Hong Kong or even Taiwan. Yes, all three of them are many years ahead. Do you understand now? Yes. We buy because Penang is still years behind. We should not buy when Penang is years ahead….  Happy deciding.

written on 18 Feb 2015

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SP Setia wins Malaysian Developer of the year: SEAPA 2015

Yesterday, I was at JW Marriot Hotel Kuala Lumpur for the South East Asia Property Awards (Malaysia) 2015 gala dinner. It was attended by more than 300 influential industry leaders, VIPs and top real estate professionals. The biggest award of the night; Best Developer went to SP Setia which also won numerous other awards such as Best Green Development for KL Eco City and Best Luxury Condo Development (Central Malaysia) for Vogue Suites 1 at KL Eco City, and two Highly Commended in the development and design sections. In fact according to them, 2015 has been a successful year thus far and they are on track to achieve its sales targets. The grand finals would be held in The Shangri-La Hotel in Singapore on Wednesday, 21 October. Please refer to the full list of all winners below.

DEVELOPER

Best Developer Winner
: S P Setia Berhad

Highly Commended: Sime Darby, Mah Sing, Dynasty Group (Subsidiary of UM Land Berhad)

Special Recognition in CSR Winner: Sime Darby Berhad

Highly Commended: Dynasty View Sdn Bhd (Subsidiary of UM Land Berhad)

Best Green Development Winner
: KL Eco City Sdn Bhd (Subsidiary of S P Setia Berhad Group)

Highly Commended: Dynasty View Sdn Bhd (Subsidiary of UM Land Berhad)

BEST OF THE BEST

Best Commercial Development (Malaysia) Winner
: WOLO Bukit Bintang by Mammoth Empire

Best Housing Development (Malaysia) Winner
: Senibong Cove by Front Concept Sdn Bhd.

Best Condo Development (Malaysia) Winner
: Astaka @ Bukit Senyum by Astaka Padu Sdn Bhd

DEVELOPMENT

Best Luxury Condo Development (North Malaysia) Winner
: Ferringhi Residence by Mah Sing Group Berhad

Highly Commended: Tropicana Bay Residence by Tropicana Ivory Sdn. Bhd

Best Mid-Range Condo Development (North Malaysia) Winner
: The Arena by Golden Virtue Capital Sdn Bhd

Highly Commended: The Latitude by Ivory Properties Group Berhad (Highly Recommend)

Best Housing Development (North & Central Malaysia) Winner
: One Residence by Ideal Property Development Sdn Bhd

Highly Commended: Sierra 6 @ 16 Sierra by IOI Properties, The Terresse by IOI Properties

Best Luxury Condo Development (Central Malaysia) Winner
: Vogue Suites 1 – KL Eco City Sdn Bhd (Subsidiary of S P Setia Berhad Group)

Highly Commended: Mirage by the Lake by OSK Property Holdings Berhad

Best Mid-Range Condo Development (Central Malaysia) Winner
: Vina Versatile Homes @ Cheras by Mitraland

Highly Commended: H2O@Ara Damansara by Epoch Property Sdn Bhd, The Véo, Kuala Lumpur by Sime Darby Property Berhad

Best Luxury Condo Development (South & East Malaysia) Winner
: Astaka @ Bukit Senyum by Astaka Padu Sdn Bhd

Highly Commended: SilverScape @ Hatten City by Hatten Group Sdn Bhd, The Republic by Elica Sdn Bhd

Best Luxury Housing Development (South & East Malaysia)

Winner (South): Senibong Cove by Front Concept Sdn Bhd

Winner (East): Foresta Precinct by SP Setia Berhad

Highly Commended: Taman Rimba Phase 3 by Wilakaya Sdn Bhd (Wah Mie Group)

Best Mid-range Housing Development (South Malaysia) Winner
: Foresta Precinct by SP Setia Berhad

Best Commercial Development Winner
: WOLO Bukit Bintang by Mammoth Empire

Highly Commended: Capital City by Capital City Property Sdn Bhd

DESIGN

Best Residential Architectural Design Winner
: Vogue Suites 1 – KL Eco City Sdn Bhd (Subsidiary of SP Setia Berhad Group)

Highly Commended: Astaka @ Bukit Senyum by Astaka Padu Sdn Bhd, Mirage by the Lake by OSK Property Holdings Berhad, Senibong Cove by Front Concept Sdn Bhd

