ISSUE 8, JUL/AUG 2013
A SNAPSHOT OF SELANGOR - THE MOST POPULOUS STATE IN M’SIA
台湾建筑开发商代表团 赴马考察房地产投资新机遇
LATEST RETAILING TRENDS TIPS ON BUYING PROPERTIES IN LONDON AN UPDATE OF PENANG PROPERTY MARKET
focus: retail...
Zang Toi’s West 57th St Cafe
LATEST RETAILING TRENDS While major retail companies are underperforming or closing down, the retail industry in Malaysia has remained robust. From the hottest trend of gourmet burgers, liquid nitrogen ice cream and the zakka movement to the independent coffee cafes and modern bicycle shops, there never seems to be enough to satisfy the ordinary Malaysians! Retail industry during economic downturn The pro-longed European debt crisis has severely affected the retail industry of United Kingdom. Since 2007 until middle of 2013, 263 chain retailers failed. This affected 24,435 retail outlets and 219,352 employees. For the first half of this year, there were 36 retail companies went into administration. Major casualties include Dwell (furniture), Modelzone (toys and games), Ark (fashion), Internacionale (value fashion), HMV (music), Jessops (camera), Blockbuster (video rental), Republic (fashion), Dreams (beds), Comet (electrical), Gelert (camping equipment), Lisa Ho (fashion), Past Time (modern antique), White Rabbit Records (music), Infinity Furniture (furniture), Coggles (fashion), Xtra-Vision (entertainment), Leslie Cass (jewellery), Textiles Direct (curtains and bedding), Ortak (jewellery), Spirit (fashion), West 2
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One (fashion), Excellar (wine), Godfrey (DIY), D.J.Jenkins (general store), La Senza (lingerie), Gio Gio (menswear) and Ethel Austin (budget store). Online retail business was not spared either. Failures during first half of 2013 included PleaseandThankyou (home and garden), Style Passport (fashion), Slurp.co.uk (drinks), etc. On the other hand, the retail industry in Malaysia has remained vibrant and healthy despite the world’s depressing economic environment during the last few years. Since the mid 2000s, Malaysian shoppers began to learn how to live a meaningful and healthy lifestyle. They are more knowledgeable on how to shop for quality products and services at low prices. Due to the widespread of internet for the mass population, they are able to learn more about quality of products and services prior to their purchases.
Unfortunately 50% of retail businesses tend to fail after one year and another 30% will close down after the third year. They acquire knowledge from retailers’ websites and social media networks on the products and services before they make the purchases. They will only patronise retailers that offer genuine discounts and good quality products. Latest retailing trends Despite the poor economic environment, Malaysian retail market is still attracting locals and foreigners to set up retail shops and foods & beverages outlets in the country. Unfortunately, 50% of these retail businesses tend to fail after one year and another 30% will close down after the third year. Nevertheless, it has not deterred entrepreneurs and companies from setting up new retail businesses.
Collins (Mont Kiara), PH Pastry House (Salak South), Free Mori (several outlets), House of Croissant (Salak South), Watercolour (Mont Kiara), Dragonfly (Bukit Bintang), Our Daily Bread (Mont Kiara), Blackstone Bakery (Klang), Wheatz & Grainz (Taman Tun), Bread of Life (Petaling Jaya), etc.
The trends of ice tea, frozen yogurt and ramen in the last 2 years have reached its peak and it is in the process of market consolidation. Currently, there are more than 100 ice tea operators in Malaysia. This should reduce by about 30% in the next two years. Nice bakery cafes are still growing and spreading throughout the country. In Klang Valley, more people are willing to pay more than RM15.00 for a loaf of gourmet bread. The latest overseas addition is Tous les Jours, a Korean bakery cafe, opened in Bangsar Baru, Kuala Lumpur, Other examples of nice bakery cafes in Klang Valley include The Loaf (several outlets), Lavender (several outlets), Bonjour Garden (Sunway Damansara), Tommy Le Baker (Jalan Ipoh), Food Foundry (Petaling Jaya), Tedboy Bakery (Bangsar Baru), Ficelle (Taman Desa), Craft Bakers (Mont Kiara), Tokyo Pastry (Sunway Damansara), Top Pan (Seri Petaling), Touche (Petaling Jaya), Shakespeare (Subang Jaya), Breadtime Bakery (Bukit Jalil), Bon Bon’s (Damansara Jaya), Marquise (Bangsar), Little
Local homemade commercial ice cream that can be ordered online or eaten at selected cafes are also trendy in Klang Valley. Major players are The Potong, The Last Polka and Fatbaby Ice Cream. All of them offer interesting and unique flavours. The Potong has cherry root beer, waterlemon (watermelon and lemonade) fizz, neon kiwi and coco banana. The Last Polka created unique flavours such as salted gula melaka, French toast, Guinness, nutella, teh tarik, Horlicks as well as malt & peanut butter. Fatbaby offers flavours such as peanut butter & fudge, coconut candy, corn flakes and apple crumble. Fashion boutique cum cafe is not considered new but it has become more high profile in the last 2 years. Zang Toi’s West 57th St Cafe is one of the HB HERALD. JUL/AUG 2013 3
pioneers in this concept when it started in Lot 10 many years ago. This cafe is now found within Parkson Pavilion Kuala Lumpur. Some of other examples include Hummingbirds Cafe (Bangsar), Luvsierra Boutique (Bangsar South), Renoma Cafe & Gallery (Bukit Bintang) and Elegantology (Mont Kiara). At this moment, the hottest retailing trends are gourmet burgers, liquid nitrogen ice cream, the zakka movement, independent coffee cafes and modern bicycle shops. Gourmet burgers There is a crazy explosion of gourmet burger restaurants in Klang Valley during the last one year. It serves burger meals two to three times the prices of similar meals sold in McDonald’s and Burger King’s. MyBurgerLab located in Petaling Jaya started this trend just a year ago. Today, you will also find Kaw Kaw Burger (Subang Jaya), Smashies Burger (Setapak), The Grind Burger Bar (Petaling Jaya), Wallop Burger (Petaling Jaya), Burgerbyte (Sentul), Big Hug Burger (Subang Jaya), The Burger Factory (Kota Kemuning), Bert’s Jr Burgers (Kota Damansara), Big Chomp Burger (Subang Jaya), KGB Killer Gourmet Burger (Bangsar) and Go Burger Kitchen (Puchong). Zakka shops ‘Zakka’ came from the Japanese word ‘zak-ka’. It means small things used in everyday life. The term refers to everything and anything that improves your home, life and appearance. It sells lifestyle-driven household items, fashion items and handicrafts from the west as well as Japanese goods from the fifties, sixties and seventies. It is now a fashion and design phenomenon that has spread from Japan to other parts of Asia. Several zakka shops have been set up rather quietly in Klang Valley but it is expected to become a trend in the next few years. Examples of zakka shops in Klang Valley are Mori Zakka in Sunway Pyramid, Hikosen Care in Pavilion and Mid Valley, Pipit Zakka Store in Cheras, Zakka Plus Lifestyle Store in Seri Petaling, Poco Homemade in Bangsar, Tokyo Kitchen in Sunway Damansara, etc. Zakka products are also sold online and at flea markets in Malaysia. 4
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Liquid nitrogen ice cream Liquid nitrogen ice cream is made fresh to order. You order the ingredients and liquid nitrogen straight from a big tank will freeze all the ingredients together into ice cream. Making this type of ice cream is fun to watch as it creates clouds of vapors. This type of ice cream does not need stabilizers, additives and artificial food colouring. Because it freezes fast, the ice cream is extra creamy and ice crystals do not have a chance to form. This type of ice cream is gaining popularity in United States.
