Medini – Another huge theme park?

Everyone knows Sunway Lagoon here in Malaysia. I read somewhere that when Tan Sri Jeffrey Cheah launched his first project there, he sold it for so little just to cover it’s cost. It was really unattractive then. Something like Damansara and Mont Kiara long time ago. Actually come to think of it, not that long time back. 🙂   Sunway will be going to Medini with a world class theme park. Actually, TWO if you include the term they use which is amusement park. The other one being an ecopark.

Of course, if they are there just for these two amusement parks, they would not buy 752 ha of land. The full plan is for an education hub. They own their very own Sunway University which has close links to Monash University Malaysia campus. Others include malls, hotels, residences, offices and even hospitals. Hospitals would be great, especially for the neighbouring country as the charges are immediately cheaper. In fact, the insurance companies in Singapore recognises treatments done in Malaysian hospitals. This has been effective for quite a number of years.

While there are no confirmation whether the theme park would be their own brand or would they be talking to other notable parties, following are the famous theme parks around the world: Universal Studios (already in Singapore), Disneyland (already in Hong Kong), Knott’s Berry Farm and Six Flags Magic Mountain (United States); Dreamworld and Warner Bros Movie World (Australia); Alton Towers (United Kingdom); Port Aventura (Spain); Tivoli Gardens (Copenhagen) and Europa-Park (Germany).  There’s also the 20th Century Fox World which Genting will be building in Genting Highlands and open by 2016. This was just recently announced.

Hmm… would Malaysia be a nation of theme parks? If the number of tourists continue to increase, I think it should be okay. If all these are built for just Malaysians, I think there may be too many in the very near future. Or perhaps due to competition, the pricing is lowered? Haha….

written on 20th dec 2013

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Medini @ Iskandar – exemption and distance

This is a hot word recently. Medini has been exempted from the 30% property gains tax in Malaysia. This is an extremely important news because this meant that foreign buyers, especially from Singapore may continue to invest without having the dark cloud of 30% RPGT over their head. Medini is being developed by Medini Iskandar Malaysia which is a GLC and both Mitsui Co Ltd and United World Infrasturcture owns 20% stake each. Back in 2006 and 2007, Medini was not a preferred investment location. There were no huge population and no other activities as well. Thus, this exemption may provide the right catalysts for investments into Medini.

From the Iskandar Investment website, this is what Medini in terms of stats:

International Mixed-used Development

96 million sq.ft./2,230 acres in Nusajaya.

The maximum permitted Gross Floor area (GFA) of 182 million sq.ft.

Expected Gross Development Value(GDV) of US$20 billion over 15-20 years. 20% to be developed by 2014 with a targeted population of 50, 000

Medini is located around 50km away from Singapore CBD, via the Tuas link. Is this far? I would say in terms of property investment, it is not really normal for anyone to invest in a property 50km away if they intend to commute to and fro. There are some estimates that it is around 40-50 minutes from Singapore’s CBD. However, let’s look at some numbers. If you can spend just S$400,000 for a huge landed property in Medini, versus nothing more than just a 700sf HDB flat in Singapore, which would you spend it on? Yes, if it is your first property and you are working in Singapore, of course HDB. However, think on a longer term? Answer is yours to make.

written on 21 dec 2013.

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MEF: Opt-in moratorium should be automatic instead. Why?

MEF: Opt-in moratorium should be automatic. Why?

I am one of the few people who disagrees that moratorium should be offered to everyone, whether or not they actually needed it. I am also one of the few who agrees with the fact that banks are not a charitable organisation and they also have their own shareholders, employees and business to care for as well. Full moratorium like what we have is also not something practiced by any other countries thus far.  Please correct me if I am wrong or overlooked.

I agree however that we MUST have moratorium for the ones affected by COVID-19 lockdowns. The reason is a simple one. If we allow these people to fail financially, it will affect not just their livelihoods but also those who depend on them too. I also agree that if the COVID-19 lockdowns are going to continue, then the next round of moratorium should also come in to help those affected by it.

I hope vaccinations will reach a critical stage where everything becomes manageable again. Note that the number of infections are unlikely to fall to zero if we look at the advanced nations where vaccinations have reached 50%. Let’s now look at what the Malaysian Employers Federation (MEF) has proposed to the Ministry of Finance and Bank Negara Malaysia.

Article in thesun.my
   The Malaysian Employers Federation (MEF) President Datuk Dr Syed Hussain Syed Husman proposed to Ministry of Finance and Bank Negara Malaysia to make loan moratorium automatic instead of by application. In a statement, he said, “And that there should be no interest charges or other charges associated with it.”

He also hoped that the facilities for loan moratorium would not be disrupted during the Enhanced Movement Control Order (EMCO) period in Kuala Lumpur and Selangor. He said, “Even before companies can reach out for help on the recently announced National People’s Well-Being and Economic Recovery Package (Pemulih) programme, they are now subject to EMCO.” Do read his full statements here:
Article in thesun.my

Zero interest on the loans because… ?

Moratorium is to help businesses to survive the pandemic amidst the lockdown. Moratorium is not to only help one side and made the other side worse off.  If we compare this to the assistance given to the people, the monetary assistance is for meals and all the other basic expenses. It is not to replace the lost salary because it’s just not possible to do.

Losing one’s job also meant that one has to look for another job, pivot accordingly and not just sit at home and wait for the normal situation to return. It’s unlikely to return in a short period of time.

This is why there are no compound interest but it is highly unlikely for the banks to waive the interests because they have already granted the moratorium. Let’s also remember that if we kept pushing the banks, their next target is definitely to reduce their costs…

Let’s be pragmatic and ensure assistance is for survivability. be targeted and do more. Not be too general and sprinkle too little over the ones really needing assistance.

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Melaka for medical tourism? Let’s do it. 1.3 million people came to Malaysia for medical treatment in 2019.
Article in freemalaysiatoday.com.my here.
They spent RM1.7 billion and this is JUST the medical portion yeah.

We have yet to calculate the money they spend on accommodation for their family members who accompanied them, all other expenses when they decided to have a vacation in Malaysia after their treatment too. So, medical tourism is indeed a catalyst for economic growth and definitely the property market too. The two well known states they go to for their medical treatment is Kuala Lumpur and Penang.

Well, maybe Melaka can also muscle their way into this in the future? Here’s the plan which was announced and it will take 6 years to fully complete. Well, as long as it has started and as long as we do not have a big delay, I think 6 years is fine.

Article in nst.com.my
  Nexgram Holdings Bhd will take six years to develop its proposed medical complex in Melaka, comprising a hospital building, a hotel, a condotel, and a service shop-office home-office. Its wholly-owned unit, Nexgram Biomedic Sdn Bhd (NBSB), is buying a 10.03-hectare piece of leasehold land from Melaka State Development Corporation (PKNM) for the medical complex to be known as Melaka Lifecare Specialist, for RM61.53 million.

Nexgram said, “The acquisition represents a strategic investment for the group as the project is a public-private cooperation initiative that is in line with the Melaka government’s push to further develop Melaka’s economy in the next five to ten years. As such, the future prospect of the project is expected to be favourable.” Do read the article in full yeah:
Article in nst.com.my

Melaka needs more catalysts for foreign tourists

It is safe to say that during the times before COVID-19, we can see Singaporean registered cars easily in Melaka. Somehow a 3.5 hour drive from Singapore to Melaka will allow Singaporeans to escape their country for something different and after they have already explored Johor frequently enough. Plus the fact that the food diversity in Melaka and that of Johor are totally different too.

However, just food alone means people come and people leave quite quickly. As for other attractions, if I am a Singaporean family, I will visit the few typical attractions maybe once per year. I cannot be visiting the same thing every weekend. I think we also need to be frank with this assessment too. However medical tourism will open up a totally new market yeah. It does not need to be just Singaporeans and for medical tourism, Malaysia is definitely second to none.

Let’s push it, push it some more. All the best Melaka. I will visit you again, soon. usually 3-5 times per year. Nope, I have yet to own a place in Melaka which I could access the swimming pool. Let me think…

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Melaka for property investment? “I thought it’s just a holiday destination.”

Where are the 4 major property investment destinations in Malaysia? The Klang Valley (or Greater KL), Iskandar in Johor, Kota Kinabalu in Sabah and Penang island. If one has invested in a property, it’s most probably within these four places. When it comes to property investment, it’s always about identifying opportunities earlier than others. Else, we will then come to the statement of ‘Aiya, I should have invested earlier.’ If you ask me when was the best time to invest in a property, I would tell you it’s at least 20 years ago. 1998 would have been a perfect year for property investment. Properties were cheap and nobody was buying. That ‘best time’ has PASSED.
Today, the best time to buy a property is when we are ready to buy a property. Here’s one potential in Melaka (starts from RM233k).

Ready in terms of our financials (please do not borrow from Ah Long to buy a property), knowledge (please do not simply buy) and investment mindset (overview and long term).

Today, we talk about Melaka for property investment. Everyone
knows this is a favourite tourist destination for Malaysians and non-Malaysians.
I know because I am there at least twice a year and I am always surrounded by
foreign tourists. From our neighbouring countries to China, Japan, Korea and
even European countries, they just love historic Melaka. Looking at this number
versus the property market meant opportunities open up.

