Property Hunter Magazine

EAST MALAYSIA’S LEADING PROPERTY PORTAL, MAGAZINE & EXPO

PLAZA SHELL

A NEW CITY SKYLINE IN KOTA KINABALU Casablanca Residence: A Nostalgic Address With An Attachment Of Peace & Security | Kota Kinabalu’s most anticipated properties: Kingfisher Inanam & Kingfisher Putatan | Br-X1 Skeleton Chronograph Limited Edition Of 250 Pieces | Chris Tan - 7 Factors As Property Investor

ISSUE 74 RM9.50 (Inc GST)

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contents Property SHOWCASE

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CASABLANCA RESIDENCE: A Nostalgic Address With An Attachment Of Peace & Security

hot topic

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PLAZA SHELL: A New City Skyline In Kota Kinabalu

Property SHOWCASE

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KINGFISHER INANAM & KINGFISHER PUTATAN

interview

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DR. DANIELE GAMBERO

hot topic

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7 FACTORS AS A PROPERTY INVESTOR

hot topic

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Property Investment In 2016: Should You Hold Or Be Bold?

hot topic

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2016 PROPENOMY OUTLOOK FOR MALAYSIAN PROPERTY MARKETS

Property SHOWCASE

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AFFINITY: Be A Part Of Incredible Perth With Affinity At The Springs

hot topic

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PROPERTY HUNTER MILESTONES: A look back into Property Hunter’s achievements since its inception

event

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A New Commercial Area for Beaufort Town Is Finally Here!

lifestyle

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TIME: BR-X1 Skeleton Chronograph Limited Edition Of 250 Pieces

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DRIVE: The New BMW 3 Series Grand Merdeka

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FURNISH

event

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GRAND MERDEKA Go Big, Go Grand

property news the coffee talk property listing

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PROPERTY, INVESTMENT & BANKING NEWS • •

The story of coffee and property Hard for property prices to go down, lah!

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PROPERTY SHOWCASE

CASABLANCA RESIDENCE

A NOSTALGIC ADDRESS WITH AN ATTACHMENT OF PEACE & SECURITY Development By Kinsabina Group Of Companies

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PROPERTY SHOWCASE

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he first of its kind in Kota Kinabalu, Casablanca Residence, is a gated and guarded community with 24-hour security at entry and exit points for a contemporary lifestyle off Jalan Kolombong. Casablanca Residence’s comprehensive clubhouse amenities and strategic location

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will be favourable to homebuyers. This landed development is located 8 km from the City Centre and situated within a densely populated residential hub. Casablanca Residence is adjacent to Taman Casa Palma with access from Jalan Kolombong passing by Taman Dai Ming.

taman CASABLANCA At A Glance Project Name

: Taman Casablanca

Address

: Off Jalan Kolombong, Kolombong

Property Type

: Terrace House & Semi Detached House (94 units)

Land Area

: 11.5617 acres

Tenure

: Leasehold 99 Years

Price Range (RM) : 2 storey terrace house from 788,000 onwards 3 storey terrace house from 973,000 onwards 3 storey semi-detached house selling at 1,539,000 Maintenance Fee (RM) : Service fee 250/ month + sinking fund 50/ month

2 Artist Impression of 3-storey terrace house Artist Impression of clubhouse swimming pool

The well-planned landed development comprises of 92 units of 2-3 storey terrace houses and 2 units of 3-storey semi-detached houses. Every unit comes with a wet and dry kitchen and a spacious private balcony to create the ultimate livable space at home. From a spacious floor area of 2,293 sqft to 2,842 sqft, Type 2B and 3B have 5 bedrooms and 5 bathrooms. A typical 2- storey unit terrace house consists of 4 bedrooms and 3 bathrooms with a minimum land area of 1,694 sqft while a typical 3-storey unit terrace comprises of 5 bedrooms and 4 bathrooms. A 2-storey terrace house price ranges from RM788,000 onwards while a 3-storey is priced at RM973,000

Land Area & Range : 2-storey terrace (2,294 sqft) 3-storey terrace (2,804 sqft) 3-storey semi-detached (3,869 sqft)

onwards. All 94 units of Casablanca Residence come with readily available subdivided titles.