Best Commercial Architectural Design Winner
: WOLO Bukit Bintang by Mammoth Empire

Highly Commended: Atria by OSK Property Holdings Berhad

Best Landscape Architectural Design Winner
: Senibong Cove by Front Concept Sdn Bhd

Highly Commended: Mirage by the Lake by OSK Property Holdings Berhad,  Setia Sky Residences by Exceljade Sdn Bhd (Subsidiary of S P Setia Bhd Group)

Best Residential Interior Design Winner
: Senibong Cove by Front Concept Sdn Bhd

Highly Commended: Setia Sky Residences by Exceljade Sdn Bhd (Subsidiary of S P Setia Bhd Group), Mirage by the Lake by OSK Property Holdings Berhad

Best Hotel Interior Design Winner
: WOLO Bukit Bintang by Mammoth Empire

PUBLISHER’S CHOICE Real Estate Personality of the Year

Dato’ Colin Tan June Teng Group Managing Director, Hatten Group of Companies

Yes, perhaps it’s time to visit some of these award winning developments. I have personally visited a few of them and I must say they do adhere to very high standards. Would these awards push up the property prices of these developments? Perhaps not directly but if I do own an award winning project, it would be in my best interest to brag about it to all my friends. True? Enjoy searching for your personal best choice development. Perhaps our requirements may be even more stricter.

written on 27 Aug 2015

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SP Setia’s Cenderawasih – Rumah Selangorku – Registration starts

LATEST UPDATE received just few minutes ago. The event will proceed as planned. SMS as per image. If needed, call the number stated for more information.  Cheers.

LATEST UPDATE: The Event is Postponed.  Message:  Setia Eco Templer’s Launching and Registration ceremony for Rumah Selangorku has been postponed to a later date to be informed. For more information, please call: 03 – 60922288

It’s unproductive to keep talking about affordability if we do not take some steps to get a roof over our heads. It can be new launches or even the primary ones. There’s a new launch this coming weekend. Rumah Selangorku projects are affordable ones and they are priced between RM42,000 and RM250,000.I think this is an event which is a must go for those who qualify for Rumah Selangorku. Yes, the highest priced homes offered under this scheme is only RM250,000 per unit. The qualification in terms of income is lesser than RM10,000. For more information, visit the official
state government website here.
 There is now an opportunity to apply for an apartment unit which will be built by SP Setia. It’s called Apartment Cenderawasih.Googlemap attached.

It’s within
Setia Eco Temper.

Concept wise, it’s hard not to like it if one has an inclination towards greenery and nature. There are nine creeks within the whole development. For families with kids, it’s possible to just bring them to all these creeks and enjoy the water and the environment. Take a look at its concept here:
SetiaEcoTemper- Concept
There are some agendas included in the invite sent to me. The Menteri Besar is also expected to be there to officiate the event. It’s a good sign. Yes, there’s even a free lunch at the end of the opening ceremony. This is its official launching title: Rumah Selangorku (Pangsapuri Cenderawasih). The event is on 4th March, 8am and the venue is SP Setia’s sales office for Eco Templer. Happy visiting to know more. Registration is free. Call here for more information: 603 – 6092 2288.

written on 27 Feb 2017

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Financial news: When space becomes premium and money becomes smaller

Financial news: When space becomes a premium and money becomes smaller

Logical Fact when it comes to property and money

People say property is becoming expensive. People say money is becoming smaller. When we put these two into the same equation and we want to balance it, then it’s either property needs to adjust itself or money has to adjust itself.  Unfortunately, salary is mostly fixed. So property has to adjust itself.

So, instead of forcing 3 person to rent a whole unit of 1,000 sq ft and paying RM700 each, then owner may have to sub-divide the unit into 6 rooms and rent to 6 persons instead and each person would pay just RM350 each. Size vs Money will always be a relevant learning for everyone and we do not need to look too far. Just look at the price of a small room in some expensive cities nearby Malaysia and you would know why kopiandproperty.com would advocate owning own place versus renting a space.

