Career, property and my noisy wish

When I first started working, my wish was simple, earn more and more each year. This is so that I can visit my girlfriend in Sandakan Sabah. I did quite well because for first three years of my working life, my increment was double digits. I don’t think majority gets double digit increment every year. Then, my girlfriend from Sandakan came to Penang and became my wife. We decided to buy our first home. There were very few condo choices then, typically Sunny Ville, Gold Coast just to name a few but at that time I felt that the price was too high. Thus I settled for a nice little apartment called Villa Kejora. That’s when everything started. I realised that I could still afford another property and worse case scenario, I just have to sell Villa Kejora.

We bought Regency Heights which turned out to be my best buy thus far in terms of ROI. Oh yeah, I think it’s impossible to have such ROIs today. Then, I realised one little fact. It is very important to have a good career path. Even more important to always work hard because that’s your brand. My Japanese GM from my first company who is now a President of a public listed company still keeps in touch with me and scolded me when I did not visit him in Japan when I was there during the tsunami few years back. However, there is one part of my life which I feel I have done right; property investment. Not as early as I wanted but I started. It has given me an opportunity to fasten my wealth buildup while at the same time work hard because truth is, property investment does not take too much of your time. It’s definitely not forex which my friend kept saying is the best form of investment. I don’t agree.

Coming back to my noisy wish, perhaps in another 10-15 years? I wish that one day, I would be able to retire in Ipoh. By then,  I would be able to buy a bigger landed property in a gated and gated place with a nice clubhouse.  Perhaps have five children of which the few younger ones would still be running and doing mischievous deeds. So much so that I have to shout for them to keep quiet for a few minutes. Within few minutes they would again make so much noise playing. Haha. I wish by then, my wife can suddenly come to me and say, ‘can we go Sandakan tomorrow just for a few days?.’ My answer to her is, ‘yes’.  Of course before this 10-15 years wish, I wish I can bring my parents for holidays in countries they have never been. I think I can do this once my baby daughter is able to walk and perhaps understand more of what we say, instead of now, we have to understand what she is crying about. 🙂   I wish by then, I can still continue my career but at a pace which I want and thus giving more quality instead of just plain quantity. Seems far? Everything starts with a dream.

Thank you for reading.

written on 18 Jan 2014

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Career ‘safety’, career growth and the investment actions to take

Salary may not be the sole desirability.
A close friend confided in me that she felt left out in the organisation. She felt that she is doing a lot for the company but the recognitions are not forthcoming and many times, no one could see her contribution. So, she said she is thinking of leaving her company. This friend is very good at what she does. She has an accreditation for a special skill which is internationally recognized. In fact she receives job offers occasionally. How many of us face this situation today? The feeling that we are not appreciated enough? If you noticed though, my friend is not complaining about low pay.
Money is very important to her
but that part is okay. She has enough property investments to last her for a while if she really do resign without a new job offer.

Career growth not always necessary.
 I am not sure if my company would feel that it’s a loss if I were to leave. I know my Head of Department would feel so but these days, I have begun to understand that as the organization grows, it will change. There has been many new hiring for positions that pays a lot and these are positions that I do not qualify, not now and not likely in future too. Yes, I have received a couple of offers but I still think a stable 9 to 5 job fits me just fine. I already have one wife and two lovely kids who needs my attention too. I believe as long as I continue to put in
lots of effort in doing what I am doing,

I think my job is safe. I was speaking with a few HR professionals who’s already not that young. All have families and they shared that career growth is taking a backseat when compared to worklife-balance. I agree. Career growth no longer compulsory.

Property investment thoughts.
 In the mean time, where
investments are concerned, I will continue to ‘flip’.’

Haha. I mean if the property I bought could really earn me enough down-payments for 2 (even if they are the cheaper ones), I would take advantage of the window of opportunity. One prominent property expert said that the slowdown in price has started and it will last for many years. Another said that the recovery should start middle 2018. Both could be right, depending on the type of property that they are targeting. With the number of new affordable homes coming out, let’s forget about prices doubling in a few years like the 2008 – 2012 period. With the slowdown in business growth, don’t hope that your luxury condo will suddenly jump in price. Maintaining the same price of 3 years ago would be considered a bonus, in my opinion.

I told my close friend that perhaps just LET IT GO. Perhaps not to think so much and just accept it as it is. Going confrontational is not her style and it’s not likely to yield much results too. In the mean time, she could focus on things that she like, for example a vacation. She did not reject my opinion but she did not support it too. I think her goal and mine may be slightly different. All the best to both of us in forging our own career paths. Both of us are 40 this year. We are from the best Chinese Zodiac; SNAKE. 😛

Written on 7 May 2017

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Be careful with property investment today

“Prudence is a key accounting principle which makes sure that assets and income are not overstated and liabilities and expenses are not understated.” I learnt this in my first few lessons on Financial Accounting during my Pre-University days. I do not think this is a principle practised by every company these days, especially when expansion in revenue is always followed by even higher costs and most of the time, losses. Since I am not a CEO of any online start-up, let’s talk about prudence as a key principle in property investments today. Do note that the concept of prudence and the concept of not doing anything are two totally different things altogether.

Be wary, bad times are here.

 If we intend to buy many units and quickly sell it off when we get the keys, think again. The number of transactions has been falling for many quarters. The
average price has just recently dropped
 which meant that the market is indeed extremely negative, in terms of sentiment. Demand is now fully restrained by everyone who continues to say negative things about everything. If I am a first-time buyer today, as soon as I have spoken to three different people, I would most probably decide to
WAIT and SEE
 instead of view, compare and buy (primary) or view, negotiate and buy (secondary).

Be savvy, bad times may also be the best times.
 Okay, perhaps the sheer number of friends from the real estate industry which has publicly stated their wish to be Uber driver can be another good sign for bad times too. So, is this the sign to step out of the market or jump in. Neither actually. It simply meant that before we sign on any dotted lines, we need to make sure what we buy is really worth what we pay for. Just a few years ago, say 2010, nearly anything and everything we bought would have given us great returns.

Be safe, compare seriously.

Today, it is much more important to understand what we are buying. Compare it to all the property prices within the same area and neighbouring areas. A rebate from the developer cannot save us when the property we bought today is
still much higher priced
 than everything nearby. By the way, is it really necessary to pay a huge premium for a LRT / MRT station 500 metres away versus another development about 10 minutes away but 15% lower priced? No right or wrong. There are markets for both. Former means you target people who opt for convenience. Latter means you are looking at affordability.

Be warned about the world economy.

 It remains extremely fragile. Google for ‘financial crisis’ for some readings. Then google for ‘property bubble’ for some readings as well. We may note that the countries mentioned in those articles include the big and developed ones as well and not just the emerging markets like Malaysia. This is not the time to over-leverage or to take more risks than necessary. Of course, if we did not buy anything and nothing really happens within the next 5 years, then we may have lost one cycle of opportunity.

On a longer term basis, when we look at the overall cost of doing business, the demand from a young population, the continuous urbanisation as well as a growing economy, the property prices has just one way to go; up. it will not be a straight line and this is the reason why whatever we invest in, we must always be prudent. Minimise
unnecessary risks
 by understanding a little more about what we are investing in. By the way, any fast returns being promised today, it’s better to step away. I already have a few friends who bought into some properties in a faraway land which is now potentially a pyramid scheme. I just hope they could get back their money. Happy investing.

written on 7 July 2016

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Cars are cheaper. How much cheaper? Do you need one?

Unless you did not read your Whatsapp or logged on to Facebook, you should know that cars will become cheaper because the government has decided to waive 100% of the sales tax on completely knocked down vehicles and 50% for the completely built up (CBU) vehicles. Both these vehicles have a 10 percent sales tax currently. The waiver will be from middle of June until end of December 2020. In other words, if you seriously need a car, now may be a great time to get one and at the same time, get enough discount for a cuti-cuti Malaysia. New car and holiday, same price. Why not?

Article in nst.com.my
  The Economic Recovery Plan’s incentives for the automotive sector will lower prices of new vehicles by three to eight per cent, said analysts. Analysts also said that prices of entry-level locally-assembled passenger vehicles, particularly Proton and Perodua, would be more attractive for buyers.

AmInvestment Bank Bhd analyst Jeremie Yap Jake Hui expects an extra 60,000 units in total industry volume (TIV) to 580,000 units for 2020 because of the incentives. Yap compared this to the previous tax holiday for SST and said, “Taking our cue from this and also having considered the softer economic condition at present compared to 2018, we forecast incremental sales of 10,000 per month over the next six months.” Please do refer to full article here:
Article in nst.com.my

if you are eyeing a RM100,000 car, the price could be cheaper by RM3,000 or up to RM8,000 as per the analysts estimation. If it’s only a RM50,000 car, then one can save between RM1,500 to RM4,000. Will this cause the whole market to jump in and buy cars? One word, unlikely. However, what this will do is to make those needing a car make their decision faster so that they could enjoy this savings. For this group of people, they do need the car. It’s not a want.

