Retirement Homes – GreenAcres by TI Homes

It’s very tough when you are the first to the market with something new. For example, retirement homes. An even tougher part is to launch a new concept in a city where people generally believe that they live very well today and may not want to fork out extra for something they have no understanding yet. Yes, retirement homes in Ipoh. Many months back, I wrote about this and it garnered quite a lot of interest. Read here:
Retirement Village – What and Why?
 Recently, an Ipoh based developer Total Investment Sdn Bhd (TI Homes) held a ground breaking ceremony for its GreenAcres retirement homes. This is a gated and guarded project of 170 homes and a club house. There is also a further 3 acres for future aged-care facilities. I believe Ipoh is a very good place to retire and yes, I believe it’s better than Penang in many areas. Of course, Penang benefits from it’s much higher prominence by virtue of it having an international airport, it’s position as a manufacturing hub as well as more recently, the UNESCO Heritage City status. Ipoh meanwhile has the charm of a slow enough and yet vibrant when you need kind of city. From universities to smaller manufacturing industries as well as private hospitals and a huge variety of very delicious food, Ipoh has it all too.

According to its Executive Director John Chong whom I know personally, “GreenAcres will be Malaysia’s premier retirement village, a purpose built community that provides a superior lifestyle for citizens entering the golden years of their life. It is a place where senior citizens can enjoy good quality living while remaining active and independent, where they can age gracefully and with full dignity,” Okay, he did not mention the fact that these citizens should also preferably be able to afford one. Fortunately the price is pretty affordable even compared to the usual condo or apartment prices in Kuala Lumpur or even Penang. In fact in Malaysia, as the retirement age is 56, the target market is quite huge and if successful, there would be more retirement homes sprouting in every state in Malaysia. Both men and women are also living longer these days. Men, up to an average age of 72 and women at 77.

To those who believe retirement homes are just like old folks home, it’s okay, I have no intention to convince you not to go to old folks home. Please do go ahead. However, to those who have just retired, with kids working elsewhere, older neighbours moving out or presently living in a pretty big landed property without many people to talk to, do think about GreenAcres. In fact, why not just drop by and understand its concept. Wanting to get one is another decision altogether but there’s little harm in knowing more. Retirement homes allow for a community of the more respected generation to have the chance of closer interaction with one another. Thus, their lives can be more active, vibrant and definitely more independent. You decide what kind of activities that you want to do, within a safe and conducive environment. New acquaintances would soon become friends and these might be the friends who would be there for you when you need a few football mates to cheer with or cheer against. Please do not tell me that older folks don’t watch football? 🙂  Or you can listen to what John has to say, “GreenAcres will offer senior citizens, aged 55 years and above, the opportunity to enjoy a better quality of life,”

For those who think living in a condo is a good substitute for a retirement home, think again. How many times have we heard of people living in condos not knowing their neighbours? This is not because the neighbours are not friendly, far from it. Most of the time, when everyone is working, no one has time to talk to one another and during weekends, no one would want to stay at home. In a retirement home however, everyone would have much more opportunities to meet one another. The activities and the facilities would also help in facilitating this. You can say these people have similar age and thus the chances that their topics of conversation or interest would likely be closer. The units are also not for full ownership which meant that it would be occupied by senior folks all the time. The units are also built be elder friendly; grab bars in the bathroom, larger switches, wider doorways for easier wheelchair entry etc. The leasing fees ranges from RM300,000 to RM452,000 for Phase 1 for a lifetime basis. Of course as usual, there would also be the usual sinking funds and maintenance charges. GreenAcres is expected to be completed by 2016.

Do contact TI Homes for more information. Their website:
http://www.greenacres.com.my/introduction.html
   There’s no need to mention my name because there are no extra discounts. Haha. The choice is now available and the decision is always yours to make.

written on 28 Nov 2014

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Retirement homes in Penang, if I am 60 years old today.

Few months back, I wrote about
retirement homes
. My focus then was more on Ipoh being a very good place for it to happen and there is at least one Ipoh based developer bringing the concept into Ipoh. There are now news that one of Penang’s property developer, Tambun Indah would also be introducing a retirement village in an integrated development called ‘Pearl City’ in Simpang Ampat. Pearl City is an ongoing development consisting of both the residential and commercial development. It started in 2009 and is expected to be fully completed by the year 2020. It has a GDV of RM9 billion.

A total of 200 high-end condominium units will be offered for sale to those aged 60 and above. This proposed development will be built on a 1.24 ha of land, offer club facilities as well as additional amenities catering to the elderly. For example, full time nurse on site, shuttle bus service, meeting room, medical centre built next to the development. In other words, everything you need is either within or next to your home. The design would be based on an Australian-inspired retirement village.

Malaysia is not yet an ageing population but we would be reaching this by 2030. I wrote about this before earlier. Here:
Malaysia – Ageing population – Stats and Steps.
 However, those over 60 years old already constitute % in Malaysia. This meant that the market for for these elderly population is a real one. The question now is, what would be the price that is deemed affordable? Even if I am over 60 years old, I would still need to consider if I have enough for the unit as well as to maintain my life until the day I leave this world. Since this is in mainland Penang, I think I would expect the units to cost around RM500,000 for a decent size, say above 650sf but smaller than 900sf. This is the price I feel is right, no matter how luxurious they intend to make the units to be. It should not be too lowly priced because I need it to be of certain standard and not be shoddily built. Ideally, the developer should be one which has been around for some time and would be around for a very long time more. Sorry, I would NOT even consider any new developer who’s working on it as their first project.

No comments on the maintenance because if I can afford the unit, I think I would still have enough for the monthly maintenance as long as the maintenance is not something like RM1,000 per month which I seriously do not think is viable. Around RM500 per month may be quite certain though if not higher. Anything lesser, I think I would also be worried if they can maintain this continuously. I just feel that if I am already over 60, I just do not want to have to worry about issues such as no water supply, electricity being cut, grasses not cut or in-house nurse who knows nothing because the management were unable to pay for a good one etc. I certainly hope the security guards are NOT older than me!

Let’s see when more details are announced. Sorry, I am far from being qualified but I hope more of these developments come up so that by the time I really do reach that stage, retirement homes in Malaysia is already a matured industry.

written on 18 July 2014

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Four reasons ‘retirement village’ may work in Malaysia

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Take note of these retirement issues

I think it’s easy to see that majority do not have any retirement plans. Either everyone is too confident of their future or they just simply do not bother. This is definitely worth more thoughts than spending time on the usual gossips and forwarding of stupid unverified news on Facebook. The first thing for any retirement plan is always to INVEST.

INVEST. Starting is quite easy. Choose a forced savings type and buy a wealth protection plan; insurance. These two would be sufficient for a while until you have saved enough for a bigger investment such as a property, a second property and so on. Without sufficient knowledge, unit trust is better than stocks directly.
Fixed Deposit
 is good and should have enough to last you 6 months should you be out of job.

Rely on ourselves, not others
.  By the time we retire, it would be that time when we may be sick more often. Our children may love us a lot but do remember that they too must work hard to sustain their lives and some may also be struggling. Thus, if we intend to help them and help ourselves, it’s best that we have enough to at least last us until the day we bid goodbye.

Lessen your monetary burden
. Try to structure our debts in such a way that by the time we retire, we would have nothing to pay for monthly except for our insurance. Mortgage payments are normally a huge one on a monthly basis, especially when we are no longer working. If this is not planned, it would mean an additional unnecessary pressure when we retire.

If we have been taking actions for our retirement, chances are there would be enough in our EPF to supplement what we already have. However, do note that for the majority in Malaysia, relying on just
EPF is a mistake.
 There’s just not enough to last more than just a few years. Thus, EPF is last resort and not be treated as main source. Oh yeah, when retirement comes and we do not have enough money, we can blame the world but the one who has to live on is ourselves. Think and act, ok?

written on 9 June 2015

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Retirement Village – What and Why?

In Malaysia, majority of us have never heard of such a term before. ‘Retirement Village?’ Why can’t I just retire in my hometown? Why would I need a retirement village? Furthermore, I have to pay for it and move out from my current home to a place which may not be that near to the city centre. Furthermore, my neighbours are strangers to me! No kids running around, only old folks strolling slowly every morning and every evening. My children may not even visit me often. So, what is a retirement village, really?

According to
http://www.agedcareguide.com.au
, retirement village is defined as, ‘villages are designed for people aged over 55 as an alternative housing and lifestyle option. They are popular with people who feel they need more security, support or company, but who want to maintain their independence. Retirement Villages are housing developments offering a range of accommodation options, services and facilities.’