Kids do love their small play house

My daughter is 10. My son is 8. Occasionally, they still like to watch tv from their small little play house which is in the living room and has been with them for the past few years. It used to be spacious enough when both were smaller. Today, it’s really small and sometimes both of them could be inside at the same time still. I understand that they may like the tiny house because they have been playing with it for many years and they have left so many of their favourite toys, books, pillows inside.

However, when I looked at an article in says.com, I really do wonder why some people are okay with a small living space. It’s not for 10 minutes to watch TV. It’s for stay. It’s for living. It’s for every single day until one moves out. The space could be as small as a typical 10 ft height space being divided into top and bottom and each side having probably 5 ft height each? It could be as small as a space enough only for a single mattress of 3ft or so?

Here’s that article and some photos for reference.

Article in says.com
  Some photos in the article. Please read the full article as it has a lot more details, stories and photos too.
Article in says.com

— end of photos from the
Article in says.com

Why do people still want to rent these small sized living area then?

Well, even if there are cheaper units maybe 10km away, those places may require the person to wake up at 5:30am every working day just to arrive in the office on time. Hardly something people like; duration of travelling time due to traffic jams. Thus, if there is a small space for rental and they could actually just wake up at 8am and still be on time to work at 830am, of course they are interested.

Are there a lot of this group of people who hates travelling and prefers to stay nearby the office or the university or to whereever they would like to go? The answer is a firm yes. Meanwhile are there a lot of properties nearby some of these hotspots? Like many office towers, like nearby a big university or even close to a LRT station which is just within few minutes of walking?Briefly, the answer is that there are limited units.

So, we come to the question of demand versus supply and the owner versus the tenant. When demand is a lot and the supply within the surrounding areas are below the number demanded, then the prices would start to go up because the owners realised that they could rent out their units almost as soon as the current one moves out! Meanwhile the owners of these limited number of units are usually just common people and not some rich and charitable people who is willing to rent out their units dirt cheap just to help others. Come on… the home owners were investing. They should not be forced to rent low and then the one suffering is them and not the tenants yeah.

I used to stay in such rooms too

Once a upon a time, I studied in Subang Jaya and stayed in SS13. My landlord converted the back of the house into many new rooms and my two friends and I rented one of those rooms. The room had just enough space for a small bathroom within the unit, three small tables and three beds of which one is a double decker and the other is a single bed. There’s barely space to walk but we managed just fine. It was RM350 per person per month then. Rough estimation is that the room is maybe 300 sq ft. We survived…

It’s going to be even more common in the future

Many would say the only reason they are in this problem is because of the inadequacy of the public transport. I do not want to deny this but I think the main reason is just acceptance that the price to pay to be close to places we want to be is the size. It’s either bigger size unit and further away and losing a few hours everyday because of jams or just enough size, priced high but still affordable to the tenant. Happy deciding.

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Press Release: Space: The Final Frontier Pushing The Boundaries Of Green And Spacious City Living

IJM Land reiterates the simple pleasures of having the freedom to live, work, and play at Sierra Hijauan

The trade-off of living in affluent cities is often the high premium of acquiring living spaces. Urbanites residing in high-rise residences face the challenge of creating attractive homes within limited spaces while staying close to familiar amenities. However, Sierra Hijauan residents don’t have to worry about this predicament. The link villas, semi-detached homes, and bungalows here offer privacy and cosiness. The generous spaces and informal living areas allow homeowners to design their interiors with an intuitive and uncluttered feel.

Nestled in a valley at the foothills of the Hulu Gombak and Ampang Forest Reserve, Sierra Hijauan is only 15km away from the Kuala Lumpur City Centre.  It is a low-density development with just 310 units within its 32.77-acre land size. This exclusive project is highly sought-after due to the scarcity of new landed, gated, and guarded projects in the coveted Ampang area.

Sierra Hijauan embodies its location and name. “Sierra” refers to a range of mountains in Spanish, while “Hijauan” is a delightful play on the Malay word for “green.” Together, Sierra Hijauan symbolises the lush hilly surroundings and the integration of contemporary homes within nature’s calming embrace.

One of the intangible luxuries offered here is that residents don’t feel like they are living in the city when they are home. IJM Land aims to intuitively fulfil this modern aspiration with a nuanced approach.