Would there be people who just love cars more than properties? Definitely there are. For this group of people, even if there were no discount of 3% to 8%, they will still be buying a car and not a property. In other words, nothing has changed, just that now they could pay less for that car they wanted to buy. In other words, for the property market, nothing has changed because this was never a group for property anyway.

As for the rest who just needed a car but is okay to accept a second hand car instead, then rest assured that with new car prices getting cheaper, it will definitely affect the second hand car prices too. This is like the fact that if a new smartphone is released, the old model is likely to be cheaper. This is the same for property too. If all new properties are sold at a lower price, then it will also influence the selling price in the secondary market too. Do you really need a new car then?

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Carsome’s HQ gets flexibility with Colony

I have written about this many times and I will say again. Working from home cannot be the norm for businesses intending to expand. One does not meet / discuss / negotiate with a VIP customer in a case or the lobby of the condo and certainly not inside the condo! If one continues to want to work from home, just remember to ensure one is ready to look for a job when the company enforced working from office in the future.

It has happened all over the world where working from office is back to norm, not the other way round. Here is one such example between a super fast growing start-up and a co-working space in Malaysia.

Article in edgeprop.my
    Colony Space Asia Sdn Bhd has signed a six-year co-working space deal with integrated car e-commerce platform Carsome, involving 41,860 sqft of office space across four floors of KYM Tower in Mutiara Damansara.

The office space to house Carsome’s expanded headquarters will be built and managed by Colony. Colony said that in addition to this deal, it has also provided Carsome with an option to further increase its workspace by 33% during the six-year period of the deal. Do read the full article here:
Article in edgeprop.my

Growing fast also meant flexibility is needed

If your company is growing very fast, it may not be that easy to keep up with this growth in manpower when it comes to office space. Hiring more people meant that office space has to be expanded too. Should you buy an office and then having to decide whether to move to a bigger space 12-18 months later? Let’s not even start talking about inconveniences of moving, lost of items etc.

Alternatively, does one take up those rental of 1 or 2 years and then be forced to find another place to rent 12-18 months later if the owner suddenly found a better tenant who is willing to pay higher? Well, perhaps taking up space in a co-working space can provide that flexibility even as the company continues to grow. Let’s see if there are more of such news to validate this flexibility arrangement between companies and co-working spaces.

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RM1 million cash for bitcoins but robbed instead

1 Bitcoin is currently priced at RM26,887.04 (As per google.com as at 12th April 2018). Image right beside. When my friend first told me about it, it was only at around RM4,000. It’s considered the most popular cryptocurrency even if there are now never ending new ones popping up. A few of the more famous ones?  Bitcoin, Ethereum, Ripple and Litecoin. Personally, I do not own any cryptocurrencies. However, I think of blockchain technology as a game-changer in the near future. Perhaps even for property investments.  Think about the possibility of owning a piece of a property for investment or even for co-stay! Proptech has started to become a hotter topic these days. Coming back to the fever for Bitcoin.

Reported in TheStar
“Malaysian robbed of over RM1mil in cash when he met bogus Bitcoin seller and broker”
 was a Malaysian man, Pang who had with him $365,000 (RM1.08 million) with the intention of buying Bitcoins. The source of the money was unknown. He wanted to buy Bitcoin and contacted a Singaporean broker. This Singaporean broker brought him to meet a man who claimed to have Bitcoin to sell and another man who passed himself off as a broker. What happened next was that the two men assaulted the Malaysian and his broker and made away with the large sum of money. This robbery was reported to the police on the same day and the two suspects were later arrested. One of the robber Mohd Abdul Rahman was also earlier charged with housebreaking and theft by night for another incident on March 7 this year in a home in Chuan Park. The Singaporean police said that they were also investigating the origins of Pang’s money, which he carried in cash. The police advised the public to exercise discretion when dealing with strangers, and to avoid carrying large amounts of cash.
Full article here.

It would take me avery long time to have RM1 million cash from just working full-time. Maybe we can learn from this young man how he gained his first RM1 million cash in the first place. As for meeting with strangers who claim to be experts or even brokers, it’s much more logical to meet in some public places. Last but not least, many times when the returns are just way too lucrative, we should be aware that scams continue to happen everyday, everywhere, even in Singapore. Well, if anyone really wants to understand about bitcoins, can always browse
ringgitohringgit.com This is an expert
 who will not be out to scam you. Happy weekend ahead.

written on 14 April 2018

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Cash Flow vs Capital Appreciation

I have lunch with this friend nicknamed K.K. every week. This is one smart guy who is already driving a fancier car than me and talks about property day in and day out. Recently, he just got another home loan approval for a landed property in Klang. Yes, banks are still approving loan applications for those who qualify. His sharing for all investors as below.

– start –

I believe everyone has their own investment mantra. Some may be thinking of extra cash every month from our rental incomes? Some aiming high to get a good capital appreciation in the longer term. The best person to understand how we should invest is our own self. We are the best person to assess our own financial capabilities. Question is what do you want to achieve?

Landed properties.
 Generally landed properties yield a better appreciation than high rise but I do noticed some condos actually appreciated almost the same percentage as landed over the same period of time. Do our homework. View the homes, check the surrounding, understand who are the potential tenant market. Even landed properties may still give potential positive yield though this is most likely not the case. It’s not the norm but for me, it happened. A good study and analysis will always increase your chances to find one. Landed usually fetch lower rental and the rate are not too far from a single to double storey.

High rise.
I’m not an expert on high rise but I guess everyone who read this article already know that rental yield are usually better than landed and positive cash flow can be our motivation. In fact nothing beats owning many high-riseunits with positive rental yields! Having said that, while the appreciation can be lower than landed, it doesn’t matter because end of the day we can always evaluate our own financial and determine what’s best for us. I always have lunch with someone who buys only high-rise. Some of his units have appreciated considerably too.

Choosing one.
If you have strong holding power and aim for long term capital appreciation, landed will be a good choice for you. On the other hand, if you wish to get extra rental income from positive cash flow, perhaps high rise is your game plan.

My current goal.
At the point of writing this article, I do not have any high rise unit and all my landed properties are rented at negative cash flow but the capital appreciation was reasonably good. What’s next? I planned to buy some mid cost apartment for some positive rental yield to balance my portfolio 🙂 Thats all for now and I would love to share with you my experience with my first high-rise, once I have signed the papers.

K.K.

– end –

contributed on 11 July 2016

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Casino in Iskandar, rumour yet again….?

Until today, there are still rumours that a casino would be built in Iskandar. This is despite the fact that the Johor MB said ‘negative’. Let me be honest, even if there’s a casino in Iskandar, I would still visit the ones in Singapore first. Maybe because at this point in time, there’s not a lot to visit in Iskandar yet as compared to Singapore. Maybe because I have not been to Singapore for over a year. However, if there’s a casino in Iskandar, would I support? Answer is Yes. I believe firmly in new development. Yes, it’s true that casino is not a good thing as it encourages gambling but be reminded, illegal gambling is many times much bigger than legalised gambling and the governments on both sides gained nothing from illegal gambling.

Casino is not the end but a catalyst. With visitors, more shops can open. With more shops, more opportunities will be available. All these meant an incremental effect to the whole economic growth of the whole area. International tourists would increase too, especially Singaporeans who actually can’t visit the ones in Singapore. Come on, get real. By not visiting the legalised casinos, who wants to tell me that NO Singaporeans gamble and NO Singaporeans ever bet money on football matches amongst friends. If you think so, great. I love your view even if it is far from the truths.

Casino means more taxes and more developments. Everyone wanted more public facilities. Everyone wanted more parks. Everyone wanted it FREE. Unfortunately, until today no scientists has yet discovered how to grow money on trees. With more taxes, IF it is is used correctly, it helps to make the roads better, increase the lightings and thus reduced the potential for crime, more free parks with more facilities and thus much more quality time for families during weekends instead of just departmental stores all the time. This is certainly good for the society.

Yes, many would say casino is root of all evils. Money is also root of all evils. I do not agree and I always think PEOPLE, yes, you and me, we are the roots of all evil. Anyone and everyone should be following a set of rules, regulations and laws. This applies also to casinos. That was why Singapore allowed it to be built and yet does not allow its citizens to visit. This can also be implemented easily by following Singapore’s example. This meant that there’s already a role model on doing this right from the beginning. If you can’t visit or you should not visit, then PLEASE do not visit no matter whether there are regulations or not. I think those has been to casinos would know my meaning. I am not talking about Malaysians or Singaporeans. 🙂

Unfortunately I do not yet own any property in Iskandar. Hopefully in the near future, whether there’s a new casino or not.

written on 10 May 2014

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Casinos blooming, next destination: Tokyo, Japan.

