Press Release: Seven Years of First-Time Homeownership Joy, Love And Laughter

Myra celebrates seven years of turning homeownership dreams into reality

Over the past seven years, the primary driving force behind Myra has been to challenge the frequently misunderstood notion of ‘affordable homes.’ This objective has been achieved by establishing new benchmarks in the residential segment, offering a seamless and stress-free homeownership experience for first-time buyers. These initiatives are the catalyst for significant milestones in the lives of our customers.

Myra has consistently endeavoured to ease the burden for first-time homeowners, as demonstrated by the successful launches of Myra Putra and Putri in Putrajaya, Irina by Myra and Alea Residence at Bandar Puncak Alam, and the recent addition of Myra Impian at Nilai, Negeri Sembilan. Many of these new homeowners are young couples or single adults aged between 26 to 35, who prioritise making informed decisions before committing to purchasing what will likely be their Biggest Most Prized Possession (BMPP) in life.

The intention over the years has been for Myra to create a renewed sense of excitement, counter the anxiety, and assuage the concerns of escalating home prices and rising inflation rates that impact many hard-working Malaysians. This focus is crucial because the prospect of owning their first home can be daunting for many individuals.

Myra, a trusted property developer since 2016, takes great pride in its impressive track record of delivering over 2,593 affordable homes worth over RM 1.388 billion to first-time homebuyers and their growing families. And today, Myra is steadfast in standing by this commitment to providing quality housing options to Malaysians from all walks of life.

Taking Myra Putri as the latest testament to its commitment, the development offers prospective buyers a quality starter home at an affordable price point. With units starting from RM 380,000, Myra Putri provides ample living space spanning 904 sq.ft., comprising 3 bedrooms and 2 bathrooms. This cost-effective option presents tremendous value, ensuring homebuyers can enjoy a quality living experience without breaking the bank.

Like other Myra homes, buyers will find it difficult to come across another project in the same price range that offers the same level of quality workmanship and facilities. The substantial take-up rates across our different projects clearly indicate that many individuals have become proud homeowners of Myra properties that they can genuinely call their own.

A HELPING HAND

Myra has distinguished itself over the years by providing a guiding hand throughout the homeownership journey. A valuable resource is the Myra Library, an in-house archive available to anyone embarking on their homeownership journey. Coupled with a website that is easy to navigate, this customer-centric approach has yielded remarkable results.

One of the valuable resources offered by Myra is the Myra’s 4-Step Journey, serving as a proprietary guide to assist newcomers in finding their dream homes. Additionally, the Askmyra YouTube and TikTok channels provide curated bite-sized, and engaging lifestyle content on the subject, featuring youthful and energetic hosts and guests. These extensions further enhance and streamline the wealth of information available to individuals seeking their ideal living spaces.

To provide further assistance, Myra offers the Myra Super Calculator, a free consultation session designed to provide clarity to buyers regarding the necessary funds for the down payment, monthly instalments, and other additional associated fees.

Additionally, many Myra property owners find that their monthly loan instalments are comparable to the rental rates they currently pay, making Myra an appealing option for a stable and affordable home. “We take pride in equipping every prospective homebuyer with the tools they need to simplify the decision-making process,” said Akil Hassan, Branding & Culture Chief of Myra.

In addition to the updated blog-style Myra’s column, the resourceful and dynamic sales and customer relations team at Myra is readily available to assist and address the queries and concerns of prospective homeowners.

Myra believes in the importance of sharing and caring, offering a special “Neighbourhood Package” referral offer for those who book a Myra Putri home together with a friend or colleague.  It provides an opportunity to win exciting prizes as part of the vibrant Myra community. Akil further emphasised, “Our focus is on building trust through transparent interactions with buyers who see us as a long-term partner and stakeholder in their lives as Myra homeowners.”

GETTING ACQUAINTED

In commemoration of its 7th-year anniversary, Myra hosted an Open House event to celebrate with the vibrant community of Myra homeowners. The one-day celebration featured various enjoyable activities for children, captivating live music performances, and a live cooking demonstration by renowned celebrity chef Maria Tunku Sabri, showcasing delightful traditional culinary creations. Attendees had the opportunity to indulge in a feast of delectable dishes, including
kambing golek
(roasted mutton on a spit), satay, cendol, and more.

Myra’s esteemed brand partners, including Creme De Le Creme and Cosmic Cookware, joined in to offer exclusive discounts and exciting freebies to Myra’s valued friends. Participants had the chance to win fabulous prizes sponsored by Siti Khadijah, Cosmic Cookware, as well as enjoy memorable staycations at The Chow Kit and The Den by Ormond Hotels.

Even before the celebrations, Myra took the initiative to launch “Myra Cares,” a philanthropic program dedicated to giving back to the community and supporting those in need. As part of this effort, Myra collaborated with Pertubuhan Amal Seri Sinar (PASS) for a community recycling program. Additionally, a visit was organised to Pusat Warisan Suci, a foster home catering to approximately 50 children aged four to six years old. Myra remains committed to making a positive impact and uplifting the lives of those in need through its ongoing charitable initiatives.

Myra’s Princess Mascot, representing the new Myra Putri project, distributed gifts and engaged children with fun games, fostering community-building and charity initiatives. These ongoing efforts have strengthened the bond between the developer and residents of Myra projects, ensuring a promising future ahead.

“We are thrilled to celebrate our 6th year anniversary at Myra,” said Akil, expressing his excitement. “It represents the culmination of our collective achievements, from building high-value homes that will be cherished for years to come, to fostering vibrant Myra communities that care wherever we take root. Myra’s Open House is our way of celebrating and expressing gratitude to our customers for their continued support.”

For more information regarding this development, visit
https://www.myra.com.my/
.

-End-

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‘Severely unaffordable’, worst than Singapore, Japan and USA. US-based Demographia.

According to a research done by US-based Demographia, Malaysia’s residential housing market is ‘severely unaffordable’. The situation is worst than Singapore, Japan and United States. It said that housing are severely unaffordable if the median of house price to annual income is 5.1 times. Malaysia clocked 5.5 times compared to Singapore’s 5.1 and United States together with Japan is ‘moderately unaffordable’. Ok, first of all, I have never heard of this famous US-based company. I think they must have used very reliable data to come up with the numbers, so we will just have to accept it as it is. Allow me to share three stories I have known since many years ago, even before Malaysia’s property prices started to go up.

At a time when Malaysia’s property prices has yet to go up, Singapore’s has gone up, US has had a crisis and Japanese who work in Tokyo SELDOM own a property in Tokyo. Reason? Severely unaffordable. My ex Japanese GM travels 300km on a daily basis to work in Tokyo because he said, it’s not worth buying a SEVERELY small Tokyo property. How are you going to fit your family? My ex Japanese counterpart rents the smallest room ever he can find and it eats up nearly 40% of his pay. USA had such a SEVERE crisis that it made many of the largest banking groups to go partially bankrupt and they were mostly ‘bailed out’ by the government. The reason? Greed, everyone speculated including the banks and when someone suddenly woke up, the crisis happened. In Singapore, please refer to propertyguru.com.sg and take a look at what’s really available for below S$350,000. I hope you can find a decent place for you to raise your family with that amount.

I actually agree that property prices in Malaysia is getting very expensive and that the governments including federal and state must do a lot more. Stop talking and start pushing for more completion. Sorry, I still see lots of talking by both the federal and the state governments but in terms of actual completion? Not many. However, when a report said something which does not fit my personal logic, I have to say something. Oh yeah, National House Buyers Association (HBA) honorary secretary-general Chang Kim Loong says that HBA’s own findings especially in the urban and sub-urban areas have risen beyond the reach of many average Malaysians. He also said a lot of things which make sense like many Malaysians would need to combine their income to buy homes and this is pretty risky because what if sudden emergencies happen? I think these comments deserve a feedback from the relevant authorities? 🙂

All the best in hunting for a ‘severely unaffordable’ housing then. Perhaps this report may give a huge warning to the developers to start building cheaper homes and having lower margins. Every departmental store I went to this weekend had an ongoing property fair of some sort. Somehow I think the message from Demographia and HBA has not reached these developers? Also, based on this report, it may be prudent to keep cash because property bubble may burst soon. One main reason for property bubble to burst is because majority could no longer afford to buy a property and the price just plummet. Let’s wait for the next report from Demographia then.

written on 26 Oct 2014

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Of falling property prices, cooling measures and expectations

Just because property prices are on a downtrend does not mean that cooling measures should be lifted. In Singapore, the private home prices are extending its fall for the 15th straight quarters. Two things to note. The government’s cooling measures are working well. Secondly, it has been gradual which is why the market has not collapsed suddenly. The full article talking about the falling private home prices and some comments from prominent figures in
asia.nikkei.com here.
As for the medium term, do note that the bids for lands released by the Urban Redevelopment Authority is very strongly supported.
Some Malaysian developers are paying huge money to get their hands on one.
This is the comment by Desmond Sim, head of CBRE Research for Singapore and South East Asia. “These indicators lend support to the view that the residential market has been approaching, or has reached the trough, in terms of prices,”
(Is this the sign that prices are already at its bottom? Well, if it is, then the cooling measures can stay a bit longer.)

