Strange, Special, Dangerous Houses?

Have you ever been to other countries and see some of the strange houses they have? Something it looks so special especially when out of the whole row, there’s only one of them. Somethimes it looks like it is about to fall and yet not fall as yet? I have been to the leaning tower of PISA and at the time it was leaning pretty bad. Recently, I heard after years of trying, they have stopped it from leaning further. I have also been to Venice where some of the houses are already below water level and it is expected that more of such houses will be below water level. Below are some of the strangest houses I have seen but I have not been to any of them. Enjoy.  Do share if you have any strange houses that you have seen.

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Strata unit owners? We get to pay compoundable offences faster!

This should be a good news to strata owners, the good ones. For the bad ones; the ones who does not bother to pay their maintenance fees on time, beware… For the developers who still have unsold units but does NOT bother to pay their contributions on time, beware… Now, there’s no need for a lengthy process via the courts. Today, it’s extremely efficient and the offences could be compounded by the Commissioner of Buildings (COB) under the Strata Management Act 2013 (Act 757) or its subsidiaries.

By the way, without sufficient maintenance fees, the maintenance of facilities will suffer and in the end, the property prices for that particular development will fall and this will affect all owners, including the good ones who pay on time. Without regular maintenance, the replacement cost will be extremely high. We need to ENSURE everyone pays on time so that everyone benefits, not just those who pay on time.

Article in themalaysianreserve.com
  The Housing and Local Government Ministry (KPKT) Deputy Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad said that the regulation to empower the Commissioner of Buildings (COB) to compound offences under the Strata Management Act 2013 (Act 757) began on May 2019.

The offences that are compoundable under Act 757 include developers’ failure to pay charges and contributions to unsold units; joint management bodies’ (JMBs) failure to dissolve the body and hand over to management corps (MCs); and parcel holders’ failure to comply with the notice demanding payment of the amount due within 14 days of the notice date.

Meanwhile, the offences compoundable under the Strata Management (Maintenance and Management) Regulations 2015 include JMBs/MCs/sub-MCs’ failure to provide proof of amount of money paid, failure to have the first general meeting, and management agents’ failure to submit bonds to COB.

However, seven offences which are not compoundable include offence of collecting any charges or contributions before opening the account; failure to comply with the award decided by the tribunal; and obstruct, host, detain, delay the COB or any authorised officer in his/her duty.   All the compounds are to be paid to the state government.  Do refer to the full article here.
Article in themalaysianreserve.com

I hope the COBs are effective and efficient. Any new Act will only work with fast and quick action. Else, very soon this will be forgotten and we will be back to the same as when the COBs do not have any authority to compound offences. Do share this news with all potential buyers, especially those buying for investment and thinking that they do not need to pay the maintenance fees until the day they sell the property. At that time, they just use their profit to cover for the unpaid maintenance fees. Happy complying yeah.

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Free maintenance charges may not be that free after all

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 by Tashatuvango

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Are you stressed? Need to go to a public park? Good news for you.

Are you stressed? Nowhere to go? Home is just too small? Well, besides buying a bigger property in the near future, you can also go to a public park? It’s now possible from tomorrow. Good news.. Yes, tomorrow, all the public parks will be reopened. 16th August 2021. That’s today. This was the full announcement earlier. Click here to read.
Phase 1 NRP – 11 Sectors Allowed to Reopen

Article in themalaysianreserve.com
 All public recreational parks in the states under Phase One of the National Recovery Plan (PPN) will be allowed to reopen for leisure activities to ensure the well-being of the people and reduce mental health stress, effective Aug 16.

Prime Minister Tan Sri Muhyiddin Yassin said, “The public is only allowed to visit public recreational parks in the neighbourhood. Do not travel interstate or interdistricts to go to other recreational parks.”

At the same time, he also reminded the local authorities (PBT) and related agencies to be responsible for monitoring the compliance of SOPs in the public recreational parks involved to ensure that they are implemented in accordance with the rules set to avoid any harm. Please do read the full article here:
Article in themalaysianreserve.com

Reminder – It’s not just going to any park you like

Please go only to the public parks nearby your neighbourhood. Else, expect a fine if caught. Secondly, please be reminded that even if we are fully vaccinated, there is still chance for infection even if much smaller versus the unvaccinated. Over 80% of all new infections are for the ones without vaccinations. However, it has been shown that full vaccinations protect against hospitalisation.

Still, be careful, follow the SOPs and do note that you like to exercise to stay healthy. You are not going to the park to have chit-chats with friends without social distancing and endangering everyone else. Thanks and happy exercising.

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Strong and productive labour force. That includes me too!

I do think I read a lot more about the world (including news about leaders from some advanced nations), business and everything else (including football too) when compared to someone who watches drama on the TV all the time. Unfortunately for me, I really do not have the luxury of time to sit down and binge watch. I did go to cinemas with my family to watch cartoons every now and then. Hope that counts?

Then after reading, I write a lot and many of my views, articles have appeared in many major media whether offline and online too. To all these media outlets, thanks for asking for my views yeah. So I do I think of myself as a strong and productive labour force here in Malaysia? I do! How about you? Do you also feel the same as me? Well, here’s an expert view from a chief economist and he’s not a Malaysian.

Article in malaymail.com
  Juwai IQI chief economist Shan Saeed said that the Malaysian economy has the resiliency to bounce back from the current situation because of its strong and productive labour force. He said, “While the movement control order (MCO) is being extended until May 12, the government is fully gearing up to bring investors’ confidence back to the country while maintaining growth and economic momentum, which is vital for the long-term outlook.”

With regards to the confidence of local and foreign investors, Chan said, “The good part is, once the Malaysian economy opens up and sectors start operating, we will see foreign direct investment coming back into the economy.”  He added, “Looking ahead, we maintain our 2020 gross domestic product growth forecast of between one and two per cent despite economic uncertainties.”  Please read the full article here:
Article in malaymail.com

ADAPTABILITY.  Actually, one key thing which will determine whether the workforce is strong and productive or not will be adaptability.  With the MCO, how soon could one change the business to continue operating via online. I have seen many and it includes convenience stores, food outlets and even the education sector!

How quickly can someone who organises events to change the event model into an online one. I have seen many launches now done online and has also been engaged for some of these events. So, instead of speaking for the customer in their on-site events, I am speaking for them in their online event.

Businesses which needed to get their staffs to work from home, how quickly have they been able to do this so that the disruption to the business is as low as possible? Truth is, the development of an app for mobile would still have to be on time because we are still in a mobile world today. These examples would tell us whether we have a strong and productive workforce. So far, I do think we are not doing too badly. Thank you to all the strong and productive Malaysian workforce. I think we have a change to rebound quickly after this.

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Fourth annual PropertyGuru Asia Property Awards (Malaysia) 2017

Strong contenders named for fourth annual PropertyGuru Asia Property Awards (Malaysia) 2017

Eighteen companies from Kuala Lumpur to Iskandar are vying for top honours at Malaysia’s most prestigious industry awards for real estate excellence

More than 20 awards will be presented at the forthcoming gala ceremony

Tropicana Corporation Berhad dominates the race with seven nominations

Pacific Star Development CEO Glen Chan selected as Real Estate Personality of the Year

KUALA LUMPUR, Malaysia – 27 July 2017

The fourth annual PropertyGuru Asia Property Awards (Malaysia), presented by Kohler, have revealed the official shortlist of nominees who are competing for honours in the country’s most prestigious real estate awards ceremony.

A total of 18 deserving developers made the cut with projects ranging from residential, commercial, mixed-use and green developments across the country, from Kuala Lumpur to Penang and Iskandar.

Leading this year’s race for the gold is Tropicana Corporation Berhad, a company known for its mixed retail, commercial and leisure developments. The Selangor-based firm collected a total of seven nominations, more than double the nods received by second placers UMLand and Bon Estates Sdn Bhd, which earned three spots in the shortlist each.

Among the nominated projects under leading nominee Tropicana’s umbrella include the master planned communities of Tropicana Aman and Tropicana Heights, both competing in the Best Housing Development (Kuala Lumpur) category, the integrated community Tropicana Metropark, and the themed urban garden, aptly named Tropicana Gardens.

Meanwhile, two of UMLand’s nominations are for special awards in Sustainable Development and Corporate Social Responsibility. The company is in a three-way tie in the same categories with Tropicana Corporation and the 2016 Best Developer winner Sime Darby Property.

Other companies that received double nominations in 2017 include Southkey City Sdn Bhd, LBS Bina Group Berhad, UDA Holdings Berhad, Mayland, and Ideal Property Group.

The final shortlist was determined, under the strict supervision of BDO Malaysia, from 40 eligible entries received by the independent judging panel, which is headed by incumbent chairman Prem Kumar, executive director of Jones Lang Wootton.

“The PropertyGuru Asia Property Awards (Malaysia) showcase a wonderful evolution of the industry from where we were 20 or 30 years ago, bringing recognition to the developers for a job well done,” said Kumar.

“The growth in the industry is extremely important and during a period such as now, when the property market may not be performing at its best, a lot rests on the shoulders of the developers, and of course, various other stakeholders to steer us and our country through the rough seas.”

All shortlisted finalists in Malaysia will be recognised either as Winner or Highly Commended during the gala dinner that will host around 300 key senior figures from real estate and related industries. This year’s event will once again be graced by Guest of Honour Yang Amat Mulia Tunku Seri Menanti Tunku Ali Redhauddin ibni Tuanku Muhriz, chairman of PropertyGuru Malaysia.