Just like Singapore, casinos are not regarded highly by the Japanese government, previously. The Singaporean government does not like the casinos in Singapore to cause social problems in Singapore. However, they know that integrated resorts (IRs), with casinos will mean economic growth. It would mean the whole family can travel to Singapore and the father may want to try his luck while the other members of the family goes for Universal Studio or all the kiddy rides. It would also mean that going to Singapore would no longer just for the year end fireworks or the Singapore Sale. The huge crowd visiting F1 in Singapore can now have another attraction and may extend their stay there. Everything points to MORE MONEY for the country.

Times are changing however. In a news reported in Forbes, Prime Minister Shinzo Abe’s government is creating a task force to jump start preparations for casinos in Japan. This task force will do its best to push through Integrated Resorts plans which is aimed at the 2020 Olympic SUmmer Games in Tokyo. In fact, gaming companies has said that they are ready to spend US$5 Billion to builld these integrated resorts. According to an estimate of the annual gaming revenue, it hovers around $40 Billion for IRs in Tokyo, Osaka plus up to 10 smaller ones in other areas. This is as much as Macau last year and six times bigger than Las Vegas or Singapore. Japan has an extensive gambling culture which includes the world’s highest racing handle, plus pachinko, Japan’s unique pinball and slot machine hybrid that had estimated revenue of $36 billion last year. Model to follow? Singapore’s.

Personally, I love travelling and Japan is my number one country outside Malaysia. However, for me to travel to Japan to enter its casino, I think it is highly likely for one time. After that, I do not foresee myself travelling there just for its casino. Perhaps that is because I am not much of a gambler. My gambling these days consists of one time RM200 either BIG or SMALL and in the last one in Genting, I won. Nevertheless, with Japan’s current economy which is not really growing, anything exciting is always welcomed. There’s a reason why the Singaporean government finally decided to start IRs. For Japan, the reason might just be the same and the even the model of Singapore can be adopted. Would it affect property prices? Tokyo prices are already extremely high. Perhaps it will help the hotel industry somewhat.

written on 5 Sept 2014

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Catalyst for Suiwah, Penang – Sunshine Tower

I seldom buy property stock. The reason being they are cyclical in nature and sometimes if you buy during the wrong cycle, the prices may take a long time to recover, if at all. Nevertheless, recently I read an interesting news about a new property developer. This is Suiwah, which owns all the Sunshine chain of supermarkets. When I first arrived in Penang 16 years ago, Sunshine supermarkets were all not up to what I would term as a good supermarket. Nevertheless, with competition from Tesco and even Jusco, it has forced Sunshine to refurbish majority of all their stores and thus these days, shopping in Sunshine supermarket is much more comfortable, brighter lighting and better layout. Even the flooring has improved tremendously. Even the leaflet looks modern!

It’s stock recently rose to a two-week high of RM2.51 early Wednesday. Reason was due to its upcoming Sunshine Tower project (mixed development comprising a retail podium, a hotel, a SOHO block and a serviced apartment block) which will be built on a nine-acre commercial land in Air Itam, Penang. Public Invest Research was upbeat on Suiwah and said that it expects the project to provide healthy recurring rental income upon its completion. Due to Suiwah’s small market capitalisation of just RM137 million, with the project, Suiwah is valued at RM274 million or RM4.78 which is still conservative in their opinion.

However, the report did not state the actual date for the completion of the project. If the project can only complete fully in 3 years time, would you buy now? If you buy now, would you be speculating that the price would continue to go up until it reaches what Public Invest Research is targeting? Barring any unforeseen circumstances, the typical completion time for such a project would be 3 years, thus if they start this year, it would complete in 2017. The report also does not state what is the recurring income that it is expecting. I seldom buy property related stocks because of the cyclical nature as well as the many unanswered questions. However, if I wait until everything is cleared, I may think the share price is too expensive. To buy or not to buy. My decision as at now is, not to buy the stock but the SOHO to be built? That may just be a different story. We shall see.

written on 28 March 2014.

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Not the best time to delay potential catalysts further.

I will not say too much about many other infrastructure projects. For this article, I shall mention just one; High Speed Rail KL – SG (HSR). This is NOT a project where the ticket sales will cover the cost of construction in 12 months or even 24 months or even 36 months! If this is how you look at things, then MRT Singapore would not have been built. Changi International Airport too and so is KLIA, KLIA2 and more. HSR is a catalytic project which will ensure both Malaysia and Singapore continue to grow by leveraging on one another. Just in case, anyone missed, BOTH countries added up together is probably only 40 million plus people.

This total population number is still small even among ASEAN nations, okay? Indonesia is 264 million strong. Thailand is 70 million strong. Need more? Vietnam is close to 100 million. The Philippines is 105 million strong. A very small example how a closer integration will bring benefits? Foreign MNCs could choose to set up a R&D centre in Singapore and have it connected to a strong operations centre in Kuala Lumpur. Both sides benefit. Today, some MNCs may be tempted to be based in SG but worry about the total cost of operations. Some MNCs may be tempted to be based in KL, yet may face some very critical R&D people who is used to be based in SG for many years… More examples but read on and understand why I do worry if some of these catalytic projects are going to be delayed further.

Article in themalaysianreserve.com
  OCBC Bank economist Wellian Wiranto said big projects such as the Kuala Lumpur (KL)-Singapore high-speed rail (HSR) project which was undecided previously may now be a casualty as the focus may be on pressing administrative issues. He said, “There is also the potential fiscal consideration to think about. Given the slower growth outlook, keeping the deficit at a controlled level as a proportion of GDP would be even harder now than before.”

Fitch Solutions says the country’s infrastructure development plans could once again be impacted, depending on the political developments in the coming days and weeks. It said in a statement, “The current situation, in our opinion, does not bode well for short-term growth prospects of the overall construction industry, as once again, investors, especially those of foreign origin, will likely put a hold to investment plans and wait out for more clarity on the political situation in the country.”
Article in themalaysianreserve.com

I do hope whatever these analysts say will not be coming true. Perhaps the new ministers who will be appointed will be able to speed things up then? I know, many say it’s not over yet and that 9th March 2020 may just see another potential change. My opinion stays the same yeah. I said NEW MINISTERS appointed in the near future. So, whoever that may be, please take this up and help Malaysia maintain its competitiveness. Happy following all the news but still remember to give time to your loved ones.

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Catalysts for Malaysia property market. Lots more on the way. Cheers.

Stop looking at an area as a popular or not a popular one. This is especially when it comes to Greater Kuala Lumpur. The growth in population is driving the demand for properties further away and well, KLCC is already out of reach for many. It is better to look at what’s the potential and whether it’s okay to buy now, stay there and then enjoy those appreciation when the catalysts become clearer. Petronas Twin Towers was a catalyst. The LRT was a catalyst. The many new expressways were also catalysts. Moving forward, there will certainly be more.

This is a very comprehensive overview of all the potential catalysts in Malaysia at a glance.
Do read it at theedgemarkets.com here.
I have only listed down some of those I particularly love as below:

Belt & Road initiative by China.
This is an initiative to connect Asia, Africa and Europe via land trade routes throughout central Asia. ECRL is part of this. (Please remember to be part of anything which the ‘surely biggest economy’ has in plan okay. This is not the time to be so exclusive…)

MRT 3.  Yes, The Circle Line.
 Foo of CBRE|WTW says that MRT3 may facilitate overall integration of the various rail systems, which were not planned and developed by a single authority. Without integration, the existing connectivity in Kuala Lumpur is less than 50% effective. (fully agree!! By the way, it’s not the cost that we should look at when deciding okay. It’s the potential catalysts…)

West Coast Expressway (WCE).
 This links Taiping in Perak all the way to Banting in Selangor. I am from Perak and now staying in Selangor, of course I am happy! However, what this will really do is to boost economic development as it will help the logistics and supply chain management.

Tun Razak Exchange (TRX).
Stop thinking of who started it or whatever. Please understand that this will become Kuala Lumpur International Financial District. When more financial entities are competing within the same area, everyone gets better and more will actually come.

Bandar Malaysia.
The address is Kuala Lumpur and it’s less than 10km away from the city centre. I think we do not need to debate too much about the potential FDI which will be coming in as well as the availability of more homes for people who hates staying too far away from the city centre. It’s GDV is RM140 billion…

Iskandar Malaysia.
 It has a next door neighbour called Singapore. Its neighbour meanwhile needs to help its SMEs to grow and its SMEs cannot grow if all they do is just having very small shops / factories within Singapore. Basically, it’s a win-win for both sides, really. Total cumulated committed investments have reached RM320 billion as at June 2019. This is a very comprehensive overview of all the potential catalysts in Malaysia at a glance.
Do read it at theedgemarkets.com here.