Anyway, just because property prices are nearing bottom does not mean that the cooling measures should be lifted. This is what the Monetary Authority of Singapore says in an article in
channelnewsasia.com
 Its chief Ravi Menon shared that while the property market in Singapore has “substantially stabilised” over the last three years, but it is not time yet to ease the cooling measures. His next sentence is very true. I think this is what the government is looking for. He said, “Over the medium term, property prices are expected to be aligned with broader income trends in the economy.” He added, ““If property prices increase faster than nominal GDP growth on a sustained basis, buyers would end up taking on more leverage than they can reasonably repay out of their incomes.”
(In effect what he is saying is that affordability is important. No point in prices falling but people’s incomes are still not high enough to afford them. So, if incomes could not rise fast enough, the home prices should not be rising too fast. Profoundly true)
Here’s that full article in channelnewsasia.com

I think the government’s expectations all over the world is on ensuring its people have access to a home. It should also be for an orderly increase in property prices (it has to increase, else, all owners will suffer and no one would buy). Cooling measures are not meant to
 push prices down indefinitely.
I
t is meant to ensure prices drop if it had risen way too high because the market does not always correct itself. Especially so when there are many speculative activities happening. Just look at the currency market and we can see fundamentals are not always that important. The expectations from buyers? Well, for those who needs a home, always aim at affordability. Waiting forever to buy is not an awesome strategy. The expectations from developers? Of course for some indicators that will help to lift sentiments and thus a bigger group of interested buyers for their homes. Happy following.

written on 6 June 2017

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Shah Alam’s ‘Damansara Heights’ – RM88psf (only the land lah)

Reported in The Star recently.  If you are expecting to buy at RM88psf, you are both right and wrong. Wrong because not even low cost projects can be built at cost of RM88 psf. Right because RM88psf is indeed a real price tag but it’s for a piece of land in Shah Alam at Section 13. This area is said to be the most matured and prestigious in Shah Alam. The buyer is non other than another famous developer, Mah Sing. The total land size is not huge but still sufficient for a project with a potential GDV of RM2.5 Billion.

According to Mah Sing group managing director cum group chief executive Tan Sri
Leong Hoy Kum
, the developments there would include super link houses, linked semi-detached, semi-detached, bungalows, serviced apartments and some commercial components. The launching is only due in 2016. I think if I have sufficient downpayment, I would start looking at Shah Alam as another potential choice too because the prices continue to increase and with more well planned developments, this can only increase.

A short brief about Shah Alam. It is the capital city of Selangor. The first time I went to Shah Alam was over 12 years ago and when I visited it again few years ago, there are now so many developments. So many nicely designed landed properties there. According to some online stats, the approximate population there is around 640,000. Not considered huge but I think it will continue to increase because for the same amount of money for an expensive condo in Bangsar, you can get a large piece of landed property in Shah Alam.

Recently I brought my family to Setia City Mall from my home in Kelana Jaya. My friend told me that it would take me 30 minutes. I actually reached in just 22 minutes despite not really knowing the route etc. As for how is Setia City Mall versus Paradigm mall which is only less than few minutes from my current condo, I will write another article about it. Do you see why it can be a good place to stay now, even IF you are working in Petaling Jaya? Oh yeah, I still have to let you know that during the jam hours, it is really jammed. I think I need at least an hour for the same trip, if not more.

Thinking big and still lower when compared to the actual Damansara Heights? Shah Alam may just be your choice.

written on 14 March 2014

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Shares are long term, not for speculation. My 2 cents.

Yesterday, my sister-in-law Whatsapped me. She asked, should I sell HOVID share now? I said, since you have already earned good profit, why not? Just make sure you have another stock to buy. Otherwise, that HOVID is worth keeping for a while more. 2014 and beyond would be a good year. Then, she said oh, if that’s the case, how high can it go? I laughed and said, if I can know, then do you think I still need to work full time? She laughed too. Honestly, no matter what investment we do, as long as we have earned a good profit, we can always sell and then invest in something else. Typically, if I sell some shares, I would buy another share.

Then, today I read about shares of Guocoland jumping up suddenly because it announced a slew of new developments worth RM2.5 billion. I do not know much about Guocoland. However, one friend said before that Guocoland is a good developer. Most of its launchings are sold out. Besides that, Guocoland also have a huge land bank. It has 4,046ha in Petaling Jaya, Rawang, Cheras and Sepang. In Jasin, Malacca it owns another 1,618 ha. Let’s assume Guocoland is a good company. However, should the share price jump with just an announcement? Think objectively, how fast can this announcement can be turned into sales. How fast can they build the project, handover and get the gross profit for the project? I think you have the answer. If you intend to hold this stock because of its attractive PER or you are a long term investor, then perhaps it’s a good buy. However, if it is purely because everyone’s buying, I think the rationale is incorrect. You may be lucky a few times, buy early, sell quickly but no one can be lucky forever.

My advice to my sister-in-law remains the same. Research the company. Understand its business. Know its management team. Buy stocks which are undervalued because it has no speculative properties. Most of the time, you would need to hold for a while but if the company is turning in profits, the rise in share price is certain. If the rise in share price is because of any other speculative reasons, then good luck. I wish you the best. I seldom buy the typical blue-chips. I will research and find my own blue chips to buy. Most of the time, a sound business and the company having little or no debts. Only problem, it does not go up fast…….   Oh yeah, my sister-in-law will start reading The Edge for more business knowledge beginning this week. She’s a fresh graduate entering the workforce.

written on 31 July 2014

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Sharp but Short recession means V-shaped recovery?

Nope, let’s not talk about the second most advanced economy in ASEAN today. Yea, still Malaysia and not any other country yet. Could Malaysia’s economy grow if the whole world is under lockdown? Definitely not. Could Malaysia’s economy be having a double digits growth next year if the whole world is still having a small single digit growth? Possibly but very hard. What happens then if the whole world will recover in 2021 to the days before COVID-19? Oh… this will be very positive for a trading nation like Malaysia.

Today, we talk about the world economy and what a multinational investment bank is saying.
Specifically, Stanley Morgan.

The article is in markets.businessinsider.com

Morgan Stanley says the recession happening currently will be “sharp but short” and will end by 2021 as economies surge to pre-pandemic output levels.

It tells its clients that the global economy is entering into a new expansionary phase which is “more normal than appreciated.”

It says the world economy will hit bottom with a 8.6% contraction in Q2 2020 but will swing back to 3% growth in 2021.

Assuming a second wave hits the market, “selective lockdowns” will prevail and the world will not reenter strict lockdowns like today.

Its views are in a long and comprehensive article. Please do read it to understand in-depth why they say so yeah. Read it here:
The article is in markets.businessinsider.com

This is what Investopedia says about V-shaped economic recovery:

“In a V-shaped recovery, after the economy suffers a sharp economic decline, it then quickly and strongly recovers. Such recoveries are generally spurred by a significant shift in economic activity caused by rapid readjustment of consumer demand and business investment spending. Because of the rapid adjustment of the economy and the quick recovery in major aggregate metrics of macroeconomic performance, a V-shaped recovery can be thought of as a kind of best-case scenario once an economy has hit a recession.”

Two very important things inside the whole sentence. #1 is consumer demand. #2 is business investment spending. Going back to the fundamental of any economy would be demand and supply. Property for example. Developers will build as soon as they see many buyers want to buy. Supply thus follows demand. Buyers may also start buying if they reach a certain stage in their life and they need a property of their own. Here, the demand appears and it will drive the supply.

Both of these would depend on confidence level. Confidence level depends on how sentiment changes. Of course, if the whole nation is under high unemployment rates, then none of these which we are speaking may happen. For demand to appear, the people need salaries and for salaries to happen, they need to work and for them to work, they need jobs. For jobs to appear, the employers must have demand… Oops… then what happens first?

Haha. This is why the
 Economic Recovery Plan (ERP) and the famous Penjana
does not seek to just mend one side. It seeks to help both the demand and the supply sides too. Once the wheel turns, then all is well. Pushing the wheel to start turning is the thing which all governments are doing currently. Let’s wish them the best.

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Stay ‘strong.’ Shed the ‘depreciating’ debts

During tough times, opportunities abound. Reason is pretty simple, really. Not many new businesses are starting and even existing ones scale back or close down due to inefficiencies. Thus, identifying a niche and starting it during tough times meant that there are fewer competitors, cheaper too most probably. For properties, there are definitely sellers who overstretched themselves. During good times, they do not feel they were overstretched as they were able to rent out their properties easily. Now, imagine if half of the units remain vacant for 3 months? Or even when rented out, the rental was down 50 percent? Yes, we get a motivated seller. Read here:
In a slowing market, sanity returns.How true.

