Homefinder Malaysia October 2013 by Homefinder Malaysia

Own it, Live it

OCTOBER 2013 | Klang Valley | Available at bookstands at RM4.80 | www.homefinder.com.my

Cheaper By The Dozen Affordability of houses has been a hot topic for Malaysians over the past few years. With more and more rulings being imposed by the government, are we on our way to solve the issue?

Wholesome Family Lifestyle Bandar Seri Putra’s latest apartment development with superb facilities.

KL’s New Business Address Berjaya aims to recreate landmark with Menara Bangkok Bank @ Berjaya Central Park.

Siva Shanker Newly appointed MIEA President shares his plans for the estate agent profession.

Nature’s Resonance at Pajam Seri Pajam’s Nada Alam residential enclave brings a natural touch to living.

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personality contents

Cover Story

16 Cheaper by the Dozen

The term affordability is used loosely to refer to house prices that are out of the general publicâ&#x20AC;&#x2122;s reach. But what is it that actually makes this an issue? Homefinder tries to get to the root of it.

Lifestyle

Caged and Chained: No Life for a Dog

Did you know that there are laws to make sure pets are not abused?

Talking About Sex and Puberty

Parents must know that the best place for a child to learn about sexuality is at home from those who care most.

Vian_Homefinder_A4_Pressad_FAOL.ai 175.00 lpi 15.00째 75.00째 0.00째 45.00째 Process CyanProcess CyanProcess MagentaProcess MagentaProcess Yellow YellowProcess Process Black

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contents

Property 26

Seputeh

Developing With A Difference

6 Steps To Building Passive Income

Adjacent to the Mid Valley vicinity, see what this neighborhood has to offer.

Andaman is a relatively young developer, but it has grown tremendously thanks to a unique strategy.

Building a passive income is not that complicated after all.

Siva Shanker

Yin Yang

What Jobs are Hot

Newly elected MIEA President shares his plans for the future of the estate agent profession.

Furniture that brings the balance of energy to your home.

Kelly Services Malaysia announces its annual Employment Outlook and Salary Guide 2013/14.

Bringing The Outdoors In

Paramount Corporation’s latest creation, Sejati Residences fuses modernity and nature.

Wholesome Family Living

Kuala Lumpur’s New Business Address

Putra Satu located at Bandar Seri Putra is an apartment with a touch of condo-like luxury.

A new iconic landmark is about to take over KL’s skyline – Menara Bangkok Bank @ Berjaya Central Park.

Special insert The Relaxing Resonance of Nature Step into a world of peace and tranquility amidst nature at Nada Alam, Seri Pajam Development’s latest residential enclave

Hunting For The Ideal Property

Budget 2014: Surgery or just Painkillers?

Here are some pointers before you eagerly head out in search for your ideal property.

Thoughts on the upcoming Budget announcement. Will it tackle the affordability issue head on?

Regulars 6

Contributors

Lifestyle Happenings

44 Property Buzz 47 Events

MENARA BANGKOK BANK

Medan Tuanku Station

Inter-Continental Hotel

Masjid Jamek Station

Pasar Seni Station Raja Chulan Station

JALAN RAJA CHUL

Tun Sambanthan Station

LEGEN Maharajalela Station

KL SENTRAL

Imbi Station

Kuala Lumpur International Airport (KLIA)

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personality Own it, Live it

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CONTRIBUTORS

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Cheaper By The Dozen been a hot of houses has Affordability past few ysians over the s topic for Mala and more ruling nt, are years. With more by the governme being imposed to solve the issue? we on our way PP 14487/01/2013

e Whol esom tyle Family liFes latest Bandar Seri Putra’sment with apartment developBangi. in superb facilities

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BusiN ess Kl’s NeW addr ess to recreate Berjaya aims k Menara Bangko landmark with Central Park. Bank @ Berjaya

siva shaNK er ed MIEA Newly appoint his plans for President shares profession. the estate agent

resoN aNce Natur e’s at Pajam Nada Alam Seri Pajam’s brings a residential enclave to living. natural touch

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happenings

The Art of Zen at the Curve Home Fair For those who love the concept of peace, serenity and calmness of mind, the Zen way of designing is an apt choice. Its focus is on transforming a home into a haven free of stress, reflecting only tranquility, clarity and simplicity. Those keen to explore new ways and ideas to turn their homes into a Zen sanctuary can visit the Curve Home Fair 2013 happening from 4 to 15 October 2013, at the Curve’s Centre Court. Jazmi Kamarudin, Centre Manager of the Curve, said, “We at the Curve understand the importance of being able to relax in a carefree manner at one’s home, more so with today’s hectic way of life. Through the Curve Home Fair, we hope our shoppers will be able to get some inspiration and transform their homes with a touch of Zen serenity.” The Curve Home Fair has something for everyone, with participating tenants Astana Carpet, Tong Yang, Cellini, Coreo Hida Takayama, Floor Depot and Bonzour showcasing the latest furnishing trends at the Centre Court. As an added treat, official bank partner OCBC is rewarding shoppers who spend a minimum of RM200 in a maximum of two receipts (OCBC Credit card members only need to spend RM150) the opportunity to redeem a diffuser. All redemptions are subject to terms and conditions

and are redeemable at the Curve’s Concierge Counter located at the Ground Floor while stocks last. www.thecurve.com.my

Schneider Electric Introduces Smart City Concept at Launch of Xperience Efficiency 2013 in Kuala Lumpur

(L-R)Kristo Kenmart, Head of Industry Business Schneider Electric; Peter Cave, Malaysia Country President of Schneider Electric; and Jaya Singam Rajoo, Under Secretary of Sustainable Energy Division, Ministry of Energy, Green Technology and Water (KeTTHA) launching Schneider Electric’s Xperience Efficiency 2013.

Schneider Electric, the global specialist in energy management, showcased solutions of energy and sustainability challenges during the launch of Xperience Efficiency 2013 at the Sunway Pyramid Convention Centre in Kuala Lumpur on 24 September 2013. The two day event brought together business, government and community leaders that round up to approximately 900 participants to engage, learn and drive change in today’s energy and sustainability

challenges. Xperience Efficiency, the first global event series addressing efficiency issues, featured 12 breakout sessions with the latest energy related topics, and interactive displays on the latest integrated energy trends and alternative ways that will not only address the current energy challenges we face, but also transform the way we all work, learn, and play. “Xperience Efficiency is a unique experience for everyone to see the future of energy management and green technology, all in one place. This event engaged key players, organisations and the Malaysian government in highlighting our nation’s energy dilemma and shared solutions to reduce energy cost and improve energy efficiency altogether,” said Peter Cave, Malaysia Country President of Schneider Electric. In supporting Malaysia’s socio-economic growth trajectory towards becoming a high income nation by 2020, Schneider Electric and Xperience Efficiency introduced Smart City as an alternative and long-term solution to energy problems, in particular the continuous fuel price hike and a recent plan of government to increase electricity tariffs. Xperience Efficiency 2013 kicked-off in June in Washington, D.C. with events in France, United States, China, Colombia, Brazil, Russia and now East Asia including Malaysia, to collaborate and share knowledge with customers, partners, industry thought leaders and governments on how to solve today’s energy and sustainability challenges. www.schneider electric.com

Experience The Starbucks Excellence In Espresso This Autumn With The Specially Handcrafted Ristretto Bianco Espresso Beverage Embark on a coffee journey with a rich, smooth and velvety beverage to add a luxurious touch to your latte This autumn, Starbucks Malaysia launches the exquisitely handcrafted Ristretto Bianco espresso beverage. New to the Starbucks espresso beverage line-up, Starbucks® Ristretto Bianco is the purest expression of luxurious, handcrafted perfection. Starbucks® Ristretto Bianco is a rich, pleasantly smooth and velvety espresso beverage in a fuller bodied shot with a deep, coffee-rich flavor. “At Starbucks, excellence in espresso is core to what we do. All of Starbucks® signature beverages around the world are made

with Starbucks® Espresso Roast. We are continuously challenging ourselves to give customers an experience that is premium and reflects our passion for coffee. We believe that with the specially handcrafted Ristretto Bianco espresso beverage, we will take our customers on a coffee journey that will add an exquisite and a luxurious touch to their favourite latte.” said Sydney Quays, Managing Director of Berjaya Starbucks Coffee Company. “Our passion for ensuring that every customer gets their perfect drink makes us obsessed with the quality of our coffee. The Ristretto Bianco espresso beverage reflects our passion as well as our constant endeavor to give our customers a superior coffee experience. We are excited to add

the Ristretto Bianco to our line of espresso beverages and we believe that our customers will enjoy this specially handcrafted espresso beverage.” he added. Each handcrafted Ristretto Bianco features the deep, coffee-rich flavor of two Ristretto shots of Starbucks® signature high quality espresso roast and creamy whole milk, steamed to microfoam and free poured to a dot finish. Ristretto shots use the same grind and amount of coffee as a regular espresso shot, but less water is forced through the grounds producing a full-bodied, balanced, and pleasantly smooth shot. The milk has a velvety texture that makes this beverage perfect for customers who are looking to add a lavish touch to their latte ritual.

happenings

On The Move Against Arthritis Guocera Innovates True To Life Tiles There was no prize money to be won, or fancy trophy or medal to bring home. Yet nothing motivated Kordel’s Charity Walk 2013 participants apart from their big hearts and innate wills as they walked in unison, on a mission to raise awareness and funds for the Arthritis Foundation Malaysia (AFM). From as early as six in the morning at Padang Merbok, approximately 1,100 health enthusiasts and members of the charitable public from all walks of life began to gather for the fifth edition of the popular charity walk. For some, it was their first walk and for others, the Kordel’s Charity Walk is a familiar event which they look forward to each year. More encouragingly, for the first time ever, a group of arthritis patients, with hopes to make a difference for their fellow patients, also joined in. “Kordel’s emphasis is on delivering

quality nutritional products while simultaneously advocating an active lifestyle. What better way to realize our commitment than by creating an opportunity for family and friends to have some fun by enjoying the health benefits of exercise and contributing to a worthy cause through the Kordel’s Charity Walk!” said Ho Swee Lin, General Manager for Cambert (M) Sdn Bhd at the event flag-off. This year, RM33,000 was donated to the Arthritis Foundation, fully obtained from participants’ entry fees and the sales of Kordel’s charity packs. The money will go towards supporting the AFM in its continuous efforts to improve the living quality of people with arthritis, particularly in helping underprivileged arthritis patients undergo joint replacement surgery. www.kordels.com.my.

Health enthusiasts walk to raise awareness and funds for the AFM.

(L-R) S.L. Ho, General Manager of Cambert (M) Sdn Bhd presents a mock check of RM33,000 to Dr. Amir Azlan Zain, President of AFM.