Tourism is HUGE. (lots of tourism ringgit into Melaka every year)
 For 2018 alone, it is estimated that 17.8 million
visitors will visit Melaka. Article here.

This is 18x more people than whole population of Melaka; 900,000. This meant that the demand for accommodation is growing fast. This is also one main reason why choices for accommodation becomes limited if we were to book very close to our travel period.

click image to know more

Residential oversupply in Melaka? Erm…
At a time when the whole Malaysia is worried about the unsold and completed units which is at a record high, Melaka’s oversupply numbers are very low. In fact there does not seem to be any issue at all. On a yearly basis, within the past 10 years, total unsold residential units in Melaka is only 725. Briefly, this is just 73 units per year for a state with 900,000 population. Article in MalayMail here for reference.
 TheMalayMail Online,
This is why when we are looking at buying a property, perhaps residential units at affordable price and attractive design should be a key choice. Here’s one potential.

Industrial sector remains key sector in Melaka.
Before everyone thinks Melaka is only about tourism, we should also note that within just 9 months in 2018; Jan – September, MIDA approved RM1 billion worth of investments into Melaka. The investments were into 7 sectors; medical, food, electronics, petroleum, transportation, metal manufacturing and non-metallic mineral sectors. All these will continue to create job opportunities and this will in turn drive up demand for properties too. Melaka was also said to be one of the few sites being considered for the New National Car Project too.

Multiplier effects from Melaka Gateway.
Melaka Chief Minister Adly Zahari has reiterated that the Melaka Gateway project is continuing. Based on earlier reports, this is a RM43 billion development. It consists of three man-made islands and a natural island that will include the Melaka International Cruise Terminal, developed in partnership with US-based Royal Caribbean Cruises Ltd (RCL) on its first island. Chief Executive Officer and Founder of Melaka Gateway Datuk Michelle Ong shared that the project is estimated to create between 40,000 and 45,000 jobs over 10 years. Projected economic multiplier anticipated is RM1.188 trillion for the local economy as well as drawing further local and
regional investment.” Full report here.

Accessibility is key. It’s easy to notice
Singaporean registered
cars in Melaka because there are many. Beyond just Johor which the Singaporeans
could go daily, they may prefer to drop by Melaka during the weekends too.
Melaka is also a favourite destination for working people in KL / Selangor too.
It’s one destination which fulfills everything a family wants and it’s just 1
hour and 40 minutes away. Briefly, Greater KL’s growth will continue to benefit
Melaka too.

Special and
attractions APLENTY. Melaka
is
a
UNESCO Heritage city. In other words, this is an internationally acknowledge
heritage city. Beyond the historical sights which is already famous, Melaka has
great diversity of food (which is one reason why I always get heavier every
time I visit Melaka). ENCORE Melaka has also arrived to rave reviews from
everyone who has visited this international class dazzling theatre. There are
also many theme parks in Melaka too.

Future is certain.
Melaka is one of the stops in the High Speed Rail KL – SG route. Our Prime Minister Tun Dr.Mahathir has reiterated that the HSR is merely postponed and not scrapped. With the date of completion now extended, this meant that we have more opportunities to buy and watch as the capital appreciation for the property grows with time. For everyone’s information, less than 10% of Singaporeans own a car. HSR is going to be a catalyst for the visitors from Singapore into Melaka because it’s cheaper than renting a car and drive in or wasting time waiting at the airport for flights.

click image to know more

There are a lot more reasons to visit Melaka but beyond all these attractions, we should also acknowledge that Melaka continues to be very localized and authentic. Just walk along the Jonker’s Walk in the evening and we could see that the stalls are manned by locals and not foreigners. This is unlike many other states where many if not majority of all the stalls are already manned by foreigners, even the food stalls!   It’s also cleaner than many other towns and cities and I think this is one major reason why Singaporeans love Melaka too. When we look at property investment, the growth of the city is extremely important for long term capital appreciation.  I think Melaka has that oomph worth taking a serious look.
Here’s one potential (starts from RM233k).

Happy investing.

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Melaka Gateway and RM43 Billion China investment

Last year, I read some news about Melaka Gateway and I wrote an article about it. Read here:
Melaka Gateway, stay away or buy?
  Another piece of Melaka Gateway property news appeared in a few online medias today. Perhaps Melaka Gateway is now becoming more serious. China was said to be investing US$10bil (RM43 billion or S$14 billion) and this may well help Melaka to have a seaport which is on par with more established harbours in the region. Total size of Melaka Gateway is 246ha and this include the reclamation site too. It was launched in Feb 7 2014 and last year, the project is set to become the largest private marina in South-East Asia upon completion by 2025 with 12 precincts, including residential, commercial, cultural, entertainment and lifestyle elements. Speaking of seaports, China would be the best partner to have as it already have many top seaports of the world today.

China has always been Malaysia’s top 3 largest trading partner and I think Malaysia would be a natural choice for China to expand its friendship with Malaysia and ASEAN. In fact all these continuous investments of ‘prosper thy neighbour’ is part of what China calls ‘One Belt, One Road’ vision by China’s President Xi Jinping. Oh yeah, China is also the chief architect for ASIA’s infrastructure bank. Read here:
AIIB: Great initiative and poised to ‘grow’ infrastructure ASIA

If I am the leader of any nation within ASEAN, it’s quite important to keep this relationship strong and ever deeper rooted. Let me be direct, I would choose China over the US anytime. It’s much more advantageous to use the Chinese Yuan and Malaysian Ringgit for trades between both nations and not any other currency. 🙂

I love Melaka and would drop by at least once every year. Every time I drop by, I could see new developments. Of course, the jams are also increasing in the tourist areas but there is little choice. This is pretty similar to Penang except that Penang has much more manufacturing concerns too. Read my Melaka thoughts here:
Melaka: Slow, steady and coffee

At this moment, I do not yet own anything in Melaka. We shall see in the near future. Would definitely share if I may be considering something yeah. Happy enjoying Melaka in the near future. Perhaps we can enjoy a cuppa there!

written on 8 Nov 2015

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Melaka Gateway, stay away or buy?

I just wrote about Melaka  and its
potential as the next Iskandar
 and suddenly this new announcement came about. Melaka Gateway is envisioned to have a GDV of RM40 Billion. I repeat, RM40 Billion. This is indeed a catalytic type of development which IF successful will propel Malacca to be the next most successful growth story after Iskandar. Yes, of course it’s after Iskandar. Just look at the land size, how can Melaka beat Iskandar as a region? Nevertheless, RM40 Billion would dwarf majority of any one development anywhere else in Malaysia. As a comparison, a huge project in Penang called Penang World City by Ivory is only RM10 Billion. However, I have never heard of the developer before; KAJ Development Sdn Bhd (KAJD)

If you refer to some discussions in Facebook, generally the reviews are not really that positive. I think the word ‘White Elephant’ was used many times. In fact, everyone was recommending to buy other places instead. Let me offer a few points based on my personal opinion. For a project of this size, Melaka needs to have three other ingredients, or else, this project would never ever achieve the success as what it has envisioned.

International airport. At this point in time, Melaka airport is nowhere near any of the Top 4 Airports in Malaysia namely KL, KK, Penang and JB. Without an easy access, the targeted buyers who may be from out of Malaysia will never happen. In fact this is one major reason why Penang has yet to really take off as a property destination of choice for Chinese from China or Indonesian from Indonesia. There must already be a vision and plan now on the transformation of the Melaka airport. The attraction of more flights to start flying in.

Transportation roadmap. Even today, during any public holiday, Melaka is packed and jammed with cars. A typical 50 minutes journey to Melaka from KL  may take up to 2.5 hours or more. Parking is lacking due to the sheer amount of cars inside the Melaka city. Whether a monorail, or enhancement of the bus services or the further widening and building of more roads, flyovers etc, this must be started today. Perhaps the Bullet Train between KL and Singapore should have a stop in Melaka? Rome was not built in a day and without this being planned concurrently with the Melaka Gateway, people may just stay away during holiday seasons and fly to Penang instead.

Third, development of tourism products. It’s true Melaka river is now much cleaner than before and there’s a cruise but everything has to be improved by leaps and bounds. Do not look elsewhere, just look at Singapore’s Clarke Quay. If this can be made very lively, there would be a lot of spillover effects. The houses along the Melaka River can be converted to restaurants, cafes and this would in turn ensure that the houses are well taken care off. The river cruise needs to be made much more informative; create a story. Be reminded, until today, no Lochness has ever been found in Scotland’s Lochness lake but try telling the local folks that Lochness does not exist and see if you can come out alive.

If I have deep pockets, I think I may buy the early phases of the Melaka Gateway. As long as the phases continue to happen, I should earn some decent return. However, if I am buying for the first time, Melaka Gateway may not be the best project at the moment. Something like investing in Batu Kawan because of Ikea. I had to remind my friends, IKEA will only open in 2020 if everything happens according to plan. You want to buy now? in Feb 2014? Would it be a white elephant? I do not think so but whether it would be a great success remains to be seen. Will update when there are more announcements.

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Melaka International Cruise Terminal may be back!

Remember Melaka Gateway?

This article was way back in 2015! Read here:
Melaka Gateway and RM43 Billion China investment
. Yes, kopiandproperty.com has been around since Nov 2013. 🙂  Within Melaka Gateway, there was also a component called Melaka International Cruise Terminal (MICT) which was supposed to make Melaka become a cruise destination. By the way, every ship would usually carry many thousands of passengers. This means lots of tourism revenue yeah. However… it was cancelled. Now we have a good news, somewhat.

