6 | CEO’S COVERFOREWORD STORY
EDITORIAL Editor Chang Yan Yi Writer Yogeetha H. Jeevan DESIGN
2012 A Year of New Opportunities Happy New Year and warmest greetings at the start of another year! Hope the holidays have left you refreshed and rejuvenated to take on the challenges of a whole new year.
Art Director Angeline Lim Senior Graphic Designer Irene Lim Graphic Designer Jason Kwong DISPLAY ADVERTISING Head of Display Sales Lily Kong Magazine Co-ordinator Sarah Samad AGENT ADVERTISING
For the iProperty Group, the New Year provides the perfect opportunity for us to set new targets, achieve new milestones and set new benchmarks! In order for these goals to be achieved, it is crucial for everyone to be aware of the goals set and be aligned towards achieving them, without which, these goals will never be achieved.
Agent Sales Manager Leon Kong
To all who have set goals for the year, I hope you meet all the challenges that may come your way with tenacity and enthusiasm. It is vital to remember that anything is possible, if we work hard towards achieving them, even in the most daunting adversity, we will triumph.
CONSUMER Product Manager MATTHEW WONG
This month, is also a time to celebrate Chinese New Year and this year, according to the Chinese calendar, marks the year the Dragon. It is often believed that that the dragon is an auspicious symbol as it signifies success and happiness. So to all celebrating, Gong Xi Fai Cai! May success and happiness be yours all through the year! Very best wishes for a rewarding, healthful and happy 2012 to all of you and your families!
MARKETING Consumer Communications Manager Foo Chia Chern
Customer Product Manager Franz Narcis Customer Communications Manager Angela Sargunan MANAGEMENT Chief Executive Officer Shaun Di Gregorio Country Manager – Malaysia Timothy Hor Manager Business Operations Loh-Lim Shen Yi iProperty.com Malaysia Sdn Bhd (600850-K) 45-6 The Boulevard, Mid Valley City Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia. Phone: (603) 2264 6888 | Fax: (603) 2264 6999 Sales enquiries: my.sales@iproperty.com Editorial Matters: editorial@iproperty.com General enquiries: my.info@iproperty.com Subscription: subscription@iproperty.com
Shaun Di Gregorio Chief Executive Officer The iProperty Group
iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd 45-6 The Boulevard, Mid Valley City, Lingkaran Syed Putra 59200, Kuala Lumpur, Malaysia. Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect iProperty.com’s views. Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. Printer Percetakan Osacar Sdn Bhd Lot 37659, No. 11, Jalan 4/37A Taman Bukit Maluri Industrial Area Kepong, 52100 Kuala Lumpur Malaysia Distributor MMS-Media Marketing Services Sdn Bhd
12 | NEWS | Governance & Finance
Bill for Kampung Baru Development Approved The bill for Kampung Baru development was approved at the Dewan Negara, reports Bernama.
to the land would not be coerced into surrendering their land for redevelopment.
The voting for the Kampung Baru Development Corporation Bill 2011, requested by the opposition, saw 38 members of the house supporting while only eight opposed the proposed second reading, thus resulting in the bill being passed.
"Coercion will not occur as the process will take a long time. Instead there will be a consultation process and any infrastructure that needs to be repaired will be repaired quickly.
The vote by division was carried out after an opposition member submitted a motion to Dewan Negara deputy president Datuk Armani Mahiruddin, who allowed the voting after deciding that the motion met the Proceeding Regulations.
"This painstaking process will ensure that landowners or heirs will not be put under undue pressure as they can agree or disagree during discussions," he said.
On Oct 5, the report noted, opposition MPs failed to block the Kampong Baru Development Corporation Bill 2011 from being passed through a vote by division with 72 MPs supporting while only 28 had opposed the proposed second reading. Earlier, when winding up the debate on the bill, Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin said landowners or heirs
Sime not likely to make any major changes in E&O at the moment, says Analyst Sime Darby Bhd’s move to appoint two of its top executives – president and group chief executive Datuk Mohd Bakke Salleh and group chief operating officer Datuk Abdul Wahab Maskan – to board positions at Eastern & Oriental Bhd (E&O) has elicited both positive and neutral responses from analysts. E&O told Bursa Malaysia in a filing on Tuesday that it was appointing Bakke and Wahab as nonindependent and non-executive directors. It also announced the resignation of non-independent and non-executive director Thomas Teo Liang Huat. A local bank-backed analyst said it had been expected that Sime Darby would place board members at E&O following its purchase of a 30% stake in the latter in September. The analyst added that Sime Darby was not likely to make any major changes in E&O at the moment. “There is no catalyst for that to happen.” Another analyst said he was neutral on the news, adding: “It (the board appointments) is not surprising, what would be surprising is if they did not take board seats.”
The acquisition, which sparked discontent among minority shareholders for the 60% premium-tomarket price paid to the three parties for their shares, prompted a review by the Securities Commission into whether there was collusion involved in the share sale and if Sime Darby had to make a mandatory general offer for the rest of E&O’s shares, but the regulator ruled otherwise. Sime Darby, now E&O’s single largest shareholder, also signed a three-year agreement with the latter to cooperate in three areas – sharing knowledge and expertise, leveraging on each other’s core competencies, to explore economic opportunities. While Sime Darby has reiterated that it did not buy into E&O with the intent to merge, Bakke had said that he would not rule out a general offer and might make one if it was appropriate. Previously, the ECM Libra Financial Group Bhd, which currently has a 6.4% stake in E&O according to Bloomberg, had attempted to get two of its representatives – Mahadzir Azizan and Leong Kam Weng – to the latter’s board during its AGM but failed to do so after shareholders voted in opposition.
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More developers to build homes with PR1MA SEREMBAN Dec 14 - More large developers are expected to work with the government to build afforable homes under the Projek Perumahan Rakyat 1Malaysia (PR1MA) housing scheme. Prime Minister Datuk Seri Najib Razak — who launched PR1MA's collaboration with Sime Darby Bhd to build 2,200 houses in Labu, Seremban on Tuesday — told reporters, "They are coming on board one by one. Sime Darby is the first because they have land and are prepared to launch. So we gave them the honour." The prime minister said PR1MA is scouting for land to undertake affordable housing projects. The chairman of PR1MA is former minister and current ambassador to the US Datuk Seri Jamaluddin Jarjis and the chief executive is Datuk Abdul Mutalib Alias. The first PR1MA housing project was launched in Putrajaya two months ago. But the project launched on Tuesday is the first development to be undertaken jointly by PR1MA and a private entity. The project will have 2,200 houses on 62ha. The units are priced
at RM200,000 to RM250,000 and the studio apartments will cost around RM140,000. Phase one will comprise 420 homes. "This will fulfil the needs of those who earn RM2,000 to RM6,000 who are in need of housing but cannot afford houses at the high prices on the open market. "The government can come in through the facilitation fund, where we can contribute to the cost of infrastructure. It will be a very small percentage of the overall cost," he explained. The project will begin early next year and is expected to be completed within 16 months as it will use the Industrialised Building System (IBS), which expedites the construction period. The houses will incorporate features such as a common solar system and rainwater harvesting system. It has identified several areas for these projects, including Ara Damansara in Petaling Jaya near Subang Airport, Bandar Bukit Raja in Klang, Putra Heights in Subang Jaya, Kota Elmina in Sungai Buloh, Elmina West in Shah Alam and Lagong Mas in Rawang, Selangor.
Pavilion REIT seeks expansion PAVILION Real Estate Investment Trust (Pavilion REIT), the largest retail REIT in Malaysia, is eyeing more local assets to spur growth. Pavilion REIT Management Sdn Bhd chief executive officer Philip Ho said the trust is seeking opportunities to expand its assets in Penang, Johor and the Klang Valley. Ho said Pavillion REIT will evaluate any financially viable investment opportunity that comes around. "As a retail real estate investment trust, our duty is to acquire malls and build up the portfolio," he told reporters after its listing ceremony here. Ho said the company's trustees had signed three rights of first refusal (ROFR) to acquire Farenheit88, the Pavilion Mall's extension, and a mall in USJ Subang Jaya. With an appraised value of RM3.54 billion, Pavilion REIT is currently made up of two assets - Pavilion Mall and Pavilion Tower. The mall, which contributes 96.4 per cent to the appraised value, has 1.3 million sq ft of net lettable area. It boasts of about 450 retail tenants, making it the largest premium retail fashion mall in Malaysia. Pavilion REIT yesterday fetched a 13.3 per cent premium over its offer price on its debut on Bursa Malaysia. It opened at RM1.03, 13 sen higher than its institutional price of 90 sen, with 15.7 million unit shares traded. Ho said the listing provides the company with direct access to capital markets, thereby strengthening its financial capacity to seize new opportunities in the country.
14 | NEWS | Property Market Updates
iProperty.com Malaysia and REHDA Penang Collaborates Penang, 21 December 2011 – The country’s No.1 property website, iProperty.com Malaysia, today joined forces with Real Estate and Housing Developers Association Malaysia (REHDA), Penang, to organize the first and largest property iProperty.com EXPO in North Malaysia. The signing ceremony was formalised by iProperty. com Malaysia’s Country Manager, Timothy Hor and REHDA Penang’s Chairman, Dato’ Jerry Chan Fook Sing. The MoU between iProperty.com Malaysia and REHDA Penang will see both parties working together to organise the first and largest property EXPO in March 2012 in Penang. The partnership signifies both parties commitment to not only boost the property market but to also make Malaysia the preferred destination for foreigners to invest in. The iProperty.com EXPO, with the objective to achieve an exhibit of over RM1billion worth of properties, will also be aimed at attracting qualified local and international buyers. It will also feature prominent developers, international property investment companies, real estate agents, asset managers, banks and insurance providers. The iProperty.com EXPO, which is set to be organised in March 2012, will feature real estate specials and bargains, as well as deals aimed to reward rightful buyers with quality homes and lifestyle products officer by local and international brands. This first and largest EXPO in North Malaysia aptly complements the government’s efforts to boost the property industry in Malaysia while showcasing the top-notch world class developments in Penang.
LBS Launches Nordic-Themed Homes at D’ISLAND Residence Petaling Jaya, 16 December 2011 – LBS Bina Group Berhad (LBS) today launched Nautilus, D’Island Residence’s latest three-storey superlink homes priced from RM1.71mil for land area of 24’ x 80’ and RM1.81mil for the 24’ x 100’. Inspired by the classic charm of the Nordic region as well as its renowned tradition of minimalist design, Nautilus will appeal to those with a discerning taste for subtlety and understated elegance. LBS D'Island Nautilus The luxury Superlink homes, each endowed with an authentically Nordic essence, boast a spacious gross built-up area from 4,246 sq ft for 24’ x 80’ and from 4,791sq ft for 24’ x 100’, defined by versatile en suite spaces throughout.
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YTL to start selling luxury homes in Singapore
LEGOLAND Malaysia on track for '12 opening
SINGAPORE - YTL Corp may begin selling its luxury home project in downtown Singapore in the first half of 2012, more than four years after buying the site, as the Malaysian developer expands its holdings in Asia. The project, converted from an old apartment building on Orchard Boulevard that the company purchased in 2007, will have 78 units targeting wealthy Asian buyers from countries including China, Indonesia and Malaysia, according to Kemmy Tan, the head of YTL's real estate unit in the city-state. YTL managing director Francis Yeoh has been expanding outside of Malaysia into the real estate markets in countries, including Japan, China and Singapore to take advantage of Asia's growing affluent property investors. The group also has businesses in utilities and cement. "Wealthy Asian property buyers have now gained more exposure to more sophisticated life-style and design," said Tan, adding that she estimated buyers would probably be willing to pay a 20 per cent premium compared to regular prices for the design by a renowned architect.
LEGOLAND Malaysia is on track for an exciting 2012 opening in Iskandar Malaysia. In a statement today, LEGOLAND Malaysia announced the installation of steelworks for its iconic roller coaster ride called the LEGO TECHNIC Test Track, and the sale of annual passes. For a limited period only, LEGOLAND Malaysia is offering pre-opening annual pass at RM195 for adults (normal price RM275) and RM150 for children (normal price RM210). Gate prices are at RM140 for adults and RM110 for children while Mykad holders get a RM30 rebate at the gate. LEGOLAND Malaysia is the first such theme park to open in Asia-Pacific and the sixth in the world.
The project will be designed by Antonio Citterio, an Italian architect whose work includes the Bulgari Hotel in Milan and Bali and the Ermenegildo Zegna Group's new Milan headquarters, marking his first residential project in Asia. YTL bought the original Westwood Apartments building for S$435 million (RM1.06 billion) in 2007, a record at the time for the purchase of an existing apartment through a so-called en- bloc sale. It had since leased out the units. Tan declined to say how much YTL would sell the units for, which will have areas of between 1,000 and 3,500 sq ft, adding that the average prices of luxury apartments in the area ranged between S$3,800 and S$5,000 a square foot (RM9,300 and RM12,200). The Kuala Lumpur-based company is the biggest shareholder of Starhill Global REIT, a Singapore-based property trust that owns stakes in the city's retail malls such as Ngee Ann City and properties in Tokyo's Roppongi and Daikanyama shopping districts.
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16 | COVER STORY
Riding The Wave of Elegance
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W
aves of change bring us to different shores at various points in our life. However, one of the shores that we simply must not miss is the one that carries an improvement to our overall quality of life and opportunities for growth, both personal and professional. This is what The Wave, Georgetown’s brand new exclusive suite tower by Ivory Properties Group Berhad offer, delivering a higher quality of life thanks to its vibrant and dynamic design coupled with its unbeatable location right in the heart of Georgetown. The RM241.9mil gem in the Pearl of the Orient, is awash in swank and style as it tracks the pulse of the city. Fascinating Flourish of Facilities
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The Wave comprises of 312 individual suites, which are all aesthetically designed according to four unique types, namely A, B, C, and D. The units are fairly spacious, with the smallest measuring 1,205 sq ft and the biggest up to 2,540 sq ft. Those who love the usage of space and enjoy the flexibility and liberty that space provides will definitely love The Wave. The Wave’s speciality lies in its outstanding exterior, where elegant sun protection stripes sync rhythmically and aesthetically over the glazed glass fa ade, creating wave-like illusions that catch the eye. Located in Penang Times Square, right in the heart of the island state’s capital, The Wave has the privilege of acquiring the last piece of prime property in downtown Penang, and is set to be a landmark in the island. The Wave is easily accessible through all major roads in the island, and its location provides for close proximity to mature amenities and boundless facilities. Weaving Through Modernity Shopaholics will simply rejoice in the fact that The Wave is housed in the landmark Penang Times Square, which is a lifestyle mall filled with boutiques, retail outlets, food and beverage outlets
01 Facility floor 02 View from the balcony 03 The Wave – Overall view
18 | COVER STORY
and entertainment outlets and an open-air plaza known as Chin Ho Plaza, which functions as an ideal congregation point for the latest events in town. In addition to this, The Wave’s brilliant location is within walking distance of major shopping complexes in the island like KOMTAR, Prangin Mall and First Avenue, making it the perfect trifecta for retail therapy. Then there is the convenience of wet markets, Sunshine City supermarket and Gama just down the road that makes marketing for food and daily needs accessible to homemakers and young urban professionals. As Penang is famous for its great array of food, the abundance of eateries located within Penang Times Square and nearby jives in well with The Wave’s grasp on this food haven. Families with school-going children will find the schools located within the vicinity of The Wave provide a good and balanced education while colleges located just a stone’s throw away, encourage those who need to pursue tertiary education with a safe haven to call home. For peace of mind, there is a police station and also a clinic located nearby, in case of emergencies. A Tendency for Appreciation The suites will appeal to those who are looking to invest in property, as it is bound to appreciate in capital value in the coming years. Expatriates will revel in the convenience and comfort that The Wave offers, and will definitely appreciate the close proximity to Penang’s famous waters. The Wave also suits those who are looking at an ideal place to start an office or business as its proximity to
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the retail hub and the city centre makes it an optimal place as a commercial nexus. Coupled with an idyllic working environment, offices at The Wave will be the envy of other business. The Wave is the brainchild of Ivory Properties Group Berhad, which was established in 1999 and has since grown into an established and reputable property developer in Penang and Northern Malaysia. Ivory’s award-winning project portfolio includes medium to high-end condominiums, semi-detached and bungalows, boutique gated communities, retail and commercial lots and more. Set for a launch in 2012, The Wave is expected for completion in 2015. Bumiputera purchasers are entitled to a 7% discount and further enquiries or registration information is available at www.ivory.com.my.