Tile manufacturer Guocera, recently introduced Guocera Digital, featuring digital print technology that produces oneof-a-kind designed tiles that can make rooms and spaces “come to life”. Launched at the newly presented Guocera Gallery in Petaling Jaya, Guocera Digital offers natural and luxurious looking tiles that are suitable for floors, walls, murals or as a feature centerpiece. The tiles are designed to bring out true-to-life effects of natural stone, sand, wood as well as antique and modern finishes. Incorporating the brand’s 50-year heritage of high-quality craftsmanship, the collection aims to bring imagination to life in vivid color, while improving lives by offering durability, ease of use and time saving solutions. “Guocera has always been at the forefront of tile innovation and design. With the advent of digital print gaining popularity, Guocera has leveraged on the technology to offer true-to-life natural, antique and modern tile options,” said Nathan Kandapper, Managing Director of Guocera Holdings Sdn Bhd. Guocera Digital comprises of Glazed Porcelain and Glazed Ceramic options. Both collections will be available from November 2013 from all authorized Guocera dealers and at the Guocera Gallery in Wisma Kemajuan Petaling Jaya and Johor Bahru. www.guocera.com

lifestyle

Caged and Chained: No Life for a Dog Text and Photo: SPCA Selangor

The Law Did you know that The Animal Ordinance 1953, Part IV, Prevention of Cruelty to Animals protects animals in Malaysia from cruelty and neglect? This law dictates that anyone who own, look after or care for an animal has a legal duty to care for that animal. It also protects the animal from cruelty inflicted by an individual related or unrelated to the animal. Even if an animal (such as a dog) is a stray, it is protected by the law and anyone deliberately injuring it could go to prison. The Worrying Issue A big chunk of cruelty cases that the SPCA Selangor Inspectorate Team attended to were unfortunately regarding dogs being kept on chains or in cages – on short chain and small cages. The team responded to more than 117 cases this year and the figure was a staggering 148 cases last year. The SPCA team found out that most of the cases were due to negligence and poor education on how to care for the welfare of the dogs. A “Locked Down” Dog is NEVER a happy dog Let’s be honest. No one would be happy sitting in a confined space or tied down, be it dogs or humans. It is a miserable state when ones’ freedom to move or to think freely is limited. Dogs are highly sociable animals and enjoy the company of other dogs and people to feel secure. Isolating them for a long period would put them in a state of confusion, for something they do not see a reason for, and would instill fear and anger in them.

Having a dog “locked down” for 8, 10 or even 12 hours a day is cruel and is almost an abuse, physically and mentally. A cage should be used for a short period for sensible reasons such as transportation, temporary holding area, or “timeout” session. A leash or chain should also be used temporarily for walking the dog or holding the dog briefly.

SPCA Selangor is against the usage of cages and/ or chains as permanent means of keeping pets, particularly dogs. Dogs shut in cages and/or chained upon a very short chain are less able to protect your property and cannot express enough normal behavior. The Department of Veterinarian Services has produced a minimum acceptable guideline for cages. No animals should be kept in any cages where it cannot stand upright without the head or ears touching the top of the cage. It also must be able to lie out on its side with its legs stretched out in front. In addition, it is common for chained up animals to become tangled in the chain and suffer from neck injuries. Species

Minimum Floor Area (Sq. ft)

Minimum Width (Sq.ft)

Minimum Height (Sq.ft)

Maximum No. of Animals

Less than 3kg

7 sq ft

1’7”

Over 3kg

7 sq ft

1’7”

Less than 1’4”

16 sq ft

1’4” to 2’4”

25 sq ft

Over 2’4”

36 sq ft

Puppies (8-16 weeks)

Adult Dogs (Height)

Minimum recommended cage sizes for dogs supplied by the Department of Veterinarian Services

Creating a healthy environment for you and your dog Some dog owners rather “lock down” their dogs because they do not have time to manage if their dog runs loose and creates a ruckus. They dread that their beloved dog would abruptly attack their guests, bark profusely at anything the dog lays its eyes upon or even destroying the garden. The list of nightmares is endless. However, how many of us actually stop to wonder why these dogs behave in such destructive manners? Caging or chaining a dog does not solve anything, nor is it a long term solution just because of our own fear. As part and parcel of having a dog, it is also the responsibility of the owner to train his/her dog. Every dog has its own unique character and one should not forget that it is important to spend time to understand and learn their dog’s behavior. Training is essential and it is a way that dogs distinguish what is right and wrong. It is fun to teach your dog different tricks while at it and your dog

would appreciate your time well spent with them. Use a reward stimulus like their favorite treat or snack to encourage good behaviors and training commands. Remember to socialize with your dog and they will learn to get along happily with you. Involve your family in your dog’s daily routine and your dog will be familiar with them. If you need any help with training your dog, you can always approach an animal expert, dog trainer, or even getting yourself a dog training manual. Look after your dog, and they will look after you Dogs that are locked in cages or chained up are less able to protect you, your family and deter thieves. Keeping them in cages will deprive him/her to fulfill part of their basic needs; to exercise, to relieve itself, to stretch in an open environment and to relax. Locking up a dog up all day reduces both the quality and quantity of its life. They will more likely to become sick and injured as they do not receive enough exercise and will be exhausted mentally. A stressed dog is a potentially aggressive dog. Remember, your pet is part of your family! Be a responsible pet owner and make sure you do your research and homework before taking in a furry friend. Keeping animals is a choice, not a requirement. Treat them with TLC and they will be the best companions you can ever ask for.

lifestyle

Talking About Sex and Puberty

or decades, movies and sitcoms have presented a caricature of the sweatypalmed, birds-and-bees conversation in which Dad stammers through a convoluted description of sex to a preadolescent child — who, it turns out, knows all of the details already. The humor arises from the tension most parents feel about discussing sex with their kids. (“What if we tell him too much?” “Will this rob him of his innocence?” “What if he starts asking about what we do?”) What isn’t so funny is the reality that too many children learn about sex from everyone but their parents. Playground slang and obscenity, a distorted description of intercourse from the tough kid up the street, or worst of all, a look at some pornographic material on cable TV or the Internet often provides a child’s first jarring glimpse of sex. What should be seen as the most beautiful, meaningful and private communication between a married couple becomes a freak-show curiosity. “Mom and

Dad did that? More than once?!” Efforts by public schools to correct misinformation from the street and lack of information from home often leave out a critical ingredient: the moral framework within which the facts about reproduction should be presented. Without an ethical context, sex education becomes little more than basic training in anatomy, physiology, infectious diseases and contraception. The best place for a child to learn about sexuality is at home from those who care most about him. Anyone can teach the basic facts about reproduction in an hour or two (or they can be read in any of several reference books), but you are in the best position to put this information in the proper context and give it the right perspective over a period of years. There are no cut-and-dried formulas for carrying out this assignment, but keep the following principles in mind: Giving a child facts about reproduction,

including details about intercourse, does not rob him of innocence. Innocence is a function of attitude, not information. A school-age child who understands the specifics of sex, while seeing it as an act that, in the proper context, both expresses love and begins new life, retains his innocence. But a child who knows very little about sex can already have a corrupt mind-set if he has been exposed to it in a degrading, mocking or abusive context. If you feel squeamish or inhibited about broaching this subject with your child, reflect for a moment about your own attitudes. Do you harbor any feelings that sexual activity, even within the context of marriage, is somehow base? If you realize that this is an issue for you, some conversations with a counselor may be in order. Hopefully these discussions will alleviate any uneasiness you might harbor regarding sexuality. Books that are reliable, informative and honoring to sex, marriage can also be very helpful. But for

many people uneasiness about sex may be rooted in life experiences, especially if they involve sexual abuse experienced during childhood, adolescence or even adulthood. It is never too late to address such issues with an individual who has training and experience in this area and can help you work toward healing. Don’t wait to tell your child everything you know about sex during a single, intense marathon session. Doing so risks either waiting until it’s too late or dumping more in the child’s lap than he can process. Instead, information should be released gradually during many conversations over a period of several years. (The same principle applies to any other area of life — faith, values, responsibilities, relationships, handling money and so on — in which you intend to offer guidance to your child. These subjects are too important to be confined to a single conversation.)

In many instances, you will be giving information on a need-to-know basis. Your five-year-old is probably going to want to know how the baby inside Aunt Susie is going to get out. But your child may not think to ask how the baby got there, and you don’t need to broach the subject at that time. On the other hand, if you haven’t yet had any discussions about reproduction with your tenyear-old, you will need to take the initiative to start some conversations. She has already heard all sorts of things on the playground and needs to hear from more reputable and mature sources. What if your child asks you questions you can’t answer? Be honest, and then do some research. You gain far more stature in your child’s eyes by showing candor than by bluffing. You may not have a detailed knowledge of the intricacies of the menstrual cycle or the developmental stages of puberty, but you’re never too old to learn.

Adapted from the “Complete Guide to Baby & Child Care”, a Focus on the Family book published by Tyndale House Publishers, Inc. Copyright © 1999, Focus on the Family. All rights reserved. International copyright secured. Used by permission. This article was published with permission from Focus on the Family Malaysia. For more information, please contact:

FOCUS ON THE FAMILY MALAYSIA 6-2 Jalan Bersatu 13/4, 46200 Petaling Jaya +603-7954 7920 focus@family.org.my www.family.org.my Facebook [focusonthefamilymalaysia] Twitter [familiesMY] Focus on the Family’s 90-second audio program is aired over TRAXX FM at 8.15 a.m. Monday to Friday

coverstory

Cheaper by the Dozen The issue of affordability and what lies beneath.

ong gone were the days of the financial crisis of 97/98, but fast forward a decade plus later and here we are, grown out of a slouch and is now an ambitious country with the potential to realize its dreams of becoming a high-income nation by 2020. Rosy glasses off, are we simply running faster to complete a vicious cycle? We are now hit with a national epidemic, “affordability”. Affordability is the purchasing power of the public. Affordability is the power of a person to own a home and finance it without taking the longest term. Affordability is to increase wages. Affordability is to lower prices. Affordability is low-cost everything. Affordability is quality. Affordability is a red flag to an economic disaster. Which is true? But more importantly, which relates to you?

Text : Lawrence Julius

Why is it a word loosely thrown around and a sizzling hot topic in recent times? Let’s see if we can shed light on some of these questions and get an idea of why this is happening and what we (and others) can do about it. Making It Right In Property In the industry of brick, mortar and mortgages, affordability could be defined as homes below the price of RM400,000. “Naturally this depends upon location since household income varies with locality. What may be affordable in Petaling Jaya may be regarded as quite expensive in Kota Bahru. Nevertheless, the bracket would generally be RM150,000 to RM400,000,” says Christopher Boyd, Executive Chairman of CBRE Malaysia.