HOMEWARD BOUND

For citybound business owners, executives, and professionals, the fine line between work and home has overlapped, with more time spent in the comfort of their own space rather than the office. Sierra Hijauan offers a serene retreat where residents can embrace a rewarding hybrid routine of working from home

At Sierra Hijauan, residents are greeted by a cooling perennial fog and rain-caressed mornings, while the evenings come alive with a symphony of flora and fauna. These charming consistencies become an integral part of everyday life, adding to the unique rhythm of living here.

“In life, it is empowering to be able to move and breathe at your own pace,” said Mr. Chai Kian Soon, Senior General Manager of IJM Land. “When you are unencumbered, a productive day leads to a pleasant evening and a rejuvenating morning. Achieving that becomes extremely challenging if you find yourself in a cramped and constricted living space.”

The homes at Sierra Hijauan are thoughtfully designed with sizable windows and doors, allowing residents to fully immerse themselves in the surrounding environment from their bedrooms and living rooms. The emphasis is on creating airy passageways and a breezy resort-style ambience. Every detail is carefully considered to ensure that even enclosed areas feel open and inviting, whether for work or relaxation.

“At Sierra Hijauan, the difference is palatable once you’ve entered through our gated compound. It becomes a highly desirable place to rejuvenate the mind, body, and soul upon return from work, meetings, travels, commutes, and social obligations,” added Mr. Chai.

NATURE’S HAVEN

At Sierra Hjiauan, the pleasures of having one’s own garden cannot be denied, and residents here are free to cultivate a flourishing oasis within their own compound. Imagine spending weekends tending to beautiful flowers or even growing your own fruits, bringing both visual delight and a sense of fulfilment to gardeners.

But it’s not just about the internal spaces of the homes. The external environment is equally important, fostering a sense of community and neighbourly interaction. The resort-style development prioritises a well-rounded lifestyle, providing a range of recreational facilities such as a swimming pool, a meditation deck, water feature garden, yoga area, terrace garden, and a nature trail. Additionally, residents can enjoy exclusive access to the clubhouse that houses a gymnasium, as well as games and function rooms.

These exceptional amenities contribute to Sierra Hijauan’s reputation as an exemplary green gem, reflected in its high take-up rates for recently launched phases 2E and 2H, which recorded 88% and 95%, respectively, within 2 months of launch. This continued positive response solidifies IJM Land’s standing as a leading township and property developer in Malaysia.

The launch of the final two phases, 2F and 2G2, has been brought forward to Q2 of 2023. Phase 2F and 2G2 respectively offer 20 units and 17 units of semi-detached and bungalow homes. Here, it’s not just about upward mobility, but a guarantee that a fulfilling life is within reach.

“As a result, residents will consistently experience a sense of refreshment and rejuvenation, enabling them to be creative, efficient, and effective in all their endeavours,” explained Mr. Chai.  “This way of life at Sierra Hijauan is envisioned to remain unchanged for years to come.”

For more information about Sierra Hijauan, log on to:
http://www.sierrahijauan.my
.

-End-

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Space is about usability, not just availability.

More space or less space matters little if the extra space could not be used easily or at least cheaply. It will thus be the same as less space and worst still if we paid for it. For example, my friend who was moving because he said that he wanted to provide more space for his family.
With kids, landed is better. Well…

I still remember when I was young, my brother, my sister and I would run to the kids playground a few streets away to play. I was 13, brother was 8 and sister was 7. Our parents? Preparing for dinner at home. These days, every time I pass by the playground, there were hardly anybody. Perhaps it’s because the kids around the neighbourhood have all grown up? Or perhaps safety is now a concern or kids nowadays prefer tablets or smartphones instead? Hopefully not but I bring my kids to the playground every time I am home in Ipoh.

In my condo today, every 5pm till 730pm, kids are running around and some would be in swimming pools. (Main, jacuzzi and kids) It’s communal space no doubt but it’s being utilised. So many older folks are walking around the walking paths around the park. Are these facilities being used because most families with kids are now staying in high-rise units? Perhaps it’s because high-rise units are by far more affordable but offers enough SPACE that it’s comfortable? Let me share this article about a rising trend in Hong Kong too.
 South China Morning Post: Co-living the new norm for young professionals priced out of Hong Kong’s property market
 In brief, the article highlighted a trend for young professionals in Hong Kong to rent a room that comes with communal space. The reason is because it is much more affordable and everyone could still have more space compared to if they were to buy their own unit which is usually nothing more than just a micro-flat.