Article in nst.com.my
 Transport Minister Anthony Loke said that transport Ministry is in discussions with the Melaka state government on the continuation of the Melaka International Cruise Terminal (MICT) which was under the Melaka Gateway project.

He said, “The ministry has received an application from the Melaka Gateway developer to revive the cruise terminal project and it is in the process of obtaining licence approval to continue the project from the ministry, especially the Melaka Port Authority.”

He added, “We have no problem supporting the continuation of this project, but we need to take into account the views of the state government, and I have instructed officials from the Port Klang Authority to contact the Melaka state government to discuss, in particular, the cruise terminal issue.”
Article in nst.com.my

My wife wants to go on a cruise

My wife told me she wants to go on a cruise. I checked just before Covid-19 arrived. The price was okay. The choices were aplenty. Recently, I checked and realised that the choices are not many, prices are high and Malaysia is really not popular for people to go on a cruise. Many times, we have to fly to Singapore to do it. That’s really a very bad experience yeah. Fly to Singapore, get on a cruise, then cruise goes back to Singapore and fly back to KL? Haha. Does not seem like a cruising experience at all.

At least there’s another hope that things will be better in the future?

I just went to Melaka and Jonker’s street is still great for me. So many to see, buy, eat and enjoy.

All the best to Melaka!

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Melaka property worth considering. 6 reasons why.

I love Melaka and I think I go to Melaka at least twice per year. If you ask me if Melaka can be a property investment destination, my answer in brief is yes. Objectively, Melaka is NOT within the
top 4 property investment destinations in Malaysia. Those 4 would be Greater KL, Penang, Johor and Kota Kinabalu. I do not have a property in Melaka but
I would love to own a place there eventually. What could we buy in Melaka then?
Here’s one potential buy. Click here.

Actually, even the landed properties are pretty affordable! However, high-rise units would be much easier to maintain, especially if we are buying the units which are focused on AirBnB. Here are 6 reasons why I think property investment in Melaka is possible.

Oversupply issue is not an issue.
At a time when the whole Malaysia is worried about the unsold and completed units which is at a record high, Melaka’s oversupply numbers are so subdued that it does not seem to be an issue at all. In an article just a few
months ago in TheMalayMail Online,
it was revealed that within the past 10 years, there were ONLY a total of 725 residential properties which were unsold. In brief, only 73 units unsold every year. This is versus the total population of 900,000 in Melaka.

Tourism is a big issue.
For 2018 alone, it is estimated that 17.8 million
visitors will visit Melaka. Article here.

This is 18x more people than whole population of Melaka; 900,000. Yes, this is one major reason why everytime I am there, I would have ever more choices when it comes to accommodation.
Potentially here’s one potential we could buy.

Yet, if I were to book very close to my holiday there, the choices become limited. Tourism remains the top focus for Melaka which meant that the number of tourists could only be increasing in the very near future.

Industrial sector is still huge.
Just in case everyone thinks Melaka is only about tourism products and services, this is what the Melaka Menteri Besar said, “The industrial and manufacturing sectors are the backbone of Melaka’s development, accounting for around 43 per cent of the state’s Gross Domestic Product over 15 years.” Now I understand why a relative of mine is still an engineer with a
MNC in Melaka today. Here’s that article for reference.
 This is not all as developments of three main ports – the Melaka Gateway Port, Tanjung Bruas Port and Kuala Linggi Port are continuing.

Multiplier effects from Melaka Gateway.
This is a RM43 billion development. It consists of three man-made islands and a natural island that will include the Melaka International Cruise Terminal, developed in partnership with US-based Royal Caribbean Cruises Ltd (RCL) on its first island. Chief Executive Officer and Founder of Melaka Gateway Datuk Michelle Ong shared that the project is estimated to create between 40,000 and 45,000 jobs over 10 years. Projected economic multiplier anticipated is RM1.188 trillion for the local economy as well as drawing further local and
regional investment.” Full report here.

Many people like Melaka.
There are many Singaporean registered cars in Melaka every time I am there. However, it is not the largest group yet. They are the Chinese and followed by Singapore, Hong Kong and Taiwan. Many KLites love to drop by Melaka because it’s just 1 hour and 40 minutes away. In other words, the growth of Greater KL is actually benefiting
Melaka as well. Report here.
 Even more people will enjoy Melaka when it becomes one stop under the High Speed Rail KL – SG. In case you did not read, this was what our
PM Tun Dr. Mahathir said yeah, Dr M reiterates KL-S’pore HSR postponed, not scrapped.”

Attractions APLENTY.
It is a UNESCO Heritage city. It has diversity of food (which is one reason why I always get heavier every time I visit Melaka) which does not even lose to that island state, seriously. The roads are well maintained and the city is cleaner than many cities and towns in Malaysia. Recently, ENCORE Melaka has opened. This is a dazzling theatre journey through history and this is part of Wang’s Impression series. It is the 10th Impression series (established in 1998 by renowned directors Zhang Yimou, Fan Yue and Wang) and the first (show series)
outside of China. Report here.

Happy investing in Melaka yeah. If you like to know what’s awesome about Marina Point, just fill up the below.

[contact-form-7 id=”21734″ title=”Marina Point Melaka”]

or alternatively call 019-9131914. Cheers.

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Personal Finance 101: PN17 companies. Why, What and Who Questions.

What and Why PN17 company classification?

What is PN17 company?
PN17
 stands for Practice Note 17/2005 and is issued by Bursa Malaysia; relating to companies that are in financial distress. Companies that fall within the
definition of PN17
 will need to submit their proposal to the Approving Authority to restructure and revive the company in order to maintain the listing status.

According to
klmanagement.com.my
, here are the criterias for PN17 listing.

Criteria for a listed company to be classified as a PN17
 company are as follows:-

Shareholders’ fund is equal or less than 25% of the total issued and paid up capital of the listed company; or

Receivers and/or managers have been appointed to take control of at least 50% of the total assets employed of the listed company on a consolidated basis; or

Winding up of a subsidiary or associate company which makes up at least 50% of the total assets employed of the listed company on a consolidated basis; or

The auditors have expressed adverse or disclaimer opinion on the listed company’s latest audited accounts; or

For any default in payment, the listed company must announce its inability to provide a solvency declaration through
Practice Note 1/2001
 or
PN1
; or

The listed company has suspended or ceased all or a major part of its operations.

There are many reasons and circumstances for a listed company to fall under the classification of PN17. For example, some cases are classified as PN17 due to external factors such as currency fluctuation and economic forecasts.

Can the company escape the PN17 classification?

When a company is announced as a PN17 company (
list of PN17 companies in Malaysia
), it has to undergo a few exercises to comply with the requirements of Bursa; in which failing to do so will result in suspension in trading list securities (5 market days from the day of notice, the next day) de-listed from the market or both.

Regularize its condition within 12 months
 (1 year) from the date it was announced a PN17 company.

Submit a regularization plan
to the Securities Commission of Malaysia to see if the
 regularization plan will result in a significant change in the business direction or policy
, or;

Submit a regularization plan to Bursa Malaysia to
obtain approval
 (and implement) the
 regularization plan
(that will not result in a significant change in the business direction or policy.)

Implement the plan according to the time stipulated by Bursa or Securities Commission; whichever is applicable.

Could we still buy shares of PN17 companies?

The answer is Yes. Just to show one example of a PN17 company in the list below; Airasia X Berhad. Below image is dated 4th April 2023. Source: google.com by typing “AirAsia X share price.”

Who are these PN17 companies currently?

Info Source: bursamalaysia.com
 (As at 8th March 2023)

Syarikat PN17 dan GN3

List updated: 8 March 2023

PN17 Companies

AIRASIA X BERHAD

ALAM MARITIM RESOURCES BERHAD

ASIA MEDIA GROUP BERHAD

BARAKAH OFFSHORE PETROLEUM BERHAD

BERTAM ALLIANCE BERHAD

CAPITAL A BERHAD (FORMERLY KNOWN AS AIRASIA GROUP BERHAD)

COMINTEL CORPORATION BERHAD

DOLOMITE CORPORATION BERHAD (IN LIQUIDATION)

E.A.TECHNIQUE (M) BERHAD

FSBM HOLDINGS BERHAD

IQZAN HOLDING BERHAD

IREKA CORPORATION BERHAD

IVORY PROPERTIES GROUP BERHAD

JERASIA CAPITAL BERHAD

KHEE SAN BERHAD

KNM GROUP BERHAD

KONSORTIUM TRANSNASIONAL BERHAD

PERAK CORPORATION BERHAD

PHARMANIAGA BERHAD

PROPEL GLOBAL BERHAD (FORMERLY KNOWN AS DAYA MATERIALS BERHAD)

SAPURA ENERGY BERHAD

SARAWAK CABLE BERHAD

SCOMI ENERGY SERVICES BERHAD

SCOMI GROUP BERHAD

SEACERA GROUP BERHAD

SERBA DINAMIK HOLDINGS BERHAD (IN LIQUIDATION)

TOP BUILDERS CAPITAL BERHAD

Conclusion

People say do not judge a book by its cover.  Actually, whether it’s a PN17 company or a compay without PN17, please buy the shares only after understanding the business. If we do not understand the business of the company, then it’s probably not an investment for us. We cannot say it is an investment if we have zero idea about what we are actually investing in. When we know nothing about that investment, it turns into a potential gamble. Cheers.