Yes, property investment remains a sound investment for a very long time to come, just like any other investment types which is rooted on continuous growth in the economy. If you do not understand what you are investing in, then it’s not an investment. It’s just a gamble. I hope everyone will be lucky with all the decisions they may or they may prefer to invest into something which is easier to understand instead. Cheers.

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Company is losing money, noted. Just don’t cut my housing allowances.

If you are the new CEO of a losing money company, what would you do if your company is ‘bleeding’ money because of high operational costs? Naturally, you will start to cut your operational costs. Hopefully you are also paid lower than the previous CEO who would have been asked to go earlier for causing the company to lose money. Usually, if the company is overstaffed versus the sales revenue, then the
first to go would be the excess manpower.

Sad news of course but if not done properly then whole company collapses and no one has a job too. What happens when the company is now lean? Then, the company starts to get mean as well. Any allowances which has been given over the past many years, during all the good years would have to be reduced too. It is not an easy decision and it is even harder to implement.

This is where we come to understand who is more powerful. The company or the talents that they may lose.
( Are you one of these special talents? )
 Especially if the talents are scarce in the market and many companies are waiting to grab them. A very good example? Experienced pilots. There are MANY new pilots and there has been news of pilots without work but experience comes only with years of flying. That is the reason these highly experienced pilots are paid highly. Cathay Pacific Airways was looking to cut the housing allowances of their pilots but has since extended the payment of housing allowances.
The full news article in TheStar here.
 Perhaps the pilots (especially the best among the rest) were saved by the timing for now.  It is holiday travel period and because the head hunters representing rivals are waiting by to poach any available ones. (Let’s be savvy to the fact that Cathay Pacific is loss-making and it has to undertake a transformation programme so that it can be competitive. It is aiming to save HK$4 billion in 3 years. In other words, it could delay but cannot not do it.)
Full article here.

Within the article, the most important thing we should note would be this.
 “Recruiters from Chinese airlines have flocked to Hong Kong to try and poach Cathay pilots. Many are expatriate Australians, Americans and Britons who were concerned that they could be priced out of living in one of the world’s most expensive cities.”
  It says that these expatriate pilots are concerned that they could be priced out of the world’s most expensive cities. It was also quoted within the article that the housing allowances for the most senior pilots could be worth up to HK$100,000 (RM52,000) per month. Assuming the more common pilots receive just HK$50,000 (RM26,000), this is still a very high number.

With ever more newer competitors,

prices will be key. It is not about matching the competition’s prices but it is all about value. Perhaps prices could be  10-20 percent higher and people would still buy but what if the prices are 4-5 times higher? Happy flying.

written on 12 Dec 2017

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The cause of property prices up is Bank Negara.

Speculators have been blamed for property price increases. Property buyers’ clubs have also been blamed for property price increases. In fact, greedy developers have also been blamed. This is because they are seen to be earning high profits from every project they do. For not doing enough, both the federal government and the state governments have also been blamed. Well, according to Real Estate and Housing Developer’s Association (Rehda) Malaysia, one major reason for property prices increasing was because of Bank Negara Malaysia.

Reported in an English daily today, Rehda Malaysia President, Datuk Seri Fateh Iskandar Mohamed Mansor said that this was due to the tougher credit checks on potential home buyers and lending curbs. This has distorted the market and has caused many property developers to delay their property launches, especially the affordable ones. Due to this, it has caused the slowing supply of new affordable homes and this has put pressure on prices
thus pushing prices up
. Major reason was said to be he high rejection rate of housing loan applications. Thus, he urged Bank Negara to rethink this policy to help those who are buying their first home.

Personally for those who have been reading some of my comments, I favour a stricter control of the property market. The number of affordable homes must be encouraged but I seriously think the cooling measures implemented has actually helped the property market from bursting. Do you still remember what was the increase in prices from 2009 to 2012? The price increase was CRAZY! There was no way salaries could have kept up. Of course, before this sudden interest in the property market, Malaysia’s properties were way too undervalued even when compared to the region. Thus, there was this one time adjustment but if BNM did not clamp down on the speculators, I dare not think what would have been the consequences today.

Yes, help must be given to the first time home owners. However, first time home owners must also be very realistic about what they can afford. Unless one happen to be a top performer commanding higher pay than everyone else, one must just be realistic. Buy smaller, buy further, buy lesser convenient places or whatever. Focus on owning a roof over the head. Not on whether others would look down on you if you are not staying in a condo etc. I remember when I bought my first 700sf apartment in a secondary area called Relau, some of my friends asked, why buy in Relau? Why not Gelugor, Greenland or even Tanjung Bungah. Why not they give me their money so that I can buy what they asked me to buy?

Sorry REHDA, I do not agree with lowering of standards. At the same time, I think these buyers better be more objective. Or else, in the end the one who would lose most would be them. For developers, they would just delay or change their plans. Not many would face continuous losses. Just look at what the developers are building nowadays and you would get my meaning. If they (developers) can change their ways, why not you? Happy shouting at BNM or waiting and waiting.

written on 26 May 2015

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Press Release by CB Land for The Greens @ Subang West

Press Release by CB Land (wholly-own subsidiary of Crest Builder Holdings Berhad).

THE GREENS @ SUBANG WEST LAUNCHES “TWO-RIFFIC BONANZA” LUCKY DRAW CAMPAIGN

CB Land Sdn Bhd (“CB Land” or the “Company”), a wholly-own subsidiary of Crest Builder Holdings Berhad (”Crest Builder” or “the Group”) today, launched its “Two-Riffic Bonanza” Lucky Draw Campaign (“Two-Riffic Bonanza” or the “campaign”) at The Greens @ Subang West (“The Greens”) sales gallery.

The Two-Riffic Bonanza campaign is a gesture of appreciation from Crest Builder for their customers’ support for past developments and their continuous support for future developments. The campaign was launched in conjunction to increase public awareness toward Crest Builder’s newly launched project – The Greens. The Greens is a Freehold residential development comprising of 646 units of condominiums developed on a 7-acre land with a total gross development value of RM400 million.  The condominiums are available in 8 different types of layouts from 3 bedrooms, terrace units and penthouse with built-up ranging from 915 square feet to 1,830 square feet. Prices start from RM568,800 upwards and the expected completion date for the development is June 2018.

The development emphasizes on healthy living and is fitted with over 45 facilities spanning over a 120,000 square feet park which including a Half Basketball Court, Indoor and Outdoor Gymnasium, Reflexology Walkway, Yoga Deck, Infinity Lap Pool, BBQ Terrace, Social Lounge, Cycling Track, Sauna Room and many more. The development also comes with multi-tier security system to create a safe and secure living environment. Two-Riffic Bonanza was officially launched by Crest Builder Group Managing Director Mr. Eric Yong with the revealing of the campaign’s grand prize, a Honda Jazz.  Two-Riffic Bonanza kicked off its 4-month long campaign, ending on the 17 April 2017, with a weekend filled Japanese themed event -Ohayo @ the Greens. From the 13th – 15th January 2017, The Greens will be hosting an array of Japanese activities such as Fukuwarai, Sumo Bowling, Sushi Making Workshop, Arts & Crafts, F&B food stalls and many more.

During the Two-Riffic Bonanza, buyers will take part in a lucky draw and stand a chance to win a Honda Jazz and other prizes such as Macbook and iPad. In addition to the main prizes, buyers are also eligible for monthly lucky draw consisting of iPhone 7, mysterious prizes and cash vouchers.

— End of PR —

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CBRE-WTW: Another 19,000 new units coming into Iskandar Malaysia

Before everyone gets overwhelmed with debates talking about 700,000 new units coming up in Iskandar, let’s look at it based on a yearly perspective, shall we? I read an interesting article entitled, ‘Both good and bad news for Iskandar Malaysia in
property-report.com.
 According to CBRE-WTW Director Tan Ka Leong, the existing supply in Iskandar Malaysia stood at 43,898 in 2016. It grew 16 percent from 2015. (Yes, double digit growth is indeed high) Typical population growth without any catalysts are nowhere near even half of the growth in terms of new high-rise units. How many are coming soon? CBRE-WTW said that for high-rise residential there would be an incoming supply of 19,000 new units into the market in 2017.  In other words, this will contribute to the oversupply of high-rise units which may take five to six years to clear.

Due to the oversupply, the potential property price adjustments could be as much as 30 percent for these high-rise units. (Please always NOTE that property price adjustments would always be based on an average number and thus may not paint the right picture for all developers or projects. Some would definitely far better than the rest.  In fact the oversupply of the high-rise apartments may eventually reach 30,000 units. He then shared a different scenario for landed homes. Tan shared that there were a 5-10 percent downward adjustment in landed home prices last year. However, Tan said ‘the worst is over’ for this segment. There should be no further downward adjustments for the landed homes for 2017. CRBE-WTW also shared,
“The overall soft market is the result of the general economic conditions and cooling measures.”