No, I certainly do not believe this is a trend in Malaysia anytime soon. We still have by far
more choices instead of a 170 sq ft flat okay.
 However, the underlying two things we can take note of is that space is everything about usability. It is not about who owns it or even who pays for it. Secondly, due to affordability, it is possible for people to accept communal spaces which is actually usable space without owning and paying for it by themselves. There are more articles telling us that the younger generation are no longer properties. They also show a lot of calculation that it makes more sense. I personally disagree and if true, these younger generation better be earning a lot and saving a lot because they have no assets to hedge against inflation. Every time we think abou
t
 buying that property,
 look not just at the price but also on all those space that is available that we could use. No, I am not taking about just 2 car park spaces or a small patch of grass along the side of the newer semi-detached homes. As for terraces, space will become ever more limited. Perhaps better to focus on the build up instead. As for the land space, hopefully we have access to them without the need to pay for them. Happy buying.

written on 16 Sept 2017

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Speculating or Investing? Can be both, right?

I received the usual newsletter from Public Mutual Gold the other day and there was a header banner asking if I am a speculator or am I an investor. I think everyone would like to say they are investor because speculator sounds like a negative word. By the way, I cannot safely say I am not a speculator because I still hope that I am lucky occasionally when buying shares or even a property. Let me share a story.

When I purchased my Kelana Puteri condo when I was still working in Penang, I did have a strategy.  My strategy was I believe the growth in property market for Kelana Jaya will be faster than Penang. So, it was a comparison between a property in Kelana Jaya or a property in Penang island. On all counts, including rental returns, Kelana Puteri won, so I bought it without knowing that Paradigm Mall was on its way right next to the condo. One day when I arrived to view the home, I saw Paradigm Mall and when I checked the price, it had doubled. Haha. So, I was lucky, right? Anyway, do refer to the image below.

We are more of a speculator if we have these 5 traits as follows:

I need LUCK
I want to make quick money
I focus on timing the market (Is this not one form of strategy?)
I tend to ignore the product risks (ok, this is dangerous…)
I’m impatient (well for liquid assets, sometimes people are impatient)

Source: Public Mutual newsletter

You are considered to be an investor if you have the following traits:

I need Strategy (yes, I do have this in everything I do)
I build wealth over the long term (As I am not some technopreneur, I guess it will take a long time)
I understand the products features and risks before investing (yes, this one I do read even if may not be very comprehensively done)
I invest regularly over the long term (ok, I have been a Public Mutual customer for the last 15 years I think. Until I reached Mutual Gold status a couple of years back)

Just remember that investing is not usually the starting point. Getting a good job and keep getting higher salary is the starting point. Stable income is a very good foundation to have. Stop believing everyone who tells you that everyone must start a business, ok? It does not work that way for most people. I know because I have been working for over 20 years and I own two Sdn Bhds and I have so many friends who have tried, become successful and many more who tried and failed. It’s not like reading ABC…

Once we get a good job, we could now start to save more money (don’t spend so much lah) and once we have saved enough emergency funds (I put this as min 3 months pay or safer would be 6 months), then additional money after that could be earmarked for investment. At the same time, regardless of age, level and investment exposure, always have protection over what we have. It may save us from huge unforeseen losses yeah. Again, I know because somehow I had an appendicitis ops in Singapore during a business trip. It was S$22,000 ok…?
 Here’s that KopiTalk #7 on this topic. Good watch.

Happy understanding that investment? That’s like
watching the grass grow. (earlier article here)
 Cheers.

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No speculative investments in housing market.

Housing bubble in the market?

When people ask me if there are housing bubble which is about to burst. I tell them to search for the properties in major property listing sites. If most of the properties are already in unaffordable categories, then housing bubble has indeed formed. However, transactions continue to happen and the median price continue to be affordable to M40 households then chances are there are no bubbles.

More often than not, they would challenge me and if they are my friends, I will share more. If they are not, I just tell them that everyone should read and believe what they want to believe and take appropriate actions. For example, if we believe a bubble is forming, then it’s time to sell the property and then wait to pick up great deals in the near future.

