Property Hunter Magazine

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Featured Interview Raymond Yu

Reaping The Rewards Of Teamwork

COVER STORY

The Hap Seng Legacy

HOT TOPIC

Criteria To Invest In The Right Commercial Property

ISSUE

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SHAREDA Property Hunter Expo Sandakan 2015 -Sandakan: Modernisation Of A City Mitsui Outlet Park KLIA To Be Opened This Year Mortgage Planning. The Way Forward.

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Exclusive Coverage SHAREDA Property Hunter Expo Sandakan 2015

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Cover Story Hap Seng Properties Development Sdn Bhd: The Hap Seng Legacy

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Hot Topic Criteria To Invest In The Right Commercial Property

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Feature Property Showcase UEM Opportunities Aplenty At The Nusajaya Property Tour

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Feature Property Progress • Grand Merdeka • Sejati Walk

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Feature Property Showcase Wah Mie Gets 4 Star QLassic Certification For Taman Rimba

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Feature Property Progress • Beaufort Square

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East Malaysia Property News

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Contributor: Miichael Yeoh Mortgage Planning. The Way Forward.

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Feature Property Event Beauty And Laughs Add Zest To Mah Sing Group Launch Of Tower 3 Of The Residences At Sutera Avenue

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Feature Interview Raymond Yu: Reaping The Rewards Of Teamwork

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Feature Property Event IWH: Iskandar Waterfront Holdings To Increase Brand Presence In East Malaysia

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Feature Interview Vijayakumar: Intelligent Office Space Of The Future

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West Malaysia Property News

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International Property News

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Coffee Talk: kopiandproperty.com • 3 Signs Of A Property Bubble • The Good Debts, The Property And The Degree • Wait. Only Buy When Property Bubble Bursts?

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EXCLUSIVE COVERAGE | SHAREDA Property Hunter Expo Sandakan 2015

SHAREDA Property Hunter Expo Sandakan 2015 Guest Of Honour

SHAREDA Property Hunter Expo Sandakan 2015

Message From

Message From

DATUK FRANCIS GOH FAH SHUN

MR. QUEK SIEW HAU

Organising Chairman of SHAREDA Property Hunter Expo Sandakan 2015

President Of SHAREDA

Message From

YB DATUK AU KAM WAH Adun N45 Elopura

I would like to extend a warm welcome to all the exhibitors and visitors to the SHAREDA Property Hunter Expo Sandakan 2015, jointly organized by the Sabah Housing and Real Estate Developers Association (SHAREDA) and Maxx Media (S) Sdn Bhd.

Message From

Y. B. DATUK AU KAM WAH Adun N45 Elopura

My sincere thanks to SHAREDA for inviting me to grace and officiate the opening ceremony of this event which aims to bring together developers, investors and homebuyers to explore rewarding long-term investment opportunities.

It is a pleasure to see yet another edition of this successful collaboration between two organizations that are working hard to spur the property industry in Sabah, and Sandakan in particular, to greater heights of achievement. The last year has been a litmus test of how versatile and volatile the property industry can be when faced with challenges. And I am glad to note that Sabah has been able to weather the storm quite admirably.

There is still more to be done to bring the industry back up again and property expos such as this are an important part of this recovery process. It demonstrates the resilience of the industry to keep on producing quality products for the benefit of homebuyers and businesses alike.

I would like to remind developers that maintaining high quality control in the construction process and finishing of a building is as important as providing the community with houses, offices and shoplots to live and work from. We should not sacrifice quality for affordability as buying and investing in property is one of the biggest decisions a person can make and we, in the industry, have to be accountable for this decision to be worthwhile and long-standing.

I would like to congratulate SHAREDA for its foresight in stimulating a balanced growth in property development. SHAREDA has shown its steadfast commitment in meeting the needs of the public for affordable housing while at the same time encouraging the growth of property investment in other types of developments such as leisure and tourism.

Since the inaugural expo held in Sandakan last year, a lot has happened with challenges and achievements encountered in equal measure by the real estate and housing industry. The implementation of GST has predictably been the biggest of these challenges as the public grapples with its long-term implications on property investment. The adjustment has been difficult for many but I am confident that the property market in Sabah is tough enough to overcome this obstacle and emerge even stronger and more vibrant.

SHAREDA has also engaged in addressing some very pertinent issues related to property development particularly in bringing down development costs.

We consider this an important issue that has to be resolved soon in order to develop more affordable housing for the public, especially first time home buyers and young families.

We in SHAREDA look forward to building a closer relationship with the relevant government ministry, departments and agencies to bring about a positive change in the property industry in Sabah.

I would like to applaud Maxx Media (S) Sdn Bhd for creating this excellent platform for SHAREDA members to showcase their properties and to bring about a greater appreciation for the property market and industry as a whole.

I wish everyone a successful exhibition and happy property shopping.

Thank you.

Datuk Francis Goh

Adun N45 Elopura

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On behalf of SHAREDA Council Members and the Organising Committee, I would like to express our sincere gratitude to YB Datuk Au Kam Wah, ADUN N45 Elopura for graciously accepting our invitation to officiate the Opening Ceremony of the SHAREDA Property Hunter Expo Sandakan 2015.

I wish SHAREDA and Property Hunter a productive and exciting expo in Sandakan and hope it continues to fulfill its mission to promote the growing property and real estate industry in Sabah.

YB Datuk Au Kam Wah

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It is my pleasure to welcome all exhibitors and visitors to the SHAREDA Property Hunter Expo Sandakan 2015. This is the second year that Sabah Housing and Real Estate Developers Association (SHAREDA) has jointly organized this expo with Maxx Media (S) Sdn Bhd, which has become a highly anticipated annual event in the property expo circuit in Sabah.

Thank you.

President of SHAREDA

It is my pleasure to welcome all exhibitors and visitors to the SHAREDA Property Hunter Expo Sandakan 2015. This expo series has become a much anticipated annual event attracting developers from Sabah and beyond to showcase their top of the line properties. Despite a very challenging 2014, I am pleased to see the continuous support for the expo in terms of participation and variety that will be exhibited this year.

The main aim of SHAREDA Property Hunter Expo is to create a vibrant environment for the property industry to thrive and grow to its full potential. The Sabah property market has achieved many milestones over the last few decades and has continued to show true resilience in maintaining its position as a significant segment in the state’s economy.

Sandakan is a city in continuous transition and we can see its development radiating outwards from its historical centre to more vibrant sectors in the suburbs. This is a very positive sign of an industry that is constantly growing from strength to strength which I am confident will continue for many years to come.

However, we have to be vigilant and take challenges in stride by being more innovative in our products to meet the needs of today’s more investment savvy society. Developers have an important role to play in the modernization of Sandakan’s property market scene to make it sustainable for future generations to enjoy the benefits of a well-planned and developed city.

We hope that events such as the SHAREDA Property Hunter Expo will continue to create more awareness about what Sandakan has to offer as well as to give investors in Sandakan the opportunity to explore other options beyond the city.

On behalf of SHAREDA, I would like to thank all of you for being here and participating in this exciting event. Your continuous support is invaluable in making this event a success and I wish everyone a fruitful outing at the SHAREDA Property Hunter Expo Sandakan 2015.

Thank you.

Quek Siew Hau Organising Chairman

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EXCLUSIVE COVERAGE | SHAREDA Property Hunter Expo Sandakan 2015

Sandakan

Modernization Of A City

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andakan has a history that is peppered with colourful characters and events that shaped this small trading base in the 19th century into a prosperous economic centre in the 20th century.

Before the British North Borneo Chartered Company built a settlement on what is now Sandakan in 1879,a thrivingunpowder and firearms trade controlled by the Germans was

Sandakan Harbour: Source from Wikipedia already established at Sandakan Bay. The first European settlement was then built by a Scottish arms smuggler by the name of William Clarke Cowie who named it Sandakan which means ‘the

place that was pawned’. The settlement was soon renamed Kampong German due to the significant German presence there. It was burnt down in 1879 and never rebuilt. A new administrative centre for the settlement was then set up by the British Resident William B. Pryer in what is today known as Buli Sim Sim. Pryer gave the settlement the name Elopura, meaning “beautiful town”, but it didn’t stay in favour for very long before reverting back to the name Sandakan.

Sandakan began to prosper under the British North Borneo Chartered Company administration that encouraged the migration of Chinese from Hong Kong to develop the economy of Sandakan.

Unsurprisingly, many of the Chinese traders eventually settled down and played a significant role in the development of Sandakan, particularly in the timber industry. At the height of Sabah’s timber boom in the 1980s, it was said that Sandakan had the world’s greatest concentration of millionaires. An exaggerated claim perhaps but Sandakan exuded a captivating aura of untold riches buried deep within its jungles which brought droves of people here to settle down, eke out a living and put down roots.

City on the move

Sandakan was made the second capital of Sabah (or British North Borneo then) in 1883 and was a thriving administrative and financial centre. Trade shifted from indigenous forest products such as birds’ nest, sandalwood and beeswax to timber, and later oil palm.

tourism destinations in and around city such as the Sepilok Orang Utan Sanctuary, Labuk Bay Proboscis Monkey Sanctuary, Turtle Islands and the Kinabatangan floodplain.

Sri Utama Condominium

Together these industries have given Sandakan the capital it needed to build up its housing and infrastructure to provide for new businesses and a population that has grown into the thousands.

The 2010 census puts Sandakan’s population at 396,290 which indicate a huge potential for the property development industry to take off in this expanding city.

City under construction

Source from Wikipedia The city’s fortunes have risen and ebbed according to changes in the economic scenario over the last several decades resulting in the dwindling of the lucrative timber industry followed by the emergence of the oil palm industry, as well as leisure and tourism. Sandakan is the major gateway to many nature-based

The property development sector in Sandakan has seen a steady growth in the last 30 years with a range of new developments breathing fresh air into the city landscape. One of the more prominent developers, Wah Mie Group, has been a mainstay in the local property development scene here, building various types of housing from low-cost apartments to affordable homes, luxurious detached and semi-detached houses as well as multi-storey luxury condominiums.

They have also ventured into mixed developments and commercial properties such as the highly anticipated Taman Sejati Ujana, a new 63-acre township comprising of houses and apartment located next to a bustling commercial hub with a shopping mall, shop lots, hotel and corporate garden.

Sejati Walk, Sandakan ’s first pedestrian mall, is a much anticipated development that is set to boost the retail sector and bring about a more modern transformation of this historic city.

The population shift from the crowded city centre towards a radius of 10km is already seeing more residential and commercial projects targeting these areas.

More properties, more possibilities

Property investment among residents in Sandakan is not confined within the city and its suburbs and we see a healthy growth of investors expanding their portfolio by moving into other markets.

Kota Kinabalu is of course a popular choice with its exceptional development growth in the last 10 years, not only in numbers but also variety of type and concept design to lure a wider range of interested buyers from all over the state.

Non-local property investment options are also becoming popular with an influx of property developments from Peninsular Malaysia making inroads into the Sabah property market. Even developers from as far as Australia are starting to be more aggressive in marketing their products here particularly among parents who are planning to send their children for further education in Australia.

Property expos are great for that ‘all-under-oneroof’ ease of viewing new property developments and Sandakan has become one of the must-stop cities on any property expo schedule in Sabah. Its investment savvy residents are now being spoilt for choice with the sheer number of properties available locally and internationally which has given rise to more innovative and attractive packages on offer for them.

Sejati Walk, Sandakan

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The current property market may be a bit subdued but judging from the number of property developers participating in the annual Property Hunter Expo Series, optimism is high and that recovery may not be too far away.

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COVER STORY | The Hap Seng Legacy

The

Hap Seng Legacy

T

he building blocks of Hap Seng Properties Development were set precisely and purposely to achieve one goal - to be the biggest player in the Sabah property industry.

The Hap Seng legacy was born from the building of relationships based on trust and loyalty. Its success stories from the east coast of Sabah inspired its meteoric growth from the early days to become one of Sabah’s most respected and reliable property developers before spreading its wings to other regions in Sabah and beyond.

John Tan, Chief Operating Officer of Hap Seng Properties Development, has seen how the company has grown from strength to strength while still upholding its commitment to provide for the needs of the people in Tawau and Lahad Datu, where it all began, and accelerate its development projects in Kota Kinabalu.

Communities in these towns were largely engaged in the timber and agriculture industries. The company saw a gap in the affordable housing market for these communities and successfully filled it with projects that met their needs.

Today, Tawau and Lahad Datu has enjoyed up to 90 percent lionshare of the property developments initiated by Hap Seng Properties Development largely due to this commitment.

John Tan talks about how the company has carved its niche in the property market to become a major player in the construction of quality and affordable housing in Sabah.

Hap Seng Properties Development has invested more than 30 years in building affordable housing in the east coast of Sabah. Why the long-term focus here?

There are a couple of reasons for this. First of all, it’s because we have a huge land bank here. And secondly, Tawau and Lahad Datu is where Hap Seng, the parent company, had established its legacy.

We are a local based company and we share a close affinity with the people here, with a deep understanding of their culture and lifestyle. We are able to apply this understanding to meet their housing needs. In fact, building affordable houses is our biggest strength proven by almost 10,000 units of affordable houses built since the 1970s.