What about those credit card statements? When was the last time we looked through and identify those we should not have spent? Most of the time, there are lots of them. We missed it because it was not spent using cash. Even worse, we overspent what we usually earn every month, thinking by next month everything would be back to normal. Well, that was what many thought before everything spiralled towards one being declared a bankrupt. Read here:
Bankruptcy before property,not after property, perhaps

I used to love the Nissan Sunny my father handed down to me and drove it for 13 years, until the speedometer reached 700,000km. Yes, 700,000km. With regular services and maintenance, a car lasts a long time. Yes, even a second-hand one unless we are extremely unlucky or we still prefer to buy something which is already known to be unreliable. Do not worry too much about loss of face. Without driving at least a Segment D car, there’s little need to feel that we have ‘arrived.’ Read here:
Sen wise, ringgit foolish
 Oh yeah, even when we can afford such a car do note that it will lose 50 percent of its value in 4 years’ time? Thus, buy one when we have lots of spare cash, okay? Delayed gratification. My Nissan Sunny was traded in for a Proton Persona which has been my favourite ride for over 5 years (80,000 km currently), especially against the many ‘floaty’ Segment B cars around.

Last but not least, what about those times when we felt that we deserve a break with a cup of latte in a nice café? After we ordered the latte, we ordered another slide of cake to go with it? Haha. Yes, even when we are using cash, we may miss out all these ‘small’ items which will accumulate into a big one. Imagine just 4 times of the above scenario, it would already be around RM100 per month! Doing it 12 times per month for 10 years is already RM12,000 ‘loss.’ To earn RM1,200 ringgit in interest, we need to put RM30,000 into FD for 12 months!
Save one-third to have two-thirds when we retire
  Pretty crazy, then why are we doing it? These days, I really have cut down my Starbucks trips by half. I seldom order any cake to accompany the latte too because I needed to cut some weight too. Haha.

What goes up must come down. Ringgit was once the top few performers in Asia. Today, it’s down. I think it’s clear that with China’s continuous slowdown, more bad news are coming. Yes, even for some currencies perceived as stronger. It meant that the overall sentiment is likely to be negative for some time and it’s so important that we gain something from this current loss in confidence. What has gone down will start to recover in future, look to China for signs and not primarily the US. If the same benchmarks are used for all countries, there’s no way some developed countries are rated so high. Be savvy about this; rating agencies are all from developed nations too. Happy reducing what ‘depreciates’ before we lose more than what we could gain.

written on 16 feb 2016

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Oil prices remain low, Shell retrenching another 2,200

I was having a farewell lunch with a colleague recently when I learnt that his friend who used to work in an oil giant was retrenched many months back and has not yet found a job. He was earning far too high previously and new companies either could not pay or worried that he would suddenly leave as soon as oil prices recover. Sad but quite true. However, oil prices are not likely to recover anytime soon because the power of oil producers have been halved. US shale oil producers are now as powerful as the Middle Eastern nations. This is partly the reason why oil cut decisions or tensions in the Middle East today has not caused the oil prices to go haywire.

I just read in The Star that another oil giant announced that it will cut more. By the end of 2016, Royal Dutch Shell will cut a total of 12,500 including 2,200 announced on Wednesday. The main reason? Weak oil prices. Out of the 2,200 job losses, 475 will be from its upstream UK and Ireland businesses. Shell its cutting its expenditure swell as selling US$30 billion worth of assets to cover for the shortfall in earnings. Shell however said that as they continue to hire in IT and graduate level, total net job losses in 2016 would be lower than 5,000. I seriously do not think those earning huge salaries in their and gas industry are very happy currently.

Personally, I do believe everyone in the world should adjust to the low oil price regime. The reason is very simple. The cost of oil production from the traditional producers are extremely low and with cost cuttings especially that of manpower, it will remain low. Meanwhile cost efficiencies from shale oil producers meant that many continue to produce even at current oil prices. In other words, no one is stopping its productions and in fact increasing it since the current oil price is above their costs! Do google ‘shale oil producers’ to read more. Oh yeah, for those staffs who were retrenched, they would most probably be willing to accept lower pay and this meant that the costs of production drops even further! My colleague would argue that along as a war happens in the oil producing countries, the oil prices will spike. I hope I am right because wars benefit no one, really. Happy understanding.

written on 25 May 2016

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Press Release: Sheng Tai International Establishes RM10 Million Fund For Retail and Franchise Industries

Sheng Tai International Sdn Bhd (Sheng Tai International)
, an award-winning home-grown developer and a proven specialist in property tourism, today unveiled its RM10 million fund to support the growth of the franchise industry in Malaysia.

The fund is accessible to the entire franchise community who are members of the
Malaysian Franchise Association
 (
MFA
). These include franchisors, would-be franchisors, master franchisees, would-be master franchisees as well as suppliers and vendor of franchises.

The launch of the fund was marked with a signing ceremony between
Sheng Tai International
and MFA, which was represented by Dato’ Leong Sir Ley, Founder and Chairman of
Sheng Tai International
 and Datuk Dr. Radzali Hassan, Chairman of MFA,

Dato’ Leong Sir Ley, Founder and Chairman of Sheng Tai International, said
, “Today’s unprecedented operating landscape presents multiple challenges for local entrepreneurs and businesses.”

“
Sheng Tai International
is in a unique position to provide support for the local business community as we are able to leverage on our strategically located property assets, our presence in Greater China and other countries, our experience in sales and marketing as well as our extensive network of vendors and suppliers in Malaysia and overseas.”

“This fund is aimed to provide financial assistance to the franchise industry so that these businesses can overcome the difficulties caused by the Covid19 pandemic while seizing the opportunities to expand their business further, even beyond Malaysian shores,” she added.

Members of MFA will have access to up to RM200,000 interest-free financial aid upon terms when they open an outlet at one of
Sheng Tai International’s
 projects in Malaysia, namely “
The Sail”
 and “
Metrasquare”
,
 Melaka. Rental fees for the first six (6) months will be waived and subsequently a rental rebate for another six (6) months based on revenue sharing or base rent, whichever is lower.

In terms of marketing assistance, the member will get to market their products at
Sheng Tai International’s One Stop Centres
, located at Kuala Lumpur, Japan, Hong Kong and Shanghai and media partners for a period of time as well as be part of the fastest-growing membership programme,
Sheng Tai World Card Membership
, which has over 50,000 members currently.

Datuk Dr. Radzali Hassan, Chairman of MFA, said, “Year 2020 has been a tough year for all especially for the retail and franchise industry. Many businesses suffered great challenges during the Movement Control Order and Enhance Movement Control Order.”

According to the Minister of Domestic trade and Consumer Affairs, Datuk Alexander Nanta Linggi, food and beverage segment has dropped by 70% while education sector shrank by 80% during the Movement Control Order. There was shortage of workers, supply chain disruption and incurring operational costs despite no full operations.

“We are pleased to be working with
Sheng Tai International
 for this meaningful initiative. We firmly believe that this will play a part in spurring the retail and franchise industry.

MFA members who would like to know more information about this, kindly contact +6011 1851 3399.

–End Of Press Release —

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More smaller units below RM1 million. Is this the start….?

Remember the recent brouhaha over the
flip-flop decision of whether to freeze over RM1 million
 developments outright or to consider case by case basis? According to Knight Frank Malaysia Sdn Bhd research and consultancy executive director Judy Ong, the recent freeze on condominiums and apartments above RM1 million will encourage the development of more shoebox dwellings below RM1 million. Here’s that full article in
TheedgeMarkets.com

This is what she said, “Developers are expected to take stock of the situation by reviewing and re-planning their proposed products and may further defer property launches. We expect to see more bite-size units which translate to lower quantum pricing of below RM1 million coming into the market although moving forward, there may be risk of oversupply in this category of units.”

She also said that said that housing affordability is a key issue in Malaysia because the house prices have been trending up since 2010 and this has continued to outpace the rise in income levels. This is why the median house prices are beyond the reach of most Malaysians. She mentioned that many developers are now shifting to affordable housing. Ong also expects the demand for serviced office and co-working space to grow across a variety of industries such as technology start-ups and SMEs. This is also due to strong government-led initiatives by Malaysia Digital Economy Corp. She also shared that for conventional office spaces, the demand would come from those that are along rail networks such as the LRT and KTM lines as well as the Sungai Buloh-Kajang (SBK) MRT line. As for Tun Razak Exchange (TRX), this was what she said, “The TRX MRT station is one of the two interchanges between the SBK and the upcoming MRT Line 2 (the Sungai Buloh-Serdang-Putrajaya MRT line). Kuala Lumpur offers opportunities that parallel other western and regional markets, supported by [the] improving pool of premium and good grade office space and transport infrastructure, a multi-lingual educated workforce and competitive cost of doing business, amongst others.”
Full article in Theedgemarkets here.

First of all, I think (Yes, only an assumption) most of the buyers of above RM1 million homes are not for family stay. Especially those units around, next to and nearby city centre. It is more for lifestyle plus they could actually afford these over RM1 million properties easily. Thus, Judy’s assessment that more smaller units would be built so as to keep the prices below RM1 million seems valid. She said something along the lines of property prices rising faster than income.
Well, here’s my earlier article.

By the way, this does not happen only in Malaysia yeah…  She also talked about co-working spaces. Hey, I also believe it will be the future.
Office space and business networking at the same time. Best fit!

In terms of office space along the rail networks, this is definitely true because in many HR teams that I have visited for the past few years, everyone tells me that the number of staffs coming to work via public transport is actually growing. In fact, one major reason why people are accepting or leaving their jobs would be how near the office is to the rail station!  For me, I think when I could no longer bear the jams, I would have to resign. Fortunately, DUKE expressway is ensuring I arrive home on time everyday. Haha.