Now, let’s look back at the reasons in my first paragraph. Why can’t I just retire in my hometown? Actually you can. However, if there’s a retirement village in your hometown, that may be a better option. There are no kids running around. Come on, truth is when the children has moved out and has a family, do you sincerely think they bring their grandchildren to visit you often? Daily? Weekly? If they stay with you, then you do not need retirement village.

Why would I want to stay with strangers? The truth is, when you first moved into your house many years ago, everyone were strangers until you got to know them. In any housing area today, perhaps out of the 100 units, only 10 units are occupied by old folks. It is tough for these old folks to gather and perhaps have a coffee chat like the youngsters of today. To know is to love. Compared to staying alone, watching TV the whole day or sleeping or lying around doing nothing, why not meet new friends, start new activities and still get to meet your children and your grand children when they come visiting during the holidays?

Personally, I am still too young to think about retiring. However, the concept of retirement village really do seem appealing to me. It’s already pretty established in developed countries such as the UK, US and even Australia. Malaysia? I have just started to hear of this. My hope is that this concept may be acceptable, more people takes up this opportunity and the retirement village developments continue to improve, just like the developed countries. By the time I am about to retire? There would be choices for me in my hometown.

written on 1st March 2014

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1 percent return on investment every day? Even every month is too much!

I recently posted that investment is when we understood what we are investing into. When we do not, then it’s either speculating or even gambling. A reader said that investors who are looking for short term returns are also investors. I agree yeah. As long as we are knowledgeable about what we are investing into, it does not matter short or long term. Let’s look at some return on investment typical numbers.

A typical Fixed Deposit would pay us 2% for the money we deposited AFTER 12 months. That’s 2% return 365 days later. A dividend stock may pay 6, 7 or even 8% returns per annum depending on the price we invested into those shares. They may give quarterly dividends for example but when all quarterly dividends add up, it’s the 6, 7 or 8% that is common.

Yes, it’s possible to earn higher than average return on investment

For someone who’s very good with trading and could spend enough attention, the person may gain much higher returns versus the dividend stocks too. However, this is because of the skills, knowledge and occasionally, the extra luck which is gained from experience.

It does not work for someone who does know anything

Just remember that when one knows nothing, then even 1 percent return per month is very high. A recent scam happened with someone who was waiting for 1% return daily. Scammers are also very professional these days. They are even willing to give returns as bait for more money…

Article in nst.com.my
   Kelantan police chief Datuk Shafien Mamat  shared about a case where a businessman in his 30s lost RM191,000 after he was cheated by a female friend over an online investment recently.

He said, “According to the victim, the friend told him that the scheme promises a return of 1 per cent a day. Over a week, the victim made several transactions for the investment amounting to RM242,000 to bank accounts belonging to four individuals.”

“The money was for the purchase of crypto currency. The victim needed the currency to enable him to make the investment via an e-wallet app,” he said in a statement.

In under three weeks, Shafien said the victim withdrew RM51,000 in returns from the e-wallet app to his bank account. Later the victim found that the smartphone app no longer existed. Do read the full report here:
Article in nst.com.my

Scammers are getting better, I need to keep writing to warn all

There was one scam where even the durian seller was cheated! Here’s the story:
Musang King seller scammed over RM400,000!

Many scammers also target retirees too. Many times, retirees may be looking for higher returns and sometimes may ignore some potential scam signs.  Here’s the earlier article:
Scam. Retiree. RM400,000 parcel

I have at least two friends who found their partner online. Both are happily married with kids for over 10 years. However, not everything online is as what it seems. Please always be aware of all the tricks a scammer would use.
Love is also another method scammers use

Please do be careful yeah. Hard earned money and all the return on investment may have taken many years to save up and this may all be lost in days to scammers. Please do keep sharing scammers’ tricks to all your loved ones, especially the older generation whom we may not be staying with. They may believe online is all believable.

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Reveal statistics for defaulters? (Include statistics for successful applicants too, please)

When we look at the Non-Performing-Loan (NPL) numbers, it looks like there are very few defaulters, in percentage terms.
Earlier article here
.
  Does this mean that the banks have been too strict since only the very qualified gets their loan applications approved?  Should they lower their lending criteria?
Earlier ‘advice’ from a Deputy Minister here.
 In the US for example, the Mortgage Crisis happened within a short period of people losing confidence with the property market as soon as the number of defaulters start to rise. In Malaysia, we have negative sentiment prevailing currently and the slowdown in transactions have started since 2013. So, what could the banks do in order to also help reduce some of the current unsold property stocks?

Article in edgeprop.my here.
Real Estate and Housing Developers Association (Rehda) Penang past president Datuk Jerry Chan said that banks should reveal statistics of defaulters to “justify” their “strict” rules on housing loans. He said, “Banks have become a lot stricter on giving housing loans over the years but we found people have been continuously servicing their loans as they want to keep their houses.” said Chan. He added, “We know that the number of loan defaults has not gone up over the years. As such, banks should be more receptive to the efforts of the developers and the Government to help people own homes. Banks should make it easier to obtain loans.” He shared that perhaps the banks should also look beyond the payslips or income tax of purchasers because some people are getting a ‘second job’ these days.
Article in edgeprop.my here.

I think it’s also very important for banks to also reveal the statistics for successful applications and their Debt Service Ratio (DSR) perhaps? Also their salary range as well as the median property prices which these successful applicants are buying. I think the data will be interesting and this can go a long way in also educating the first-time home buyers on their monthly expenditure as well as expectations. There are many who are really over-stretching themselves just to get a property which is considered more ‘prime’ than their peers. Truth is, one solution is also for potential buyers to go for cheaper properties too in order to have higher chances of getting their loan applications approved. Happy understanding.

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written on 14 Feb 2019

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Revenge buying? What’s that, really?

In case you do not know how to pronounce Hermes, here’s that link for
you to learn. vogue.com.au
 It has a lot of other French brand names too. In brief, Hermes is pronounced with a silent h and softly pronounced s. Do not worry too much about the name. As for the price, just understand that it starts from many thousands of dollars (not just ringgit yeah). Here’s one site
where you could buy pre-owned ones.
  So, anyone here really thinking of rushing to the nearest Hermes store to buy one handbag?

The nearest store should be in
Singapore. Click here to find out.
 Not far, it’s just a flight away anyway. Now for that news about ‘revenge spending.’ I think I have to also explain what is revenge spending? It’s like if you were forced to hold back from buying something you like for many weeks and now you are suddenly released and you quickly rush to your favourite store to buy that something. Perhaps read the official explanation in the article below.

Article in cnaluxury.channelnewsasia.com
  “Revenge spending” refers to a buying binge by shoppers emerging from lockdown, which could potentially resuscitate businesses that have been struggling since the outbreak of the coronavirus.

The article quotes WWD which said that Hermes’s flagship store in Guangzhou, on the day that it opened for business has recorded US$2.7 million (RM11.7 million) in sales. It says that VIPs from across the Guangdong province, the wealthiest province in China with Guangzhou as its capital, descended on the store to purchase tableware, shoes, furniture and leather goods.

WWD said that Hermes did not confirm the sales figure but VIP shoppers had documented their extravagant purchases on social media channels such as Weibo. For even more details of these VIPs and their purchases as well as photos, please do read the full article here:
Article in cnaluxury.channelnewsasia.com

Okay, now that you know where the nearest Hermes store is and the Movement Control Order (MCO) will only end on 28th April 2020, are you also having the revenge spending mindset? Maybe not Hermes bag, perhaps some other things? Actually for Malaysians, I think it may just be a super long queue at some famous restaurant for that plate or bowl of something which we have missed for 1.5 months.

Well, this may be a good sign for us, economically. Maybe the demand for some goods and services may already be a pent-up financial force which could be released as soon as MCO is over. Just remember yeah, it is NOT yet normalisation if no vaccines could be found or that the COVID-19 cases all over the world remain extremely high. I do hope that every other country would also have these pent-up demand too. Yeah, they call it ‘revenge spending.’ Whatever.

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Revenge Travel? Bangkok reopening for fully vaccinated travellers in Oct 2021

Revenge Travel? Here’s one more for fully vaccinated travellers.

It’s not been an easy time for those who were used to travelling frequently. Covid-19 meant staying at home, travelling around the kitchen and the living room and even limited places to visit for months after months.

Thus, there are news saying that enquiries for Langkawi island has been increasing ever since it was announced that Langkawi will accept vaccinated Malaysians from any state in Malaysia. here’s the details:
Activities in Langkawi beginning 16th September

Now we have an even bigger news. This one is from Bangkok, Thailand. Instead of just the island of Phuket, now vaccinated travellers could travel to Bangkok starting in October 2021. By the way, Bangkok receives typically
over 20 million tourists every year. (Source here)
Imagine the number of rooms needed. Now imagine what has happened ever since Covid-19 arrived.