“It is our pleasure to announce the full shortlist of deserving nominees. Together these companies represent the best of the industry as selected by its leaders,” said PropertyGuru Malaysia country manager Sheldon Fernandez.

“In today’s challenging market conditions, Malaysian consumers can certainly rely on a trusted source of recommendations for outstanding real estate developments such as the PropertyGuru Asia Property Awards (Malaysia) to aid them in making confident property decisions.”

Aside from the completion categories, there will be a special presentation during the ceremony for the 2017 Malaysia Real Estate Personality of the Year winner Glen Chan, CEO and managing director of Pacific Star Development Ltd, who was chosen by the editors of PropertyGuru Property Report magazine for elevating the standards of mixed-use and leisure developments in the country. Chan spearheaded the award-winning Puteri Cove Residences project, which is set to be completed by year-end.

The highly anticipated black-tie awards gala evening takes places on Thursday, 17 August 2017, at the InterContinental Kuala Lumpur. It begins with an hour of cocktail reception, followed by the opening remarks, a four-course dinner, and the awards ceremony proper. More than 20 categories will be handed out during the three-hour long presentation.

The full shortlist of the PropertyGuru Asia Property Awards (Malaysia) 2017 is below:

DEVELOPER CATEGORY

Best Developer

WINNER will be revealed on 17 August 2017 during the gala dinner

Best Boutique Developer

Bon Estates Sdn Bhd

DEVELOPMENT CATEGORIES

Best Luxury Condo Development (Kuala Lumpur)

Dorsett Residences Bukit Bintang by Mayland

Tropicana Residences by Tropicana Corporation Berhad

Best High End Condo Development (Kuala Lumpur)

Anggun Residence by UDA Holdings Berhad

The Estate by Bon Estates Sdn Bhd

The Luxe by Infinitum by Macly

Best Housing Development (Kuala Lumpur)

Sierra 6 at 16 Sierra, Puchong South by IOI Properties

Tropicana Aman by Tropicana Corporation Berhad

Tropicana Heights by Tropicana Corporation Berhad

Best Condo Development (Penang)

City Residence by Ivory Properties Group Berhad

Queens Residences Q1 by Ideal Property Group

Best Condo Development (Iskandar)

Suasana Iskandar Malaysia by UMLand

Best Housing Development (Iskandar)

Aster 2 – Double Storey Semi-Detached House by UMLand Seri Austin

Best Mass Market Development (Landed)

Desiran Bayu by LBS Bina Group Berhad

Best Mass Market Development (Condo)

BSP21 by LBS Bina Group Berhad

Best Mixed Use Development

Legasi Kampong Bahru by UDA Holdings Berhad

Southkey Mosaic by Southkey City Sdn Bhd

Tropicana Metropark by Tropicana Corporation Berhad

DESIGN CATEGORIES

Best Condo Architectural Design

Isola@KLCC by O&C Resources Berhad

TTDI Segaris by Naza TTDI Sdn. Bhd.

Best Retail Architectural Design

Aman Central by Great Realty Sdn Bhd

S Cube Mall by Brunsfield Bhd (ERM Project Management Sdn Bhd)

Best Landscape Architectural Design

Hampton Damansara by Mayland

The Estate by Bon Estates Sdn Bhd

BEST OF THE BEST CATEGORIES

Best Condo Development (Malaysia)

WINNER will be revealed on 17 August 2017 during the gala dinner

Best Housing Development (Malaysia)

WINNER will be revealed on 17 August 2017 during the gala dinner

SPECIAL AWARDS CATEGORIES

Special Recognition in CSR

Ideal Property Group

Sime Darby Property Berhad

Tropicana Corporation Berhad

UMLand

Special Recognition in Sustainable Development

Sime Darby Property Berhad

Tropicana Corporation Berhad

UMLand

Best Universal Design Development

Gravit8 by Mitraland Group

Southkey Mosaic by Southkey City Sdn Bhd

Best Green Development

Tropicana Gardens by Tropicana Corporation Berhad

PUBLISHER’S CHOICE

Real Estate Personality of the Year

Glen Chan, CEO and Managing Director, Pacific Star Development Ltd

The fourth annual PropertyGuru Asia Property Awards (Malaysia) is supported by title sponsor Kohler; co-sponsor Regus; official portal partner PropertyGuru.com.my; official newspaper Malay Mail; official supplier Corner Stone; media partners PropertyGuru Property Report, Oxford Business Group, and Top 10 of Malaysia; and official supervisor BDO Malaysia.

A precursor to the awards night in Kuala Lumpur, the PropertyGuru Malaysia Real Estate Summit on 16 August at the InterContinental will gather more than 100 senior industry executives and decision makes, including more than 20 expert speakers, to talk about ‘shaping the future of Malaysian real estate’ at PropertyGuru’s C-level conference.

As always, main domestic winners in Malaysia will advance to the PropertyGuru Asia Property Awards Grand Final in Singapore this November to compete with peers from 16 other markets in regional categories to be named the ‘Best in Asia.’

For more information about the PropertyGuru Asia Property Awards (Malaysia), email
info@asiapropertyawards.com
 or visit the official website:
AsiaPropertyAwards.com/malaysia/

–END
–

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‘Stronger’ 2H expected, ahead of GST

What happens if kopiandproperty.com tells you that 2nd half of 2014 is going to be better than first half? Please read other news to see if it is true. However, if a top developer in Malaysia says so? Well, I think we can believe it slightly more. Mah Sing Group Bhd said that buying momentum is likely to be stronger as potential buyers are expected to buy before the GST implementation next year. This may be to hedge against the potential inflation once GST starts next year. Mah Sing said that house prices in Malaysia grew some 3% from 2001 to 2009, and subsequently 6.7% in 2010, 9.9% in 2011, 11.8% in 2012 and 11.6% in 2013. For this year, in the first quarter, prices went up 8%.

As usual, developers will always tell you that prices will only be going up and buyers will always tell you that they cannot afford. Let me tell you a story. My friend said that REITs are not good. The reason is because REITs typically gives a dividend of around 7%. She also said FD is the worst, it gives just 4% at max. GST is only rumoured to be 6%. Please do not tell me that you are buying a half million property because you are worried too much about the 6% GST? For those who are not buying because they feel that the prices would come down, you may get your chance if the properties you are waiting are those luxury ones. If it is the RM400,000 condominium, I have to wish you all the best. If it comes down, just like you, I would also buy.

Transactions has been slowing down since 2012 and not 2013. This slowing down of transaction was because of two things. It went up way too fast from 2009 – 2011 and the prices also doubled and in some instances tripled. However, be reminded that before it went up, the prices was considered very low by any world standard, since we always want to talk about world standard. The perception that the prices went up too much meant some are holding back. The sentiment is thus bearish. However, look at any statistics in terms of actual potential demand and you can see that not everyone wants to continue to rent. To be honest, my father in law would not even let me marry her daughter if I did not buy a property just before I married her.

Always remember Warren Buffett’s
classic rules
: “Be fearful when others are greedy, and be greedy when others are fearful.” No idea if it can be used for property market? Think about it.

written on 21 June 2014

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Can you retire with just RM900,000?

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Student accommodation, a profitable venture?

How much would a university student be willing to pay for a room? Well, for the parents for a first year student, they would be willing to pay a lot to have their children staying within a place managed by the university. It’s safer too. For these students, once they know the area well, they would move out and find BETTER accommodations, true? I would, for the freedom, flexibility and even choices. Secondly, not many would prefer the university to determine their house-mates for them. Different rooms, sure but during football nights, would you want to fight to watch different matches? Fortunately, there’s internet nowadays. The demand for these student accommodation has made a property investment based on these needs to be viable. What are some of the considerations of going into one?

Hassle-free way – One can always start with those with Guaranteed Rental Schemes. This is because these units are normally already tied to the university / college. It’s hassle free for a few years and most of the time, the renewal is possible but one must not expect the same rental prices forever. Capital appreciation is normally nil or low in the first few years for these guaranteed rental units.

More Effort, More Control – If one is looking to build this up, it may be better to scout for undervalued properties nearby to rent out to these students instead. Yes, the rental may only be on a yearly basis but this is worth it because due to the undervalued property price, we can also have better capital appreciation too. I would prefer high-rise but there are those who are more adventurous and prefers to get a landed and sub-divide the rooms further. I do not prefer this but go to SS14 / SS15 and you get an idea how people are doing this.

Distance Choices – Note that it does NOT need to be within walking distance even as long as there are ample car parks. Think objectively, are majority of the private university students nowadays WALKING to class or driving? Second question, are your targets those who drive or walk? Haha.

Maintenance issues – Undervalued is one thing. Bad maintenance is another altogether. No students would want to stay in a place where they feel uncomfortable or unsafe. Visit the actual place and understand the maintenance before continuing. Inspecting tips here:
12 tips on inspecting condos

The right university helps – Private universities which are considered higher end tend to attract richer students and with them potential higher rental capability. As usual, this would meant that the properties that you can buy around them tend to be higher priced too. Return on investment in % tend to be similar but in actual amount basis, these more premium ones would get a higher return.

One important point to note. While we could not predict unforeseen circumstances such as the university closing its doors, it is important to also buy objectively. It would be much safer to have potential students from a few tertiary institutions instead of just one with your condo serving only that one institution.