Her comment about ‘competitive cost of doing business.’ is definitely true. By the way, competitive does not mean just CHEAPEST cost yeah. Even if ringgit is lower than many other currencies but imagine you are a MNC and you are not able to find the right talent pool here in Malaysia, would you still set up here? As for the MNCs already here, if the talents are all outside Malaysia, would they still be here? No MNCs are here to do charity… Last but not least, when more smaller units start, it may be harder togo back to bigger units in the future.  Imagine a developer built 600 sq ft today for RM800,000. They will certainly not be building 800 sq ft for RM800,000 in the future…  It will most probably be 528 sq ft at RM800,000 in the future. Happy following.

written on 23 Dec 2017

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Did you get RM3,000 from Shopee to spend now and pay later? I did!

Updated 15th May. I still have the SPayLater of up to RM3,000 limit. Not yet used a single sen. What about all of you? Do you have it now in your Shopee App already? Or they are still selecting based on continuous buying behaviour? For comparison, I did close to 30 purchases within the past 30 days previously before this appeared.

There are NO links in this article where if you click, I will get any payment from Shopee.

Why do we spend more nowadays even if we kept saying we earn less

One reason we are spending more these days versus long time ago is because we have more choices to spend, we are bombarded with more marketing campaigns and of course the accessibility to such opportunities. I know the ‘long time ago’ because I started working at a time when Google was NOT around yet. I only started buying online when AirAsia started. Before that, better drop by the nearby shop / mall for items I need. These days, even my daughter knows how to click a few buttons and she could buy something to be sent to our home.

Shopee’s latest SPayLater (they give you money to spend)

Are you a Shopee shopper? If you are, you may have noticed the below as well. It’s called SPayLater. Briefly, you can BUY NOW and PAY LATER. I can say that this is a CONVENIENCE and it can also be a DANGER too. Especially to the ones who has issues with managing their expenses. Especially to the ones who already have issues with high credit card debts today. Take a look at the image below. All images are from the Shopee app. It showed me this option after I recently paid for a purchase. Buy now and pay next month!

How does it work?

I did not activate lah. if I activate, I may spend even more. I will tell you about my Shopee experience after this image.  There are installment options available too. How it works is this. Billing Date is on 1st of the month after. The due date is on 10th of the next month. So, we actually do not need to have the money now and we could still proceed to buy. Convenience or Danger? You decide.

Did they give this option to me because I bought a lot from shopee?

I look through my Shopee completed purchases slowly and realised that within the last 30 days, I completed a total of 29 purchases. Yes, 29. In other words, close to 1 purchase every day. Nope, I did not stay home all the time. Every weekend, I will still drop by a mall for window shopping and meals. Within last 30 days, I have been to 1 Utama, Sunway Pyramid and Paradigm Mall.  As for my thoughts about malls, here it is:
If all the malls are dying, you must be home all the time
.

When I asked around, my friends told me only two answers. Those who did not see this RM3,000 SPayLater in their Shopee App and those who had the same amount. In this case, perhaps Shopee is targeting those who are buying a lot than the average? One friend said he bought 6 times within past 30 days. He does not have this extra RM3,000 offer in his Shopee App. What about you?

It’s about CONTROL, okay?

Financial management 101? Here’s an earlier article:
4 pillars to financial success
.  Happy buying and at the same time, happy controlling your expenses and really buy only what you need. One good way to determine if you really need it? Every time you wanted to buy, let the decision hang in mid air for 7 days. By the end of 7 days, you should know if you should proceed and buy it. Did I spend the RM3,000?  Not yet. Take care.

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From a shopper’s experience: 6 things that malls can think about.

As a guy, I am not that ‘typical guy’ when it comes to shopping. I do not dislike shopping. I am a guy who loves browsing, comparing and occasionally buying the item if I think it’s of value even when it was not in my mind before I arrive at the mall. To illustrate briefly? I just bought a pair of Camel leather shoes 3 weeks ago and a pair of Li Ning running shoe 2 weeks ago. In total, I have 20 plus pairs of leather shoes (most expensive is only a GEOX) and a total of 10 pairs of sports shoes. (most expensive is only a pair of PUMA). I bought three new long sleeve shirts 3 weeks ago and current total should be around 30-35 (except for yellow which makes me look fat, I think I have all the other colours…). Let’s not get started about business pants and jeans… Haha. Anyway, I think malls would love it if every guy that walks into the mall is like me. So, perhaps I am qualified to advise them about 6 key elements that will make them more successful?

#1 element? FAMILY themed. Remember yeah, every time a mall attracts a family, that’s 3-5 people at one go. That is why some malls provide FREE kids’ playground… That’s why many restaurants offer ‘Kids Eat Free.’  That’s why many departmental stores offer a cosy Baby Room. This is also why when they think of key themes for the mall, it should be something which attracts the kids.

#2 element? Good F&B outlets. Go to any mall, even on the same row, some restaurants are much more popular than the others.  Identifying the good ones and offering them a good deal will help attract patrons which will benefit the mall as a whole. Getting in new ones will help too. No one likes to visit a new mall for ‘old’ shops which they could visit in other malls. Some good examples? KL malls should have good restaurants offering Penang, Melaka, Ipoh food and more.

#3 element is the ‘affordability vs quality’ focus. Let’s get real. Most Malaysians want a pair of good jeans for RM69.90 or lower these days. They do not need a RM149.90 pair of jeans these days. They also want new designs every now and then when they visit.  If I see the SAME T-shirt on display when I visit a store one month later, I will NOT visit the store again.
These are some of the brands which are doing well these days.

For luxury brands, a mall needs MANY of these and it’s not sufficient if there is one or two within the whole mall.

#4 element is the never ending events. Understand that good events attract lots of people. Pull in these events by offering them really attractive rates. Stop charging every event the SAME rates. More people means more spending and every outlet in the mall will get some business in return. Imagine walking into a mall with a happening event and the mood immediately improves versus a quiet mall.

#5 element is a good supermarket brand. There are supermarket brands which are closing many stores and there are supermarket brands which are opening ever more stores. Supermarket completes my visit to a mall. Instead of going to a supermarket on a separate trip, I can now do it during the same trip. Some good ones that I love? Jaya Grocer (neat and easy browsing experience), HERO Market (some promotions are pretty good) and even COLD Storage (the cafe inside is a plus).

#6 element is SAFETY and CONVENIENCE. Guards who can converse in English or Malay is a minimum requirement. Well lit car parks and good indicators so that I do not need to use 40 minutes to find a car park is really useful. Please place machines to pay for my parking tickets on ALL floors. Let me tell you that my second trip to a mall which made me wait half an hour to pay was one year later!

These are the 6 elements which I love. I have no idea if it will attract all other shoppers yeah. If I missed out some items, please do comment yeah. I can add it into this article if it’s something very relevant to other shoppers. It’s a competitive world out there for shopping malls and the good ones (regardless of size) will prosper while the bad ones will flounder.  Happy doing ever more to attract shoppers because there are going to be ever more malls opening up here in the Klang Valley.

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written on 15 Sept 2018

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Shopping experience will evolve, that’s why malls can still prosper

I have written about the fact that online shopping is not going to kill all malls. Here’s a few:
Online shopping to kill malls? Not during my generation, for sure

or even this one
:
My MUST HAVE list for malls, both old and new

Come on, new couples need some place to understand one another well before they get married, right. A good mall allows both to know the brands they like in a comfortable environment. Surely, new couples would not want to sit somewhere and do online shopping together right? These days, VALUE matters more than price and I think consumers are getting smarter, especially when it comes to money. A comfortable long-sleeve shirt at the right price is by far more important than a branded but only equally as comfortable. Anyway, when was the last time our friends look at the brand we wear before deciding if they wish to continue as a friend? This is why the composition of retailers in malls are changing. New brands with good quality and more affordable prices are replacing those of good quality but higher prices.

Anyway, here’s a comprehensive article from Tan Hai Hsin, the managing director of Henry Butcher Retail. Please refer to
his article in TheStar here: Malls,not dead yet.
  With the article, he mentioned these brands: H&M, Mango, Zara, Uniqlo, Padini Concept Store, Brands Outlet, HLA, LC Waikiki, Max Fashion, YFS and others are also invading the prime area of shopping centres. ( Out of these, my favourite stores are now LC Waikiki and Max Fashion. They really do give great value for clothing. Did you know that Zara jackets for man may be as cheap as RM249 when they no longer have full range of sizes for it? Usually, the last few random sized ones. )  He also shared one important fact too: “Bigger supermarkets that is 30,000 sq ft and above as compared to 20 years ago are now found in new shopping centres rather than hypermarkets that are 100,000 sq ft and above.”  (We want to do grocery shopping when we do all other shopping and hypermarkets no longer have what it takes to complete with malls which has everything including comfortable and well stocked supermarkets)

Beyond just these, malls are now home to many new entertainment components. For example I have thoroughly enjoyed a physical experience in District 21 in IOI City Mall. It’s really challenging for someone who’s 40 okay… My wife has enjoyed the virtual reality experience in The Rift in Mid Valley Megamall and we are looking to try out the FlowRider and AirRider in 1 Utama. These are not replicable by online shopping even if we have VR specs yeah… Next would be the setting up of property sales galleries.  These allow customers to drop by and enquire about potential properties to buy instead of having to drive all the way to the sales gallery. Some examples of these include WCT sales gallery in Paradigm Mall, OSK Property sales gallery in The Atria and LBS Bina sales gallery in M3 Mall. (There’s also the Sunway Property sales gallery in Sunway Velocity too)  Here’s that article i
n TheStar.com.my for reference.