Why affordable houses?

We have the financial resources to acquire sufficient land bank to build not only houses but entire townships with all the necessary facilities and services. We

John Tan

Chief Operating Officer of 22 www.PropertyHunter.com.my Hap Seng Properties Development

always apply a holistic approach to our development projects to create a living environment that is affordable, comfortable and convenient. Building affordable housing has been our success formula and the continuous demand for our properties have kept us focused here for the last three decades.

House prices will not go down and if anything, they are most likely to increase further. We are maintaining our house prices which are the same before and after GST to encourage people to buy their houses now to avoid losing out if they take too much time waiting for the market to change.

Today, we have ventured into Kota Kinabalu and other major cities in Malaysia.

I believe we will remain resilient because of our financial stability, we are vertically integrated starting from quarry trading and in building materials.

How has the company managed to maintain its competitive edge in the industry?

The key factors are self-sufficiency and sustainability.

Hap Seng is a conglomerate with various business ventures. Besides the property development division, we have other business interests such as producing building materials and managing quarries for the raw materials needed in construction. As a result, it effectively brings down the construction cost.

Our extensive land bank has the capacity to produce higher numbers of housing units especially for a township development. This is definitely an edge over our competitors as we can build more and sell at a more affordable price for the same size and quality.

How has Hap Seng influenced the property development industry in Tawau and Lahad Datu?

We pride ourselves in being able to give our customers what they need, and not necessarily what they want. And this has kept Hap Seng Properties Development always a step ahead of the competition and a leader in the industry.

The company has consistently been able to metamorphose huge land banks into products with good capital gains with each new project launch generating a high level of excitement and anticipation.

Moreover, the supporting infrastructure brought in with each project such as road widening and street lights have inevitably created an upsurge in land prices in the surrounding areas and generated a more positive and vibrant property development market in Tawau and Lahad Datu.

How has the GST impacted on the company’s development projects?

The implementation of GST has indeed impacted the property development industry as a whole. Our approach is to urge our customers to buy now as this is the only way to hedge against inflation.

Why is affordable housing so important in Tawau and Lahad Datu?

In my opinion, affordability is a matter of urgency. Those in the higher income group are becoming more prudent with their spending and may not be so quick to buy more properties now but for those in the lower income group still saving up for their first home, it is a necessity.

Hap Seng Properties Development has been able to leverage on its strong financial foundation to contribute to the population in Tawau and Lahad Datu where affordable housing is of significant concern. This issue is very dear to our hearts and it is our vision to see the people here having the opportunity to own their own homes where their families can live comfortably.

What are the company’s future plans?

We will continue to strengthen our market share in Sabah with expansion into the west coast, particularly Kota Kinabalu. Our focus will continue to be in affordable housing as we have built up a long-standing reputation of trust, reliability and quality. Our vision is to become the biggest player in the Sabah property industry and I believe we have hit on the right segment of the market.

Further to this, our foray into developments such as Menara Hap Seng, the first Grade A office in Sabah that is nearing completion, and Kingfisher Sulaman and Kingfisher 2 has cemented Hap Seng Properties Development’s reputation as a versatile player that can undertake both affordable and highend development projects with the same level of commitment to quality, design and construction.

Our team will continue to be aggressive in applying innovative approaches to our business strategy and we look forward to spreading our wings across Sabah and to keep the Hap Seng legacy alive for many years to come.

HAP SENG PROPERTIES DEVELOPMENT SDN BHD 19th Floor, Menara Hap Seng, Jalan P. Ramlee, 50250 Kuala Lumpur, Malaysia. www.PropertyHunter.com.my 23

+6088 433-711 www.hapsengland.com

COVER STORY | Hap Seng Legacy

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ituated within the maturing 1,368-acre Bandar Sri Indah Township are the 870 units of impeccably designed double-storey terrace houses in Phase 5 that offer a choice of five types of layout to suit your personal lifestyle.

seamlessly into tranquil natural surroundings of the three nearby forest reserves of Membalua, Tinagat and Babanga. The nature infused environment complements the sense of relaxed comfort that is the cornerstone of a harmonious living space.

The meticulously planned development blends

Complete facilities to provide for the essentials of sustainable

living are all within easy reach with a wet market, schools, esplanade, sports and community complex located at a convenient distance.

Bandar Indah Phase 5 is an extraordinary feat of value engineering and design that allows the units to be priced from a very affordable RM309,000 only!

Bandar Sri Indah (BSI) Phase 5BCDEF 3. Double Storey Terrace Phase 5B

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4. Single Storey Terrace Phase 5C

Ria Heights @ Jalan Utara

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1. Double Storey Terrace 2. Single Storey Terrace

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panning a vast 100-acre expanse of prime land in the heart of Tawau is Ria Heights which boasts a veritable collection of serviced residences, apartments, and shops, with the Tawau Sports Complex located nearby.

Ria Heights is a township where residential and commercial components are cohesively planned to take

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full advantage of the pristine natural surroundings. Nestled with the development are 239 single-storey terrace and 230 double storey terrace units within a gated and guarded residence.

The low density environment emphasizes the benefits of high quality and modern design housing concept built to the highest standards of workmanship.

The well-integrated township is a self-sustaining community of people and facilities that have been planned to create the perfect living environment with endless possibilities to live the life of your dreams.

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HOT TOPIC | Criteria To Invest In The Right Commercial Property

Criteria To Invest In The Right Commercial Property Do you use the same criteria checklist investing in commercial property as in residential?

Get it right the first time by knowing the difference to get the most out of your commercial investment.

E

xperts say that success in commercial property investment requires the willingness to spend a lot of time and effort upfront in researching, developing the right relationships and identifying the right type of investment.

Knowing the difference between investing in residential and commercial property is essential so here are some more great tips and advice for you.

For commercial property, location is more than a simple matter of demographics. Each property type requires its own set of unique attributes.

Chris Lang, an advisor to property investors, sell-out author and speaker, outlined the 5 basic principles to keep in mind when choosing commercial property.

When evaluating a commercial property, pay careful attention to the tenancies.

1. Location

For instance: retail centres depend upon road access, high foot traffic and a local population of adequate size to support its tenants. Office buildings benefit from nearby freeways or public transport, coupled with support activities nearby.

Having long leases is usually better than having short leases. But you shouldn’t have every lease falling due at once — instead you should stagger their expiry dates, to minimise your risk.

3. Have an exit strategy

Property investors typically focus on maximising the return on their equity.

As you own a property for a period of time, you continue to build equity through both increases in the property’s value and reducing your mortgage. Over time, your growth rate will stabilise – indicating that it

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Source: REIClub, a real estate investment education site

Most real estate investors get started buying single-family houses, probably because it’s what we’re the most familiar with. But whether you’re going straight to the big time or are ready to advance from houses to larger (and more profitable) deals, here are 10 timetested guidelines to follow that will help you have more success.

Tip #1: Think Big

2. Tenants and leases

A good mix of stable tenants means are greater likelihood of you collecting rent in the future. Pay careful attention to the length of each tenant’s initial lease term, as well.

10 Tips For Investing In Commercial Real Estate

could be time to find a replacement property.

When buying a Commercial property, my recommendation would be to undertake a formal review every four years.

4. Make allowances for capital expenditure

In marketing commercial property, the stated net income typically excludes capital expenditure like roof replacement, or any other required upgrades. Your due diligence should flag these, and a preventative maintenance program can also help in preserving your future cash flow.

5. Liquidity vs leverage

Most investors know that leverage (or debt) can help in the hands of

positive swings in the market and significantly increase your returns.

Unfortunately, the use of leverage can also limit the amount of money that they have available for emergencies.

With this in mind, you should also set aside a pool of funds — to help cover up to six months’ worth of interest, if the need should arise down the track.

If buying a 5-unit apartment requires you to get commercial financing, which is more of a hassle, then why bother? I would recommend buying properties with at least 10 units.

Remember that the more units you buy, the cheaper they are per unit.

Also, Dave Lindahl has been quoted as saying, “It’s no harder to manage 50 units than it is 10.”

parks, land, etc. Weigh all of these property types and choose your own niche based on whatever will help you reach your unique goals, regardless of your comfort zone.

Tip #4: Be Prepared to Spend a Lot of Time at First Fight the temptation to get discouraged if you haven’t done your first deal yet, or if you are spending more time per deal than your previous ones. Houses are so similar that it’s easy to make a cookie-cutter system for buying and selling them. When I begin looking for commercial properties, I was surprised at how long it took me in the beginning to screen deals and make offers. Just remember that there is a learning curve, like with anything else, and that things will go faster over time.

Tip #5: Learn the new formulas If you’re buying houses, you may use certain formulas, like buying at

Tip #2: Take Your Time Commercial deals take longer than single-family houses do. They take longer to purchase, renovate, and get sold. This is not necessarily a bad thing, but something to keep in mind so that you don’t get impatient or rush into a bad decision. Think of commercial deals as big bonuses or your retirement vehicle, not a way to create quick cash to pay the bills.

Tip #3: Don’t Choose Apartments

By Default There’s nothing wrong with investing in residential apartments per se.

I’m just pointing out that since most investors are already comfortable with residential property, they tend to look for apartments without considering the other types of commercial property, such as office buildings, industrial, mobile home

properties costing a million dollars or more are probably within the financial wherewithal of most of us individually, so you probably have no choice but to get to know and work with partners. Also, many commercial properties are sold without being listed first, so the more people in your network who know what you’re looking for, the more deals you’ll find.

Tip #7: Find Good Financing In Advance Commercial loans are a different animal than residential loans, and in some ways better. The down payments needed are usually a higher percentage than loans on single-family houses, which means you’ll have to put more down (or get your partner to put more down). However, there is often no personal liability if the deal goes south, and they are more lenient about letting you borrow the down payment money from someone else.

Nevertheless, before making offers, ask around and find out who the best lenders are in your area to use when buying commercial properties, as it may make the difference between qualifying for one or not.

Tip #8: Be Prepared to Lose Due Diligence Money

75% of After-Repaired Value, minus estimated repairs. Commercial property will have new and different formulas to get used to, such as Net Operating Income and Cap Rates.

Learn what is considered good in your area and get familiar with them when making offers.

Tip #6: Relationships Are Even More Important Relationships with other investors and private lenders are important when buying houses, but they are even more so when buying commercial properties. For one,

people can qualify for on their own (in fact, getting a loan to buy a house is hard enough!) So make sure that you spend a lot of time finding private lenders or deal partners to help you out. A partner can provide the cash and/or credit needed to purchase a property, and you can compensate them by paying a fixed

After your offer is accepted, you have a period of time (just like with houses) to do your due diligence.

You should get an appraisal, property inspection, and other tests and inspections required by law. The only problem is that these cost a lot more than they do for smaller deals.

You might spend $5,000-10,000 on a deal, only to find out you don’t want to buy it after all. While this is always better than buying a bad deal, you should still be prepared for these kinds of expenses.

interest rate or a percentage of the cash flow or proceeds from the sale.

Tip #10: Know Where to Get Tough Questions Answered Lastly, it’s imperative that you associate with experienced commercial investors who can answer questions that come up while you are evaluating properties.

There’s no sense in losing a deal or buying a bad property because you didn’t understand certain environmental regulations or estimating what trash collection really costs. Know who you can ask to get fast answers when you need them, and make them your new best friends.

By following these guidelines I can’t promise instant success. However, you will have the right perspective about investing in commercial property that will help you start right and stick with it for the long haul. Good luck to you in “moving on up” from single-family houses to the big time.

Tip #9: Partners Are Your Bridge to Wealth As I said before, buying million-dollar properties is not something most

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FEATURE CONSTRUCTION PROGRESS| Grand Merdeka

Grand Merdeka

GM Mall Units Close To Selling Out

Grand Merdeka For more information visit at http://www.grandmerdeka. com/

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ince the roof topping ceremony on 7 February 2015, our overall construction progress has reached a milestone of 80% completion for Grand Merdeka Mall.

Estimated construction completion date for the mall would be by December this year.

The architect certificate issued shows that the internal and external work for the mall has been completed with doors and windows in position.

Our marketing and leasing teams are progressing well with good sales figures even after the GST kicked in on 1 April 2015. To date, we have achieved sales of 80% and the remaining 20% units are still up for grab. Repeat customers purchasing units at GM Mall is indicative of the great confidence and trust in our project.

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Additional to the anchor tenant list, we have successfully secured and signed an MOU with a cinema operator.

The details of the cinema is still in progress and will be announced in due cause.

One month before GST implementation, strategic marketing campaigns were undertaken by GM Mall to boost sales and public confidence such as: •

Pre-GST Promotion - 6% GST waive on 80% progress billings

•

Participated in PH Expo in March 2015

Despite the market sentiment due to the GST implementation, Grand Merdeka Development Sdn Bhd was still able to achieve 10 sales out of the campaigns.

Lot 2 will kick off in August 2015 which consists of GM Home and GM Corp. GM Home will cater for a fast food drive-thru, hypermarket, 1Homeware and Top Kinabalu, while GM Corp will be 20 blocks of retail and signature office suites.