No worries, Bangkok is seeking to reopen soon. Revenge Travel may have a chance to start in Bangkok.

Article in straitstimes.com
 Tourism makes up a fifth of Thailand’s nation income in 2019. However, Covid-19 has meant that the number of foreign visitors drop to almost nothing. Bangkok will now be reopened to fully vaccinated tourists in October. This will help salvage the tourism industry which has been badly affected by the pandemic.

It will make plans to reopen despite a deadly third wave of infections driven by the Delta variant. Fully vaccinated foreign travellers can visit Bangkok and four other provinces (Chiang Mai, Chon Buri, Phetchaburi and Prachuap Khiri Khan) without undergoing the two weeks’ hotel quarantine. It will follow the “sandbox” model from island of Phuket which has been piloted since July 2021. Please do read the full article here:
Article in straitstimes.com

Revenge travel is quite real

While things will normalise after a few months but that first few months that people are allowed to travel, every vacation spot will be full. The reason is because of pent-up demand from people who has not been able to travel like forever. Anyway, if Bangkok could capture 1 million of tourist within October for example, that would be really amazing for the economy of Thailand.

At the same time, just hope everything will be under control. Bangkok will now be that new model case study for ASEAN moving forward. Revenge travel? Keeping fingers crossed.

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What is Reverse Mortgage? Is it coming to Malaysia?

Following article is from a good friend of mine who’s considered a mortgage guru in Penang.
Happy reading and learning from Miichael Yeoh.

Article starts:

You might be wondering, what is this reverse mortgage. How does it work? How can it benefit me? Not to worry, I am going to answer in this article.

What is Reverse Mortgage?

The west started reverse mortgage many years ago. This product is not new in the mortgage world. It caters to senior citizen who has a property in their names. The owner can then use the property to mortgage to the bank.

Normally in typical borrowing, you need to pay the monthly installment. Here’s what is interesting. In reverse mortgage you do not have to pay the monthly installment. The bank will instead be the one paying you. What the bank does is that they will do a market valuation on the property. After that, they will give the loan based on the margin of finance they are comfortable with. Typically, 50 to 60%.

Do not expect high margin of finance as the bank have to calculate the future lending cost such as interest rate and property price. The loan must be repaid when the borrower deceased, refinance or sells the property.

How does the bank pay me?

Homeowner can choose either of this 3 ways to obtain their borrowing with the bank .

A fixed monthly payment with predetermine no of months/years of payout.
A lump sum payment upfront
A combination of both

Who owns the house?

Just like any mortgages taken from the bank, you are still the owner of the house. You mortgage the property to take out a loan. The agreement will stop when the borrower deceased, sells the house or refinance to another bank.

How much does it cost?

Here are some the costs that you will need to pay.

Legal Fees
Valuation fees
Mortgage Insurance
Monthly maintenance fee

Depending on the bank you applied some will advance the costs and put in the loan.

The pros and cons of Reverse Mortgage

In any mortgage borrowing there are going to be advantages and disadvantages. Borrowers are advised to choose wisely when applying.

Pros

Do not need to pay monthly installments
Funds can help borrowers in living expenses such as medical bills and debt repayment
The fund can help homeowners enjoy their retirement.
With the fund homeowners will be able to maintain their current lifestyle.

Cons

The closing cost such as legal fee and insurance can be steep
The property will be mortgage with the bank

Will Reverse Mortgage come to Malaysia?

Update. Cagamas has launched reverse
mortgage with an allocation of just RM100 million. Read here.

Banks needs a healthy mortgage portfolio. Reverse Mortgage will give them a new avenue to expand their products. Yes, I believe that one day we will have this product in Malaysia. The banks might tailormade reverse mortgage to suit Malaysians.

Visit
www.miichaelyeoh.com
 for more articles.

— end of article —

Would I take this up?

If I am a senior Malaysian, would I take this up? It is definitely an interesting concept. I still think I am the one who will just take the easier way out; sell the property and then use the money to travel here and there while I am still able to. Health is super important in this case. However, if I am someone who would be staying at one place versus travelling, then this reverse mortgage may just be a move. It’s simple. Bank pays you to continue staying in the house. Definitely a wow, right?  Happy deciding when it’s available and you are old enough to do so.

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Review your taxes please. HIGHER or lower, the possibility?

When we pay to a vendor, we expect good services. When we pay taxes? We expect the local authorities to serve us well. If we have been paying low taxes for a very long time, we should not expect ever better services every year. The question will always be what should an appropriate tax level be? Will it burden us? For example, the recent brouhaha about Penang’s new assessment rates?
15 years no increase, now it increases

How long before it should be reviewed, whether upwards or downwards? Think about it, when population grows, the local authorities will have to do more. Even the rubbish collection will mean many times higher than those days when there were very few people staying in the neighbourhood. However, it’s also true that with a growing population, the amount of taxes collected may also increase too.

Article in edgeprop.my
   Housing and Local Government Minister Zuraida Kamaruddin has asked all 155 local authorities (PBT) nationwide to review the taxes beginning 2020. This is a requirement every 5 years under the Local Government Act 1976. She said that it was necessary to ensure a uniformed tax collection across the board as some of the PBTs have not reviewed its taxes for 20 years. She said that she wanted the PBT to ensure the increment will not burden the people but this increment is needed because of the increase of services offered by the PBT along with population growth.
Article in edgeprop.my

20 years of zero increments showed that the PBTs did not do their planning job well or they cared too much in not over-burdening the population or they have been able to perform their services without the need for higher taxes? Well, just needed to wait for the announcements  when it happens. What’s certain is that the change is likely to be upwards yeah. I will be happy to anticipate better services with higher rates that I have to pay.

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Key Highlights of the Revised Reference Rate Framework

Bank Negara Malaysia (BNM) has announced a revised reference rate framework (RRF).
Full article here in BNM’s website)

This will be effective from 1st August 2022. (NEXT YEAR, not immediately)

Briefly, first part to this revision is to have a Standardised Base Rate (SBR) across all banks. This will be linked solely to the Overnight Policy Rate(OPR) and this will be determined by the Monetary Policy of BNM.

With this in place, borrowers could now easily compare lending rates across banks.

The formula is:

Lending Rate = Reference rate + Spread. Do refer to the image below for more understanding.

This new framework will apply ONLY to home loans and personal loans.

Do note that all these would depend very much on the banks assessment of other factors such as borrowers’ credit risk profiles (repayment record). In other words, it means that if one could quality for loan under current reference rate framework, one would still qualify under the revised RRF. If one could not get the loan approved, then the results would still be the same; loan application will still be rejected.

A clear image from BNM as below for reference.

A standardised way is definitely better

Today, it’s a little confusing because every bank has a different base rate and yet the lowest base rate does not necessarily equal to the lowest home loan rate. So, if every bank has the same reference rate, then we just need to know which bank has the lowest spread. When the bank has more funds to lend, their spread is usually lower.

This is why some banks would entice customers with higher fixed deposit rates. When they have more funds to lend, they can afford to lend it with a slightly lower rate versus one bank which may have less deposits and thus would need to ensure maximum possible returns from their funds. Anyway, do ask your friendly neighbourhood mortgage friend for a more thorough explanation yeah.