04 Executive suite interior 05 Third phase of Penang Times Square 06 Sky garden
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06 Location Map
iProject Listing QuickPro No: NC2355 Project Name: The Wave City: Penang Times Square, Georgetown, Penang Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Built Up: 1,205 - 2,540 sq ft Unit Available:312 Bumi Discount: 7% Completion Date: 2015 (Expected) Developer: Ivory Properties Group Bhd (673511-M) 73, Birch House, Jalan Dato Keramat Georgetown 10150, Penang Phone: (604) 2108 000 Fax: (604) 2270 000 Website: www.ivory.com.my
Visit iProperty.com.my for more details
20 | iProperty Insider
iProperty.com’s Inaugural Gala Dinner
Glamourous surrounds for a momentous occasion
iProperty.com Malaysia took the opportunity to celebrate the top developers, agents and partners in a glitzy and glamourous Gala Dinner held in Sunway Resort Hotel on December 7, 2011. The inaugural Gala Dinner, which saw 400 guests in attendance, was truly a night of firsts as it saw the official launch of the Malaysia Top Property Developers 2011/2012 coffee table book, a showcase of 36 of the country’s most well-known developers and their properties and is a priceless resource for property enthusiasts.
In appreciation to Malaysia’s Top Developers
Vital stats
Guests at the Reception Table
Mr. Frankie Tan of Seri Alam Properties (extreme left) with iProperty.com Group Managers
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(L-R) Shaun, Mr. Gerard Tan of Glomac, Mr GT Low of L&G, Daniel and Dato’ Foo of Prinsiptek
Agents in Attendance
(L-R) Ms. Priscilla and Ms. Shieh Li of Hatten Group
Guests from near and far
Dato’ Ter of Sunsuria with other guests
(L-R) Mr CB Yeoh of Mah Sing & En Azman Shah of Bolton
Mr Simon of Sunsuria with Russell Henry of EXPO
22 | iProperty Insider
Sian & Ernest, our MCs for the Night
Shaun, iProperty’s Group CEO officially welcoming guests
Interesting read for developers
Tokens of Appreciation for Developers in Attendance
Country Manager, Timothy Hor, addressing guest.
April showing Ms. Teh & Selangor Dredging Berhad’s profile
Dato’ Beh & Datin Michelle of EUPE with Lily Kong
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(L-R) Ms. Emily Cheng, Mr. Justin Chew and Mr. Chee Kok Keong of OSK with iProperty.com’s team
(L-R) Mr. Khow Hock Seang & Ms. Katherine Koh (Plenitude)
(L-R) Ms. Fara Inez (Glomac), Mr. Vincent Eng (Dijaya) & Marco Goh (iProperty.com)
(L-R) Mr. Tarcker Heng (Taman Jadi) & Mr. Brent J. Simon (Alen)
Lucky draw winners with gifts from Signature Kitchen and Alen
(Standing L-R) Mr. Vincent Eng, Gerald Tan, Dato’ Seow, Marco Goh & Krishnamoorthy (Sitting L-R) Ms. Fara Inez, Mr. Mohd. Johan Shadzli, Lao Chok Keang & Peter Teh
24 | FEATURED PROPERTY | SA65 TAMAN PERDANA
SA65 Taman Perdana
A Prime Residence in Penang With its plus-sized units and strategic location, SA65 Taman Perdana is sure to capture the hearts of trendy Penang homeowners who value space without compromising on privacy and security. Built on 15.6 acres of land on a prime freehold location in Simpang Ampat, Seberang Perai Selatan, the first phase of this project consists of 30 units of threestorey semi-detached house, 67 units of three-storey terrace house, 14 units of three-storey bungalows and eight units of four-storey commercial blocks. Great accessibility and security 01 Semi-D perspective 02 Contemporary exterior 03 Spacious living area 04 Unique-style commercial blocks
The semi-detached houses come with a built-up of 4,400 sq ft with 2,640 sq ft of land area. This sizeable unit offers homeowners 5+1 bedrooms with 4 bathrooms at a price range of RM 728,000 to RM 900,000, perfect for huge families or those who value space and comfort.
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The terrace house, on the other hand, comes with a built-up of 3,616 sq ft with 1,540 sq ft of land area. With prices ranging from RM 528,000 to RM 700,000, the units come with 5 bedrooms and 4 bathrooms.
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Both the semi-detached and terrace houses are located within a secure and guarded community with a single entry check point to cater for residents that place importance on peace-of-mind, privacy and security. The monthly maintenance fee is pegged at RM 100*. Integrated Community Ideal According to the developer, Great Marvel Sdn Bhd, SA65 Taman Perdana is designed with multi-generation families in mind as well as upgraders who would enjoy bigger space and a secure environment. Slated for completion by the end of 2013, SA65 Taman Perdana will offer complete living experience with the addition of its commercial units comprising of 4-storey bungalow-style commercial blocks. The flexible features of these units, each with at least 10,000 sq ft of space should
26 | FEATURED PROPERTY | SA65 TAMAN PERDANA provide a boost to its commercial operation where space and functionality are of primary importance. It also boasts a unique development plan whereby the site-layout of this project is in a grid arrangement. This allows freedom of each phase from the other and completion of a phase ensures a fully-integrated residential community, replete with its own green area, security features and easy access. The security of residents within this guarded community emphasizes the care and thought for the safety of residents within this caring community. Natural and functional spaces
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The units at SA65 Taman Perdana offer flexibility and functional space usage with lofty 16-feet ceilings and specially-designed natural ventilation to ensure the circulation of fresh air and the permeation of natural light. Each unit also comes with an additional open garden on the upper floor for private relaxation in addition to an indoor sky-light to allow natural light in and a glimpse of the sky as families get together to celebrate special occasions and moments together. Great Potential For Appreciation SA65 Taman Perdana boasts easy access because it is located along the North-South
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Double volume in living hall Luxury kitchen Stylish living area Master bedroom Open landscape with greenery in mind
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09 Highway, with it’s convenient 5-minute access to the Juru Interchange and a 15-minute drive to the Second Penang Bridge, which is under construction currently. With its strategic location and unique development plan, SA65 Taman Perdana has great potential to grow into a valuable estate for house buyers and investors in Penang. Those with the future in mind will greatly appreciate the free legal fees on the Sale & Purchase Agreement (SPA) offered by the
Location Map
developer as well as the 5% bumiputera discount in effect. SA65 Taman Perdana is brought to you by Great Marvel Sdn.Bhd, a wholly owned subsidiary of JMR Conglomeration Bhd, a public-listed company on Bursa Malaysia. For more information, visit www.jmrland.com or call 04-264 4992 / 04-588 4992.
iProject Listing QuickPro No: NC2319 Project Name: SA65 - Taman Perdana 3-Storey Semi-Detached House City: Simpang Ampat, Seberang Perai, Penang Property Type: Semi-detached House Tenure: Freehold Land Area: 2,640 sq ft Built Up: 4,400 sq ft Listing Price: From RM728,000 - RM900,000 Total Units/Lots: 30 Bumi Discount: 5% Maintenance Fee: RM100.00* Completion Date: End of 2013 (Expected) Developer: Great Marvel Sdn Bhd (862733-M) 65, Sri Bahari Road, 10050 Penang. Phone: (604) 264 4992 / (604) 588 4992 Fax: (604) 264 5122 Website: www.jmrland.com GPS Code: N 5.26964 E 100.47591
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28 | FEATURED PROPERTY | LEGUNDI RESIDENSI 2nd SERIES
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Legundi Residensi 2nd Series A Legendary Residential Enclave Ever wanted to stay away from the city, but secretly crave the strategic location that offers easy access to the city centre? Bandar Seri Putra, one of the newer integrated townships in the Klang Valley, offers just the right balance with Legundi Residensi 2nd Series, the latest phase of quality homes and the second of its kind to be launched in this strategically located township. The new phase boasts of 52 double-storey cluster houses, 16 double-storey semi-detached houses,
and 3 double-storey bungalows, each with singularly unique designs. The double-storey cluster homes called GIA notches a built-up area of 2,659 sq ft (33’ x 75’) and starts from RM708,000, the double-storey semi-detached homes called HANA measure up to 3,020 sq ft (40’ x 75’) and are priced from RM888,000, while the double-storey bungalows called FIONA sits on an undulating land area of 4,704 sq ft with a built-up area of 3,506 sq ft and is available from RM1,385,000.
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Inspired Locale, Greater Access Spanning an area of 8.44 acres, Legundi Residensi 2nd Series is located near the entrance of the Bandar Seri Putra itself, which is an integrated township spread over 898 acres of freehold land with lush landscaped surroundings and is home to about 18,000 residents. It definitely attracts career-minded urbanites, families looking for an upgrade to plusher surrounds or investors seeking their next vehicle of investment.
01 GIA cluster homes 02 Alfresco deck with water feature, FIONA bungalow house 03 Aerial view of Legundi Residensi 2nd Series
It is only a short drive away from the Putra Mahkota Toll Plaza and SP Retail Centre, which is the commercial hub of Bandar Seri Putra. Located along the KL-Seremban Highway, Bandar Seri Putra boasts fast and easy links to Kuala Lumpur, Bangi, Putrajaya, KLIA/LCCT, and Nilai. The Putra Mahkota Interchange is the dedicated expressway which makes Bandar Seri Putra all the more accessible regardless of movement from the north or the south. A Family-centred Neighbourhood Legundi Residensi 2nd Series spells convenience and family, as the enclave is located within a stone’s throw of essential amenities and facilities like schools, post office, petrol stations and grocery stores, banks, and even restaurants. The pasar malam that happens twice weekly nearby caters to the needs of busy, working executives while a whole host of facilities such as a police station in the vicinity, playgrounds
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30 | FEATURED PROPERTY | LEGUNDI RESIDENSI 2nd SERIES
04 and a townpark for healthy and fun living, suraus, clinics, and a Government Health Clinic with quarters all make for a balanced community growth. The houses themselves portray the uniqueness of the phase, encompassing a contemporary design with alternating faÇades for a more exclusive look. With only two entry and exit points, it is a safe haven for residents and a perfect township for a gated community. Coupled with the limited units available, exclusivity and privacy run hand-in-hand. Exclusive Design, Remarkable Deals The homes have a living-cum-dining area that opens to an al fresco deck with a water feature, for a feeling of calm and solitude. The master bedrooms of the homes in the phase come equipped with a state-of-the-art walk-in closet that enables effective storage while all bedrooms have an ensuite bathroom. The GIA and HANA homes come with 4+1
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FIONA bungalow house HANA semi-detached house Alfresco deck with water feature, HANA semi-detached house
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05 bedrooms, whereas the FIONA homes come with 5+1 bedrooms. Legundi Residensi 2nd Series was launched in November 2011 with the expected date of completion on November 2013. There are currently special promotions for interested purchasers, where the legal fees are absorbed by the developer and developer-subsidised loan legal fees are available to those who qualify. Purchasers need only to pay RM10,000 as down payment to sign the SPA and a Bumiputera discount of 7% discount is applicable. Those interested may visit www.umland.com or call 03-8927 1611. Bangi Heights Development Sdn Bhd a subsidiary of United Malayan Land Bhd.
Location Map
06 iProject Listing QuickPro No: NC2352 Project Name: Legundi Residensi 2nd Series - Gia City: Bandar Seri Putra, Bangi, Selangor Property Type: Cluster Homes Land Title: Residential Tenure: Freehold Land Area: 35’ x 75’ Built Up: 2659 sq ft Listing Price: From RM708,000 Total Units/Lots: 52 Bumi Discount: 7% Completion Date: Nov 2013 (Expected) Developer: Bangi Heights Development Sdn Bhd (236433-V) 34, Jln Seri Putra 1/2, Bandar Seri Putra Bangi 43000 Selangor. Phone: (603) 8927 1611 / (603) 8925 4972 Fax: (603) 8925 5058 Website: www.umland.com.my
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32 | FEATURED PROPERTY | SUNWAY NEXIS SOHO
Sunway
Nexis SOHO A Holistic Lifestyle Imagine waking up to the bright morning sun and taking a relaxing stroll to enjoy the scenic view of the lush green surroundings, with a mug of aromatic coffee in hand. Picture yourself winding down at the end of the day with a soothing swim in an infinity pool. Does this sound like a holiday? Forget tiring vacations and stash away your passport. There is a place closer to home which offers luxurious experience and relaxing ambience – and it could be the place you work and stay at! Sunway Nexis SoHo, a 147-units complex spanning close to 6 acres, offers a tranquil and luxurious lifestyle within urban cityscapes for those who revel staying amidst a beautiful mixture of forest reserve and skyscrapers.
Living Where Work is Play Sunway Nexis SoHo encompasses two designs; Type A measuring at 872 sq ft, and Type B at 936 sq ft, offers a versatile dual-usage space that enables you to work from the comfort of your own home. The flexible space is perfect for young urban professionals, entrepreneurs, home-based businesses, SMEs and SMIs. Located right in the middle of the vibrant and thriving commercial hub that is Dataran Sunway, Sunway Nexis promises maximum capital appreciation. As it is located in the prime area of Dataran Sunway near Kota Damansara, it enjoys access to a selection of Klang Valley’s major expressways, namely the NKVE, LDP and Sprint
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01 highways. A proposed MRT station will also be located less than 100 metres from Sunway Nexis SoHo, serving you an alternative solution to bypass the road traffic. Sunway Nexis SoHo is located close to Sunway Giza, a cornucopia of fashion and culinary delights, with a nearby Tesco hypermarket for groceries and daily needs. Also a stone’s throw away from the SoHo are major shopping malls such as One Utama, IKEA, IPC, e@Curve and Cathay Cineplex, thrilling shopaholics to no end. Another great reason to make Sunway Nexis your address is that it houses 3-storey retail shops and a 13-storey office tower, apart from the 20-storey SoHo tower complete with spacious 2-level basement carpark. Its integrated concept translates to convenience, as it connects all aspects of daily living within one wholesome sustainable entity.
and Sustainability (LOHAS) concept, which is made up of 5 pillars; Health & Fitness, Personal Development, The Environment, Sustainable Living, and Social Justice. Every SoHo is a corner unit, enabling optimum air ventilation and utilisation of natural sunlight. Residents could also enjoy the executive club facilities; an infinity pool for a relaxing swim, gymnasium for the health-conscious, a rest and reflexology area for those who need to unwind and relax, and a discussion room for meetings.
Living A Healthy and Sustainable Life
Love Mother Nature and everything green? Look no further, as selected floors of the SoHo come with a piece of nature; a themed Sky Garden complete with lush greenery and natural backdrops. Selected units of the SoHo are complemented with the jaw-dropping view of Seri Selangor Golf Club, Kota Damansara forest reserve & overlook the LOHAS green deck.
Sunway Nexis SoHo was designed and conceptualised based on the Lifestyles of Health
Sunway Nexis SoHo was recently launched in October 2011 and is scheduled for completion in year 2014.
34 | FEATURED PROPERTY | SUNWAY NEXIS SOHO
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Future MRT station within the vicinity for greater accessibility. Dual-usage space as both home and office. Nexis SoHo is equipped with Executive Club facilities. LOHAS (green) deck on the second retail floor.
Interested purchasers would be thrilled to know of an attractive financial package currently being offered: easy ownership scheme with only RM10,000 down payment, 0% interest during construction, and developer-borne SPA legal fees. Bumiputera buyers are entitled to a 7% discount. Sunway integrated properties Sunway Integrated Properties (SIP) is the property division of Sunway Berhad, a public listed dynamic and integrated property and construction conglomerate in Malaysia. The division has vast experience in managing and developing innovative and quality residential and non-residential properties which include retail, leisure, hospitality and commercial assets. SIP constantly takes steps to deliver products and services of unrivalled quality and value for its customers. This has helped it solidify its status as a leading community master developer with a high growth property development segment and a stable base of income from high yielding property investments segment. To date it has an extensive portfolio with successful and award-winning properties in Malaysia and abroad, namely China, India, Cambodia, Vietnam, and Singapore. Interested to know more about Sunway Nexis SoHo? Just visit www.sunwayproperty.com or call (603) 6141 6888.