Please do agree with Mr. Tan Hai Hsin (prominent property personality) and Charles Tan (a small-time blogger) that malls that continue to keep up with latest trends will always survive the onslaught from online shopping. In fact I just came back from an indoor circus inside a mall in JB! Yes, not just cinema but an indoor circus! Here’s that story:
MCM’s London Musical Circus in JB – My kids love it. Bring yours.

As for online shopping, that’s going to grow bigger for me. These days, I receive stuffs on a weekly basis from Shopee.com.my which is now my favourite versus Lazada.com.my and 11street.my The latest was Mini-Force T-shirts which is a favourite show of my son. Let’s have both yeah.

written on 31 Aug 2018

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Shopping News: Coach Airways in Freeport A’Famosa

If you love shopping like me, here’s another place to shop in Melaka

I love to shop. When I was in Nashville, US last year, I bought quite a number of handbags for my wife. I have roughly 70 long sleeve shirts, 36 pairs of shoes, 15 jackets and maybe 15 pairs of jeans. In fact, I think Shopee loves me a lot and gave me this offer too. I have not taken it up lah. I do not buy so much in Shopee that I have problems in paying for it. There’s another place to shop for Coach branded goods in Melaka.

Article in travelandtourworld.com
  Coach announces the opening of Coach Airways, an immersive pop-up experience celebrating the house’s distinctive New York attitude and spirit of innovation.

The first retail concept of its kind, Coach Airways is located at Freeport A’Famosa Outlet, a popular shopping destination in Malacca, and reimagines the house’s American design language to create a space where customers can explore and shop a Coach collection curated exclusively for Coach Airways.

Coach Airways is built inside a real aircraft spanning across 4,198 square feet. Blending Coach codes with architectural elements that reference the ‘70s golden era of air travel, the space features a cockpit as well as passenger and lounge cabins in retro colorways and prints, reimagined with iconic house touches like Signature that reference Coach’s legacy of craftsmanship. Do read here for more details on the Coach Airways outlet.
Article in travelandtourworld.com

I don’t think my wife would ask me to bring her to this Coach Airways but I will bring her anyway

I bought her a Tumi tote bag before. She’s no longer using it. I bought her a Coach handbag before. It’s somewhere inside our room. I have also bought two Kate Spade bags for her too. One’s a dinner handbag, another is a backpack. She has started using the backpack after some reminders from me. The other Kate Spade is still new. I bought her a Calvin Klein bag too. She says no time to keep moving her things from her current Kate Spade to any other handbags everytime she has to go out. None of these bags are full-priced items. All were purchased overseas at outlets. She is using a Louis Vuitton wallet now, also bought by me. So, I am a shopper. My wife’s not really… When I go to this Coach Airways store, I will write another story.

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Shopping for secondary units? Good time as per MIEA (Penang)

Until today, I have friends who refuse to look at the secondary market. First of all, there’s nothing wrong with whether it’s primary or secondary. However, these friends also commented that primary properties are either too expensive in the places they desire or too far away if it meets the price they were willing to pay. Now do we wonder why so many are still renting and spending away their extra money and in the end, making the property prices seem even more expensive.

Of course, there are those staying with their parents and thus are not pushed at all to buy one. After all, the rental market is also bad currently… right? Haha. Let’s look at what Mark Saw, chairman of the Malaysian Institute of Estate Agents (MIEA) Penang branch said in a Malay Mail article recently. Full article
here
. He said current conditions in the Penang property market is good for potential buyers. This is because the
prices are weakening
 due to more projects being delivered by end of 2016 as well as the the usual complaint of difficulties in getting loan approvals. He said, “We expect a slight dip in pricing in the secondary market at the end of the year as we are expecting at least half a dozen projects to be completed at the end of this year.”

He also explained briefly on the three groups of buyers who are still thinking of buying. They are new home buyers looking for their dream home, investors waiting for lower prices to start buying and even state natives who’s working abroad and thus could afford to
buy property here in Penang
 due to the foreign exchange rate gains.

I think he is right on all three groups. However, just to add, I think the first time home-buyers may need to understand that their dream home may not be their first home. Seriously, how many Malaysians will buy the BEST property they could buy today and will always feel that it is the best and will never look at other properties in the future? Stay focused. That first property provides stability and forces us to pay for something that is an asset. This should be the right focus.
That ‘dream home?
‘ It can always be the second property or perhaps a future upgrade. Happy viewing secondary properties in the upcoming Malaysian Secondary Property Exhibition in Queensbay Penang on 22 – 25 September 2016. Cheers.

written on 5 Aug 2016

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Sigh…. always short cut, always immediate returns

Google for ‘Diploma mill’ or ‘fake degree’ and you would understand why it’s so EASY to get a qualification which actually meant nothing than a transaction between you and the vendor. As usual, it’s also easy to blame the authorities for doing enough but seriously, why don’t we blame these LAZY people instead? Yes, I have a few friends who has these fake MBAs and PHDs. Yes, I do tell them directly that I don’t treat these qualifications with any value at all. For them as well, many did not dare to be too open about it as well.

It was reported in the media recently about a CEO who falsified his degree certificate for a job. His actions were discovered and he was fined RM4,500 and thus need not go to jail. I have been a hiring manager for many positions and one thing that I always look for would be whether the qualifications are genuine or are they dubious ones. Do note  that any qualification which rewards you for work experience and tells you to submit just some paperwork is most probably FAKE. If we intend to have one, work hard for one. My wife was so stressed from her MBA that upon completion, she told me that she will ‘kill me’ if I were to ask her to go for PHD. Yes, both my wife and I have just a local university MBA which we struggled to complete while working full-time.

Actually, this is also the same reason why so many people think of property investment as a ‘lottery’ to millions. This was in the mind of the many millions of property speculators who caused the 2008 mortgage crisis in an advanced country. Well, even as at this week, a friend from the industry told me that there are still many of these ‘quick-rich’ property schemes around. I just sighed. My simple advice is this, ‘when everyone we know is able to buy and sell without any restrictions, it’s best to stay out of the market.’ Fortunately, this is not widespread currently. Let’s hope this remains as it is.

written on 20 Aug 2016

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Should have, Could have and If only when it comes to property

I saw a Facebook image by a friend. It was ‘liked’ by many and I think it’s appropriate that everyone of us gets reminded again of what we did not do many years ago and the regrets of today. Let me start by telling you about some regrets that I have. They are all investment related. Haha. This is after all a site called kopiandproperty.com and not some relationship or politics site lah. When I bought my second property,
Regency Heights
,
I actually booked another unit. Honestly, at that time if I were to proceed, my wife and I would have struggled like crazy to pay for three homes at the same time if we could not sell or rent it out once its completed. We were staying in our first apartment and the second one was supposed to be an upgrade. We would have to use up everything we have under the ’emergency fund.’ We gave up the booking after 2 weeks. We were worried if we proceeded, we may go bankrupt. Anyway, to cut the story short, if we proceeded, it would have been a huge profit and it could help us in buying more properties. Should this be a regret? Haha. What if what we feared did happen? It would have been the end of the ‘investment road’ for us and we were both still young then.

I love stocks and I normally buy stocks which people would normally look at me with a strange look. Many years ago, I bought Vitrox, a small Malaysian company. I sort of know the people working inside and they work extremely hard and some even stay behind for OTs and even during weekends. It was only 67 cents I think when I first started. I continued buying up to a point that I felt that if I were to buy any further, it would be extremely dangerous. Again, I refrained from touching my ’emergency funds’ or even sold my property to fund it. I felt diversification was important. Vitrox suddenly jumped due to successive good results and today, it’s trading at RM3.55  I should regret because if I had bought more, the profits would have been enough to cover many units of properties! However, what if the world market collapsed?

My parents bought insurance to ‘protect’ me when I was younger. When I started working, I increased what they bought. When I got married, I increased the amount I bought. I added in a medical card despite my company covering me with a medical card. I bought insurance for my two children too. It has been smooth sailing for me all these years and I am so glad I have not claimed much from all the coverage I bought. Should I regret that I have wasted a lot of money because if I did not buy them, perhaps I would have had more money for travelling, a new smartphone or perhaps upgrade the current car I drive? Seriously, what if something did happen?

Dear readers, there’s little need to regret what we did or what we did not do. Personally, the most important thing is always to understand what we should do and make a decision to do it. Anyone without sufficient business experience but starting a business would most probably fail. This is the same as buying a property without even checking what’s the current value and what would be the risks involved. If the price is too high, we may be the last one to buy and the first one to lose money when the market crashes. If the price is too low, somehow something is wrong somewhere. Else, how did you get that offer in the first place!? Happy deciding today or regretting 5 years later. Choice is yours.

written on 6 Apr 2016

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Should I be worried with property market post Covid-19?