The government under its PR1MA scheme – designed to provide affordable housing – has set the cap for these homes at RM400,000. But that may not be the threshold everyone subscribes to. While there are plans to lower the cap to around RM300,000 with more government subsidies there are questions being asked to whether this a sustainable method to overcome the problem of affordability. Affordability is an issue that was supposed to be tackled “15 to 20 years ago,” according to Datuk NK Tong, National Treasurer of REHDA. He opines that it would take another 10 years to tackle it at the root, which is to “flood the market with properties.” Datuk Ricque Liew, Vice President of the Real Estate and Housing Developers’ Association (REHDA) said during a press conference that regulations and compliance costs contributes significantly to the price, saying, “Costs and other fees imposed on developers takes up 15% to 25% of the overall construction cost of a project.” Datuk Ng Sieng Liong, Immediate Past President of REHDA adds that affordability relates to lifestyle, skirting around the fact that the more facilities or conveniences you want, in a good location, the more you will have to fork out. Sashikala Devi Gopallan, Senior Marketing Manager at Kelly Services Malaysia, says, “I cannot stress enough that the most important factor for a buyer (which simultaneously increases both the tangible and non tangible value of a property) is location, location, location,” “Malaysians however, are also very brand conscious. A recent study based on a survey of purchasers in Klang Valley on the brand awareness and the brand personality traits of property developers shows that Malaysian property purchasers are brand conscious in relation to the property developers and they ranked developers based on the brand personality,” adds Sashi While typically the fall goes to the rising prices of construction materials, an interesting fact is prices are still dictated in the end by the developer. “Some developers do not even conduct a thorough evaluation of their properties before they sell,” says Sashi. “The price is, most often than not, dependant on the brand value,” she added. The better known and reputable a developer is the higher they can mark prices up

and “speculate” as investors queue up. In order to cool down speculation in the property market, plenty of new legislations were passed. Borrowers are now only allowed a maximum 35 years on their loan tenure as opposed of 45 years previously. In hopes of deterring speculators, the Real Property Gains Tax (RPGT) was amended to 15% for selling off your property within the first three years and 10% subsequently. Heading straight to the root, the loan-to-value ratio (LTV) was also changed to 90% for first two homes and 70% for your third property. Top this all off with the announcement that banks will be evaluating a potential borrower’s eligibility based on net income, instead of gross income. Even if these steps could not bring down the price of property, it could at least save you from drowning in debt. Datuk NK Tong however, believes that the RPGT does not contribute much in terms of creating affordability in the market, saying, “we should flood the market (with properties),” pointing out that it is a classic matter of demand and supply. Supply more and you will cool demand, which means cheaper prices. So where is the problem when it comes to affordable properties? Christopher says, “Quite simply, in some locations there are insufficient houses available at a cost that people can manage. Generally speaking, there is now no shortage of low cost homes (up to RM42,000 or so) except in Kuala Lumpur. But ‘low cost’ carries a bit of a stigma and the aspiring middle class want something better. It in this mid range that the shortages lie.” “The only real sustainable solution is to continue to encourage the private sector in the housing industry by streamlining approval processes and adopting a light touch over constraints such as Real Property Gains Tax and Stamp Duty. Impose requirements to produce a percentage of low-cost as well as affordable homes in each development, and ensure that there are no controls or deterrents to foreign ownership except in reserved sectors such as subsidized low cost and affordable houses.” We’re In Debt Trouble So if prices are so high this day and age, why do we keep spending? Malaysians are on a spree, using money they (or we) do not have. Household

coverstory

Calculating Debtto-Income ratio (Monthly loan repayments ÷ Gross monthly income) x 100%

debt in the country has been on the rise and is now at 83% of our GDP – it was at 70% in 2009. According to Bank Negara Malaysia (BNM), household debt grew at an average annual rate of 12% over the last five years and the extended financing tenures like 45 years for home financing and 25 years for personal financing had only served to attract more people to accumulate long term debts. We are risking ourselves as well as the economy at the rate we are going. By March 2013, the debt-to-household-income ratio was at 140%, meaning households are owing 1.4 times their income. There is also a worry as the debt-toGDP ratio increases, with no telling at which point the economy would bend and break because of this. Even worrying is the fact that those earning below RM3,000 a month is the segment that is in a higher leverage position compared to other income groups, according to BNM’s 2011 and 2012 Financial Stability and Payment Systems Reports. It also states that this group’s leverage position is at 4.4 to 9.6 times their annual income. Data extracted from the Department of Statistics Household Income Survey 2012 shows that 80% of Malaysians are earning below RM6,954 per month, while The Edge reported that 80% of the population earns below the country’s average income of RM5,000 a month. The new generation of the nation’s workforce, those aged 35 and below, falls into the bracket of

those earning RM3,000 and below. How will they be able to afford a home? Let’s do a quick calculation: If I were to earn RM3,000 a month, I would need to commit to a monthly repayment sum of RM2,003 to service a 30-year loan for a RM400,000 home at a 90% loan amount and 4.4% interest rate. That’s 67% of my gross income, in a commitment to one loan. Azman Hasim, General Manager of Corporate Services at Agensi Kaunseling dan Pengurusan Kredit (AKPK) recommends a debt-to-income ratio level of 40% to be on the safe side. “This serves as a benchmark to Malaysians to ensure responsible borrowing,” Azman added. Increase the Wages If RM5,000 is still not enough to get you a home, what more those who earn less. Your monthly budget can be stretched thin when you are piled with home loans, car loans, credit card bills and other expenses. It is also common sense to factor in cost of living when discussing salary. The city pays more, but it takes even more. Even if you earn less than RM5,000 a month, it might not be able to cover the high cost of living. Is it a case of affordability or living standards? To raise the standards of life, there must be an increase of wages and increase of worker UnmannedIntelligence guardhouse. productivity. In 2012, the Economic Unit (EIU)’s ranking of the world’s most expensive cities saw Kuala Lumpur rise 12 places to take

Full interview with Azman Hasim, debunking the debt issue. “Debt Trap”

the 74th place out of 140 cities in terms of living costs. “Salaries, however, have not grown in tandem with this rise in cost of living. The disparity between earning power and living cost is a factor heightening difficulties in attracting and retaining foreign talent alongside homegrown Malaysian talent,” says Sashi. In lieu, Malaysia implemented its first ever minimum wage standards in the private sector at the start of the year at RM900 per month in peninsular Malaysia and RM800 per month in Sabah, Sarawak and Labuan. Melissa Norman, Managing Director of Kelly Services Malaysia applauds this move by the government, saying, “This regulation will not only potentially assist to address wage inequality and encourage greater workforce participation rate, but also serves as a way of pressuring industries to restructure and move up the value chain.” But what about those earning above the minimum wage, how does this help them? Sashi comments, “The minimum wage certainly encourages employers to hire Malaysians (as opposed to foreign labor) in view of the fact that employing foreign labor

Affordability relates to lifestyle. The more facilities or conveniences you want, the more you will have to pay.

has additional costs of agency fee and annual levy,” although she does acknowledge that there needs to be a revamp and rebranding of certain sectors like construction to encourage participation from local talents. Good news is, according to Azman, AKPK has not noticed an alarming trend in terms of the number of people who have sought their assistance in recent months. Azman says, “Not all debts give rise to an issue. The main concern is when a debt becomes unmanageable.” “With the measures put in place by BNM, the household debt level in Malaysia has not reached an alarming state… non performing loans make up less than 2% of total household debt.” According to AKPK’s statistics compiled from their database, the main reason people face financial issues is because they lacked financial education. The only sustainable way to overcome this issue is for individuals to gain a certain knowledge regarding personal money management. Acknowledging that you are indeed in the dept hole and burrowing further in is a good place to start. Here are some good tips by AKPK: • Make prudent financial management a way of life – this is the first step to ensure one does. not take financial assistance above his monthly repayment capability. • Live within your means. • Take financial assistance only for productive purposes. • Know how to distinguish between needs and wants – this will help you in managing your disposable income better and will hinder you from taking on unnecessary financial commitments. So what is it about affordability that has made us so inexplicitly vocal? My humble thoughts say it is because of the frustrations of not being able to earn something that feels warranted, and the fear of not having a roof over our heads. Some may think it is greed and materialism that drives this, but sometimes a justification of earning a home after tireless work throughout the years (no matter on which level of society you are at) would be a welcome thought to anyone. We would all be happy if Malaysia truly becomes a highincome nation and quality of life increases, for all – not just for the upper echelons of society.

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Siva Shanker The Next Level. Interview by: Emilio Vergara

ewly-elected President of the Malaysian Institute of Estate Agents (MIEA) Siva Shanker is upbeat about carrying the torch and taking MIEA to the next level. A veteran with over 30 years of experience in the real estate industry, he knows that there is still much to be done for the estate agent fraternity. Homefinder speaks to Siva about his aim as MIEA President, his concerns for the profession, and his thoughts on the current real estate scene. As president of MIEA, what is your main focus for the institute? I’m not interested in reinventing the wheel or organizing megaprojects. I think MIEA has done extremely well the past two years under President Nixon Paul. My real objective is to keep it going. However, I do want to focus on membership, which is still lacking. We have more than 1,700 registered estate agents and about 20,000 negotiators. Yet, we only have 1,000

members in MIEA. There are so many of them out there who don’t see the need to become our member. I want to change that mindset by making MIEA a high profile institution, where it will gain more prominence in the eye of the estate agents. So instead of going out there and doing membership drives which we have been doing all this while, I want to create a system where they want to come and be a member. What are your plans to achieve this? The first thing I’ve started to do is to create a stronger public image for MIEA through interviews and visibility in the media. I think through this, more people will come to know of MIEA. The second thing I have tried to do is to leverage on the strength of MIEA and to become partners with other associations such as the Royal Institution of Surveyors Malaysia (RISM) and PEPS (Association of Valuers, Property Managers, Estate Agents and Property Consultants

in the Private Sector Malaysia). We are going to try and organize courses and seminars together where we will bring practitioners from the various sectors of the market into one place to learn more about each others’ role. In this way, we give members the opportunity to learn, at the same time network and possibly do business with the other sectors of the industry. How are your ongoing programs for estate agents doing? Any plans to expand them? For the past few years we have been running two major yearly projects. The first is the Malaysian Annual Real Estate Convention (MAREC) which is the largest real estate convention organized by real estate professionals. And since it is done by industry professionals, we are tackling real issues rather than just trying to sell something to participants. The second event is the National Real Estate Awards (NREA) which is in its fifth year. We have grown the number of awards from about 10 to 23 awards. Other than that, we have increased the frequency of our seminars for members to about twice a month. In the past, it only happens once a month or few times a year. To me education is the pillar of everything in your professional life. You may be rich or famous, but without continuing your constant learning, you will find yourself stagnating.

for now, but I have two years to think about it and make it happen just before my term comes to an end. What is your main concern for the estate agents profession and how do you aim to overcome it? One of our biggest problems is illegal agents. They give us a very bad name. The law clearly states that if you are not a registered estate agent or you are not working for someone with the license to practice, then you are breaking the law. Unfortunately enforcement in Malaysia is just not up to par and there is very little we can do. So now we are using a different approach by educating the public on the dangers of dealing with these illegal agents and why they should only deal with the legitimate ones. What do you think of the new lending guidelines implemented by Bank Negara? I think it’s a good thing. There has been such a big hype on property investment in recent years that people are investing blindly because they can borrow money so easily not to mention all the incentives given by developers. This ultimately fuels speculation and is dangerous. So I think all the responsible lending guidelines by Bank Negara are good at controlling and ensuring a healthy growth of the market, not just the latest one which caps the maximum loan period at 35 years, but also those introduced since 2010 and 2011.