Facilities & Amenities : Gated & Guarded Property • Swimming Pool & Children’s Pool • Playground • Basketball Court • Badminton Court • Club House • BBQ area • Gymnasium

Expected Completion Date: 24 months upon signing Sales & Purchase agreement

A clubhouse is provided for community-based activities in a safe and welcoming environment. The clubhouse is erected on 5,970 sqft of open space is completed with a half size Olympic swimming pool, a children’s pool and a basketball court. The 2-storey club house comes complete with a gymnasium, sauna, yoga deck, reading room, cafe, management office, multipurpose hall and meeting rooms.

The clubhouse will be an asset for many home buyers who are looking for added facilities to complement their landed properties.

Main Attractions, Public Transports and Amenities Nearby: Just minutes away to Kota Kinabalu City Centre Tun Fuad Park, Metrotown, Jesselton Medical Centre, Giant Kolombong, City Mall

Shell

Mitsubishi Motors

Land Rover & Ford Showroom

Metrotown

Jalan Lin tas

fro mT am an

+6088-721 777 / 999

BD C

mb on

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BSA Futsal Kolombong

Taman BDC

Kolo

For registration and enquiry: Wisma Kinsabina, Noosob Baru, KM7, Jalan Penampang, 88300 Kota Kinabalu, Sabah, Malaysia

Che Hwa Primary School

Taman BDC

Taman Casa Palma

from

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Taman Kolombong

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PROPERTY SHOWCASE

THE RIVERSIDE RESIDENCE

A HIDDEN GEM WITH GREAT ACCESSIBILITY The Riverside Residence @ Sodomon sits on 2.9 acres of land and is conveniently located in Kampong Sodomon. It is easily accessible and minutes away from the Vegetable Wholesale Market, City Cyber Commercial Centre, Kota Kinabalu International Airport and the city centre.

notable features for style and comfort. A typical unit comes with a 3 bedroom and 2 bath. A Type A unit with 955 sqft ranges from RM450,200 to RM503,200 while a Type B unit with floor area of 1,175 to 1,180 sqft ranges from RM 551,900 to RM598,900.

A joint venture between Kinsabina Sdn Bhd and 1CKC Development boasts a low density of 134 units sqft to a luxurious 1,180 sqft of space with

These hidden serene property is heralded by panoramic views of paddy fields and will revive the landscape of Kepayan.

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The riverside residence At A Glance

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Project Name

: The Riverside Residence

Address

: Kampung Sodomon; Adjacent to Cyber City

Property Type

: 3 blocks of 6,7 and 8-storeys of Low Density Condominiums (134 units)

Land Area

: 2.9 acres

Tenure

: 99 years

Price Range (RM) : Type A : 450,200 to 503,200 Type B : 551,900 to 598,900 Average Price Per SQFT (RM) : 480 psf Maintenance Fee (RM) : Type A : Service fee 300/ month + sinking fund 50/ month Type B

: Service fee 400/ month + sinking fund 50/ month

Land Area & Dimension Range : Type A : 955 sqft Type B : 1,175 to 1,180 sqft Facilities & Amenities: Swimming Pool & Children’s Pool • Playground • Shaded Car Park • Lift • 24-hour Security • Fitness Centre • SMATV-HD Ready • Indoor Games Room • Access Card System Expected Completion Date : 2017 3 1.

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Artist Impression of entrance to Riverside Residence Artist Impression of Riverside Residenece aerial view Artist Impression of river view adjacent to Riverside Residence

Main Attractions, Public Transports & Amenities Nearby : 200 m walk to Vegetable Wholesale Market 200 m walk to Cyber City Commercial Centre 10 minutes drive to Kota Kinabalu International Airport 10 minutes drive to SMK Datuk Peter Mojuntin

For registration and enquiry: Wisma Kinsabina, Noosob Baru, KM7, Jalan Penampang, 88300 Kota Kinabalu, Sabah, Malaysia

+6088-721 777 / 999

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PROPERTY SHOWCASE

TIMBOK JAYA APARTMENTS

APARTMENTS WITH CONDOMINIUM FACILITIES Situated in Kampong Timbok, District of Tuaran or 200 metres away from the three horses statue roundabout at Sulaman road, the guarded and gated community of Timbok Jaya Apartments is an affordable residential project consisting of 1,200 units within 6 blocks and equipped with ground floor parking. Every unit has a floor area of 879 sqft with a spacious balcony that complies with Jabatan Perumahan Negara’s requirements of 3 bedrooms and 2 baths and basic amenities.