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Melaka and that RM5 billion FDI from China for 2016

For readers of kopiandproperty.com, you would know that
I love Melaka.
 In fact I love lot of places in Malaysia. There are so many more places to visit, touch and feel. According to a report in NST, Melaka may be getting over RM5 billion worth of
Foreign Direct Investment (FDI) from China.
 Seriously, the Chinese are investing a lot of their money overseas. Question is, how much are we able to attract them. According to Malacca Transport, Project Rehabilitation and International Trade executive Committee chairman Datuk Lim Ban Hong, “We are looking to attract more Chinese visitors to the state, not only to boost the tourism industry but also industrial investments.”

Specifically, Lim mentioned two huge items which will help Melaka in its quest for more visitors. They include the Melaka Gateway and Impression Melaka. In 2015, over 60 million domestic and foreign tourists visited Melaka and Melaka is hungry for even more.
Impression Melaka
 is instrumental in attracting more Chinese tourists to Malacca. Another catalyst for more visitors would be the RM40 billion
Melaka Gateway project developed by KAJ
 Development Sdn Bhd. This is where the construction of the cruise terminal would start and once completed, it would be able to accommodate four large cruise ships at the same time. The target is to have 250 cruise ships docking every year by 2020.

I think it’s very important for the connectivity to be enhanced. Besides by the sea, the airport must also be fully utilised. For example, have more direct flights from China to Melaka. It was announced earlier that more flights were being planned. Let’s expedite this because Melaka as a
UNESCO Heritage City

is ready to welcome more visitors. I know, it will get ever more congested but do we really have that many choices? Melaka is not going to be able to become an agricultural or even industrial powerhouse. Let’s focus on things in Melaka which is not available in neighbouring states. Yes, their total number of visitors would always include me at least twice per year. Happy following.

written on 8 Oct 2016

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Melaka: Slow, steady and coffee

Melaka. There were lots of tourists in the Jonker Street area. It was a Saturday afternoon and I was walking along the road looking for the famous cafe which has coffee from all the 13 states in Malaysia. This is my 4th trip to Melaka within 2014. Any more frequent than this meant that I must buy a place instead of staying in hotels. Just kidding.  Not a lot of new things happen in the Jonker Street area and yet I can’t say nothing ever happens. Perhaps the right word would be slow. Yeah, time slows down when I am in Melaka, again. I work in KL city centre and the pace is much faster. A small piece of land or even older buildings are always in danger of being bought over by a development company and another high rise development would rise from it. Yes, Melaka is slow by comparison.

Steady. Are there new cafes sprouting in the Jonker area? Yes. Are there new shops opening with all these ‘heritage’ homes converted into commercial ones? Is Melaka becoming more popular? Yes, definitely. Car park slots are harder to find and jams are much more frequent. Every now and then some friends would post their Melaka trip photos.  Every now and then, I would change the hotel that I stay because I would find new ones in Agoda and they give special opening rates. It’s much harder to find a car park nowadays when we visit the malls in Melaka and the usual favourite food places are having ever longer lines. Steady and continuous growth is very important. Too fast meant the attractiveness may suddenly turn into nightmare. Too slow simply meant nothing happens. I think for Melaka, it’s slow and steady.

Coming back to my coffee trip. The cafe I went into really do have 14 different types of coffee from all the states in Malaysia and differences between them can be tasted easily! We ordered nothing coffee from 5 states and each one of them are special. Never mind if they are really from the states stated as long as they are really using 14 types of different coffee powders. Quality can be  maintained because the quantity of patrons are also maintained or increasing. In other words, sufficient business to ensure they have money to keep up their quality. Coffee, its availability and pricing would tell us if the market is good or not. Just look at smaller towns, would you want to open a cafe which charges RM7.90 per cup of coffee there? That’s why every time I travel, I almost always try out the cafes to look at its quality of coffee and service and quantity.

I think it is very safe to say that I like Melaka a lot. As for buying a property in Melaka or not, it really depends on a host of reasons that only you would be able to answer. It’s not top for potential capital appreciation. It’s not as small as the island of Penang. It’s not as near to Singapore as Iskandar. However, the awesome thing about Melaka is that, it is nearby so many hotspots and everyone knows there are lots of Singaporean registered cars in Melakaevery weekend. As for size, unfortunately the current concentration is just within the city centre and you just can’t grow too much new land within the city. There’s one huge reclamation project but that is for a longer term. Happy deciding.

written on 17 Jan 2015

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Melaka state election 2021. Really “amazing” that this happens.

Melaka state election. Really “amazing” that this happens.

Just this morning, I was chit-chatting with a good friend on the state of Covid-19 here in Malaysia. I told him my focus is on ICU cases and not the total cases. In fact I do think the number of cases will rise if the government allows inter-state travel and people need to understand this. A better measure is the number of ICU cases because this will eventually lead to death cases.

Everyone has forgotten what happened with the last state election?

One big reason for the sudden rise in the number of cases was because of just ONE state election previously. NOW, there is this announcement that we will be having the Melaka state election. It’s really “amazing” that just when things are really looking better, when inter-state travel will be allowed in the near future and the ICU cases are down to 60 percent versus over 100% just over one month ago… people want to go and vote for their favourite political parties again. Really?

Article in themalaysianreserve.com
   The Melaka State Legislative Assembly has been dissolved on Oct 4, thus making way for a state election. Speaker Datuk Seri Ab Rauf Yusoh said the Yang Dipertua Negeri of Melaka Tun Mohd Ali Rustam has pondered and decided to dissolve the State Assembly upon advice from Chief Minister Datuk Seri Sulaiman Md Ali yesterday.

Ab Rauf said, “The Yang di-Pertua Negeri Tun Mohd Ali Rustam has pondered and consented to the dissolution of the 14th State Legislative Assembly of Melaka on Monday, Oct 4, 2021.” Ab Rauf said the Proclamation of the Dissolution of the 14th Melaka State Legislative Assembly was gazetted today, Oct 5. Please read the full article here:
Article in themalaysianreserve.com

Perhaps we can have inter-state travel but one state is excluded from this arrangement?

Stop saying that there would be strict SOPs or even strict enforcements or however intensive the preparations would be.

When a state election happens, in this case, Melaka, we are talking about hundreds of thousands of people coming out to vote within one day. Sorry, it’s within a few hours. A few hundred thousands of people coming out to vote within a few hours. We can control them yeah. Plus all the political party supporters who will be there for the whole day. I think I have made my point. All the best my dear Malaccans. Your election is a very dangerous one for all of us here in Malaysia.

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Dinosaurs have ‘invaded’ Melaka Zoo. Family fun.

First day that the dinosaurs roam alongside all the animals here in the Melaka Zoo. Yes, Melaka Zoo is a nice place to be for families. It’s clean enough, small enough and friendly enough. Food and drinks are also NOT monopolised and the prices are also comparable to outside the zoo. They also do not force you to open your bag to be checked for potential food smuggling. Trust system works here. I think the staffs also have good motivation too.

Just look at their
Facebook page for some clues (click here).
Lots of continuous postings and lots of little animals to see too. Meanwhile the below would be some of the dinosaur and animal photos for everyone to view and later dropping by for a visit.

This is from their Facebook page.

The rest below are all from my visit today. As usual, my kids enjoyed it thoroughly as they do like animals and they do not have full day access to smartphone / tablet. Total average time they have access to handphone / tablet? Maximum is an hour a day. Both my wife and I are very strict on this, so too bad for them (my daughter and son), unlike many of their friends who’s on smartphone day in and day out.

Do have a look at the photos and if you think your kids would enjoy and you need a family outing day where the kids ask you a lot of questions about animals, this is the place to visit.

Haha. Banana tree inside the zoo

Here’s their FB page again.
Nope, by clicking on this link, I do not get any commission. You also do not get extra discount if you tell them you this on kopiandproperty.com too.  Anyway, just 150km away from Kuala Lumpur… Yes, I visit Melaka at least once per year and if we count just these past 7 years, then I am in Melaka on average 3 times per year.  Yes, I make it a point to visit a few different places everytime I am here and I DO NOT repeat the same places over and over. Happy visiting Melaka again yeah.

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Melbourne’s median house price is now $740,995

A colleague has just left the company and moving to Adelaide. A few reasons were mentioned but one key one would be the education for the kids. I think this is still a good reason as many Malaysians are there today for tertiary education. He said he has yet to look for a home because the prices there remained expensive, especially after conversion. However, he mentioned that compared Melbourne, the prices in Adelaide is considered affordable. I think he must have been following the
property prices in Melbourne too. Yes, it is still on the way up.

In an article in domain.com.au, Melbourne’s house prices have hit a new record median of $740,995. (RM2.25 million). This is after a continuous growth in the past 4 years. This is as per reported in a major real estate site in Australia, domain.com  Quoting experts, the reasons for this continuous rise would be interest rate cuts, lower stock levels and more investors hunting for properties ahead of the federal election. Even auction markets were active. the clearance rate (how many were sold out of the total on auction) is 80 percent across Melbourne. (It’s either every property being sold is very attractive or investors are just taking anything which is below market value) Domain Groups chief economist Andrew Wilson said that, “
Melbourne’s median house price is on track to record 5 per cent growth
 or more this year, about a third of last year’s.