DIB coffee cafe is located in Damansara Perdana, it is managed by deaf people. Jing Si, with more than 30 outlets in Malaysia, is a religious bookstore that serves a decent selection of coffees and teas. It is an excellent place for reading and work. Diners who travel by bicycles to Coffee Famille in Kota Damansara will enjoy discounts on its drinks and foods.
Liquid nitrogen ice cream was first introduced in Malaysia by N Brew. N Brew set set up a kiosk at the concourse of eCurve in Mutiara Damansara and moved to Mid Valley Megamall later. Other new players include Ooh My Gas (OMG!) in Pavilion, Just Like It in Cheras Leisure Mall and One Utama as well as Creme de Fume in Plaza Shah Alam. Their prices range from RM7.00 to RM14.00 per cup. Independent coffee cafes Since last year, sipping a small cup of gourmet coffee priced at RM 25.00 is also a new trend in Klang Valley. This is due to the growth of numerous independent coffee cafes in Malaysia. Some of the independent gourmet coffee cafés found in Klang Valley includes Typica (Pudu), Dotz Café (Kota Kemuning), Whisk (Subang Jaya and Damansara), RAW Coffee (Jalan Ampang), Moon Tree (Jalan Sultan), Artisan Roast (three outlets), Await (Taman Desa), Hot Shots (Mont Kiara), Top Brew (Hartamas), The Brew Culture (Hartamas), Coffee Stain by Joseph (Mont Kiara), espressolab (two outlets), Coffee Societe (Mont Kiara), Mollydooker’s (Damansara Heights), La Kaffa (Puchong), Poco Homemade (Bangsar), Coffea Coffee (Bangsar), Butter + Beans (Petaling Jaya), Kaffa Expresso Bar (Damansara Utama), Tipsy (Puchong), Caffeine (Puchong), Pedro Espresso (Mont Kiara), LewisGene (Mont Kiara), Coffee In Love (Mont Kiara), The Scurp (Old Klang Road), Paper + Toast (Bukit Bintang), Coffee Chemistry (Subang Jaya), Griffiths Coffee (Petaling Jaya), LonBay (Kelana Jaya), The Warehouse Cafe (Jalan Tun HS Lee), Royal Post (Damansara Intan), Mr. & Ms. (Ara Damansara), Sao Paulo Coffee (Ara Damansara), Epiphany Coffee (Ara Damansara), MyEspresso (Subang Jaya), etc.
Modern bicycle shops Bicycle shop was considered a sunset industry in Malaysia, except for outlets cater specifically to the sports industry. It has just been rejuvenated due to the current green movement. Cycling to retail shops, nearest LRT stations, schools and parks are now considered cool for city urban dwellers. They save environment too! Some of these bicycles cost more than a motorcycle. Examples of modern bicycle shops are Rodalink (several outlets), Bike Tech Subang (Subang), Pedal Spot (Seri Petaling and Petaling Jaya), Sen Aik (Shah Alam), Trek Bicycle Store (Mont Kiara), Van’s Urban Bicycle (Petaling Jaya and Shah Alam), FHL Sports.com (Sentul), Velocipede Works (Sunway), etc. Grafa in Subang Jaya operates a cafe with its entrance displayed with bicycle gears and related merchandises. HB
The writer Mr. Tan Hai Hsin is the managing director of Retail Group Malaysia and Henry Butcher Retail.
HB HERALD. JUL/AUG 2013 5
THE
MODERN I ST AN IMPORTANT COLLECTION OF MALAYSIAN ART SINCE THE 1980 S
A U C T I O N D AY S UNDAY 2 2 SEPTE MBER 2013 S I ME DA RBY CONV ENTI ON CENTR E, KUAL A LUMPUR
SINGAPORE PREVIEW
KUALA LUMPUR FULL VIEWING
Opening 5 September 2013 7pm, preview runs till 8 September 2013, 11am-7pm Helutrans Artspace
Opening 11 September 2013 7pm, preview runs till 21 September 2013, 11am-7pm Black Box, MAP@Publika
39 Keppel Road #01-05, Tanjung Pagar Distripark, Singapore 089065.
Level G2-01, Block A5, Dutamas, 1 Jalan Dutamas 1, 50480 Kuala Lumpur, Malaysia.
IBRAHIM HUSSEIN, DATUK - Saying It with Colours, 1982, 152cm x 152cm, acrylic on canvas
25, Jalan Yap Ah Shak, 50300 Kuala Lumpur, Malaysia. t. +603 3089JUL/AUG | f. +6032013 2691 3127 6 HB2691 HERALD.
| www.hbart.com.my | info@hbart.com.my
Enquiries: Chris Tay +6016 298 0852 | chris@hbart.com.my
HB HERALD. JUL/AUG 2013 7
business excerpt...