Timbok Jaya Apartment is one of the four projects which are approved by Jabatan Perumahan Negara for MyHome 2 scheme, which will give first-time purchasers a chance to own their own homes affordably in a convenient and accessible location.

The ‘condominium’ facilities built for the residents and their families include a clubhouse, sports, childcare and community facilities, a community hall and a surau. The well equipped sports and recreational club facilities boast a gymnasium, swimming pool, playground, sepak takraw volleyball, basketball, badminton courts and a mini football field. Other facilities include restaurant & café, Family mart, BBQ area and playschool.

Timbok Jaya Apartment is poised to be the place with the most comprehensive facilities with an affordable price tag which can’t be found even in a city condominium.

JABATAN PERUMAHAN NEGARA (UNIT MYHOME) KEMENTERIAN KESEJAHTERAAN BANDAR PERUMAHAN DAN KERAJAAN TEMPATAN

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timbok jaya apartment At A Glance Project Name

: Timbok Jaya Apartment

Address

: Kg. Timbok, District of Tuaran

Property Type

: 6 Blocks of 11-storey Medium Cost Affordable Apartments (1200 units)

Land Area

: 19.254 acres

Tenure

: Leasehold 99 years

Price Range (RM) : 220,400 – 250,000 2

Average Price Per SQFT (RM) : 250 psf Maintenance Fee (RM) : Service fee 120/month + sinking fund 30/month Facilities & Amenities : Ground Floor Parking • Open Car Parks Minimum 1 Car Park for 1 Unit Ownership • Gymnasium • Games Lounge • Pre School • Surau • Swimming Pool and Wading Pool • Futsal Court • Games Court • Restaurant & Café • Barbeque Area • Guardhouse • Clubhouse That is Well Equipped with Recreation Club Facilities with Spacious Balcony Expected Completion Date : 36 months upon signing Sales & Purchase agreement Main Attractions, Public Transports & Amenities Nearby : Tuaran town 10 minutes’ drive Close proximity to higher educational institutions

3 Artist Impression of Timbok Jaya Apartment Artist Impression of living and dining room Artist Impression of master bedroom

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lu

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to Su laman Lake

Ta Ra mb ce ala Co ng ur se

Tuaran Town

Kg Laya - laya road to Tuaran Town

+6088-721 777 / 999

ABOUT THE DEVELOPER Kinsabina Sdn Bhd was established since 2005 through the brainchild of two brothers, Datuk Francis Goh and Datuk Gerald Goh. In less than a decade, Kinsabina has bestowed Sabah with significant landmarks in building construction and property development.

Kin ab alu

balu

Kina

Ko ta

ota

to K

to

For registration and enquiry: Wisma Kinsabina, Noosob Baru, KM7, Jalan Penampang, 88300 Kota Kinabalu, Sabah, Malaysia

to Kota Kinabalu

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3.

Our accumulated experience created an extensive portfolio in Residential & Commercial Development, Civil & Structural Works, Design & Build projects, Property Management & Maintenance services.

We continue to provide best innovative solutions for our customers and stakeholders.

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HOT TOPIC

PLAZA SHELL

A NEW CITY SKYLINE IN KOTA KINABALU

By Property Hunter

Once a swampy area, where houses then were built on stilts and zinc roofs and washed by the South China Sea, Kampung Air has been redesigned as one of the important areas in downtown Kota Kinabalu as it is today. This historical area has captured the heart of Hap Seng Group, a developer with over 50 years of proven track in property development to raise the 14-storey, eco-friendly building Plaza Shell, which is now regarded as the new landmark for Kota Kinabalu.

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HOT TOPIC

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features a ‘double-glazed’ glass for heat and noise insulation - the first ever in Kota Kinabalu - and is equipped with a back-up generator system that is capable of providing 100% uninterrupted power supply to the building.

Plaza Shell has also been praised by Sabah Chief Minister Datuk Panglima Musa Haji Aman, who officiated the iconic building last November, highlighting that the building concept is almost a perfect green building, the first of its kind in Sabah.

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SABAH’S FIRST GREEN BUILDING The impressive façade has become the talk of the town as it has set the standards in construction building in Kota Kinabalu. With Leadership in Energy & Environmental Design (LEED) Silver certification from the US Green Building Council (USGBC), Hap Seng Group has brought an office tower that has changed the skyline of Kota Kinabalu.