Location Map
04 iProject Listing QuickPro No: NC2334 Project Name: Sunway Nexis SOHO City: Kota Damansara, Petaling Jaya, Selangor Property Type: SOHO Land Title: Commercial Tenure: Leasehold Built Up: 872 - 1,690 sq ft Listing Price: From RM802,000 - RM1,538,000 Total Units/Lots: 147 Bumi Discount: 7% Completion Date: 2014 (Expected) Developer: Sunway Damansara Sdn Bhd (179182-V) (joint venture project with Perbadanan Kemajuan Negeri Selangor, PKNS)
No.2, Jalan PJU 5/1A, Dataran Sunway, Kota Damansara, Petaling Jaya 47810 Selangor Phone: (603) 61416888 Fax: (603) 5639 9955 Website: www.sunwayproperty.com
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01
36 | FEATURED PROPERTY | 228 SELAYANG CONDOMINIUM
Soul of Selayang Over the recent years, the fast-expanding Selayang has seen vast improvements in road infrastructure as well as public amenities and facilities. The town’s full potential is finally realized by homeowners and property investors who benefit greatly from its strategic location and established amenities. It takes merely 15 minutes to drive to Kuala Lumpur City Centre, 20 minutes to Petaling Jaya, less than 5 minutes to MRR2, and 10 minutes to the DUKE Highway, which links you all the way to Damansara. With primary and secondary schools, banks, Selayang General Hospital as well as shopping centres such as Selayang Capital and Selayang Mall all within a 10km radius, you know you will be saving precious time in getting to your destination. Right at the heart of this hub of convenience is 228 Selayang Condominium. Built across 1.77 acres of land, it comprises 228 units, out of which 219 are condominium
units, and 9 units are exclusive 2-storey villas that come with a private sky garden and terrace. There are 8 modern designs to choose from, with built-ups ranging between 965 - 2,575 sq ft. It comes with configurations of 3–4 bedrooms complemented by 2–3 bathrooms, so there is plenty of space for a young and growing family. The condominium units are priced between RM288,000 - RM439,000, while the villas are tagged from RM690,000 - RM765,000. Its affordability will also appeal to young professionals and property investors. Launched in mid-December, non-bumiputera units are currently 95% sold while bumiputera units are selling fast with the easy scheme of “Pay Only RM2,000” as down payment, along with freebies such as built-in kitchen cabinets complete with hood and hob, built-in designer wardrobes, door grilles, water heaters and other quality fixtures & fittings which add value to the units.
228 Selayang Condominium
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01 Overall view 02 Sky podium 03 Infinity & children’s pool with water curtain
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A 3-tier security system with access card and CCTV will ensure you and your loved ones stay safe. Attractive Terms
03 228 Selayang Condominium is expected for completion in December 2014. Comprehensive Facilities With the range of facilities available at 228 Selayang Condominium, you will not have to go far for a spot of recreation and relaxation. Take a dip in the infinity swimming pool while your kids splash about in the children’s pool with water curtain. Fitness enthusiasts will be delighted with the modern and wellequipped gymnasium. Other facilities here include a multi-purpose hall, children’s playground, garden, launderette and kindergarten. Location Map
Subject to terms and conditions the developer is offering the attractive DIBS 10:90 scheme for buyers. It is also absorbing the legal fees on the Sale & Purchase Agreement and the stamp duty on the MOT. Early birds are entitled to a rebate, while bumiputras enjoy a 7% discount. Township Developer Mahumas Sdn Bhd, a development company incorporated in 1997 is known for redeveloping Rawang town. The redevelopment consists mainly of 2, 3 & 4 –storey shop offices, commercial buildings, high-rise developments, hotels and medical centres – to facilitate the growing needs of Rawang businesses. Other ongoing projects by Mahumas include the construction of Rawang bypass through the old part of town to ease traffic congestion and construction of government buildings. Mahumas is also undertaking some residential developments in the heart of Rawang town, which consist mainly of double-storey semi-detached houses and 2 & 2 1/2 storey link houses. iProject Listing QuickPro No: NC2118 Project Name: 228 Selayang Condominium City: Selayang, Selangor Property Type: Condominium Land Title: Residential Tenure: Leasehold Built Up: 965 - 2,575 sq ft Listing Price: From RM288,000 - RM765,000 Total Units/Lots: 228 Bumi Discount: 7% Developer: Mahumas Sdn Bhd (429077-w) 25A, Jalan Tengku Ampuan Zabedah E9/E 40100 Shah Alam Selangor Darul Ehsan. Phone: (603) 6093 3118 Fax: (603) 6093 3176
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38 | FEATURED PROPERTY | NEW ENGLAND
NEW ENGLAND
01 Many government buildings and other structures in Putrajaya are recognized as ‘smart buildings’ and come fully equipped with state-of-theart technology. Large segments are covered with lush greenery, tranquil lakes and wetlands and planners have taken great care to construct structures in harmony with the gentle contours of the natural terrain.
02 Houses in New England, in the United States are known for their impeccable, timeless designs, sturdy structures and understated elegance. Spacious and stately, these lovely homes - which embody the classic flavour of the American upper east coast have become a part of Malaysia’s scenic federal capital. Gorgeous, unique New England style residential designs are now available as exclusive semi-detached homes, right in the heart of Putrajaya. Picturesque Location Visitors to Putrajaya will agree that the city is a meticulously designed, flawlessly landscaped urban wonder. Located just 20 km from Kuala Lumpur via the Maju Expressway (MEX) and close to the Kuala Lumpur International Airport in Sepang, this oneof-a-kind Malaysian city offers residents the conveniences and amenities of 21st century living as well as the serenity and natural beauty of a bygone era.
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Living & dining area Type C Type D Panoramic view of Precinct 18
New England Homes, tucked away next to a picturesque lake in Precinct 18 fits perfectly into this contemporary, captivatingly beautiful, low-density city. Also known as New England, Phase 2, it is a signature collection and the latest addition to the New England Phase 1 series which was sold out in record time. Exclusive Features And Facilities New England homes will undoubtedly appeal to those with a taste for style and sophistication. Each of the two and a half storey semi-detached houses is large and elegant, and comes with 6 bedrooms, 5 bathrooms and a utility room. All homes feature classic dormer windows, distinctive wrap-around verandahs and high, lofty ceilings which add to the delicious feeling of airy spaciousness that is rarely found in other types of residential designs. New England homeowners and their families can look forward to a picture perfect life by the lake. Along with an incomparable lakeside view to enjoy, there is also a lakeside promenade, jogging track, futsal courts and playground located nearby. The homes
iProperty.com malaysia | 39 are also minutes away from shopping zones, both primary and secondary schools and all the necessities every urban family needs.
of the distinguished master developer of Putrajaya – Putrajaya Holdings (A member of Petronas Group).
Design Details And Completion Date
Putrajaya Holdings was given the responsibility of designing and developing a comprehensive, highly-strategic 20-year Putrajaya Masterplan back in 1995 and has more than met the target of translating vision into reality.
There are currently only limited units available of this stunning 62 semi-detached homes. Each house is a freehold property and buyers can choose from seven fantastic floor plans in three distinctive designs – Type A, C and D. The built up area for these homes range from a significant 3,170 to 3,689 sq ft. Buyers can look forward to owning up to more than 5,000 sq ft of land as lot sizes stretch across an impressive 2,603 sq ft to 5,466 sq ft. Prices range from RM1,123,790 up to RM1,502,337 and there is a discount of 7% for bumiputera buyers.
Working with renowned names in the construction industry, Putrajaya Holdings are the proud developers of more than 20 signature projects across the city, comprising office buildings, commercial hubs as well as residential properties.
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New England homes cover a total of 13 acres of development while the Gross Development Value is RM80.32 million. Launched in March 2011, the expected completion date for the entire development is December 2012. Respected Developer One of the most unique developments in the country, New England homes are the result of the dedication and vision of Putrajaya Homes Sdn. Bhd., a wholly owned subsidiary
04 Location Map
iProject Listing QuickPro No: NC2310 Project Name: New England City: Precinct 18, Putrajaya Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 2,603 - 5,466 sq ft Built Up: 3,170 - 3,689 sq ft Listing Price: From RM1,123,770 - RM1,502,337 Unit Available: 19 Bumi Discount: 7% Completion Date: December 2012 (Expected) Developer: Putrajaya Homes Sdn Bhd (427599-X) Ground Floor, Block 1, Menara PjH Precinct 2, Pusat Pentadbiran Kerajaan Persekutuan 62100 Putrajaya. Phone: (603) 8888 6633 Fax: (603) 8889 5169 Website: http://i-putra.com/putrajayahomes
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40 | TALK POINT | EQUIPARK
An Oasis
in the Sky at Shah Alam Just next to the iconic Shah Alam stadium lies a legendary serviced apartments which calls to mind the warm comfort of tropical breezes and swaying palm trees, which coincidentally or not, is captured in Accapella’s logo. We chatted with Mr Ong Boon Cheow, the Managing Director of Sri Accapella and the upcoming Accapella Residences and All-suite Hotel, which is exclusively brought to us by Equipark Sdn Bhd, as we went on a walkabout tour of Sri Accapella’s impressive grounds.
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iProperty: When Sri Accapella came up, what was Equipark’s main area of business? Ong Boon Chow (Equipark): Equipark is a diversified group of companies that specializes in all aspects of property development, from project conceptualization all the way to marketing, project management, planning & design to construction & property management. Our landmark project was when we developed two gleaming seven-storey industrial buildings in Bukit Jelutong, Shah Alam for Pacific Bank (now part of Maybank Group) and a foreign investment firm.
The current place we are in, Sri Accapella Serviced Residences, was completed in 2004 and was first conceived as smaller units of apartments which were either 2+1 or 1 room studios that came with a full range of fittings and furnishings, akin to a home away from home right here in Shah Alam. When we first came up in Shah Alam, we thought that we would have a lot of resistance to the take-up rate, but we found out otherwise as there was a ready group of people who were looking for a good balance of better quality of life with smaller spaces to maintain and were either young urban professionals or the silver haired generation who have had their fill of maintaining larger compounds and living spaces. iP: As it is a new year, what new offerings can we expect from you in 2012? EP: In the pipeline is the development of 3.2 acres on the other side of the current land here in Shah Alam. We have submitted plans for a neighbourhood shopping mall which taps into the current demand of local residents’ desire of not wanting to travel far to enjoy the high-end offerings of branded high-street labels such as seen in more established neighbourhoods like Bangsar’s BSC and Subang Jaya’s Empire Shopping Gallery.
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Mr Ong Boon Cheow giving us the grand tour Explaining the architectural concept of the landscape to the Editor Accapella Residences with its unique Sky Park concept Fringed by palms, Accapella’s inspiration in brand positioning is retained throughout
We truly believe that a neighbourhood’s growth is about providing access to exclusive lifestyle experiences. In addition to that, we plan to include a hotel, office and SoHo block which will add up to a plot ratio of five phases. With this, we are looking at incorporating three floors of a shopping mall with three blocks above the retail podium. That said, the development of certain units is aimed for 2013 where we are selling only a few hundred units instead of thousands of units, which leads to our difference in strategy to sell less but price it differently. It is all about generating the same amount of revenue but lowering the risk substantially with the laws of supply and demand moving towards quality, branding and the positioning of our product. Crucially, it is all about changing the current mindset of buyers that Shah Alam is too far from amenities and is too set towards a certain segment of community. These are all things that we can change slowly.
03 “As for integrity and reputation, our last five years here at Sri Accapella is good track record of how our property management has done much to increase the value of the property.”
iP: What are the special features of your featured projects? EP: I think one of the main features that our current residents like is the fact that we provide full-fledged facilities which means that you only have to look after your apartment, which if you desire housekeeping services, can also be managed for you. This speaks of the evolving trends in the market for people who are specifically looking to downsize from their current premises. Another interesting feature is our signature Sky Park in future which is still being thought through but it is definitely something which has not been done before where we take trees from the ground level and elevate it to the rooftop for a natural ‘umbrella’ from the elements. The Sky Park will be a rainforest on the roof with space frames and platforms guiding not only the vegetation through the park but will function as a natural guide for residents and guests to luxuriate in its shade. This green lung will exist above both apartment and hotel blocks. In terms of security, we have a 4-point check with carpark entry which has a dedicated zone for residents only and there is an access-card access to the entry points on the ground floor, lift and other general amenities and the CCTV and 24-hour daily guard presence all contributes to peace of mind. In fact, there were no reported incidences so far in our Sri Accapella Serviced Residences so far.
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42 | TALK POINT | EQUIPARK to RM2,000 if it is not serviced. However, serviced apartments with corporate check-ins are our repeat customers and during weekends, the apartments are usually packed. iP: How do you foresee the property market outlook in Q1 of 2012? EP: I would say that it depends on the global slowdown in China, US and the Eurozone as fiscal discipline is practiced via belt-tightening measures. As for how this is affecting the local market, there are signs of oversupply in some residential offerings with vacancy or occupancy rates in certain pipelined projects occurring. There are also signs of Government lending policies being more stringent and household debt is now more carefully managed with many looking into investment being more prudent.
05 05 All you need is to move in with your bags with the fully-furnished service apartments 06 The interiors are designed to give a homely feel to residents
With that said, location and value continues to fuel demand for new properties as most investors research the area before buying. Meanwhile, the goodies handed out in the last budget seems to have lesser impact on speculators and demand is driven by those who buy to stay or invest as it is still seen as a safe haven against inflation and because the capital gains tax in Malaysia is low compared to other more developed nations. Finally, developers are seen to be more benevolent to buyers with the offering of DIBS which absorbs 5-10% of capital risk. So while the first quarter may be soft, but it is also potentially exciting as it is dependent on many factors.
iP: What kind of investment value can buyers expect from Accapella Residences using Sri Accapella as a guide? EP: With the Sri Accapella Residences charting a 6.5% triple net income for five years, we have a pretty good package for investors in which the owner doesn’t have to do anything but reap the rewards of their investment. Our property management service takes care of all outgoings including quit rent assessment, tenancy and repairs. In terms of property management, this is a good investment market. As for integrity and reputation, our last five years here at Sri Accapella is good track record of how our property management has done much to increase the value of the property. Property and rental value for a RM120,000 1 bedroom studio apartment is now about RM180 psf. As for location and the reputation of the developer, Sri Accapella has been one of the better condos or serviced apartments to stay in. Currently, the for sale price has increased from RM140,000 to RM360,000 after furnishing and then there is rental yield. The current rental rate is at RM1,000
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44 | TALK POINT | SUNWAY GRAND
Grand Visions Ahead As the Penang property scene heats up, we turn to Mr. Tan Hun Beng, General Manager of Sunway Grand Sdn Bhd, a longtime developer of prestigious townships such as Sunway Tunas in Bayan Baru for his views on the latest in the property scene ahead of the Chinese New Year on the island.
iProperty: Let us in on Sunway Grand’s background and presence in Penang. Tan Hun Beng (Sunway Grand): We have been around in Penang for nearly two decades as we begun with the development of Sunway Hotel, Georgetown on New Lane about 17 years ago. Ever since then we have been actively developing new residential and commercial projects, among them Sunway Tunas, where we are now, Sunway Bukit Gambier and Sunway Mutiara for residential and Sunway Prima for commerce.
to say to investors, if they wish to invest with us, they may have to wait for our next launch.
iP: How has the response been for your current projects? SG: We have one commercial project that is ongoing called Sunway Perdana on the mainland. It is 80% near completion and vacant possession will be by April 2012. This project is totally sold out, so I have
Aspera in Sungai Batu has fully sold-out and this is testament to the good response in the Penang market for homes as there is a scarcity of land, rarity of landed property and a definite zero-sum game in Penang as this island will naturally have limits on land availability in future. Also, it can be said
We have three residential projects ongoing at the moment, namely, Merica, Aspera and Cassia. For Merica in Sungai Ara, which comprises 98 units three-storey Terrace and Semi-Ds, the last phase Semi-D will see us launching our show unit on the Christmas weekend. As this is the last phase with only 12 units of Semi-Ds available, the launch of our show unit is a good chance to start buying.