The number of foreign students coming to Malaysia for further studies are also on an uptrend. It is foolish for some politicians to say that Malaysia attracts only the second-rate international students because majority of Malaysians studying in overseas universities are definitely not in Ivy-League ones too. Look at the positives, not focus on the negatives. Besides, these foreign students are most of the time studying in some foreign university awarded qualifications too which meant that they may be getting a UK degree but paying in Ringgit instead. I think it is safe to note that attracting the middle income families who are sending their children for a degree conducted in English is certainly a huge and attractive market and this is likely to continue too. Thus far, I have rented out to students just once. It ended on a good note but I prefer a longer term rental if possible and thus perhaps student accommodation is not my main choice.

written on 19 Oct 2015

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Not to be missed! The Property Table Talk: Is Student Township a Future Proof Investment? (free TnG for first 50)

Not to be missed! The Property Table Talk: Is Student Township a Future Proof Investment? (Free TnG card for first 50)

I am not someone who talks about property investment as an evergreen investment and then stop investing when Covid is around. Just for the record, I purchased 4 properties during the last two years of Covid. They are NOT the ones where I own 1% or 2% yeah. Until today, kopiandproperty.com is not owned by any developer or media company or even having a negotiator license yeah. My comments and writings are as real as it gets I think. So, do you want to hear the latest from property updates from me?
Register here. Details below.

I will be speaking in an upcoming event.
“The Property Table Talk: Is Student Township a Future Proof Investment?.”

Date: 12th November 2022 (one week before the election…)

Time: 12pm to 330pm

Venue: Level 13, The One Academy
(Click here for the link)

Do not miss this yeah. I have not seen many kopiandproperty.com readers for a while now. See you!
Register here.

You will hear from three speakers and one of them is my big brother Adrian Un whom I learn a lot from everytime he speaks. So, I will also be sitting down and listening attentively when he speaks on 12th November.

In the mean time, read this informational article:  ABCs of Buying and Renting
 Out a Property (successfully!)

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Studio Units, SOHO, SOFO, SOVO, the difference?

A close friend asked me about a Studio Unit below 600sf for a below RM450,000 price. ‘Should she buy?’ I answered her that I do not like to buy SOHO, SOFO, SOVO or whatever acronym they may call the units because it is just not my type. At least one friend who bought these small units have earned a lot and thus I told my friend, she should just follow this common friend of ours and buy in this case. She wanted encouragement and thus she reminded me that the unit she is referring to is a STUDIO unit. In other words, it’s not the commercial type like SOHO, SOVO, SOFO or whatever. Let me answer briefly here. She is buying for investment, not for own stay. She is happily married.

First of all, these are all SMALL units, irregardless of whether they are residential or commercial. It would be suitable for a single, sure but not even a couple. Reason? They almost always come with one car park or none which meant that the couple better leave the home together and come home together. The cure? Nearby MRT stations. Yeah, convenience helps tremendously but these are still SMALL units. Personal preference, even if I stay alone, I would like a 700sf or larger unit. Sometimes, I just want my family members to come visit me and stay back and these are just not suitable. Yes, they may visit me just 2 times per year but I repeat, these are SMALL units.

When it is small unit, how much do you think the prices would shoot up? RM600,000? Search in any of the famous real estate sites and see what are some of the properties you can still buy for RM600,000. I am not sure if the buyer is prepared to pay RM600,000 for your unit. Maybe yes, then lucky you. Of course, as long as the economy is good, I think RM500,000 is very possible but sometimes when you really think objectively, half a million for a small unit? Demand is definitely possible but the market is likely to be smaller.

What about rental then? Surely it is easy to rent these units out. This, I agree totally. If I am single and I hate to do lots of housekeeping, a small unit is best. However, if I am a young single, how many of these young singles can afford to pay the type of rent that you need them to pay so that you can cover the mortgage for your small unit? RM1,200? RM1,600? Well, both these meant that you will suffer deficits every month. RM2,500? Now, this is a more realistic number but think realistically, how many can earn enough so that they can rent your unit for RM2,500? I have no answers and I have no intention to answer too.

Everyone must have their own preference. You may get very rich from investing in small units. I salute you. However, as a personal preference, I will still buy bigger units even if it has its own problems and limitations. Just a choice ok. If everyone buys just the same type, it would be so boring too right?

written on 22 Jan 2015

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Tips on ‘Good Location’ to buy.

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Sub-sale property transactions in Klang Valley is now at THREE YEAR high for Q1 2021

Press release:
PropertyGuru DataSense: Malaysia Property Transactions for Q1 2021 Dropped 44.7% YoY;

Sub-sale Properties Most In-Demand

Sub-sale transactions reached a three-year high in Klang Valley for Q1 2021
Remote working culture drives transactions in smaller townships; 54% homebuyers favoured spacious terrace houses
MyPropertyData rebrands as PropertyGuru DataSense and aims to
drive greater transparency, efficiency, integration for property
industry through data and insights.

Kuala Lumpur, 6 September 2021 –
 PropertyGuru DataSense, the data analytics and solutions arm of PropertyGuru, released the
Q1 Property Market Update
 report which features insights based on Malaysia’s residential property market transactions. The report found that the total number of residential property transactions in Q1 2021 saw a year-on-year (YoY) drop of 44.7%, compared to the same period last year.

Of the overall number of property transactions across Malaysia, a majority of 61.2% were found to be made by first-homebuyers (FHBs). In three of Malaysia’s major property markets – Klang Valley, Johor, and Penang, FHBs outnumbered purchases made by investors by 13.2%, 65.2% and 0.08% respectively.

Joe Hock THOR, Managing Director of PropertyGuru DataSense
 shared, “With increased worries over COVID-19 cases as well as a softer-than-expected GDP performance, it is no surprise that we observed a lower confidence in the market and a YoY dip in residential property transactions in Q1 this year. However, it is encouraging to note that incentives such as the My First Home Scheme and the Home Ownership Campaign have helped to drive first-homebuyers to take that step towards homeownership during this quarter.”

In November 2020, PropertyGuru Group acquired property data company MyProperty Data, advancing its mandate to serve Malaysians in their home ownership aspirations. Following the strategic acquisition, MyPropertyData is now rebranded as part of PropertyGuru DataSense. The
Q1 Property Market Update
 report is a part of PropertyGuru DataSense’s continued commitment to champion property data democratization in Malaysia following its rebranding exercise.

Sub-sale Units Outsold New Developments

Sub-sales were found to have dominated the market during this quarter, with many property owners selling their assets at competitive prices for liquidation, offering both FHBs and investors alike an opportunity to purchase them at below market value. This is especially prominent in the Klang Valley, which recorded a three-year high for sub-sale transactions at 83.72%.

For FHBs, buying on the secondary market means being able to get a quality home in a good location on a smaller budget. This is in line with findings from the
PropertyGuru H1 2021 Consumer Sentiment Study
, which found that of those who prefer sub-sale properties, majority cited the ability to scout the location and environment before buying (55%) and ease of managing the purchase with a smaller budget (39%) as the top reasons for their preference.

“Sub-sale property has typically appealed to more seasoned investors largely due to the ability to place a down payment on the unit, making it easier for an investor to invest in several properties. The secondary market also allows greater access to property, particularly landed units, in better locations. As land banks are used up, new developments often must settle for more remote locations which may take investors a longer time to see a return on the appreciation value,” said Joe.

Buyers Preferred Landed Property; Increased Transactions in Suburbs

With a large portion of the nation’s workforce working from home since the start of the pandemic, the type of properties that buyers are purchasing has also changed. This is reflected in the transaction data from Q1 2021, which found that homebuyers are favouring larger, more spacious units in the RM300,000 to RM500,000 price range. Buyers preferred landed units over high-rise in Q1 2021, with terrace houses making up 54% of transactions in Malaysia followed by condominiums/apartments (18%).

Joe continued, “Now that many employees no longer need to travel to the office every day, they can opt for areas further away with lower density and more spacious layouts that could comfortably fit an extra room for a home office. We observed that the desire for larger, more spacious property has resulted in a shift towards terrace houses as well as properties in the fringes of city centres, driving up transactions in smaller townships in Q1 2021. We believe this trend is likely to continue into the second half of 2021.”

Many among the top 10 projects with the greatest number of transactions this quarter are areas located away from city centres in self-contained townships such as Bukit Sentosa and Bandar Bukit Beruntung in Rawang, Bandar Putra in Kulai.

PropertyGuru DataSense Continues to Promote Greater Data Transparency Following Rebrand

PropertyGuru DataSense is focused on joining data with transparency, creating an integrated property ecosystem by becoming the provider of the most comprehensive property data and insights to agents, financial institutions, homebuyers, credit rating agencies, valuers, and property developers.

“Our goal is to empower Malaysians with accurate and easy access to data for every step of their property journey so that consumers can buy or sell property at the right market price and capitalise on potential gains in the future,” said Joe.

He added, “In addition to integrating the business under PropertyGuru, the rebrand also represents the Group’s commitment in further building and growing its data business through PropertyGuru DataSense. We recognize that data play a vital role in the growth of the property industry, and thus, we aim to continue providing property players and homebuyers with access to big data analytics and solutions to help them make informed investment and property decisions.”

Besides serving the Malaysian market segments, PropertyGuru DataSense’s solutions are also available to real estate agents in Singapore, providing real-time market insights and market price estimates to help them provide valued consultations to prospective buyers and sellers. It will continue to advance and expand its data offerings to other segments in Singapore in the near future, followed by the other markets in the region.

For more information, please visit
https://www.propertygurugroup.com/datasense
.