If not willing to take action, then stop lying yeah…

If one is not willing to do that, then stop trying to force others to do it yeah. I am not falling for that trick. Anyway, what I say is not so important. Let’s listen to what Bank Negara Malaysia (BNM) has to say.

Article in theedgemarkets.com
  As per Bank Negara Malaysia (BNM), despite the low interest rates domestically and globally, there are limited signs of credit-fueled speculative investments. BNM shared in its Financial Stability Review for the second half of 2021 report that the growth in owner-occupiers continued to outstrip that by household investors.

It said, “Banks have maintained prudent lending standards when financing household investors by applying lower debt service ratio (DSR) and loan to value (LTV) ratios, compared to borrowers who are owner-occupiers.”

BNM’s report also revealed that about 75% of household investors are those earning more than RM5,000 per month. Meanwhile house hold investors earning below RM5,000 per month are largely associated with house purchases in the lower and mid-priced market segments (below RM500,000).

BNM added, “Risks of a sharp correction in house prices in this market segment are generally lower, given sustained demand.”  Please read here for the full report:
Article in theedgemarkets.com

I am definitely not selling below the price I bought, sorry

The fact remains that all the potential buyers always want lower prices while all the sellers would want higher prices than the price they purchased. This will always be true. This is why property price will always be determined by demand and supply and definitely not some average number in the whole property market. Meanwhile sellers would only sell below the price they bought if they are in financial difficulties.

That includes me as well. I had wanted to sell one condo of 1,100 sq ft in Penang but my ‘desperate’ price was not accepted by potential buyers. So, after 5 years, I am still ‘desperately’ trying to sell my condo… Has the price gone down then for the last 5 years? Not my unit…

Now imagine if I had bought the unit at very high price per sq ft and now new launches are at a lower price point that mine. Of course I would be forced to sell lower if I needed the money. However, the real issue here is not the market yeah. It’s because the owner bought at too high price per sq ft! I do not think this has got anything to do with the market apart from the owner making a speculative purchase previously. Happy understanding.

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Speculators, Interest Rates and Over-Leveraging

“Prudence is a key accounting principle which makes sure that assets and income are not overstated and liabilities and expenses are not understated.” I seriously think this should be a personal principle that one should have when investing. Reason is because there are so many people who are so desperate to know if the interest rate would be raised soon, perhaps July. They sweat whenever they hear that Bank Negara will adjust the rate. Actually, even if the adjustment is fifty basis point or 0.5%, should it affect you so much if you did not over-leverage? So, this is the reason why so many people are praying that the adjustment would be as late as possible, better still, don’t come.

Bank Negara Malaysia (BNM) governor, Tan Sri Zeti Aziz gave no indication whatsoever when asked about the timing of any policy adjustment. I think that’s the best comment. In fact, she said that any adjustment would be based on the outlook for inflation, growth and risks and any other risk arising from financial imbalances that may be destabilising. At this point in time, the monetary policy is still accommodative and the current economy is on a stable trajectory and this was what BNM wanted.

A Penang friend whom I spoke to few months ago said that if interest rate is raised, it will affect many who are currently paying for their home. Then, he said, Malaysia’s current household debt for property is already so high, any increase in interest rate will make it even higher. I would not say that she is wrong but if interest rates are kept too low, be reminded that a lot of people would take more risks and this by itself is a risk to the whole property market. Just look at US in the years leading to the mortgage crisis and we can see almost a certainty that if interest rates continue to be low and everyone just buy, buy, buy, the market will crash and it will affect everyone.

Looking at demand, looking at cost, looking at the supply and looking at how the economy is progressing, the price should go up. I hate to say this but I prefer for it to be on a stable trajectory instead of a sudden huge increase. I hope everyone has the same thought and to friends who are at this moment over leveraged or very close to the ‘just enough’ to pay every month mode, I hope your prayers are answered. While the interest rate will definitely affect me, I welcome it with open arms and do not wish for it to be too low, too long. Let the market adjust itself with the policy rate adjustment.

written on 22 May 2014

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Media Release –
SPEED OF PROPTECH ADOPTION CRUCIAL FOR CLOSING PROPERTY TRANSACTIONS

MHub empowering property developers deeper towards digital transformation in COVID-19 environment

KUALA LUMPUR, 22 June 2020 – COVID-19 related shutdown or slowdowns in business activities have definitely given many property developers the push in picking up their pace of digital transformation. Before, tech adoption was seen as a matter of speed and efficiency, now it has become a matter of safety and in many cases, business survival.