Grand Merdeka Progress Report 30

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FEATURE CONSTRUCTION PROGRESS| Sejati Walk

Sejati Walk

Is One Floor Up And Trending Upwards

Sejati Walk

For more information, visit www.wahmie.com

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esigned to connect the surrounding communities together with its strategic yet convenient location, this latest Sejati Walk lifestyle mall is the focal point for the residents of Sandakan to enjoy new experiences of comfortable street life.

With 344 units of stores set out in typical Sandakan street life concept, Sejati Walk is an eco-friendly low density pedestrian mall, well designed with natural ventilation and lighting to provide a high level of personal comfort.

All the hammering and knocking about have been well worth the effort. Finally we are proud to present Sejati Walk is one floor up albeit just the structure. Sandakan will soon have a new eminent hip and happening place with modern design and well-blended concept to appeal to people of all ages.

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Sejati Walk Progress Report 32

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As one of the major developers in Sabah, Wah Mie Group will always focus on its vision of “Building Quality Properties forThe Nation�. Effective quality control methods have been adopted to manage contractors to ensure the highest standard of quality of completed buildings is achieved.

Moving forward Wah Mie Group is committed to be environmentally conscious in all their future projects and strives to be recognized as a premier property developer, delivering quality products and excellent customer service for the betterment of community at large.

Sejati Walk is made up of seven blocks (Block A to G) where the overall progress for Block A to F, which is a 2-storey mall, having reached more than 40% for the major structure whereas substructure work for Piling, Foundation & Footing have been completed.

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FEATURE PROPERTY SHOWCASE| Wah Mie Group

Taman Rimba

Wah Mie Gets 4 Star QLassic Certification For Taman Rimba

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ah Mie Group recently acquired QLASSIC certification for its premier Taman Rimba project in Menggatal having once again demonstrated its commitment in developing projects that meet the highest standards of quality.

Its QLASSIC score of 77% earned it a 4 star ranking and has set a new benchmark for construction quality standards in Sabah. Its previous project, Alam Damai, scored 70% and a 4 star ranking which placed it in the QLASSIC Top 7 list in Malaysia in 2013.

With this latest certification, buyers can rest assured that every aspect of Taman Rimba’s construction has been assessed to meet their highest expectations and they will be getting excellent value for money.

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Quality Assessment System in Construction (QLASSIC) is a system or method to measure and evaluate the workmanship quality of a building construction work based on Construction Industry Standard (CIS).

It has a stringent scoring system that assesses samples selected from drawings and plans of the relevant construction project and covers all locations to ensure that they adequately represent every aspect of the construction process. QLASSIC assessments are carried out through site inspection and use the principle of first time inspection. Construction works that are rectified after the assessment will not be reassessed. The objective of this principle is to encourage the

contractor to ‘Do Things Right the First Time and Every Time”.

Out of the total 425 units at Taman Rimba, the 171 units of Taman Rimba Phase 3 Imperial have been built with space, comfort and nature in mind.

Its three spacious bedrooms range from 122 sqft to 144 sqft, and 207 sqft for the Master Bedroom which comes with a large open balcony and high sliding glass door that allows copious amounts of natural light into the room. Perched on higher ground and surrounded by lush greenery, Taman Rimba Imperial offers a tranquil living space that now has the benefit of being certified for its outstanding building quality.

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FEATURE CONSTRUCTION PROGRESS| Beaufort Square

Beaufort Square On Schedule For Early Completion

Beaufort Square

For more information, visit www.facebook.com/ pages/Kimis-Development/126628857545581

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eaufort Square has come a long way since 2013. The 78 units of 2 and 3 shop offices developed in phase 1 of the project serves as a commercial hub for Beaufort town.

With major anchor tenants such as supermarkets, hotels, F&B franchises, automotive showrooms, boutiques, and convenient stores, Beaufort Square also aims to be a transit hub, serving travelers travelling along the Pan Borneo highway which links the two East Malaysian states and Brunei.

Having a supportive construction team, Beaufort Square is on schedule for its completion date, and is hopeful to obtain its OC before July 2015.

Looking forward, we are in the midst of planning phase 2 for Beaufort Square aiming to bring a more lifestyle concept into it. Phase 2 would house a generous landscaped open-area designed as a center court where public and private events/activities can be held. On top of that, we are also planning an 11-storey boutique hotel. Due to the growing demand for banquet, conference and seminar venues, Kimis Development has had enquiries and support to endeavor into a ballroom-facilitated hotel.

Kimis Development is currently in the planning stages for projects in Kota Kinabalu and Lahad Datu, scheduled to launch in 2016.

Beaufort Square Progress Report 36

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EAST MALAYSIA PROPERTY NEWS

CMS To Undertake Sarawak Museum Campus And Heritage Trail Project

Jesselton Quay Is Expected To Take Off This Year

EAST MALAYSIA PROPERTY NEWS

Keep track of the latest property and real estate news plus reviews in the property market in East Malaysia

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Miri Property Market To Diversify Its Investment Opportunities In 2014, Miri was one of three Sarawak cities, including Kuching and Sibu, that were surveyed by the National Property Information Centre (NAPIC) and results showed that Sarawak was surprisingly ahead of Selangor in terms of the capital appreciation of property, auguring well for a positive investment climate in the state.

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he Sarawak property scene is becoming more upbeat despite its less than stellar performance due to the passing of more stringent financial guidelines by Bank Negara and most recently the implementation of the Goods and Services Tax (GST).

Investors can now look forward to more developments coming into view after a restless 2014 that was fraught with uncertainties. Property expos and exclusive showcase events are picking up momentum as developers are adopting more aggressive marketing strategies and offering attractive packages to woo back the buyers.

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Miri, Sarawak Among the cities that are emerging as a potential property hub is Miri where there have been some exciting developments particularly in the residential and mixeddevelopment sectors.

The Property Hunter Expo Series 2015 held its annual expo in Miri from 22 – 24 May, 2015 to give investors the opportunity to view current and upcoming projects in Sarawak as well as Sabah, Peninsular Malaysia and Australia. The exhibitor list this year was the most diverse to date which was indicative of the confidence local and international developers have in the Miri property investment market.

The All Houses Price Index, in a 13-year chart from 2000 to 2013, revealed that Sarawak emerged with the fourth-highest compound annual growth rate (CAGR) of 5.68% in the country for properties, overtaking Selangor’s 4.89%. Sabah recorded the highest CAGR at 8.48% followed by Kuala Lumpur with 6.62% and Penang with 5.95%.

Ho Chin Soon Research Sdn Bhd founder Ho Chin Soon says the strong CAGR is indicative of strong growth prospects in Sarawak.

“In terms of property segments, terrace houses in Miri have a higher capital appreciation, surpassing even Kuching.”

Property observers in 2014 also noted Sarawak’s accelerated growth in key areas including Kuching, Miri and Bintulu, have been aided by the state’s Sarawak Corridor of Renewable Energy (Score) and is emerging as the next frontier in the local economy.

According to State Industrial Development Minister Datuk Awang Tengah Ali Hassan, also Second Minister of Resource Planning and Environment in a statement, Score has attracted over US$8.3 billion in foreign and domestic investment.

The property investment market has undoubtedly softened post-GST but with more than 46 per cent of visitors to the recent Property Hunter Kuching Expo (1 – 3 May) believing that house prices will continue to rise in the next one year, now is as good a time to buy.

A wide selection of properties from local affordable homes and luxury condominiums to apartments at fashionable locations in Australia were showcased during the 3-day event to give buyers their choice picks.

Sarawak Museum Campus

ahya Mata Sarawak Bhd (CMS) through its construction arm PPES Works (Sarawak) Sdn Bhd, co-owned with Sarawak Economic Development Corporation (SEDC), has entered into contract with the state government via Sarawak Museum Department, to undertake the proposed Sarawak Museum Campus and Heritage Trail project here worth RM308 million.

of historically important heritage buildings. We are confident that PPES’ experience in developing iconic buildings across the state, including the State Legislative Assembly (DUN) Complex and Borneo Convention Centre Kuching, will enable us to deliver this project in line with the state’s objective of restoring Sarawak Museum into one of the region’s leading museums.”

As reported in The Borneo Post, the project comprises the design, construction, fitting out of an exhibitory for a new world-class museum and an annex building, with a combined total floor space of approximately 30,000m².

Curtis said CMS was honoured to have been entrusted with this project, recognising that its successful execution would greatly support nation-building, education and research into Sarawak’s rich natural, cultural and historical heritage as well as increasing cultural tourism.

This annex building would house the administration area as well as storage and conservation facilities in accordance to international museum standards, CMS said in a press statement recently.

The project also includes a heritage trail in central Kuching, as well as the period conservation and exhibitory for the three existing historical museum buildings and of a pavilion, it said.

CMS Group managing director Datuk Richard Curtis said: “The Sarawak Museum, which was founded in 1891, contains one of the world’s finest collections of Borneo materials within a complex

“To ensure that this objective is met, PPES in supplementing local resources, is involving international experts and other leading museums with proven track records in upgrading and developing world-class museums, in its project execution. These will include UK’s British Museum and Natural History Museum, who were involved in the original founding of the Sarawak Museum.”

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Actual aerial view of Jesselton Quay’s site in Kota Kinabalu

uria Capital (Suria)’s joint venture (JV) with SBC Corp Berhad (SBC) to develop Jesselton Quay’s (JQ) is finally taking shape with the latter planning to launch the first phase of commercial properties at the waterfront project in Kota Kinabalu soon, as reported in The Borneo Post.

To recap, the group had entered into a JV with SBC in May 2013 to develop 16.25 acres of its 23.25acre land around KK Port with a minimum net saleable value (NSV) of RM1.8 billion over eight years.

According to AllianceDBS Research Sdn Bhd (AllianceDBS Research), under the JV agreement, SBC is responsible for all costs and matters relating to the 16-acre waterfront development, JQ, which will comprise shops, service suites, a retail mall, hotel, and office towers.

As landowner, Suria will receive a minimum guaranteed return of RM324 million or 18 per cent of total GDV (whichever is higher) in eight scheduled payments throughout the

development period. Nonetheless, the development project has faced delays pending regulatory approvals.

“We gather from management that the group has finally obtained the development order for the project. Management is in the process of submitting the building plan and subdivision application to the authority, and approvals are expected in the coming months,” said the research house.

As such, the development is expected to be launched in the later part of this year.

“We are positive on the news that the group has finally obtained the development order after a long delay, as further project deferrals could disrupt the scheduled payments to Suria from SBC, which could pose a downside risk.”

The project is being undertaken in phases so that a section of Sarawak Museum would always be open to visitors. It is expected to be completed in 2020.

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CONTRIBUTORS | Miichael Yeoh

Mortgage Planning.

The Way Forward.

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oing forward, if you want to make sure that your mortgage is approved, you need to do mortgage planning first. Gone are the days when you submit your financial documents and expect the bank to approve your loan.

You have read in the newspaper and magazines that loan approval is getting more difficult and rejections are even more now. Who are we to blame? Shall we blame the bank, bank Negara or ourselves instead?

What do you think? Shall we blame ourselves instead.

What will happen when your loan is rejected by a bank? Human nature, you will photocopy all your documents in many sets and send to almost all banks. Then you start to pray that one bank will approve the loan. Is this the right way to do? Do you know that each time you send your documents to a bank and your case is rejected, it is reflected in Central Bank records Let me ask you, you want to leave you approval chance to luck or do you want to determine the approval? With proper mortgage planning you can even turn

rejection into approval. It will take some time for the planning to work.

Let me give you a good and true example: Mr Vaja and wife came to see me in my office. When they met me, they had already paid the first consultant 1% of the house amount of RM350,000. The loan was rejected and they never got their money back.

This happened the second time and they paid RN2,000 for the service. The consultants already knew that the loan will not be approved but they still took the money. In total 4 banks rejected and 1 approved at 50%. He came to see me after being referred.I asked why wasn’t he scared of trusting another consultant as I am also a consultant. After being burned twice, he still believed that somebody will be there to help him. He was buying his first house and had a child on the way so he had little choice but to trust in somebody.

I told him that if he were to apply now with the banks he will surely get rejected. The only way for approval is through mortgage planning. This is what he did but the planning took one year. He followed my advice and guess what. His loan was subsequently approved by 2 banks.

There are 3 things that you need to do when you apply a loan with the bank. You cannot miss out the following steps. It will assist you to take charge of your loan.

1.

Check your Credit Tip Of System (CTOS). You can check online now.

2.

Check your Central Credit Reference Information Systems (CTOS). You can check with Bank Negara.

3.

Check where you are standing now using Debt Service Ratio (DSR). You must learn how to calculate your DSR.

“Remember, you must get to know yourselves and the banks well enough to get your loan approved.

Nowadays we need to take charge in what we do. We cannot leave it to chance. With mortgage planning, we do take charge of our approval. Whether you are first home buyer or investor, it will be good to start mortgage planning.This process can be very fast or take a bit of time but it will make sure your loan is approved.

Stay tune for my next article.”