— end of press release —

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Subang Jaya will have its own urban forest by end 2016

When I visited my current home for the first time, my daughter ran around the garden happily. My wife told me that she liked the environment too. She could bring my daughter to the playground or the swimming pool safely too since it is within the condo. I agreed. We paid the deposit within the same evening and today, she brings both my daughter and my son to the park or the swimming pool everyday, as long as there’s no rain. Well, for landed property owners in Subang Jaya this will also be happening very soon. Subang Jaya Municipal Council  plans to unveil its first urban forest by the end of 2016. Ok, it’s not really a forest as in the typical forest but it’s definitely a great place for lots of activities for everyone staying nearby.

Reported in StarMetro, a new urban forest will be open to the public after the project is completed. It’s through turning USJ 3C along Persiaran Setia into a 3.18ha urban forest called Park of Hope. According to Town planning director Ismail Muhamad said this is a smart partnership between the council, FRIM and Green Tech, an organisation under the purview of the Energy, Green Technology and Water Ministry (KeTTHA). This piece of land is currently overgrown with bushes and poses a risk to nearby residents.

This urban forest will also be used for data collection. Educational tours would also be conducted for preschool children right up to students at university level. Universiti Putra Malaysia will help to design an educational module. The park would also facilitate the meeting point for people and increase social interaction between the residents. Among the facilities planned are a jogging and nature trail, bike tracks, playground, amphitheatre and reflexology path. There will be a park management office, security guards and allocated parking spaces.

To those who are thinking of Subang Jaya landed properties, this may be a great attraction to have within the area. In fact, for the high-rise without a proper park, I think this urban forest is great because now everyone can enjoy, for free. The only thing that I hope everyone would do is to ensure the park is property maintained. Malaysia actually does not lack these public spaces when compared to many countries. The only issue is always the maintenance, after a few years. Yes, would definitely bring my family for a visit even if it’s not really near me. Perhaps a picnic there while my daughter and son plays with one another. Happy with more parks.

written on 17 Mar 2016

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Subsidy is not all BAD. Give to needy, not everybody.

For those who have followed my articles, you would know that I do not believe in continuous subsidy. I believe in working harder, learning more and doing better year after year. Truth is, there would be a time when the subsidy has to be fully rationalised. Subsidy is not all bad. Just give to the needy, not everybody. We already know that there are 2 million Malaysian households who are living with RM3,000 or lower per month. The subsidy should be targeted at them. Of course I still do not believe that it should done forever. Concrete plans must be made to help these 2 million Malaysian households rise up and the number can then be reduced further.

Today, in a study entitled “Energy Subsidy Reform: Lessons and Implications”, the IMF revealed that the because the subsidy is across the board, the top 20% population gains six times more from the energy subsidy compared to the bottom 20 percent. This meant that inequality became worse. The irony is that the top 20% can actually afford to pay the usual energy price without subsidy while the bottom 20% just could not! How about spending that subsidy to help the bottom 20% instead? As usual however, the argument is always on how removing subsidy is bad for the poor etc but no one wanted to tackle the issues head on. In fact, majority of everybody I know especially the richer ones wanted subsidy to remain forever.

Many years ago, I told my mother that I have to pay more income tax. My mother said, ‘do you want to qualify to pay higher tax or do you want to continue to pay LOW TAX?.’ Always remember, the reason you are paying higher tax is because you are already better off than many and the fact is, 10% of a high pay is worth much more than 20% of a low pay. When your income is high, even an increment of just 5% would mean potentially the salary of an office boy per month! You want to live better but the poor income group just want to get by easier. Food on the table, not choose where to have dinner! In the long term, if the poor becomes even poorer than today, what do you think would happen to the country and society in general? My belief remain, subsidies are not all bad, as long as it is not across the board for everybody but targeted at the needy.

written on 9 Oct 2014

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Success comes when we skip over all excuses successfully

This is a friend who has changed his life in the corporate world (management team) to become an entrepreneur in the real estate world. Recently, he posted the below image which is super true. I wonder if this will be his next car. I have always thought he is BMW supporter. Or perhaps Volvo?

He said, “Life is short, make the most of it so that you won’t regret it. The decision and action you make today will determine your journey in life; success will come your way if you are persistent and consistent in doing daily things in life.”

As for all the excuses. They do hurt a bit for people who’s currently doing it.

Tired? Sleep earlier!   (why are you still browsing the FB?)

Overweight? Exercise more!  (not just eating less for a few meals and then go crazy when we could not ‘tahan..’

No Time?  Quit Watching TV!  (haha… drama binging….?)

Don’t have money?  Stop wasting it!  (wow!! RM5 for breakfast versus RM35 for a breakfast set in a cafe?)

Too complicated?  Start small and try! (dream big is true, just remember that it’s a journey..)

No knowledge and skill? Learn. (today… we have access to a lot more versus long time ago.)

Happy reading through the message.
If you like to get to know him more, this is his FB page.

Not easy at all to keep doing…

Indeed a powerful message and truth is, so hard to do! In November 2013, I started writing in kopiandproperty.com and nothing happened for the first 730 days until I was invited to give my first property talk. Then was invited to write an article for the newspaper and well the rest started to follow. 730 days equal to slightly over 1,000 articles BEFORE anything happened at all. No invitations to speak to 52 talks in 2019 over 9 states and Singapore too. From free talks to paid talks. From free reviews to paid reviews. From an unknown blogger to a judge for real estate awards. Today, kopiandproperty.com has over 10,000 followers and over 20,000 visits per month on average.

All the best everyone. If it is to be, it is up to me. Thank you Martin for this reminder.

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M+S. Successful start for Marina One and Duo.

Briefly, M+S is a jointly owned company by Khazanah Nasional and Temasek Holdings. They own 60 percent and 40 percent respectively.  This joint venture company was set up in 2011 by the sovereign wealth funds to develop land parcels in Marina South and Ophir-Rochor.  This was a land swap deal which ended a 20-year impasse over the Points of Agreement signed in 1990. The agreement was for three plots of former Malayan Railway land and three additional plots in Bukit Timah exchanged for four land parcels in Marina South and two parcels in Ophir-Rochor.
More details in a Malaysian Digest article here.
Total gross development value (GDV) for Marina One and Duo is S$11 billion (RM32.93 billion). Besides just these two, Temasek and Khazanah are also partners in the development of Afiniti Medini and Avira Medini with a strong focus on wellness and have a combined gross development value of some S$1 billion (RM2.99 billion)

It has been reported in many media that more than 70 percent of the office space at Marina One and Duo had been taken up before its official launch. The official launch by Prime Minister Najib Razak and Singapore’s Prime Minister Lee Hsien Loong was on the evening of 15 January 2018. Some of the companies who have taken up the space in Marina One include tech giant Facebook, ride-hailing company Grab and financial institutions like Bank Julius Baer, Prudential and Mitsubishi UFJ Financial Group (MUFG). Meanwhile, Duo’s 570,000 sq ft of Grade-A office space has Abbott Laboratories, Chevron and Mastercard as tenants. M+S Chairman Azman Yahya sais that M+S is already profitable. M+S CEO Kemmy Tan shared that Marina One, which spans 1.88 million sq ft of office space is the largest Grade-A office space in Asia.

Source:
http://www.duosingapore.com/duo-galleria.html

Beyond the office space, 80 percent of the Marina One’s 140,000 sq ft of retail space has been taken up. This is the same for Duo’s 60,000 sq ft of retail space. Most occupants are food and beverage establishments.
(If the food and beverage companies are presented with the fact that 70 percent of the office space are taken, I think it is easy for them to decide to quickly come in.)
Residential wise, close to 100 percent of 660 homes in Duo have been sold while for one of Marina One’s residential towers, 80 percent of 521 units have been sold. Please do read the
 article in PropertyHunter here.
 This is the full joint statement by the Prime Ministers of both countries.
It’s published in channelnewsasia.

It’s great to be friends because both countries are not that large, even if we add up the population for both countries. Furthermore, we are neighbouring nations too. Let’s hope for even more good news for High Speed Rail yeah. Happy following.

written on 16 Jan 2018

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Successfully reduced volatility, that’s most important.

A friend exclaimed the other day, ‘Did you know one of my friend who visited Thailand could not exchange his Ringgit because the moneychanger there did not want to accept Ringgit?’ I asked for more details but none were forthcoming. I asked who was his friend, when did it happen, which city in Thailand was it and what was the amount that his friend wanted to exchange. No answers. I think we do agree that volatility of ringgit is really a huge issue. Especially of interest is the fact that the cause is always ‘loss of confidence.’ I do not understand loss of confidence in what. GDP growth? Trade Surpluses? Corporate results in BURSA? (PE numbers) On all these accounts mentioned, Malaysia is better than that country which had a new President recently.

Perhaps it is the household debt vs GDP percentage? Well, if this is the case, please just say this is the case and then quickly start dumping another currency for which its property market is so hot and its household debt vs GDP is now 123 percent!! (Yes, the amount owed
 by the households is BIGGER than the GDP).
 Yes, this is about Bank Negara Malaysia (BNM) and Ringgit. You may stop reading now if you disagree with BNM’s move to take the excessive speculation out of the Ringgit and feel that this is like a capital control. Actually do we know that Malaysia has trade surpluses every month and every year for many years already? However, BNM’s foreign reserves did not rise for the past few years.