Yes, it’s clear that the catalyst that we are waiting for was not reported, yet. I would hope for
Rail Transit System (RTS).

I would hope for more news about new manufacturing plants being planned within Iskandar too. Ease of connectivity is vital if we are talking about Iskandar growing faster. To ensure more people are working within Iskandar instead of Singapore, we need more high-valued new manufacturing plants which will provide employment opportunities. One thing on Iskandar’s side is the fact that the Singaporean economy is slowing down and the unemployment rate has gone up. Overall, only 2.2 percent (Malaysia’s 3.3 percent and the U.S is nearly 5 percent). If the prediction of price correction comes true, it should increase the attractiveness of such properties, especially those with full facilities. Happy following.

written on 28 Jan 2017

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Invitation to celebrate Mid Autumn @ Bandar Rimbayu on 7th Oct (Sat) 2017

The following is a press release for Mid Autumn celebration invitation by IJM Land. See you there yeah. I will drop by too.

— start —

IJM LAND’S MID AUTUMN CELEBRATION

Bandar Rimbayu celebrates the Mooncake Festival with an Asian theme.

A celebration of the harvest under a full moon, the Mid Autumn Festival is known for lighted lanterns, mooncakes and a chance to spend time and family and friends. This year, IJM Land Bandar Rimbayu is all set to host homeowners and the public with Asian themed festivities on 7 October 2017.

To be held at their show gallery The ARC, the celebration from 6pm to 9pm is all about discovering how our Asian neighbours from Japan, Korea, China and Vietnam celebrate the Mid Autumn Festival. Open to property owners of Bandar Rimbayu and the public, visitors will be able to discover how the festival is celebrated in each country at its designated stall, with interesting information and fun games to play at each spot.

There will be plenty of activities for all those visiting the gallery on the day. Bandar Rimbayu’s 30ft x 10ft lighted Dragon lantern is a must-see, a perfect fit with the colourful lights around The ARC. 200 lanterns to be given away to children, who will also have the chance to participate in a leisurely lantern parade procession, enjoy a special BBQ and catch fish at the fish pond. Adults in the crowd can try their hand at games, dress up in costumes and write messages of love on their floating lanterns before releasing them into the pond.

Just like past celebrations at The ARC, there will plenty of delicious Malaysian food for all visitors, and a variety of mooncakes to mark the festival. An evening of lights, lantern and love between family, friends and the Bandar Rimbayu community, the Mid Autumn Festival celebration is not to be missed!

-End-

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Cement price increasing by 20-50%? Well…

Home prices usually move upwards unless of course the owners are selling below the price they bought for whatever reasons there may be.
It may even go up because of coffee prices! Well… (click to read)
 . Anyway, there’s also the input costs which include salary for construction workers and the cement price. The latter is a significant portion yeah because every home will be using a lot. (not to mention wastages etc) Somewhere online, there were alleged news about a cement price hike of about 20% to 50%.
WOW, salary increments expected to be 5% or thereabouts (read here)
but the cement prices are doing up by up to 50%? How true is this by the way and who spread it?

Article in edgeprop.my here.
  Minister of Domestic Trade and Consumer Affairs Datuk Seri Saifuddin Nasution Ismail inspections have been conducted after complaints from the Johor Master Builders Association (JMBA).

He said, “Responding to the complaint, the Ministry’s Enforcement Division has started its inspections since Feb 3, 2020, by visiting the complainants, factories and issued the Notice 21 provided under the Price Control and Anti-Profiteering Act 2011 (AKHAP 2011) to relevant industry players to provide the information required by the ministry. From the response of Notice 21 AKHAP 2011 on the four major cement manufacturers, it was found that there was no price increase at the cement manufacturing stage.”

The four main cement manufacturers are Slag Cement (Southern) Sdn Bhd, Lafarge Cement Sdn Bhd, Holcim (Malaysia) Sdn Bhd and YTL Perak Hanjoong Simen Sdn Bhd. In fact, if comparisons were made to 2017, it seems that there was a decline in prices and costs for cement at the manufacturing level. He said the Ministry’s enforcement division will provide a detailed report after a thorough investigation has been conducted at the market level. Please do refer to the full
Article in edgeprop.my here.

Okay, the ministry has cleared the four cement manufacturers. Perhaps it’s time to wait for the conclusion of the investigations into the market then. Remember yeah, cement is under Price Control and the cement manufacturers cannot increase prices just because they want to increase prices. This was what Saifuddin said last year when there were also rumours of a cement price increase, “This, he said, was because cement price is controlled by the government, and action can be taken against those found to increase prices without government approval, under the
Control Of Supplies Act.” (article in thestar.com.my here)

It seems that if property prices are to be rising, it will not be due to the cement price yeah. It may be because the buyer somehow must buy into that area but there were limited number of available units, thus higher demand versus supply will meant prices go up instead. By the way, the below will show the latest price movements based on Malaysian House Price Index. Click to view it
at housingwatch.my (A BNM website)

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Centralized Labour Quarters (CLQ). I think this is a great idea.

I have not rented out any of my properties to foreign workers. No expats too as I do not own any such luxury units which they may prefer.

Thus far, all my tenants are Malaysians regardless of race. Most are professionals such as lawyers, doctors, engineers, managers and more. I only have one property which is catering to short-term rental and this is mostly tourists as that small apartment is in Cameron Highlands. However, I do think that moving forward, we really do need centralised labour quarters (CLQs). What is this CLQ? Here’s what Knight Frank is saying about purpose built workers accommodation and moving forward, it will become CLQ.

Article in nst.com.my
  Knight Frank Malaysia has recently released Workers’ Dormitories publication and says that  demand for quality and well-planned workers’ accommodations is expected to rise.

Allan Sim, executive director of capital markets – industrial at Knight Frank Malaysia, said purpose build workers’ accommodation will become a new asset class and the majority of such existing establishments are concentrated in high economic growth regions such as Selangor, Johor, and Penang.

Sim says that currently many employers are turning to terraced homes, apartments, shophouses, and makeshift accommodations to house their workers haphazardly.

He said, “In addition to a lack of awareness and accountability, most of these types of housing were overcrowded and had poor sanitation, resulting in a slew of social issues that have plagued the community for years. The perception of higher costs and non-standard guidelines in various states has also resulted in years of resistance from industry players to provide dedicated workers’ accommodations.” Do read the full article with a lot more insights here.
Article in nst.com.my

Header Image by
Hans Braxmeier
 from
Pixabay

Situation cannot remain the same, please

We just cannot continue to house 20 foreign workers within one apartment of 900 sq ft with 20 beds or more and one shared kitchen and perhaps 2 shared toilets. I have also heard of 40-50 beds in terrace homes too. Covid-19 has proven to us that this kind of accommodation meant that the virus can spread easily and super fast too. Plus, it’s impossible to be able to control this spread easily when we have thousands of such accommodation all over the city.

However, if we do have CLQs, this will mean that things are much more predictable. We are able to also contain any sudden outbreaks such as Covid-19. Just need to look to Singapore and we must learn from what has happened and how despite such a high number of infections in the beginning, everything was still under control as it was well contained. Hopefully this starts happening sooner than later.

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CEO Forum 2014 – Some good notes to take note of.

In the 6th CEO Forum 2014 in Malaysia organised by the Perdana Leadership Foundation, following was presented which I think is true and more needs to be done continuously.

1) If the income gap continues to grow in the country, it may cause the reforms to stop suddenly. This is demonstrated by the record high levels of household debts. What is worrying is that public discontent in the forms of potential street protests are high.

2) As per figures from Economic Planning Unit (EPU), the income growth has only been enjoyed by the top 20% of earners in the country while the remaining has remained almost the same. The reduction in subsidies continues to add pressure on this group of 80% whose income has stagnated.

3) Perhaps a national social net should be set up. Reason is because we have lots of assistance for the farmers, the BR1M, price controls, subsidies for health, universities already. Why not group it altogether and offer it to the 70% of Malaysians who does not earn more than RM5,000 in income?

4) Household debt is at 87% of Gross Domestic Product (GDP) and half belongs to households that earn a monthly income of RM5,000 or less. This meant that over RM400 Billion is owned by Malaysians who have little or no savings though this is partially offset by government’s subsidies. BR1M and so on.

5) Malaysia’s national debt is at 54.6% of GDP and ranked on the same level as Pakistan as having the second highest debt-to-GDP amongst 13 emerging Asian markets as per Bloomberg.