Miichael Yeoh He has over 15 years of experience in the mortgage and investment industry and having worked for prominent companies such as Standard Chartered Bank, Hong Leong Bank, HSBC and Hwang DBS Unit Trust, Miichael has helped thousands of loan borrowers by providing comprehensive mortgage advice and solutions. He regularly conducts mortgage course and speaks regularly at property exhibitions and seminars. You can get in touch with him at www.michaelyeoh.com.my

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FEATURE PROPERTY EVENT|Mah Sing Group

Beauty And Laughs Add Zest To Mah Sing Group Launch Of Tower 3 Of The Residences At Sutera Avenue

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remier lifestyle developer, Mah Sing Group Berhad (Mah Sing) recently launched Tower 3 of The Residences at Sutera Avenue on 16 – 17 May 2015 at Kota Kinabalu Convention Centre (KKCC) Show Gallery at Tanjung Lipat. In conjunction with the launch, Mah Sing also unveiled a new show unit where the serviced apartment’s contemporary lifestyle offerings were showcased.

The newly launched 11-storey Tower 3 contemporary serviced apartments consists of 100 units and offers two types of layouts, namely 1+1 and 2+1 bedrooms with built-ups ranging

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from 726 sqft – 1,220 sqft priced from RM605,000 onwards. Tower 3 is the second tower launched following encouraging response from the

first launch of Tower 2. In total, The Residences consists of 3 towers offering 320 units.

The Residences sit atop the 2-storey Festive Retail Mall, allowing residents the convenience of shopping for their daily needs right at their doorstep.

The Festive Retail Mall will offer shoppers a first-of-its-kind street mall retail concept with a 50-ft wide pedestrian boulevard on the ground floor coupled with wide frontage units served by escalator access to each floor.

In conjunction with the launch, Mah Sing held a two-day event where over 500 interested respondents were treated to a comedy show by Harith Iskander- the Godfather of Stand-up Comedy in Malaysia. Further to this, the launch was also graced by the 12 finalists of the Miss Sabah Tourism 2015 Pageant. Mah Sing is the presenter for both Harith IskanderLaugh Malaysia stand-up comedy show in Sabah and the Miss Sabah Tourism 2015 Pageant in Sabah.

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EAST MALAYSIA PROPERTY NEWS

Star City Revival Plan Revealed

Sarawak Energy Sweeps Major Awards In Singapore

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arawak Energy added two more international recognitions to its list of accolades after winning at the Power & Electricity World Asia 2015 Conference held in Singapore recently.The awards are for the “Asia CEO of the Year” and “Utility of the Year 2015”.

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he Chief Minister’s Department has revealed that SUDC (SEDCO subsidiary) is currently making an effort under Section 176 of the Scheme of Arrangement of the Companies Act 1965 to revive the Star City project.

The statement was made in response to Luyang assemblyman, Hiew King Cheu’s question about the future plan of the abandoned commercial complex project located in the heart of Kota Kinabalu city.

The project, abandoned few years ago by the previous joint-venture developer, has affected many purchasers. Under the “Save Star City” scheme, an eligible investor who is qualified with adequate financial resources including experience to complete the project was selected.

will submit the scheme to the High Court to apply for a caveat on it.

The scheme shall bring together all the parties involved. If any one of the parties disagrees with the terms and conditions laid out under this proposed scheme offered by White Knight, the scheme will fail.

Hiew said this was good news for the purchasers who had been stuck for a long time, not having a completed mall to carry out their business, and wished that all parties could work hand in hand to revive Star City.

“It is only possible through the committed efforts of those who are involved,” he added.

The New Sarawak Tribune reported that Sarawak Energy’s CEO, Datuk Torstein Dale Sjotveit received the awards at a ceremony held in conjunction with the conference.

Datuk Torstein was appointed CEO of Sarawak Energy in late 2009.

Under his leadership, Sarawak Energy has achieved a remarkable transformation to become a modern and agile corporation, to meet the needs of the people of Sarawak and also the need for large new industrial customers in the Sarawak Corridor of Renewable Energy (SCORE).

This entails delivering a five-fold increase in the State’s electrical output, in just this decade.

Sarawak Energy, recognised for its achievements and growth, also stood out among power utility players in the region, winning the Utility of the Year category. Since 2010, Sarawak Energy has recruited more than 2,000 new local staff and signed 14 agreements with

industrial and export customers for a total of more than 3000 megawatts (MW) energy. To meet future demands, Sarawak Energy is on track to become a regional powerhouse in ASEAN, harnessing the state’s potentials in hydropower, coal and gas.

Despite the challenges of such massive progress, Sarawak Energy has also recorded strong growth in its financial and operational performances in terms of improved reliability and reduction in power theft.

“On behalf of the 4,200 staff in Sarawak Energy, I would like to thank the organiser for these prestigious awards. This could not have been achieved without the hard work and dedication of the whole Sarawak Energy team and the wise guidance of our owners and Board of Directors,” said Datuk Torstein at the award ceremony.

The 6th Annual Power & Electricity Awards Asia celebrates and honours the contribution from individuals and organisations

Price Waterhouse Cooper (PWC) was appointed as the guarantor and the team consists of the following: White Knight (investor), SEDCO/SUDC (landowner), KFH and HSBC (Scheme creditors), and buyers and other loan providers.

Once White Knight (investor) has reached an agreement on what to do, and how much is to be paid to SEDCO/SUDC and all involved “scheme creditors” which are bank loan financiers and buyers, the PWC

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towards the growth of the energy and utilities sector in Asia Pacific.

The outstanding achievements raise the bar and help shape the energy and utilities sector in Asia.

These prestigious award winnings are external validations for Sarawak Energy’s achievements as a company that strives towards continuous improvements and excellence.

In September last year, Datuk Torstein also won the “Asia’s CEO of the Year 2014” while Sarawak Energy bagged “Power Utility of the Year Malaysia” at the Asian Power Awards held in Kuala Lumpur.

Sarawak Energy has also received international recognition for its CSR initiatives in Murum by winning the ‘Excellence in Provision of Literacy and Education Award (Gold)” at the 7th Annual Global CSR Summit & Awards 2015. The company also received the coveted “CSR Excellent Award” in 2014 at the Sin Chew Business Excellence Awards Ceremony held in Shah Alam, Selangor.

Citadines Forays Into Sabah With First Serviced Residence Contract in Kota Kinabalu

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apitaLand’s wholly-owned serviced residence business unit, The Ascott Ltd (Ascott), has expanded its presence in East Malaysia by securing a management contract for a 253-unit serviced residence – Citadines Waterfront Kota Kinabalu in Sabah.

Reported in The Borneo Post, it is said to be the first international brand of serviced residence in the state of Sabah when the property opens in 2018.

According to a recent statement, with this management contract, Ascott reinforces its lead as the largest international serviced residence owner-operator in Malaysia with over 2,000 apartment units across 10 properties in Malaysia.

Munwar Basha, Ascott’s Area Manager for Malaysia, said that demand for quality accommodation in Malaysia has been growing strongly as the country continues to attract foreign direct investment.

He said, in 2014, Malaysia’s foreign direct investment grew more than eight per cent to RM64.6 billion compared with 2013. Kota Kinabalu is the industrial and commercial centre of Sabah, Malaysia’s second largest state and the country’s biggest producer

of palm oil and cocoa.

Many government institutions and international corporations including banks have set up branch offices in the city, added Basha.

A well known destination for ecotourism, Kota Kinabalu is also popular for meetings, incentives, conventions and exhibitions (MICE).

Therefore, there is expectation of strong accommodation demand from these sectors.

Besides Citadines Waterfront Kota Kinabalu, Ascott will be opening two more properties in Nusajaya, Iskandar and one in Petaling Jaya, Kuala Lumpur by 2019, according to Basha.

Citadines Waterfront Kota Kinabalu will be strategically located in the heart of the city along Jalan Tun Fuad Stephens Road. It is a mere 10-minute drive from the Kota Kinabalu International Airport, which is the second busiest airport in Malaysia after Kuala Lumpur International Airport.

Adjacent to Kota Kinabalu’s Waterfront development that will comprise an upscale shopping mall and a seafront boardwalk lined with varied dining options, the serviced residence will offer

residents a great view of the South China Sea. Residents can also enjoy convenient access to the Kota Kinabalu Central Market, KK Plaza retail mall, commercial buildings such as the City Council and various international banks.

Citadines Waterfront Kota Kinabalu is part of an integrated development that includes a retail mall with supermarket, food and beverage outlets as well as offices.

Residents can choose from a range of spacious studios, one-, two- and three-bedroom apartments that come with a fully-equipped kitchen.

Residents can also make use of the comprehensive facilities at the serviced residence such as a swimming pool, children’s play pool, gymnasium, roof garden, lounge and meeting facilities.

Besides Citadines Waterfront Kota Kinabalu, Ascott will open Somerset Medini Nusajaya in 2015, Somerset Damansara UPtown Petaling Jaya in 2016 and Citadines Medini Nusajaya in 2019. Ascott currently operates Ascott Sentral Kuala Lumpur, Ascott Sentral Kuala Lumpur, Somerset Ampang Kuala Lumpur, Citadines DPulze Cyberjaya, Somerset Puteri Harbour Nusajaya, Citadines Uplands Kuching.

Sarawak Energy CEO Datuk Torstein Dale Sjotveit (left) with other recipients at the Power & Electricity World Asia 2015 in Singapore

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I

FEATURE FEATUREPROPERTY INTERVIEWSHOWCASE | Raymond Yu

“

mago is an amazing journey, almost magical to the sense of being a miracle, given the challenges that we had to face in getting it completed, tenanted and opened, and to such great reception from the people of Kota Kinabalu and, of course, Sabah,” Yu summarised. “It is now there to be experienced, open to the public, so using words to describe Imago now is grossly inadequate.”

Yu is an out-and-out property and construction guy. He graduated with a Degree from Bath University in Civil Engineering, and then pursued his postgraduate doctoral studies at Cardiff University doing research in structural optimisation for the field of aerospace.

Raymond Yu Reaping the rewards of teamwork Photo by: Louis Pang Studio

When Imago mall finally emerged from its three year incubation, it was to an overwhelming response unprecedented in the retail industry in Sabah which many have considered to be hugely oversaturated. The team behind this unexpected turn of events in headed by Asian Pac Holdings Berhad Group Executive Director and CEO Raymond Yu, who now wants the public to enjoy the fruits of their labour and simply enjoy the Imago experience.

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His introduction to overseas property industry was being sent to Shanghai in his late 20s as an assistant project manager in a mixed development with office tower and mall. He was like a fish out of water and had to get used to the local dialect, culture and work ethics of the people he would be spending a considerable amount of time with. Getting work done was a steep learning curve which included hours of poring over language books to communicate with his superiors and peers effectively, and adapting to the idiosyncrasies of everyday life in Shanghai.

Six months into his stint there and he was about ready to pack up and head home but Yu had something in him that would favour his decision to stay and see the project through. Dedication to his work, loyalty to the company and the personal satisfaction of seeing the project finally completed gave Yu the motivation he needed to persevere.

With the Shanghai property and construction industry experience behind him, he returned to Malaysia, where his first major project was to complete KK Times Square 2 project.

Embarking on Imago Mall was to be a test of

“Skills, knowledge and experience will all come with time. The most difficult is to instill the right character and right attitude, without which, the team is simply a collection of individuals.” creative thinking, precision timing, and dedicated teamwork which resulted in one of the most successful mall launch in Sabah.

“We were successful in building up the expectation and bringing in the first time brands into Kota Kinabalu, or even Sabah,” says Yu in response to the massive crowd made up of city residents and even those from outside the city who came to be part of the glittering opening event.

“Beyond that, we also did our marketing differently. We were confident of the brands we were bringing in and the advertising strategy employed. We had three years of planning and packaged it well. And surprisingly, you don’t need to have a big budget to get a big WOW factor. It’s all in the creative process and attention to detail.

For example, we used gold dust as one of the materials during the opening which is cheap but gave a stunning effect.”

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Feature Interview

Creating His Dream Team

Leveraging On Youth And Skill “Skills, knowledge and experience will all come with time. The most difficult is to instill the right character and right attitude, without which, the team is simply a collection of individuals. Is my team perfect? No. There will never be a perfect team. We cannot just have strikers, or midfielders.

We need a collection of team players of different skill sets, and to amalgamate them together into a cohesive unit. So, if you ask me what is the most important in my team, it is for everyone to work together for a common collective target.”

Yu is a supporter of Arsenal, and his loyalty is unwavering despite Arsenal having not won much since the era of The Invincibles. His approach to building the team behind the unprecedented response to the Imago Mall opening is very much like putting together a football team and once you are in the team, you have to give it all you’ve got despite all the challenges and pitfalls.

“Leasing is like the strike force up front, getting the goals or the results. Many might think it is an easy and glamorous task, but I assure you it is not. Imagine when a striker misses a goal, gets a header awfully wrong and getting tackled to the ground. It hurts. It can be depressing. What we see today is merely the outcome of the process, just like watching the goal highlights, but there is a building up process, repeated failed attempts at goal that many may not be aware of,” Yu explains.

Having a young team has its benefits and for Yu, it pays off well as he has a pool of people who are enthusiastic, energetic and in tune with the current trends in retail marketing.

“Planning the future of Imago with a young team is a factor, to a certain degree. They dare to take more risks with their ideas, experimenting with different concepts, and planning for way ahead in the future,” says Yu.