台湾建筑开发商代表团 赴马考察房地产投资新机遇 由台北市建筑开发商业同业公会理事长，陳春 銅先生所带领的台北市建筑开发商代表团与马 来西亚亨利行以及联马置地于2013年6月14日上 午在联马置地的新办公楼Suasana Bukit Ceylon进 行了一场马来西亚房地产市场研讨会。此次由 香港公司pH Capital Limited牵线的交流会旨在让 台湾开发商了解更多马来西亚房地产业的资讯 和市场走向及探讨有潜质的投资机会。 陳理事长表示台北建筑开发商这次选择前来马 来西亚为他们寻求海外发展机会的首选国家， 主要因为马来西亚房地产业正处于良好的发展 状态，尤其首都吉隆坡的租金回报率也高。陳 春銅先生同时也是良茂机构的董事长和中华民 国建筑开发商业同业公会全国联合会的常务理 事。其他的台湾开发商代表有大陆建设的董事 长张良吉先生，富广开发的总经理张超建先 生，财团法人教育兴革文教基金会的董事长鄧 永钱先生，安普羅的董事长黄丁士先生，新润 建设的业务部副理刘毅刚先生，宜均地政士事 務所的地政士郑淑微女士等。 在本次研讨会上亨利行零售产业部执行董事陈 海信先生，张愫倚总经理以及海外业务经理李 湘菱小姐与在场来宾进行交流，并通过数据和 实际案例，让参会的嘉宾对三个主要产业，住 宅地产，写字楼和零售产业有了更深一步的了 解。 亨利行的资料显示，从2007年至2012年期间， 马来西亚房地产的交易量上升了38%，交易额 上升了85%，房产价格在未来几年趋于稳定。 马来西亚房屋价格指数显示独立洋房和有地的 房屋其上升幅度比其它住宅种类来得高。马来 西亚的住宅地产在2007至2012年里，其交易量 上升了37%而交易额则上升了86%。在巴生谷， 8
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左至右：陳春銅先生代表台北市建筑开发商业同业公会 赠送台湾特产予联马置地首席执行员谢雷鸣先生和亨利 行代表邓志明先生。
随着捷运及轻快铁延长干线计划的发展，预料 沿着这两项计划路线的地段和房产，它们的价 值和需求也将大幅度地增加。同样地，马新跨 国轻快铁系统及新加坡直通吉隆坡高速铁路计 划也将带动依斯干达特区及吉隆坡两地的房产 价格走向和未来发展蓝图。 在写字楼方面，位于双峰塔一带的A级写字楼 的市场需求比其它市中心的写字楼来得高，租 金也比其它地区的写字楼更胜一筹。吉隆坡办 公空间的未来市场供应即将竣工的净出租面积 高达1，017万平方尺而新山则将贡献59万平方 尺。虽然市场担心写字楼在未来几年内或将出 现供过于求的现象，既影响2013年到2015 年的 入住率,但整体来说写字楼的产业前景还是处于 健康的状态。市场对吉隆坡和新山的写字楼产 业持有乐观的态度。 零售产业与经济息息相关。马来西亚政府在过 去几年内给予人民种种的津贴如低入息家庭扶
助金和低入息個人扶助金等间接地提高了消费 指数，也让零售产业保持一定的成长。在2012 年零售市场的年增长率是5.5%而2013年的第一 季度增长率是7.5%。巴生谷现今拥有210间购 物中心，平均每月租金为RM10.40每平方尺。 巴生谷的购物中心的租金差别很大，在同一地 区的购物商场，它们的租金或可相差别两倍。 新山现今拥有64间购物中心，平均每月租金为 RM7.43每平方尺。在2013/14年，巴生谷将会增 加18间购物中心，既新的零售空间将会有818万 平方尺，而新山将会增加5间购物中心，新的零 售空间则会有220万平方尺。同样在新山，一些 在1997/98年因亚洲金融危机而被遗弃的购物商 场也因依斯干达经济特区的蓬勃发展，重新被 新买家收购及翻新，这新的契机让新山零售市 場变得颇为活跃。
联马置地首席执行员谢雷鸣先生向嘉宾展示及 解说联马置地目前现有以及未来即将开发的大 型房地产项目，如位于吉隆坡双峰塔对面的高 级公寓和两项坐落于新山的大型综合性房地产 项目等。谢先生也展示了一些能与外资共同开 发的房地产项目，并欢迎台湾开发商们前来参 与。 此次研讨会由联马置地友情赞助。参与研讨会 的马来西亚代表还包括马来西亚亨利行董事林 永聰先生，董事龙田澤先生，营业总监邓志明 先生，以及香港代表有行政总裁Henry Hooi先生 和董事总经理叶力升先生等。 HB
亨利行企业传讯部, 郑联汉报道
在2008年至2012年期间，共有256台湾人士成功获得马来西亚我的第二家园签证。上涨趋势 可显示马来西亚政府在各个国家如在台湾所做出的宣传活动奏效和越来越多的台湾朋友把 马来西亚作为可退休和居住的国家之一。
HB HERALD. JUL/AUG 2013 9
FOR SALE – Brand New Tourist Class Hotel In the Heart of Seoul, South Korea SUBJECT PROPERTY
The Subject Property is a brand new 12 storey tourist class hotel with 363 rooms located in Insa-dong, the quaint neighborhood of the Jongno-gu district in the centre of Seoul. The hotel is scheduled to open for business in September 2013 and a well-known international hotel chain has been appointed to manage the hotel.
PROPERTY DETAILS • • • • • • •
Land area: 2,000.86 m² (605.26 pyung) No. of storeys: 12 storeys high with 2 basement floors No. of guest rooms: 363 Other facilities: business centre, fitness centre & spa, 4 meeting rooms, a restaurant and a bar Standard double room: 17 sq m Standard twin room: 19 sq m All rooms are equipped with flat screen LCD TV, heating and air-conditioning systems, in-room safe, work desk, wireless and broadband Internet access
LOCATION
Insa-dong is a popular destination for tourists in Seoul. Insa-dong street, together with a multitude of side alleys, is the focal point of Korean traditional culture, arts and crafts. Stores in Insa-dong offer a wide variety of goods epitomising Korean culture: hanbok (traditional clothing), hanji (traditional paper), traditional teas, pottery, paintings, ceramics, antiques, books and folk crafts. Insa-dong is close to other popular tourist attractions such as Cheonggyecheon Stream, Changdeokgung and Gyeongbokgung (the royal palace during the Joseon Dynasty). Other attractions include Bosingak bell pavilion, Jongno Tower, Samcheongdong and the Asia Eros Museum which is purportedly South Korea’s first museum devoted to sex. The shopping, entertainment and cultural districts of Gangnam and Gangbuk are located closeby. Distance from hotel to shopping districts • MYEONGDONG shopping district (2.13 km) • DONGDAEMUN shopping district (2.51 km) Distance from the hotel to the city centre • SEOUL (2.11 km) Distance from the hotel to the train station • JONGNO 3GA SUBWAY (0.46 km) Distance from the hotel to the airport • INCHEON AIRPORT (62.20 km) Special tourist area • GYEONGBOK PALACE (1.54 km / 0.96 mi)
PRICE
Will be disclosed upon request. 10 HB HERALD. JUL/AUG 2013
Approximate location of subject property
FOR SALE – Deluxe Business Class Hotel In Songdo International Business Park, Incheon Free Economic Zone, South Korea SUBJECT PROPERTY
The Subject Property is a 241 room deluxe business class hotel located within Songdo International Business Park, one of the key components of Incheon Free Economic Zone, a 40 minutes’ drive from Seoul.