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01 Mr Tan Hun Beng, GM of Sunway Grand 02 Sunway Merica’s spacious master bedrooms take up the whole floor 03 The compound and impressive built-up for Sunway Merica’s 3-Storey Semi-Ds 04 The master bedroom comes complete with luxurious walk-in wardrobes for ultimate glamour
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that there are no abandoned landed property developments on Penang island no matter how much the prices have gone up, as once you miss the opportunity it will be gone forever. Finally, Cassia in Batu Maung is our latest area of focus as we have launched Phase One out of four phases, which are the three-storey terraces. We plan for a launch in the middle of next year, but already there is a 70% take up rate as of now. So we are looking at a very optimistic full take-up rate by Cassia’s launch. iP: What are the new offerings that we can expect for 2012? SG: In the pipeline is a new development for a shop-office in BM town and boy, was it tough to acquire that particular land bank in BM. We began acquiring in late 2009 and was only successful with a few plots but today we have over 50 acres of land separated by a main road, Jalan Muthu Palaniappan, which is along the road to Jusco. We are developing the smaller lot of commercial blocks first as we are still
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46 | TALK POINT | SUNWAY GRAND
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05 Sunway Cassia’s 3-Storey Terrace offers vibrant communal living 06 The Tecoma Lounge offers neighbours an intimate interaction platform 07 A wide porch offers growing families ample parking space for their vehicles 08 Fringed by palm fronds, Sunway Cassia’s Palm Avenue calls to mind the easygoing nature of tropical breezes 09 The Fun Park is where famillies come alive
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Another interesting project that we have is in Sg. Ara right behind the present Regency Heights. It is slated for a highend development and will likely comprise of Zero-Lot bungalows, bungalows and luxury condominiums. This project is near approval to proceed and we will begin work with soil treatment, terrain monitoring and management and ground breaking works very soon. iP: What can we expect in terms of new landbank acquisition in Penang for the coming years? SG: We are continuing our efforts to acquire more land with the State Government as Penang’s State Government has three major highways and a tunnel project that is already tabled at the State Senate. We are hoping to bid for one of these projects and obtain a land swap deal as what IJM got when they developed The Light and improved the state’s infrastructure by building the Tun Dr Lim Chong Eu Expressway (formerly known as the Jelutong Expressway) for the State Government. As our sister company, Sunway Construction is involved in one of the MRT developments in the Klang Valley, we hope to leverage on our sister company’s
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applying for the permit which should be done by this quarter. Right across Jalan Muthu Palaniappan is the remainder of our land bank which will be used to develop the residential zone, which would be up by end 2012.
06 expertise to provide the state of Penang with infrastructure and amenities that locals and tourists can really rely on and of course help the state maintain its competitive edge with both local and foreign investors. In fact, where our sister company’s activities are concerned, Sunway Construction is already the main contractor for LegoLand in the Southern Growth Corridor of Iskandar in Johor. If you ask me where are the land banks of the State Government, I am not sure myself as the state’s holdings in prime areas are quite limited. It is true that while Penang may have a wealth of other resources, but even the Chief Minister has mentioned that it is one of the poorest states in Malaysia in terms of land banks available for development. As you have raised a very pertinent point, Georgetown’s unique status as a UNESCO World Heritage Site also means that most developments will only be able to be developed outside the heritage zone. iP: As there is a heavy level of interest in Penang properties, how do you foresee the Penang property market outlook in 2012? SG: As we are gearing up for Chinese New Year, and next year is the Year of the Dragon, many people see it as an auspicious year ahead. While the Eurozone debt crisis and fears of a double-dip economy in the US fuel the global market gloom, we here in Malaysia are safely buffered from
iProperty.com malaysia | 47
iP: What are your thoughts on the sky high prices that buyers complain that accompany the sky high new buildings on the island? SG: While talks regarding a property market bubble that is about to burst has been going on for years, I find it totally unfounded as the property prices is not beyond sensible pricing and while there is a strong investment trend in Penang properties, it is not as influential as the more developed markets of Singapore,
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In Penang we have a faithful standard that Penang’s properties will always go up. In fact, it is a well-known fact that properties in Penang appreciate by 100% of its initial selling price in 10 years. This translates to gross increase of 10% p.a. but after factoring in inflation and other maintenance cost, we are looking at a benchmark compounded rate of 6-7% p.a. In Penang, it is still a very interesting market as the population growth of Penang is projected to hit 1.6 million from 1.1 million currently in the near future. Hence, residential offerings are among the basic needs of this population that still needs to be met.
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its effect as we are still in the window period where a surplus economy is still the order of the day. So to those who speculate that the property market is headed for uncertain times ahead or even possibly a market slowdown, to me it is just fear or rumour mongering among those who are afraid of a fresh contagion or those fearing a market downturn.
09 Hong Kong and Taiwan. Therefore all speculation about a property bubble about to burst is just one of those talks that are again, fueled by speculation. In the luxury market, cost concerns are actually compounded by the rising prices of construction materials that are part of the reason why prices of properties are on the uptrend. Another reason that many buyers do not see is the hidden cost of developing the land. As developers, a lot of money goes into getting the land ready for the development. These include the cost of earth stabilization, retaining structure and foundation works. iP: Are there any trends that emerge from the middleincome wage earners with respect to the increasing house prices in Penang. SG: For the middle-income segment we are trying to work hand-in-hand with the Penang State Government in developing affordable and quality homes for all as this is our social responsibility as well. That said, it is a challenging prospect as the cost and land price sometimes does not justify the development for the middle-income gap. This is the reason why we see a diffusion of buyers to the suburban areas of the island where there is a variety of developments from both landed and condominium to choose from. In fact, the secondary market away from the prime areas of Gurney Drive, Tanjung Tokong and Pulau Tikus on the island all serve as good residential areas for the middle-income segment.
48 | SPECIAL FOCUS | MARKET OUTLOOK 2012
Property Market Outlook for
2012 As we usher in the new year and take stock of the property market, there seems to be market sentiments that point to a soft market with uncertain elements including talk of an upcoming General Election, the condition of the property market itself and other related issues such as heavier regulation on lending conditions and other signs that point to a mixed or uncertain market looking at us.
I talked to a number of sources to derive the market outlook this year, which appears uncertain right at the start of the year. With the end of Q3 of 2011 charting a positive note as developers continued their record-breaking takings, a few factors stood out in their favour. Among them was a good boost from the Government with the Economic Transformation Programme (ETP) initiatives fuelling good domestic takings. While most developers expect that domestic spending would continue in the coming year, there were some uncertain elements that contribute to an anticipated slowdown in Q1 of 2012. Governance Both Local and Foreign The first factor that was echoed by nearly all in the property market was on sentiments of an impending General Election. While talk is rife that there are signs that there will be an impending General Election being called for within the first quarter of 2012, the Prime Minister has not mentioned anything of this nature and buyers, both investors and those buying for own consumption are more aware of this change. To a certain extent, some developers have cautioned against such speculation as local housing is seen as a need rather than a want. In fact, in Chan Ai Cheng’s interview with Mah Sing’s CEO, Tan Sri Dato’ Sri Leong Hoy Kum, he cited two factors which continue to propel uptake in the property market: demographics and job stability. As long as these continue to be stable, the chances of having a cautiously optimistic market is still on the cards. As for global issues clouding the market, such as stricter structures imposed on China’s foreign capital outflows, fears of the US double dip
iProperty.com malaysia | 49
economy and the currency crisis in the EuroZone, these fears of a contagion effect or even effect on foreign direct investment in the property market remains to be seen. In my interview with Mr. Tan Hun Beng, Managing Director of Sunway Grand in Penang, he mentions a window period in which Malaysia is in, whereby there are global market trends which seem to be affecting market confidence, however 2012 is still seen as a window period where these issues do not affect the market in such a way that it will cause a sharp downturn or slowdown. In fact, the Penang property scene remains optimistic of maintaining its edge with the regular compounded benchmark growth rate of 6-7% p.a. being seen for investors. Financing Issues & Household Debts As most people turn over a new leaf for the new year, most will meet the greeting of better macroprudent measures set in place by Bank Negara Malaysia (BNM)’s ruling on Financial Service Providers, such as banks, that provide lending and credit instruments consider
“Among them was a good boost from the Government with the Economic Transformation Programme (ETP) initiatives fuelling good domestic takings.”
the Net Income of the borrowers rather than the Gross Income. While HBA has specifically stated their stand on this issue, BNM has yet to come up with a formula that calculates Net Income that will be the basis for lending to potential property buyers that require endfinancing. A brief check with a source in Bank Negara Malaysia has also mentioned that there are no formulas for the public yet but in place would be an example of how Bank Negara calculates Net Income for loans on its own employees by deducting from Gross Income Statutory Deductions (such as EPF, PCB, SOCSO, Zakat etc), Debt Obligations (Pre-existing Housing Loans, Car Loans, Credit Card Loans, PTPTN loans and such) and Domestic Deductions (these depend on the size of the family). Over the last two years, BNM has embarked on setting guidelines for its ‘responsible financing’ programmes due to the uncertainties of the global markets. Thanks to this, usage of Net Income calculation is but one of the macroprudential efforts of the Central Bank to set the tone for financial stability in the lenders market. Of course, in setting this as a benchmark, the use of net income will definitely impact those who are planning to take loans and in a way, impact economic growth in the short term but regulate growth for the long-term. In such a case, the growth vs. fragility issue that most economists and bankers debate about will be able to be balanced, albeit imperfectly for the current time, but with potential for review to make it a prudent financial measure.
01
01 Figuring out household debt and effective management is key to riding the uncertain market outlook.
50 | SPECIAL FOCUS | MARKET OUTLOOK 2012 Investment Market & Taxes As BNM spreads its wings to create a balanced economic climate, investors who buy properties only to ‘flip’ them or resell them in a short window period was met with the rise of 5% in Real Estate and Properties Gains Tax (RPGT) for the first two years of disposal. While this was done as a curb against speculation, it is not seen by many to adversely affect the general buying public or investors. In a discussion with Chan Ai Cheng regarding this issue, her thoughts were clear that an investor will typically hold on to a property for a minimum of 2-3 years on average if they were investing in new projects or selling them upon completion. As most projects take 2 to 3 years to develop, depending on whether landed or high rise, by the time the project reaches completion, the new RPGT rates would have lapsed.
02
Hence, even in an unstable market, there seems to be continued pockets of optimistic growth and the question of whether it is a good time to invest or a bad time to invest all depends on the person who is investing. While there are some discretionary caution such as end-financing and other concerns that lead to the mixed market sentiments, ultimately, the property market is still seen as resilient enough to withstand the various challenges mentioned.
“In such a case, the growth vs. fragility issue that most economists and bankers debate about will be able to be balanced, albeit imperfectly for the current time, but with potential for review to make it a prudent financial measure.”
02 The property outlook in Penang remains positive 03 Investors looking to gain from the current market sentiment should do their homework on related tax issues
03
56 | AREA FOCUS | PENANG
No Business Like Heritage Business After leaving Penang for a number of years, this writer sojourns back to her hometown and sees it in a brand new light. We glimpse the interesting possibilities available with those who have taken up repurposed pre-war houses in a chat with restaurateur extraordinaire, Narelle McMurtrie, who owns China House.
iProperty.com malaysia | 57
01
It all started over coffee as a friend of a friend mentioned about how Penang has changed in recent times and how our tastefully decorated and designed surrounds speak of how boom time has arrived in Penang, specifically Georgetown. As we laughed over how he had to show a Penangite around her own state capital, it also brought to consciousness the many ways that Beach Street has changed and how visionary settlers see Penang property as a valuable investment, not only in terms of capital appreciation but in terms of humanistic value that truly plugs into the creative soul of the city. Seeing Georgetown For What It Can Be I had heard of her before. I had even been to her place, Bon Ton KL, for one of those amazing dinners earlier on in my career but never have I ever had the
pleasure of meeting Narelle in person until I came to China House. Part affable coffee shop, part chic arts scene, part retail store and a whole lot of character, China House’s main entrance stands on Beach Street, which was better known as the Wall Street of Penang in its earlier days, thanks to all the banking and finance houses on this road itself. However, China House holds its own as it is made up of two houses that are joined in the backyard and it was through Narelle’s creative vision that these two houses were brought together under one roof with the other entrance facing the quieter Victoria Street. It was unthinkable that just a decade ago, after the repeal of the Rent Control Act, these very same quarters were left empty, in stark contrast to the buzzing crowd that was streaming into the dining area as we drained the last dregs of coffee in our cups.
58 | AREA FOCUS | PENANG
Setting Up China House While Narelle herself was buzzing by to tie up loose ends and seeing to the general day-to-day operations of China House, we managed to grab a few seconds of her time here and there to ask our questions as she darted around. When asked why she took up property in the heritage zone of Penang, Narelle’s simple answer was that she loved old buildings. It was very much the same spirit that helped her start Bon Ton in KL and then Bon Ton Resort in Langkawi, which is famous for the re-use of old traditional Malay kampong houses as villas at her resort in Langakawi. Speaking of which, Narelle spends her time shuttling back and forth Penang and Langkawi as she oversees the running of both places. We waited till a whole group of diners had been ushered to their seats at the cosy courtyard behind us before approaching Narelle with our questions on her experience in property purchase in the heart of Georgetown. While there were no legal or financial issues in buying a property right in the heart of the heritage zone of Georgetown, some owners have remarked about the difficulties in doing some renovations after purchasing the property in Inner Georgetown.
01 The courtyard that connects the two houses 02 Mirrors flank both sides of the cosy diner 03 FaÇade of China House on Beach Street 04 The amazing dessert spread available 05 An art gallery awaits above 06 A nook for a chat and a cup of tea towards the evening 07 The amazing collection of books on display
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04
iProperty.com malaysia | 59
06
05 The local heritage and conservation codes came into play when Georgetown was awarded the UNESCO World Heritage Site alongside Malacca in 2008. However, when asked if there were issues with it, Narelle just shrugged it off and said, “No, I had no issues with the local renovation codes whatsoever. Most of the renovations to China House were mainly structural and right from the start I had in mind an arts platform which was supported by a food and beverage space below. The end result has been exactly what I had expected.� The fact that China House nourishes both the body and soul is reflected in the good reception of its patrons both local and foreign alike, some on vacation, others on an extended stay and remarkably, a good portion, local Penangites. Unlike others eager to grab more properties in Inner Georgetown in the near future, Narelle has her hands full running both China House and Bon Ton Resort in Langkawi.
07
Little surprise then as she whizzed past us, signaling the end of our chit chat, she left us with thoughts swirling in our heads about the value of the properties in the cultural and heritage heart of Georgetown and how a good vision and idea is all that is needed to turn a pre-war shop house into a space that allows the denizens of Penang to indulge their cultural sides in.
60 | JOEY YAP
The Grand Duke’s Effect Behold the Grand Duke that resides within a minor area of the Southeast. It threatens to perturb your professional negotiations and career endeavors. You can regain better control and authority in your work surroundings by preventing yourself from facing this direction. Moreover, other forms of calamities and pitfalls can be further prevented and it even takes cares of any potential medical setbacks too.
The Ups of 2012’s
Even its name, the Three Killings, is suggestive enough of its nature. Thus, let’s not kill any potential for your business growth and leave the South area of your premises undisturbed, shall we? There should not be any ground breaking or renovation of any scale whatsoever within this sector so you don’t further provoke the harmful qi with negative consequences to both your property and its occupants. Bear in mind that failure to do so will lead to misfortunes and accidents, thefts, loss of wealth and material possessions. Don’t even get me started on the persistent health problems.
Downs Looking to boost of your commercial endeavours early in 2012? Then, just face in the right direction when working as your workstation’s location matters greatly in business. If you’ve been following the Flying Stars’ annual updates, you would be familiar with the periodic afflictions that feng shui brings. It is very unfortunate that these afflictions only aggravate illness, misfortune and bring a great deal of hostility manifested by bad qi. To prevent any mishaps or hazards you should cease any activity within the Southeast, South and Northwest sections of your premises throughout this year. The most dangerous sector is reckoned to be the Southeast, where for the most part, the #5 Yellow Star will be flying over. Forget any renovation plans, or only carry it out on a good date. You can counter the negative qi by placing metal items made of brass, copper or iron in this sector.