Let’s also read an interesting article too. Here:
Malaysia’s Ringgit Crackdown Spooks Investors
. Please read the article carefully. It said, “Malaysia’s crackdown on currency speculators has come at a cost. While it has successfully reduced ringgit volatility, it is threatening to discourage overseas investors.”  First sentence was about the success of BNM. Clap, clap, clap. Second sentence technically means nothing. ‘Threatening’ does not carry the same weight as ‘KILL’ and ‘discourage’ is also extremely different with ‘STOP.’ By the way, the title says, ‘Malaysia’s Ringgit crackdown spooks investors.’ I would like to reiterate that when we put in some money and we hope for quick or very fast returns, that’s NOT investment and we are not investors. A better word may be a gambler. Just as fundamentals do not change overnight, why is the currency going up and down a lot within days? Disagree? It’s okay, there are lots of other strong currencies to hedge against the ringgit. By the way, Warren Buffet’s famous statement about ‘investment’ versus ‘not an investment?’ Here:
“Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.”
 Invest, please. Cheers.

written on 8 Feb 2017

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Sufficient liquidity in the banking system. Monitoring also in place.

This has happened:
BNM’s 6 months moratorium on loans for businesses and Malaysianns.
 So, yes, it is still a hot topic at the moment and many questions were also asked. This was asked to me too, “Could I get a 100% home loan” since Bank Negara Malaysia (BNM) has eased the financial approval requirements? The answer is nope. It’s not to help first time home buyers, not this moratorium anyway.

This moratorium is aimed at ensuring businesses could continue to operate and not closing down during this Movement Control Order (MCO) period. Not all will survive but at least more would. As for the question of whether the banks themselves have enough liquidity to carry out the moratorium, here is BNM’s answer.

Article in malaysiakini.com
  Bank Negara Malaysia (BNM) said its recent 100 basis-point reduction to its statutory reserve requirement had released some RM30 billion into the banking system, on top of RM160 billion in excess liquidity. “Of this, approximately RM100 billion placements with the bank under open market operations can also be used to meet the liquidity needs of the banking system,” BNM said in a statement.

BNM also said that it will continue to supply daily ringgit liquidity to banks via various tools under its open market operations, including the outright purchase of government securities, foreign exchange swaps, reverse repos and the standing facility.  BNM said it will also allow banks to drawdown on the capital conservation buffer of 2.5 percent, operate below the minimum liquidity coverage ratio of 100 percent, and utilise the regulatory reserves that were set aside during periods of strong loan growth. Banks would be expected to restore the buffers “within a reasonable period” after the end of the year.  Please do read the full article in
Article in malaysiakini.com

Perhaps another question. Will a recession happen in Malaysia? I have tried to search for at least one article which says that it has predicted that Malaysian will fall into a recession. At the moment, it’s mostly a downgrade of the potential GDP number instead. Hopefully this stays for a while until we see some light at the end of the tunnel to this COVID-19 issue. Then, we should be fine by then. STAY at HOME and please take care. MCO is now until 14th April 2020.

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3rd MOST number of sugar daddies in Asia?

This is an article about sugar daddies. There are close to 50 countries in ASIA, including Malaysia. All these countries including ours are ranked versus one another in many aspects of interest. The usual ones would be on economy, on trade growth, on population, on COVID-19 numbers and more. Someone sent me this latest ranking and it’s for SUGAR DADDIES.

Photo by Andrea Piacquadio on
Pexels.com

The definition of sugar daddy according to Oxford is:

sugar daddy
 noun
 INFORMAL

a rich older man who lavishes gifts on a young woman in return for her company or sexual favours.

Haha. It says rich older man, so as a country which is NOT yet an ageing nation, we should have less of them? Guess what, Malaysia is top 3 in the whole of ASIA. Okay, do not question the survey results. Just accept it as it is. Read on for some details:

Article in malaymail.com
.
 Malaysia is home to 42,500 sugar daddies! The highest is India with a whopping 338,000 sugar daddies. (Based on ratio to population, I think they are not that high. Malaysia is higher…) Meanwhile Indonesia beat us with 60,250 sugar daddies. This is as per world’s largest sugar dating site, Seeking Arrangement.

The dating firm said in a statement that countries with high-tertiary education penetration rates were proven to be more vulnerable to this trend. 4th place is Japan (32,500), Hong Kong (28,600), Taiwan (27,300), Vietnam (12,000), South Korea (7,000), Sri Lanka (5,000) and Cambodia (3,500). More details refer to the site:
Article in malaymail.com

Demand and Supply… right?

When we have that many sugar daddies, of course we would need an equal or a larger number of supply for these demand. Actually, I do know of at least one person who belong to the supply side. Of course, I have no idea who her sugar daddy is but she has a good lifestyle without the need for a full-time employment. Drives a pretty decent car (not luxury type) and sports many branded handbags too. No idea if this could be said to be a form of job too. The issue with these sugar daddies is that they may not be loyal to the same person for a very long time.

Financial management remains key

Just as one would have to retire and income may stop in some point in time, there would also be a time when these sugar daddies may be too old to continue this lifestyle. There would also be time when these ladies may no longer be in demand and the income may also stop. This is why it is prudent to have some savings and continue to read more, understand more and invest those savings. Spending all the money would be a foolish decision. Remember, a fool and his money soon parted.

Nope, I am not proud at all with this ranking yeah. Thanks for reading and try not to add to the numbers yeah.

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Suing Fox for RM4.19 billion. Market capitalisation dropped RM4.89 billion.

Everytime I visit Genting Highlands, I could see the progress of their upcoming new theme park, Fox World. An earlier article here:
Genting Highland’s Sky Avenue
  I think I will have to wait for a much longer time for the theme park to be opened. Genting Highland has filed a suit of US$1bil suit against Walt Disney Co and Twenty-First Century Fox Inc over the cancellation of the first Fox-branded theme park. Genting Malaysia accused them of abandoning a contract related to its planned construction of the first Fox-branded theme park. The suit was in response to a notice issued by FOX in which it terminated the MoA and claimed about US$46.2mil (or RM193.6mil) in accelerated payments.
For the full story, the article in TheStar here.

As for Genting Malaysia and Genting Bhd, both these shares had a combined loss of RM4.89 billion from their market capitalisation on Tuesday (27th November 2018). Nevertheless, this is what CIMB Equities Research said of Genting Malaysia. It said, based on a news report, Genting Malaysia had already invested US$750mil in the theme park. Thus, “This news is a major negative surprise to us. Genting Malaysia’s theme park was supposed to open in end-2017 but the date has been delayed to 1H2019. Due to potential legal complications, we are concerned if Genting Malaysia could still open the theme park in 1H2019. Due to the opening of the new theme park in 2019F, we had earlier forecast visitor arrivals to rise 14-15% in 2019/2020F. Now, it looks like our forecasts could be too optimistic.” It said, “We are maintaining our EPS forecasts and our Hold call pending the conference call with management this Friday on its 3QFY18 results. A re-rating catalyst is the opening of the new theme park in mid-2019 while a de-rating catalyst is the theme park failing to open in 2019. Our target price remains pegged to its RNAV of RM4.85.”
For the full story, the article in TheStar here.

For now, just visit Genting Highlands for GPO and the cool breeze then.  The theme park is likely to be delayed further. As for buying the shares, the current prices do represent an opportunity because every time I go up there, it’s full of people.

written on 28 Nov 2018

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Summary of Median House Price in Malaysia from 2010 – Q1 2021.

Sometimes, I am tired from answering people who asked if property investment is indeed a good investment. If I answer yes, then they ask if I am biased. Haha. If I answer no, then I am lying because I have indeed profited from property investments. Until today, I still get free coffee from friends who started their property investment because of my sharing too.

So, will not give any explanation today. Let’s just look at the actual median price for property in Malaysia and you decide if someone who bought a property in 2010 would be a happy person in Q1 2021. The next two images after this would be for all other states’ median property price. So, for those who invested based on typical median price in 2010, congratulations for making the right decision.

https://napic.jpph.gov.my/

SUMMARY OF RESINDENTIAL (ALL HOUSE) PRICES UPDATE IN MALAYSIA Q1 2021

https://napic.jpph.gov.my/

Median for some states are lower and some states are higher

While the median price for Malaysia is RM300,000 this is not the same for all states. In fact, Kuala Lumpur has a median price which is 66 percent higher at RM498,000. Do you own a property in Kuala Lumpur which is higher than this? It may mean your income is also higher than most Malaysians too.

Working in KL, staying in Selangor

Selangor property median price is 32 percent higher at RM395,000. If you are working in KL earning a higher salary than majority and you are staying within Selangor, then you may have th e best of both worlds; higher pay and lower property price. Of course, within Selangor, there are also areas where the prices are higher or lower and not the same within whole Selangor.

Working in KL and staying in Putrajaya?

The highest is WP Putrajaya where the median property price is RM650,000 and this is more than double that of average for all states. Based on working population, I think homes in Putrajaya would be bought by people working within Putrajaya or Cyberjaya. It’s not so common to have people working in KL and staying in Putrajaya… Just not convenient enough yet and driving would really be tiring too.

Enough for today. There was not a single line where I say property investment is the best investment yeah. 🙂 Take care and please only go out when necessary but there is no need to be paranoid about Covid-19 numbers too. It’s Delta. So, just need to manage it versus shutting down everything like when we were facing an earlier strain.

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Two Sumos wrestling in your living hall?