Yu associates Marketing and Communications or Marcom to midfielders, the link between front and back, where creativity and the flair comes in to make sure the public is aware of Imago, that tenants are receptive, and that Imago is excitingly, yet honestly represented.

“Though not as glamorous as Leasing and Marcom, Property Management is like the back four, defending. They quietly go about their nononsense and sometimes unpleasant business, such as switching on the chillers in the morning, cleaning up the mall when it closes and before it opens, unclogging toilets, manning the CCTVs, attending to patrons’ complaints, and a lot more.

They fade into the background when Leasing and Marcom are charging forward but they are definitely called into action when there are operational and technical issues.”

“And then, there is the goalie. Project Management plays this role. They create the stable foundation upon which the rest of the team flourishes. They build the mall, without which there is nothing to lease, nothing to market, and nothing to manage and operate. They are often the unsung heroes, praised if everything works as if a goal was prevented, hounded if they fail to achieve targets, as if failing to block a simple shot at goal.”

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but definitely look out for some creative ideas to emerge from the events department. We have over two floors of space with fantastic sea views so something like a street walk with pubs, bars and restaurants would be something exciting to explore.”

Yu emphasized that the work at Imago is not yet done. To him, a completed building, an opened mall, may be the end of one journey, but it is also start of another. He shared many ideas that he and his team still wants to implement, perhaps even experiment, in Imago. He contends that these ideas are still in the development stage so for now, the Imago team’s main focus would be to sort out all teething problems as soon as possible, with small, minor, but positive improvements to happen every day.

Having a young team has its benefits and for Yu, it pays off well as he has a pool of people who are enthusiastic, energetic and in tune with the current trends in retail marketing.

“I am not at liberty to say what other brands they will be pulling in in the next 6 months or a year

His Team

impossible, it’s just a question of showing the right character and attitude,” as he explains again in football terms.

This is central to what makes a project development successful and Yu is full of praise for his team who rose to the challenge and managed to accomplish the unimaginable. How do you give everyone a collective vision; how do you encourage them to work together when sometimes the objectives can be so different.

“Not easy!” admits Yu. “But it is also not difficult once everyone understands that it is actually something achievable, and within their grasp.

It is like outfield players understanding that getting a win when you are one goal down is not

“Don’t forget that a successful football team also needs backroom staff, like our Human Resource and Finance,” stressed Yu as if making sure that these people are not forgotten. “Like scouts, HR finds talents for Management to nurture, to train and to turn them into great individuals and team players. Finance is equally important, as it is there to make sure the financing and funds are well managed so that we may continue to grow stronger.”

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FEATURE PROPERTY EVENT| Iskandar Waterfront Holdings

Iskandar Waterfront Holdings To Increase Brand Presence In East Malaysia

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skandar Waterfront Holdings Sdn Bhd (IWH) was at the Magellan Sutera from May 9 – 10, 2015 for an exclusive showcase of their luxury developments in Johor, the Botanika and Aquaint Danga Residensi. This is the master developer’s second showcase in Sabah, after its successful debut last year, to increase awareness of property investment opportunities in the booming fast developing hotspot of Iskandar Malaysia.

Located in the exciting new waterfront city of Danga Bay in Iskandar Malaysia’s Flagship Zone A is Aquaint Danga Residensi, a 4.19 acres of mixed development comprising of 12 two-storey retail shop units as well as two 42-storey and two 43-storey residential towers totalling 818 waterfront units spread across four towers.

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Botanika is a low-density development spread out over 6 acres of lush greenery with themed gardens and resort facilities. There are only 70 units per acre with a spacious built-up area starting from 1,126 sqft to provide a delightful sense of tranquility amidst a modern and stylish living environment.

The continuing market sentiment of restrictive home loan policies, and post-GST effects have made buyers more cautious and spending more time mulling over their investment options. This has prompted IWH to increase its efforts to enhance awareness of its projects and bring them closer to potential buyers.

“The difference in crowd turnout this time round is very obvious compared to last year but this is beyond our control,” says Kelvin Kam, Head of Sales, Marketing& Asset Management-Danga Bay.

“But we are planning ahead on a long-term basis, beyond 5 years and doing more than just a 2-day showcase. We need to increase awareness and to be very present for buyers in East Malaysia to be familiar with us and our projects.”

Among the initiatives is to set up an office in Kota Kinabalu and Kuching to provide an avenue for buyers to get to know the projects and their construction progress to instill confidence in their investments.

“Based on feedback from visitors, some of them would like to have personal on-site viewing of the projects. People like certainty especially when dealing with economic matters,” adds Kam.

its local customer base. Opportunities to go on site visits of IWH’s Iskandar Malaysia projects are also available for buyers once they have made a booking.

The IWH exclusive showcase coincided with Mother’s Day weekend and there were some pleasant surprise gifts for mothers who visited during the 2-day event.

For more information on any of any these exclusive projects, please call:

KJ Lai : 012-738 6918 Jackson : 012-738 6553

The East Malaysia project offices which are planned for the second half of this year will help increase IWH’s brand presence and establish

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EAST MALAYSIA PROPERTY NEWS

Ministry To Address Public Housing Project Woes

Emulate Johor, Penang In GST Exemption Says Dr. Roland Chia

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he state Local Government and Housing Ministry will work with its federal counterpart in addressing shortcomings in government housing projects as highlighted in the Auditor General Report.

As reported by The Borneo Post, its minister Datuk Seri Panglima Hajiji Noor said he had yet to receive the full report on the projects that had been reprimanded but among the issues highlighted were the failure of the contractors to complete the project on time and in accordance with quality and standard agreed.

He said that they will respond to the reprimand once they have a full understanding of the problems highlighted, adding that they will study the weaknesses and improve what they can towards meeting the criteria suggested by the Auditor General.

Hajiji was speaking to reporters when asked to comment on the issue after attending the opening of the State Legislative Assembly sitting by Head of State Tun Juhar Datuk Haji Mahiruddin.

The ministry will work with (Federal Minister of Urban Well-Being, Housing and Local Government) Datuk Rahman Dahlan. The reprimand was about the delay in completing the projects. The departments involved shall be improved in terms of its administration.

A Bernama report quoted the

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The three projects were Pekan Kinarut PPR in Papar; Kampung Semarak PPR in Tawau and Lintas Sabuga PPR in Sandakan, involving a total of 1,725 units of housing and a combined cost of RM140.99 million.

The report also stated that the quality of work done by the contractors was unsatisfactory, but corrective action has been done after the auditor’s visit and the observation report issued.

According to the report, some of the construction design approved by the superintending officer and executed by the contractor were impractical, incomplete and inappropriate.

The report recommended that Sabah and Sarawak region (WSS) and the Urban Well-being, Housing and Local Government Ministry (KPKT) monitor and supervise the progress of work done by all contractors in order to ensure quality of work.

It also proposed that all project specifications and designs be refined in order to avoid further incomplete, inappropriate or impractical specifications resulting in additional government expenses.

Coordination between related government departments and utilities agencies should also be improved to avoid delay in completion of the project, the report suggested.

Tenant selection process should also be implemented and the list should be finalised earlier to enable immediate occupation by tenants right after the submission of PPR.

DBKK To Convert Old Library Building Into Menara DBKK

Dr. Roland Chia said, he salutes Johor Sultan Ibrahim Ismail, who recently said that it does not make sense as government services are a basic responsibility to the rakyat and it is unreasonable that the rakyat should be further burdened with paying GST on them.

Auditor General’s Report as stating that delay in completing three Public Housing Projects (PPR) in Sabah had affected the target group from enjoying the benefits on time.

Datuk Seri Panglima Hajiji Noor

Private Sector To Undertake Labuan Mega Project

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YB Dr. Roland Chia, the Inanam assemblyman and PKR Sepanggar chief

he Sabah Government should emulate the states of Johor and Pulau Pinang in exempting the Goods and Services Tax (GST) for its government services, Dr. Roland Chia, the Inanam assemblyman and PKR Sepanggar chief urged.

In a statement issued to the media recently, Dr. Roland Chia said, the Sabah Government should not absorb the GST, but instead must be brave enough to seek exemption from Putrajaya on GST for its government services, for example projects, services and contracts carried out by the local authorities.

The state should also waive the GST collected from the people on parking fees, rentals of land and buildings and any form of licenses.

According to him, the Sabah Government should take this opportunity to negotiate for more from Putrajaya since the Prime Minister himself, who is also the finance minister, had confessed that he owes the people of Sabah for his premiership during his recent trip to Sabah.

Sabahans should all the more enjoy this exemption since we are the top producers in oil and gas and crude palm oil. We deserve to be recognised for our role in nation building and development and for contributing much to the federal coffers.

“In the April 2015 State Assembly sitting, I had asked the Deputy Chief Minister cum Minister of Infrastructure whether SESB and the Water Works Department will or not impose GST on their tariffs.

Up until today, the question has not been answered,” Dr. Roland revealed.

“I hope the Prime Minister would make good on his words when he said that he owes much to the people of Sabah,” Dr. Roland said.

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abuan member of parliament Datuk Rozman Isli said the government and local authority will be working together with the private sector and investors to develop the duty-free island, especially involving its mega projects.

Rozman told the Borneo Post that some of the projects could be included in the 11th Malaysia Plan (11th MP), but projects such as the Labuan Integrated Port and Terminal Cargo located at the Rancha Rancha Industrial Area and next to Labuan Airport respectively would most probably be developed by the private sector.

“The projects to be included in the 11th MP are mostly about basic infrastructure such as roads and schools,” Rozman said, adding that road construction was vital to further spur the development of the oil and gas industry here in Labuan.

Rozman said they were focusing on implementing the whole blueprint for the development of Labuan, which would be realised by the private investors.

He said one of the projects in the blueprint was the restructuring and revitalisation of Labuan town, such as through expansion of the town area.

Labuan City “We are in the process of developing another marina bay at Tanjung Purun, located in front of the Tiara Labuan Hotel, where it would extend along the coast to the Tanjung Kubong area.

“Currently, we only have a public marina located next to the Billion Waterfront Hotel and we are planning to set up a few more marina points, whereby another marina will be located in Tanjung Kubong.

“Some land reclamation will be involved in this marina project,” he said, adding that a public park located next to the Labuan International Sea Sport Complex was in the process of construction.

Rozman also disclosed that in Kiamsam, some 75 acres of industrial land would be turned into an industrial park, while the land formerly occupied by the army at Kiamsam would become a centre for tertiary education with the setting up of more public and private campuses.

Another facility to be constructed here include the centres for Meeting, Incentives, Conference and Exhibition (MICE) activities, he said.

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he City Hall will build a tower known as Menara DBKK on the former site of the Sabah State Library.

In a media report, Mayor Datuk Abidin Madingkir said the old library building will be taken over fully by the City Hall. However, further details of the project were not revealed.

He said that all information such as when it will be built, the project cost and design of the building will be announced at a later date.

He was speaking after escorting Chief Minister Datuk Seri Musa Haji Aman on an inspection of the project site and the upgrading work at Padang Merdeka.

Also present during the inspection were Sabah State Secretary Tan Sri Sukarti Wakiman, Minister of Community Development & Consumer Affairs Datuk Jainab Ahmad, Minister of Special Tasks Datuk Teo Chee Kang and Assistant Minister to the Chief Minister Datuk Edward Yong (whose portfolio includes the City Hall).

The Mayor noted that the Chief Minister was satisfied with what the City Hall has implemented so far.

Meanwhile, the Padang Merdeka will soon have a fence around its perimeter to stop intruders from stealing or damaging facilities within the square.

Many juvenile delinquents gather at the Padang Merdeka to sniff glue. And a lot of money has been spent to build and beautify the Padang Merdeka so we need to take care of it well, he said while adding that the public can still use the area for useful recreational activities such as Tai Chi. The fence will be installed as soon as the allocation has been received.

The existing court house in the city will also be taken over by the City Hall when the judiciary relocates to the new Court Complex now under construction in nearby Luyang.

Earlier, Abidin gave the Chief Minister a briefing on developments in the City Hall including the level of cleanliness in the city.

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FEATURE INTERVIEW | Vijayakumar Tangarasan

which may prompt new startup businesses to delay setting up a physical office just yet.

are too big with space they don’t really need will find this concept very workable.

Benefits of a prestigious address

Intelligent Office Space of the Future Photo by: Louis Pang Studio

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ne of the most recognized names in professional office services, Regus, has opened its first branch in East Malaysia.

Regus is a multinational corporation that provides global workplace for travelling business people and can be found across 120 countries worldwide. It is also the ideal solution for startup companies, small businesses and multinational

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companies who need just the minimum amount of space to set up an office. It was founded about 25 years ago and has been in Malaysia for the last 10 – 15 years.

Vijayakumar Tangarasan, Country Manager Malaysia for Regus, spoke to Property Hunter about why Regus decided to set up a branch in Kota Kinabalu and what impact it can potentially have on the local commercial property market and how people do business today.

Making your office space work for you

“Why we decided to expand to East Malaysia now is because there is a need for office space that is flexible and available on demand.

We are in the business of providing offices, work space and ready-made services. Kota Kinabalu has a lot of oil and gas businesses, project based companies and multinational companies that need just

enough office space to run their operations and the flexibility of not being tied down to a long-term lease. Compared to Sarawak, Sabah is more active business-wise so this is why we chose Sabah as the entry point with the plan to expand into Labuan and Brunei from here,” says Vijayakumar.