Conclusively, the final sector to be avoided is the Northwest. The Year Breaker, also known as the ‘Wrath of the Grand Duke’, spells serious consequences with outcomes that could be much worse than those triggered by the Grand Duke. Ask yourself this, do you want to continue activating the luck sectors we wish for, knowing that they are afflicted by bad luck stars during this particular year? Get a head start towards a better year. At Joey Yap’s Feng Shui and Astrology for 2012 Seminars, Joey Yap will teach to you the four winning strategies that will help you pave the least resistant path to success in all aspects of your life in 2012. For more info, check out www.masteryacademy.com/FSA2012/ippt
Joey Yap’s Profile
Joey Yap Consulting Group
Joey Yap is an expert in Chinese astrology services and audits, Classical Feng Shui, BaZi, Mian Xiang and other Chinese metaphysics subjects. For more information, go to www.masteryacademy.com/ippt
19-3, The Boulevard, Mid Valley City, 59200 Kuala Lumpur, Malaysia. Tel: +603-2284 8080 3 Fax: +603-2284 1218
62 | HBA
Prudence in Financing HBA is supportive of Bank Negara Malaysia’s (‘BNM’) latest announcement on Responsible Finance which was announced on 18 November 2011. It will help borrowers engage debt management in a more pro-active manner and negate the Non-Performing Loans (NPL) that haunts both borrower and lender should leaner times descend on us. The Responsible Finance guideline requires Financial Services Provider (“FSP”) to provide assessment of individual affordability and provide suitable and responsible advice to customers on their capacity to take on additional financing. FSP will be required to undertake a comprehensive assessment on the borrowers sources of income and verify against independent sources to ensure that the applicant has the ability to repay the loans throughout the tenure of the loan is much lauded. Furthermore, the income assessment shall be based on the borrowers’ Net Income, which is gross salary less statutory deductions such as EPF contribution and tax deductions.
Net Income = Gross Salary – Statutory Deductions (including EPF and taxes)
The Responsible Finance guideline also requires the FSP to clearly disclose to the borrowers the implications of any interest rate hike on the loans they take, illustrating to them just how much more they will have to pay should the Base Lending Rate (BLR) go up.
property prices with many young adults being declared bankrupt due to their inability to repay their debt obligations. Although it remains the legal responsibility of the borrower to repay all his debt obligations, FSPs must demonstrate a higher moral obligation and not just a profit obligation to their shareholders. FSPs should not approve loans to borrowers who cannot demonstrate the ability to repay the loan. The Responsible Finance guidelines call for all FSPs to advice this group of borrowers on how to better manage their finances before applying for a loan instead of just pushing loans and hoping that they will not default.
Under the Responsible Finance guideline, borrowers will also not be penalised heavily for early settlement of their loans. Instead, FSP will only be allowed to charge for the cost incurred in processing the loan and not for profit loss from the early settlement of the loan. HBA’s Response HBA has been advocating this policy to be implemented for a very long time in order for FSPs to exercise prudence and good judgment when disbursing loans. Due to stiff competition and KPI targets set by the Board and Senior Management, FSPs have been too lenient and aggressive in providing financing, resulting in artificially inflated
HBA agrees with BNM that the credit assessment is based on Net Income instead of Gross Income as the Net Income. The Net Income is effectively the take-home pay that represents the income
iProperty.com malaysia | 63 available to the borrower to settle his debt obligations as well as the cost of living. HBA further understands that FSPs have been told to disregard one-off sources of income such as annual discretionary bonus in their assessment of the Borrowers. This is to arrive at a more prudent credit assessment and HBA is supportive of such a move to achieve an orderly growth in the banking sector. It is well known in the market that property speculators have been using ‘Rental Agreements’ as proof of income when taking up multiple mortgages. Notwithstanding the BNM Guideline on a maximum Loan-to-Value (“LTV”) of 70% for the third and subsequent mortgage, it is hoped that an FSP will be more vigilant in accessing dubious income sources by property speculators when applying for multiple mortgages. HBA applauds BNM’s move to stop FSPs from charging excessive fees for early repayment of the loans. It is timely that BNM has saw it fit to finally intervene in the battle of ‘David vs Goliath’. For far too long, borrowers who have managed to set aside enough money to settle their loans early have been penalized by their FSP under the pretext of hidden and dubious clauses in a length of
The Debt Service Ratio (“DSR”) is the Debt Repayment divided by the Borrowers Income. Prior to the Responsible Finance Guidelines, the maximum DSR was set at: (a) 1/3
of Gross Income for single loan repayments; and
(b) 1/2 of Gross Income for all loan repayments combined. However, the exception was given to Civil servants who could borrow from the Cooperatives with a DSR of up to 60% of their Gross Income (twice the margin of financing for single loan repayments).
Loan Agreement filled with numerous legal jargon that is beyond the understanding of a lay borrower. Reintroduce DSR Limits HBA calls for BNM to take additional and stronger measures in order to curb excessive property prices due to irresponsible financing and to better protect the consumer. As per mentioned above, under the Responsible Finance guidelines, FSPs are required to assess the borrower based on his Net Income instead of Gross Income. However, as part of the Responsible Finance guidelines, BNM has withdrawn its recommended guidelines of a maximum Debt Service Ratio. The main reason why BNM has withdrawn the maximum DSR guidelines is because BNM wants the FSP
to exercise good judgment when approving loans and not to over-regulate the market and restrict loans. HBA would prefer guidelines for a maximum DSR limits for the following reasons: (a) To set a cap as guidance for FSPs to follow. Currently the previous guidelines on 1/3 and 1/2 has found many FSPs openly flouting the rules which lead to artificially inflated property prices and many young adults declared bankrupt due to unmanageable debt levels. With the caps removed and FSPs being free to set their own lending policies, the situation of reckless financing may get even worse. Although HBA agrees that market forces are the best form of financial regulation¸ it has been shown that we operate in an imperfect market. Hence, if BNM believes that the removal of the DSR cap is the better way to go, BNM may need better surveillance to punish FSPs who flout the guidelines with irresponsible financing. (b) As general guidance for aspiring borrowers. Prior to the Responsible Finance guidelines, most aspiring borrowers knew about the maximum DSR as it has existed for a fair period of time and well published. Aspiring house buyers could budget for a home within their means by calculating the monthly loan repayments (easily illustrated by various online calculators available at most FSP websites’) and dividing it by their own gross income and if the number is below 1/3, they know that they should qualify. Aspiring house buyers could then proceed to sign the SPA and apply for a home loan. However with the removal of the DSR and the criteria being changed from Gross Income to
64 | HBA
Illustration based on following assumptions: (1) Gross Income = RM3,000 (2) EPF Deduction at 11% of Gross Income (3) No Tax deductions to simplify calculations (4) 1/3 = 33.33% Prior to Responsible Finance Guidelines DSR = 1/3 * Gross Income = 33.33% * RM3,000 = RM1,000 Under Responsible Finance Guidelines DSR = 37.5% * Net Income = 37.45% * (RM3,000 less RM330) = RM1,000 This illustration shows that if FSPs were to merely internally adjust the DSR ratio from 33.33% Gross Income to 37.45% Net Income, the maximum monthly loan repayments would remain the same. Surely BNM’s intention is more than merely cosmetic changes or number crunching. That said, without proper guidance from BNM, this could be the reality of the Responsible Finance Guideline as FSPs fight for market share and it is back to Business As Usual.
Net Income, aspiring house buyers are in a twilight zone. What DSR would FSP be expected to apply as an internal policy? Would it be as simple as just changing the ratio so that the end result is the same as before? So how does responsible financing really work to the benefit of both the borrower and the lender? There are a few Nos that need to be incorporated in our vocabulary. NO to 100% Financing Under the Responsible Finance guidelines, FSPs are required to inform the borrower that the more they borrow, the more they have to repay. Hence, FSPs are required to advice the borrower not to take on too much additional financing and to live within their means. Taking this one-step further, BNM should ask FSPs to stop giving 100% home financing and financing should be capped at 90% of the selling price of the house, thus house buyers
need to fork out at least 10% of the down payment to from their own pocket or EPF savings to start them off on the right footing. With their own savings and EPF contribution, borrowers would be able to pay for the 10% downpayment and afford to pay the monthly loan repayments going forward. Borrowers will also be able to lower their monthly loan repayments and build a safety net in the event of any emergencies. No to Excessive Fees While HBA applauds BNM’s intervention to stop FSPs from charging excessive fees for early settlement of loans, much more needs to be done. FSPs that charge fees (RM20) to borrowers just to produce Statements for EPF withdrawal should cease as: (a) It is the legal right of borrowers to withdraw their EPF contributions to repay the principal loan amount. (b) It costs FSPs ‘next to nothing’ to produce the Statement. Borrowers should not be charged to obtain the EPF Statement, however wastage may be avoided by: (a) Request for EPF Statements once per calendar year (b) Receipt of the EPF Statement after 5-working days with the Statement collected directly at the Branch concerned HBA also urges BNM to look at the issue of excessive fees charged by FSPs to obtain a Redemption Statement for early settlement of Housing Loan or sale of Property undergoing servicing to the FSP. The rate of RM100 is once again excessive when it costs the FSP nothing to produce a Redemption Statement. Fair Allocation of Monthly Payments to Interest and Principal BNM’s recent introduction for credit card guidelines, whereby payments for credit cards is allocated in such a way that it gives priority to items levied with the highest interest, is also expected to result in substantial interest savings for the average credit card holder who cannot afford to fully repay their monthly dues. With this principle in mind, BNM needs to look into the apportionment of monthly loan repayments to cover the interest and principal loan amounts by FSPs. For Hire Purchase Loans and Personal Financing, based on Rule 78, FSPs allocate a higher portion of the monthly loan repayment to cover the interest element.
66 | HBA
Principal Amount (RM)
70,000
Interest
4.00%
Loan Tenure (years)
9
Monthly Repayment
881.48
Amout Outstanding
At At At At At At At At At At
Under Rule 78
Straight Line
% Principal Principal Interest Outstanding
% Principal Principal Interest Outstanding
Beginning of Year end of Year 1 end of Year 2 end of Year 3 end of Year 4 end of Year 5 end of Year 6 end of Year 7 end of Year 8 end of Year 9
70,000 64,688 58,760 52,215 45,054 37,276 28,882 19,871 10,244 -
25,200 19,934 15,284 11,251 7,835 5,035 2,851 1,284 334 -
100% 92% 84% 75% 64% 53% 41% 28% 15% 0%
70,000 62,222 54,444 46,667 38,889 31,111 23,333 15,556 7,778 (0)
25,200 22,400 19,600 16,800 14,000 11,200 8,400 5,600 2,800 -
100% 89% 78% 67% 56% 44% 33% 22% 11% 0%
SA
M PL
E
their HP are often out of money and have to top-up when they wish to early settle their HP / Personal Financing. Although Housing Loans are calculated differently compared to HP, a similar principle applies where a higher portion of the monthly loan repayment is applied to interest during the initial period of the Housing Loan. As a result, a buyer who has paid 4 years out of a 20 year Housing Loan would expect to owe only about 80% of the principal sum, the borrower would owe closer to 90% as this writer personally experienced. Hence, HBA calls for BNM to intervene in order for a more equitable apportionment of interest and principal from the borrowers monthly repayments.
The illustration shows the difference in the principal amount outstanding between Rule 78 and a straight line method that most borrowers expect to owe for early settlement their HP or Personal Financing. At the end of Year-5, a borrower would expect to only owe 44% of his original principal sum under the Straight Line or Equitable Apportionment where monthly repayments are apportioned equally to settle Principal and Interest. However, under Rule 78, where a higher portion is used to offset interest, the borrower still owes 53%. As a result, many borrowers taking longer tenures for
Conclusion In closing, HBA is supportive of BNM measures to curb irresponsible financing and to better protect the consumers. However, HBA urges BNM to take additional measures as highlighted above.
Â
NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi 55100, Kuala Lumpur. Tel: 03-2142 2225 | Fax: 03-22601803 Mobile: 012- 334 5676 Email: info@hba.org.my Web Site: www.hba.org.my
68 | iPROP INSIGHT | FIRST TIME HOME BUYERS
A First Time For Home Buyers While the first cut may be the deepest, at iProperty.com, our job is simple, to make the daunting first property purchase that less confusing and a whole lot more comforting. This is the reason why we have a great line-up for you through the year tackling the various issues that new property buyers will face, stay tuned for the latest from us.
Investing in property is no child’s play. After all, it is not something one does every weekend, or even every year for that matter. It requires careful thought, planning and decision-making. Remember the saying, “the first time is always the hardest”? It rings especially true for property investment. At iProperty.com, we understand the confusion and frustration that almost certainly comes with any property
virgin’s attempt of owning a home, and this series aims to clear the air on the projects and benefits available to the public with regards to home ownership. We realise that not many of you out there are aware of the multiple home-ownership projects available for middle-income earners, especially first-time home buyers, and the cloud of issues related to these properties.
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70 | iPROP INSIGHT | FIRST TIME HOME BUYERS
“PR1MA has already launched two phases of its project, the first one being 560 apartment units in Putrajaya, and the second one being 2200 homes in Labu, Seremban”
RM7,000 total household income to buy property of any kind anywhere, as long as the property price does not fetch above RM400,000. This scheme is only open to employees of the private sector, with a stable job where they have been working for a minimum of 6 months. With the MFH scheme, successful applicants are entitled to a loan of up to 110%, subject to the bank’s undermining policies. Current Rate of Progress
Starting On The Right Track For starters, let us guide you through an overview of Projek Perumahan Rakyat 1Malaysia (PR1MA) and My First Home (MFH) schemes, their requirements and the current ongoing developments with regards to both projects. First of all, it is important to know what PR1MA is. This home-ownership programme introduced by the government is an effort to provide affordable quality homes to the public at the minimum price. Many of you reading this have probably already looked at some houses to invest in, or to start a family in, and may have been turned off by the exclusive prices of property, especially in urban areas. The whole point of PR1MA is to make up for the capital divide by working with renowned private property developers to create affordable quality homes in established townships. It is targeted to those who earn from RM2,000 to RM6,000, who are in need of housing but are not able to afford conventional homes at market rates. PR1MA has already launched two phases of its project, the first one being 560 apartment units in Putrajaya, and the second one being 2,200 homes in Labu, Seremban. Sime Darby Property, one of the private property developers working with the government for this project, has identified several other areas in Subang Jaya, Shah Alam, Klang and Rawang to further create more of these townships. For those not in the know, PR1MA is definitely not a low-cost township project. It aims to sell marketquality property at a price that is below market value. The homes will be in harmony with green practices as they are equipped with state-of-the-art fittings like solar power systems and rainwater harvesting systems. For those who prefer landed property, you will be heartened to know that more than half of PR1MA development is landed. The My First Home (MFH) scheme is the other of the government’s efforts to enable the property empowerment of young professionals. It is an undergoing development that allows Malaysian residents aged 18 to 35 earning not more than
The good response for the Putrajaya phase of PR1MA, with 7,000 applicants for 560 homes, proves that the government and developers roped in for the project are creating homes that are contemporary and stylish, suitable for today’s urban professionals. The differences between the PR1MA and MFH projects are that PR1MA is available for anyone, from the government and private sector, whereas MFH is only available for those from the private
iProperty.com malaysia | 71
sector within a certain age bracket. The common misconception about these projects are that the government will provide loans for applicants, which is untrue as successful applicants will have to seek out their own loan providers and liaise with banks on their own. Another appealing aspect that increases the take-up rate of the projects include the zero downpayment scheme, made available for the MFH scheme, which allows fresh graduates or green thumbs to start on their first property. The freedom to choose and buy one’s own property has always been a rare experience, especially for those just starting out, but with the PR1MA and MFH projects in tow, this opportunity is now enjoyed by all.
Coming Right Up In the upcoming issues, we will look deeper into these two schemes, and speak to related property developers and government officials and agencies, and other related and reliable sources, to share their ideas and input on this issue and further develop your understanding and knowledge of what the government has laid out for the rakyat, in terms of property. As an investment, property has the ability to not only generate wealth for you today but for the future generations. As such, it is important for you, to be educated on your rights and privileges, and to enjoy the benefits of such knowledge. Stay tuned to learn more!
72 | PROF JOE CHOO
Feng Shui vs Cultural Belief - Part iiI When discussing the main misconceptions surrounding feng shui, there is plenty of ground to cover with some of them being correct but not many understanding the scientific reason behind it.