6) Fitch ratings agency also rated Malaysia’s sovereign debt at ‘Negative’ and Malaysia’s long-term foreign currency sovereign debt at A minus which is the LAST rung of the UPPER-MEDIUM GRADE ratings.

Before you think that with these bad news, it is doom for Malaysia, I think not at this moment. First of all, the reason why these statistics are available for public consumption is because the numbers continue to reflect what is happening and there’s not a lot which can be hidden. In terms of the top 20% and the bottom 80%, this income disparity is a problem in every country in the world, including even Singapore, UK, US and more. You can just google ‘income disparity USA’ or ‘income disparity Singapore’ and you would understand that this is a continuous work in progress. First step is acknowledging such a problem exists.

Household debt is a very important number and if we look at this, a huge chunk of it is due to the housing sector. At this point in time, my personal belief is that it is not a RED ALERT zone. Yellow Zone (Warning) perhaps. Reason is because 84% of all mortgages in Malaysia are for just one property. This has slowed since 2012, transactions has slowed down, prices in secondary has not risen like the primary ones and these days new launches are also more palatable compared to 2013 prices which was already crazily high.

In terms of ratings, please read carefully and note that even at the worst ratings, Malaysia’s long-term currency sovereign debt is at A-minus which is LAST rung of the ‘UPPER-MEDIUM’ grade ratings. Before this deteriorates to BB level, I would hold cash. Please refer to the full gradings by Fitch below.

If you think I am trying to tell you that there’s nothing to worry about, then you are WRONG. I am telling you that all these MUST be improved by the relevant authorities but to all the readers, it is very important that everyone also understand objectively what is truly happening. I have many friends who tells me that the situation in Malaysia is dire. Yet, they still buy new properties and still drive ever more expensive cars. If we do not know what is happening, it’s our fault. Today, information is available for almost free. You just need to continue to keep abreast with it and I think you should be better equipped than many GURUs in the market today. 🙂

written on 27th Sept 2014

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CEO’s views and all the potential demand.

I shared recently that it’s not all doom and gloom and COVID-19 is NOT going to bankrupt all offices. Companies are not going to allow all employees to work from home unless the circumstances force them to. The reason is simple, the cost of monitoring the effectiveness and efficiency will go up and come on… if the staff says their broadband is slow and thus they could do not perform to expectations, what would you do?

I know, I know, everyone is hardworking by nature and there’s little need to supervise. Just let the staffs be and they will perform and the company will perform and everyone will be happy with the potential bonuses and increments too… I have been involved in the recruitment industry long enough to tell you that working in an office is definitely needed for most roles and most companies. Period. Before you counter what I say, well here’s what the CEOs say.

See that first and foremost comment?  “Arrange for employees to work remotely.” This is their response to COVID-19. This also meant that these employees would need to be equipped enough to work remotely. The hardware, the software, the supporting teams, all these meant that the demand for these will continue to happen after COVID-19 because many companies would not want to be caught in such a situation again. Having staffs unable work at all and still having to pay them full salaries? WOW….

So to me, the GDP growth is most likely to be negative this year as our MCO has been extended
till end April. Here’s that latest forecast.
 However, the stimulus package has been released pretty fast and this should be enough to sustain the most vulnerable group for a while. The demand for goods and services post-MCO is likely to continue. If we need a home because the baby is arriving, we will need a home. If we need a haircut because we are scared to allow our wife to cut our hair, we will still need a haircut. Perhaps the timing may be an issue but demand continues. Please stay at home. You are a front-liner just like me. Thank you.

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Challenging 2015 but more affordable offerings and rise of mainland

My good friend Ken Lim of
penangpropertytalk.com
 recently wrote an article which helped to summarise Penang’s property market for 2015 and the property outlook for 2016 within one article. I think this is worth sharing because majority of all my readers may not be well versed with the Penang property market. Actually, Penang may not be a huge property market but due to its strategic size, location and even the latest
Penang Transport Master Plan (PTMP)
, it’s with a look. This is especially for those looking to diversify beyond buying just one market his far.

A summary of his article as follows: (You can also read the full article here:
Penang Property Outlook 2016

Overall basis, 2015 was a challenging year indeed. Residential properties in terms of transactions dropped every quarter since 2013.

Residential market is considered cool. The reasons are similar, the strict cooling measures, tighter credit environment, the sluggish rental market and the less than stellar economic factors meant the appetite to buy disappeared.

2015 was a good year for first-time home buyers. Plenty of affordable housing were launched even if it starts from RM200k onwards. To those who secured a unit, the first batch of these would be ready by 2018.

Market is slow but prices remain resilient and for some types of residential properties such as condo, 2-3 storey terrace & semi-D, the price is still increasing.

Property market outlook in 2016 is expected to be similar to that in 2015. No signs of cooling measures being eased or a better economic situation. The expectations are however for a recovery beginning Q3/Q4 2016.

Based on
penangpropertytalk’s
 own stats, upcoming mid-size condominiums located in the north-east District of Penang Island have invited the most attention. The top three places these visitors are coming from would be Penang, Kuala Lumpur and Selangor.

There are more affordable housing but the loan accessibility has been a hindrance. Banks are more stringent in their assessment for the power income group as well.

Even more affordable housing are coming within 2016. This would have to be supported by easy credit.

Mainland is getting hotter. In fact property prices have been increasing over the past few years and the prices currently even for landed properties have started to reach the ‘unaffordable’ level now.

Penangites love landed. Read here:

Landed in Penang? Be prepared with lots of money
 This meant that for the landed in prime locations, prices would continue to flourish. Even landed in the mainland is a target. For example, EcoWorld has achieved 80% take-up rate for their 2-storey terrace houses in Eco Meadows.

Some recommendation based on budget within Penang would include the following: Affordable schemes located in Georgetown, Gelugor and Bayan Mutiara. For those with slightly higher budget, try condominiums by SP Setia at Jelutong, and Queens Waterfront Residences by Ideal Property Group at Bayan Bay.

Penang Design Village in mainland will be ready towards the end of 2016 for shoppers. Vertu Resort Condominium by Aspen Group at Batu Kawan would also be another upcoming one.

Last but not least, he gave a piece of advice which is real and direct.
“Plan realistically, know your affordability and buy within your means.”
To those who wants to read his whole article with additional charts, please refer here:
Penang Property Outlook 2016.
Happy thinking about Penang, whether it’s island or mainland. My personal preference remains to be island for now.

written on 6 Jan 2016

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Not an easy time for the Malaysia property market

It’s not something new. Come on, how many of our friends would tell us all the good news about the current Malaysian economy or even property market? I have none currently, except those involved in the industry itself. It’s tough and an acquaintance from India (top management of a global MNC) said that all the UBER drivers who drove him in recent weeks were once full-time employees but are now UBER drivers. Is the
Malaysian economy really so bad or what
? The answer is no but let’s not debate about it. So, assuming the economy is bad, what should happen to the property market?

Well, according to
AllianceDBS Research in an article in thestar.com.my
, two things are challenging for the property market. They include weak affordability and low supply of affordably priced properties. In brief, people could NOT afford and there are NOT many supply of affordably priced properties. Besides that, public housing supply is also increasing and it will increase the competition within the affordable segment. It believes that the current macro-prudential measures have reined in
excessive speculation

in the property sector.

It also said something worth noting. As at end July 2016, there was 10 percent growth in outstanding loans for residential properties. In other words, credit access remains open even if there are higher rejection rates. With the government being focused on first-time homebuyers, the upcoming Budget 2017 would definitely be continuing to focus on
increasing the supply of affordable public housing
 (priced less than RM400,000) to boost homeownership. Developers would have to do more in terms of product offering. For example, ‘value-buy’ properties with some lifestyle amenities that will differentiate themselves from the lower priced public housing.

Since the public housing is increasing in huge numbers, this is good news to the first-time home buyers, provided that they are
willing to get one in the first place.
 What happens when the supply is increased suddenly? Of course, property prices may stay stagnant for some time, especially for developments which are seen as only slightly different from the public housing being offered. Is this a bad thing? Well, do we really want prices to keep going up much faster than our incomes? I personally would love a stable property market so that my investments are safe for the long term. What about you?

written on 27 Sept 2016

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Challenging times after moratorium ends end September?

First of all, I disagree that moratorium extension after 30th September should be for all just like the first round moratorium which was automatic for all and for 6 months unless one opts out of it. Any politician asking for it is NOT savvy to the fact the banks are not charitable organisations and has shareholders who are also Malaysians as well. Yes, I am both a borrower and shareholder of one particular bank in Malaysia. A super small stake but hey, still a shareholder okay.

Secondly, it has already been announced earlier that moratorium extension would be on a case by cases basis and this latest announcement is basically a formal confirmation that this is now targeted versus a blanket one. This was what Prime Minister Tan Sri Muhyiddin Yassin announced.