Sometimes when we start wondering whether property prices have become way too high, just look at the affordability level. At current price, it is definitely considered
unaffordable already
. As per
Hudson’s Salary calculator
, a Financial Accountant in Melbourne earns between AUD80,000 to AUD140,000. With this pay, I think they are still pretty capable of buying that Melbourne home, even if it is in the suburbs. My friend will be joining as a sales executive in a company in Adelaide. No information is available for Adelaide but for someone based in Melbourne, based on Hudson’s Salary calculator again, the pay ranges from AUD55,000 – AUD80,000. I think he should still be able to get a home in the near future. As per fiveaa.com.au, the median home price in Adelaide was AUD415,000 in 2015 and should rise to AUD450,000 by end of 2015. For me, it’s still Malaysia as the main choice for now. No one knows the future, right. Happy travelling or investing.

written on 21 July 2016

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Melbourne: Most liveable and an attractive city for property investment?

I was in Melbourne just 2 months ago. It was my 4
th
 time visiting an Australian city (besides Perth and Sydney earlier) and I have to say that it lives up to its tag of the world’s Most Liveable city awarded by the Economic Intelligence Unit (EIU) for the past 7years. (2011 – 2017). My wife says the public transport is friendly and the city is clean, even when we were walking past construction sites! For me, safety is extremely important. While I did not see that many police officers, I felt safe even when walking from the hotel to the local Woolworths at 10pm at night. Do not be surprised yeah, some of these supermarket chains are open till midnight! So, it’s not entirely true that after 5pm, no shops are open. 😛

Beyond just the city, there were many attractions outside the city such as Yarra Valley, The Great Ocean Road, Philip Island and more. Yes, my whole family of 12 people enjoyed all these trips. So, all in all Melbourne city is definitely a great place for tourists. Statistics wise, Melbourne receives the most number of international tourists among Australian cities and international tourist have pumped A$42.3 billion into the Australian economy over the past year. This is an extremely significant number because the more tourists would mean more demand for services which in turns drives up job numbers and subsequently the demand for housing.

Resimax Group and Resimax Malaysia is a privately-owned property developer based in Australia.

I had a chat with their partner and director, Ken Dodds, who said, buyers must look at 6 major reasons when they are buying a property. All these are key reasons available in Melbourne.

A vibrant job market ensures the demand for housing continues to grow. The one major reason for demand of services would be population growth. According to the Australian Bureau of Statistics, Australia’s population has hit the 25 million mark. If we look at new permanent arrivals into Australia, 90 percent are concentrated into Melbourne and Sydney. (Source: Department of Home Affairs) This augurs well for the Melbourne property market for which the median property price is still much lower than Sydney.

Cost of living / Housing affordability is another key measurement we should use. Whenever I shop in those supermarket chains, I do realize that salary earners in Melbourne would be able to afford more things than me in Malaysia. Perhaps this is one advantage of having a stronger currency. Where the housing is concerned, if we are comparing the top two cities most favoured by new permanent arrivals, Melbourne’s median price has a gap of 30 percent with Sydney’s.

Healthcare is another important factor. We need good care from specialists when we fall sick. The quality of healthcare services in Australia is second to none. I still remember most of my friends who study medicine would usually be in University of Melbourne.

Beyond just these, there’s also the infrastructure for which Melbourne is well known. Public transport wise, Melbourne has trains, trams and buses and for those times that I have taken them, they were all on time. Yes, the coaches are also clean too. It’s either cleaners are working harder or perhaps it’s the commuters themselves. Travelling to those tourist spots are seamless and the expressways are well established too. Roads even in smaller towns are without potholes!

Australia is the 3
rd
 most favoured destination of international students but by the end of 2018, it may already be the second most favoured. This was based on a study by Centre for Global Higher Education at the UCL Institute of Education, University College, London. With this growth continuing and Melbourne being a favourite city for the students, the demand for property is likely to continue.

For those who are thinking of making Melbourne a home or even for potential overseas property investment, always ask lots of questions before deciding.
Here’s one event brought to you by Resimax Malaysia:

To learn more about property investment and Melbourne’s future property growth, you must attend Property Power- a FREE half-day purely educational workshop hosted by Resimax Malaysia. Resimax Malaysia is a part of Resimax Group- one of Australia’s largest private property developers. At the seminar, these are the TOP 4 things you will learn:

What’s going on with Melbourne’s property market

how to invest with minimal risk and achieve high rental yields

how to acquire a property without large deposits,

what does the future hold for Melbourne property investors.

To find out and register for free,
 click here. Property-Power by Resimax

Feel free to get in touch with them too:

RESIMAX MALAYSIA SDN BHD,

UNIT  29-1, LEVEL 29, TOWER A,

VERTICAL BUSINESS SUITE

AVENUE 3, BANGSAR SOUTH,

NO. 8, JALAN KERINCHI,

59200 KUALA LUMPUR.

TEL: 03-27839678 / 017-2233965 (Mobile No.)

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Melbourne properties – the loss, the good and the future?

I visited Melbourne for the very first time a few months back. It was my 4th visit to an Australian city and I must say Melbourne looks more metropolitan than Perth which I visited twice before. Then, I checked and came to know that Perth has a population of around 2 million while Melbourne’s hitting close to 5 million as at end 2017. It was growing by 3.21%.
(Source here)
  When it comes to property investment into Australia, two major cities are always top on the list; Melbourne and Sydney. Then, I read two not so awesome news about Melbourne.

First, the city of Vienna has overtaken Melbourne to be ‘Most Liveable City’ in the world for 2018, as per the Economist Intelligence Unit.
(Source here)

Melbourne was the winner for the past 7 consecutive years before losing its crown. Second news was the overcrowding issue for Melbourne and Sydney. Both these cities took in 90 percent of all new arrivals into Australia. This has taken a toll on the public transport serving the cities and there are now plans by the government to slow down the migration into these two major cities.
An article here.

Distance and Investment reasons
 – When we look at the ‘lost’ of the Most Liveable city crown to Vienna and look at property investment as a Malaysian (who’s already looking at overseas property for diversification), I think we should also realise that Vienna is 18 hours away by flight from Kuala Lumpur while Melbourne is less than half of that at just 8 hours. The usual reasons for property investment is also for future capital appreciation and it is very important to ask if the attractiveness of Melbourne as a good place to stay, enjoy and invest has actually changed because of this loss. Based on my visit in June, I think Melbourne remains a hot favourite city and will be the same for the future.

Infrastructure and Amenities –
The notion that supermarkets are all closed at 5pm is actually not true at all. When I was in Melbourne, from my hotel within the city centre, it was within walking distance to three hypermarkets which were open until 10pm or later. In fact in all my trips with the city’s trams, they were all on time even if not right on the dot like that of the Japanese Shinkansen. (bullet train). The streets are always clear of rubbish and the public toilets should be an example for our country, seriously. The construction for the upgrade and enhancement of the rail system which was happening in many places within the Melbourne city was also very professional. Disruptions to the traffic was minimal if any. I think infrastructure and amenities are two critical reasons why Melbourne continues to be within the top most liveable cities of the world. There are supermarkets in the city open till midnight. This is due to the ever growing population in Melbourne. Many new train stations are now being built for the convenience of tomorrow.
(Source here)

International students
 – Melbourne remains a hot favourite for most international students too and it’s not just for Malaysians. Education is Australia’s third largest export after iron ore and coal. This tells us a lot about the extent of the demand for properties because many parents were buying properties for their children’s university years and beyond. There are at least 300,000 international students in Australian universities and more than 20% of the total are within the Victorian state where Melbourne is.
(Info Source: AustralianUniversities.com.au)
  Many of these future graduates may be working in Melbourne in the future too leading to demand expansion beyond just university accommodation. Beyond just the international students, many people from the regional and interstate are moving into Melbourne due to job opportunities and the cost of living which is cheaper than Sydney. Median property price in Melbourne is also lower than Sydney.

Future capital appreciation?
 Property prices should not move up indiscriminately. If it moves way too fast and keep going up without any pauses at all, we are looking at a potential bubble which may burst once the income could no longer support it. There are now predictions that property prices in Melbourne could fall up to 15 percent from its peak. Apparently, perhaps prices for some areas have risen way too much.
Article here.
 This prediction is seen to the be worst case scenario but we must note that even at this level, it merely takes the property prices back to the 2015 level. Now, the next question is this, are we confident with the Australian economy? We should always note the property market will always have a cycle. As long as we have confidence with Australia, eventual growth and profitability may be inevitable.

It is very important to note this,
“Sydney and Melbourne office space failing to keep up with demand.”
This tells a lot. Businesses are expanding but they could not find enough office space. With more businesses, there will be more job opportunities and this meant that the population growth in the two major cities in Australia will continue to grow, even after taking 90 percent of all the new arrivals into Australia.