Is there a Dragon? Mountains are often described as dragons in feng shui and it is not surprising to see how an undulating highland resembles a mythical Chinese dragon, with many feng shui practitioners looking for the ‘dragon’ when they evaluate properties. Ideally, the mountains should branch out to form embracing arms which have different lengths, appearing like a thumb and forefinger encircling a flat piece of land from outer space. Embracing arms have the tendency to act as parabolic dish that pools energy in the middle and shield the area from strong winds that dissipate this energy pool. Dragon energy flows non-stop until it hits a medium of different rigidity, like water. Thus, in selecting a favourable location, there must be a body of water present, be it a river or sea. The location and shape of the waterfront has the ability to deflect, reflect, disperse or gather this energy. A meandering river that curves inwards as if embracing the land is considered good and it bears a resemblance to a dragon. Hence, a C-shaped curve is sometimes referred to as a dragon looking back longingly, as it moves towards the sea. In any case, such a landform also suggests a plain and lowlands, for rivers do not meander in the highlands.
“
The number ‘8’ in some Chinese dialects sounds like prosperity and to those who are more superstitious, it has come to denote a ‘prosperous’ life
”
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Will number ‘8’ bring me wealth? Many are obsessed with the number ‘8’ but will avoid the number ‘4’ at all costs but is there logic behind this? We must understand that numbers are used to signify value and is used in calculations. The number ‘8’ in some Chinese dialects sounds like prosperity and to those who are more superstitious, it has come to denote a ‘prosperous’ life, by the same token, the number ‘4’ sounds like death in certain Chinese dialects, leading the superstitious to believe that number 4 denotes bad luck and should be avoided at all costs. However, looking around, we discover that those living in houses with more than one number 4 or drive cars that have more than one number 4 still live good lives. Hence, numbers are for nothing more than counting purposes. In fact, lately there is an anti-number ‘2’ movement which in Mandarin sounds like hungry, however if the numbers 2 and 4 are not good, what shall we replace them with? Should I ask the feng shui master for measurement of items like main entrance, table height and others? In feng shui, the emphasis is on the positioning of the main entrance, master bedroom and kitchen(门主灶). The main entrance is calibrated according to the gua number of the master of the house, and the reference point of the master bedroom and kitchen is the gua number of the lady of the house. After this, the placement of the furnishings come into the picture and these can be as detailed as the measurement of the items. However, do we have to follow this? Take for example, the main entrance, if the measurement is given to the contractor and the contractor gets the job done by telling the foreign workers about the measurement given, which they then complete without the considering when the cement is wet or dry. The difference of the measurement may be as much as 1 inch, which is quite significant. Then, when it comes
to putting up the wooden door; again it is done by foreign labour, it could cause a 2-inch difference which doesn’t serve the original purpose anymore. There are many more cultural beliefs linked to feng shui which has led to some feng shui practitioners selling display ornaments such as peacock feathers, wind chimes, ‘pi-xiu’ (dragon-like figurines) and others. However, as educated people, we need to analyse the situation intelligently with those engaging feng shui masters to calibrate properties having the right to ask for the reason behind it. While feng shui, if practiced accurately, can improve your life it certainly cannot change your life. In a nutshell, we may believe in feng shui but our life is not dictated by it.
Prof Joe Choo was elected the President of the Malaysian Institute of Geomancy Sciences (“MINGS”) in 2008, a post which she currently holds. She was recently awarded a professorship by the Shanghai Jiao Tong University in China. She acts as consultant to various development projects and is frequently invited as speaker at many government and private property functions. Joe also conducts classes for the Persatuan Architect Malaysia (“PAM”) and the Malaysian Institute of Estate Agents (“MIEA”).
74 | SSF CREATIVE LIFE CENTRE
Coming Home For The My son , e you cam ng since o l ing so m o n c e ou be y It has be ll i w visit us, ? Hope home to New Year se e n i h sC is year. back thi it back th e k a m n you ca
New Year As the Year of the Dragon beckons, let your presence and presents bring joy to those you love. Bringing presents home for your loved ones is made easier at SSF Creative Life Centre, 191-1, 191-2 and 191-3, Wisma CKE, Jalan Lancang off Jalan Cheras, 55100, KL. Call SSF’s Hotline: (603)-6140 2020 or log on to www.SSFHOME.com for more of their collections.
Love , Mum
1. 3.
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CLOCKWISE FROM TOP LEFT: 1. Jade Dragon Tassels, RM14.80 per unit; 2. Dragon Baby Plushies, RM6.80 each; 3. God of Prosperity whirligig, RM3 each; 4. Tiffin carrier and Peach blossom tidbits server, RM39.80 and RM29.80 respectively; 5. Children’s Music Set, RM19.80 per set; 6. CNY Tissue Box Covers, RM26 each; 7. Traditional Chinese Calendar, RM10 each; 8. Prosperous Boy & Girl Coin Box (available in 2 sizes), RM10.80 (small), RM15.80 (big).
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6. De ar M um , I ca nno this tw ait Ne so to ma w Ye com a ny wo eh thin r. The uld om wit g l s th re ar e h y ike to e a ou. t sha I r e Lov Son e,
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iProperty.com malaysia | 75
Homecoming‌ all about bringing back the best presents
76 | NIPPON PAINT
Elegant
Mastering Michelangelo with Momento™ Ever dreamed of painting your own walls with a paint that could somehow translate into works of art? Well, wonder no more with Nippon Paint’s new series of Momento™ Wallpaper Paint that makes every stroke a master stroke.
Sparkle Gold Henry Ward Beecher, the late US cleric once said, “Every artist dips his brush in his own soul, and paints his own nature into his pictures”. With Momento™ from Nippon Paint, this is exactly what you get to do with every brush stroke imparting a rich, Italian-inspired texture to your walls. Like Michelangelo, it is like painting your own life story to the canvas of your home.
Sparkle Silver
Instead of just depending on wallpaper to provide texture to walls, Momento™ is a special effects decorative paint that brings a sheen of elegance to the interiors. With 174 colours to choose from, Momento™ is available in four variants, namely Elegant, Sparkle Gold, Sparkle Silver and Sparkle Pearl, each leveraging on a unique and vast spectrum of texture, light reflection and full-bodied tones that are applied as your creativity and skill allow. It is truly an individualistic work of art that allows you to capture the emotions and experience of living in the perfect ambience you have always desired. Safe & Secure Every Day Luxury
Sparkle Pearl
A truly inspiring wall treatment, Momento™ not only imparts the Italian-standard of beauty to walls, it also provides better indoor air quality (IAQ) with its low odour and low VOC formulation that keeps the metallic sheen but not the heavy metals such as lead, mercury and chrome among others, in the air. Families with children will rejoice in the low maintenance of this high textured paint as minor dirt stains can be just cleaned by wiping it off with a wet cloth and application of Momento™ can be done by yourself for even more lasting memories. It is finally time to masterfully create your own Michelangelo.
“Every artist dips his brush in his own soul, and paints his own nature into his pictures” Henry Ward Beecher Late US cleric
* All colours shown are as close to the actual Nippon Paint colours as modern printing techniques permit. * Colour appearance / finishing will vary according to amount of coats, style of stroke applied and individual painting methods.
iProperty.com malaysia | 77
Every Wall Is A Work Of Art
Creating your own masterpiece with Momento™ is as easy as applying two coats of Momento™ primer and by one Momento™ top coat for the sheen you’ve always loved, which is both long-lasting and durable.
Step 1
Step 2
Apply 2 coats of Momento Primer onto surface.
TM
Paint 1 coat of Momento Top Coat.
TM
Step 3
Step 4
Use criss-crossed strokes for desired effect.
After 10 - 15 minutes, use a spatula to smooth over the semi-dried coat.
78 | BRIT FURNITURE DESIGN
Vintage British Design Beating out the competition with White Beat Lamps and fanning the flames of interest with the iconic Fan Chair is Tom Dixon’s latest updates which place the Brits back in the running for fabulous design.
Old School Sophistication
Fanning Vintage Flair When considering a classic vintage design that is truly British in nature, Tom Dixon turned to the classic Windsor chair (circa 16th century) for inspiration. The dramatic fan chair not only stands out for its silhouette but involves the time-honoured method of steam-bending which imparts a fluidity to an otherwise rigid material. The spindles of wood, which are turned and thinned complete the elegant silhouette of the fan chair.
Knowing which materials to pick can channel both sophistication and class without seeming to try too hard. Which is why old school materials like copper, spun and polished before lacquering not only seals in the warmth of a pendant lamp’s glow but provide a dignified polish to interiors as well. With Beat Lamps making its debut earlier on last year, the white lacquerwork of the lamps give it an added versatility for interiors as the various shapes work to bring dimension to the ceililng line of the interior.
80 | HOMES SERVICES | DIRECTORY LISTINGS
Custom Furniture Alen Corp Asia Tel: 6013-388 1967
Chin Li Arts & Crafts Furniture Tel: 603-7728 1000
NU-VALE Trading Sdn Bhd Tel: 603-7984 9425
Home Security Falcon Tel: 603-3392 4848 Tel: 012-3117977
Feng Shui Compass Studio 212 Sdn Bhd Tel: 603-7885 8280 Web: www.studio-2-1-2.com
ADT (M) Sdn Bhd Tel: 603-9236 1866
CCTV Security Sensorlink Sdn Bhd Tel: 603-7983 7270
Artset Design Sdn Bhd Tel: 603-6156 3768 Tel: 016-2060198 Guocera Marketing Sdn Bhd Tel: 603-7958 7611 ( Ext 300/231)
AntiPest Management Services Sdn Bhd Tel: 603-8023 1888
KDK Fans (M) Sdn Bhd Tel: 603-7785 5011 Tel: 012-3672333
Roofing Monier Sdn Bhd Tel: 603-2176 0600
Interior Design
Serviced Office
82 | HOMES SERVICES | CLASSIFIED
We provide One-stop renovation package & services in overseeing your house or office renovation from the very start till the end, all customized to your needs, saving you of any hassle or worry: ~Interior Design ~Lighting ~Furniture ~Home Appliances ~Curtain
~Painting ~Cleaning Services ~Any special request by client ~Potential tenants search
Deco More Studio Sdn Bhd
Custom Furniture
Interior Design & Build Consultant
Fax: 603-6201 9900 | Email: decomorestudio@yahoo.com
Your One Stop “Made-To-Order” Centre for Quality BURMESE TEAK, MERBAU, NYATUH, WALNUT, ELM & ROSEWOOD furniture We carry wide range of: Craft & Antique Furniture Porcelain Wares Assorted Knick-Knacks No 5, Jln Tun Mohd Fuad Tiga, Taman Tun Dr Ismail, Damansara, 60000 Kuala Lumpur, Malaysia Tel: 03-7728 1000 / 03-7728 4692 | Fax: 03-7728 4692 | HP: 012-322 6103 | Email: chinwliu@yahoo.com
POOLCARE SDN BHD Pool Care
20-3, Jalan 22B/70A, Plaza Crystalville 2, Desa Sri Hartamas, 50480 Kuala Lumpur Tel: 6012-345 2011 ( Project Manager ) 603-6201 3332 ( General Line )
(738780V)
No. 52A-2, Jalan PJU 5/21/ The Strand, Kota Damansara, 47810 Petaling Jaya, Selangor Darul Ehsan. 603-6142 2280 | 016-227 2016 | www.poolcare.com.my
One Stop Pool Services Our Services Include: ~ Swimming pool & water features maintenance. ~ Pool rectification works. ~ Supplies pool equipments & fittings.
84 | TOWNSHIP DIRECTORY
Alisma Dynasty View Sdn Bhd Seri Austin, Johor Double storey Terrace/Link House
Developed by UMLand Berhad’s wholly-owned subsidiary Dynasty View Sdn Bhd, Taman Seri Austin in Johor occupies 500-acres of prime freehold land that is situated within Iskandar Malaysia and the popular Tebrau Area. Taman Seri Austin boasts excellent accessibility via the NorthSouth Expressway, Dato’Onn Interchange, Pasir Gudang Highway and Tebrau-Kota Tinggi Highway. Currently, it only takes a 30-minute drive to get to the Johor Bahru city centre but this travel time would be cut short by half when the RM977 million Eastern Dispersal Link Expressway (EDL) is completed. Currently, Dynasty View has three ongoing projects in Taman Seri Austin namely Amanda, Alisma and Azolla which are gated and guarded residential projects. Launched in April 2010, prices of Alisma houses start from RM306,800 and it is anticipated to be completed in February 2012. The project consists of 180 units, comprising Section 1 (44 units), Section 2 (60 units) and Section 3 (76 units). The 20’ x 70’ double storey terrace houses, Alisma 1 & Alisma 2, come with comfortable built-up of 1,782 sq ft and 1,889 sq ft respectively. Also recently launched are 32 units of Azolla 1 22’ X 75’ double storey terrace houses with built up of 2,028 sq ft price from RM338,800. Early birds get special package with huge savings. Both Alisma and Azolla are properties located at Phase 3 development equipped with Telekom Malaysia (TM)’s latest High Speed Broadband (HSBB) UniFi service Package VIP 5 which includes internet, video (IPTV), and voice with speed of 5Mbps via fiber technology. As a value promotion, all home buyers at Phase 3 will enjoy 2 years free service of HSBB. Taman Seri Austin is the first residential township in Southern Johor to collaborate with TM in offering HSBB.