Talking about education, how has your collaboration with Open University Malaysia (OUM) progressed? We’ve already completed our first batch of the Professional Diploma in Estate Agency in Kota Kinabalu, Kuching and Johor. Last year, OUM ran the course and we were the passive partner. What has happened now is that MIEA has taken over the course and OUM now plays the passive role where they are only in charge of validation and accreditation. We’re going to start the Penang, KL and Johor intake in October. We ultimately want to raise the professionalism of real estate agents in Malaysia. The inaugural MASPEX has kicked off successfully in KL, what are your plans for the future? The Malaysian Secondary Property Exhibition (MASPEX) that took place earlier this year was groundbreaking and was a phenomenal success. So moving on, we are already in the midst of organizing the second MASPEX in Penang in September 2013. And if Penang is successful, I am planning to replicate it in Johor Bahru and Kota Kinabalu. The grand idea I have for MASPEX is a nationwide event happening all on the same day in these major cities. And to make it even more impressive, I want to have all the VIPS launching it at the same time, all connected via Skype. Of course this is just a thought

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YIN YANG Free of all convention, YIN YANG has its origins in the harmony of forms. YIN YANG unites the dynamic opposites of ancient Chinese philosophy into a harmonious interplay of color and form. A work of art that unites two elements into a flowing form was the result of close cooperation between the designer and the development team. Designer: Nicolas Thomkins Source: www.dedon.de

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What Jobs are Hot Skilled Talents are in Demand.

Melissa Norman, Managing Director of Kelly Services Malaysia

s a developing country aiming towards being a high-income nation by 2020, Malaysia has a young, moderately well-educated workforce and low unemployment rate. However, according to Kelly Services (M) Sdn Bhd (Kelly Malaysia), the country is at a critical shortage of skilled talent in technical sectors in the country. This was revealed at the launch of Kelly Malaysia’s annual Employment Outlook and Salary Guide 2013/14 (Kelly Salary Guide) in Kuala Lumpur recently where the guide indicated an increase in the number of hot jobs for professional and technical skills, especially within the Information Technology (IT), Engineering, Banking and Finance; and Sales and Marketing sectors. According to Melissa Norman, Managing Director of Kelly Malaysia, “In addition to the Malaysian Government’s commitment to propel our economy towards a high income status by 2020 through the Economic Transformation Program (ETP), the current sluggish market conditions and global uncertainties continue to push the job market towards hiring skilled talent as companies focus on human capital development and talent retention.” In IT, the Kelly Salary Guide 2013/14 lists Systems Applications and Products (SAP) Consultants, Business Intelligence (BI) Consultants, Pre-Sales Engineers, and Java Developers to continue to be in demand while in Engineering, new talents in demand are Mechanical Engineers, Process

Engineers, Civil Engineers, and Health, Safety and Environment (HSE) Managers, amongst others. The Banking and Finance sector which is expected to have 274,000 available jobs by 2020 in line with the ETP, lists Finance Managers, Senior Accountants, Auditors, and Credit Control Managers as hot positions to fill in 2013/14. And as a growing number of Malaysian companies penetrate the global market and establishing themselves regionally, the Sales and Marketing talents too are being sought after for positions such as Business Development Managers, Marketing Managers, Public Relations Managers and Area Sales Managers, amongst others. According to the Kelly Salary Guide 2013/14, those with at least 4 to 6 years and more experience within these sectors will see an approximate 3% to 5% increase in their base income while an estimated 10% increase in basic salary can be expected for those whose relevant knowledge and skills exceed eight years. General employment in Malaysia continues to be positive as the ETP expects to create 3.3 million jobs by 2020 with the largest in Electronics and Electrical (157,000 jobs); Healthcare (89,000 jobs); and Oil, Gas and Energy sectors (52,300 jobs). As in 2012, Malaysia continues to be a key Islamic Banking and Financial hub of Asia, hence positively resulting in the need for specialised talent in this sector with a projected 274,000 jobs in the Financial Services sector by 2020. Compiled annually since 2005, the Kelly Salary Guide 2013/2014 aims to become a handy reference tool. It is an industry-focused guide that is indicative of actual transactions between employers and employees. The easy-to-read format outlines staffing opportunities, skills and specializations in demand and human resource strategies. You can get a copy from Kelly Malaysia’s website: www.kellyservices.com.my.

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The Relaxing Resonance of Nature Nada Alam @ Pajam, Negeri Sembilan

ause a moment from your busy daily routine and let us take you to a place that is reminiscence of a time where life was much simpler, a place where you can leave all your worries behind and truly come home to after a hard day’s work. Set in the Pajam district of the state of Negeri Sembilan, neighboring the blossoming town of Nilai, Nada Alam is an exclusive landed residential enclave that perfectly blends the comforts of modernity with the alluring touch of Mother Nature. Aptly named, Nada Alam (which means Nature’s Resonance) is nestled away among 13 acres of greenery where one would immediately feel one with nature, captivated by the sights, sounds, and smell of a healthy, relaxing and tranquil lifestyle. This “back-to-nature” ambience is further enhanced by the creation of five concept area parks by its developer, Seri Pajam Development Sdn Bhd. Estimated to be fully completed in 2019, Nada Alam will have five phases comprising of terrace houses, semidetached units and bungalows. Retreat into the sweet embrace of jungle canopies and lush dew-covered bushes as you stroll through the pathways at Nada Green, one of the five parks. Or if you require a total sensual experience, wander off to the Senses Park where the touch-somatosensory reflexology path, herb garden and bamboo walkway will stimulate your senses, leaving you refreshed.

Jungle walk

An aerial view of the 13acre Nada Alam set among soothing greenery.

For the perfect family-day-out setting, the Symphony Park provides a soothing and calming atmosphere. It also has a music park where you can create melodious sounds with readily available natural â&#x20AC;&#x153;instrumentsâ&#x20AC;?. For a more spacious surrounding, head over to the Tri-Park where its open spaces makes the perfect place for young ones to run around or even fly a kite while Nada Lawn is a great location for a football match. Water features are also no less impressive at Nada Alam. Share a hearty conversation on the viewing deck as you look across the crystal clear lake and stunning water plants at the Mini Wetland. The Yoga Gazebo also provides the ideal setting for meditative activities,

surrounded by calming sounds of lapping water and if you require a more active lifestyle, there is also a seven kilometer jogging track circling around the entire Nada Alam neighborhood â&#x20AC;&#x201C; a first in the Nilai/Pajam area. Brilliant landscaping infused into its existing natural environment, the developers has made it a point to retain as much of the original ecology by keeping the tree-chopping and landclearing to a minimum. All these green features are not restricted to the outdoors alone as the homes at Nada Alam are also fitted with features which incorporate nature and welcomes its beauty into each of these meticulously designed landed abodes.

Herbs garden

Find peace or ignite your senses at the Senses Park.

Living in harmony with the environment also means leading a green lifestyle. Built with high ceilings and glass panels at strategic parts of the house to let in natural lighting, residents will be able to save on electricity usage while the rainwater harvesting system will contribute to daily chores such as washing your car or watering the plants. The first phase â&#x20AC;&#x201C; also called Nada 1, will comprise of 198 units of double-story terraces. Interested buyers will have a choice between two different layouts. Units of Type A will have a land area of 22 ft by 70 ft with a gross built-up from 2,366 sq ft while the 20 ft by 70 ft Type B units have a 2,412 sq ft gross built-up area. Each home has four bedrooms and four bathrooms,

ideal for a typical family where every member will have their own privacy. A natural haven, residents of Nada Alam will find better peace and comfort knowing that they are in a safe and secured vicinity. Nada Alam employs a three-tier security system with CCTV at the entrance and selected locations around the gated-and-guarded community with round-the-clock security patrol. And in the case of an emergency within the house, there is also an ingeniously designed ladder on the first floor of some of the units where you can make a quick escape (selected products). Priced at RM440,500 onwards, it is a fair price for a spacious landed property where families with children or senior

Reflexology path

Nada Alam • Located in Pajam, Negeri Sembilan

• 13 acres, Freehold • Target launch – October 2013 • Estimated completion – 2019 • Type – Terrace house, Semi-detached, Bungalows • 5 phases • Nada 1 – First Phase - 2-story terrace house - 4 bedrooms, 4 bathrooms - Type A – 22’ x70’ – 2,336sf - Type B – 20’ x 70’ – 2412sf • Price from RM 440,500

Yoga gazebo

citizens can take advantage of the space. First time homeowners will also feel less of a pinch in their finances if they choose to buy or invest here, considering the quality home and lifestyle they are getting in return. Relatively obscure from public view, Nada Alam bestows a picturesque lifestyle unlike any other, far removed from the hustle and bustle of city life. However, if the need to head into the city arises, this hidden gem is actually located just off the Pajam/Nilai exit of the Kajang-Seremban Highway (LEKAS). All it takes is a 45-minute drive and you will find yourself in the Kuala Lumpur City Centre. You can also use the KL-Seremban Highway. It is also strategically situated close to other localities including Nilai town, the Kuala Lumpur International Airport (KLIA) which is about a 25-minute drive away, and the administrative capital, Putrajaya about 35 minutes away. And you would think being this far out of town you would need a car to get around, but for those who prefer public transportation, there is the Batang Benar Komuter Station located just a kilometer away. Or if you prefer a faster train, you can board the ERL at the Salak Tinggi Station located about 20 minutes away. Nevertheless, one need not actually travel far in search of amenities such as retail outlets and restaurants. For avid golfers, they can spend their days swinging clubs at the nearby Staffield Country Resort. And for an occasional thrill, a trip to watch the Malaysia F1 Grand Prix or Malaysia MotoGP Grand Prix at the Sepang International Circuit, located about half-

Mini woodball

an-hour away, should keep your need for speed in check. With a string of notable developments in Negeri Sembilan under its belt, Seri Pajam Development is set to extend its excellent track record with Nada Alam, its latest masterpiece. A member of the Nova Loyal Group of Companies, Seri Pajam Development will be supported by its sister company Nova Loyal Development Sdn Bhd which won the Malaysian Construction Industry Excellence Awards (MCIEA) 2010 for using the Industrialized Building System (IBS). Putting this expertise into practice, the homes at Nada Alam will be built using the IBS construction system where components are pre-manufactured in a controlled environment, before being transported to the construction site for assembly. A fairly new technique, IBS saves time and offers better quality control, making it more practical for the developer and ensuring a timely delivery. Built with a modern touch and inspired by nature’s beauty, Nada Alam is set to deliver a comfortable and tranquil lifestyle amidst lush greenery, one that you can easily immerse yourself in, leave out all worries and truly call it your home.

Facilities • 13 acres green area • 5 concept parks • 1 mini wetland • 7km jogging track • 3-tier security How to get there? • GPS coordinates N2.838600, E101.828688 • Located off the Pajam/Nilai exit of Kajang-Seremban Highway (LEKAS) • 45 minutes from KL City via LEKAS • 35 minutes from Putrajaya • 25 minutes from KLIA/LCCT • Public transport – Batang Benar Komuter station, Salak Tinggi ERL station Why buy here? • Strategically located between Seremban & Kuala Lumpur • Close to nature, providing a healthy, peaceful lifestyle • Superior facilities, great for outdoor activities • Well-designed homes to complement green lifestyle • 3-tier security provides peace of mind • Reputable developer with excellent track record

Developed by Seri Pajam Development Sdn Bhd. For more info, call +606-758 1988, email nadaalam@seripajam.com.my or visit www.nada-alam.com.my

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Bringing The Outdoors In Sejati Residences @ Cyberjaya Flagship Zone

here are little forms of escapism that can match, let alone beat, the sheer serenity of nature. Better still when nature is brought into your home. Where the indoors blend perfectly with the outdoors, come home to a green haven while keeping the essentials you need near. Tucked in the district of Dengkil, Sepang is a nature-inspired residential enclave called Sejati Residences, a project by Paramount Property (Cjaya) Sdn Bhd, a division under the renowned Paramount Corporation Bhd. Located just 20 minutes away from Kuala Lumpur, Sejati Residences is situated in the Cyberjaya Flagship Zone (CFZ) which is a self-contained intelligent city with exceptional facilities. “Sejati” meaning authentic, natural or original in Malay, perfectly describes the soul behind the new neighborhood. It is a place where one can come home and escape the frills of the city, yet still very much accessible to it. This enclave sprawls across 50 acres of greens, valleys and canopy trees, featuring 249 units of landed properties with condominium units also in the pipeline. The first phase of Sejati Residences will feature

Above Your home within a serene neighborhood. Below Green will be a key aspect to your home.