Last but not least, property investment is a long-term decision. If the thought is to buy now and sell next year, I am not sure if there are any cities in the world which could fulfil this requirement. If we are looking at one of those advanced property markets in the world with cities within the world’s most liveable cities, then Australian cities do make perfect sense and within Australia, two cities stand out; Melbourne and Sydney. Please do not buy without understanding and asking lots of questions though. Perhaps this upcoming event by an Australian property developer of over 20 years, Resimax may be of interest. Learn, Ask and Decide later. Details as follows:

To learn more about Property Investment in Melbourne and Australia, attend Property Power- a FREE Australian property education seminar at the Intercontinental Hotel, KL on 24th November, 2018. For more information and registrations visit:
https://propertypowerkl.resimaxgroup.com.au/

At the seminar, these are the TOP 4 things you will learn:

How to invest with minimal risk and achieve high rental yields

From an Australian tax accountant about the tax laws of Australia for foreign property investors

From a finance specialist and guest speaker- what you need to know in order to secure the best financial deals

How to avoid the most common errors made by foreign investors

To find out and register for free, click here.
 Property-Power by Resimax

Feel free to get in touch with them too:

RESIMAX MALAYSIA SDN BHD,

UNIT 29-1, LEVEL 29, TOWER A,

VERTICAL BUSINESS SUITE

AVENUE 3, BANGSAR SOUTH,

NO. 8, JALAN KERINCHI,

59200 KUALA LUMPUR.

TEL: 03-27839678 / 017-2233965 (Mobile No.)

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Things we MUST know before we invest into Melbourne real estate

Real estate investment is a super-expensive decision to make. This is especially for Malaysians who are now diversifying into overseas properties. When we look at the distance as well as connectivity, education destination and even migration possibilities, Australia is usually a natural choice. Within Australia, one city usually stands out; Melbourne. It won “World’s Most Liveable City” for 7 consecutive years from Economist Intelligence Unit.

Before we jump right into Melbourne however, it’s best to understand what are the considerations we must take note of. Making a mistake will cost us both time and money. Perhaps it’s good to listen and then ask lots of questions so that we can also be much more familiar with Melbourne real estate? These two specialists will be speaking in
Property Power event on 22
nd
 September 2018.

Ken Dodds – Development

Resimax Group, Ken Dodds is uniquely qualified to offer insights and guidance to anyone wishing to improve their ability to identify, research and negotiate solid real estate deals. Ken has earned a reputation as a respected international speaker at property investment and development seminars around Australia, New Zealand and Asia.

With a wealth of industry knowledge and experience, Ken is a full-time property developer, investor and mentor working with those who wish to create wealth and security for themselves and their families through property investment.

Adrian Gurney – Investment

Adrian has had over 25 Years active experience in the Real Estate industry, earning a Top 5 Sales Achiever award in his first 1st Year

In just 18 months he became a Branch Sales Manager moving on to own and operate a national Real Estate Business. A TAFE Course Guest Facilitator, in 2016 Adrian joined with Resimax as a Business Partner.

The topics that they will cover under the ‘Property Power’ series here in Malaysia includes the following:

Property Law

Finance

Taxation

Depreciation

Land Developing

Rental Agreements

Land off the Plan

Quantity Surveying

And more

By the way, all attendees get a chance to win a free trip to Melbourne too. More details at the bottom.

Sign Up Here

Event details:

Location:

InterContinental Kuala Lumpur

165 Jalan Ampang

Kuala Lumpur, 50450

Malaysia

Saturday, September 22 2018

Time:
 11am – 2pm

Other details:

Property Power is hosted by Resimax

The Resimax Group is one of Australia’s largest private real estate development companies and an Australian success story, which now controls more than 5,000 residential lots with an end-developed value of more than AUD $2 billion.

In the past two years alone, the Resimax team has helped investors secure more than 550 residential properties. Many of those investors have already seen growth of 20 to 30% on their properties and a significantly greater return on their money.

Resimax see one of their roles as providing you with next-level property investment knowledge that allows you to confidently take advantage of the once-in-a-generation opportunities available in today’s market.

LEARN HOW to make acquiring an investment property EASY, SAFE and AFFORDABLE. By the way, all attendees get a chance to win a free trip to Melbourne too. More details at the bottom.

RESERVE YOUR PLACE NOW
.

Property Power has limited seats.

For additional queries, call or WhatsApp: 017 223 3965

To find out and register for free,
 click here. Property-Power by Resimax

Feel free to get in touch with them too:

RESIMAX MALAYSIA SDN BHD,

UNIT  29-1, LEVEL 29, TOWER A,

VERTICAL BUSINESS SUITE

AVENUE 3, BANGSAR SOUTH,

NO. 8, JALAN KERINCHI,

59200 KUALA LUMPUR.

TEL: 03-27839678 / 017-2233965 (Mobile No.)

BOOK NOW

How did past attendees react?

In this FREE half-day comprehensive introductory workshop, you’ll learn the What, Where, When and most importantly HOW to successfully invest in Australian residential real estate.

Resimax Group is proud to host a free of cost education event for you because we want to build a community of investors or would-be investors strong-armed with knowledge and the right education. We don’t sell anything at our education events, however, should the day come that you decide to make an investment, we want you to be well-informed, decisive and confident. We also want Resimax Group to be at the top of your mind for when you finally take the big step.

If you want to take advantage of the hot property opportunities emerging right now –
Don’t miss out
 – claim your free seat before it’s too late!

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Melbourne: Most Liveable and Attractive City for Property Investment?

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Chance to buy a top 10 tallest building in Malaysia a.k.a Menara TM

Just too exciting not to write about it

Too many people shared this exciting news in their FB account. Everyone has their own views too. So I decided to at least see if I have the money to buy. Haha. After I checked, I know my bank account has way too little money to send in my expression of interest. So below would be my view as well as some explanation about what is this ‘expression of interest.’ What’s so different between selling Menara TM and that RM1 million residential property.

The advertisement looks like below. It says ‘For Sale’ but as usual, it stated very clearly at the end that this is For Sale by Expression of Interest.

What is expression of interest?

Well, it means you tell the appointed marketing agent that you have interest to buy Menara TM. They reserve the right to ask you a lot more questions to ascertain your suitability (can pay or not… who are you etc) and also interest (are you serious or not and why you want to buy?) and whatever other requirements which the owner would like to know prior to starting the sale process.

This is not a RM1 million home yeah. No point in engaging anyone who may not be able to proceed until the end. I do wonder how soon people can forget the name of Menara TM and start calling this tower by the name of the new owner instead. What if a big brand name buys this up as its regional HQ? Wow, that would be a coup not just for the owner but for Malaysia too.

Happy following.

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5 Must-Do steps for property investment.

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Yes, it’s up for sale. Perak MB’s residence. 5.3 hectares, how much?

I was in Ipoh this weekend to give a talk for REHDA Perak’s Mapex 2018.
(Click here to know more)

Then someone mentioned to me that there is a huge land sale. Here’s that piece of news. This is more of news for Ipohans yeah. For years, I have often wondered when will the Perak Menteri Besar (MB)’s residence be sold. That piece of land is pretty prime and well, there has also been some news that the fengshui is not that positive. It’s next to a roundabout which meant that the MBs who stay there will not last long. It’s like a merry-go-round. Now, there’s that potential. Reported in news.yahoo.com was this potential sale and it was confirmed by the MB himself.
Please do refer to yahoo.news for the full article.
Ipohans would know where is the official residence of the Perak mentri besar. It’s on Jalan Raja Dihilir (next to the roundabout).

The Menteri Besar Ahmad Faizal Azumu has confirmed and he said the decision was made because of ongoing high-rise development surrounding the 5.3-hectare property, which made it unsuitable for a mentri besar to live there. He told reporters, “The state Economic Planning Unit is currently gathering suggestions on what to do with the residence.”  According to Ahmad, this is not a new suggestion. There has been suggestions to relocate the mentri besar’s official residence since the state administration of Tan Sri Ramli Ngah who helmed Perak from 1982 to 1999, but no action was taken then. He shared, “Maybe because of political reasons, the project did not take off. But as years passed, its surrounding area is seeing vast development with tall buildings. It is time to think of a new place.”
Please do refer to yahoo.news for the full article.
 The MB is currently staying at the official residence of the State Secretary which is located further down the same road. Within the article, it was also revealed that Malay Mail have information that the land on which the official residence is situated has a market value of RM80 million.

Personally, I think it’s more important to have a clearer explanation as to the financial implications of the sale. Will there be gains to the Perak state government or will it cost much more to build a new residence for the MB? The MB does not need a large compound actually because those open houses could have been conducted in the stadium instead. However, it will NOT make any financial sense if after the sale, the state government would still have to fork out a super huge amount for a new MB’s residence. However, I am equally interested to know what would be the plans for the piece of land. Would it be bought by a Perak based developer or perhaps one of the big names in KL instead? it does not need to be for residential yeah. A good commercial development can be considered too since 5.3 hectare is 13-acres or 566,000 sq ft. Happy waiting for more details.

written on 4 Aug 2018

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Merdeka 118 by PNB will be ready by 2022. Cool or Wow?

This is the world’s second highest tower at 678 metres. Merdeka 118 by PNB. It was supposed to have been completed in 2021 but the current COVID-19 has slowed down the construction progress. Thus, it is now expected to be completed only in Q2 2022 instead. Our Merdeka 118 by PNB is taller than our Petronas Twin Towers BUT Petronas Twin Towers remain the tallest twin tower in the world yeah. There are also no twin towers being planned for completion anytime soon. Yes, it is ours because these days, Petronas Twin Towers is a must-visit for all foreign tourists and we will introduce it with pride. In the future, we have two.