Article in nst.com.my
  Muhyiddin announced a three-month extension of loan repayment moratorium for those who lost their jobs this year due to the pandemic and had yet to secure employment. Bank Negara Malaysia (BNM) said a more targeted approach for moratorium extension to assist those affected by Covid-19 would ensure that financial resources and attention were prioritised.

BNM said, “Banks will offer flexibility for at least six months. Banks will also consider extending the flexibility at the end of that period, bearing in mind the salary of the borrower at that time.” BNM also said that banks were committed to providing repayment flexibility to other individuals and all SME borrowers affected by Covid-19. To obtain the flexibilities, borrowers need to apply directly to their banks from Aug 7. Please do refer to the full article here.
Article in nst.com.my

Briefly, if someone needs it because they really need it, please proceed to apply directly to the banks starting from 7th August. By the way, everyone should also note that the banks themselves have no benefit in forcing the  borrower into default status because even if they were to take back the property and to auction off the properties, it does not necessarily mean that the property price will be higher than the loan they provided.

In other words, they (the banks) may lose money if they refuse to help the concerned borrowers who just needed some time to get back on their feet and restart paying their loans later on. Besides this will also increase their non-performing loan number and it does not look good for them as well yeah. As for the many who has started working and have back their salaries but some of these have been invested into the stock market, then it’s time to get ready to start paying come October.

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After the CHANGE, do we also CHANGE ourselves?

CHANGE is a popular word currently. 🙂  We only want the other side to change for the better? Are we also changing ourselves for the better? Our current same thing day in and day out job into a career? growing up the corporate ladder by gaining more experience? Experience which could only be gained if we keep offering to do more than what we are doing today? Savings into investing? Without a continuous disciplined savings, it’s hard to do anything at all, even when opportunities arrive. For example, your neighbour wanting to sell his home for 20 percent less because he was transferred to somewhere else? Gaming into Learning? Hours after hours of gaming everyday where we skip reading, attending talks and learning from the experts? Perhaps just these three things that we can start changing in 2018?

5 years down the road, it may look something like these? Career: You have just been promoted to be a manager or a senior manager and now earns an income

in the T20 range.

While this is certainly welcoming, it does not change a single thing if the
 expenses continued to explode with the higher income.
So, what could we do then? Well, assuming for the past 5 years we have really been saving (This meant income far higher than spending), then it’s time to think about investing. Maybe into a property, who knows? This may just be the beginning of a
long-term journey of capital appreciation yeah.

Need not be into property yeah. if we bought shares of a good listed company, we would still be rich in the future. Well, when we concentrate a lot of our time into turning our jobs into careers and keep reading and learning, I do not think we have a lot of time to play never ending games on our smartphones or gaming notebooks. By the way, there is nothing wrong with many hours of gaming every WEEK. However, when the gaming is MANY hours EVERYDAY, stop telling me it’s relaxation yeah…

Before everyone forgets, regardless of who wins the election, if what we do (our job) is worth a salary of RM2,000 it will still be worth RM2,000 after the election yeah. If our

employers treat us badly before the election and we keep complaining about them
,

after the election, they will still treat us badly and we will still be complaining about them everyday. The top real estate negotiator meanwhile would still be a top real estate negotiator because the person works very hard. Usually, in the beginning it will be even super duper hard! A good company producing a world-class product and exporting to the world will still be exporting to the world while a company producing sub-standard products will close down regardless of the result.  We can go on but hope everyone gets the picture. Change may be inevitable but we better also change ourselves in the process too.  CHANGE starts from within. It does not start from only changing the world.

Cheers.

written on 10 April 2018

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Change or be changed. Not just the banks but us too.

I brought my family to the pasar malam (night market) in Setia Alam last weekend. It was indeed longer than even the Taman Connaught one. After 2 hours of stopping, buying, viewing, eating and drinking, we did not finish walking till the end. We did NOT pay money throughout the night.
BOOST

was there and what surprised me was that at least 50 percent of all the stalls in the night market were having ‘Boost’ sign on their stall. I bought gifts for my daughter and son using my phone. My wife bought two ice-creams for my family using my phone. I bought a smartphone car charger plug using my smartphone! Okay, it was all through
Boost
. It was RM8 free for all new sign-ups and just for the night market, RM1 is equal to RM5. In other words, if I were to buy RM5 worth of stuff, I needed to pay only RM1 for the night! So, RM2 in Boost is equal to RM10 at the stall. While I have no idea how much Boost needed to spend on this marketing campaign but I can safely say that more than half of everyone was buying stuffs WITHOUT cash. A close friend told me that it was so hard to use her cash in China. It was e-wallet all the way! So, is this the future? Looking at China, I think so even if this is not yet the case in many advanced countries around the world.

Coming back to Malaysia, our traditional banks. Bank Negara Malaysia Governor Tan Sri Muhammad Ibrahim gave a subtle warning to financial institutions in Malaysia days ago. He said that financial institutions must be aware of the innovations that will continue to penetrate the traditional markets which has been served for a long time by the banks. He said, “Using the disguise of being tied by regulations is not a valid excuse.” He said this during the his keynote address “Public policy perspective – Some thoughts and contemplations from a central banker,”at the 40th Harvard Business School Alumni Club Malaysia anniversary dinner last Friday.
Full article in TheStar online here.
He added,

“We have raised this many times, that the central bank will not hinder innovations in the banking system including those by non-banking institutions. So beware. Those bankers who are complacent and meek might experience the rug being pulled from underneath them.” He further elaborated, “Solutions that not only deliver better experience for consumers, but that better align the responsibilities that we all carry as responsible citizens, to lift people out of poverty, provide fellow Malaysians a decent living standard, eliminate discrimination and protect our environment.”
Full article in TheStar online here.

I personally think it is not just the banks which should take note but most Malaysians should as well. When we look around the world today, the pace of technology is quite scary. Do you know that chatbots are already able to handle most basic customer service conversations a few years ago? Robots will replace a lot of the manual jobs that we are doing today. This is an
article in CNN giving us such a warning.
 Are we STILL doing the same thing everyday? Actually, the most important thing would still be, are we investing in ourselves? Keep ourselves updated and keep upgrading our knowledge and skills? Are we following what many in the advanced countries are doing? For example, investing in a property since it’s almost a certainty that it’s a better hedge than just keeping cash under the pillow? The environment may not change overnight but no one knows when is the tipping point. Be prepared! Happy preparing.

written on 11 Feb 2018

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Important legal changes to Strata Laws

I browse one property portal occasionally. This is especially when I wanted to take a look at some latest transacted prices. If you do wish to check out some latest transacted prices, do take a look here.
www.propertypricetag.com
 Recently, they published an informational article I think worth reading for everyone who is looking for a high-rise unit or current live in one. The below is a summarised Q&A they did with Geraldine from Teoh Pek Wei Advocates & Solicitors. I like two of the changes as it gives more protection to the owners of these units from nightmares that we may have faced previously. take a look at below or for the full article, do refer
here
.

4. Presumption of Defect

You know the situation where the bathroom in the unit upstairs is leaking into your ceiling and nobody wants to be responsible for it? This common problem is known as an “inter-floor leakage”.

The supplementing regulations to the new Strata Laws — the Strata Management (Maintenance and Management) Regulations 2015 — make it easier to determine who is responsible to fix the problem and how long they have to do it.

Firstly, you must give a notice to whoever is in charge of managing your property — the Joint Management Body (JMB), MC or SMC — of the inter-floor leakage. The management would have seven days to carry out an inspection to determine the cause of the leakage and the party responsible for rectifying it.

(Under the new Strata laws, it is presumed that there is a defect in the unit or common area above, unless proven otherwise, and this has to be taken into account by the management bodies)

If the property is still within the defect liability period, the developer may be responsible. If it is due to a common area, the owner may claim from the Common Property Defects Account.

After the defect liability period, if the leakage is found to be from the unit above, the owner of that unit is responsible to make the repairs. If he or she refuses to do so, the management body may fix it and have a right to recover all cost and expenses from the party responsible for the inter-floor leakage.

How does it affect you? Hopefully you won’t have to live with the drip, drip, drip longer than necessary anymore.

5. Increased sanctions on owners who fail to pay Maintenance Charges

Previously, the Joint Management Body (JMB) or MC could only file a civil suit against owners who fail to pay maintenance and service charges. Now, free-loading owners may have to face criminal charges and fines.

The JMB or MC would first issue a notice for payment, with at least a 2-week window for the errant owner to pay up. If the owner fails to do so and is convicted, he or she will be liable to a fine of up to RM5,000, or imprisoned for up to three years, or to both. And the fine meter continues running at up to RM50 per day after conviction, until payment is made.