Perhaps this is an article for some of us who are worried with the property market post COVID-19.

This article was first published in Real Estate Malaysia (REM) magazine which is also Malaysia’s leading Chinese property magazine. If you like to read the full English version instead, it’s right after the two Mandarin pages. Basically it discusses the potential happening of the property market post COVID-19.

Should I be worried about property market post COVID-19?

The oil price has been falling for a couple of weeks now. My wife told me that she was surprised that the price of a litre of petrol is now so low. I laughed and told her that with the world oil price affected by COVID-19, we will get to enjoy cheaper petrol for a while more

A good friend told me the other day that COVID-19 has affected the oil price so much that the next thing it will affect would be property prices. Well, if we are to really read into the oil production versus the oil consumption, it is very clear that the supply continues to be far higher than the demand.

However, prices have always been much higher than currently because the oil price was also dictated by a few huge oil producing nations too. This oil price ‘co-operation’ has been temporarily halted. Go online and read more about it if you want to. Very interesting theories and stories too.

In my opinion, oil prices should be less volatile and it should not be dictated by all these speculative buys all over the world. You buy oil because you need to use it. You do not buy oil to trade… If it’s just based on the production cost plus logistics and a profit margin is added, then there’s not even a need for all these ups and downs. Then again, if it’s that straight forward, then none of these ‘investors’ in the oil market would exist and they would have to play their games of buying and selling oil future contracts elsewhere.

Coming back to the property market, it is also the same. Imagine the chance for a property price to be determined ONLY by adding a certain agreed industry profit margin and then every year, the prices will move upwards by a fixed percentage across the industry? In other words, all developers have the same profit margin and perhaps building almost the same product then? All owners would also find that their property increases in price just like every other property in the whole nation!

Oil is a commodity. Yet the price fluctuates. Controlling property price will be impossible because of different locations, different sizes, different available amenities and even different developer brands? Some carrying a higher premium than the rest? Since the oil price is said to be affected by COVID-19, would property prices be affected by COVID-19 as well? Actually it’s not such a straight forward answer yeah.

Very briefly, COVID-19 will cause people to stop spending money since they will not be going to the malls. This will affect businesses which may have to retrench people and the people would then be having no salary and thus could not pay their monthly home mortgages and then the banks will move in and auction those properties, usually at a lower price than the market. If we look at this as a story happening often, then yes, COVID-19 can indirectly affect the property price

Short answer to the title of this article is Yes, property market post COVID-19 will be affected somewhat. It affects the sentiment and sentiment affects the owners and well, the prices too. Long answer is that it will only be for certain segments and not for all and everything depends on how long COVID-19 will stay.

Truth is, if people still have a job, they will not be willing to sell their properties at lower prices and they will prefer to hold on to it instead. This is even more so for some owners who have rented out their properties. For them, it is even more unthinkable to sell their property for lower prices simply because everyone is scared of COVID-19. To them, if the rental continues, nothing changes.

Last but not least, happy identifying the potential properties to buy especially during current buyers’ market. Just be realistic and opportunistic about it. Waiting and doing nothing will amount to nothing.

— end of article —

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Should I buy the 3rd car park?

If we are buying a new place with two car parks and there are available car parks for sale, should we buy one more? These days, all condos should come with 2 car parks. Read here:
Condos should NOT come with just one car park

A lady wrote in to ask about this. She had just bought a new apartment in Penang. It came with two car parks and she was offered the opportunity to buy one more for RM35,000. Her reason for buying? Her son would most probably be driving to college next year. In other words, that third car park would be for her son’s use.

I wrote her an answer as below:

Start of reply

I think emotionally you believe another car park is needed so that your son can also park his car within the condo. Let me tell you the financial aspect. If you rent a car park instead of buying. Typical rental per month is RM80 if not higher, depending on the condo. If it is RM80,then it’s RM960 per year. This is a total loss every year.

Assuming, you take out RM35,000 from your FD to pay for this car park. This RM35,000 FD would give you about RM1,400 per year. This is about RM117 per month. If the car car rental does not change at all and remain RM80 forever, you lose RM37 per month or RM1.23 per day. I would definitely choose to lose RM1.23 per day for the following:

1) Safety (instead of parking far away and walking when I come back at midnight etc.) – For your son, might be weekly….

2) Convenience (Rain / park faraway etc.) – Nearly daily….

3) It’s impossible for car park rental to stay at RM80 forever…. (In KL, the car park rental is typically Rm160 per month) – proven in KL.

4) You can afford it. (For those who couldn’t and needed to borrow money from relatives etc, I think better not buy lah)

5) In future, three car parks would be advantage if u want to sell your place.

End-of-Reply.

One important point I missed. This is in Penang. Car parks are definitely a premium today and in the future. Actually, there are lots of other reasons why more car parks would always be better. Seriously, if we can afford it today, better buy today because we may not be able to afford it in the future. RM35,000 per one car park slot? It may not stay this way forever. Happy buying and enjoying the 3rd car park.

written on 9 Jan 2016

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Should our parents continue working after 60?

This article is aimed at people who has forgotten to look after their parents because they are too busy working or said it’s just too expensive to look after their parents. Sorry guys. You have gotten your priorities wrong no matter how successful you may be today.

I was at a supermarket called Fair Price in Singapore yesterday evening. When I was paying for my stuffs, I could not help but noticed that the three cashiers on duty were all elderly people. Still looking very fit but definitely over 60. Perhaps these elderly person are working because they just want to fill up their time. Perhaps the mandatory retirement was not yet reached; 65 years old. Perhaps it is for some extra pocket money. Perhaps they did not want to waste time chit-chatting while drinking kopi-O. No matter what the real reason or how valid they may be, I would never allow my parents who are both over 60 years old to work unless they insist on it with valid reasons. Yes, you can say that I am a ‘dictator’ where this is concerned.

The typical activity for my parents, daily would be for a breakfast at a nearby café in Ipoh. They walk there. After that, maybe a trip to the market with my aunty. My mother would then cook a simple lunch while my father watches television or reads newspaper in the wet kitchen. They communicate a lot and talk about every topic under the sky including their children which includes me and these days, perhaps a lot more about their grand-daughter. That’s my baby girl. After lunch, both would watch television together. Their favourite? World news or Taiwanese serials which never ends even after hundreds of episodes! In the evening, my mum would cook a simple dinner and then they would join my aunty for a stroll at one of the few hypermarkets around. They would buy groceries or fish for my brother, my sister and me if we are going home during the weekends. Her total normal expenditure per month is easily covered by the pension and she still saves monthly.

Personally, we should do things we love when we retire. It needs not be something fancy like travelling the world every week but I think a life like my parent’s is much better than 8 hours of standing at the cashier counter, working. To me, it is not the right way to pass time. Their children should take care of their parents and if possible, stay with them. My parents have cared for me from the time when I was a baby and even today my mum cooks my favourite dishes everytime I am home. Please do not say that if these elderly person can still contribute, they are ‘allowed’ to. If the contribution is in the form of mentoring and coaching the younger generation, sure! However, standing 8 hours per day at the cashier counter or even some working in food courts? They have contributed 75% of their life when they retire. How much longer do you want them to continue to contribute?

written on 23 July 2014

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Should Singapore follow China for property market ‘warming’?

The property market of Singapore for 2014 has been quite unpredictable. Read here:
Singapore property, prices continuously declining into 2015
  Sentiment continue to be dampened and the major reason was due to the government’s cooling measures. According to Chia Boon Kuah, the president of Singapore’s Real Estate Developers’ Association (REDAS), total transaction volume for 2014 is likely to be half of 2013. From around 18,000 units in 2013 to just under 9,000 units for 2014. Added to this would be the declining overall private home prices for the last four consecutive quarters. With a total of another 68,000 completed new residential units within the next few years, this will cause the vacancy rate to head towards 10 percent from current 7%. With more available units, the pressure on the market will increase even further. This is not good for the economy because a quarter of the top 20 listed companies in Singapore are property or property related firms. Due to all the cooling measures, the genuine home buyers among Singaporeans are still thinking instead of buying.

In other words, demand is still there, just like Malaysia. However, with the negative sentiment, the braver ones become worried and the worried ones become passive. Passive ones? They tell everyone ‘don’t buy’. That’s the worst actually. The developers built based on perceived demand but with the demand now ‘waiting’, the total supply suddenly shoots up versus the demand. With this background, would it be prudent for the Singaporean government to start relaxing some of the measures? Just look at what China has been doing recently for it’s cooled property market. Read here:
China’s Property Market Rescue Package Deployed

Knight Frank Singapore executive chairman said that the government is definitely aware that real estate is a big part of Singapore’s collective wealth. It is unlikely to allow this wealth to be threatened. However, if the prices are not stopped from going up too fast, the salaries would never catch up. As it is today, the SIngapore property market is already said to be
severely unaffordable by Demographia.