Article in thesundaily.my
   PNB president and group chief executive, Ahmad Zulqarnain Onn said, “We are currently at Phase 1 of the development that involves the Merdeka 118 tower and the surrounding infrastructure. Our concrete core structure has reached its peak at Level 118 and our tower facade has reached Level 82. “It is envisioned that the Level 118 floor slab will be completed at the conclusion of 2020.”

Ahmad Zulqarnain said the project is currently in the beginning stage of Phase 2 which comprises the retail mall and Merdeka Boulevard @ 118 linear park. He also shared that the launch of the residential towers which was originally slated for the end of 2020 will be delayed to Q4 of 2021. Merdeka 118 will also include Park Hyatt Kuala Lumpur; an observation deck; a retail mall; Merdeka Boulevard @ 118 – a four-acre Linear Park and open public spaces; Look @ 118 – a cafe with ‘Instagrammable’ view; Merdeka Residences and a childcare centre for children under seven years old; and a mosque within the precinct that could accommodate up to 3,000 people. Lotsof other details,please refer to the article here:
Article in thesundaily.my

Connectivity to Merdeka 118 by PNB

Connectivity wise, Merdeka 118 by PNB will be connected to the Merdeka MRT station. the station would have a pedestrian walkway to Plaza Plaza Rakyat LRT station. Beyond this, the Maharajalela Monorail station will be within walking distance of the building’s recreational park. The monorail station will be able to connect you to the rest of the LRT lines. Yes, I do think taking the MRT there may be a better option by then. Driving will not just be more expensive but likely to face traffic jams too.

Interesting parts of Merdeka 118

Merdeka 118 would house a 83-storeys of Grade-A offices and 17-storeys of Park Hyatt Hotel. Amenities such as sky lobby, VIP lounges, and more will be at the top in the remaining 18 floors including the observation deck and restaurants which will be on the four highest floors. It offers dining in the sky and you have been to the 282-metre sky dining at Atmospehere 360, then you need to know that dining in the sky at Merdaka 118 would be 500-metres above ground!

Can the mall really be successful?

I think many would be worried if the mall could be a successful one due to current situation. Perhaps there’s a blessing in disguise since the completion would now be pushed back. Location wise, this is within the city centre and actually within walking distance to many other shopping attractions too. This could be an advantage too since one may be attracted to go to the city centre for a few malls versus going to just one huge mall. Just need to make sure the brands they take in are different from other nearby malls.

Note: Header image source:
https://www.halfen-moment.com/8-interesting-facts-about-merdeka-pnb-118/

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Merdeka 118 is tallest but Petronas Twin Towers also tallest too!

Charles, are you joking? How can both Merdeka 118 and Petronas Twin Towers be tallest in Malaysia? Super brief explanation? Merdeka 118 is the highest tower in Malaysia once it is completed. Petronas Twin Towers is the tallest twin tower building in Malaysia since 1993. So, when any of our foreigner friends ask us, it’s worth explaining both with pride because both are ours too. Please do bring all our foreign friends to visit both as well.

Merdeka 118 will also be a catalyst too

One has been a catalyst to everything around it (nowadays, buying a property with Petronas Twin Towers view carry its own premium!) and the other one would start to become a catalyst to everything surrounding it too. There’s no need to ask too much about whether there’s too many office space.

Just remember, if that new foreign MNC is coming into Malaysia and wishes to stamp their mark, it will be way better to be based in Merdeka 118 versus some not-so-famous office tower… Simple fact. Do not believe me? Continue to have your thinking yeah, I am not changing mine. 😛

Article in nst.com.my
  Merdeka 118 will be the second tallest tower in the world when it’s completed in 2022. it will stand at nearly 700 metres above sea level. However, the true height will only be revealed when it’s completed. It is 118-floor tower, thus the name.

An aerial shot of the ongoing construction of Merdeka 118. Image source: nst.com.my

For comparison, the world’s tallest buildings like Burj Khalifa in Dubai, UAE, is the tallest and has a height of 828 metres. Shanghai Tower in China is the current second tallest tower in the world and has a height of 632 metres.

All these records will be broken when the Kingdom Tower in Jeddah, Saudi Arabia is completed at a height of 1,008 metres (yes over 1 kilometre!!). Please do read the full article here with a lot more details:
Article in nst.com.my

Yes, I do think this is another building which every tourist would want to visit and take photos of

How do we measure all these additional economic activities from people flocking to see the building and later on buying souvenirs from stalls around the structure or in shops nearby? How about the cafes, restaurants and even sellers of other Malaysian delights? My wish is of course for all these to be manned by Malaysians and not foreigners. Let’s keep it to this yeah. If Melaka’s Jonker’s Street could do it, then it can be done for Merdeka 118 too.

Yes, of course if one is buying a property with Merdeka 118 view, it will come with a premium too. No idea which one will have a higher premium, Petronas Twin Towers or Merdeka 118. Happy visiting yeah.

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Merger of OSK Holdings, OSK Property and PJ Development

The news has been circulating for some time but today, the shareholders of OSK Holdings Bhd shareholders has approved the purchase of OSK Property Holdings Bhd and PJ Development Holdings Bhd. for up to RM1.71 billion. In essence, OSK Holdings will buy 72.4 percent in OSK Property for RM346.4 million. New shares totalling 177.64million shares would be issued at RM1.95 each. OSK Holdings would also be buying 31.6 percent in PJD for RM223.64 million. this will be completed via the issuance of 114.68 million new OSK Holdings shares, also at RM1.95 per share. The most significant part of this merger is that the three combined companies would have assets totalling more than RM5 billion.

As a developer, OSK Property is considered a big one where profits are concerned. While many of the listed developers are struggling to turn in RM50 million profits per year, OSK Property’s ended Q1 2015 with RM48.3 million net profit. Yes, this is just for Q1 2015. It’s Q1 2015 revenue was RM284 million. This meant the net profit margin for OSK Property is at a healthy 17 percent as at Q1 2015. This is higher than SP Setia’s latest announced results. Read here:
First 6 months, SP Setia’s net profit margin at 12.83%
Meanwhile PJ Development Holdings Bhd reported a net profit of RM32.59mil for its second quarter ended Dec 2014 versus a revenue of RM240.40 million. This gave it a net profit margin of 13.6% The one thing PJ Development is ahead is its overseas venture. It has already announced a potential development in Melbourne with a Gross Development Value of between RM8 – RM9 billion.

I personally believe that more of these mergers would continue to happen. The reason is simple, size matters. The merged entity is able to be better placed when compete against the bigger developers which are coming into Malaysia in a big way. Smaller players would be able to continue offering niche and smaller projects but these big players would have the strength to build huge new developments in new areas. I rate this as good as it meant that we do not need to concentrate on just that few hotspots all the time. Wishing this new merged entity the best.

written on 6 July 2015

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MERRY CHRISTMAS and HAPPY HOLIDAYS!!

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MRT Line 1, phase 1 trial begins in October 2016

We have a few more good news, especially for all the areas covered by MRT Line 1. I meant
these stations.
 First up is that the trial for Phase 1 of the Sungai Buloh and Kajang (SBK) will start in October 2016. Yes, that’s just slightly over 2 months more. Malaysia enters MRT era. According to Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) operations and asset management director Mahmood Abdul Razak, all 24 trains required for Phase One operation had been delivered to the Sungai Buloh MRT Depot. In fact, track works have been completed for both guideways and tunnels and the trial operations would be on 1 October 2016.

Second up is that there would be
more car parks available
 than the current issues with many LRT stations. It announced that there would be multi-storey parking bays for 200 to 600 cars while open space parking can accommodate 100 cars at a time. The stations with the park and ride facilities are Sungai Buloh, Kwasa Damansara, Kwasa Sentral, Bandar Utama, Phileo Damansara, Pusat Bandar Damansara, Maluri, Taman Midah, Taman Suntex, Sri Raya, Bandar Tun Hussein Onn, Bukit Duking, Sungai Jernih and Kajang. It will have integration with Touch N Go as well. This is extremely important.

Third piece of news shows that
everything is on track.
 The phase two Semantan Station and Kajang Station would be operational in July 2017. he shared that as at end May, the overall progress of the MRT SBK Line was at 86.25per cent. Rapid Rail will be the operator of Klang Valley MRT. It will be in charge of daily technical maintenance, customer service, fare collection and station facilities while MRT Corp remains as the asset owner.

Fourth good news is that there would be
300 feeder buses to provide first and last mile connectivity
 to the MRT network. We can’t be expecting everyone to drive. Of course, for first phase, 140 feeder buses will start. Well, let’tslook forward to the start end of 2016. I will be one of those who will try it out, hopefully within the first week itself. Haha. Yes, I stay pretty close to the MRT station in Sungai Buloh.

written on 23 July 2016

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Meta and Twitter are becoming a smaller company (headcount wise…)

You must have read, somehow. You may be surprised. You may be thinking if this is a global phenomenon. Well, these two companies have been on the news every day. One is helmed by Mark Zuckerberg and the other by Elon Musk. No idea if both are great friends but they have decided that in order for the company to do better in the near future, it’s best to have fewer people on board. Both have decided to lay off 11,000 and 3,700 employees respectively. Do read the below

Twitter laid off 3,700 of its employees.
Article in fortune.com here.
  In a matter of days, Elon Musk’s $44 billion purchase of
Twitter
 has spurred outrage and sown disorder among company ranks. On Friday, Twitter unceremoniously laid off 3,700 staffers—some
50% of its workforce
. The harried and disorganized dismissal came less than a week after the social media giant’s new CEO—er,
Chief Twit
—billionaire Elon Musk, took the helm.
Article in fortune.com here.