PROPERTY DETAILS • • • • •
Land size: 6,368 sq m Building description: 18 storeys with 3 basement floors Parking capacity: 165 car parks Facilities: restaurant, coffee shop, business centre, fitness room, coin operated laundry & 4 meeting rooms. Facilities inside rooms include free wifi, fridge, safe, 32” LCD television, hair dryer, radio & coffee / tea making facilities Date of opening: Aug. 1, 2009
Room type
Size (sq. m)
No. of rooms
Standard double
25.74
43
Deluxe double
29.76
20
Standard twin
25.74
136
Deluxe twin
29.76
36
Ondol (traditional)
29.76
3
Suite (parlor)
57.75
1
Suite (royal)
167.11
1
LOCATION
The Subject property is located in the centre of the International Business Complex in Songdo Free Trade Zone in SongDoDong, Yeonsu-Gu, Incheon, South Korea. The Subject property is just a 2 minutes’ walk from the Incheon University subway station and a 13 minutes’ drive to Songdo Amusement Park. Other prominent landmarks located nearby include Incheon University, Jack Nicklaus Golf Course, Tomorrow City and Songdo Convensia. The Subject property is also closeby to the Complex Transfer Centre near exit 2 of the Incheon University Inpgu station of the Incheon subway and enjoys access to more than 40 airport limousine buses and inter-city buses. It takes only about 15 minutes to reach Incheon international Airport via the Incheon Great Bridge and about 40 minutes to Seoul via the First, Second and Third Seoul-Incheon Expressways.
PRICE
Will be disclosed upon request.
CONTACT DETAILS Mr Tang Chee Meng (tang.cm@henrybutcher.com.my) Ms Suyi Chong (suyi@henrybutcher.com.my) Henry Butcher Real Estate Sdn Bhd 25 Jalan Yap Ah Shak, 50300 Kuala Lumpur, Malaysia Tel: +603-2694 3688 Fax: +603-2694 2699 HB HERALD. JUL/AUG 2013 11
focus: overseas investment...
Buying Properties in London There have never been any barriers preventing foreign companies or individuals from entering London’s property market. Find out our 7 tips to make the right investment decision! It is now a worldwide highlight that Malaysia has gained a significant foothold in the London property market especially after our Prime Minister Datuk Seri Najib Tun Razak officiated the ground breaking of Battersea Power Station Development with Britain’s Prime Minister David Cameron early July this year. Along with aggressive investment acquisitions by the Malaysian consortiums, more and more Malaysians are considering investing in the UK properties while the Great British Pound (GBP) remains at a favourable rate. So what should you look out for before you purchase a property in London?
years’ timeframe. Understanding the vision of the regeneration scheme will be key to identifying what may be a gem in the making.
Location In any property purchases, the golden rule is location, location, location. Always note where the nearest public transport is, amenities, leisure facilities and its accessibility to core business districts in London. Generally, it is a norm for a Londoner to travel within 45minutes to work, therefore do not be too concern about the property being far away from central London; Zone 1 to 3 would be a safe bet. Most importantly, buyers should be realistic about their budget and find out which location is best suited to meet their investment objectives and risk appetite.
Financing There is a wide range of financing available for London properties at the moment. Accessible loans for Malaysians are available in Ringgit, Great British Pound (GBP) or Singapore Dollars (SGD) through banks like Maybank, OCBC and CIMB.
Project potential We usually advise our clients to purchase new builds or refurbished properties. Generally new builds come with a 10 year building warranty. Various parts of London are going through urban regeneration currently to improve the community and outlook of the area. These regeneration projects are usually in large scales and they are carried out in phases over an 8 to 15 12 HB HERALD. JUL/AUG 2013
Reputable developer It is important to pick a development by a good developer with strong track record with solid financial standings especially when you are buying off the plan. Payment terms are usually a deposit between 10% and 30% and the balance upon completion of project. Therefore a solid developer is required to ensure a timely delivery of your property purchase.
Ease of letting London is a mature property market. Letting procedures are done very professionally according to the law that protects landlords. It is important to engage a letting agent with a sound track record to give an accurate rental market value and arrange the letting and management of your property. It is a simple procedure and most investors find it convenient and straightforward. Cost of transaction and cost of holding It is always useful to find out the cost of purchase such as stamp duty and legal fees prior to your purchase. Most properties in London are leasehold apartments therefore holding costs such as service charge, ground rent, and management fee are to
it is a norm for a Londoner to travel within 45minutes to work, therefore do not be too concern about the property being far away from central London; Zone 1 to 3 would be a safe bet
be noted. There is no capital gains tax for foreign investors at the moment; hence your exit costs would be quite minimal. Consultation It is viable to seek consultation prior to your purchase. We are happy to help and assist you in your purchase, whether it is for own use or investment. Our consultants have transacted over hundreds of properties in London and are familiar with the procedure of purchase and rental by nonUK citizens.
Please feel free to call our Henry Butcher International Real Estate office at +603-7118 3800 during office hours or the general enquiry line at +6012-399 7379. HB
The writer Ms. Feng Wai Chia is the Assistant Manager at International Real Estate, Henry Butcher Malaysia.
HB HERALD. JUL/AUG 2013 13
feature...
As desirable as the enclave Embassy Row entails, Rimbun will be an additional landmark that will satisfy even the most discerning investors. Rimbun is a freehold contemporary condo, sleek and elegant with impressive spaces, high ceilings and a plethora of natural light within luxurious residential development situated in the matured vicinity of Ampang Hilir. Rimbun is a flagship project by Amphil Corporation Sdn Bhd, a Malaysian high-end boutique developer. Located within the prestigious and exclusive Embassy Row, one of Kuala Lumpur’s coveted precincts, Rimbun towers above all other 14 HB HERALD. JUL/AUG 2013
developments at 17 storeys high. There are only 56 units (2 units per floor per wing) with three types of built-up sizes, layouts and designs – the smallest being 3,500 square feet with 3 + 1 bedrooms (28 units), 4,500 square feet with 4 + 1 bedrooms (26 units) and 17,000 square feet triplex with non-structural layout (2 units) – all priced from RM1,100 per square foot (indicative). Every unit has a private lift lobby and entrance foyer with separate lobby for guests, Smart Home
System and Multilevel Security. The penthouses will have their own rooftop swimming pool, sky lounge and a garden. The project offers view of the KLCC’s Petronas Twin Towers and KL Tower, Royal Selangor Golf and Polo Club, the main range of Melawati Hills and Ampang Lake and Park.