Further Information: Seri Austin Sales Gallery Jalan Seri Austin 1, Taman Seri Austin, Johor Bahru, 81100 Johor. Tel: (607) 354 1111 Fax: (607) 351 3202 Email: dvsb@umland.com.my Web: www.umland.com.my www.facebook.com/seriaustin
Bandar Seri Putra Bangi Heights Development Sdn Bhd Bangi, Selangor A mixed development of residential and commercial properties
Legundi Residensi (1), in Bandar Seri Putra is now open for sale. With two entry and exit points, Legundi Residensi (1) offers better security and peace of mind. Choose from the 52 double-storey cluster homes or the 12 double storey semi-ds in 4 contemporary practical designs. The township is directly accessible from Kuala Lumpur-Seremban Highway via the Putra-Mahkota Interchange and is surrounded by developments such as Bukit Mahkota, Impian Putra, Bandar Baru Bangi, Desaria Nilai, Bukit Unggul and Bandar Baru Nilai. Bandar Seri Putra is a self-contained township catering to the living, recreation and business needs of the modern and knowledgeable community. The 898-acre freehold development enjoys excellent accessibility, with a wide range of amenities and facilities within the vicinity. It is approximately 20 minutes by road southeast of Kuala Lumpur, 15 minutes north to Seremban town, 15 minutes from Kuala Lumpur International Airport (KLIA) and 2 minutes to the Bangi (Lama) township. Being close to the Federal Territory of Putrajaya and the MSC, and adjacent to the education hub – comprising Bandar Baru Bangi and Bandar Baru Nilai which encompasses tertiary educational institutions such as UPM, UKM, UNITEN, Inti UniCollege and KUIS – Bandar Seri Putra is a much sought after address among civil servants, professionals and the intellectual community in the Southern Klang Valley. Its range of residential and commercial properties are infused with modern lifestyle features such as underground external electrical and telecommunication services facilities. Extensively landscaped to provide a green environment, Bandar Seri Putra emphasizes on wholesome, healthy living. Interested buyers may select from a wide range of properties including bungalow lots, bungalows, semi-Ds, double-storey terrace homes, townhouses, lowrise and high-rise apartments, as well as commercial shop offices. For further details, kindly call (603) 8927 1611 or send an email to salesbh@umland.com.my
Further Information: 34, Jln Seri Putra 1/2, Bandar Seri Putra, Bangi 43000 Selangor Tel: (603) 8927 1611 / (603) 8925 4972 Email: salesbh@umland.com.my Web: www.umland.com.my
86 | iLuxury
Nadayu28 Bandar Sunway Residences
Acappella Residences
Location: Bandar Sunway, Petaling Jaya, Selangor Property Type: Condominium Land Title: Residential Tenure: Leasehold Built Up: 990 - 1,850 sq ft Listing Price: From RM702,000 - RM1,360,000 Developer: Jurus Positif Sdn Bhd (633933-V) Phone: (603) 2141 5775 Fax: (603) 2141 5776 Website: www.nadayu28.com
Location: Seksyen 13, Shah Alam, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Leasehold Built Up: 938 - 1,616 sq ft Listing Price: From RM331,500 - RM1,920,300 Completion Date: Dec 2013 (Expected) Developer: Equipark Sdn Bhd (390025-U) Phone: (6012) 702 9788 Fax: (603) 5511 8188 Website: www.acappella.com.my
Laman Ceylon
St. John Woods Residence
Location: Jalan Ceylon, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Built Up: 624 - 1,604 sq ft Listing Price: From RM701,800 - RM1,890,000 Completion Date: End 2014 (Expected) Developer: Eminent Ace Sdn Bhd (341126-T) Phone: (603) 7806 3138 Fax: (603) 7806 3238
Location: Persiaran Raja Chulan (Bukit Ceylon), Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Leasehold Built Up: 3,660 sq ft - 8,848 sq ft Listing Price: From RM2,829,000 Completion Date: June 2014 (Expected) Developer: Affinity Heights Sdn Bhd (315930-A) Phone: (603) 2072 3838 Fax: (603) 2078 6868 Website: www.stjohnwoods.com
88 | iLuxury
Icon Residence
Ampersand @ Kia Peng
Location: Mont Kiara, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.57 Acre Built Up: 887 - 4,716 sq ft Listing Price: From RM1,200,000 Completion Date: 3 Years from SPA Date (Expected) Developer: Maxim Heights Sdn Bhd (747466-P) (A subsidiary of Mah Sing Group Berhad) Phone: (603) 6205 9888 Fax: (603) 6205 9999 Website: www.icon-residence.com.my
Location: 25, Jalan Kia Peng, Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Leasehold Land Area: 2 Acres Built Up: 2,613 sq ft - 5,831 sq ft Listing Price:From RM3,136,800 - RM7,237,800 Developer: Aqua Aspect Sdn Bhd Phone:(603) 2145 8000 Fax: (603) 7952 9091 Website: www.ijmland.com
Mirage Residence
Alvarez @ Laman Granview
Location: KLCC, City Centre, Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Freehold Built Up: 850 sq ft Developer: Perspektif Vista Sdn Bhd Phone: (603) 2161 3322 Fax: (603) 2175 3216 Website: www.mirageresidence.com.my Open for Registration
Location: Puchong, Selangor Property Type: Bungalow House Land Title: Residential Tenure: Leasehold Land Area: 47' X 85' Estimated Built Up: 5300 sq ft Listing Price: From RM3,300,000 Developer: IJM Properties Sdn Bhd Phone: (603) 8027 6188 Fax: (603) 7952 9091 Website: www.ijmland.com
90 | KLANG VALLEY CONDOMINIUM
NC Project Name: Altitude 236 @ Bukit Manda'rina Location: Cheras, Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Leasehold Built Up: 1,389 - 2,820 sq ft Listing Price: From RM642,000 Completion Date: Oct 2014 (Expected) Developer: Manda'rina Sdn Bhd Phone: (603) 9100 2020 Fax: (603) 9100 4476
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NC Project Name: Sunway Vivaldi Location: Mont Kiara, Kuala Lumpur Property Type: Duplex Condominium Land Title: Residential Tenure: Freehold Land Area: 7.7 Acres Built Up: 2,573 - 3,983 sq ft Listing Price: From RM2,300,000 Developer: Sunway D'Mont Kiara Sdn Bhd (559638-V) Phone: (603) 6203 0888 Fax: (603) 5639 9955 Website: www.sunwayvivaldi.com
Project Name: Azelia Residence, Damansara Avenue Location: Sri Damansara, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 3.13 Acres Built Up: 614 - 3,433 sq ft Listing Price: From RM351,000 - RM2,771,600 Completion Date: May 2014 (Expected) Developer: TA Global Berhad (828855-P) Phone: 1800 88 8082 Fax: (603) 6275 7211 Website: www.taglobal.com.my
Project Name: Gardenz@One South Location: Persiaran Serdang Perdana, Seri Kembangan, Selangor Property Type: Serviced Apartment Land Title: Commercial Tenure: Leasehold Built Up: 1,020 - 1,220 sq ft Listing Price: From RM380,000 - RM520,000 Completion Date: October 2014 (Expected) Developer: Prop Park Sdn Bhd (70874-H) Phone: (012) 2838 733 Website: www.huayang.com.my
NC
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94 | KLANG VALLEY LANDED
Project Name: Terra Location: Precinct 11, Putrajaya Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 1,650 - 3,421 sq ft Built Up: 2,337 - 2,519 sq ft Listing Price: From RM 606,888 - RM 811,356 Completion Date: September 2013 (Expected) Developer: Putrajaya Homes Sdn Bhd (427599-X) Phone: (603) 8888 6633 Fax: (603) 8889 5169 Website: www.pjh.com.my
NC
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NC Project Name: Areca Residence Location: Laman Rimbunan, Kepong, Kuala Lumpur Property Type: Semi-detached House Land Title: Residential Tenure: Leasehold Built Up: 3,372 sq ft Listing Price: From RM1,760,800 - RM2,365,800 Completion Date: 2012 (Expected) Developer: Rimbunan Melati Sdn Bhd (304034-U) Phone: (603) 6257 1968 / (603) 6257 8968 Fax: (603) 6257 8968
NC Project Name: Aquina - Phase 1E Location: TTDI Alam Impian, Shah Alam, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Built-up: From 2,476 sq ft Listing Price: From RM606,000 - RM1,497,000 Completion Date: 2013 (Expected) Developer: TTDI Land Sdn Bhd Phone: (012) 5266 551 / (603) 5101 5600 Fax: (603) 5511 1990 Website: www.nazattdi.com
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NC Project Name: Seri Wirani 8 Location: Bandar Baru Bangi, Bangi, Selangor Property Type: 2.5-sty Terrace/Link House Land Title: Residential Tenure: Leasehold Built Up: 2,755 sq ft Listing Price: From RM595,248 - RM817,632 Developer: Jeram Perwira Sdn Bhd (504400-V) Phone: (603) 5629 2600 Fax: (603) 5637 9370 Website: www.prinsiptek.com
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96 | KLANG VALLEY MIXTURE
Project Name: Calisa Residences Location: Puchong, Selangor Property Type: Serviced Residence Tenure: Leasehold Built Up: 775 - 1,055 sq ft Listing Price: From RM221,760 - RM366,960 Developer: Masteron Sdn Bhd (79429H) Phone: (603) 8068 1977 / (603) 8060 1121 Fax: (603) 8060 0666
NC
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NC Project Name: The Park @ Bukit Serdang Location: Selangor Property Type: Semi-detached House Tenure: Freehold Land Area: 40’ X 80’ Built-Up: 4,520 sq ft – 5,008 sq ft Developer: Nurani Gemilang Sdn Bhd (653966-W) Exclusive Marketing Agent: Twins Realty Phone: (603) 4022 5168 H/P: (016) 213 2163 Website: www.binastra.com.my
NC Project Name: Sunway Velocity-Service Residence Location: Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 22 Acres Listing Price: From RM800,000 - RM2,653,000 Developer: Sunway City Berhad (Velocity) (87564-X) Phone: (603) 9205 5500 / (603) 5639 9000 Fax: (603) 5639 9955 Website: www.sunwayvelocity.com
Project Name: Sunway Eastwood Location: Seri Kembangan, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Leasehold Land Area: 3,200 sq ft Built Up: 3,321 - 3,972 sq ft Listing Price: From RM1,650,000 - RM2,290,000 Total Units/Lots: 118 Bumi Discount: 7% Completion Date: Dec 2014 (Expected) Developer: Sunway Eastwood Sdn. Bhd. Phone: (1800) 222 988
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98 | KLANG VALLEY COMMERCIAL
Project Name: Sunway Surian Avenue Location: Dataran Sunway, Kota Damansara, Petaling Jaya, Selangor Property Type: 2 Storey Shop Office Land Title: Commercial Built Up: 7,950 sq ft Listing Price: RM5,493,000 Status: Completed With CF Developer: Sunway Damansara Sdn Bhd (179182-V) Phone: (603) 6141 6888 Fax: (603) 5639 9955 Website: www.sunwayproperty.com Last Corner Unit For Sale
NC
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NC Project Name: Arc 10 Location: Bandar Puchong Utama, Puchong, Selangor Property Type: 3 Storey Designer Factories Land Title: Industrial Tenure: Freehold Built Up: 8,606 sq ft Listing Price: From RM4,900,000 - RM5,400,000 Developer: Bukit Hitam Development Sdn Bhd (203394-W) Phone: (1300) 88 3888 / (603) 8068 3388 Fax: (603) 8068 1311 Website: www.bukitpuchong.com.my
Project Name: Dua Sentral Location: Jalan Tun Sambanthan, KL Sentral, Kuala Lumpur Property Type: Hotel/Resort Land Title: Commercial Tenure: Freehold Built Up: 872 - 6,352 sq ft Listing Price: From RM706,800 - RM5,300,000 Completion Date: End 2011 (Expected) Developer: Magic Coast Sdn Bhd (709379-M) Phone: (603) 2282 7297 / (603) 2282 7295 Fax: (603) 2282 7286 Email: www.duasentral.com
Project Name: Lake 6 Entrepreneurs' Park Corporate Factories Location: Taman Meranti Jaya, Puchong, Selangor Property Type: Factory Land Title: Commercial Tenure: Leasehold Built Up: 5,465 - 9,600 sq ft Listing Price: From RM2,598,000 - RM4,560,300 Completion Date: 3rd Quarter 2014 (Expected) Developer: Mitraland Puchong Sdn Bhd (433421-X) (Formerly known as Firasat Bijak Sdn Bhd)
Phone: (603) 6204 0818 Fax: (603) 6204 0868
NC
NC
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100 | OUTSIDE KLANG VALLEY MIXTURE
Project Name: D’Ambience Residence Serviced Apartments Location: Bandar Baru Permas Jaya, Johor Bahru, Johor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 10.4 Acres Built Up: 513 - 1,414 sq ft Listing Price: From RM192,800 - RM458,800 Completion Date: 2014 (Expected) Developer: Ikatan Flora Sdn Bhd
NC
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(IJM Land Berhad) (649603-A)
Phone: (607) 388 9333 Fax: (607) 386 6066 Website: www.ijmland.com
NC
Project Name: Meru Valley 2 Storey & 2 1/2 Storey Detached Homes Location: Meru Valley Resort, Ipoh, Perak Property Type: Bungalow House Land Title: Residential Tenure: Leasehold Land Area: 6,490 - 8,051 sq ft Built Up: 3,410 - 3,830 sq ft Listing Price: From RM1,019,800 - RM1,175,800 Completion Date: November 2013 (Expected) Developer: Meru Valley Resort Berhad (137970-D) Phone: (605) 292 1333 Fax: (605) 291 7333 Website: www.meruvalley.com.my
NC
Project Name: Taman Lavender Location: Kuala Kangsar, Perak Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 20' x 70' Built Up: 1,620 - 1,858 sq ft Listing Price: From RM238,888 - RM358,888 Total Units/Lots: 39 Completion Date: December 2012 (Expected) Developer: Noble Homes Sdn Bhd (209834-A) Phone: (605) 249 8621 Fax: (605) 249 8623
NC
Project Name: Nilai Springs Heights Location: Putra Nilai, Nilai, Negeri Sembilan Property Type: 2.5-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 26' x 85' Built Up: 3,439 sq ft Listing Price: From RM738,000 Developer: BBN Development Sdn Bhd (227643-K) Phone: (606) 850 1888 Fax: (606) 850 1818 Website: www.bbndev.com.my Fre e h o l d | Ga t e d
Fre e h o l d | Ga t e d
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102 | TALK POINT | ACESCUBE
01
Tackling End-Financing Through BLR Management
Property ownership goes hand-in-hand with end-financing, particularly those who take up home loans as a means to finance their purchases. This begs the question: how much of the principal are you tackling with your monthly repayments? We ask Kevin Cheong, Founder and Managing Director of AceScube, this and a whole host of relevant questions in handling financing and their specialty, BLR Management.
If you own a home or are planning to own one, it is highly likely that you have carefully planned the end-financing part of the equation to the finest minutiae. However, the best laid plans may run aground without due consideration to the fluctuating Base Lending Rate or BLR. For certain types of home financing loans, prudent financial management includes managing the BLR and this is where AceScube, founded by Kevin Cheong and his partner, Danica Cheong, who is the Operations Director, alongside with Macy Chin, the HR and Admin Director, come in. Kevin, who graduated with a B.Sc in Computer Engineering in 1990 switched fields in 1996 and joined PESAKA Capital, an investment advisory and consultation firm, where he picked up banking practise. In the early 2000s, when he shifted his goals toward the real estate industry, Cheong started up research and development for BLR management and in 2008, AceScube became a reality.
What is BLR Management About? BLR, which is a guideline on the interest rates for the banking sector is set by Bank Negara Malaysia (BNM) and is applied to credit facilities such as loans by lenders (with a usual margin of either -2% to +2% effective rate to the BLR), directly affecting the interest rate per annum paid by borrowers. As per announced by BNM in Q3 2011, BLR is on an uptrend, with rates set to rise in the coming year between 1-2%. “The fluctuating BLR will definitely see an uptrend in the coming year, so the possibility of borrowers being affected is very high.” Cheong cautioned, adding that with AceScube’s Slash Interest Methodology (SIM), loan payees need not worry themselves as it is now possible to save on the loan’s tenure between 30% to 75%. The following table gives an example of how a BLR increase of 1% to 2% can affect the monthly payable interest of borrowers:
Loan Amount
Interest Payable 4.20%
Interest Payable 5.20%
Interest Payable 6.20%
RM 500,000
RM 1750
RM 2166
RM 2583
RM 800,000
RM 2800
RM 3466
RM 4133
**Original Interest Rate: BLR -2.40 (Current BLR at 6.60%)
iProperty.com malaysia | 103 Cheong said that the table above is the best example of showing how BLR increase can affect the interest being paid per month. If the current BLR rate provided by the lender is 4.20%, borrowers pay RM1,750 every month in interest. However, if BLR increases by 1%, the monthly interest rises by 23.8% while an increase of 2% in BLR sees a whopping 47.6% increase in monthly interest. This will surely be an added burden to household debt should the BLR increase. Seeing this, AceScube was formed to help property buyers manage the impact of BLR rate fluctuation through their Slash Interest Methodology (SIM). SIM puts calculated risk to good use, with its 99% accurate method to do a verification of their finances. What they do is simply the optimisation of your money by managing the accurate date and payment amount to control both interest and principal paid back to lenders at the same time managing the BLR. This helps all parties concerned as lenders negate non-performing loans by having manageable and on-track servicing of loans, property buyers benefit
from the shorter repayment period, thus saving capital for further investment and developers benefit from purchasers’ freed up capital for higher take-up rates of projects. Different Folks, Different Strokes AceScube provides three modes of the Slash Interest Methodology (SIM), namely SIM 30, SIM 50 and SIM 75 which suit different needs depending on the percentage of loan amount saved. The basic tenet remains the same, to increase liquidity or cash flow for those who approach him. The following table shows the difference between the original loan tenures and loan tenures after following the SIM 30, SIM 50 and SIM 75 systems: When asked if either paying extra monthly or paying a lump sum would help to reduce loan tenure, while keeping the loan interest in check, Cheong held that it is a common myth as paying extra monthly will not do much for the borrowers.
Loan Type / Loan Range
Original
After SIM 30
After SIM 50
After SIM 75
Tenure By Year
30
21
15
7.5
Tenure By Months
360
252
180
90
No. Of Months Saved
0
108
180
270
02
01 (L-R) Kevin Cheong and Jeffrey Lam showing their policy for success 02 Discussing a case together 03 Going through details is a very important ascpect of what AceScube does
104 | TALK POINT | ACESCUBE
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iProperty.com malaysia | 105
“Dumping in a lump sum is never advisable. In fact, paying the extra only works until the BLR fluctuates. Let’s look at an example of investing in a lump sum payment.” As below, the lump sum makes a small difference in reduction of monthly interest. When the BLR increases by a mere 0.25%, the monthly interest will revert to the original, making the lump sum invested seem to totally “disappear.”
Loan Amt
Original 6% pa loan interest
Lump Sum
We have seen what happens when BLR increases but in the event that BLR decreases, Cheong pointed out that there is no need for borrowers to reduce the monthly amount. Saying that it’s a “profit gain for the buyer,” Cheong mentioned that with AceScube’s calculated amount, it will tackle the principal amount and reduce the loan tenure even further. This is the advantage of using BLR Management instead of mortgage reduction.