78 landed homes, consisting of bungalows with built-up from 5,739 sq ft to 5,890 sq ft, semi-detached homes with built-ups from 4,287 sq ft to 4,954 sq ft and superlink homes with built-up from 3,805 sq ft to 3,838 sq ft. Indicative prices for the bungalows, semidetached homes and superlinks will range from RM3 million, RM1.9 million and RM1.4 million respectively. This is where tranquility is found at home, within a gated-and-guarded community, surrounded by the echoes of nature. This serenity is accentuated with layouts that are functional and practical – yet designed to blur the lines of indoors and outdoors with the incorporation of double volume ceilings, large windows, wide doorways and supersized decks with sunroofs. And of course, a green environment calls for green technologies. You will find rainwater harvesting systems that will store water that can be used for the gardens around your home, while a high energy-saving hybrid DC hot water system, water-saving aerated tap and dual flush system can be found in the bathrooms. Sejati’s homes are equipped with a topquality security system designed by GDSS Security Consultants, a respected name in

Segi College as well. There will also be a myriad of commercial outlets in the area with ongoing developments like Pan’gaea, VITA Cyberjaya, D’Pulze, Tamarind Square and CBD 3 Perdana. Much of the facilities found here are top-notch additions to the neighbourhood, and create value and convenience for residents. With nature by your side and modern amenities and infrastructure around you, it is a holistic living environment few can boast about. Sometimes, all you need to escape from a hectic day at the office is to slow down, and come home.

security services. Technologies and systems in place include a multi-layered zonal system enhanced by fiber optic fences, 24-hour CCTV surveillance and motion detectors – all monitored from a state-of-the-art control center. With security and peace-of-mind, what better way to unwind and relax than strolling through the “Garden of 5 senses” – designed to stimulate touch, sight, sound, smell and taste. Simply take a step out of your door and into the gardens, like a natural second home. But if you wish for a change of pace, Sejati Residences’ three-story, 11,000 sq ft clubhouse welcomes you to its facilities. You might also be interested to know that the clubhouse’s roof trusses and columns are made from 200-year-old recycled Chengal wood – an initiative to use recycled materials by the developer. Here you can opt for a swim in the infinity pool, get in shape at the gym, yoga deck and sauna room, or simply have fun and make use of the games room, BBQ area and function hall. There is also an eight kilometer jogging track to take advantage of if you feel like going for a run outdoors. Being such in tune with nature, it is easy to forget that Sejati Residences is minutes away from Kuala Lumpur and located in a prime area. The amenities surrounding Sejati Residences include education institutions like SMK Cyberjaya, MMU, Kirby College, CUCMS, LimKokWing University and soon

Above Double-volume features blend the indoors and outdoors. Below Your cozy and modern home.

Sejati Residences @ Cyberjaya • 249 landed units, 40 acres • Condo units, 10 acres • Freehold Phase 1 • Bungalow (3 stories) - 24 units - 5,739sf to 5,890sf - From RM3 mil • Semi-D (3 stories) - 28 units - 4,287sf to 4,954sf - From 1.9 mil • Superlink (3 stories) - 26 units - 3,805sf to 3,838sf - From 1.4 mil Developed by Paramount Property (Cjaya) Sdn Bhd, for more info on the property call the sales office at +601 8605 6000, email info@sejatiresidences.my or visit www.sejatiresidences.my

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Wholesome Family Lifestyle Putra Satu @ Bandar Seri Putra, Bangi

s Kuala Lumpur extends its radius of development to suburban areas and townships located on the outskirts of the city, one location that is constantly on the lips of property investors and industry experts is the peaceful town of Bangi. Situated about a 30-minutesâ&#x20AC;&#x2122; drive south from the city, Bangi has recently experienced a rise in development activity in the residential and commercial sectors, and one development that has contributed to this growth is Bandar Seri Putra. A planned township sprawled across 898 acres of freehold land, Bandar Seri Putra holds a brilliant mix of residential, commercial and recreational facilities amidst a soothing green landscape. Home to about 19,000 residents, it offers a living experience for families unlike any other. The developer carries on that vision of making Bandar Seri Putra a lifestyle township with its latest addition, Putra Satu, a high-rise

development covering 8.9 acres which include a 3-acre courtyard with beautifully landscaped greenery and playgrounds. Categorized as an apartment, it however is a step beyond your typical idea of a Malaysian apartment. Complete with superb condominium-like facilities, it is the first of such development in the 16-year-old township. With a total of 505 units, these apartments come in seven different layouts with builtup areas ranging from 854 sq ft to 1,224 sq ft. These units also vary in terms of number of rooms. Depending on the needs of each family, a young couple may opt for a 2+1 bedroom and 2 bathroom layout while a larger sized family may choose the more spacious 3+1 and 3 bathroom unit. Nonetheless, whether spacious or cozy, all units will have an allocation of two car park lots. Conducive and comfortable living at its forefront; all units at Putra Satu are broadband and satellite TV ready, thus, eliminating the

Above Putra Satu apartments is the latest addition to Bandar Seri Putra.

hassle of messy and costly hacking and rewiring. On top of that, air-conditioner piping and refrigerant are also pre-installed into the units, allowing new owners to move in quickly without necessary renovations. Indeed, these well-equipped homes are a boon to the owners, but what really sets Putra Satu apart is the multitude of facilities that it has to offer. With a 3-acre landscaped garden courtyard at the heart of the development, residents will have plenty activities to occupy themselves with. Take a relaxing dip at the inviting swimming pool while the kids have their splashing fun at the wading pool, or just take an evening stroll through the garden and find bliss in natureâ&#x20AC;&#x2122;s calming effect.

If competitive sports are more to your liking, then play a game of badminton or basketball with your neighbors at the available courts. You can also choose to pump some iron at the wellequipped gymnasium after which a session in the sauna should rid of all those calories. Other facilities include playgrounds for the young ones, a nursery, BBQ pits, a wellness sanctuary, a multipurpose hall and a pleasant alfresco area fronting the swimming pool. The lush surroundings of the garden are not the only thing green at Putra Satu. Designed with a rainwater harvesting system, residents will be able to save water and at the same time contribute that little bit towards preserving the environment.

Top The development revolves around a threeacre garden courtyard with excellent facilities.

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Targeted to launch in October 2013, the units at Putra Satu are priced from RM350,000. The developer is footing the legal fees on the Sale and Purchase Agreement (SPA) and Deed of Mutual Covenant (DMC) and is partially subsidizing the legal fees on the loan documentation. Putra Satu is looking to satisfy the growing demand for properties in the Bangi area. Strategically located in Bandar Seri Putra, it is in close proximity to several education institutions including Universiti Putra Malaysia (UPM), Universiti Kebangsaan Malaysia (UKM), UNITEN and Kolej Universiti Islam Selangor (KUIS). Naturally, with these education facilities nearby, Bandar Seri Putra has been an ideal choice for lecturers as well as government servants and young professionals who work in Putrajaya and Cyberjaya. Fundamentally a family-oriented township, its residents are mostly made up of owner-occupiers. However, that has not stopped certain individuals who are looking for a long-term investment to

purchase a property here. After all, capital appreciation of existing properties here has shown a healthy rise. Take for example, a semi-D launched in 2004 was priced at RM368,000. A similar new unit today would sell for RM927,000. Being a self-contained township, Bandar Seri Putra bestows a convenient lifestyle with schools, clinics, and a bank all available within

Top Have a relaxing afternoon tea at the alfresco overlooking the swimming pool. Below With a multitude of facilities, residents will not run out of activities to do.

Putra Satu • Apartment with condominium facilities • 8.9 acres, freehold • Launch date – October 2013 • Estimated completion – October 2016 • 505 units, 7 floor layouts - Built-up – 854sf to 1,224sf - 2+1 bedroom, 2 bath to 3+1 bedroom, 3 bath - Price from RM350,000 • All units come with 2 car park lots • Broadband ready, satellite TV ready, built-in air-cond piping and refrigerant • Rainwater harvesting system

its borders. The community here is also wellserved by the township’s commercial hub, SP Retail Centre, which consists of restaurants and shops including Secret Recipe, Ayamas, Pizza Hut and convenience stores such as 7-11 and 99 Speedmart. Another attracting factor for Bandar Seri Putra is its accessibility. Located along the KLSeremban highway, getting into the township is easy via the dedicated Putra Mahkota Interchange. Apart from the closeness to KL City, it is also centrally located between the KL International Airport (KLIA), the nation’s administrative capital of Putrajaya and the MSC-status city of Cyberjaya. Other localities include Nilai and Bandar Baru Bangi. Developed by Bangi Heights Development Sdn Bhd, a subsidiary of renowned and veteran developer UM Land Berhad, Bandar Seri Putra offers not only an ideal living experience, but also products of excellent quality. Customers are assured of fine workmanship and good value when they purchase a home here. Putra Satu encompasses the virtues of its developer. A meticulously designed project with topnotch facilities and located within a blooming township, it is hard not to call this place home.

Facilities • 3 acres of garden courtyard, playgrounds • Swimming pool, wading pool • Gym, sauna, badminton court, basketball court • Wellness sanctuary, alfresco area, BBQ pit, nursery, multipurpose hall and minimart/laundrette How to get there? • Located in Bangi • GPS Coordinates – N 2° 53’ 6”, E 101° 47’ 31” • via KL-Seremban Highway, turn off at Putra Mahkota interchange - 37km from KL City, via KL-Seremban Highway - 35km from KLIA via ELITE Highway and exit into KL-Seremban Highway - From adjacent townships - 12km from Bandar Baru Bangi, 30km from Putrajaya, 5km from Nilai Top Meticulously designed units provide comfort. Above Spacious yet cozy, perfect for families.