“As a boutique developer, we are unfettered by the tight time and revenue constraints of larger, fast-paced, multi-project developers. As such, we can be more generous with our condominium features and offerings, and stay more focused, nimble and responsive to your needs,” Datuk PK Poh, CEO of Amphil The common facilities at Rimbun include an infinity lap pool with floating sundeck, residents lounge, wellness/treatment room, gym with yoga zone, playground, herb garden, laundry collection area, reception with concierge desk to name a few. This under-construction project with 24 green features was recently accorded the Green Mark (Gold Plus) certification by Singapore’s Building and Construction Authority. The condo is situated directly behind Great Eastern Mall and just minutes away from all the excitement in the KLCC vicinity with all the dining, shopping, entertainment and commercial outlets. Royal Selangor Golf & Polo Club, Raintree Club Gleneagles Medical Centre, HSC Medical Centre and several international schools such as Fairview International School and Sayfol International School can be reached within short driving distances as well.
Every unit has a lovely view of the pools and gardens. 52% of the total land area dedicated to landscaped gardens, recreational facilities and open spaces.
Extra-large, airy spaces provide flexible interior design options. On top of that, all living spaces are designed on a single floor – great for children and the elderly.
Rimbun is also connected to AKLEH, thus allowing direct access to MRR2 and DUKE highway, Smart highway and NKVE which in turn links to many other established neighborhoods. Public transportation via bus and taxi is easily available along the road. For a limited number of units only, the home is furnished with fully functional dry and wet kitchens - SieMatic dry kitchen cabinets, Kitchen Architecture wet kitchen cabinets and De Dietrich kitchen appliances - all award winning brands from Germany, Europe and France respectively. The show unit is ready for viewing. Please make your appointment with Ms. Linda Ooi (+6012-236 3065) or Ms. Christine Chua (+6012-314 2864). Alternatively, you may call our office no. at +60326938380 or email: rimbun@henrybutcher.com.my. HB HERALD. JUL/AUG 2013 15
focus: market update...
AN UPDATE OF PENANG’S PROPERTY MARKET Investor sentiment in the Penang’s property market remains cautiously optimistic while the general tendency for residential homes is still strong not only in the traditionally preferred locations but also for homes with high quality specifications, finishes, good security features and facilities. Nevertheless opportunities could arise both on the island as well as the mainland, with special reference to the land banks around the intersection of the North-South Highway and the Second Penang Bridge. of Penang soon in the 3rd quarter of this year. The bridge will provide a better linkage between the Bayan Lepas Free and Non-Free Industrial Zones (via Batu Maung) and the Batu Kawan new township and industrial park on the mainland (District of Seberang Perai Selatan). Penang Transport Master Plan Under the “Recommended Penang Transport Master Plan Strategy, 2013”, there are five new proposed highways, namely, George Town Outer Bypass, The North Coast Pair Road, The Air Itam – Relau Pair Road, The North-South Expressway Link Road, and Third Sea Crossing. Economic brief Penang is home to 1.645 million people (2012) who are attracted to its beachfront, city heritage, and hillside residential living, despite being the second smallest state in Malaysia after Perlis. Penang State encompasses an island and mainland (Seberang Perai), with a total land area of 293 square kilometres and 738 square kilometres respectively. As the country’s top three most developed and industrialised State, Penang is a thriving tourist destination and manufacturing hub. Penang experienced almost a full employment situation, mostly in the manufacturing sector (about 32% as in Q12012), whole sales and retail trades. The latest unemployment figure is yet to be out at the point of writing, but on average, the unemployment rate of the State was less than 3%. Development highlights Second Penang Bridge A new enabler – the RM4.3 billion 24km-length Second Penang Bridge, will appear in the landscape 16 HB HERALD. JUL/AUG 2013
Five New Proposed Highways under Penang Transport Master Plan Strategy 2013
Penang property market Penang’s property market performance softened in the first quarter of 2013 (Table 1). A total of 5,756 properties were transacted during Q1 2013, a significant drop of 18% compared to the figure recorded at 7,007 transactions for the same period last year. Despite the drop, the residential sector still retained its dominant share of 75% from the total number of properties transacted. The number of commercial lots transacted, fell sharply in Q12013 compared to the same period last year.
Materials Dealers Association. Some of the notable developers with plans for new residential and commercial schemes on the island in 2013 include IJM Land (RM5.4 billion GDV), Mah Sing Group Berhad (RM248 million), Sunway Berhad (RM120 million), Ideal Property Development Sdn Bhd (RM2 billion), SP Setia (RM945 million), Eastern & Oriental Berhad (RM500 million) and Ivory Properties Group Berhad (RM520 million).
Nevertheless, despite the drop in the number of transactions, the total transacted value of residential properties increased by 3.5% in Q12013 due to the relatively strong demand from home purchasers as well as property investors coupled with the limited supply of residential stock in the market. Some of the current developments in Penang include the followings: • Penang Times Square Phase 3, 4 and 5 by Ivory Properties Group Berhad (IPGB) are likely to kick off by end of 2013. • The Light Waterfront Project by IJM is expected to commence in 2014. • Tower B of Setia V Residences and Setia Sky Vista by SP Setia Berhad to be launched between September and November 2013. • Gurney Paragon by Hunza Properties Berhad was recently opened on 23 July 2013. • Seri Tanjung Pinang Phase 2 (STP2) by Eastern & Oriental Berhad (E&O) to be launched in the next two to three years. • Southbay, The Loft and Ferringhi Residences by Mah Sing Group The thriving construction and renovation industry in Penang is expected to create RM6 billion worth of jobs over the next 8 years, according to the Penang Master Builders’ and Building
Purpose built office In Q1 2013, the total supply of purpose built office space in Penang (island and mainland) was fairly stable at 1.068 million square metres with a take-up of 0.863 million square metres or occupancy rate of 80.9%. Of the total supply of purpose built office space, 76% were located on the island with a takeup of 0.651 million square metres or occupancy rate of 80%. (Chart 1). The incoming supply of purpose built office in Penang (all located on the mainland) is estimated to be 0.027 square metres. As at Q1 2013, about 0.148 million square metres of planned supply (on the island) was submitted for approval, mainly in the Bayan Baru, Sungai Nibong and Gelugor areas. The market prices and rentals of prime office space on the island were generally healthy and stable, ranging from RM180 to RM500 per square foot and from RM1.50 to RM3.00 per square foot respectively, depending on the location, grade of building, size and facilities provided.
Table 1: Performance of Penang property market, Q12013 Source: Valuation and Property Services Department, Penang.