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A new revolution perhaps. Malaysians Ride This! (MRT)

It’s always packed. Sometimes like a ‘sardine in a can’ when it’s right after office hours. This was what happened to me every time I take the MRT in Singapore. I think it is already a lifestyle in Singapore. In fact most Singaporeans I know are slimmer than Malaysians I know, especially those who drive to work. 🙂  Perhaps this may change?  According to Rapid Rail Sdn Bhd chief executive officer Datuk Zohar Sulaiman, the daily ridership for the MRT Sungai Buloh-Kajang Line (MRT SBK) has surpassed the 140,000 mark on Saturday. He said, “The statistics are actually even more flattering as normally, daily ridership is highest on weekdays when people are working. In this case, we have 142,313 on a weekend, on Saturday and, looking at the report from my staff on ground, we should be having a very high ridership today as well.” Full article in NST here:
New Sungai Buloh-Kajang MRT daily ridership hits 140,000 mark

The ridership has yet to include me but it has included many friends who continues to update their ride in their Facebook. Actually, MRT is not the first public transport that we have. LRT and Monorail has been around for a very long time. However, perhaps this time, it is accompanied by lots of media coverage and perhaps this time, the routes are covering a lot more neighbourhoods with more people. Perhaps this time, it is also helped by the fact that parking fee is increasing together with expressways with tolls which adds up to a lot every month. RM7 for parking per day x 22 working days = RM154 plus a usual RM5 to and fro times 22 days = RM110. This would be the minimum per month which is NOT avoidable. Taking the MRT would enable us to save RM264 per month or RM3,168 per year. Seriously, in my career lifetime of 30 years, this would be close to RM100,000. By the way, the toll and parking will only increase in price while the MRT fare, well, it’s far harder to increase because this is a public transportation. (Now you know why nearly all public transportation needs government subsidy, except for Hong Kong and it’s not even from the fare. It’s from the leasing of office buildings built on MRT land…)

I know, some would now say that the parking at the MRT stations itself is limited plus it’s also expensive. At the moment, I do not think there’s a perfect solution. Perhaps it’s best to walk a bit and take the bus perantara (MRT bus link) instead. From my observation thus far, it is pretty on time and as of now, all the buses are new too. My friend suggested that we take the bus to his home in Choa Chu Kang in Singapore when I reached the MRT station. He said the bus would stop about 100 metres away. If we walk, it would be around 800 metres. I told him, ‘Walk lah…’ We walked. I think this needs some getting used to. I promise I will try but as for getting used to, I am used to walking 800 metres every day to take the bus or to walk home  from the bus stop. Okay, that’s when I was much younger but as I grow older, it may be wiser to walk more. The 3Hs are coming if I don’t do more physical activities. High cholesterol, High blood pressure and High Sugar (leading to diabetes) Happy taking the MRT. It should just be known as Malaysians Ride This (MRT)!

written on 23 July 2017

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The start of MRT and the rise of property prices nearby

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RHB offering voluntary exit option to permanent staffs

Someone forwarded me a news I read earlier in a local English daily. It’s about RHB Capital Bhd’s voluntary exit option which is also known as Voluntary Separation Scheme (VSS). Does this mean that Malaysia is facing a bleak future for the banking industry? Haha. Please look at all the reported earnings for all the listed banks. If I answer you, it may not sound credible enough. Are there more of these options to come? I personally believe the answer is a firm Yes. Well, this is the second one, after CIMB. Actually, the number of staffs each bank needs to have must also correspond to the services it offers. The services are now becoming more online instead of offline. I have NOT been to any bank for at least past 6 months. I am however doing my online banking transactions every other day.

Think rationally and objectively, the usage of online banking has already propelled many of these bank websites into top websites in Malaysia. The same situation has already happened in Singapore too. Instead of listening to some of the half-baked sales staffs telling you about insurance, unit trusts or even other investment products, , reading through good powerpoint slides or brochures via my phablet is better! Financial awareness and knowledge would grow in tandem with the growth of any country.

According to Maybank Investment Bank (MaybankIB) Research, using CIMB’s earlier exercise as a benchmark, this exercise would cost RHB a total of RM332 million but would save the group up to RM219 million each year moving forward. In fact it may bolster FY16 earnings by about 8%. This will help reduce the number of RHB staffs by 15% or about 2,700 staffs. Earlier, CIMB Group MSS involved a total of 3,599 personnel including 1,891 in Malaysia and 1,708 in Indonesia.

This is definitely not an easy time but truth is, not many organisations would be looking to conduct these during good times. In fact it is always during harder times that organisations become even stronger while the weaker ones disappear. I have always believed that the banking sector of Malaysia is strong and I think RHB’s proposed action is a correct one. Keep reading.

written on 4 Sept 2015

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No need to sweat, interest rate stays the same

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Breaking the cycle. Else, we stay the same.

Recently, I wrote about
 T20, M40 and B40

after I found out that when someone googled for it, they were somehow directed to
kopiandproperty.com
 When I posted the article in Facebook, a good friend asked, ‘Why T20 seems to be growing faster than M40?’ I answered that it’s quite simple. The richer would usually have more wealth to build more wealth. That’s why the richer always become richer unless they did not invest or they somehow
spent everything they earn.

Since we are at this topic, I asked my most knowledgeable friend, google and managed to do a few more readings and found some recent articles on this topic from all over the world. It’s very easy to just believe that the gap between the richest and poorest are happening only in Malaysia. When we believe this, then we stop taking actions to improve our situation. Well, let me be very direct. It happens in many countries and with the current speed of innovation, there would be even more people who would be left behind. There are many people who does not even know what is a technology start-up. Some are still wondering why an idea can be worth so much. Yes, there are even online start-ups which are
STILL making losses but their CEOs are still paid obscene salaries.
 Let’s all learn from all these articles yeah.

A recent article in Hong Kong by South China Morning Post.
 1.34 million people out of 7.34 million people in Hong Kong are living below the poverty line. This is around 20 percent of all population. Anyone earning lesser than HK$3,800 (RM2,063) per month would be considered as living under the poverty line. Do google to understand what is a ‘coffin home.’ The rental for such a home is usually HK$2,000 (RM1,086) per month. A report by Oxfam showed this, “In 2015, the median monthly household income of the top decile of earners was HK$100,000 (RM54,291), while that of the lowest decile was only HK$3,500 (RM1,900).” The poorest would have to work for 2.4 years in order to earn what the richest are earning in a month.
The full article in SCMP here.
My earlier article here:
Buy a Tesla or buy a micro-flat? Both similar ‘sized.’

A recent article in Thailand.
It tells of how hard factory workers have to work in order to have barely enough for themselves and their family. The earning is around S$12.50 (RM39) per day. Assuming they work 26 days per month, it is RM1,014 per month. The increment for the past 4 years were just 5 Baht per day (RM0.64). Monthly, it is close to RM17. 1 percent of Thai controlled 58 percent of Thailand’s wealth. In a similar report like the one Oxfam published for Hong Kong, 10 per cent of the country’s richest people were found to earn 35 times more than 10 per cent of society’s poorest people. As per the World Bank, 69 percent of Thailand’s economy depends on export. This meant that the world economy would determine a lot the direction of Thailand’s economy.
Here’s the full article in todayonline.com

I think we think the wealth gap in countries like Singapore should be much better. Well,
here’s an actual article in channelnewsasia.com
 What about that of Australia?
This is a latest article on Sydney Morning Herald
Of course, we must not run away from two other countries. This is one latest article about Britain
in TheGuardian.com Widening of income gap.
 Where exactly is Malaysia in this inequality map?
Here’s that Oxfam map with regards to inequality.
We are ranked pretty poorly, at 106th place out of 151 countries. Lots to do! Singapore is also on the bottom half, at 86th position. Indonesia is 101st place. Thailand is close to the middle point, at 70th. Australia is 14th. (Very healthy, right?) Oh yeah, my earlier article about CEOs here.
When salary packages for CEOs become way too high

Strategists should usually be paid more than operations people but not at these levels… right?

I seriously believe that we have to do more for our very own M40 or B40 as well. This is the main reason why I disagree that subsidy should be for all. To really help those really in need, it must be very targeted. I personally also believe that perhaps financial awareness be taught to more people, not just those who wants to know about it but it should be to every university student.
 If possible, even to secondary students.

Perhaps make it a compulsory module to pass? Regardless of the major they are in, if the new generation continue to be reckless with their money, especially as soon as they get their credit cards, very soon they would be in debt.
This happens next: 82,383 bankrupt Malaysians 2013-2016

In some advanced economies, those out of work are given subsidies. Frankly, I do not prefer this method. Teach them how to fish, not give them a fish every time they are hungry. Please do work hard, work more and all the best.

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written on 5 Nov 2017

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Richer getting richer,  faster. Need better wealth distribution…

kopiandproperty.com has written about this topic over the years and this year, it has become worse. Worse for the poorer half of the world population.The richer are getting richer and faster too.
Here’s that report in TheStar.
  First of all, there is nothing wrong with richer getting richer. However, their wealth as a percentage is growing much higher which meant that despite the world population growing, their share of wealth is actually on a downtrend. Asper the report, the millionaires and billionaires now hold almost half of global personal wealth, up from slightly less than 45% in 2012, says Boston Consulting Group (BCG). What do they invest in?  US$121.6 trillion (60%) of global wealth took the form of investable assets – mainly equities, investment funds, currency and deposits, and bonds, with the remaining US$80.3 trillion (40%) held in non-investable or low-liquidity assets such as life insurance, pensions funds, and equity in unquoted companies.