Startup companies and small businesses that can’t afford to get into a Grade A office or even an office building where the office lots

Business is about image and you want your office address, location and facilities to reflect the level of professionalism you aspire to.

With its global network and capital assets, Regus brings a higher level of distinction with its location is the city’s commercial district, and positioned within a contemporary building with upmarket interior décor, fittings, furnishings and even coffee/tea making facilities.

The central feature of Regus is its internet connectivity which is kept at a very efficient level to cater to the demands of its clients.

And if you don’t want or need to have a physical office but want to impress your clients with a prestigious location address, you can opt for a virtual office.

“Our flexibility extends to those who may not even need a physical office to conduct their business,” explains Vijayakumar.

“This is our virtual office concept where you can have an office in one part of the country and open up opportunities in other cities in Malaysia, or even the world.

With a virtual office, you get the

benefit of professional services such as phone answering service, mail collection and an address.

You don’t have to be physically there or rent an office space yet still enjoy the advantage of having a distinguished address on your company collaterals and basic customer service to take care of your business communication.”

A primary importance of any Regus service office is it has to be located in prestigious localities that are easily accessible to basic amenities such as transportation hubs, shopping malls, entertainment and recreational centres. This often means CBDs or towns with a very active business community. The concept of mobile or virtual office may still be a novel idea, even for Kota Kinabalu which is State’s major financial centre, Vijayakumar is optimistic that business will pick up once they fully understand the concept and how to make it work for them. Since opening its doors more than six months ago, Regus is already running at 40 – 50 percent occupancy which is very encouraging.

Rising above the competition Despite this positive start, Vijayakumar is not oblivious of the fact that there will be competition for this type of services as the property market is still soft due to cooling measures and the impact of GST on the commercial sector

In this respect, Vijayakumar is confident that Regus is able to stay above the competition of small office space providers as they already have an established international network where as a member, you can walk into any Regus office in the world and receive the same level of professional service and attention. It sure beats working at a café for hours while nursing a cappuccino and tapping out emails on your laptop.

Another aspect about Regus is its potential to act as a supplementary income for real estate agents.

Vijayakumar pointed out that real estate agents can suggest taking up an office space at Regus for their clients who may not be ready to commit to an office lot just yet but still need an office space to work from. There is a ready market of entrepreneurs out there who work either independently or with a very small staff and they would be the perfect client base for a flexible, mobile and cost efficient office plan that doesn’t eat into their budget.

The commitment and quality shown

by Regus in outfitting its offices to typify a modern and functional working environment may also be a catalyst for existing commercial buildings to consider revamping their outdated office space to make them more appealing to international investors.

The demand for more innovative office space and working options in Kota Kinabalu is set to be a trend for the future if the government hopes to pull in more foreign investors to set up operations in Sabah. Regus has the brand presence and experience to set the ball rolling and we look forward to some exciting developments in the office market soon.

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WEST MALAYSIA PROPERTY NEWS

take up rate to date.

Sharing news and information about various issues related to the property industry from Peninsular Malaysia.

It is accessible via Middle Ring Road 2, Duta-Ulu Kelang Expressway, AmpangKuala Lumpur Elevated Highway and Mahameru Highway.

SCP Group To Launch RM1.65 Billion KL Traders Square

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It is located along Jalan Gombak, Kuala Lumpur and is approximately 7km from the city centre.

“Post-goods and services tax, there is uncertainty, not just in the property sector but across the board,” said group property division director Calvin Low. “But we believe that if you know how to position the development, it can still garner interest. Take for example our KL Traders Square, which had reached 50% sales even before the official launch that took place on May 9 and 10,” he added.

The project spans 17 acres of freehold land. It comprises 2,550 units of serviced apartments in five blocks (30-storeys) and 97 shop offices in three-storeys. The project has a total gross development value (GDV) of RM1.645 billion, with serviced apartments’ GDV at RM1.25 billion, while the shop offices’ GDV is RM395 million.

KL Traders Square artist’s impression

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Speaking to national daily The Star Online, Hoe Mee Ling, branch chairman of Johor Real Estate and Housing Developers Association, said that the RTS would be a catalyst with enhanced connectivity and more economic activities.

Facilities will be located on the eighth floor and include thematic gardens, a multipurpose hall with two indoor tennis courts and six badminton courts, a children’s playground, swimming pool and wading pool.

PROPERTY NEWS

Traders Square serviced apartments in the near future, as reported by The Edge Property.

Singapore and Johor Bahru is finally up-and-running by 2018 as projected in 2018.

The serviced apartment units will have built-ups ranging from 842 sq ft to 940 sq ft. It offers 3- and 3+1 bedroom layouts with 10ft ceiling height. The selling price starts from RM405,000 or RM480 psf. The maintenance fee is approximately RM0.20 psf, which includes the sinking fund. The units will have no furnishing.

WEST MALAYSIA

CP Group’s wholly-owned subsidiary, Radical Range Sdn Bhd is set to launch the first two blocks of KL

Iskandar Malaysia Zone B To Get RM42 Billion Boost

The first two blocks of serviced apartments (1,170 units) were soft launched in end-February and saw more than 50 percent

As for the shop offices, they will take up 3-storeys from the ground level. They will have built-ups ranging from 5,009 sq ft to 10,891 sq ft. They have selling prices from RM3.3 million. To date, there are only four units left to be sold.

KL Traders Square will be developed over four phases and is slated for completion in May 2019. Low added that the group hopes to launch the last phase before end-2016.

KL Traders Square marks the eighth project since the company started in 2011. Its first six projects are fully sold.

These projects comprise a mixture of shop offices, commercial units, terraced and bungalow houses, condominiums and serviced apartments.

SCP Group has another three projects in the pipeline in Cheras Selatan and Kota Kinabalu. It includes Cheras Traders Square, a 30 acre mixed development in Cheras with RM1.56 billion in GDV. In Kota Kinabalu, it has 96 units of 3-storey terraced houses (RM90 million GDV) and 200 proposed 2-storey terraced houses with RM100 million in GDV.

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skandar Malaysia Zone B is set for a serious development boost, according to an article by Asia Property Report.

The expansive plans for its Zone B have been unveiled and an announcement regarding the Malaysia-Singapore RTS Link is expected imminently from both countries’ leaders, it said.

Developer UEM Sunrise Bhd laid bare its plans for the Zone B parcel in Iskandar Malaysia during a press conference recently.

Dubbed ‘Gerbang Nusajaya’, the development aims to promote growth via catalytic developments and strategic partnerships, according to Anwar Syahrin Abdul Ajib, CEO of UEM Sunrise.

Iskandar Malaysia flagship zones 4,551 acres and will have a gross development value of RM42 billion (USD11.6 billion).

Containing developments such as the Signature Residences, Nusajaya Tech Park and FASTrack Iskandar, as well as affordable housing, retail parks and campus offices, the Gerbang Nusajaya project could be seen as the “new catalyst that will spearhead the next wave of growth in Iskandar Malaysia,” according to Brian Koh, executive director of DTZ Malaysia.

He said of the plans: “The unveiling of the comprehensive plans for Gerbang Nusajaya shows the vast potential that the area has to offer. As the master developer for Nusajaya, we are delighted to be working with our strategic partners to firmly establish Gerbang Nusajaya as the key gateway to Iskandar Malaysia.”

Projected figures for job creation would certainly support Koh’s statement. According to The Malaysian Insider, some 76,000 direct and 137,000 indirect job offerings are expected in addition to an estimated population of 220,000 upon the development’s completion.

The Malaysian Insider has confirmed that Gerbang Nusajaya would be developed over 25 years. The project will comprise

Iskandar Malaysia is set to get a further boost when the proposed Malaysia-Singapore Rapid Transit System (RTS) link between

Jointly announced by Malaysian Prime Minister, Najib and Singapore Premier, Lee back in February 2013, little progress appears to have been made regarding the RTS development to date although it is expected that Lee and Najib will make an announcement in Singapore during the 6th Malaysia-Singapore Leaders’ Retreat.

Samuel Tan Wee Cheng, director of KGV International Property Consultants, is certain that not only will the project boost the entire Iskandar Malaysia development but it can also be a huge relief to the thousands of Malaysians who face hours of congestion in the Causeway to and from Singapore every day, The Star Online reported.

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WEST MALAYSIA PROPERTY NEWS

Property Developer Fined For Cutting Trees this will not recur,” he said.

The clearing of trees

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property development company will face a fine of RM966,000 for cutting down 19 trees of more than 30 years at Melaka Raya in March.

According to Melaka Historical City Council (MBMB) secretary Mohd

Derus Che Mat, the company was also ordered to replant the trees within the given period of two weeks.

“We were informed that the company had hired a contractor to replant all the trees that were cut down at the designated spots and we hope that

“The state government is serious about this because Melaka is a green technology city,” he told reporters after the ‘Our Forest’ programme held in conjunction with Melaka’s 12th anniversary as historical city recently.

Previously, Bernama reported that Chief Minister Datuk Seri Idris Haron had fumed over the arbitrary action and said that the company had acted in self-interest without appreciating the state

government vision of a Melaka Green Technology City.

The trees, of the palm and Eugenia papillose varieties, were felled on March 25 between 10.30am and 6pm, with the use of a skylift.

In another development, Mohd Derus said MBMB allocated about RM7 million for maintaining and planting trees this year.

He said a total of 120,000 trees have been planted across the state for the past 10 years.

Tropicana To Launch Phase 1 Of Tropicana Aman million. It is due to be completed by 2018.

“The international school will be a catalyst for our buyers to buy properties at the Tropicana Aman development,” Tropicana group chief executive officer Datuk Yau Kok Seng told a press conference after the signing ceremony.

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Tropicana Aman Phase 1 artist’s impression

roperty developer Tropicana Corp Bhd has launched the first phase of its Tropicana Aman (formerly Canal City) mixed township in the vicinity of Kota Kemuning in Shah Alam, Selangor, as reported by The Edge Market.

The first phase of the development with a gross development value (GDV) of RM13 billion features 432 units of 2- and 3-storey terraced houses.

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Besides Tropicana Aman, the property developer is expected to launch two or three new projects in 2015.

Recently, Tropicana signed a partnership agreement with Tenby Schools to build an international school campus at Tropicana Aman. The construction cost is estimated at RM45

On the dispute over the group’s purchase of the land with the Selangor government and the terms of its settlement, Yau said, “All issues have been resolved”.

To recap, the Tropicana Aman land was initially sold by the Selangor government for RM587 million at a value of RM18.50 per sq ft payable in 12-year instalments to Tropicana’s wholly-owned subsidiary, Sapphire Index Sdn Bhd (SISB) in 2013.

Under that agreement, the state government was entitled to a 5 percent GDV share and 3 percent profit share, amounting to a total

of RM1.3 billion payable over 20 years. However, 11 months after the sale and purchase agreement was signed, SISB sold 308.72 acres (124.9ha) of land to Prominent Stream Sdn Bhd, a whollyowned subsidiary of Eco World Development Sdn Bhd, at a value of RM35 per sq ft or RM470 million, with a net profit of RM170 million.

After public uproar over the deal, the Selangor government renegotiated new terms of the land sale.

Recently, Selangor Menteri Besar Datuk Mohamed Azmin Ali was reported as saying that a new agreement had been signed.

It was reported that the new terms of agreement are that the state government is now entitled to a 9 percent share of the land GDV, with the payment period shortened from 20 years to 12 years, and that SISB is barred from selling the land to third parties.

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WEST MALAYSIA PROPERTY NEWS

Johor, Penang And Terengganu’s Council To Absorb GST can enjoy services from their local councils without paying the 6 percent GST.

Sultan of Johor

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ue to the initiative of Johor Sultan Ibrahim Ibni Sultan Iskandar, the people of Johor, Penang and Terengganu can breathe a sigh of relief knowing that they

In an article by theantdaily, Johor government has recently announced that all 16 of its local councils will absorb the GST charges for its services, including rent, parking, processing fees and changing titles.

The announcement follows a directive from the Johor sultan to the government to request an exemption for GST on public services.

The sultan reasoned that it was not logical to impose the tax on public services as it was the duty of the state government and local councils to provide free services for tax payers.

The absorption of GST by the Johor government will go a long way to show that the authorities, at least at the state level, really have a heart when it comes to helping the people.

Not only are the local councils absorbing the GST charges, they will reimburse and refund all the amount of GST collected during the first two weeks of implementation.

In addition, the Johor government is also going ahead with its request

that Johor local councils be given GST exception by the federal government. In the meantime, local councils from Terengganu and Penang have emulated the Johor government and have announced plans to absorb the GST charges on behalf of the consumers.

It certainly looks like the Johor initiative has inspired other states to follow suit. Only time will tell if it snowballs into a bigger movement that will involve every state in Malaysia.

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mall in the airport, Sepang International Circuit or SIC which offers Go Karting and Circuit Tours, Tanjung Sepat Town and Avani Sepang Gold Coast.

first quarter of 2015 and the final phase and expansion will be fully completed in 2021 and can accommodate a total of 260 shops.

recently.