MHub, the leading end-to-end property transaction platform has responded to the global pandemic by refining their suite of apps to meet the needs and challenges of the market.

“The past 5 years we’ve supported close to 500 property projects from more than 70 developers. We have set in place industry standards that bring together property developers, real estate agents, bankers, lawyers and buyers ” says Quek Wee Siong, Co-Founder & CEO of MHub.

He adds: “This online-based model has been proven effective as MHub successfully transacted 222 bookings during the first 2 weeks of the Movement Control Order. When the country was in lockdown, we launched our own ‘MCO – MHub Can Online’ which enabled developers to conduct virtual walkthroughs, online unit selections and online transactions despite the obvious limitations. The overwhelming response from developers attests to MHub being an ideal solution to an unprecedented challenge.”

Dato Soam Heng Choon (President, REHDA Malaysia) observes that COVID-19 is actually driving forward-thinking developers to embrace proptech. “ Developers who think they are just brick and mortar company need to reconsider. We need to look at proptech holistically as something that enables the property industry. How do you make the experience better? ”

He also commented on the validity of virtual signing which has been brought up by lawyers and developers. “This is something we need to dissect under the Housing Act. As the developers Association, we recommend the Ministry of housing to amend the act, part of the Act, or the regulation that enables it. I think it’s very important under the new normal.”

One such development that has received an overwhelming response from the public despite the CMCO is Starling at Bandar Rimbayu by IJM Land which was sold-out within 24 hours. During the launch of Phase 1, more than 500 homebuyers signed up for the project which consists of 125 available units priced from RM 656,800.

The pandemic has proven that now more than ever, digitization has become more crucial in our lives at the turn of the decade. To connect with a digital-centric audience and to keep both homebuyers and employees safe, Bandar Rimbayu has taken extra steps to work with MHub to digitize their consultation and engagement processes which include virtual 360 walkthroughs of the development and units, while also providing them with the digital masterplan as a reference.

Succeeding the sold out response of Starling Phase 1, Bandar Rimbayu conducted the first-ever live balloting session was streamed on their official Facebook page on 7th June 2020. From over 500 registrants, 190 lucky ones were selected for the balloting that was live-streamed to provide an unbiased and transparent process for registrants. This was then followed by an online unit selection, all done in the safety of the buyers’ homes.

“This is definitely a challenging year for everyone, but it only proves that in today’s age, our lifestyle changes rapidly due to external circumstances. As a visionary property developer, we have adapted and embraced digitization to provide our residents and homebuyers with safe and efficient solutions, including home-viewing up to finally buying a home in a desirable location which is Bandar Rimbayu,” said Mr. Chai Kian Soon, Senior General Manager of Bandar Rimbayu.

“With social distancing in place and the general public’s increasing tech adoption, more and more of our project owners in IJM Land are using MHub to complement our current sales process. We find that it’s really relevant in our new normal of digitalisation and automation. The platform has helped us adapt faster to customers’ needs” says Susan Teh, Assistant GM Sales & Marketing of IJM Land.

“ COVID-19 has been very disruptive for property developers who are used to meeting potential buyers face to face. Now, with social distancing being a way of life, how are developers going to sell? We will need digital platforms like MHub to communicate and sell online ” said Steven Ooi who has been in the property industry for 25 years.

— end of media release —

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Spending down. GDP growth slows. 2020.

One major reason why it’s important to have a positive sentiment is because people are willing to spend more of their money. Not too much but continuous moderate spending. When situation’s becoming negative, they tend to save their money instead of spending it. This is when the economy weakens and the GDP growth slows. In order to push the growth up again without support from household consumption?

The government will have to take a pro-active role. For example? Continue big infrastructure projects so that all the supporting industry to the construction industry will also grow. That’s what people call as stimulus. However, for the Malaysian government to push growth by spending more, they will need to borrow more. This will not be good for the long term yeah. Whatever borrowed has to be repaid…

Article in edgemarkets.com
   Institute of Chartered Accountants in England and Wales (ICAEW) says that it expects Malaysia’s gross domestic product (GDP) to slow from 4.4% in 2019 to 4% in 2020. (4% meant that ICAEW’s forecast is the lowest that I have read thus far)  The major reason is because the household spending is likely to slow down in 2020.