Residents of North America held over 40% of global personal wealth, followed by residents of Western Europe, with 22%. The strongest region of growth was Asia, which posted a 19% increase. This is how these wealthy group is measured:

The personal wealth bands are generally measured as such:

1. Retail: below US$250,000

2. Affluent: between US$250,000 to US$1mil

3. Lower High Net Worth (HNW): between US$1mil and US$20mil

4. Upper HNW: between US$20mil and US$100mil

5. Ultra HNW: above US$100mil

This is where they are from. The U.S. Look closely at China. The compounded annual growth wise, it’s by far faster than the U.S. Entrepreneurs are seen to be those investing more by liquidating the equity in their own companies. The largest pool of these entreprenuers are in US, France, Italy and Japan.  Meanwhile in Asia, the personal wealth is growing by 19 percent. (If we are growing by the same number, then we are not falling behind). Residents of China hold 57 percent of the growth. Asia remains a cash-and-deposit-heavy region, with 44% of personal wealth held in this asset class. (YES, FIXED Deposits as an example and Debt-Free homeowners as another example). Over the next five years however, the regional wealth is expected to grow at a CAGR of 12%. (With job increments at 6 percent, a working professional just have to make sure they could grow another 6 percent from their existing wealth…)

In Malaysia, we know of the case where the heads of GLCs are getting high salaries. There are still CEOs whose take home pay is a huge percentage of the company’s profits with the shareholders getting little or no dividends..  There are also over 60,000 hardcore poor heads of family in
Malaysia as per recent report in TheStar here.
 These are not what we should worry about though. We should keep learning about financial investment and the opportunities it represent because if we did nothing, we will become poorer as the year passes. Inflation is not the main worry, INACTION is; taking no actions…
Here’s that article in TheStar again.
 Happy investing.

written on 21 July 2018

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Do you know how many people own 82 percent of total wealth in 2017?

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Richer parents are great for kids, question is, are we becoming one?

Last weekend, I was in Penang for a Toastmasters’ Conference, District level. Met lots of great people and when the organising committee needed someone to buy dinner for some performers, I volunteered. When I was waiting for my take-away order in Chillie’s, I saw a group of teenagers browsing the menu outside the restaurant. Then they came in, asked for a table for 10. I was standing right beside their table and heard some other conversations. One asked if everyone is okay. (Well, they have come in and now only deciding if its okay?) One replied that he has enough money for his own meal and drinks.  Actually a meal,  including a bottomless drink would be around RM40 if not higher.  Fortunately, none of them said, ‘Let me pay for everything.’ Haha. I seriously hope my kids would not think of this as usual  when they become teenagers. I
could not afford such an extravagance anyway.

Until today, I think we go Chillie’s only once per quarter and usually for some sort of celebrations or if there’s a big group.

For this group of kids, I think they are already used to spending so much for one meal.  Whichever way,  now we know why the new workforce today are saying that it’s hard to buy a property or some would need “PAMA” (father and mother) bank’s help. One meal RM40. Assuming it’s the same for dinner, that’s RM80 per day. That’s nearly RM30k per year!  I did not yet include breakfast.  Perhaps they only do this once per week,  since they are in school for five days and would spend substantially lower.  At 50 percent discount this is still RM15,000 per year or RM1200 plus per month. Now I know why a survey by
Jobstreet survey
 showed that fresh graduates are asking for even up to RM6500 in starting pay. Looking around, I saw that except for one whose phone screen has cracked and one using an iPhone two generations back,  everyone of them had more expensive smartphone than me. Haha. So, my general conclusion is that their parents are RICH. If they are working for their own meals, it would be crazy to work one whole day to get “10 hours x RM4.50” and spend it all within ONE meal.

I have some questions from this 5-minute encounter with this group of ‘rich’ teenagers. Are they going to be realistic enough to face the working world in the future? If they are not, then who are we going to blame? The media for portraying that this is the usual lifestyle? The parents for earning too much and giving these teenagers huge allowances? Perhaps even the fact that perhaps that’s because the parents have no time and thus providing them more money instead? Last but not least, assuming this is going to be the trend for our kids in future, as parents are we rich enough? If we are not, are we moving towards being rich enough? My belief is that it’s advantageous for kids to have rich parents.

Invest lah.

Just make sure we are not spoiling them though. It does not need to be just money all the time. Stop here this time. My wife’s calling me now to help my son wear his shoes. We are going out for a simple breakfast in the nearby kopitiam. RM20 for whole family. Cheers!

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written on 1 May 2017

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Richest and the poorest. How big is the actual gap where income is concerned?

When someone starts to earn profits from their businesses, it’s usually a continuous one barring any sudden unforeseen circumstances. What happens then is that their business earnings will start to have a widening gap with the workers who earn a fixed pay every week or month, depending on which country we are talking about.

This is not just for the business owners. A senior manager earning RM20,000 for example, even with an increment of just 3% will be earning an extra RM600 per month and that’s RM7,200 per year. Someone working on the floor of a factory for example may earn just RM1,500 per month and even with a 10% increment which is 3 times higher, they will only earn an extra RM150 per month or RM2,700 per year.

Do we now see why the income gap will only grow larger? Unless of course everyone moves up and corporate ladder and we let the robots take over all the lower-end repetitive kind of jobs. When robots do start to come and take over though, we will have to ensure all these employees are able to move up the corporate ladder too, yeah. Else, the situation will become even worse. They (low salaried workers) do not just earn lower pay, they have no income!

Article in reuters.com
   Oxfam says that the world’s richest 2,153 people controlled more money than the poorest 4.6 billion combined in 2019. It also said that women around the world work 12.5 billion hours combined each day without pay or recognition. Amitabh Behar, CEO of Oxfam India cited the case of a woman called Buchu Devi in India who spends 16 to 17 hours a day doing work like fetching water after trekking 3km, cooking, preparing her children for school and working in a poorly paid job.

In comparison, he said, “And on the one hand you see the billionaires who are all assembling at Davos with their personal planes, personal jets, super rich lifestyles.”  Behar said that to remedy this, governments should make sure above all that the rich pay their taxes, which should then be used to pay for amenities such as clean water, healthcare and better quality schools. Please refer for more details in the
Article in reuters.com

It’s really quite scary. However, for most of the people in the world, it’s possible to do something about it. Education is usually the first step. Employment after tertiary education is the next step. This is then followed by financial awareness and management. Else, the situation will not change a lot because the richest billionaires are not going to just share their wealth with everyone just like that…

In Malaysia, it’s important to understand that
‘if we want a job, we can find a job.”
 Once we found a job, we can then use the salary we earned as a stepping stone. Remember yeah, “
working professionals,do you love just your job?
  Last but not least, whatever we earn, always look to “
Are we earning, saving, investing and preserving what we have?
  Happy understanding too and yes, I have written about this income gap a couple of times. One earlier article is this:
When salary packages for CEOs become way too high
  I am of the opinion that once the salary hits a certain level, there’s no need to pay these CEOs ever higher because he would have been able to afford most of everything in the world already! It is his low level employees who needs more money to buy groceries to feed the family. Happy understanding.

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Financial news: Richest countries in the world by GDP per capita basis

Financial news: Richest countries in the world by per capita basis

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Where did I get these charts from?

I love visualcapitalist.com
Click here to view some of their amazing charts.
  I saw one of their latest ones today; richest countries in the world by GDP per capita.  Here are two informational charts for everyone to take a look. Then to strive towards those numbers too. 🙂

First one shows us the GDP per capita for the top 10 countries in the world; their GDP per capita in USD show that they are above all other countries. It does not mean their richest are the richest yeah. It meant that their country’s GDP divided by the number of population they have meant that they are richest in the world. So, if the country has a smaller population, it does help a little even if the GDP is also due to the population’s hardwork too.

The second one shows the world’s ranking in GDP per capita on an overview basis.

Let’s talk about the two countries closer to us, Singapore and Australia. A Singaporean has a GDP per capita of US$84.5k and this is around RM373,000.  Meanwhile an Australian would have a GDP per capita of US$68k which is equivalent to RM300,000.Please note that this is not about how wealthy the people is where incomes are concerned. However, it does give a very good guide as to how much the government is able to spend for its people since the GDP per capita is very high.

Where is Malaysia?

We are 67th in GDP per capita out of 190 countries listed by visual capitalist.  Still okaylah.  What about the bottom countries then, who are they? Image right after.

Benchmarking our income against these numbers maybe?

Within the top 10 GDP per capita countries, Denmark is at number 10. The population has a GDP per capita of US$66,394 which is around RM294,000. If we compare this number to our current yearly income, are we already above or are we still below it? It’s a comparison of apple versus orange but if we are above it, we can still safely say that we are above the average population in a top 10 richest country in the world by GDP per capita.