It is the latest factory outlet in Malaysia which promises tourists and shoppers a whole new experience of shop at the largest Factory Outlet in South East Asia.

A news report was quoted to say that this place would be opening in the first quarter of 2015, presumably in April or May. When opened, the Mitsui Outlet Park KLIA will offer shoppers a total of 140 shopping outlets occupying a massive area of 25,000sqm. It is also strategically located just 6 km from Kuala Lumpur International Airport and the new KLIA2.

The Japanese Factory Outlet chain is reported to almost complete with the main structure already visible and the car park is ready.

The Phase 1 of the plan is scheduled to commence in the

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The massive project is conceptualised by a Japanese global architectural and design house called Nonscale. Highlights of the Mitsui Outlet Park in Malaysia will feature four distinctive concepts including Sunshine Square, Pier Walk, Tropical Plaza and Beach Walk.

In general, tourists and shoppers can expect discounts between 30 and 70 percent off normal retail prices of branded and luxury items in the outlet.

As for the list of tenants, nothing has been released but you can expect famous international and domestic brands offering fashion items, sporting and outdoor goods, lifestyle items and many more.

On a side note, you can expect top and popular Japanese brands there as well.

It was also reported that more than

MFMA Development Sdn. Bhd. is 70 percent owned by Mitsui Fudosan and 30 percent owned by Malaysia Airports. MFMA will lease the land owned by Malaysia Airports, and will be responsible to construct the buildings, and lease it out to tenants. It will also be tasked to promote this project.

Artist’s impression of Mitsui Outlet Park 240 famous international designer brands were invited based on their presence in existing Mitsui Outlet Parks in Japan and China.

For the travelers’ convenience, there is plan to provide a shuttle bus service from KLIA to the venue and back.

Apart from that, check-in counters and flight information display boards will also be set up as these are in the pipeline for the venue.

A modern and stylish food court is also one of the consumer products that will be available like what has been emphasized in all the other Mitsui Outlets in Japan. There may also be world-class restaurants.

Located a stone throw from the outlet are the Gateway at KLIA2 which is an integrated shopping

The Mitsui Outlet Park project consists of an approximate 44 acres of land in Sepang. The gross development cost is estimated at RM334.4 million and Mitsui Outlet Park will be developed in three phases, with a total lettable area of about 46,300 square meters upon full completion in 2021.

For more information you can visit Mitsui Outlet Park KLIA website.

beyond RM400,000 per unit and the project was good for show only.

Azmin said the federal government could not ask Selangor for its land and then proceed with polices that went against the state government’s position on affordable housing.

Penang local councils will start from July 1 while Terengganu’s decision will take effect immediately.

Terengganu will also reimburse all GST collected.

Mitsui Outlet Park KLIA To Be Opened This Year itsui Outlet Park KLIA is said to be opening this year, as published in Malaysia-Asia blog

PR1MA Now Chasing Profit, Says HBA

Chang said when HBA first mooted the idea of having an affordable housing scheme six years ago, it was for the government to utilise its land bank to build houses at construction costs.

P

National House Buyers Association (HBA) official website

R1MA Corporation Malaysia (PR1MA) has strayed from its objective of building affordable homes in urban localities and instead has become profit-oriented, and going into joint ventures with private developers, the National House Buyers Association (HBA) said in a report by The Malaysian Insider.

Its secretary-general, Chang Kim Loong, said the corporation under the Prime Minister’s Office has relaxed many of its housing requirements and allowed private developers to come in as joint venture partners.

“We know these private developers are profit-oriented and they are not there to do charity. Therefore, why should PR1MA share their cake with them?”

Chang said it has increased the ceiling price of a house from RM350,000 to RM450,000 last year and allowed second-time buyers to purchase PR1MA units.

“The aim is to construct affordable houses but now the ceiling price has shot up to RM450,000. “Why open it up for second-time house buyers when there are insufficient houses for first-time house buyers in the market?” he told the Malaysian Insider.

Chang said PR1MA’s goals had gone awry because it had been hijacked by politicians.

He was responding to a statement

by Selangor Menteri Besar Mohamed Azmin Ali that the state was amenable to giving land to Putrajaya for construction of houses under PR1MA only if the federal government met its conditions.

Azmin said Selangor had never rejected the housing scheme as alleged by certain quarters but had reservations about it.

“The issue is PR1MA was developing homes that were too costly for the people, RM400,000 is not affordable,” he said to the media.

Chang said Selangor had its own housing scheme which was “very affordable”.

Last December, Azmin said Selangor was planning to build affordable homes priced between RM100,000 and RM220,000 for the people and called the federal government’s PR1MA project a failure.

He said until now, not even one home under PR1MA had materialised, prices were pegged

A press statement last month by PR1MA chairman, the late Tan Sri Jamaluddin Jarjis, said the corporation had approved 111,933 units, of which 37,063 units were under construction.

He had said 10 more projects would be launched in the second quarter of this year. The homes are offered to Malaysians with an average monthly household income of RM2,500 to RM10,000.

“However, profiteering has since set in and now PR1MA is even allowed to form joint ventures with private developers.

“The excuse is that they do not have the technical know-how. If that is the case, why not just employ professional consultants?”

Chang said in developing government land banks, it would only incur minimum cost to engage professionals as the land was obtained at nominal value.

He said PR1MA had a list of developers and HBA wanted the corporation to verify whether some of their joint venture partners were blacklisted.

Chang added that from information received,PR1MA only wanted to build 40 percent affordable homes and the balance would go to highend luxury houses.

“Should not the bulk of the land be set aside for affordable homes?”

PR1MA was set up in late 2012 to provide affordable housing for middle-income urban residents.

It received 500,000 applications for 80,000 houses as the end of last month.

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WEST MALAYSIA PROPERTY NEWS

Property Investors vs Property Businessmen: Who Pays GST?

T

he secondary property market is primarily made up of the investment community. These are the people who have invested in a property to derive rental, and eventually dispose it to obtain capital gains. The question is, do they pay GST? According to an article by EFY (an online publication), tax consultant KP Bose Dasan stated that the Income Tax department is very clear on the issue.

He said, “we have the Real Property Gains Tax (RPGT) which is for capital disposal and the income tax for anything which is in income or revenue in nature, however for GST in the secondary market, there is no clear separation, which what is seek from the Customs.”

However, the clarifications from the Customs department are highly crucial as sales have been affected.

“Sales are being abandoned as investors are afraid of paying GST. For a property worth RM2 million, the GST comes up to RM120,000.

Investors are not willing to pay that amount, which to them seem

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exorbitant,” said Bose.

As for leasing and collecting rent, if the amount is more than RM500,000, GST is imposed.

“However, for investors who own one or two units, and sell them in a one-off transaction, and where we clearly cannot label them as an enterprise-recognised continuity, the law clearly states that it is an investment. It’s capital disposal and is not subjected to GST,” he explained at a recent press conference organised by the Malaysian Institute of Estate Agents (MIEA).

When questioned on whether an individual who owns a shop lot and sells it to another individual is subjected to GST, Bose said, “Customs will ask the seller how long was the property in his possession. Let’s say 10 years.”

“So the badge of trade will show that this is held for investment. Although it is a commercial property, but the owner has held it for 10 years and derived rental income from it; thus, this

is clearly for investment.

And if you follow the scope of chart for GST, this doesn’t satisfy one of the 4 elements of GST - it is not in the course of business,” he clarified.

To identify whether it is an RPGT-transaction or income tax-transaction, the Income Tax department applies 9-10 badges of trade.

However, if he is in the business of developing, buying and selling a property, then yes he has to pay GST. “For instance, when a developer buys a land, he wants to develop to sell; therefore, he is definitely in the course of business.

“They (Income Tax department) recognise that many companies hold investments, means its nonbusiness. These companies derive income from bonds, interest incomes from their shares, and rental and dividend income from their properties. This is clear cut delineation of investment income.”

A property dealer who speculates, and buys to sell is subjected to GST because he is going to turn over the property and that is trade. He will hold the property for less than 3 years. This is in the course of business,” spelled out Bose.

Some of the countries that have successfully implemented GST have made it very clear about imposing GST. “In Australia for example, if you are an enterprise buying a property and leasing it for 5-10 years, it is in the course of business because it is the leasing of a commercial property. Alas, In Malaysia, we haven’t got such an explicit statement yet,” he mentioned.

They also have a clear section called investment holding company, pointed out Bose.

“Now anyone who is under the ambit of income tax would think that since he is deriving investment income, how does the GST affect him? These questions are constantly in the mind of investors and when not properly addressed, could have an adverse effect on the secondary property market,” warned Bose.

“We can already see this happening as investors have begun holding back investment. Transactions are getting affected simply because they are not very clear about GST and how they are subjected to it, which in turn has a dire effect on the sales of secondary property,” he alerted.

Then there is the scenario of individuals selling their shop lot to a company for their own use. Is GST applicable here?

Answering that, Bose said, “We only look at it from the perspective of the seller. Is the seller in the business of selling property? Many of these owners are not in the business, they just invested in it. So there is no need to pay GST. Whoever buys is immaterial,” he described.

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63

INTERNATIONAL PROPERTY NEWS

Australian Investment Needs To Be Thought Carefully

Singaporean Developer Is Melbourne’s Newest Kid On The Block

the wrong property, buying into the wrong location, buying without a full understanding of the costs involved and thus face the problem of lack of funds and possible forfeiture and worst still breach of contract.”

INTERNATIONAL

Perth is one of the more popular Australian cities for Malaysian property investors due to its close proximity Australia has been a popular destination for many Malaysian investors who desire to diversify their property investment portfolio offshore due to its close proximity to Malaysia which is only five to eight hours flight away, says property industry observer Sandra Chan.

PROPERTY NEWS

Catch up on the latest property and real estate news, views and analysis from across the globe featured

Sydney Darling Square Apartment Sells Out In 5 Hours at Launch interiors will have expansive northfacing harbour and city views.

Residents will share an open-air heated infinity pool, deck, gym, grassed areas and barbecue facilities.

A

Artist’s impression of Darling Square Apartment @ Darling Harbour

ll 581 apartments were sold within five hours at the launch of a new development in Darling Harbour on Saturday 23 May, 2015.

Buyers queued from 8am and forked out more than $600 million to secure a slice of the Darling Square project.

Even the two penthouses found buyers who paid more than $10 million each to nab the top spots in the development.

“It’s amazing,” said managing director of urban regeneration for Lend Lease, Jonathan Emery. “We’ve

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had a huge turnout. There was a great level of excitement.”

Mr Emery said Lend Lease had brought forward this second release of 581 apartments in their Darling Square project following the first release of 538 apartments last year which also sold out in a day.

Lend Lease’s Darling Square project is a mixed-use development of three buildings, including retail, commercial and public spaces. It is part of the $3.4 billion revitalisation of Darling Harbour.

The Alex Tzannes-designed apartments with Bates Smart

When complete, Darling Square will have about 1500 apartments, 4200 residents and 2500 workers.

Prices ranged from $800,000 (RM2,320,000 or RM4640 per sqft) for a 50 square metre (500 sqft) one-bedroom apartment, to $10 million-plus for the 400 square metre four-bedroom penthouses.

“We have introduced the sky-home apartments this time which are larger,” said Mr Emery. “The mix is more three- and four-bedroom apartments. They’ve sold very strongly.”

Mr Emery said the emergence of urban living is crossing boundaries.

“It’s not just singles and young people. There’s a great diversity of buyers coming to the inner city for its convenience and amenity.”

The chairman of residential at CBRE, Justin Brown, said there was a generational shift towards living in the centre of the city, with Darling Square, Barangaroo, the redevelopment of Circular Quay and the proposed George Street tram all key drawcards.

But competition to live in the CBD will be stiff, he said.

“The CBD is the most undersupplied marketplace in Australia.”

The apartments sold on Saturday are due for completion in 2018.

“We have one more release planned,” said Mr Emery.

“We’ll reflect on customer feedback to evolve our next release.”

In a feature published in The Borneo Post on the topic of Australian property investment, Chan who has invested in Malaysia and Australia and also a developer and project manager for developments in Australia, commented that the weakening ringgit allows investors to look at hedging their assets and savings.

Australian’s property environment is also unique, interesting and is very conducive in that the rental demand for family housing is very stable and strong, and in many good locations, there is low rental vacancy rate, as low as one to two per cent.

Having said that, however, many people just plunge in and invest in Australia by buying the first property they see in exhibitions and roadshows without having first some basic knowledge and guidelines causing them to face problems and difficulties after buying their property in Australia.

Chan, who is also the founding director and CEO of Asia Access Group and Asia Investors Group noted that, “Some of the common problems people face are buying

The other problems most investors face are inability to obtain financing after they have purchased their property and getting assistance from the people who shared the investment with them.

“This is frustrating to most investors but is not as bad as losing money in investing in Australia.

Yes, people do lose money investing in Australia if they invest wrongly. The other problem is that people are unable to sell their property later on and there is no exit strategy to their investment,” Chan added.

Malaysian investors who wish to invest in Australia cannot apply the same knowledge and understanding that they have had in their investment in Malaysia to Australia. A change of mindset is required for one to invest successfully in Australia.