Type of properties
No. of transaction
Value of transaction (RM mil)
Q12012
Q12013
% Change
Q12012
Q12013
% Change
Residential
4981
4200 (56%)
-15.7
1494.98
1546.62 (75%)
+3.5
Commercial
776
465 (14%)
-40.1
402.36
307.54 (9%)
-23.5
Industrial
153
119 (6%)
-22.2
198.83
132.46 (2%)
-33.4
Agriculture
530
451 (6%)
-14.9
139.11
136.63 (7%)
-1.8
Development Land
563
518 (18%)
-8.0
396.52
574.16 (7%)
+44.8
HB HERALD. JUL/AUG 2013 17
Retail sector In Q1 2013, the total existing supply of shopping complex or retail space in Penang (island and mainland) was 1.422 million square metres while the overall occupancy rate stands at 69%. Penang Island accounted for about 63% of the total retail space with an average occupancy rate of 75% (Chart 2). The recently opened Gurney Paragon, a new shopping mall with a net lettable area of about 0.7 million square feet is projected to generate a gross development value of at least RM6 billion. Besides George Town, the South-West District, particularly in the Bayan Baru/Sungai Nibong/ Bayan Lepas area is another potential growth area within the retail sector with its growing population of more than 140,000 people, 300 over factories that are employing an estimated 50,000 over engineers and specialists with high spending power (Bayan Lepas industrial area) and the on-going Subterranean Penang International Convention and Exhibition Center (sPICE) that is expected to attract domestic and foreign visitors and participants for meetings/incentives/conventions/ exhibitions (MICE). Hotel sector As of February 2013 (Source: Property Stock Report, Q12013, NAPIC), there were a total of 150 hotels with 14,649 rooms in Penang, accounting for about 5.7% of the total hotels and 7.8% of the total rooms in Malaysia. Of the hotels in Penang, 21% or 8,921 rooms are rated 3, 4 and 5-Stars. In Q1 2013, the hotels in Penang registered an average occupancy rate of 56.9% which is higher than the national average of 51.6%. Most of the smaller budget and boutique hotels can be found in the historical city of George Town. Tourists have to be prepared to pay between RM350 and RM500 per room per night for boutique hotels. Some of the notable and upcoming hotels include the RM100 million Novotel by Ideal Group in Bayan Lepas, Rice Miller Hotel & Residence, Mansion One Hotel, Jazz Hotel, Royal Bintang Hotel, G Hotel (extension), St Giles Hotel and Cititel Express. Residential sector As at Q1 2013, the existing supply of landed and stratified residential properties in Penang (island and mainland) was 132,070 units and 234,195 units respectively (Chart 3). Of the landed properties, 75% were located in Seberang Perai, with nearly half of them located in the District of Seberang 18 HB HERALD. JUL/AUG 2013
Chart 1: Demand and supply of purpose built office in Penang (island), Q12013. Source: HBMPR/JPPH
Chart 2: Cummulative supply of retail space in Penang (island), Q12013. Source: HBMPR/JPPH.
Chart 3: Existing supply of residential units in Penang State, as at Q12013. Source: HBMPR/JPPH.
Perai Tengah. On the other hand, 70% of the stratified residential properties were built on the island, with more than fourth-fifths located in the North-East District. In terms of future supply, about 51% are stratified property whilst 49% will be landed property. Of the stratified residential property, 63% will be located on the island. On the flip side, nearly 90% of the future supply of landed residential property will be constructed on the mainland. Several new luxurious condominiums located at the prime areas such as Gurney Drive
and Pulau Tikus on Penang Island were transacted at approximately RM1,000 per square feet. Generally, the prices of condominiums at NorthEast District are in the range of RM400 to RM700 per square feet. Rental yields of landed residential properties, in general, fetch lower yield of 2% to 3%, whilst apartments and condominiums could fetch slightly higher yields, hovering around 4% to 5%. Rising building costs as well as purchasers’ demand for lifestyle concept and better quality building specifications have contributed to the higher selling prices of new residential projects for both landed properties and high-rise condominiums. However these have not deterred KL-based property developers from making their presence felt in Penang as they are confident with Penang’s real estate future. Nevertheless, land scarcity, particularly on the island, remains a key challenge. Pre-war properties Alongside Malacca, George Town, the historic capital of Penang, was formally inscribed as a UNESCO World Heritage Site in 2008 for its “unique architectural and cultural townscape without parallel anywhere in East and Southeast Asia”. George Town has been divided into core and buffer zones. The Core Zone covers an area of about 109 hectares bounded by the Straits of Malacca on the north-eastern cape of Penang Island, Love Lane to the north-west and Gat Lebuh Melayu and Jalan Dr. Lim Chwee Leong to the south-west corner. The Buffer Zone (150 hectares) which protects the Core Zone, is bounded by the stretch of sea around the harbour, Jalan Prangin to the south-west corner and Jalan Transfer to the north-west corner. There are a total of 4,665 pre-war buildings, with 50.2% and 49.8% of them located at the Core and Buffer zones respectively. It is observed that pre-war heritage properties are in hot demand with immense potential for capital appreciation. Rare and unique good listings are limited. The average price per square foot of prewar heritage properties in George Town started to soar after 1999 (Chart 4). The CAGR (1999-2012) of pre-war properties average prices per square foot was 13.4%. On average, the current market prices of pre-war properties at the George Town world heritage site are ranged between RM800 and RM1500 per square foot, depending on the location and condition of the said property.
Chart 4: Average price per square foot of Penang’s pre-war properties, 19802012. Source: HBMPR/JPPH.
Industrial sector The global economic uncertainties and internal political risks have posed substantial challenges to the investment climate during the first quarter of 2013. In Penang, while there were no significant new supply of industrial units, transacted industrial units in Q1 2013 contracted 22.2%. In terms of supply, more than 80% of the existing industrial units were located on the mainland, with more than two-thirds crowding in the Seberang Perai Tengah vicinity. In term of future/incoming supply, more than 75% of the new industrial units would be constructed on the island, with most of them located in the South West district. Market prices and rentals of ready built factories are expected to remain at current levels as a result of oversupply of and unoccupied factories in certain unpopular and non-strategic locations in Seberang Perai. The future demand for industrial sites and factories are projected to shift towards the mainland, particularly in the Bukit Minyak and Batu Kawan areas, due to the scarcity of land suitable for industrial development on the island and the new linkage to Seberang Perai via the Second Penang Bridge. HB This article is a summary of the full report, ‘Penang Real Estate Market: Research Report H1 2012’, published on 25 July 2013 by Henry Butcher Malaysia (Penang). The report is downloadable from their website, www.henrybutcherpenang.com.