If you like to know the average income for people in Denmark is DKK 45,481 per month. That’s roughly RM29,443 per month. Or if we count this per year, it’s RM353,316.
Source: www.dst.dk
  This number is higher than the GDP per capita. Meanwhile the income tax could be up to 52% for the Danes.
Source: taxsummaries.pwc.com

Happy knowing all these additional numbers.

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40 percent of the richest Malaysians are property related.

The latest list of top 50 richest Malaysians is here. It’s an annual list and it looks into the wealth of the 50 richest Malaysians. This list is from Forbes. Who’s in and who’s out? Since this is kopiandproperty.com, we look a little deeper into the list with a focus on all the ones who are related to property yeah. If you like to dive into the full list, click here for the
Full list of top 50 richest Malaysians in Forbes.com here.

Within the first 10, we have the following person, their wealth and the business they are in:

#1 Robert Kuok – US$12.2 billion – palm oil, shipping, property

#2 Quek Leng Chan – US$9.6 billion – banking, property

#3 – Koon Poh Keong & siblings – US$6.4 billion – aluminium

#4 – Ananda Krishnan – US$5.8 billion – telecoms, media, oil-services

#5 – Teh Hong Piow – US$5.5 billion – banking

#6 – Lee Yeow Chor & Yeow Seng – US$4.9 billion – palm oil, property

#7 – Kuan Kam Hon – US$3.8 billion – rubber gloves

#8 – Lim Wee Chai – US$4.9 billion – rubber gloves

#9 – Chen Lip Keong – US$3.4 billion – casinos, property, energy

#10 – Tan Yu Yeh & Yu Wei – US$2.7 billion – retailing

What’s the actual percentage for ‘property’ then?

I hope it’s clear to everyone that ‘property’ is repeated in 40 percent of all the top 10 yeah. I have also looked through the remaining richest Malaysians an I can tell you the actual percentage for ‘property’ is 21 out of 50. That’s a whopping 42 percent yeah. This is why when anyone tells me that property investment is no longer the favourite and everyone has moved on to newer investments, I will just smile. If they are good friends, I will tell them why. Else, it’s okay. Everyone can build their wealth their way. Just that these top 50 richest Malaysians think of property as important enough.

Happy investing into whatever you love. Just remember not to be taken away by hypes and buy a certain stock or even type of investment simply because you think that the CEO of the company is charismatic or that many people are into it. Value of the business is far more important on a longer term basis and any valuation based on just one person or even popularity and not the business or the fundamental may not last. Happy understanding.

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Financial News: Who are the richest people in Malaysia and the world?

This was widely reported. It’s always a popular topic. Who are the richest Malaysians? Why are they so wealthy?Did they become rich recently? Did they build their wealth over time? Were they rich because of the generation before them? Are they rich because of technology? As they say, technology is now driving all the transformation all over the world. ChatGPT for example is one such huge change.

Please do read the full
Article in freemalaysiatoday.com
 Meanwhile they have compiled the list of Malaysians in the Forbes Billionaire List 2023.

What did you notice from the above list?

7 out of 18 of these richest Malaysians have property listed as a source of their wealth. Out of the top 5, there are 3 whose wealth course has property listed. Just the wealth of the top 3 is already equivalent to the wealth of the remaining 15 on the list of 18 richest billionaires in Malaysia. The youngest of the top 3 is 81 years old. We also note that none of them are because of a tech start-up yeah.

What about the world then?

Here are the ones at the top for the world.

Info source: visualcapitalist.com

We see names such as Amazon, Oracle, Microsoft in the list.  In fact we have two from Microsoft within the top 10 yeah. Meanwhile traditional businesses such as LVMH and L’Oreal are also represented which tells us that consumption power of people looking for luxury and beauty products are very strong. We also have the famous Elon Musk at number two.

Okay, enough reading. Let’s get back to work.

Hopefully some of them may have inspired some of us to think how we could somehow reach the leagues of the billionaires. Perhaps it’s best to start with the leagues of the multi-millionaires first? The reason I say multi-millionaires is because for some countries in the world today, many of their people are already millionaires due to their holding of their property. Yeah, prices have risen sufficiently to propel them to become a millionaire should they decide to sell that property. Happy working!

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Even the richest are not immune to a slowing property market

We want to sell our home today and we engage a real estate negotiator (REN). He advised us the current market price based on some recent transactions. Here’s a place for us to check recent transactions;
Brickz.my
  After the advertisement is up for a few days, our REN tells us a potential buyer called and wanted the selling price to be reduced by 30 percent. What will be our reaction? Maybe this: “Are you crazy?” I think this will be the reaction. In fact, this will be the reaction even if that someone asked for just a 10 percent lower price. Well, this is the buyers’ market as they say. (I disagree yeah, especially for
really in-demand areas. Read this: Location Supply Scarcity.

A close friend just called the other day and told me that the price of my condo in Penang is now down by 30 percent. I said ‘that’s great news. Please recommend the REN who said so to contact me so that I can see if I should buy another unit.” Well, the agent has not called yet….

Anyway, this is not just for the Penang or KL property market. This happened to this famous billionaire investor in Laguna Beach, U.S. His name is Warren Buffett.
The full article in ocregister.com here: Billionaire Warren Buffet chops price on his Laguna Beach home to $7.9 million
  Last year, he wanted to sell his ocean-view house for US$11 million (RM45 million). It was not sold and now, the home is in the market for US$7.9 million. (RM32.32 million).  That’s a 28 percent drop from the original asking price.  The home is a 3,588 square-foot home and is a 6-bedroom house in Laguna Beach. He has owned the home since 1971 when he paid S$150,000 for it. (Yes, $150,000!!)  The home is only a block from the ocean and most rooms have views of the surf and rocks. There is a large family viewing deck which is separated from the main house. He uses the home only as a vacation home. This was not the only home Buffett has in the neighbourhood. He sold a house adjacent to this one for $4.3 million in 2005. That was a home for guests to stay. By the way, Buffett’s net worth is estimated to be around $86 billion (RM352 billion) by Forbes.
The full article in ocregister.com here: Billionaire Warren Buffet chops price on his Laguna Beach home to $7.9 million
  The image in featured image is also from the same website.

Coming back to the decision to sell a home we own. It’s far more important to understand the reason to sell. If it’s because there’s a potential good buy in the market, then selling our home faster is much more important than waiting for the next 9 months for a buyer. Else, we lose that opportunity to buy an undervalued property just because we think we are not getting a good price for our property. Of course, if we are ONLY thinking of putting it on the market to gauge the price, we could also do that but Ido pity that REN handling our case. Remember yeah, if your property has been ADVERTISED last year and it was NOT SOLD until this year, anyone searching for the same property may see the price. It’s not such a good idea because now the buyer will be even more motivated to negotiate for a lower price. Happy selling and buying. Market’s good I think.

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written on 26 Aug 2018

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Richest? Richer by US$92 Billion.

Millions, billions and trillions. No, it’s not RM. We are talking about US$. According to Bloomberg Billionaire Index, the networth of the world’s richest 400 stood at US$4.1 Trillion. In fact, within 2014 alone, these people added US$92 Billion to their collective fortune. The amazing thing is, this is in the face of the falling energy prices as well as the many geopolitical turmoils of today. The biggest gainer is someone who everyone knows as owner of Alibaba. I think this will be a huge competitor to many current established players in the e-commerce space. As soon as his company got listed, he exceeded Li Ka-Shing’s wealth briefly. Moving forward, I think as long as Alibaba continue to perform to expectations, he should exceed any traditional business owners easily. Online is always fascinating if you can make it huge.

Another two very famous people who also gained a lot would be Warren Buffet, with an additional US$13.7 Billion as well as Mark Zuckerberg who gained US$10.6 billion. Bill Gates gained US$9.1 billion during the same period. Of course, when we compare the time that these billionaires gain their billions, I think Mark Zuckerberg is considered ‘lightning speed’. Again, it’s online business, just like Jack Ma. Before everyone rushes to start an online company, do note that the failure rate is higher than any other type of business. Instead of the usual manufacturing which builds on demand, any online business would always be losing money from day one until they receive financial support and it will still continue to run at a loss. Most of these online businesses never made it in the end but for venture capitalists, just one which can made it would mean they win big.