Why buy here? • A well-planned development from a reputable developer Bangi Heights Development Sdn Bhd, a subsidiary of UM Land Bhd • Good quality of homes for good value • Good condominium facilities • Located in a steadily growing township with a strong community of 19,000, or 50,000 if including adjacent developments • Nearby to commercial centers and townships • Good accessibility, about 30 minutes to KL City and KLIA How to buy? For more information on Putra Satu apartments and Bandar Seri Putra, contact +603 8927 1611, email salesbh@umland.com.my or visit www.umland.com.my

property

Kuala Lumpur’s New Business Address Menara Bangkok Bank @ Berjaya Central Park

he city of Kuala Lumpur is no stranger to the everchanging progress towards modernity. Having stamped its mark as a global city, KL is constantly transforming its skyline with better developments to meet the demands of a growing urban population. One of the newer buildings is the soonto-be-completed Menara Bangkok Bank at Berjaya Central Park. Rising gloriously from the corner of Jalan Ampang and Jalan Sultan Ismail in KL’s Golden Triangle, Menara Bangkok Bank will be the latest structure to join the ranks of some of the metropolitan’s most iconic landmarks. Developed by Wangsa Tegap Sdn Bhd, a whollyowned subsidiary of Berjaya Corporation Bhd, the tower is part of the Berjaya Central Park development which consists of two 48-storey towers with a podium at its base. Menara Bangkok Bank, the first of the towers, is a Grade A corporate tower housing 171 units of corporate offices. Slotted to complete by mid-2014, the office tower will be anchored by two corporations, namely Bangkok Bank and Berjaya Sompo. The former, taking up a total of eight floors and 105,996 sq ft of commercial space, has been given the naming rights to the building.

Top A new iconic landmark in Kuala Lumpur Above Menara Bangkok Bank @ Berjaya Central Park rises 48 stories high

Of course, KL-ites would remember the name Bangkok Bank from decades ago. After all, the bank’s current headquarters located near KL’s Chinatown has been a significant landmark of the city for more than half a century. With the new and more modern Menara Bangkok Bank, Berjaya Corporation is set to create another landmark that is synonymous with the city of Kuala Lumpur. Though it may not be the only Grade A office block in the city center, Menara Bangkok Bank presents a unique investment opportunity where it is one of the only office buildings of such stature with suites that are up for sale. Most commercial towers in the city are only for rent. With this new proposition, the developer is putting forward to business owners the possibility of owning their own classy office space, located within the heart of KL’s CBD. Buying your own business premise makes perfect sense since at the end of the day, you pay less monthly. Take for example a typical grade A office suite in KL which is rented out at a rate of RM8 per sq ft. For a 1,744 sq ft suite, one would have to pay RM13,952 a month. Compare that to the monthly repayment for a similar sized unit at Menara Bangkok Bank which is bought for RM1,877,100 with a maximum loan of 80%, it will only cost the owner a loan installment of RM9,420 a month. And that is before

you consider the sure possibility of capital appreciation. While it seems like an attractive option to business owners, the fact is that investors too can benefit from this. With the ability to command a higher rental rate compared to a similarly priced condominium, investors would definitely be looking at a far higher rental yield despite the higher service charges. Poised to be an iconic office tower, Menara Bangkok Bank also boasts of flexibility with varying unit sizes and layouts. Interested buyers will be able to select individual corporate offices ranging from 775 sq ft to 4,263 sq ft, each with a private en-suite executive bathroom. With two sets of five lifts each servicing the tower, buyers will also be able to have their own lift lobbies when they choose to take up one half of the floor plate. Of course for bigger companies, they might opt for the entire floor plate of approximately 13,100 sq ft. Priced from RM1,000 per sq ft, it is designed to house various types of businesses, whether big or small. Being a Grade A office does come with certain expected standards, and Menara Bangkok Bank lives up to them with topnotch features. To sustain the masses of office workers, the lobbies are equipped with a turnstile security access that is linked to a state-of-the-art security system. On top of that, the whole building will be monitored 24-hours a day via CCTV surveillance. Other high-tech fittings include fiber optics throughout the structure for high speed internet access and high-efficiency lifts with the Floor Destination Control System (FDCS). Menara Bangkok Bank has also been awarded with the Singapore BCA Green Mark Gold Certification by incorporating eco-friendly features such as an intelligent air-conditioning system with a Variable Refrigerant Volume (VRV) system, a carbon dioxide level monitoring for all levels, and a building management system which cleverly monitors and optimizes power and utility usage. In fact, green elements contribute significantly to the design of the building. With a ceiling height of 2.9 meters, airflow within the building is alleviated allowing a cooler and healthier environment. Its exterior is also made

up of double-glazed low-emissivity glass while a rainwater harvesting system aids in reducing water usage. Still, the most glaring appeal factor for Menara Bangkok Bank has to be its location. Sited in the heart of KL City, at the corner of two of the city’s major roads, it is only a stone’s throw away from the famed Petronas Twin Towers. Being in a hotspot area also means it is exceptionally close to five-star residences, international hotels, major shopping malls, and everything you would expect a city to have, including the Bukit Nanas Forest Reserve, the green lung of KL City located directly opposite. As if that is not good enough, Menara Bangkok Bank is also connected to the Bukit Nanas Monorail station via a link-bridge. That’s as good as having public transportation at your doorstep. A new iconic business address, Menara Bangkok Bank is set to redefine standards. With excellent high-tech and green features, flexible office suites that will suit virtually any business, and a location that is second to none, it is truly Kuala Lumpur’s new rising star.

Menara Bangkok Bank @ Berjaya Central Park - 2.708 acres, Freehold - Located at corner of Jalan Ampang and Jalan Sultan Ismail, KL - Grade A office tower, 48 stories - 3 levels basement car park, 7 story + 1 mezzanine elevated car park - Estimated completion – Mid 2014 - 171 units of office suits - Built-up from 775sf to 4,263sf - Selling price from RM1,000 psf - Service charges RM1.20 psf (inclusive of sinking fund) Why buy here? - Centrally located in Kuala Lumpur city with direct link to Bukit Nanas Monorail station - Surrounded by established commercial hub - State-of-the-art security with turnstile security access and 24-hour CCTV surveillance - High efficiency lifts with floor destination control system - Fiber optics for high speed internet access - Flexible office suite layouts to suit any type of business - Private en-suite executive bathroom with shower for each suite - BCA Green Mark Gold certification – eco-friendly building management system, carbon dioxide level monitoring, Variable Refrigerant Volume (VRV) intelligent airconditioning, double-glazed low emissivity glass exterior, rainwater harvesting system Menara Bangkok Bank @ Berjaya Central Park is developed by Wangsa Tegap Sdn Bhd, a wholly owned subsidiary of Berjaya Corporation Bhd. For more information, call +603-2142 8028 / +6018-220 8131, visit www. berjayaproperties.com or drop by the Berjaya Property Gallery, 02-20, Level 2 West, Berjaya Times Square, Jalan Imbi, Kuala Lumpur.

Left top The lobby is equipped with a turnstile security access system. Left Private lift lobbies at each floor.

property

SEPUTEH

eputeh is located just adjacent to Mid Valley Mega Mall, one of the largest shopping malls in Malaysia. It mainly consists of residential developments with a small portion of the commercial element, whilst the north-eastern part mainly consists of religious and institutional parts like local and international schools, cemeteries, temples, as well as the old palace. One of the most renowned landmarks here in the township is the Thean Hou Temple, a four-level Chinese temple built on 1.67 acres of land completed in 1987. The temple offers marriage registration services and host festivals and events. Connecting Seputeh to other places in Klang Valley are the Old Klang Road, Federal Highway,

East-West Link Expressway, Jalan Syed Putra and Jalan Istana. These highways or major roads are usually congested especially during peak hours. KTM commuter services can be found in the township and KL Sentral station is located just two stations away, connecting to the entire rail system and services available. Sources revealed that the KL Monorail services extension towards Taman Gembira has been proposed and recently resurfaced with a further link down south towards Bandar Sunway. Upon realization of the extension and if this really happens, traveling from Seputeh to Kuala Lumpur city center or Bandar Sunway will become easier and more convenient.

Table below shows the recorded price trends from year 2010 to 2013 (July): Landed Scheme Taman Sierra Seputeh

Mutiara Seputeh

Bukit Seputeh

Desa Seputeh

Type

Land Area

2.5-story Semi Detached House

3,197 - 4,241 sf

3-story Semi Detached House

3-story Terraced House

3,197 - 4,219 sf

1,604 - 1,722 sf

3-story Terraced House

1,647 sf

Year

Min(RM)

Max(RM)

2010

2,130,000

2,650,000

2011

2,175,000

2,880,000

2012

2,500,000

2010

2,260,000

3,100,000

2011

2,750,000

2,850,000

2012

2,900,000

3,458,888

2010

710,000

885,000

2011

1,250,000

2012

1,350,000

1,510,000

2010

560,000

2011

680,000

1,060,000

2012

780,000

Year

Min(RM psf)

Max(RM psf)

Stratified Scheme Bukit Robson Condo

Kelab Le Chateau II

Le Chateau

Menara Seputih

Robson Condominium

Saville Residence

Type

Built-up Area

Condominium

1012 - 1798 sf

Condominium

969 - 1500 sf

794 - 1543 sf

398 - 1152 sf

1270 - 2788 sf

1237 - 1402 sf

2010

265

412

2011

313

443

2012

415

476

2013

467

2010

129

169

2011

146

201

2012

160

231

2013

169

217

2010

100

171

2011

141

184

2012

162

2013

195

2010

121

297

2011

130

297

2012

181

436

2013

209

375

2010

251

398

2011

234

407

2012

206

480

2013

399

480

2010

307

432

2011

382

520

2012

407

543

Source: Oregeon Property Consultancy Sdn Bhd Research Team

property

The recorded transaction prices of properties in Seputeh fluctuated up and down throughout the past few years, especially landed properties, which might possibly be due to various ranges of renovation done to these properties. On the other hand the stratified properties indicated a more Project Name 9 Seputeh

N/A

stable growth even though the growth rate was relatively lower comparing to other townships in the similar locality. The rate of new developments in the township is not very active compared to neighboring schemes, but amongst the noted are:

Developer

Location

Gapurna Land Sdn Bhd

off Jalan Klang Lama (Behind 3rd Mile Square)

Mixed development on 4 parcels of land Parcel A - 1 block of 41-story serviced apartment (230 units) Parcel B - 3 blocks of 33 to 38-story serviced apartment (734 units) Parcel C - 4 blocks of apartment (824 units) with 12 levels of SoHo units Parcel D - 34-story retail space/college

Type of Development

HPC Development Sdn Bhd

Persiaran Syed Putra 2

2 blocks of luxurious apartment (105 units) Block A - 92 units luxurious apartment Block B - 13 units of duplex and penthouse

Just like a number of other townships, the new projects/developments in Seputeh are tilted towards luxurious properties. Besides the projects in the list, newly completed projects in Seputeh like Vasana 25 and Seputeh Gardens are multi-million Ringgit bungalows that stand on a different platform. There are also developments like 9 Seputeh which are taking advantage of the future transportation system prospect, linking the development to the Monorail station, at the same time giving the project a great selling point. Apparently the developments in Seputeh are concentrated on the south-west portion as a large chunk of the north-east is occupied by cemeteries, hindering the prospects of new development. However the south-western portion is in a strategic location sited along Old Klang Road and immediately next to Mid Valley Megamall, creating a comfortable and convenient living area. Question: Can a great location be good enough to overcome the negative perception of the public towards burial grounds?

Disclaimer The analysis and the article written were based on information available and were then further modified and analyzed by Oregeon Property Consultancy Research Team. We bear no losses or legal liability caused by the information given.

Brews Perfectly.