HB HERALD. JUL/AUG 2013 19
Come early to enjoy the Special Packages* (for a limited period): • RM10,000 earnest deposit • Free air-conditioners • Free legal fees on SPA & disbursement • Free maintenance for 1st year • Free interest during construction period (DIBS) *Terms & conditions apply.
Visit our Sales Gallery today at: No. 3-2-2, Jalan Setia Prima R, U13/R, 40170 Setia Alam, Shah Alam, Selangor Or call us for a personalised presentation:
017-248 0990 / 017-248 0303
Exclusive Launch of Sanctuary, Melbourne 24th - 25th August 2013 Saturday & Sunday 10am--7pm 6pm 10am One World Hotel Kuala Lumpur
Call Jazmine +6017 877 7489 or visit www.henrybutchersanctuary.com HENRY BUTCHER MALAYSIA
International Asset Consultants
HB HERALD. JUL/AUG 2013 21
focus: market research...
A SNAPSHOT OF SELANGOR - THE MOST POPULOUS AND RICHEST STATE IN MALAYSIA The State of Selangor overtakes the Federal Capital of Kuala Lumpur in both population and wealth, supported by the developments of towns and townships within Greater Kuala Lumpur.
The State of Selangor is the most populous state in Malaysia and by GDP is also the richest state in Malaysia. Based on the IMF figures, the State of Selangor accounts for 24.05% of Malaysia’s GDP in 2009 with the second highest at only 15.84% being Kuala Lumpur (Table 1). The State of Selangor is not only the richest state it is also the most populous with a 2010 population of 5,345,454 (Table 2). Table 1: Malaysia GDP by states, 2010. Source: Department of Statistics, Malaysia
Table 2: Population in Malaysia by states, 2010. Source: Department of Statistics, Malaysia
Rank
22 HB HERALD. JUL/AUG 2013
State
Population 2010
1
Selangor
5,345,454
2
Johor
3,233,434
3
Sabah
3,120,040
4
Sarawak
2,420,009
5
Perak
2,258,428
6
Kedah
1,890,098
7
Kuala Lumpur
1,627,172
8
Penang
1,520,143
9
Kelantan
1,459,994
10
Pahang
1,443,365
11
Terengganu
1,015,776
12
Negeri Sembilan
997,071
13
Melaka
788,706
14
Perlis
227,025
15
Labuan
85,272
16
Putrajaya
67,964
Development hotspots in the State of Selangor There are many developments of larger towns and townships - on-going as well as new - to support the ever growing population in the State of Selangor. Most of these towns are congregated in the vicinity of Greater Kuala Lumpur, hovering in the District of Petaling, Hulu Langat, Klang, Gombak, Kuala Langat and Sepang. More often than not these towns have excellent road infrastructure and are well connected to all the various economic centres in the region via a variety of highways and expressways, and thus are conducive for economic growth. HB Source: Henry Butcher Malaysia
No. on Township Map
No. on Township Map
Acreage
1
M Residence
225
2
Emerald East & West
3
Regency Parc
38
4
Lakeclub Parkhome
75
5
Dolomite Templer
78
1,000
Acreage
1
T. Bayuemas
545
2
Canary Garden
446
3
Bandar Parklands
427
4
Bandar Rimbayu
1,879
5
Bandar Saujana Putra
6
Bandar Baru Bukit Raja 1, 2 & 3
2,497
7
Setia Alam & Setia Eco Park
2,500 & 791
8
Bukit Bandaraya
300
9
Denai Alam
920
10
TTDI Alam Impian
208
11
Alam Impian
3
5
2
835
9 7
8
2 6 11
3
1,235
No. on Township Map
4
1
1
4
10
8
5
5 Acreage
1
Putra Nilai
6,200
2
Enstek (Sepang)
5,116
3
Kota Seriemas (Sepang)
2,400
4
Bukit Mahkota
1,320
5
Bandar Seri Putra
898
6
Kota Warisan
600
7
Perdana College Heights
250
8
Alam Sari
432
9
Nilai Impian
10
Planters Haven
6 2
4
3 1 9
7
10
1,263 270
This report is submitted by the Research Division of Henry Butcher Malaysia.
HB HERALD. JUL/AUG 2013 23
musing...
HEI-HO, IT’S FUN TIME AT ‘HEN
“T
oday, I am proud to announce that Henry Butcher Asset Management is the property manager of nearly 40 projects in Klang Valley with a significant number of them being
high-end developments. It has been a very challenging but fruitful undertaking since we started off in 1985. We’d never be able to
establish ourselves as a mature and reputable company if not for our team of dedicated and loyal staff,” said General Manager of HB Asset Management Division Mr. Low Hon Keong
General Manager Mr. Low Hon Keong and his welcome speech.
24 HB HERALD. JUL/AUG 2013
Director Mr. Long Tian Chek and one of the lucky draw winners.
The Prefect Council in action!
NRY BUTCHER HIGH SCHOOL’! Henry Butcher Asset Management Division celebrated their 4th Annual Dinner with the theme ‘Back to School’ at Impiana KLCC Hotel, Kuala Lumpur on 8th June 2013. The night pulled off with a retro feel where fellow employees dressed up in their school uniforms, or some attire that looked like school uniforms. The annual dinner kicked start with an opening dance presented by the Prefect Council a.k.a the Organising Committee, dancing to the tune of the latest Korean hit ‘Gentlemen’. From carrying out ‘Disciplinary Action’ against ‘late comers’, having guests blind-folded and playing the ‘Fear Factor’ game, guessing for the Mystery Guest, Lucky Draw, and awards for ‘Best Dressed’, there was never a dull moment throughout the evening!
A highlight of the day, HB Got Talent, saw four group finalists entertaining the guests with some drama, singing and dancing efforts. Besides having the highest vote count, team Southgate was clearly everyone’s favourite with their amusing crossover dance performance! The evening was concluded with the presentations of Long Service Award and Perfect Attendance Award as well as the honouring of employees who have been working with the company for more than five years, before ending with a high-strung dance performance by break-dance troop Giller Battle. HB
The writer Ms. Callie Poh handles PR matters at HB Asset Management.
Impiana KLCC Hotel, Kuala Lumpur banquet hall.
HB HERALD. JUL/AUG 2013 25
AUGUST 2010
83%
sold.
48%
sold above high estimates.
JUNE 2011
94%
sold.
39%
sold above high estimates.
M AY 2 0 1 2
100%
sold.
74 %
sold above high estimates.
OCTOBER 2012
94%
sold.
57%
sold above high estimates.
APRIL 2013
99%
sold.
72%
sold above high estimates.