Reducing
After Lump Sum Loan Interest Interest
BLR Increase of 0.25% Loan Interest
O/B
Yearly Monthly
Payment
O/B
Yearly Monthly
Savings
Yearly
RM 500,000
RM 30,000 RM 2,500
RM 20,000
RM 480,000
RM 28,000 RM2,400
RM 100
RM 30,000 RM 2,500
Entering Mid-Stream or at the Beginning With a 99% accuracy of AceScube’s system, Kevin showed us a few examples of the clients they have on hand which due to BAFIA, would remain a confidential matter between them and their clients. From such case studies, we could see that AceScube’s calculations did not burden the property buyers, yet their clients have all managed to shave off 30%, 50% or 75% of their loan tenure. While lenders have always prescribed a certain fixed amount to pay for a monthly instalment, many pay willingly without really finding out if the sum that they pay adequately reduces their outstanding balance. This is why when we asked Kevin if there would be any problems or if borrowers need to inform the lenders of their intention to change the prescribed payment, he mentioned that it is a client’s right, as per Bank Negara’s charter, to seek professional help when it comes to getting a professional verification. This is the reason why AceScube, as professionals are paid to optimise their client’s money by calculating the optimum amount to pay per month. When it came to first time home buyers, Cheong has mentioned that as lenders will be looking at the net income for loan approval from January onwards and while shorter loan tenure has not been offered from the lenders for ages, generally, the shorter the loan tenure, the better the cash flow is for the client. “For a regular 30 year loan, SIM 30 provides 9 years of savings, after the loan tenure is reduced to 21
Monthly
years. If it’s a rented property, the owner would have enjoyed extra 108 months of net rental income without have to pay their lenders anymore. If one month the rental is RM1000, the owner will have extra RM108,000,” he claimed, adding that their system provides free upgrades from SIM 30 to SIM 50, which offers better surplus. Part and Parcel of Property Sale Cheong mentioned that although in Malaysia the service is considered new, in other developed countries like Singapore, it is an essential part of a home-owner’s package. He compared BLR management to the discounts given by the developers, and said that while discounts are highly valued, they are but a one-off shot in the arm, whereas BLR management is a long-term service that benefits borrowers in the long run, and developers too. Cheong expressed AceScube’s interest to work with corporations and to tie their service down as a package with developers, as he noticed that a lot of people are having problems obtaining and maintaining loans. “With the current rate of property appreciation and longer loan tenures, our services will definitely come in handy for those who need help in BLR management. Time is of the essence now.” For more details, an email to info@acescube.com.my will clear up any lingering doubts about BLR Management.
106 | CHAN AI CHENG
2012
The Year The World Ends
Mayan calculations and popular culture hype aside, could 2012 really see the end of the world as we know it in terms of overall economic growth that drive the take-up rates for property market offerings? We checked with Mah Sing’s Group Managing Director cum CEO, Tan Sri Dato’ Sri Leong Hoy Kum, for his views on what lies ahead in 2012.
Burst My Bubble
As the clock ticks down to 2012, and talks of uncertainty in the property market swirl around, we huddled around to talk about what lies ahead. Tan Sri Dato Sri’ Leong Hoy Kum, at the helm of Mah Sing Group gave us a breakdown of what lies ahead.
As for the popular saying that there is a property market bubble building that will burst this year, Tan Sri’s sentiments were echoed by the rest in the market. “In the first place, we do not believe there is a property bubble as price increases over the past few years have been selective and only in good locations where demand outstripped supply.”
General Market Outlook According to Tan Sri, the general outlook of the market remains cautiously optimistic as property demand in Malaysia is fueled mainly by two factors: job security and market sentiments. For Malaysia, having a growing population with a predominant young population base (between the ages of 18-65), have both new household formation and high saving rates that continue driving the demand for properties. Furthermore, property is viewed as s good hedge against inflation. In terms of job security, the unemployment rate is still very low, at 3% p.a. while the projected Gross Domestic Product (GDP) for Malaysia remains positive with a minimum of 5% achieved for 2011 while a 5-6% for this year is projected. As the property market in Malaysia is mainly driven by domestic consumption, and for Mah Sing with most of their buyer base made of locals who buy for own residential
There is only one real rule in property purchase, and it would be location. This is the real reason why instead of generalizing, Tan Sri’s recommendation to look at the individual segments of the property market as a better gauge as to whether there is a property bubble forming or reaching bursting point soon. purposes and for investment (not speculation), there will be a continued demand for these products. These are the serious buyers who enter the property market looking for good locations and concepts by renowned developers. It has to be said that the general sentiment is dependent on a couple of factors, one being the impending general elections and its outcome. While there are no announcements yet, there will always be a pre- and postelection uncertainty that impact property sales.
“In the below RM 1 million market, property offerings should do well as demand will be maintained at the same momentum for products above RM 1 million in good locations. In fact, continued demand for landed residential units in good locations, especially those in gated and guarded schemes proves that there is no real slowdown in the market.” “As for smaller units of serviced apartments which are both affordable and meets the buyer’s needs will still be in demand. Meanwhile, commercial
iProperty.com malaysia | 107
products such as SoHo and SoVo continue to be popular thanks to the affordable price points and lack of supply in selected locations especially in integrated development projects.” Whither the Real Price of Real Estate? Concerns over the escalating property prices have been a long standing issue for most purchasers that are related to market sentiment and confidence. However, as Tan Sri mentions, land is a scarcity and construction costs will rise over time, albeit in manageable doses. Hence, it is inevitable that properties in good locations will continue to appreciate as astute buyers would want to lock in their investments at today’s prices before it rises tomorrow. In fact, from my personal observation, the developer bears a heavy cost to hold onto a completed project. While 2011 was deemed to be a soft market, the takeup rate for properties launched in established locations with good packages, like those with DIBS or low down payments, all experienced brisk sales. When it comes to the pricing of properties, market forces are still the best gauge. For example, in Bandar Utama, a 2-storey terrace house that cost RM700,000-RM800,000 in 2010 would easily cost RM1million – RM1.1million while a renovated intermediate unit could easily go for RM1.3million. Real estate agents specializing in this area
would never have imagined it hitting the RM1million mark just three years ago, but market demand dictates the terms at the end of the day. As developers have their finger on the pulse of a certain area, matching market demand to the operational costs of land and construction costs are among one of the specialties of their trade. Hence, when it comes to pricing, most developers have made it easier on the public by coming up with creative packaging to make home ownership as easy and hassle-free as possible. In 2011 alone, DIBS has been one of the most attractive incentives for buyers whether for investors or for personal use. What Lies Ahead For Mah Sing, 2012 is shaping up to be an exciting year with a sales target of RM2.5billion to achieve via planned launches throughout the year. Tapping into pent-up demand from selected sectors and introducing new phases in existing projects like Icon City (PJ), M City (Jalan Ampang) and Garden Plaza (Cyberjaya) as well as new projects like M Residence in Rawang are all in the pipeline for the company. As Mah Sing’s enthusiasm for good take-up rates is based on the strategic locations, creative concepts that meet the needs of the public, it seems that there need and demand will be the order of the day, especially for projects under the RM1million mark with the right package to accompany it.
AGENCY DIRECTORY New Bob Realty Sdn Bhd
Kim Realty
MIP Properties
(Co. No. 69200-K)
E(3)0211
E(3)1082
Established formally as Bob Agency in 1959, the company started by catering primarily to the housing needs of the British Forces and Royal Australian Airforce personnel leading the company to become the first real estate company in Penang as well as the northern region of Malaysia. The name was later changed to New Bob Realty Sdn. Bhd. and is still a leading real estate company in the northern region today offering our clients opportunities to successfully invest, sell, or lease residential and commercial properties in the market. We specialize in Buying/Selling, Lease/Rental and Property Management. We are recruiting now! Contact us and we will share with you why you should consider career in real estate. Penang (HQ) Tel: (604) 229 1111 Fax: (604) 229 7777 Butterworth Tel: (604) 399 9111 Fax: (604) 399 9777 Sungai Petani Tel: (604) 421 1111 Fax: (604) 422 7777 Email: ask@NewBob.com.my Web: www.NewBob.com.my
KIM REALTY established in 1980 offers a complete range of Real Estate Agency, Project Marketing and Auctioned Property Marketing services with 4 branches in Klang Valley, with more than 100 well-trained and qualified negotiators, project marketing executives and division managers dedicated to serve our clients and meet their specific needs for the last 30 years with the motto, ‘Service You Deserve From Professionals You Can Trust’. We have a dedicated team to handle expatriate and local sale and rental of properties, commercial and industrial properties, investment and corporate real estate, agricultural, industrial and development land advisory services. To join us as Real Estate Negotiator, please call us for a challenging & rewarding career! Tel: (6019) 336 0899 | (603) 7729 9988 Fax: (603) 7727 9366 Email: pjbranch@kimrealty.com.my Web: www.kimrealty.com.my
Whether you’re looking for a home for your family or an investment; seeking high-value returns on rentals or property sales, MIP Properties is the ONE NAME everyone TRUSTS to get the perfect home at the perfect price. Through our emphasis on high standard of service, professionalism, integrity and approachability, we have built strong relations with home owners and property investors that ensure our property database is unmatched in reach and comprehensiveness. Your successful future starts today! A career at MIP Properties is about opportunities, rewards, growth, learning, partnership and harmony. To apply or for more information on the most rewarding professional experience in the ever-dynamic and lucrative real estate field, send an email to career@mipproperties.com Tel: (603) 6141 8619 | Fax: (603) 6140 8619 Email: sales@mipproperties.com Web: www.mipproperties.com
www.chester.com.my
Metro Homes Sdn Bhd E(1)0228 Metro Homes is the leading real estate agency in Malaysia with 16 years track record and 13 offices Nationwide, 11 branches in Klang Valley, 1 in Penang and 1 in Kota Kinabalu, Sabah. Metro Homes have several departments that focus on High-end Properties, Industrial division, Commercial Division, Islamic division, Auction Properties, Project Marketing, International Sales and Australia Properties Division. To join us as Real Estate Negotiator, Senior Negotiator, Team Leader, Resident Manager, please call us for a rewarding career! Tel: (603) 7784 6088 Fax: (603) 7783 4767 Email: info@metrohomes.com Web: www.metrohomes.com
Chester Properties Sdn Bhd E(1)1321 Started in 2006, Chester Properties Sdn Bhd (CPSB) has successfully established within a very short time period from a single-office entity in Kota Damansara to multiple branch offices in Desa Sri Hartamas, Bangsar, and all the way to Gangnam-gu, Seoul, South Korea. CPSB provide an intensive training facility at Chester Training Centre Sunwaymas to equip our negotiators with an on-going training, professionalism and learning culture. Being awarded Service Provider of The Year 2009 in Business of The Year 4th Award by SMIs & SMEs Business Award, this has proved that we are one of the best real estate agencies in Klang Valley. Come join us as Real Estate Negotiator: Tel: (603) 6142 6000 | (603) 6201 3933 | (603) 2284 6991 | (603) 7804 7686 Fax: (603) 6142 6111 | (603) 6201 2133 | (603) 2284 7991 | (603) 7804 4686 Email: admin@chester.com.my
Allworth Real Estate (KL) Sdn Bhd E(1)1321 Allworth Real Estate is the proud creation of a group of Malaysians with an entrepreneurial and global mentality. Being the first real estate agency in Malaysia to be accorded with the coveted and prestigious MS ISO 9001 by SIRIM speaks of the company’s commitment to quality management system in sales and marketing of real estate services as well as project marketing. Tel: (603) 6203 6268 Fax: (603) 6203 6568 Email: jeffong@allworth.com.my Web: www.allworth.com.my
PROFILE – ROSE WONG Rose Wong started in the property industry over 15 years ago and in those years has managed to achieve outstanding sales year after year, specialising in Subang Jaya, USJ, Glenmarie and Klang Valley locations. In between those many successful years, she was also attached to the global real estate agency, Century 21 at its Sydney office. She has been awarded ‘Top Agent’ every year consecutively with Oriental Realty since 2004 to 2010. She is currently managing the Subang Jaya Property Gallery with Oriental Realty and mentoring newly recruited sales executives at the Gallery. HP: 0193526638 / Email: rosewly@yahoo.com
THE PROPERTY GALLERY Rose Property Gallery is the Property Gallery division of Oriental Realty, and is centrally located in Subang Jaya, SS15 opposite Subang Parade. It will showcase properties by developers, homeowners, rentals, ranging from residential to commercial properties, encompassing the Klang Valley area and including certain attractive overseas properties. It is serviced by a professional team managed by Rose Wong, who has 15 years of experience in the real estate industry. At Oriental Property Gallery, we strive to service our clients in a friendly professional manner, providing efficient and effective service.
Thinking of displaying your residential, commercial or land in Malaysia? Contact us at: No.5A, 1st Floor, SS 15/ 2A, 47500 Subang Jaya, Selangor Darul Ehsan.
Tel: +603 5636 6648 Fax: +603 5636 6648 E-mail: rosepropertygallery@gmail.com Open 7 days a week 9.30 am -6.30 pm
WE ARE EXPANDING AND CURRENTLY RECRUITING NEW SALES EXECUTIVES FOR OUR PROPERTY GALLERY. PLEASE CALL ROSE 019 352 6638 / 012 678 2863
signaturelot@gmail.com
Danny Cheang Handphone: +6012-277 5778 or +6012-214 8213 GS REALTY SDN BHD
www.dannyklcc.iagent.my www.dannycheang.iagent.my
BLUWATER ESTATE Lot no 18 ( THE MINES ) Gated & guarded community. Brand new with CF bungalow L/A 9089 sq ft, B/U 10351sq ft 5+1 rooms. 3 storey with lift & swimming pool. Walking distance to Australia International school. Modern design valuation @ RM4.2mil.Best Buy @ RM3.9mil.
COUNTRY HEIGHTS KAJANG Lot No: 568 Masterpiece Signature lot Bungalow Freehold. Land Area 20000 sq ft , Built Up 23500 sq ft. Front and Back breathtaking Lake View. Sale from 10 million. Many other choices sale from 5 to 6 million onwards. Danny 012-277 5778.
BLUWATER ESTATE Lot no 59 ( THE MINES ), L/A 9600 sq ft, B/U 8000 sq ft,5+1 rooms.2 storey bungalow with pool, 3 minutes walks to Australia International School, green & serene environment valuation @ RM 3.5mil.
Mines Resort City Prime Bungalow Lot for sale. Gated & guarded excusive community with club house facility & award-winning golf course. Land size from 7500 sq ft, 8069 sq ft, 9300 sq ft, 10500 sq ft, 11800 sq ft, 14000 sq ft & 16000 sq ft. Best Buy @ RM188 psf.
BLUEWATER ESTATE Lot no 24, Brand new bungalow, L/A 9054 sq ft, B/U 6456 sq ft, 7r 8b modern design cum with swimming pool easy access to Mines Resort shopping mall Award Winning Golf Course and KLIA international airport. RM 3 mil OPEN HOUSE SALE PLS CALL 012-277 5778.
Gita Bayu Bungalow Lot Lush greenery environment. Freehold nitch bungalow lot with tight security. Limited units for sale. L/S 9300sq ft to 18000sq ft. Price from RM208psf to RM250psf. Dining pavilion & club house cost more than RM10mil for residence to utilize it.
Kiara 9, Mont Kiara Brand new luxury condo, freehold, C-28-3 High 28 floor 1661sq ft, nice view, very near to Mt Kiara Garden International School, French International School & Mont Kiara International School. Best Buy @ RM1.11mil.
Saujana O Lot New living concept. Gated & guarded residence. Freehold, special prime corner lot or garden view unit for sale. Price From RM2.5mil to RM2.8mil. Please call Danny 012-2775778
Johor Bharu Prime Mega Mix development land 22 acres for sale or joint venture. Close by Iskandar region. This coastal closer haven piece of land near Danga Bay is located at the well-known tourism corridor of south eastern corner of Peninsula Malaysia. Full details please call Danny 012-2775778
The Valley TTDI Ampang Bukit Indah Nestled in the serene foothills of Ampang is an exclusive enclave of bungalows and linked villas named as The Valley TTDI, where modern architecture harmonises with the elements of nature bringing the best of both worlds together. Sale from RM2.7mil to RM3.3mil. Danny Cheang 012-2775778
Owner others listing are most welcome Email: signaturelot@gmail.com
Danny 012-277 5778 GS Realty