Meta is cutting 11,000 employees.
Article in cnbc.com here.
  Meta is laying off 13% of its staff, or more than 11,000 employees, CEO Mark Zuckerberg said in a letter to employees Wednesday. “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” Zuckerberg said in the letter. “I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. Do read the full article here:
Article in cnbc.com here.

Everyone has potential to be fired

I do not think there are that many people who joined either Meta or Twitter thought that there is likelihood that they could lose their job suddenly. Perhaps those who joined a small unknown firm may have those thoughts instead. What this tell us is the simple fact that we have to take care of ourselves because the company we work for would have to take care of its shareholders first. Else, the company ceases to exist.

This is why a job should not be the only course of income

Sorry, I am not saying everyone should go do deliveries after work. I am saying that our earnings must be invested so that we have returns. This is so that if something unforeseen happens, for example we got retrenched, we could still have time to find another job. At least we still have enough money to pay for meals, pay for petrol, pay for electricity and more.

In many places, this may not be possible and I do think out of the 11,000 people from META or 3,700 from Twitter, there would be people who are now relying on the extra salary payments from both companies after being laid off. In fact imagine if we got laid off and still have to pay rental… or home mortgage. That’s a double whammy because on one hand our income has stopped but on the other hand, expenses will have to continue.

Loss of job means loss of demand for goods and service

If these 11,000 plus 3,700 people uses to spend US$1,000 per month, that’s US$14.7 million and if we use a multiplier effect of 4x, then the loss in economic contribution is US$59 million. In one month, if these people did not manage to find a new job, then the total loss to the economy is US$1.8 billion…. That’s just one month and that’s just based on US$1,000 spending yeah. This is why the GDP growth would slow down if many people are unemployed.

Hope that these numbers are the final ones and everyone in both companies would soon feel that the worst is over.

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Buying (UN)real estate in Metaverse? Be prepared with more money.

Metaverse is for real, someone told me

Someone told me that metaverse is for real. Everyone would soon be on metaverse. In fact, it’s better to be in metaverse as early as possible and start investing there. I do not doubt that someone. I do think metaverse will be going through a rapid rise and even transformation. Just look at how much Microsoft intends to pay to start their journey seriously.
 Microsoft plans to acquire Activision Blizzard for US$68.7 billion
 or even the fact that Facebook is now known as Meta.

Anyway, a good article to read is below, in Forbes.com  It explains that someone paid a lot of money to be next to an idol. WOW!

Article in Forbes.com
  Digital Land Grab: Metaverse Real Estate Prices Rose 700% In 2021. In December 2021, a fan of the musician Snoop Dogg paid $450,000 to purchase “land” in the metaverse next to Dogg’s virtual property. Please do read the full article with a lot more details here:
Article in Forbes.com

If real money is needed…

When more people are on the bandwagon, as usual, even more people will be in as well. Just need to remember this. If we need real money in order to do very well within the metaverse, it also meant that the wealthier people in the real world today will dominate the metaverse when it becomes extremely mainstream in the future.

For example, if a billionaire decides that he / she likes to go into metaverse and buy up some serious real estate using his real money, then it’s likely that his piece of real estate in the metaverse will be way bigger than what I could afford… So yea, participating may be necessary but if we really want to achieve anything significant, try to also do the same in the real world first.

After all, we will still need to switch off that metaverse to eat breakfast, lunch, dinner too. Cheers.

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Micro-housing? More details please. Maintenance?

Is Malaysia heading the way towards micro-flats like in Hong Kong? The answer is NO, at least not yet for the next foreseeable future. There are many things which the government could still do even if the buyers prefer to buy nearer to the place they work instead of
families which may buy into townships further away.

I kept reading this piece of news that I think I have to write about it. Kuala Lumpur City Hall (DBKL) says that it will be providing single people with low income in the capital city with micro housing facilities this year. It says that it is currently refurbishing an existing building along Jalan Tuanku Abdul Rahman to be turned into a capsule hotel with residential units for them. This is what Kuala Lumpur mayor Datuk Nor Hisham Ahmad Dahlan said of the scheme which is targeted at the B40 group. “But once they are married, they will not be eligible for micro housing.”

The mayor shared that the rental is RM100 per month and there would be a total of 200 micro housing units for men and women. He said that this micro-housing scheme is to give back to society just like free GoKL buses while the rental fee and application method will be finalised soon.
The full article in TheStar.com.my here.

I think we really need more details sooner rather than later. These micro-homes, are there security provided for the units? What about some rules and regulations. It’s for singles, but if someone were to bring another someone, is it allowed? If it is now, who will be enforcing it. If this is really aimed at the B40, then please ensure it’s near to public transport station. 200 units @ RM100 = RM20,000 per month. Has the mayor found a management company which could ensure proper maintenance of the units? I am really hoping that moving
forward, maintenance becomes key to everything we do. Earlier article here.
 This is so that there’s a future for the programme and not just build and a few years later, rebuild and keep costing ever more money. In one word, let’s make it sustainable! Happy following.

written on 10 Jan 2019

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Microflats. When the focus is on affordability.

When the space is little

Once upon a time when I was in Hong Kong, I stayed in a small flat with just one room and it was not something I would feel comfortable with. In fact the shower room was so small that my good friend faced some difficulty locking the door when he showered. I did not remember the size but I do think it’s bigger than a car park space. A typical car park space is 8ft x 18ft = 144 sq ft. Now, let’s look at some facts of life with microflats in Hong Kong and also the question of affordability.

Article in bloomberg.com
 A doctor stays in a 220 sq ft space and says that, ‘It’s alright to live here alone.”  There are around 8,500 of these tiny units in Hong Kong.

Max Lee in his microflat in the heart of Kowloon.Photographer: Lam Yik/Bloomberg

Home prices rose 187 percent from 2010 to 2019 because of critical shortage of homes. Now average home prices exceed $1.3 million (RM5.47 million) and the current minimum wage is just $4.82 (RM20.29) an hour.

Microflats, the tiniest are 128 sq ft.

Illustrator: Josh Kramer/Bloomberg CityLab

Hong Kong’s topography also promotes the tendency toward small units. The mountainous landscape of its islands isn’t suitable for development, and 75% of the territory is green space or natural landscape, much of it in the form of protected country parks.

There is going to be a creation of Northern Metropolis with housing for 2.5 million people near the border with China. Home prices have risen 5 percent in 2021. Average cost of a nanoflat with less than 200 square feet rose to $3,276 per square foot in the first nine months of 2021, according to Midland Realty.  The article is a long and comprehensive one. Please read it here:
Article in bloomberg.com

My choice is to stay further away, not smaller places

If I am to choose between size vs distance, I would choose size anytime. Driving an extra 10 minutes away from any popular neighbourhood usually saves me easily 15-20 percent in property prices. In actual amount, easily 6-figure number. If I am willing to drive an extra 10 minutes away from this extra 10 minutes, I would be looking at even bigger space for even lesser money.

I am not alone yeah. Just look at the property transactions and everyone should realise that more transactions are at further away places and not the ones inside the city centre or even the ones surrounding the city centre. Perhaps when the choices are still aplenty, it’s best to grab a place. Upgrade later if possible, else, sell when we retire and use the money however we wish. Paying rental forever is certainly not a good option.

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Microsoft plans to acquire Activision Blizzard for US$68.7 billion

Metaverse is really something everyone (I meant the giant companies) is trying to be dominant in. Whether it’s Facebook which even changed its name to Meta and now, latest news about Microsoft acquiring a company in order to have a jump into the metaverse scene. The acquisition is a US$68.7 billion deal…

Article in edition.cnn.com
  Microsoft announced that it will acquire Activision Blizzard in a $68.7 billion deal. Activision Blizzard is the the video game company behind blockbuster hits like “Warcraft,” “Overwatch” and “Call of Duty.”

Microsoft says that this acquisition will make the company the third-largest gaming company by revenue, after Tencent and Sony. CEO of Activision Blizzard, Bobby Kotick will continue in his role. This deal is pending regulatory review and the deal is set to close in 2023. The acquisition would boost Xbox-maker Microsoft’s Game Pass portfolio with the addition of Activision Blizzard games and the nearly 400 million monthly active players that come with them. Please do read the full article here:
Article in edition.cnn.com

I have only played Warcraft

When I was way younger than today, I could play Warcraft for many hours non-stop. I thought it’s a pretty good game. These days, due to work commitments I am no longer playing. However, with internet, it also meant that access and appeal of games are now much more international than previously. Just look at the prizes on offer for gamers and we know that it’s super popular.

Moving forward, no one knows for sure how metaverse will work out or become. Perhaps one of these big names could become dominant in the metaverse world? Or maybe metaverse will have a few big players and one could choose to be in all of them or just into one?

Truth is, there’s no such thing as one choice which is best for everyone. What will however happen is that there may just be one dominant choice because everyone wants to be where the action is. No one wants to be in a metaverse which no one in the whole class is talking about… right?  All the best to all these players moving into the metaverse world. Nope, I do not own any property in metaverse at the moment. Cheers.

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