Plaza Shell is described as the first truly Grade A office tower in the State of Sabah and it is set to pioneer the office and retail space standard, bringing Kota Kinabalu’s corporate lifestyle to the next level. This new eco-friendly building

While bearing the status of ‘eco-friendly’, the uniqueness of the building is clearly seen as only the finest materials are used throughout the building’s common areas to highlight the property’s prestige, such as the lobby’s wall of natural stone highlighted with stainless panels and Portoro Gold Marble.

Even the building’s lavatories and washrooms are fitted with quality finishes and water-efficiency systems to reduce water wastage.The four-level basement parking bays is fitted with heat and carbon monoxide sensors.

Plaza Shell also conducts high levels of security, including vehicle access control, security check-point and elevator access control to safeguard assets as well as to secure business interests, following the footsteps of Menara Hap 1.

2.

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Location of Plaza Shell marked in red, Kota Kinabalu circa 1980s Sabah’s first Green Building and Grade A Office Tower Mercedes Benz showroom Plaza Shell

Seng and Menara Hap Seng 2 in Kuala Lumpur. On top of this, the whole complex is fitted with energy-saving light fittings and utilizes an efficient rainwater harvesting system. It has centralized air-condition, controlled with 24 degree Celsius with fan coil system and chiller.

MORE THAN JUST AN OFFICE BUILDING The impeccable Plaza Shell is a landmark of the company’s history of partnership and progress with Sabah, according to Datuk Iain Lo, Chairman of Shell Malaysia. It also acts as a statement about the future of the giant oil-industry based company in Borneo’s land below the wind. More than 400 Shell staff will occupy the top four floors of Plaza Shell, where they will run the company’s deepwater business ranging from day to day production operations, maintenance, through future developments and enhancements.

Designed according to Shell’s “Connect Standards” which enhances connectedness to improve collaboration through space usage and technology to seamlessly link-up with offshore and other offices, Plaza Shell also takes care of their staff’s wellbeing, with a dedicated wellness area for nursing mothers, yoga and meditation. In terms of office space, the building boasts 2.8m clear head room floor to ceiling heights, with raised flooring system where electricity wirings and fibre cabling system is installed to deliver high-speed Internet connection of up to 20 megabits per second.

The building has been conceptualized, designed and constructed as a resource-efficient, high performing, and

cost efficient building, in tandem with Shell’s desire to provide a healthy and productive working environment which also includes a 12,000 sq. ft landscaped garden suite for relaxation.

Another feature not to be missed is the retail podium on the ground floor to the second floor. The building is designed to cater for high-end fine dining and exclusive boutique outlets.

The second floor balcony offers stunning views of KK City, making it suitable for restaurants with alfresco dining. The floor layout for the retail floors allows flexibility for outlets of various sizes. There will be premium food and beverage outlets from Kuala Lumpur that will boost the businesses in the retail podium.

Perched in the heart of Kota Kinabalu, Plaza Shell enjoys immediate access to outstanding transport links and is in close walking proximity to the city core, including hotels, shopping malls, golf courses, hospitals and other public amenities such as the police headquarters and religious establishments.

With a total gross floor area of 435,055 sq. ft, the office tower is much more than an efficient Grade A building but is a prime benchmark that is difficult to beat in Kota Kinabalu.

Plaza Shell has Grade A retail and office space open for lease.

For more information, contact Hap Seng Realty Sdn. Bhd. at 088-355 999.

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PROPERTY SHOWCASE

KINGFISHER INANAM & KINGFISHER PUTATAN Development By Hap Seng Properties Development Sdn Bhd

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PROPERTY SHOWCASE

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KINGFISHER INANAM THE ADDRESS @ INANAM Kingfisher Inanam marks the emergence of a new residential address in Inanam.

The 9.3-acre, architecturally distinct development comprises of 739 condominium units over three towers amidst a generous 10,000 sq. ft. Skypark – a resort-like retreat of naturally green landscape on the 5th floor.

to its positive population catchment and industrial background.

Perched within Inanam’s commercial, trade and residential hub, it is only 15 minutes to KK City Centre. An Inanam address is one of the most progressive residential and commercial location in Kota Kinabalu due

Hap Seng Land is now poised to deliver a new surprise for buyers with its flagship Kingfisher Inanam Condominium project, setting a new level of property investment value that is both affordable and top-quality.

It is more apparent for buyers to choose the right location, property and more importantly, the right developer to invest in.

Hap Seng Land has consistently delivered in its quality for the last 50 years.