Fancy staying in a home where the living room is huge? Within a mature neighbourhood with a Kuala Lumpur postcode? Trinity Group held a press event last week for the launching of Trinity Pentamont in Mont Kiara, Kuala Lumpur. The highlight of the event was sumo wrestling in the middle of the unit!  Nope, not getting some big-sized Malaysians to play the sumo part but real sumos flown in from Japan. These two Sumo wrestlers battled it out in the first-ever launch of Trinity Pentamont, which is also the first in Malaysia! It was the first time in my lifetime to see Sumo wrestlers live in person to stand less than 5cm in front of me! I need not have to buy a VIP ringside seat and the flight ticket to Japan. Video as below:

The family-sized homes, each designed for penthouse living, are so spacious and flexible that even a Sumo wrestling match could be held in its living room!  The units have a layout of 4+1 bedroom, 4 bathrooms and 5+1 bedroom, 5 bathrooms. Units are sized from 2,057 square feet onwards. The show unit where the wrestling was held in Type C3 (5+1 bedroom. 5 bathrooms)  We did not have to cramped ourselves into a corner. The living room accommodated that sumo wrestling match as well as another 50 people comprising of management staff, business associates and media.

Everyone was very excited to witness the live Sumo wrestling and used their handphones and cameras throughout the match by everyone. There were a total of 3 wrestling games and although it only lasted for 5 minutes, it was really an unforgettable experience for everyone I believe.

More details about the Two
DUALs
 in Trinity Pentamont:

Dual key concept – the owner can rent out a room in the future when there is an extra room and this will not affect the privacy of the owner.

Dual entry and exit access via Jalan Kiara 5 & Jalan Kiara 3 – access to PLUS highway, Sprint highway and Jalan Duta-Sungai Buloh highway.

There are three
BIGs
 in Trinity Pentamont:

BIG on value – prices starting at RM640 per square foot.

BIG on facilities – Klang Valley’s first adventure-themed facilities

BIG on space – unit sizes are much larger than other developments in vicinity.

For more information,
do visit their website here.
 Alternatively, call them: +6016-907 8080.  Their brochure can be
downloaded here.

written by MY on 1st Oct 2018

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RM5.50 to travel 51km? Not bad lah.

Just a few days ago, I told my wife that we should try the MRT Sungai Buloh – Kajang when it has started to run the full length of 31 stations or 51km.  It will take 80 minutes versus if I drive, it would be around 50 minutes. Anyway, taking it is not because of the duration, it’s more of the fact that my daughter has told me a few times that she would like to sit in a train. I guess MRT is considered a ‘train.’ In terms of fuel plus toll, I think it would be close to RM50 for a return journey via my Exora. Of course, this is for 4 pax while if I take the MRT, it will be RM11 per pax (return). It will be RM44 for a return journey for 4 persons. So, for 4 pax, I think a car would be more convenient but if it’s to go to work /office / university, I think MRT would be much better and cost effective. By the way, the duration with a car would depend on the time of travel while the duration with the MRT should be the same anytime during the day. Not many are going from Sungai Buloh till Kajang anyway.

On the 17th of July, another 19 new stations would be opened and 7 are located underground. I heard from radio that some of the stations are worth taking photos to show the world. The 19 new stations are Muzium Negara, Pasar Seni, Bukit Bintang, Tun Razak Exchange Centre, Maluri, Cochrane, Taman Pertama, Taman Midah, Taman Connaught, Taman Mutiara, Suntex, Sri Raya, Bandar Tun Hussein Onn, Batu Sebelas Cheras, Bukit Dukung, Sungai Jernih, Merdeka, Stadium Kajang, and Kajang station. Each of the train set would have four cars with a capacity of 1,200 passengers and a ridership of 400,000 passengers daily. The trains would be running at an interval of 3.5 minutes. If half of these passengers used to drive to work, it would mean a reduction of 200,000 cars on the road daily. This is an impressive number. I think the only thing stopping even more people to take the MRT instead of driving would be parking spaces within the MRT stations. There are some where the parking is really limited or even nearly as expensive as the usual parking rate within the KL city centre.

Some earlier articles here:
Yes, I think the MRT is good and many people will benefit

My personal belief is that MRT will only be very successful if the government helps to push for it. They can use both the ‘sweet’ and the ‘cane’ approach. To many drivers on the road meant wasted time and thus productivity. With the completion, then the next one would be in focus.
MRT Line 2, Sungai Buloh -Serdang – Putrajaya (SSP) updates

Actually, the construction on the line 2 has already started and within my heart, I really do believe that the stations would be ready earlier than the projected 2022. It would be remarkable if the line is fully opened by mid 2021, not just half of it. So, is this the time to buy near to at least one of the stations?
Buying a new home? Ask Why, not just Where
 Will share my experience once I arrive home after satay Kajang. The Sungai Buloh station is just 8 minutes away from my home. Happy taking a ride.

written on 14 July 2017

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Sungai Buloh MRT a catalyst to nearby developments

Sungai Buloh is an area considered ‘very far’ from the KL city centre. Not for me but for most of my friends, it is such. As usual, my comparison is always based on an area to KLCC Park at Jalan Ampang. Do take a look at the google map image. Assuming one were to start at 730am, it would usually take a minimum of 30 minutes (probably during schools holidays) and up to 1 hour and 5 minutes. As someone who is driving to Jalan YapKwan Seng (right next to Jalan Ampang) every working day, I can safely say that the total time taken is usually between 45-55 minutes instead. This is if I reach the Sungai Buloh toll (nearby the MRT station) at 730am. if we are to take the MRT instead, we can switch station at Pasar Seni for the LRT Pasar Seni and then stop at LRT KLCC which is then a short walk to Jalan Ampang. Total time taken should be around 1 hour.
I have taken this a couple of times

recently. Happy to walk a bit. As of today however, there are still not that many people taking the MRT from Sungai Buloh station. If you ask me why, perhaps there are still not enough people staying nearby? Perhaps people still think driving provides them more convenience. Perhaps not many people know that as long as you park your car at the MRT Sungai Buloh station and take the MRT using the same Touch&GO card, then the parking for one whole day is only RM4.30? Compared to RM23 per day that I have to pay in my officer tower, this RM4.30 means I could park for one whole week and still have RM1.50 for half a loaf of bread.

There’s an article in freemalaysiatoday.com talking about the new MRT Sungai Buloh.
Read here: New MRT Line in Sungai Buloh spurring growth
It shared that the few areas benefiting from this would be as follows: Sungai Buloh, Kampung Selamat, Kwasa Damansara and Kwasa Sentral. I think everyone realised that Kwasa Damansara is huge. In total, the area is a 2,330-acre township. Within the article, CBRE Williams Talhar & Wong managing director Foo Gee Jen said, “Convenient accessibility to destinations such as the Kuala Lumpur city centre, retail centres and KL Sentral transport hub will appeal to and attract young urbanites and small family households to high-rise residential developments.” Landserve Sdn Bhd managing director Chen King Hoaw meanwhile shared that single and double-storey terraced houses were seeing the most demand but apartments were also becoming more popular. There are a lot more
contents in the freemalaysiatoday article here.

Actually, I told my wife that should we move again, it would be further into Sungai Buloh or even Rawang. The clear advantage? It’s even more
nearer to my hometown Ipoh.
 A
nother advantage? Well, both Sungai Buloh and Rawang is still growing. In other words, opportunity continues to present itself. The current slow market helps too, for those who are still saving for a unit. Current advantage? MRT Sungai Buloh has 8 floors of car parks, and it is now connected all the way into the city centre and up till Kajang for some sate. One thing is for sure though, when there are more residents, I may not get to sit all the way from MRT Sungai Buloh till Pasar Seni. Note though that it does not have to be this side of the Greater KL yeah. It could be the other end; Seri Kembangan, Kajang and Bangi. Happy using the public transport.

written on 29 Sept 2017

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Sungai Buloh, Rawang, distance, duration and emotional attachment.

Following up on MX-1 in Sungai Buloh which was won by Malaysia Resources Corp (MRCB). They are the lead partner and in an announcement said that they will be injecting RM816.6 million into the RM8 Billion GDV project. Size of the project is 26ha. A special purpose vehicle (SPV) would be set up for this and this deal will see MRCB issuing a profit guarantee of RM2 billion to this SPV also known as Kwasa Development (2) Sdn Bhd. According to MRCB’s managing director, MX-1 will be new township that will serve the living and working requirements of 135,000 residents. Infrastructure works will start by first quarter of 2015.

In case everyone has forgotten about this piece of Rubber Research Institute Malaysia (RRIM) land. The overall size of the land is 3,335 acres. Of course MRCB would not be the only one developing it, I do not think any developer would have the financial muscle to do it. Thus, other developers such as Mah Sing, Dijaya etc have also been moving into the development of this piece of land. Today, I went out for lunch with a few colleagues, all of whom are younger than me and only one out of 5 owns a property today. Others said they are thinking of buying one and one said, ‘If I buy landed, it has to be in Sungai Buloh hor. It is just so far’. I told him, many years ago, when you tell people you are buying Damansara Mutiara, they would look at you strangely. This was the same as those who bought Mont Kiara or even Sunway during its earliest days. As long as there are developments being planned, there’s no such thing as too far away.