How does it affect you? Don’t play play. Quickly pay!

As per propertypricetag, please note that the Q&A is only for general information purpose only.
* The information in this article is for general information purposes only and is not intended to be a substitute for legal advice. Propertypricetag.com and/or our solicitors accept no liability for any loss whatsoever arising from your reliance of the information in this article. If you have any questions regarding legal matters or legal issues, you are advised to obtain consultation and professional legal advice from a lawyer.

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Changi Airport as a good benchmark for Terminal 3, KLIA.

Someone forwarded me a property related news article about KLIA having started planning for Terminal 3. Well, let’s learn a little about KLIA versus the closest competing airport in the region, Changi. Reported in Channel News Asia, Changi airport welcomed 40.9 million passengers within the first 9 months of 2015. If we assume arrivals remain the same and annualise this, it will be around 55 million. Quite a huge number and this is one major reason why Changi airport is always bustling with people and there are now three terminals with Terminal 4 (T4) to be ready by 2017. There are already plans for Terminal 5 as well to be built on reclaimed land. What about our very own KLIA and KLIA2?

According to a passenger traffic snapshot by Malaysia Airports, the first 6 months of 2015 saw a total of over 24 million passengers passing by KLIA which meant that it’s very near to its full capacity of 25 million passengers. I think this is also the reason why more shops and retail outlets are now opened there. KLIA2 meanwhile handled 12.3 million for the first six month of 2015 and if we annualised it, KLIA2 will be handling nearly 25 million passengers for 2015. Total capacity for KLIA 2 is at 45 million. It can accommodate more budget airlines and I think this budget industry would continue to grow faster than the non-budget ones. Some estimates have said that KLIA 2 will be able to support passenger growth for the next 10-15 years.

Well, I seriously think Terminal 3 is still rather far away but of course, we should always plan ahead. Perhaps good to keep announcing so that everyone can keep commenting. As for today, in total, KLIA and KLIA 2 handles less passengers than Changi airport and this is hardly surprising since any airline coming into ASEAN will most probably choose Singapore first due to the connectivity. This is where the opportunity lies. China, India and Japan would be that few countries that we should somehow have more direct flights with. China and India for the size of their population and Japan for the huge senior population which would definitely be more at home in Malaysia plus golf versus many other nations. Happy flying.

written on 23 Nov 2015

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Changing government will not fix affordability issue IF

A very confident friend told me the other day that the POWER to CHANGE the government is firmly in our hands. We were talking about the property prices and he said that the new government must ensure property prices are affordable to Malaysians. Else, the new government can also be the ex-government too. Actually, he is not eligible for affordable homes anymore but I think he is hoping that if home prices are lower, he could buy a place which he likes but is currently too expensive for his liking. I just wanted to say that changing the government will not fix affordability issue IF…

#1 – If we are still spending unnecessarily. If we are still treating ourselves to expensive breakfasts, lunches and dinners. If we are still changing to the latest smartphone model because it has better cameras or even the latest handbag because the current one looks outdated…

#2 – If we are not spending our time wisely. How about stopping the Facebook browsing or YouTube watching and start reading books? A book a week is awesome, really because the ideas may inspire us to start something and even power our Entrepreneurship goal.

#3 – If we continue to think property prices for all areas will fall. The market has been slow in transaction numbers since 2013. It did not start this year. If there are areas which the demand far outstrips the supply, we can wait forever and the prices will still not be dropping anytime soon.
(Except if there’s a crisis perhaps…)

#4 – If we believe the government can control property prices. In Singapore, the government basically controls over 80 percent of the total supply of properties in the market. Yet, applying for a HDB unit will take more than 1 year even if one qualifies. As for buying from the market…
SGD1 million HDB flat?

Fortunately, this friend technically does not need much assistance from the government of the day, whoever that may be. However, his theory that the government can control property prices to make it affordable to all Malaysians is flawed. Remember the famous quote, “If it is to be, it is up to me?” It’s always true. Perhaps trying to earn a higher salary is much easier to make properties become affordable versus waiting or changing the government. Oh yeah, we can also
choose based on WHY instead of just location too.
Happy understanding.

written on 20 Dec 2018

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Changing strategies in an oversupply residential market?

A Maybank analyst said in a local daily report that Malaysian developers are now switching their strategies from all residential into landed and industrial properties. The reason is because the incoming supply of these new residential units would cause an oversupply situation by end of 2015/2016. For many years, the launches of residential high-rise in Iskandar was always ‘FULLY SOLD’ quickly but these days, the mention of Iskandar would get the response of, ‘sure or not? I thought bubble already?’ The analyst, Wong Wei Sum further pointed out that with this oversupply, the prices may decline for the next 2 – 5 years (medium term).  Oh yeah, the parts that is having oversupply include Danga Bay and Nusajaya-Medini. There are of course still areas where Johoreans are still looking to buy and for which the prices are still reasonable! Johoreans continue to prefer landed and these days, gated and guarded, just like locals from other cities.

Over a period of 2 years, many high profile developers from China has descended on Iskandar and with their huge capital have been buying up tracts of lands and building huge integrated projects, especially in number of units. They include the earliest, Country Garden Holdings Ltd and currently extremely aggressive Guangzhou R&F Properties Co. The latest one is Greenland Group. Every time I switched on TV when I was in Singapore for 6 times within the past 3 months, I could see Guangzhou R&F’s advertisements. When I go a few of my favourite malls, I have also seen their marketing team pushing their Princess Cove project. The reason is because just the launch of Phase 1 already consists of 3,224 residential units. I have never seen this kind of numbers by any Malaysian developers thus far.

I think its important for anyone who’s thinking to buy in Iskandar to also understand what’s really happening there. The truth is, there has never been such an attempt on such a large scale before Iskandar was launched. One thing that you should note is that negative reports have never stopped from the time Iskandar began till today. From ‘white elephant claim’ to ‘sure fail’ to ‘there is nothing there’ to ‘VEP will cause it to stop’ and more. There are some truths to these negative reports but as they say, risk vs return is a decision that only you yourself can make. I have not bought anything in Iskandar yet. However, I do look forward to buying one which meets my usual expectations, rental first, appreciation second. If there are none by the time I have my funds ready, will just switch to other markets. Investment is always a CALCULATED risk. If you don’t invest, it’s also a risk. Remember that.

written on 8 Oct 2014

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Charles is COVID+…  Stay positive yeah

Charles is COVID+… Stay positive yeah

Hey, how is everyone doing? A little overwhelmed with many things recently especially with my role and responsibilities in Toastmasters and also work. Ah, yes, need to explain that title to this article. Yes, I tested positive on Friday (26th August 2022). This article will forever be remembered for me I think.

How do I feel?

I feel okay, no fever, no sore throat, no non-stop coughing. Today is Sunday (28th August) and it’s now noon time. I have coughed a total of 3 times. Probably a cough every 2 hours? So, yes, I am lucky as many thought or is this the actual situation on the ground?

Actually majority of people who contracted Covid-19 never knew because it was asymtomatic. In other words, they did not know UNLESS somehow someone forced them to do a test. In other words, when people tested positive for COVID because they were not feeling well, these are the minority yeah.

I was testing for Covid because I just returned from the US and just wanted to ensure everything was okay for my family. I was in Nashville, Tennessee and the below are just a few highlight photos. It was a very good trip. I learnt a lot from the trainings and I met so many of my counterparts in other countries whom I only know from zoom previously. They were… more handsome, more elegant, more friendlier than when they were in the zoom. Haha.

Hey, it’s a welcome!

The night when everyone supposed to wear their national costumes

Trying to look suave in this photo. I stayed in
Gaylord Opryland Resort & Convention Center
. Around RM1,800 per night.

Our District representative got 3rd in the world for the International Public Speaking Contest, out of 30,000 contestants.

Here’s the full news article about my pride. (thesundaily)

On stage for the recognition of Distinguished District

My personal award

District top 3 officers with our Region Advisor

Photo with our International President. Yes, he is the gentleman in blue.

Get vaccinated yeah

The only reason I feel very confident though I am Covid+ is because I have been vaccinated. Period. Vaccination does NOT stop infections. However, vaccination STOPS Covid from doing any unnecessary harm to the body versus someone who’s not vaccinated.

I was the first batch of Malaysians who had zero issues in signing up for the AZ vaccines which people rejected because of ‘sxxxxxd’ rumours which somehow people believe despite AZ being administered to tens of millions of people in the UK before it even arrived in Malaysia.

From my story, whether AZ of my booster shot Pfizer has definitely ensured my body was able to defend itself well.

Be grateful with everything we have

I am super happy that beyond just Covid+, I was still able to be positive about everything.  kopiandproperty.com continued to be visited by many of you on a frequent basis too. Thank you for your kind support yeah. Will keep writing.

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