Personally, I think majority of us would never become any one of these multi-billionaires. However, what can we actually learn from some of these people? I think it is the passion. With passion, we would work hard. When we work hard, the results are almost always better the those who did not work hard. Yes, of course sometimes, we happen to hit it big suddenly but if we do not work on what we have suddenly gained, very soon it will leave us. Just look at those sudden millionaires from jackpots. In a lunch recently, I was talking to a colleague who asked me what’s the best price to buy a certain stock. I said, if we follow Warren Buffet, he said we should buy undervalued companies after an objective research. The reason is because if the business is good, it will soon be mirrored in its stock price. Of course, this is very tough to follow because when we buy a stock, it would always be with the intention to quickly gain a lot within a short period of time. With this in mind, the stock we buy would also mirror our thoughts; a more speculative one. The same thoughts happen all the time when we are also buying a property. As soon as key is handed over the price increase should be 20% or more. If everything happens as what we envision all the time, we may need to queue a few kilometres just to buy a property. Our actions always mirror our thoughts. Happy thinking, dreaming or learning by doing.

written on 10 Jan 2015

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Get to know the 50 richest women in the world today.

How many names of the richest women whom we know? I got tired of that few names of richest men in the world. I think everyone knows them. There’s that online shopping guy, that electric car guy and that operating system guy and well a few more but the story has stayed almost the same. I am talking about all three from the U.S. yeah. What about the women then? Who’s the richest? Who’s new? Who’s because of family? Who’s doing it on her own? Here are the
answers from visualcapitalist.com
  I am serious, they have many interesting infographics and I have written about them before too.

How many do I know?

From the top 10 here (image below), I know #2 because she’s from Walmart. She’s an heiress to the fortune of Walmart. I know the #3 because she was the ex-wife of Jeff Bezos, the founder of Amazon. As part of the divorce settlement, she is now the #3 in the list of richest women. I know #5 as she is from a company which many Malaysians would also be familiar; Country Garden Holdings. The #6, we may not know her name but we know the brand she inherited. Mars. Yeah, that candy. #9 is Laurene Powell Jobs. Yes, she is the wife of a world respected figure, the late Steve Jobs.

Photo by Sagar Soneji on
Pexels.com

How many do you know?

What about all of you? How many could you recognise? Not that many I would think, especially if compared to the names of all the names of the richest men. It’s either the media love reporting the men more or that we love to read about the men more. It’s also important to note here that it’s also important to be an heiress to a family business too. The next thing to do is just to continue building up the wealth and remain entrenched in the list.

Image source:
Image in visualcapitalist.com

Image in visualcapitalist.com

If you like to see the 11th to the 20th, here is the image (below). To know the rest of the
top 50, click on the visualcapitalist link
. Within these top 20, we could see the U.S has a major share in the top 10 richest women. 50% of the top 10 list. However, when we look at the next 10 which is 11th to 20th, there’s only 1 representative from the U.S.  Meanwhile China which took 2 out of 10 in the top 10 is now prominent in the next 10. It has a total of 6 (adding Hong Kong) too. Number 18, Kwong Siu-Hing is of Sun Hung Kai properties.

What can we do about it?

As we could see from the list, they become rich because they have a business which everyone loves to buy from. It could be a generation or two before but still it’s a business which has continued to do well over time. So, if we are looking for a chance to become a billionaire, then perhaps an entrepreneur route is the only way.

It’s okay, be grateful

By the way, it’s still possible to life a happy and fulfilling life without becoming a billionaire too. Be grateful and continue to make this world a better place.  Go and enjoy your teh tarik now. best to make one at home yeah.  Staying safe is the priority right now. Take care.

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Riding the storm with an eye for the future. Inspiring sentence for all.

The sentence was from Singapore’s Deputy Prime Minister Heng Swee Keat. (No prizes for guessing who will be the next in line to become the Prime Minister of Singapore yeah).  He was announcing the BUDGET for Singapore and it’s aimed at a larges fiscal boost to the Singapore economy which has been affected by COVID-19.  He made it clear however the budget is not just for weathering of the COVID-19 but will support Singapore’s long-term goal of economic transformation.

Article in straitstimes.com
 .  Singapore Deputy Prime Minister Heng Swee Keat said, “This virus outbreak will have a fairly negative impact on the global economy and also on the Singapore economy.” However, he said that Singapore will still see a positive growth for 2020. The Budget will support this growth by providing a failr large fiscal boost to the economy.

said Mr Heng in an interview with Bloomberg Television yesterday. Despite that, he said, Singapore still expected to see some positive growth this year “and this Budget will provide a fairly large fiscal boost to the economy”, though much depended on how the virus hits the global economy in the coming months. He said, “We’re dealing with a Budget not just in the short term but using the stabilisation measures… to also work on our transformation.” The article is a very comprehensive one. Please refer to
Article in straitstimes.com

I think what the Deputy Prime Minister said should be applicable to everyone who’s a working professional too. (majority of everyone anyway).  COVID-19 provides an opportunity for those who wants to buy undervalued properties, stocks and even many other investments which has now become more attractive due to current negative sentiment. It will not be here forever, just as COVID-19 will soon be a thing of the past when a vaccine is found and rolled out to the world. There are already countries where they said the vaccine is already in testing stages.

COVID-19 does not also change the fact that changes will continue to happen. Just look at how A.I. and robots are already transforming the job market. Retrenchments are going to continue happening and for many jobs, it’s no longer a question of if but more of when…  Could we do something else when we are laid off? This is ‘an eye for the future.’ Happy preparing.

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Right focus is essential. Use the right chart please for Covid-19.

Right focus is essential. Use the right chart please for Covid-19

Do you know what will happen once the SOPs are relaxed? Covid-19 total cases will rise. This is quite guaranteed and has happened in many countries all over the world. Whether it’s U.S, whether it’s the UK or many European nations. As soon as they relaxed the SOPs, Covid-19 cases rise. The difference?

The hospitalisation number does not increase like previously, when vaccination numbers were way lower than today. This is why there is really no need to show the number of new infections because even IF the number is stable, once SOP is relaxed numbers will still rise. Below image shows infectivity numbers which is no longer the right focus even if important.

Vaccines vs infectivity?

There are NO vaccines are which totally effective against infectivity when it comes to Delta. Look at all the countries, even those with lots of Pfizer… lots of AZ… whatever… the cases are rising.  However, all vaccines are effective against hospitalisations. Means they reduce severity of all the infections. That’s what is more important.

Infectivity details by categories much more important

This below chart is much more important and all media must show this instead moving forward. Or are these media companies JUST WANT to show a higher number so that more people click to read, click to comment? Think about it and decide yeah. There are no advantages for the whole nation to feel negative.

SOPs MUST REMAIN, not total lockdowns because of infectivity numbers

Everyone MUST be forced to still wear masks. Every shop MUST still only allow those with masks to enter. Everyone MUST still scan MySejahtera before they enter. In fact I would like the carrot approach where fully vaccinated people gets more flexibility in travels and movements. This will encourage more people to get themselves vaccinated. SOPs must remain so that cases do not rise indiscriminately. It will rise yeah…  Happy getting yourself vaccinated. My 2nd dose is 24th. yes, it’s my favourite vaccine, AstraZeneca.

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Right product and Right pricing, always true. (whether crisis or none)

Every time someone asked me if the market is still okay to buy, I tell them that it should be the product and the price and not the market. In a rising market, one may be lucky because rising tide lifts all boats. However, markets do not rise forever and when the tide recedes, we will then see who’s swimming naked… So, when we bought the wrong property at the wrong price, we need to be VERY LUCKY to sell at the right time. Else, focus on the right product and the right pricing and suddenly the market is no longer an issue.

In fact someone told me that we should not be buying condo because there are too many condos in the market. Seriously, most Malaysian professionals could only afford a high-rise. Even a condo can be a premium especially since most condos are already priced above RM500,000 these days.

Everyone knows landed is a premium and will continue to be a premium due to scarcity and not necessarily due to feature superiority alone. So, it’s not an easy decision of buying a high-rise closer to the city centre or a landed much further away. (similar pricing). As for right product and right pricing, here’s someone prominent from the developers sharing a similar idea to the world.

Article in NST here.
 Sarena Cheah, Sunway Bhd property development division managing director said, “If you look at the headlines, outlook on all the markets are uncertained and a bit more volatile. In every market, even though there is uncertainty and it is a bit volatile, there is a segment of opportunity where we can still launch. In the end it is about the
right product and right pricing.
”

She added, “Last year was not that hot as well, but majority of our launches garnered very successful take-up. In every market, there is always space to play and that is why we are very bullish on executive condominium. We are going into this. We are looking at executive condos, other then goodwill, which is also a very good site. In the end it is looking for the opportunities at the right price. So when we are buying land, we will look at it at the right price and when we launch, we will look at the right pricing.”
Article in NST here.