Looks good doing it. Makes perfect espresso, coffee and tea.

Available at The Coffee Bean & Tea Leaf outlets & www.cbtl.com.my

property

Developing With A Difference Andaman sets the trend in emerging areas.

very now and then we come across a property developer with a unique story to tell. They may not be an industry giant, neither are they publicized as much, but their approach and strategies to property development are unique enough that they can stand their ground firmly against the competition. One of them is Andaman Property Management Sdn Bhd, a member of the Andaman Group. Having only been in the market for eight short years, this non-public-listed developer has indeed accomplished an outstanding feat by developing properties amounting to RM3 billion. That said, Andaman is in no mood to get comfy and rest on its laurels just yet. “Despite the time of uncertainty and rumors of increase in property taxes, we are adamant in continuing our yearly sales target of RM1 billion in 2014,” said Dato’ Sri Vincent Tiew, Managing Director of Andaman Property Management Sdn Bhd adding that the company’s success can be attributed to three beliefs.

Above The soon-to-launch EVO SoHo Suites will set trends in Bangi. Below Dato’ Sri Vincent Tiew, Managing Director of Andaman Property Management Sdn Bhd.

Sailing The Blue Ocean One of Andaman’s main development strategies that sets it apart from others is its “blue ocean development strategy”. It will not consider going in to a place which is already deemed a hotspot and overcrowded with developers. It will instead choose to build in places that show, with proven research, a strong potential to be the next property hotspot. “By doing that, we become the market leader, setting and benchmark for concept and pricing in that geographical area. In this way, we are also purchasing the land at a cheaper price and by the time the project is completed, the homebuyers would have gained a substantial capital appreciation,” adds Dato’ Sri Vincent. One good example was its venture into Cyberjaya about two-and-a-half years ago. Back then, there were less than six developers in Cyberjaya. Andaman successfully launched and sold out 1,000 units of its The Arc apartments at about RM400 per sq ft. “Today, developers there are launching properties above RM600 per sq ft,” he said, adding that it is now eyeing Bangi to be the next boomtown. He also said that Andaman is also living up to its purpose as a developer where they are actually “developing” new areas and not

merely adding to the supply. “We are building to meet the real demands in the area. If you are just building another condo or row of houses in an area which is already full of other projects, then you are just riding the wave. In other words, you might not be able to sell since everyone already has a unit there. Valuing Customers With this development strategy in place, Andaman is not only able to be a trendsetter but is also able to price its properties lower. Customers are not only purchasing at a relatively cheaper price, but also are now at an advantage since their properties have a higher potential to catch up with the prices of later launches in the vicinity. Apart from appreciation, one interesting point to know is that Andaman is also known as the Guaranteed Rental Return (GRR) King. In the past five years, it has developed eight GRR projects where it has been paying the rental for over 2,500 units. While there are also many other developers using the same scheme, Dato’ Sri Vincent points out that one has to be careful as most of these developers have factored in the future rental into the selling price, and thus, sell at a higher price. As for Andaman, it promises its buyers a fair price since it will only launch a GRR project after it has secured a deal with a university or college to lease the whole block. “We lease back the units from the buyer the very same day they purchase the property. So, the developer now becomes your tenant and as in any tenancy agreement, the landlord will be sure of three crucial things – How much the rental is, when do the

rental period commence, and how long the rental will be for,” asserts Dato’ Sri Vincent. More than just a financial edge, buyers of Andaman properties also occasionally receive free tickets to seminars and conferences on property investment, banking, interior design, feng shui, and so on. It is also a matter of educating its customers in making a smart investment. In fact, as the head of the company, Dato’ Sri Vincent himself tries to participate and impart his knowledge at such seminars from time to time. He also regularly contributes by writing in newspaper columns. Appreciating Employees With a staff size of about 150 people, Andaman has also branded itself as a pro-staff company with excellent perks for its employees. Picture this – 36-month bonuses, two yearly overseas trips to countries like England, Japan, China, and Australia, and not to mention discounts for employees wanting to buy a property from the company. “We value our staff extremely well. It drives them to meet sales and collection targets, cements teamwork, increases productivity and efficiency, and provides for a wonderful environment where everybody is eager to do their work,” shares Dato’ Sri Vincent. With an eye for creating good value properties, Andaman group has certainly grown exceptionally well since its inception. From humble beginnings, this mid-sized boutique developer now has slated a further seven projects to be launched in the second half of 2013 and is indeed force to be reckon with.

Andaman offered GRR scheme for its Diamond Residence @ Serdang

property

6 Steps to

Building Passive Income

or those suffering from a memory lapse, I’ll expand a few more pixels for your benefit. Passive Income is “Investing to generate another source of income.” What is “Investing”? It is “Using money you can afford to lose to grow your wealth for you”, the two essential components being: - Money You Can Afford To Lose This is the extra money after deducting your essentials. Taking your rent or food money to invest is unwise. Stupid in fact. When you can’t afford to lose that money, you will be desperate financially, resulting in a lack of holding power (next article). When you have no holding power, you will be at the risk of selling your shares at an unfavorable time.

Text: Lee Yip Chun

So if you really don’t have any extras, I suggest you follow some tips on Money Management first. - Grow Your Wealth Your investments shouldn’t just help you make money. It has to grow your wealth. It has to grow at a greater rate than inflation so that you are earning real returns. If it isn’t, you might be better off just spending the money for short term gratification. Today we’ll do a quick run through of the 6 steps to building your passive income so you don’t have to suffer the pandemonic nightmare the Chinese call “hands stop, mouth stop”. Ask your Chinese friends if you don’t know what this means.

Planning Your Capital Determine how much money you can set aside on a regular basis. Use these as financial resources to build up your Investment Capital. Plan, keep track, and discipline yourself to stay on track! Discipline is an important quality for investors and it will take you a long way when you invest. Step

Learn the Basics of Investing As Warren Buffett said, “You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.” Investing is simple. However, you still need to know the basics! This helps you have a better idea when it comes to making informed decisions. Learning how to read Financial Statements and Annual Reports will definitely help you a lot in your journey.

Determine Your Investment Vehicles Now that you know what your risk tolerance/ appetite is, it’s time to pick the investment vehicle(s) that best matches you. We have a detailed piece called Dissecting Investment Vehicles that will help you make your decision. In this case, we’ll use Securities (the stock market) here as our example. Step

Step

Know Your Risk Tolerance/Appetite How much risk are you willing to take when it involves money? Do you take bigger risks for bigger returns? Or do you take minimum risk for small but steady returns? Or are you somewhere in between? There’s no right or wrong here. Risk Tolerance/Appetite varies according to your age, income, goals, background etc. If you had to rate your Risk Tolerance/ Appetite from 1 to 10 (1 being minimum risk, 10 being gambler), what would it be?

Select and Monitor Your Counter This is the very important step where you decide which counter(s) you wish to invest in. Many investors struggle and encounter problems when choosing counters to invest in, and how to monitor the counters. This step involves perspective (your own), preferences, and behavior control (your emotions when investing). It is really subjective. Again, no right or wrong. Step

Step

Review Performance After every trade (buying and selling stock), we should study the outcome. Did it perform as expected? Was it prolonged or shortened? What caused the outcome? Any improvements to make? Any insights? This is to ensure that we learn as we go and improve our investment skills as we grow. Step

Looking Back Feeling stressed after reading all that? Yes, it doesn’t look simple, yet it actually is quite simple. Don’t worry, you will definitely grow and improve by sticking with Young Investors. Let’s all move towards having a strong passive income, so that one day, we might be able to sit together and tell each other, “I’m not working anymore. My money’s working for me.”

property

Hunting For The I

n our last issue, we have shared several pointers on how you can spot your ideal home as well as your ideal investment. Now that you know what aspects to look out for and how to match your preferences against the ideal factors, it is time to put that knowledge into action. In this third installment, we will walk you through the steps of finally making that ideal property yours. There are two ways to kick start your little project, engage an Estate Agent or go Solo like Rambo. But hang on, aren’t estate agents hired for the sole purpose of helping an owner sell or rent out their property. It seems to be a myth that only sellers should engage and pay for the estate agent. This is totally untrue. Buyers themselves too should appoint an estate agent so that they can search for the best property and defend their case when necessary. People usually perceive that agents will try to sell off the client’s (seller) property without any concerns for the buyer because his fee is paid by the seller. What many of them do not realize is that the agent’s fee is actually added on to the buyer’s bill. Given the circumstances, buyers too should have their own representation to safeguard their interest and not be compromised just because the agent was appointed by the seller. Not unfounded, this seems to be the norm in the West where both buyers and sellers have an agent each to represent their cause, much like a legal case. The negotiation is thus for the interest of each of their client and not a lopsided affair. Once you have found you ideal property, whether through an agent or by your own hard work, next on the list is Inspection. Typically, inspection would encompass a visit to the said property. But what if the property is under

construction? The focus in this case will be on the developer and the main consideration is the stability of the company. Your evaluation should include the developer’s past projects and financial standing. Most seasoned developers are equipped with this information because it is part of their proud unique selling proposition. Going through the evaluation process will give you the confidence that your property is unlikely to be abandoned. For those thinking of buying from the secondary market, the inspection is made easier as the property is physically available. It is highly recommended that the inspection be carried out with the people involved, especially if the property is represented by an estate agent. This will prevent any possible future misunderstanding. Ensure also that all information relevant to the property including past renovations and penalties from local authorities are provided by the seller or the estate agent. This can be used as a guide to inspect the property thoroughly. During inspection, be sure to check on the utilities such as water and electricity, you’ll never know what has stopped working. Also you might want to check if the property has any outstanding bills.