NOV 2013
M A L AY S I A N & S O U T H E A S T A S I A N A R T A U C T I O N We are now inviting consignments for our second main sale of the year. Should you wish to receive a confidential appraisal, please contact: C H R I S TAY
+6016 298 0852
|
chris@hbart.com.my
GENERAL
+603 2691 3089
|
info@hbart.com.my
J O I N O U R J O U R N E Y. SHARE OUR SUCCESS. C O N S I G N T O D AY. 26 HB HERALD. JUL/AUG 2013
Exhibition Launch Friday 6 - Sunday 8 September 10am - 7pm
Mandarin Oriental Hotel, Kuala Lumpur Level 2, Summit Room
An opportunity to invest in a new Iconic London landmark Iconic Tower located in the centre of Croydon close to all amenities • Centrally located development of superbly specified suites, 1, 2 and 3 bedroom apartments and penthouses
• Access to private roof gardens for breathtaking panoramic views of the Croydon skyline and on towards London
• Central landscaped courtyard including stunning water features and sculptures • 8676 sq ft of commercial space surrounding beautifully landscaped courtyard which includes a residents gym, Tesco Express, 24 hour concierge, lettings agent and coffee shop • Residents lounge, art gallery and residents only gym located in the Tower with further retail space totalling 17,304 sq ft
• Westfield Shopping Centre due to open 2017 located within minutes from the development • Excellent transport links into London Bridge (13 minutes), Canary Wharf (29 minutes) and Gatwick Airport (14 minutes) • 999 year lease
London Living from £138,500 www.saffronsquare.co.uk For further information please contact:
HENRY BUTCHER MALAYSIA
International Asset Consultants
Pantone 288U Jazmine 017 877 7489 C100 M67 Y0 K23 jazgsh@henrybutcher.com.my
Proud to be a member of the Berkeley Group of companies
Our vision for your future
HB HERALD. JUL/AUG 2013 27
Whilst every care has been taken in preparing these particulars, Henry Butcher and the respective landlords/vendors give no warranty, express or implied, as to the completeness or accuracy of the information contained herein. These particulars are subject to errors, omissions, change of price/rental or other conditions, withdrawal without notice, and any special listing conditions imposed by our principals. Henry Butcher will not be liable for negligence, or for any direct or indirect consequential losses or damages arising from the use of this information. You should satisfy yourself about the completeness or accuracy of any information or materials. The information contained herein does not form part of an offer or contract. Computer Generated Image depicts Saffron Square and is indicative only.
AUGUST/SEPTEMBER EVENTS 24
-25 August SANCTUARY, a luxury Yarra riverside apartment located at Abbotsford, Melbourne is only 3.5km from CBD and next to blue chip suburb of Hawthorn, Kew and Richmond. Nearby tram stop and public transport to CBD. Adjacent to Victoria Street restaurants, Hoyts cinema complex, Victoria Gardens shopping mall and IKEA. Enjoy resident lifestyle facilities including a 25m lap pool, cinema, gymnasium, sauna, massage room, root top sundeck lounge and outdoor lounges. The exhibition will take place at One World Hotel, Bandar Utama, from 10am to 7pm daily. Contact Jazmine: +6017-877 7489, jazgsh@henrybutcher.com.my.
6
-8 September SAFFRON TOWER, a new iconic London landmark in central Croydon that is only 10 minutes walk to East Croydon rail station and 5 minutes walk to West Croydon overground station. Or take the high speed train to London Bridge (13 minutes) and Canary Wharf (29 minutes). Croydon high street with the many retail outlets and restaurants including Zara, M & S, House of Fraser, Debenhams, and PretA-Manger is only 3 minutes walk away. The new Westfield Shopping Center which is due to open in 2017 is located within minutes from the development. There are large commercial spaces and beautifully landscaped courtyards within the development including a resident gym, art gallery, Tesco Express, 24 hour concierge, letting office and coffee shop. The exhibition will take place at Mandarin Oriental Hotel Kuala Lumpur, from 10am to 7pm daily. Contact Jazmine: +6017-877 7489, jazgsh@henrybutcher.com.my.
28 HB HERALD. JUL/AUG 2013
10
-21 September THE MODERNIST - KUALA LUMPUR FULL VIEWING: Malaysia’s first single-owner sale titled The Modernist will reveal 45 masterpieces of Malaysian arts since the 1970s. Collectors and art lovers alike will have the opportunity to view the entire collection exhibited in Kuala Lumpur before they go under the hammer. The exhibition will take place at Black Box, MAP@Publika, Level G2-01, Block A5, Dutamas, 1 Jalan Dutamas 1, 50480 Kuala Lumpur, from 11am to 7pm daily. Opening on 11 September at 7pm. More information is available at www.hbart.com.my.
6
-8 September THE MODERNIST - SINGAPORE PREVIEW: Henry Butcher Art Auctioneers presents Malaysia’s first single-owner sale titled The Modernist which debuts on 22 September 2013 at Sime Darby Convention Centre, Kuala Lumpur. One of the most important collections of Malaysian art consisting of some of the greatest modern and contemporary Malaysian artists, The Modernist unveils 45 masterpieces to the public for the very first time in over four decades. Selected highlight pieces will be shown in a traveling exhibition, stopping at the art hub of Southeast Asia – Singapore! The exhibition will take place at Helutrans Artspace, 39 Keppel Road #01-05, Tanjung Pagar Distripark, Singapore, from 11am to 7pm daily. Opening on 5 September at 7pm. For more information, visit www. hbart.com.my.
22
September THE MODERNIST AUCTION DAY: Henry Butcher Art Auctioneers presents Malaysia’s first single-owner sale titled The Modernist this September 2013 at Sime Darby Convention Centre, Kuala Lumpur at 1pm. For more details about preregistration (for bidders), please contact Christ Tay at +6016-2980852 or email: chris@hbart.com.my.
HENRY BUTCHER MALAYSIA
For enquiries, please contact our Headquarters:
PENINSULAR MALAYSIA
HENRY BUTCHER MALAYSIA Sdn Bhd (160636-P) 25, Jalan Yap Ah Shak, 50300 Kuala Lumpur, Malaysia T : +603-2694 2212 F: +603-2694 5543 E: admin@henrybutcher.com.my www.henrybutcher.com.my
Klang Valley Ampang T • +603-4270 2072 / 73 F • +603-4270 2082 E • hbampang@henrybutcher.com.my
Eastern Region Kota Bharu T • +609 747 4001 F • +609 747 5003 E • hbmkel@yahoo.com
Valuation Mr. Long Tian Chek, hbmalaysia@henrybutcher.com.my Mr. Gary Liew, hbmalaysia@henrybutcher.com.my
Damansara T • +603-7118 3800 F • +603-7727 4077 E • hbdi@henrybutcher.com.my
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HB HERALD. JUL/AUG 2013 29