Then he asked, what about Rawang? I said, ‘last year my wife said Rawang is so far away’ and I agreed. Haha. That’s why I bought my current place. Then I told him that I think in 4-5 years time if my current place appreciates to my personal target, then I may think of Rawang. After all, the distance of 30 odd km away from my office meant that I needed just an additional 10 minutes versus my current home. If this 10 minutes can allow me to sell my home at a good profit and buy a similar property in Rawang for much lesser, then I am motivated to do it. He asked, ‘won’t you miss your current place?’. I smiled but I did not reply. I think for me, properties are supposed to offer me comfort and potential to earn profits. I have not yet reached the stage where I intend to buy a place and stay until the last of my days. Emotional attachments, I save only for my loved ones. I have no special emotional attachments to any properties I bought thus far.

written on 20 Aug 2014

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Sungai Buloh (RRIM) – 20 Tier 1 Developers Announced for RFP

These 20 would be those which were selected for the next round; RFP. This RFP would be used to find a partner in the development of Project MX-1 on a provisional master layout. The whole project would be called Kwasa Damansara township and MX-1 will be its town centre. The 20 are as follows: (in alphabetical order)

1) Bandar Raya Developments Berhad          2) Bandar Utama City Corporation Sdn Bhd          3) DRB-HICOM Berhad          4) Eastern & Oriental Berhad          5) Gamuda Bhd          6) Goldis Bhd          7) Guocoland Malaysia Bhd          8) IJM Land Bhd          9) IOI Properties Bhd          10) I&P Group Sdn Bhp          11) Mah Sing Group Bhd          12) Malaysian Resources Corporation Bhd          13) Perbadanan Kemajuan Negeri Selangor          14) Putrajaya Holdings Sdn Bhd          15) SP Setia Bhd          16) Sunway Bhd          17) Tropicana Corporation Bhd          18) UEM Sunrise Bhd          19) WCT Bhd          20) YTL Corporation Bhd.

This MX-1 location has a main road frontage and two nearby MRT stations not to mention all the other commercial, retail and residential developments at the location. For the RFP, all tenderers would be submitting development concept and layout proposals for the MX-1 parcel based on approved plot ratio, development phasing, and unique features of the proposal, complete with overall planning layout, 3-D massing and landscape plans. The whole township project is 942ha and is expected to have the following: common infrastructure and thematic landscape parks, provide land for schools, mosques and other places of worship, police stations, fire stations, as well as build affordable homes.

Looking at the full list of 20, I think I know majority of them which meant that those who are going for the RFP are all established developers. If you believe this would yield positive result and would like to buy something today, then you may want to consider places nearby with good projects which are still underpriced. Just go online, look at price psf. There are generally still bargains because secondary property has not gone up a lot and Sungai Buloh is not exactly on top of investors’ minds.

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Sungai Buloh and Damansara Damai: Stellar’s Grocer

I have recently been having dinners on and off at Stellar’s Grocer, a new supermarket in Sungai Buloh. I stay in Damansara Damai. It has a small restaurant cum cafe right beside the supermarket which meant that after dinner, I could also do my grocery shopping. It’s little restaurant serves the same menu the whole day and I would recommend it’s set meal consisting of a main course, a bowl of soup as well as ice-lemon tea for just RM9.90 nett. My favourite is butter chicken rice which is buttery rich and spicy. Haha. Oh yeah, its Tuna Pasta is pretty economic, at just RM5.90 per portion. Current offer is as per image. Pretty good in my opinion.

From vegetables to meat and fish choices, everything is available. I would prefer even more choices but I think it’s enough for weekday shopping. Shelves are also arranged in such a way that browsing is easy. Prices are pretty reasonable even if not the cheapest around. Yes, a non-Halal section is available too for non-Muslims. Parking is easy in the basement car park and we could walk straight into the supermarket itself. Of course, it is still free and based on the number of shoppers, it should be free for at least a few more months.

Currently, in the whole building, only the supermarket is open today. Dropping by is easy, just use Waze and key in ‘Stellar’s Grocer.’ There are not a lot of shoppers yet but I seriously do hope that more people from the surrounding areas would drop by. Keep it open so that we have another option. Yes, it’s less than 10minutes away from Damansara Damai. Happy dropping by.

written on 11 May 2016

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Sunsuria City: RM700 million Korean themed mixed development

When we consider buying a property in Selangor, there are still lots of cheaper options when compared to Kuala Lumpur. Due to the size, there are also a lot more than developers could do in Selangor versus within KL. Land size is a limitation. Read on for something exciting for many people. I think today, everyone would acknowledge that K-POP is the top versus HK, Taiwan or even Japan. Korean stars are today THE ones to craze for. K-drama is by far most watched drama compared to even TVB because K-drama is watched by ALL segments of Malaysians. I have not watched drama for a very long time because it’s so hard to follow it everyday. Besides, my daughter prefers her channels too. Haha. Anyway, anything with a Korean theme should be pretty sellable, right? Maybe that’s why Sunsuria Bhd’s recently announced joint-venture collaboration with Taiwan-based Welcome Global Co Ltd for a Korean-themed development within Sunsuria City.

It’s a 8.48-acre mixed-development project with an estimated gross development value (GDV) of RM700mil. The development includes a boutique hotel, a wedding house, serviced apartments, a Korean-themed mall known as K-Mall, as well as a themed garden. It will be launched in 2017 and will be known as Sunsuria Provence Village. A K-Mall will be its first phase and it will feature Korean merchants and brands under three segments, which are K-Beauty, K-Fashion and K-Pop. The mall is considered boutique in size; 50,000 – 70,000 sq ft.

There’s also a hotel; Hotel Everrich with less than 200 room with a Korean theme as well. It originated from Ganghwa Island, Korea.The themed garden would have a glass wedding house to cater to weddings, parties and private functions. It will include both French and Korean design features throughout the development and Sunsuria expects these to make  Sunsuria City one of the most sought-after destinations for lifestyle photo shooting, video shooting and documentaries.

Regardless of the theme and trend, get to know the project by driving around the area. The actual site of Sunsuria City project is Salak Tinggi which is also known as Putrajaya South. On an overall basis, Sunsuria City is 525 acres. In other words, there are a lot more developments to follow if everything goes according to plan. I wrote about
Sunsuria’s below RM400,000 project in Salak Tinggi
 before. In other words, things are moving along and I hope to see some more details about this Korean themed development soon. Will update with more photos then.

written on 2 June 2016

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Media Release:
SUNWAY ANNOUNCES MALAYSIA’S FIRST URBAN FARMING INNOVATION HUB IN CONJUNCTION WITH WORLD ENVIRONMENT DAY

Sunway FutureX will be a 50,000 sq ft urban farming innovation hub focusing on food solutions and agritech

Sunway City Kuala Lumpur, 5 June 2020–
In conjunction with World Environment Day, Sunway today has announced that it will build a 50,000 sq ft urban farming innovation hub, Sunway FutureX which will be completed in the third quarter of 2020.

Led by Sunway Innovation Labs (Sunway iLabs), Sunway FutureX is the first of its kind in Malaysia, and will serve as a skills-building hub for urban farming professionals, tech companies, researchers and young talents to collaborate and to create transformative solutions focusing on food and agritech. The initiative leads Sunway’s venture into agritech.

Sunway FutureX, located in the heart of Sunway City Kuala Lumpur, will have three pillars: FutureX Farm which is an indoor and outdoor smart farming area, FutureX Talent which is a research and development centre, and FutureX Campus, a training and collaborative space which includes a cafe.

Matt Van Leeuwen, Sunway Group Chief Innovation Officer and Sunway iLabs Director.

“FutureX Farm will focus on the delivery of four key objectives – Nourish, Educate, Empower and Innovate. Bringing together a wide pool of expertise and resources from ecosystem players, Sunway FutureX will aim to create decentralised urban farms to serve local communities, and to address supply chain challenges and distance between farm to fork. We hope to venture build new innovations, which will contribute to improved long term food security and sustainability in our nation,” said Matt Van Leeuwen, Sunway Group Chief Innovation Officer and Sunway iLabs Director.

“One of our first partners will be Sunway Property. We aim to nourish our communities with the fresh produce grown at our farms and educate them about sustainable living and urban farming. We hope to sow the seeds of inspiration and ultimately empower homeowners to grow their own food. This will be a model for Sunway Property to replicate throughout their cities in Malaysia, and allows us to scale up quickly,” he added.

According to reports, Malaysia imports most of its food from countries such as China, India, Thailand, Indonesia and New Zealand, and only has about eight percent of agricultural land for agro-food production. Malaysia’s food import bill has grown significantly over the last two decades and exceeded RM 52 billion in 2018.

Research shows that imported food lose an alarming amount of nutrients during processing, packaging and transportation before it reaches consumers. In addition, traditional farming methods and the existing logistics involved in the supply chain contributes in a big a way to the carbon footprint.  With the world experiencing unprecedented challenges amid the global COVID-19 pandemic, the threat to food security has increased.

In urban cities like Klang Valley where land is limited and expensive, Sunway sees the potential of harvesting the power of talent and technology to build urban farms on under-utilised spaces such as rooftops, carparks and even within buildings. Recent developments in technology have enabled efficient urban farming techniques that require less water and no pesticides to produce consistent yields, while revitalising under-utilised spaces. In recent years, urban farming has rapidly gained attention in cities all over the world as a feasible instrument in realising food sustainability and sustainable development.

FutureX Farm will also partner with Thought For Food (TFF), a global non-profit organisation dedicated to entrepreneurial innovation for food and agriculture.

“We are thrilled to be partnering with FutureX Farm to develop urban farming in Malaysia and across the region. We see many exciting opportunities to collaborate with Sunway iLabs to provide a sandbox for startups from our global TFF innovation platform to carry out pilot projects and test out their solutions to fit the local market needs,” said Christine Gould, Thought For Food’s Chief Executive Officer, who will be partnering with Sunway iLabs to launch various programmes including the TFF Digital ASEAN Lab to engage, empower and accelerate the next generation of purpose-driven food and agritech innovators.