Personally, I think the Singaporean government is still doing a good job. Prices have declined due to the cooling measures but it is nowhere near the crazy increases of past few years. In fact the negative sentiment amongst the potential buyers would not be there forever. Once prices dropped to a level they are comfortable and the transactions start trending up, they will see this increasing sign and abandon their ‘wait-and-see’ attitude. A continuous moderation of property prices would definitely be much better than bubble building to an unsustainable level and under the worst case scenario, bursts! Don’t try to guess how much prices would go down before entering the market to buy a home sweet home. Instead think of what would be a reasonable price versus your current pay and buy one. Staying in your own property means you start paying for an asset and not rental which is just an expense. Happy waiting or buying.

written on 30 Nov 2014

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Press Release: People Matters- A Neighbourhood Is Only As Good As Its Amenities

Sierra Hijauan’s amenity-packed neighbourhood fosters better trust and social connection

In today’s conventional urban developments, amenities are almost always one of the unique selling propositions being offered to homebuyers. On top of giving a competitive edge to various development concepts, the constant innovation of amenities as part of the residential package offers various benefits that extend beyond the realm of aesthetics and convenience.

Regardless of one’s culture, family background or income group, all members of the community can benefit from having access to great amenities. Playgrounds, schools, convenience stores and malls, for instance, provide a good environment for social interactions and bonding activities among neighbours.

By creating a desirable residential that bestows the basics of every life in close vicinity to its residents, IJM Land’s
Sierra Hijauan
 believes in building valued community amenities as one of the pillars of making a community safe and successful.

Safety First

To ensure home safety, homeowners can always opt for measures such as home security systems that include home alarms and security cameras. Nevertheless, it is crucial for developers to safeguard residents’ peace of mind when out and about in the residential compound.

The key purpose of having an amenity-packed neighbourhood is to create an excellent space to live in — this envelops the feeling of being safe while walking around the compound at night, granting residents the freedom to carry out activities without fear of any danger.

In safeguarding the interest of its residents in the safety aspect, development such as Sierra Hijauan has endeavoured to provide 24-hour professionally-trained security that also includes security cameras at strategic locations, perimeter intrusion detection system and patrols in shifts.

“Having a professionally-trained team of security and a guarded community is hardly a ground-breaking aspect in today’s developments. But as it involves the well-being of our residents, security has become a basic necessity that makes everyone feel safe and literally at home. This is why we will never compromise on the quality of our residential security,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM LAND.

Social Connection and Family Building

As an established developer, IJM Land has long determined that the proximity of amenities contributes to feelings of neighbourhood satisfaction. Through the availability of over 20 facilities and amenities within Sierra Hijauan, residents from different walks of life can come together for communal bonding at the professionally built amenities.

By having amenities designed and constructed by seasoned professionals to maintain the first-grade quality, residents have no qualms about using inadequate facilities that might cause injuries, especially to more vulnerable groups like the elderly and children. To achieve this, Sierra Hijauan ensures even the most minute details when building amenities, such as the playground safety and properly-covered drains, to avoid any possible mishaps that might endanger the well-being of residents.

By designing, building and cultivating a safe neighbourhood, residents will then have the freedom to further explore the space and relationships, both with their own families and other residents, nurturing a thriving residential community.

Close to Amenities

In Malaysia, the quality and variety of amenities increase the value of properties. This also embellishes the fact that homebuyers are willing to pay more for houses that not only come with great amenities but are also close to other conveniences that make life easier. Additionally, areas that provide the convenience that reduces commuting times also fetch a higher value.

As the country focuses on public transportation as part of nation-building, most residents still rely highly on privately-owned vehicles to commute around in their day-to-day lives. From work and school to leisure, proximity to other amenities also contributes to community satisfaction and trust.

On the proximity front, Sierra Hijauan is close to several other established developments that offer plenty of other advantages such as eateries, convenience stores and laundries, among many others — these are available in Taman Melawati, Setiawangsa and Wangsa Maju.

In terms of staying connected, the development is also well connected to major highways such as the Kuala Lumpur Middle Ring Road 2 (MRR2), Duta-Ulu Kelang Expressway (DUKE), Ampang-Kuala Lumpur Elevated Highway (AKLEH), Jalan Ampang, Karak Highway and the upcoming East Klang Valley Expressway (EKVE).

“As a standalone development, Sierra Hijauan is uniquely situated next to the Hulu Gombak and Ampang Forest Reserve that offers vast biodiversity of flora and fauna. However, homeowners’ needs are always changing. Considering this, we needed to make the development more conducive for personal, family and community growth. With that, Sierra Hijauan is another one of our testaments to connected, secured and sustainable living,” added Dato’ Hoo.

For more information about Sierra Hijauan, log on to

https://www.sierrahijauan.my
/.

-End Of Press Release-

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Press Release: Sierra Hijauan Paves The Way With Sustainable Residential Landscape Design

IJM Land is committed to building safe and sustainable communities through unique landscaping

More than being a shelter from the heat, rain and storm, a home is a basic human need that is crucial to the quality of life. Realising this importance, housing in many developing areas in Malaysia, such as Klang Valley, have evolved over the years to accommodate other aspects that can add value to the lives of residents.

Landscape design has become a pulling factor for housing developments due to its benefits that span beyond beautification.. On top of the location, layout and amenities provided, landscape design has significantly contributed to a community’s vitality in recent years.

Known for its endeavour to innovate future-forward living spaces for Malaysians, IJM Land is committed to building more sustainable communities. With its resort-style residential development,
Sierra Hijauan
, the developer aims to continue leading the way in building more safe and sustainable residential landscape designs for its residents.

Over 32 acres of beautifully landscaped architecture

As an essential part of the residential area and environment, landscape encapsulates many elements, including plants and soil, water bodies, spatial configuration and design. With its sheer size, Sierra Hijauan has successfully harnessed the benefits of the 32.77-acre residential marvel that seamlessly integrates contemporary homes with Mother Nature.

Besides attractive residential aspects such as connectivity, convenience, quality and safety, Sierra Hijauan continues to attract homebuyers that appreciate well-planned and optimally-designed landscapes. One aspect of the development that continues to captivate aspiring homebuyers and residents is the exquisitely landscaped gardens and green area that make up 21% of the 32-acre development.

Designed with imagination and practicality, the landscape design in Sierra Hijauan consists of a few main highlights, including the Canal stream with invigorating walkways and bridges accompanied by the soothing sounds of cascading water. Incorporating a water body surrounding walkways and jogging tracks effectively enhances the natural ecosystem and encourages outdoor activity among residents.

The landscaping is further enhanced with a collection of vegetation, including blooming flowers along footpaths, nooks in tree perches that make rest stops fun, along with the shimmering swimming pool that ends in a floating pavilion. More than positively impacting the natural environment, the quality of the space, including social and cultural implications, psychological advantages and sustainable lifestyle, are further enhanced through thoughtful design.

“Landscape design has been an essential component of residential developments not just in Malaysia, but globally as well. Besides appealing to people’s visual needs, it serves as an important aspect that helps cultivate a sustainable environment and community. With that, we hope that our efforts in landscape design in all of our housing projects are able to encourage communities to integrate, socialise and become a tight-knit community,” explained Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM LAND.

Fronting a forested valley

Sierra Hijauan boasts simple and elegant architecture, further heightening the resident’s sense of grace and tranquillity. Coupled with a scenic location right next to the Hulu Gombak and Ampang Forest Reserve, upcoming homeowners can look forward to embracing a nature-integrated lifestyle next to the vast biodiversity of natural habitat.

Residents who prefer outdoor activities can also work up a sweat at the basketball court and jogging track while enjoying the fresh and cool air from the forest. As nature’s green lung, having a forest reserve next to your door ensures an endless supply of clean filtered air. On top of great natural scenery, one can also reap the benefits of healthier lifestyles and clean oxygen.

Top-grade security measures

Another key factor to building a thriving and sustainable community is safety. To this end, Sierra Hijauan has gone above and beyond to ensure that residents have complete peace of mind when enjoying their outdoor workouts, leisure walks and other activities within the gated residential compound.

“To ensure that residents can truly enjoy the amenity-packed neighbourhood, especially at night, we will mobilise our 24-hour professionally-trained security team, which will safeguard our residents through the strategic use of security cameras, regular patrols and perimeter intrusion detection system. These all tie back to our mission of providing a basic necessity in the modern world, which is the assurance of safety in our own homes,” said Dato’ Hoo.

For more information about Sierra Hijauan, log on to

https://www.sierrahijauan.my
/.

-End Of Press Release-

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Sierra Hijauan- A Solution to Your Modern Day Problems

Press Release: Sierra Hijauan: A Solution to Your Modern Day Problems

Embellishing the indoor of home and workplace with plants not only enhances the appearance and mood of a space but they are also proven to bring many other benefits that create a healthier you — by cleaning the air, reducing stress, boosting mood and increasing creativity.

As human beings, we are also naturally compelled to green spaces due to the evolutionary trait that perceives nature as food, shelter and comfort — the very things that fulfil our basic needs. Being in nature also makes us feel relaxed and safe. These factors gave rise to a recent boom of nature-inspired architecture by the local development industries over the past years.