When times are slow, land becomes an important target for the future. One very good example? Today, I have real estate agent friends telling me that the market is slow and at the same time, I have real estate agent friends telling me that they are closing 1-2 deals per month for factory / land. Yes, this is a tip. Many know that slow market does not last forever but good deals are not easy to find except during slow times.

By the way, this is what Sarena said in the article too, “I do feel that there are opportunities. We are looking at them. We are cautiously exploring because markets are correcting…
A good time to look for landbank is when the market is correcting.”
Article in NST here.
 One property expert I respect said that 2019 may well be the bottom. The only issue is whether catalyst(s) could be found to propel the market or not. Frankly, I agree. That’s why I write articles such as these as well:
Uncertainty never good for any market  or country
. We need firm direction yeah. Happy following.

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written on 3 Feb 2019

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Bandar Rimbayu’s BIG FUN DAY was fun for my kids.

Branding as they say involve doing a lot of things that people remember you for, positively. If they believe your event is good, well organised and the crowd you invite is also the crowd they feel comfortable with, the chance of them buying something from you grows. I think this is the reason why I received invitations every week from developers. Unfortunately, I was not around in KL most of the time. I did attend one by IJM on Sunday. Below would be a short write-up of the event which I think was well organised even if the weather on the day was extremely ‘SUNNY.’ Oh yeah, on the way in, I drove past a galloping horse. My daughter asked, ‘Why is the horse so slow?’ Hahaha… Well, perhaps it’s because the horse is ONE horsepower. 🙂  The development was actually right next to two other developers; Tropicana and Eco World. If you ask me, I would always prefer a new and growing development. While my colleague swears by her Kota Kemuning project, I think as a whole, Shah Alam is still growing and it is the capital city of Selangor which is a plus point too.

It was around noon when I arrived at Rimbayu’s Big Fun Day. In brief, it’s an IJM development and it was a family day. There were lots of people and from the type of cars parked there, I think they have the right target market attending their event. In the whole row of non-national cars, my Exora stood out a lot. Haha. Anyway, my daughter had TWO cotton candies because her brother did not like his. The popcorn was okay and we had lots of fun playing games to win stickers in order for us to exchange gifts. Getting two basketballs into the net proved harder than I thought and well after winning enough stickers for two bottle of bubble mix bottles, my kids went to play inside the gallery while I took a look at the show houses available. Sorry, no special room by room review but suffice to say, this is definitely a development worth consideration if Shah Alam is within your area of consideration. Note though that staying here and driving to KL city centre would take you around 35-50 minutes in the morning. Here’s the website:
http://rimbayu.ijmland.com/projects

I left after staying for 2.5 hours. (Queuing up did take some time) My daughter was a little disappointed though because her idol, Danny from Xiao Tai Yang was only due to arrive close to 4pm. That’s way too late for me. Need to let both the kids sleep. There was little intrusion from the sales teams. The event was focussed mostly on kids which I think is the right target market. 🙂  I think I would also like to visit the other two developments right next to them. Benchmarking is always good. Allows all three developers to do something different to appeal to the potential buyers. I told my wife, ‘If all three developers were to do a joint event where tours can be conducted for everyone into all three developments, I think this will beat many other stand-alone developments nearby.’ She agrees too as we do not need to travel three times in this case. We shall see if any of their marketing departments read this article and decided to do it. Happy viewing.

written on 13 Feb 2017

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Press Release: Rimbun Aman Raises The Bar On Affordability Standards

Reunion-inspired compact homes ensure that there is always space for family

As the price of properties continues to soar in the city, the Malaysian dream of having their own home seems to drift further and further away. Even if there are homes within the average budget, these are often times too cramped to meaningfully accommodate the growing needs of a modern family.

Hence award-winning property developer IJM Land has stepped in to decisively solve this conundrum with its offering of choice homes for the picking. Nestling within the fully integrated township of Seremban 2, Rimbun Aman marks some of the latest projects under the affordable housing category.

Homebuyers are invited to participate in the fulfilling lifestyle here, accentuated by the sustainable environment and the wealth of contemporary conveniences.

Spanning across 42 acres of freehold land, Rimbun Aman comprises 304 units of single-storeyed link homes, registering a total gross development value ( GDV) of RM125mil.

With prices starting from RM 350,000, the built-up ranging from 971 to 1,135 sq ft is very generous. By default, each unit comes with three bedrooms and two bathrooms. Departing from the raw statistics, the layout and design of the unit is a matter that requires artistic interpretation bordering on the philosophy.

Where less is more

A space is only as spacious as the person who manages it. The creative and innovative mind determines if a small home could look huge, and the inverse applies. The full potential of the homes of Rimbun Aman is revealed at the newly launched show unit, being influenced by the power of concentric circles.

High quality, well-crafted and enduring furniture are meticulously selected, their distinguishing arcs bring to life the round shape from which the concept was derived. Based on the theme of Togetherness, the homes and corresponding decor are specifically crafted to accommodate large numbers of people in a supposedly small area.

For example, the dining table can be extended to accommodate additional guests, a vital attribute for any host intending to conduct a reunion or gathering. Storage slots have been discreetly incorporated into the living area, and one of the drawers at the kitchen can further be extended to transform the place into an L shape. One of the kitchen parts also has a retractable tabletop should you need additional space for food preparation.

Aesthetics are practical and functional, elegant yet flexible to meet the changing needs of one’s lifestyle. Flexibility also pervades the bedrooms, where configurations are made to maximise space utilisation.

Since the units have a high ceiling, it is a simple matter to transform the bedrooms into a multi-level bed configuration, which allows for ample headroom and sufficient storage space. Take for example Bedroom Two that features double-decker super single beds, allowing two people to sleep comfortably in various positions. But that is not all. The stairs leading to the top bunk serves as a storage space, and the bottom level with the tatami bed has a compartment beneath.

On the other hand, Bedroom Three displays a retractable bed that can be converted into a desk for study or work. Every element has been thoughtfully chosen, their collective sum echoing the adage that less is more.

“The purpose of the show units is to exhibit the true value of space by utilising it to the fullest. We believe family is the most valuable possession we can have in our life, and as such, a good home is one where it is able to host everyone within it. And not just that, but to function as a catalyst for meaningful family interaction to happen. This reunion-styled decor is a nod to homebuyers that regardless of the space, we can all be united together in a loving environment,” said Dato’ Hoo Kim See, Senior General Manager (Central Region) of IJM Land.

Encompassing all your living needs

From a macro-perspective, Rimbun Aman presides over a strategic confluence, its placement being deliberate to synergies with nature and the built environment. Healthcare centres are within driving distance, and this is further complemented by the neighbouring shopping malls and educational facilities, forming a balanced live, work and play ecosystem.

Poised within the township of Seremban 2, residents get to enjoy a tranquil country atmosphere replete with green spaces. Numerous community-friendly facilities are interspersed within the dedicated 45-acres in total park space, uniquely designed and subtly positioned to foster friendship among the residents.

Take a short stroll down the idyllic paths of the 15-acres City Park, and you can bear witness to the wealth of activities, which range from basketball, kite-flying, tai chi, and more. A vast four-acre lake forms the park’s nexus, its cool expanse serving as a sublime treat for the eyes.

Crowning the apex of Seremban 2 is the 30 acres Hill Park which hosts a mini dinosaur-themed playing area, just the place for families with children to relax and be entertained. Those interested in a strenuous workout can check out Kepayang Hill, a renowned hiking trail among trekking enthusiasts. If the outdoors is not your style, then head inside the S2 Club, a community themed recreational club and sports complex that is bound to entertain.

“The perfect township constitutes various factors, and we are proud to state that Seremban 2 fulfils most of them. Homebuyers get to enjoy modern conveniences without the noise and pollution inherent in the city. At the same time, they are surrounded by a lush environment filled with the abundance of nature. We at IJM Land, are at the same time, proud yet humbled to be a positive force in enabling this healthy and vibrant community. This thought only drives us to continue providing more for society,” said Dato’ Hoo.

With regards to the town planning, the main arterial road system is prudently built to keep the bulk of traffic away from the residential precincts. Being a six-lane dual carriageway, it branches out into a network of roads that link to all sectors of the township, further facilitating the flow of movement.

Speaking of connectivity, residents have easy access to the North-South, ELITE and LEKAS Highway, making it a mere 45-minute drive from the township to Kuala Lumpur.

Not only that, a toll-free road connects directly to KLIA and KLIA 2. This accessibility allows residents to reach other points of interest within the capital of Malaysia and beyond. All these conveniences add up to create the perfect environment for families to prosper, grow and flourish.

To arrange for a private viewing or further inquiries, call 1800 222 456.

For more information on Rimbun Aman, please visit
here
.

-End-

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