Committed to advancing UNSDG

Sunway is deeply committed to advancing the 17 United Nations Sustainable Development Goals and has incorporated these practices in its township development. In line with Goal 12: Responsible Consumption and Reproduction, the Group believes that sustainable food production and consumption is crucial in any environment, whether in the outskirts or the city, and must be done responsibly.

Sunway embarked on its journey towards food sustainability last year by repurposing 40 hectares of undeveloped land in Sunway City Ipoh for food and agriculture. Located at The Banjaran Hotsprings Retreat, Sunway Organic Gardens produces pesticide-free fruits and vegetables with fresh water from the mountains for its guests, locals who work there and their community.

Sunway Pyramid, Sunway Real Estate Investment Trust (REIT) and Sunway Hotels also joined forces to introduce the Food CPR – Compost. Plant. Reduce. campaign aimed at tackling the food waste problem in Malaysia. Food waste will be channeled to Sunway Pyramid and Sunway Hotels & Resorts on-site compost machine to be processed into fertiliser. The compost will be free for the public to collect at Sunway Pyramid’s compost collection area at B1 Blue Zone Carpark Lobby.

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Press Release:
Sunway Belfield Records 80% Take-Up Amidst MCO

Development’s strategic location, surrounded by architectural charm and new-norm lifestyle consideration a hit
Tower B of Sunway Belfield now open for registration

Sunway City Kuala Lumpur,
31 March ~ Master Community Developer, Sunway Property’s newest freehold property, Sunway Belfield, has registered a 80% take-up rate for its first tower despite its soft launch during the movement control order.

Due to the overwhelming response, the developer has now opened its second tower for sale.

The Sunway Belfield development, spans 5.43 acres with a gross development value of RM 1 billion. The development comprise three residential towers and is located only 400 meters away from the Maharajalela monorail station, placing residents a mere two stops away from the KL Sentral transit hub and three stops away from the Bukit Bintang MRT station.

The development is also located 400 meters away from SJK (C) Kuen Cheng 1 and 800 meters away from Petaling Street and the upcoming Merdeka 118 tower, which, upon completion, will offer one million sq ft of shopping and entertainment spaces, 83 storeys of corporate offices, 12 storeys of hotel rooms, five storeys of hotel residences and a retail business centre. The development is also within a five-kilometer radius of KLCC, KL Tower, TRX, Alice Smith International School, Taylor’s International School, Pavilion Kuala Lumpur, Tung Shin Hospital and Sunway Velocity which comprise a shopping mall, a hotel, offices and a medical centre.

Central region property development division executive director, Chong Sau Min, attributed the success of the development to a combination of its strategic location, freehold tenure, its green features, and the development’s consideration of the new norm lifestyle.

“Sunway Belfield is a Green RE-certified sustainable development, and is designed with Sunway Property’s value proposition blueprint for all its developments – connectivity, healthy lifestyles, convenience, community and security in place. In addition, we have taken into consideration of new norm lifestyles such as the renewed focus on health and wellbeing, and the work from home trend. The development integrates close to 30 facilities for the residents for social and wellbeing activities including a co-working space, a herb and spices garden for farm to table living, as well as indoor and outdoor community spaces.

“Many of our own-stay buyers are also charmed by the fact that the development is situated in a unique part of Kuala Lumpur where food, culture and architectural heritage is in abundance, whereas investors are attracted to the potential capital appreciation from the development’s location in a growing part of Kuala Lumpur,” he added.

The development is located close to the Zhongshan Building which has been transformed into an art hub, and the famed Loke Yew family home which is now the Pentago House, and the Chan She Shu Yuen Ancestral Hall.

Interested buyers can experience the spectacular development virtually on
https://sunwaybelfield.com/video/belfield_vr_53/level_53.html
. Bookings for Sunway Belfield during Sunway Property’s “Beauty of City Living” campaign which runs from 1
st
 March to 31
st
 May will be entitled to a Panasonic Nanoe Air Conditioner.

–end of press release —

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Sunway Berhad reported net profit of RM251.7 million

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Press Release: Sunway Berhad Reported Profit Before Tax Of RM79.0 Million in 2Q 2021

Sunway City Kuala Lumpur, 24 August 2021 –
 Sunway Berhad today announced its second quarter financial results (“2Q 2021”) for the financial year ending 31 December 2021.

The Group recorded revenue of RM967.9 million for the current quarter ended 30 June 2021 compared to RM556.6 million in the corresponding quarter in the previous year, representing an increase of 73.9% year-on-year (“y-o-y”). The higher contributions from all business segments in the current quarter resulted in a profit before tax of RM79.0 million in the current quarter, a significant turnaround from a loss before tax of RM0.9 million in the corresponding quarter of the previous year.

The overall improvement in the Group’s financial performance in the current quarter was attributed to the ability of the various businesses being able to adjust and adapt their business operational process to continue to operate, albeit at a lower capacity, during the reinstatement of Movement Control Order (“MCO”) with effect from 1 June 2021. However, the hospitality and leisure businesses under the property investment segment continued to be impacted by the consequences of the MCO.

The Group launched two executive condominium projects in Singapore in February 2020 and January 2021 respectively which were well received and achieved strong take-up rates. Due to the adoption of MFRS 15, their development profits will only be recognised upon completion and handover of the projects. The accumulated progressive profit of these projects amounted to RM17.7 million as at 30 June 2021.

The Group declared a first interim single-tier cash dividend of 1.00 sen per ordinary share for the financial year ending 31 December 2021 and a preferential dividend of 5.25% per annum [based on the issue price of RM1.00 per irredeemable convertible preference shares for the period from 1 January 2021 up to and including 30 June 2021, in respect of the financial year ending 31 December 2021.

Sunway Group Chief Financial Officer, Chong Chang Choong commented, “It is encouraging to note that the mass vaccination rollout has started to ramp-up steadily after the initial slow start. A speedy and successful vaccination programme will enable the domestic economy to reopen faster. The gradual reopening of the economy is expected to gather momentum in the later part of the third quarter and improve further going into the remaining last quarter.”

He added, “We are pleased that the Group has managed to get 95% of its workforce fully vaccinated and is well positioned to capitalise on the anticipated strong recovery in the later part of this year. Barring any unforeseen circumstances, the Group expects the financial performance of the second half of this year to be satisfactory.”

— End Of Press Release —

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Sunway Berhad reported profit before tax of RM251.7 million and declared acash dividend of 1.5 sen in 4Q 2020

Press Release:
SUNWAY BERHAD REPORTED PROFIT BEFORE TAX OF RM251.7 MILLION AND DECLARED A CASH DIVIDEND OF 1.50 SEN IN 4Q 2020

Sunway City Kuala Lumpur, 31 March 2021 –
 Sunway Berhad today announced its fourth quarter financial results (“4Q 2020”) for the financial year ended 31 December 2020.

The Group recorded revenue of RM1,278.0 million in 4Q 2020 compared to RM1,353.0 million in 4Q 2019, representing a decrease of 5.5% year-on-year (y-o-y). Revenue was lower in 4Q 2020 due to lower contributions from property development, property investment and quarry segments. Profit before tax (“PBT”) was marginally lower by 0.2% y-o-y at RM251.7 million for the quarter ended 31 December 2020, from RM252.1 million in the corresponding quarter of the previous financial year. It should be noted that the balance of the development profits on one of the Group’s Singapore and China property development projects totalling RM182.5 million, which were deferred due to the adoption of MFRS 15, were recognised in the current quarter.

While most of our business segments continued to recover from the fallout of the pandemic, our hospitality and leisure businesses under the Property Investment segment continued to be adversely impacted in the current quarter due to the resurgence of COVID-19 cases and the reinstatement of the Conditional Movement Control Order MCO (“CMCO”) which called for the closure of the theme park operations and more stringent social distancing requirements.

In December 2020, the Group has successfully raised a gross proceeds of RM977.8 million pursuant to the completion of the Right Issue of Irredeemable Convertible Preference Shares (“ICPS”). The proceeds from the ICPS will be utilised to fund the expansion of the healthcare division, property development and property investment expenditure as well as repayment of borrowings.

The Group has declared a first interim cash dividend of 1.50 sen per ordinary share in respect of the financial year ended 31 December 2020. In addition, the Group has also declared a preferential dividend of 5.25% per annum (based on the issue price of RM1.00) per ICPS for the period from 3 December 2020 (being the issue date) up to and including 31 December 2020.

During the current financial year, the Group reassessed the classification of its investment in wholesale funds in accordance with MFRS 10
Consolidated Financial Statements
. The Group has also consolidated these funds and restated its comparatives via prior year adjustments. The prior year adjustments have also affected the classification of the perpetual sukuk from equity to non-current liabilities as it does not meet the definition of equity in accordance with MFRS 132
Financial Instruments: Presentation
. These reclassifications are not expected to have any significant impact to the core performance of the Group as the Group continues to generate strong cashflow from its operating activities. The Group has cash and cash equivalents amounting to RM2.1 billion.  Further, the Group plans to rebalance its overall debt maturity profile.

Sunway Group Chief Financial Officer, Chong Chang Choong commented, “The financial performance of the Group’s business segments, especially leisure and hospitality businesses, is expected to continue to be impacted by the pandemic in the first half of 2021. However, the Group is cautiously optimistic that with the progressive rollout of the mass vaccination programme by the government, the local economy will begin to recover steadily in the second half of the year. Barring any unforeseen circumstances, the Group expects the financial performance of 2021 to be satisfactory.”

— end of press release —

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Sunway announces RM2.8 billion launches for 2021

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