In addition, there are micro and macro factors that affect the investment and it is important to consider them when one chooses a location to invest in. Thus, having an understanding on selection of the right suburbs, estates, configuration, layout and design and builder is pertinent to one’s investment and rentability in the short term and ultimately capital gains in the long term.

A

Far East Organization executives (from left) chief operating officer Lay See Shaw, executive director Augustine Tan and chairman Ai Lian Fang in Melbourne

ccording to Asia Property Report, Singapore’s Far East Organisation is finally making an entry into the Australian housing development sector, after years of planning.

Quoting from The Sydney Morning Herald, the privately held developer had acquired an estate in St. Helena, located in the rolling hills near the Kinglake range in northern Melbourne, some 22 km away from the central business district.

The new integrated residential development by Far East will be among the first master-planned communities in Australia from an overseas property group. The bulk of the property was acquired by Far East CEO Ng Teng Fong in the mid-1980s and additional land was bought in the last couple of years.

“Now we’re looking beyond our Southeast Asia footprint. We have been very active in Australia in the past two years,” Fang Ai Lian, chairwoman of Far East’s Australian division, told the newspaper.

“All in all we have committed AUD1.3 billion (USD1.01 billion),” she added.

About AUD180 million (USD139.44 million) budget will be used for the St. Helena housing project, which now comprises a total of 19 hectares.

Meanwhile, The Australian reported that upon completion, the property is expected to have some 250 homes and apartments, with a formal sales launching by year-end.

Fang told media that the company is also looking for more Australian investment opportunities in other segments, such as hotel, commercial and retail to accomplish its goal of becoming a major longterm player in the country.

Far East currently has a large Australian commercial portfolio in Sydney, and its subsidiary Far East Hotels manages several hospitality properties in Brisbane, Adelaide, Sydney, Darwin, Perth and Melbourne.

The property group also plans to list one of its business units on the Australian stock exchange in the future, similar to Far East Hospitality Trust’s listing in Singapore, per The Australian.

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INTERNATIONAL PROPERTY NEWS

8 Signs a Suburb Is About to Surge In Value In Australia

N

ila Sweeney, the managing editor of Your Investment Property (Australia’s leading property investment magazine) has recently written an article on 8 signs a suburb is about to surge in value.

She wrote that understanding the factors that trigger price growth helps ensure you pick a winning investment at the right time.

When it comes to investing in property, capital growth is king.

While income helps you hold on to your investments over the long term, it’s capital growth that will have the most impact in the end.

In order to grow your property portfolio quickly, you want to get into the markets that are about to surge in value, to ride the upswing and the resulting growth.

According to Sweeney, those are the 8 early signals you should watch out for.

1. The average days on market are falling If demand exceeds supply, buyers will quickly snap up available property, so the amount of time a property spends on the market drops, resulting in low average days

on market.

2. Level of discounting drops If demand is on the rise, vendors are no longer compelled to offer discounts to attract buyers.

3. More properties are being auctioned off Real estate agencies will often sell properties by auction when the demand for property is strong. This allows potential buyers to outbid each other and push prices up for the seller. So a rising number of auctions and high auction clearance rates may be a sign of a market heating up.

4. Falling vacancy rate A low vacancy rate means there is a shortage of rental accommodation for the number of tenants in the market. Generally, a 3 percent vacancy rate indicates that a market is balanced. A rate below that means there is a shortage of rental properties, and above it means a surplus.

When the vacancy rate starts to fall, this often results in higher rents and an increase in prices as investors move in to take advantage of higher returns.

5. Rising yield A high yield is a precursor to capital growth, according to Jeremy Sheppard of DSRdata.com.au.

“Tenants are more agile than owneroccupiers,” he says.

“When a location becomes popular, tenants will be the first to move there, which places stronger demand on rents, initially pushing them up.

“Then investors wade into the market, attracted by the higher yields. And then the owneroccupiers finally get their act together. Some of the renters by this stage may decide to buy. All this buying activity now places pressure on property prices.”

6. The level of stock on market is dropping A low level of available properties up for grabs in an area means that owners are not willing to offload their properties and anything that comes online is quickly snapped up by buyers.

7. High level of online interest If there are a large number of people searching for property in a location where there is not much property for sale, this could indicate

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67

COFFEE TALK | Charles Tan

The Good Debts, the Property and the Degree

E

Charles Tan

Happy ‘GST’ thinking if you still think GST is the main reason for buying or not buying.

3 Signs of a Property Bubble safe. We do not need to look very far, just compare to Singapore. The Singapore government has undertaken many more cooling measures than Malaysia. Yet, the prices of HDB Flats of 1,000sf or higher, even at the fringes are hitting S$400,000 or higher. Please do not say Singaporeans earn more. Number to number, their engineers earn the same as engineers in Malaysia. This can be verified easily online as well.

O

n and off, there are comments on Facebook which predicted that Malaysia’s property bubble is about to burst. Currently, the most popular prediction is that of Iskandar. Actually, the main reason for all the cooling measures by Bank Negara Malaysia (BNM) is to contain any danger of a property bubble building up. So, do you want to know how to spot a bubble?

Actually, there are always some warning signs before a huge bubble starts to form. In fact, it may be easier for you to spot it than to listen to all the conflicting opinions today. Let’s look at three prominent signs for a property bubble.

1. Sharp and continuous house price increase If prices are increasing or even doubling in say 3-4 years, this is considered extremely sharp. Imagine a RM300,000 property suddenly becomes RM600,000 in 4 years?

There is just no way that your salary would be able to catch up. Two years ago, the

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3. Bad Debts? property prices in Malaysia was ranked top 12 in the world in terms of price increase.

Read here: ‘12th Highest Growth in the world‘ In terms of changes for the past 10 years. It clearly shows that prices have indeed been rising but has not shown any sharp increases for the past few years, except for certain segments in certain locations. Overall basis, I think not yet.

2. Affordable choices availability This is extremely important. Imagine you are earning RM3,000 and every single property in Klang Valley is priced RM500,000 or higher. Would you be able to buy any property at all? Fortunately this is not the case. I do not want to go into the low cost flats but if we go online to any property websites like PropertyGuru. com.my or Iproperty.com.my, we could see that even at the lower range of below RM300,000 there are still many choices.

Thus, in terms of availability of affordable properties even if it’s not at a hotspot, at this point in time, we are considered

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

If we refer to the chart by Worldbank, for Malaysia in particular, this is not yet happening. In fact, the total nonperforming loans continue to decrease.

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

veryone loves good debts, or at least believe that they should accumulate good debts. Of course, some believe no debt would be best if one wants stability. After all, even if one has good debts such as property, one is still open to property price fluctuations during bad times. More importantly however, did we accumulate more of the good debts so that these good debts can continue to build on top of itself and your good debts continue to become better debts? Do note that savings is an extremely important element for you to tap on so that you can increase your good debt. When was the last time you saved MORE? :) Property investment is a great way to accumulate good debt IF you were not simply buying and happened to buy at the highest price per sf ever thinking it will go even higher. If the price does go higher, then lucky you. If it does not, you would have to restart all over again.

Buying good stocks is also another way and if you bought that stock because someone told you that it will be going up very soon, I wish you luck. It’s better to understand a little bit about the company you are buying and think longer term.

It should beat your FD’s return over time.

Another good debt many people talk about is education. However, in terms of education, for example a Masters Degree, this is a neutral area. If you can afford it, why not?

Just understand why you wanted it in the first place. If you think a Masters Degree will push you up the corporate ladder, think again.

However, when an organisation is deciding on the better candidate when they have two, guess who would be chosen if one has just a degree and another with a Masters? PHD is another thing altogether, perhaps applicable only in niche positions. Master degree is however a good plus point. Don’t believe? Take a look at the job ads for senior manager and you would understand why.

Many would tell you, education is not important. Look at many of the billionaires, so many of them were university dropouts.

The only reminder I would like to offer would be to take a look at the majority of those who do well today. Many of them had a faster and better start because they had a degree in the first place.

Without one, you may not even get to start. Again, just look at all the job advertisements today for any senior executive positions and all the way till senior management.

When I started many years ago after my first degree, my position was immediately 3 levels ahead of my senior who had only a diploma. 3 levels ahead meant I started at 9 years ahead. This is a fact of life. In fact studying for a degree is so easy these days that if one is not pursuing one, the only reason is just laziness, nothing else.

Yes, good debt includes not just investing in physical assets. It includes investing in the best asset too; yourself. Happy getting more good debts.

Wait. Only Buy When Property Bubble Bursts?

I

have a friend who earns a very high salary. In fact amongst all my friends, I think he is ranked second highest. He knows that I love properties and he told me confidently that he is now keeping his money in FD so that when the bubble bursts, he will enter the market and buy.

I said, great, so at what price would you enter? He paused and said ‘when market is low enough’. I asked, when he said low, does he mean 10% down?

20% down? 50% down? He said, ‘of course as low as possible lar’. He concluded, “Have to wait till bubble bursts before I know what price I will enter.”

he will not be persuaded to buy unless the bubble bursts.

I really hope when the bubble bursts this friend would really cancel his FD and enter the market because buying during crisis means that your profit would be very high once the market recovers. From history, we have learnt that in terms of property, except if the property is in the middle of the desert, most of the time, it will continue to go up again even if slowly.

However, he has yet to make a decision as to when he would really enter the market. He does not even read about properties and said that all these news are basically telling you to buy and

The expectations must also be set right, just like if you enter the share market, never say I want to buy when it’s low.

We may want to specify and adhere to what we term as low.

If we intend to sell when we already have profit, we should sell. Let’s not have the mindset of, “I will sell when the price is up to my expectations.” Yeah, of course I may be wrong. My idea of investment remains that we must go in with both our eyes open and our brain ready with some risk calculations / acceptance.

Of course, this friend of mine is already very rich and in fact will probably be very rich even if he does not enter the property market. Even leaving his money in FD would earn him enough and his EPF is likely to be huge when he retires. The only thing I would like to reiterate is this - he could be much richer if he has property investment.

Yeah, there are risks definitely versus FD but I am willing to make a calculated one. Yes, he is ready to buy too as soon as the property bubble bursts sometime in future.

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APARTMENT FOR SALE

70

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Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

71

PROPERTY LISTING |SABAH

APARTMENT FOR SALE

72

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

www.PropertyHunter.com.my

73

PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

74

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

CONDOMINIUM FOR SALE

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

75

PROPERTY LISTING |SABAH

TERRACE / LINK HOUSE FOR SALE

76

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

www.PropertyHunter.com.my

77

PROPERTY LISTING |SABAH

TERRACE / LINK HOUSE FOR SALE

78

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

COMMERCIAL FOR SALE

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

79

PROPERTY LISTING |SABAH

SEMI - DETACHED HOUSE FOR SALE

80

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

SEMI - DETACHED HOUSE FOR SALE

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

81

PROPERTY LISTING |SABAH

BUNGALOW / VILLA FOR SALE

82

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

OFFICE SPACE FOR SALE

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

83

PROPERTY LISTING |SABAH

RETAIL SPACE FOR SALE

84

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

AGRICULTURAL LAND FOR SALE

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

85

PROPERTY LISTING |SABAH

APARTMENT FOR RENT

86

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

www.PropertyHunter.com.my

87

PROPERTY LISTING |SABAH

CONDOMINIUM FOR RENT

88

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

CONDOMINIUM FOR RENT

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

89

PROPERTY LISTING |SABAH

CONDOMINIUM FOR RENT

90

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

www.PropertyHunter.com.my

91

PROPERTY LISTING |SABAH

CONDOMINIUM FOR RENT

92

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

TERRACE / LINK HOUSE FOR RENT

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

93

PROPERTY LISTING |SABAH

COMMERCIAL FOR RENT

Extracted from PropertyHunter.com.my

EAST MALAYSIA’S LEADING PROPERTY PORTAL, MAGAZINE & EXPO

94

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

95

PROPERTY LISTING |SARAWAK

TERRACE / LINK HOUSE FOR SALE

RESIDENTIAL LAND FOR SALE

SEMI - DETACHED HOUSE FOR SALE

96

Extracted from PropertyHunter.com.my

APARTMENT FOR SALE

Extracted from PropertyHunter.com.my

BUNGALOW / VILLA FOR SALE

Extracted from PropertyHunter.com.my

COMMERCIAL FOR SALE

Extracted from PropertyHunter.com.my

CONDOMINIUM FOR SALE

Extracted from PropertyHunter.com.my

Extracted from PropertyHunter.com.my

Extracted from PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

97

PROPERTY LISTING |SARAWAK

APARTMENT FOR RENT

Extracted from PropertyHunter.com.my

COMMERCIAL FOR RENT

Extracted from PropertyHunter.com.my

CONDOMINIUM FOR RENT

Extracted from PropertyHunter.com.my

OFFICE SPACE FOR RENT

Extracted from PropertyHunter.com.my

TERRACE / LINK HOUSE FOR RENT

Extracted from PropertyHunter.com.my

WAREHOUSE FOR RENT

Extracted from PropertyHunter.com.my

98

*Listing are accurate at the time of print. Kindly contact the respective agents for updates.

For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my

www.PropertyHunter.com.my

99

100

www.PropertyHunter.com.my