Ideal Property And finally, if youâ&#x20AC;&#x2122;re keen on the property, take the extra step to check the legal ownership or title of the property. Knowing the legal title will bury your doubts of securing the property successfully. Ultimately, the most important advice one could get is to not simply buy the first property shown to them. Take some time to look around and do some research. One possible method is to visit one of the many property expos and fairs that regularly takes place. So there you go, spotting the real estate may be a daunting task in the past but half the battle is won if you knew from the start what to expect and where to probe. Take heart, be patient and shop around. The ideal real estate made for you may just be around the corner. Good luck!

happenings

Ascott Secures Its First Citadines Apart’hotel in Hangzhou Citadines Intime City Hangzhou

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Citadines Apart’hotel in Hangzhou. Scheduled to open in late 2014, the 100-unit Citadines Intime City Hangzhou will be Ascott’s 11th Citadines Apart’hotel in China. The serviced residence will further reinforce Ascott’s leadership position as the largest international serviced residence owner-operator in China with about 9,300 apartment units in 52 properties across 20 cities. “Citadines Apart’hotel, which provides independent travelers with flexible services to suit their lifestyle needs, has been enjoying very healthy occupancy since we launched it in China in 2006. We see great potential in expanding our Citadines brand in China and have so far added three more Citadines Apart’hotels in Guangzhou, Nanjing and Hangzhou in 2013,” said Kevin Goh, Ascott’s Managing Director for North Asia. Citadines Intime City Hangzhou is strategically located in the core area of West Hangzhou, close to three major central business districts in Hangzhou. The serviced residence is part of the 400,000 square meter landmark Intime City, one of the largest mixed developments in Hangzhou which comprises five Grade A office towers and a shopping mall. www.the-ascott.com

REHDA Expects Total Value of Property Showcased At MAPEX to Exceed RM20bil The Real Estate and Housing Developers’ Association Malaysia (REHDA) expects the total value of property to be showcased at the upcoming Malaysia Property Expo (MAPEX) to exceed RM20billion. The three-day event to be held from 25 to 27 October 2013 at the Mid Valley Exhibition Centre (MVEC), Kuala Lumpur will be open to the public from 10am to 9pm daily and admission is free. Themed “Your Home, Your Investment”, this MAPEX has had overwhelming response from participants with all 242 booths taken up a month ahead of the event. Datuk Ng Seing Liong, Chairman of the MAPEX Organizing Committee said that a total of 90 developers have confirmed their registration. These include S P Setia, Naza TTDI Sdn Bhd, I&P Group, Bina Puri Properties, IOI Properties, IJM Land, PKNS, Tropicana Corporation, Glomac Berhad, Bandar Utama Development, MKH Berhad, Eco World Development and international exhibitor Salvo Property Group showcasing developments from Australia. Apart from showcasing property selections, MAPEX will also offer significant insight into making a sound property investment through talks by prominent personalities in the local real estate industry. Amongst those who have confirmed are Datuk Ng; Daniele Gambero CEO of REI Group; Ho Chin Soon, Director of Ho Chin Soon Research; and James KK Tan, Director of Suntrack Development Sdn Bhd. www.mapex.com.my

(L-R) Tan Ching Meng, Chairmanof REHDA Wilayah Persekutuan (KL) Branch, Datuk Ng Seing Liong, and Datuk NK Tong

Mah Sing Continues To Grow With Q2 Net Profit Up By 16.2% Mah Sing Group Berhad recently declared its second quarter (Q2) results ended 30 June 2013 with a net profit of approximately RM69.8million on the back of revenue of approximately RM475.7million. Both showed yearon-year increase of 16.2% and 4.5% respectively from the approximately RM60.1million net profit and the approximately RM455.2million revenue charted in Q2 2012. Year-to-date net profit was up by 16.1% at approximately RM139.3million, compared to the same period last year. Meanwhile, the net profit margin for the first half of the year under review was at 15% compared to the 13% done in the first half of the preceding year. Operating

profit margins for the property segment also showed improvement from 20.1% to 22.2% year-to-date attributable to product mix and higher profit recognition on properties delivered to customers. Mah Sing achieved approximately RM1.5billion sales for the first half of 2013, and is on track to achieving its 2013’s full year sales target of RM3billion. Meanwhile, the Group’s unbilled sales of approximately RM3.9billion as at 30 June 2013, which is approximately 2.5 times the revenue recognized from the property development division in 2012, provides strong earning’s visibility going forward. www.mahsing.com.my

Melbourne Named World’s Most Liveable City for Third Year Running Melbourne, Australia has once again been named the best city in the world to live, according to the latest Economist Intelligence Unit’s (EIU) Global Liveability Survey. This is the third consecutive year that the Victorian capital has been at the top of the influential index, since taking the title from Vancouver after a run of almost a decade. Before this, Melbourne had consistently been in the top three positions of the 140 cities listed. The EIU’s Liveability Ranking Survey, part of the Worldwide Cost of Living Survey, assesses living conditions in 140 cities around the world by assigning a rating across five broad categories of stability, healthcare, culture and environment, education and infrastructure.

Tim Dillon, Victorian Commissioner to South East Asia

Victorian Commissioner to South East Asia, Tim Dillon welcomed the highly sought after ranking and said: “We enjoy a quality of life that is exemplary across the globe. Our vibrant cultural, sporting and entertainment mix is matched by first class healthcare and education. And our business environment is one of the most stable and productive in the world.” Melbourne scores highly in all of the EIU’s criteria and achieves perfect scores in the areas of healthcare, education and infrastructure. Ongoing investment in Melbourne’s world-class infrastructure was highlighted in the report for keeping Melbourne at the top of the index. www.invest.vic.gov.au

The bright lights of Melbourne, Australia

happenings

IJM Land Makes Maiden Venture Into London IJM Land Berhad (IJM Land) has broken new ground as an international property developer with the launch of its first ever London property project – Royal Mint Gardens located on Royal Mint Street in Central London, UK – on 27 September 2013 in Kuala Lumpur. Physical works on the project is expected to commence in early 2014 with completion targeted in the fourth quarter of 2017 with an estimated Gross Development Value of £200 million. IJM Land’s Royal Mint Gardens is the first phase of a 2.7-acre mixed development project located within a few minutes’ walk to London’s iconic landmarks of the Tower Bridge and the Tower of London and adjacent to one

of the world’s leading financial districts, the City of London. It will consist of 254 units of residential apartments with built-up sizes ranging from 387 sq ft to 1,431 sq ft. The apartments will comprise studios, one-bedroom, two-bedroom and three-bedroom apartments over three apartment blocks, namely, Rosemary (15 stories), Lavender (14 stories) and Sage (13 stories). The development also has plans for a retail piazza, residents’ leisure and wellness amenities, landscaped gardens and courtyards and community spaces IJM Land stated that the selling price for Royal Mint Gardens units starts from £465,000 upwards. www.ijmland.com

REHDA Property Industry Survey Indicates Increase in Project Launches The results of the REHDA Property Industry Survey 1H 2013 which were revealed at the recent REHDA Media Briefing indicated that generally the property market continues to remain healthy, mainly driven by the domestic market. Based on a sample size of 150 member companies from all 12 states across Peninsular Malaysia, the survey findings revealed an increase in the number of launches in 1H 2013 along with the number of respondents reporting improvement

in sales performance as compared to the previous corresponding period. Launches were active especially in Selangor, Melaka, Kedah and Johor. Feedback from the respondents reported that 95% of their buyers are locals buying for the first time, mainly for own occupation. Future launches are also anticipated to be on the upward trend with strata properties expected to dominate in the second half of 2013 in Selangor, KL and Johor. www.rehda.com

Land & General’s Pre-tax Profit Jumps 67.4%

Low Gay Teck, Managing Director of Land & General Berhad.

Land & General Berhad posed a 67.4% jump in pre-tax profit to RM72.8million for the year ended 32 March 2013, from RM43.5million in the year before, with the property division being the single largest contributor. This stron performance comes on the back of a 65.4% rise in revenue to RM216.3million, against RM130.8million the previous year. The strong rise in the group’s revenue and pretax profit arose from the successful completion of 8trium, coupled with the sales and development of The Elements@Ampang and Damansara Foresta Phase 1. L&G unbilled GDV and development pipeline projects as to date are in excess of RM3billion which is sufficient for its property division in the coming years. “We are confident that the property division will continue to expand with the on-going projects,” said Low Gay Teck, Managing Director of Land & General Berhad. www.land-general.com

NOVEMBER 2013 BUILDING AND CONSTRUCTION / PROFESSIONAL EXECUTIVE SEMINARS AT JW MARRIOTT HOTEL, KUALA LUMPUR WWW.ASIAPACIFICEVENTS.COM

Tendering, Cost Estimating and Contracts Administration No. E1 Date: 7 & 8 November 2013 Speaker: Mr. Allan Ang Office Administration for Personal Assistants and Secretaries – In Pursuit of Administrative Excellence! No. E2 Date: 7 & 8 November 2013 Speaker: Ms. Teresa Alberto – Awarded the International Training Fellow of the World by Junior Chamber International University based in the US (highest award awarded to a trainer) Automated Home & Building Conference 2013 No. E3 Date: 11 November 2013 Speaker: 1. Mr. Darrell Zhang - Co-Founder, Intraix.com* 2. Mr. Justin Kang – Business Partner, Domo concepts Sdn Bhd 3. Dr. Haritharan Gunasingham- CEO, Eutech Cybernetic Pte Ltd* 4. Mr. Guven Togan- CTO, PCOM Pacific Sdn Bhd* 5. Mr. Norman Lee- CEO, Anjels Pte Ltd* 6. Mr. Mohan Dev Dhingra - Managing Director, InviroTech Systems Sdn Bhd* 7. Mr. Tan Jian Sing - Director, Yeylol Technology* * Invited JKR (PWD) 203A Standard Forms of Building Contract – Practice & Procedure and Contracts Administration No. E4 Date: 14 November 2013 Speaker: Mr. Teng Kam Wah – LLB (Hons), LLM (London), BSc (Hons) (Malaya), CLP, FCIArb

Malaysian Standard Form of Construction Contract (PAM 2006) (Clause by Clause Analysis / Practice & Procedure and Contracts Administration) No. E5 Date: 15 November 2013 Speaker: Mr. Eugene Tan, Lawyer, LL.B (Hons), More than 18 years experience in the construction sector Effective Management for Properties and Facilities (In Regard to Building Management) No. E6 Date: 21 & 22 Nov 2013 Speaker: Mr. Mike Pong Yeang Yong- Master Degree in Science (Facilities Management) from Heriot Watt University, Edinburgh, UK and Diploma in Architectural Technician. Social Media Networking (and e-Commerce) Convention 2013 No. E7 Date: 29 November 2013 Speaker: 1. Mr. Laurenz Koehler -MD, Duxton Consulting Group Singapore* 2. Mr. Pavel Bulowski - Territory Manager Asia - Pacific Socialbakers 3. Dr. Low Lee Yong- CEO, MHC Asia Group* 4. Dr. Milan Agnihotri- Group Director, Brand Planning and Innovation, McCann Worldgroup Malaysia 5. Mr. Stefan Bruun – Founder & Managing Directo, Lion & Lion* 6. Mr. Richard Hall, MD, The Nielsen Company* 7.Mr. Vijayratnam T- Vice-President, MDeC* *Invited

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Budget 2014 Surgery or just painkillers? Text: Emilio Vergara

n recent months, we’ve seen and experienced several turbulent episodes including the tightening of lending guidelines by Bank Negara, the announcement of a new Bumiputera-focused economic model, the hike in petrol price, crackdown on illegal foreign laborers, and not forgetting the Titanic that left all these in its wake – GE13. And as we move into the tenth month of the year, one major announcement awaits – Budget 2014. The Budget 2014 which is to be tabled on 25 October is quite a highlight for the real estate industry (well, a highlight for any industry if you come to think of it) since experts and industry practitioners have been predicting a much stringent policy. And if last year is anything to come by, they’re expecting at least another 5% rise in the Real Property Gains Tax (RPGT). In Budget 2013, the government revised the RPGT to 15% from 10% for properties sold within two years,

and for properties sold between two and five years, the rate was revised to 10% from 5%. Clearly, the increase of the RPGT is to curb further speculation by investors. However, the Real Estate and Housing Developers Association (REHDA) has said that it will have little effect on curbing speculation. So, is increasing the RPGT by a startling percentage better? To that, analysts have warned that a jump of 10% or more would drop a bombshell in the market. Nevertheless, if the RPGT is increased in the upcoming budget announcement, it will definitely affect the entire property scene. Yet ultimately, it is the effect on property prices which we are really concerned about. Is the RPGT really going to make houses more affordable for the typical Malaysian who earns an average of RM3,000? Or should we tackle it the other way round and increase that RM3,000 instead?