ICAEW economic advisor Sian Fenner said, “Behind this reasoning is that householding spending, which has been the key engine of growth, will actually start to moderate. It’s still going to remain quite healthy, but we’re not expecting growth at the level that we’ve been experiencing.”

With regards to monetary policies for 2020, it said, “While the US Federal Reserve signalled a pause in November, we still expect it to reduce rates once more in March 2020. Regional central banks are also set to maintain an accommodative bias in their policies.”

“This provides a window for Bank Negara Malaysia (BNM) to adjust rates lower, without excessive pressure on the ringgit. Following the recent 50bp cut in the Statutory Reserve Requirement, we expect the BNM to reduce the policy rate by 25bp in Q1, 2020, bringing the policy rate to 2.75%.”  Please do refer here for the full
Article in edgemarkets.com

Please read through all the comments and understand that the message is a positive one. At worst, a neutral one. It is not predicting a recession for example. It’s predicting a GDP growth of 4% yeah and this is as healthy as it could get under the trade war circumstances as well as the fact the world economy is also not positive. By the way, I remain a supporter for GST instead of SST. Will always be hoping that the best decision prevails for the sake of Malaysia. It does not need to be there forever. So, please remember, there are no forecasts on Malaysia slipping into recession in 2020. Lowest forecast for GDP growth is 4%. As for all the rest, please refer to earlier article here:
Prediction for GDP growth for Malaysia in 2020
  Happy buying yeah.

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Spending less this Chinese New Year?

A good friend forwarded this article to me yesterday.
“Folks to tighten their belts for CNY celebration.”
  May I ask kopiandproperty.com readers, Are you also tightening your belt for this coming CNY celebration? Did not buy new clothes, did not buy any dried meat for friends and families, did not buy any Mandarin oranges, did not intend to go out for family reunion dinner, if cook at home will also cook smaller prawns, cheaper fish and lower priced vegetables? Really?

For the year of Rat, I bought 6 new shirts / T-shirts. None are normal priced items, all are discounted ones. All are NOT for one time wearing during CNY but I will continue to wear them for work, for casual days and even when I am going to the gym. Actual spending wise, the amount was similar to many years ago when I bought fewer new shirt / T-shirts for CNY but the number has increased. Look at the world of brands today (skip the luxury ones) and one will realise that a good quality jeans are now cheaper than many years ago. RM199 for one jeans? Please drop by AEON for many discounts for many brands or drop by my favourite new branded stores like MAX or LC Waikiki. Both are available in 1 Utama.

Okay, I admit that I did buy 4 new Skechers within 2019 but all 4 had 40-50% discount and this is actually just 2 new Skechers if I had paid for them based on standard price. Right? I have started wearing 2 of them and one has accompanied me for 2 half-marathons and at least 200km of brisk walking in the gym. I think I can say it’s already value for money, right.

So, two important points for our personal finance for year of 2020 if we intend to still wear new clothes and replace old shoes. First one is to start exploring good quality but less famous new brands which has opened their stores here in Malaysia. These provide quality with affordability. If you must wear the usual brands and they do not offer much discounts, then I could not help you.

Secondly, for shoes, there are now many discounts available. For sports shoes, look for comfort instead of just the design or brand. With a good one, we could walk longer without feeling tired. In fact many of these brands such as Skechers are offering more discounts than many years ago. Maybe it realised that selling more shoes at lower margins will still be way better than selling fewer shoes with higher margins? I have no idea, just speculating. My favourite sports brand is still Puma and my favourite leather shoe brands are still Obermain and Camel but I now have more Skechers than Puma… and I have started to be open to Larrie, Hush Puppies etc if their leather shoes are priced competitively.

Conclusion is, I am spending almost the same for this year versus the last and the last and the last years…  If we count in the inflation, then hey, I am actually spending lesser! Perhaps this is also one part of tightening one’s belt. My advice? CNY is a time of celebration for family and loved ones. There is no need to overspend but do not be stingy to be grateful okay. Belt-tightening can happen ANYTIME throughout the year and does not need to be during CNY.  Happy New Year and soon will write an article on CNY too.

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Shopping malls will evolve, thus they will still do well.

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