An exciting addition to the nature-filled city life concept is IJM Land’s
Sierra Hijauan
, a resort-style residential development located in Sierra Ukay, Ampang. With Sierra Hijauan, being in the centre of the city also means breathing in fresh air from the forest in the vicinity of your own home.

Breathe the difference

Sierra Hijauan offers residential units next to the Hulu Gombak and Ampang Forest Reserve, which is home to the vast biodiversity of flora and fauna.  As a rainforest with a conducive tropical climate, the forest receives a healthy amount of sunlight and rainfall, contributing to the growth of dense vegetation. The conditions further support a variety of animals and provide nutrients for plants to flourish.

In turn, the residents enjoy the crisp, fresh, clean air from within their homes due to trees and plants’ natural air filtering function.  More than supplying healthy amounts of oxygen to keep a thriving population, trees can also filter the air — one acre of trees can absorb up to 41843 kilometres of carbon dioxide from car emissions over a year. Therefore, having a forest reserve as a backyard poses plenty of health benefits for the family besides acting as nature’s air conditioning that stocks unlimited cool air.

Peace of mind

The pandemic has caused much unrest in many people’s lives while directly changing how we work, study, and communicate within the safety of our homes. Catering to this shift in lifestyle needs and demands, Sierra Hijauan hopes that its residential concepts, designed to redefine urban living, will help its residents achieve peace of mind in their daily lives.

The development’s strategic positioning leverages the neighbouring green spaces to offer a peaceful and relaxing lifestyle. Together with the amenities and facilities available, residents can easily wind down while enjoying the simpler benefits of nature.

“As one of the most established developers in the country, IJM Land has always thrived by prioritizing the needs of our residents. Through top-notch facilities and ample spaces, Sierra Hijauan is another one of our testaments to innovate modern, liveable and sustainable living, which have proven to provide a variety of tangible and intangible life advantages,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM LAND.

Champion of overall well-being

In championing a post-pandemic residential design to improve lifestyle, Sierra Hijauan offers more than 20 facilities and amenities within its compound, including a swimming pool, picnic area, a meditation deck and nature trail. One of the development’s highlights, the exclusive clubhouse is where residents can utilise the gymnasium, games room and function room for their daily routines.

These facilities accommodate a variety of activities for residents, such as exercise, family bonding activities and appreciation of nature. With an abundance of greenery around, the availability of fresh air is ideal in alleviating health issues. For instance, health experts have found that those who lived near green areas, especially those aged 65 years old and above, slept better at night. By spending more time outdoors and breathing fresh air, serotonin levels are further stimulated to maintain one’s mood, appetite and overall mental health.

For more information about Sierra Hijauan, log on to

https://www.sierrahijauan.my
.

-End-

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Another sign of huge demand for a new property

Just a few days ago, I wrote about demand for property in Malaysia is likely to be huge. This is despite the fact that less Malaysian babies are born nowadays. In fact too few for comfort. Read here:
2015: Birth-rate dropped to 1.9 for Malaysia
   Today, I read in Bernama that under the MyHome housing scheme, about 90,000 applications have been received. This is a scheme where the private developers are taking the lead. This is a scheme under the National Housing Department and thus far, a total of 29 developers involving 31 projects with a total of about 10,000 units have been approved. This is out of a total of 98 applications submitted to build 108 housing projects involving 26,461 units since April when the scheme was launched.

The few states with the most applicants are from Selangor followed by Johor, Penang, Sabah, Sarawak and Perak.This scheme is aimed at first-time home buyers with household income of between RM3,000 to RM6,000 per month. Subsidy provided to these home buyers are up to RM30,000. With such a huge number of applicants, it’s obvious why many developers are applying to build. There’s already a ready demand and they do not need to worry too much about selling what they build like what is happening to some new launches today.

A check online for the details for MyHome showed the minimum allowable size is 800sf while the selling price ranges from RM50,000 to RM220,000 after a subsidy of RM30,000 for the qualified buyers. These prices are indeed attractive if the location is very convenient. However, if we need to get a home sooner, there are also options in terms of secondary properties below RM300,000.

The only issue perhaps would be the location as well as the condition of such properties. Sometimes buying secondary may mean more money for renovations too. The advantage is that these properties are already ready and the buyer can move in as soon as all the necessary processes are completed. Take a look at some available potential projects. I attached a sample from propertyguru.com.my Just check online for more. Be open, there are choices whether its a new one or a secondary one. Happy buying your first home.

written on 10 Aug 2015

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Significant. 2.8% Contribution from Prihatin to Malaysia’s GDP for 2020.

We know, the current projection from Bank Negara Malaysia (BNM) for Malaysia’s GDP 2020 is not rosy. It ranges from a high of positive 0.5% (yeah, this is a high) and a low of negative 2%. Everything depends on how soon we could overcome COVID-19 and for businesses to start moving back to its normal pace again. Thus, we have the Stimulus Package 2 with a total of RM250 billion which is expected to help as many people as possible to survive the current situation. How much would this RM250 billion be contributing to the economy as a whole then? Here’s what our Finance Minister Tengku Zafrul Aziz said.

Article in freemalaysiatoday.com
    Finance Minister Tengku Zafrul Aziz says the Prihatin Rakyat Economic Stimulus Package is expected to contribute 2.8% to the nation’s gross domestic product (GDP) this year. However, he stressed that the ability of the economy to recover also depends on how well and quickly we settle COVID-19 outbreak and he said, “all Malaysians must play their part.”

While there are the unexpected expected to happen, he said, “Nevertheless, we have the capacity and fiscal space to meet future uncertainties. The government is fully aware of the need to be agile and to respond swiftly.” He also shared this positive point. “As it stands, the financial system today has RM121 billion in excess capital buffer, as compared to only RM39 billion during the global financial crisis of 2008.”  Please do read the full
Article in freemalaysiatoday.com

I think we would have noticed that the number of new infected cases for COVID-19 in Malaysia is still over 100 but the number looks stable despite much higher number of tests being done. The number of recovered patients have also been healthy and has in fact showed signs of an uptrend. Hopefully this will continue and that all Malaysians are now very serious in helping the government to flatten the curve.

If we look at the world, to the two countries which was very badly affected; Italy and Spain, their number of new infections have also stayed flat instead of climbing ever higher just 2 weeks ago.
Here’s that latest COVID-19 update.
 Let’s hope that the U.S. would start to bring their number of new cases under control in the near future. My uncle in Hawaii told me that the town he was staying in looks deserted. Everyone was staying at home because there had been 4 COVID-19 deaths. So, I think even the Americans are starting to take this seriously. Happy recovering my dear world.

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Spotting signs of a property bubble, 3 points (updated)

On and off, there are comments on Facebook which predicted that Malaysia’s property bubble is about to burst. Currently, the most popular prediction is that of Iskandar. Actually, the main reason for all the cooling measures by Bank Negara Malaysia (BNM) is to contain any dangers of property bubble building up. So, do you want to know how to spot a bubble? Actually, there are always some warning signs before a huge bubble starts to form. In fact, it may be easier for you to spot it than to listen to all the conflicting opinions today. Let’s look at three prominent signs for a property bubble.

1. Sharp and continuous house price increase

If prices are increasing or even doubling in say 3-4 years, this is considered extremely sharp. Imagine a RM300,000 property suddenly become RM600,000 in 4 years? There is just no way that your salary would be able to catch up. Two years ago, the property prices in Malaysia was ranked top 12 in the world in terms of price increase. Read here:
‘12th Highest Growth in the world‘
 In terms of changes for the past 10 years, it clearly shows that the prices has indeed been rising but has not shown any sharp increases for the past few years, except for certain segments in certain locations. Overall basis, I think not yet.

2.
Affordable choices availability

This is extremely important. Imagine you are earning RM3,000 and every single property in Klang Valley is priced RM500,000 or higher. Would you be able to buy any property at all? Fortunately this is not the case. I do not want to go into the low cost flats but if we go online to any property websites like PropertyGuru.com.my or Iproperty.com.my, we could see that even at the lower range of below RM300,000 there are still many choices. Thus, in terms of availability of affordable properties even if its not at a hotspot, at this point in time, we are considered safe. We do not need to look very far, just compare to Singapore. Singapore government has undertaken many more cooling measures than Malaysia. Yet, the prices of HDB Flats of 1,000sf or higher, even at the fringes are hitting S$400,000 or higher. Please do not say Singaporean earns more. Number to number, their engineers earn the same as engineers in Malaysia. This can be verified easily online as well.

3. Bad Debts?

If the
non performing loans
 in the banking sector starts to increase at a fast rate or has been increasing for the past many years, I think we ought to be worried that perhaps it is no longer safe buying ever higher priced homes. Perhaps a lot of people are now unemployed and thus not able to repay their mortgage, causing their debts to become non-performing loans. If we refer to the chart by Worldbank, for Malaysia, in particular, this is not yet happening. In fact, the total non-performing loans continue to decrease.

Do note that there are no guarantee that all these signs may not suddenly deteriorate if something unforeseen happens. For example, another huge collapse of the banking system in Europe or US? Everyone should know that Greece economy is on the verge of financial crisis today. If you always monitor these three important signs, there is no need to listen. You know the answer. Happy watching and please report if you find anything huge happening.

edited on 14 May 2015

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