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Artist impression of Kingfisher Inanam Artist impression of Condo Facilities Artist impression of Condo Interior

Kingfisher Inanam At A Glance Project Name

: Kingfisher Inanam

Address

: Jalan Kitobu (off Jalan Kionsom), Inanam

Property Type

: High-Rise Residental, Condominium

Land Area

: 9.3 Acres

Tenure : Leasehold 99 Years Price Range

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: RM3XX,XXX

Unit / Lot Types & Build-Up : - Type A : 865 sqft (2 + 1 bedrooms) - Type A1 : 905 sqft (2 + 1 bedrooms) - Type A-D : 1,190 sqft (2 + 1 bedrooms) - Type B : 1,160 sqft (3 bedrooms) - Type B-D: 1,490 sqft (3 bedrooms) Unit / Lot Type Range

: 865 sqft – 1,490 sqft

Total Units / Lots & Block / Levels: - Block A : 255 units - Block B : 245 units - Block C : 239 units Total Unit : 739 units Expected Completion Date : 36 months from the

date of Sales and

Purchase agreement

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to Kota Kinabalu

Main Attractions, Public Transports and Amenities Nearby : - 11 km to Kota Kinabalu City - 19 km to Aiport - 1km Klinik Kesihatan Inanam - 2km to Inanam Town

Jalan Tuaran

Inanam Township

Inanam Township

New Gaya Seafood Jalan Kampung Sukang St. Catherine Church

Ja la n

Ki an so m

Sales Gallery Ground Floor, Plaza Shell, 29 Jalan Tunku Abdul Rahman, 88000 Kota Kinabalu, Sabah.

General Line:

+6088-355 836 / 833

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PROPERTY SHOWCASE

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KINGFISHER PUTATAN AT PUTATAN’S DOORSTEP Kingfisher Putatan showcases a 120 unit condominium in Putatan’s commercial, trade and residential hub.

With uncompromising consideration for privacy, safety and accessibility, this modern and sophisticated residential landmark of luscious inspiration is set to create a new take on life and balance with all the conveniences of a contemporary lifestyle.

As a transportation hub, Putatan enjoys easy accessibility to the Kota Kinabalu International Airport and the proposed Pan Borneo Highway that will ease travel between the cities of Kota Kinabalu and Kuching, Sarawak.

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Kingfisher Putatan is truly an ideal place for families. You can expect serenity on one hand, and openness that stems from the elegant design on the other. Spacious layout and the green environment will amp quality time for the family and a memorable place for children to grow up in.

Kingfisher Putatan Condominium

by Hap Seng Land will be a turning point in the transformation of Putatan into a more trendy and diverse residential neighbourhood in line with its expanding role as a modern transportation and commercial hub.

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Artist impression of Guard House Artist impression of Balcony Artist impression of Swimming Pool

Kingfisher PUTATAN At A Glance Project Name

: Kingfisher Putatan

Address

: Jalan Ketiau-Tombovo, Sabah, Malaysia

Property Type

: High-Rise Residental, Condominium

Land Area

: 3.02 Acres

Tenure : Leasehold 99 Years 3

: 1,009 sqft – 1,065 sqft

Total Units / Lots & Block / Levels

: Block A : 120 units

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Unit / Lot Type Range

to

Unit / Lot Types & Build-Up : - Type 01 : 1,065 sqft (3 bedrooms) - Type 02 : 1,009 sqft (3 bedrooms) One Place

Sutera Harbour Resort

KKIA Jalan Kepayan

Expected Completion Date : 36 Months from the date

of Sales and Purchase agreement

SMK Tansau

Servay Hypermarket

Main Attractions, Public Transports and Amenities Nearby : - 12km to City Centre - 7 km to KKIA - 4.9km to Train Station - Banks within 3.5km radius - 4.3km to Klinik Kesihatan Putatan

Centre

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to Ko ta Kin ab alu

Lin ta s

Sales Gallery Ground Floor, Plaza Shell, 29 Jalan Tunku Abdul Rahman, 88000 Kota Kinabalu, Sabah.

General Line:

+6088-355 836 / 833

Menara Hap Seng & Menara Hap Seng 2

The Developer Hap Seng Land is the property division of Hap Seng Consolidated Berhad, a progressive and well-established public-listed company with diversified businesses in plantations, property investment and development, credit financing, trading of fertilizers and automative, as well as building materials and stone quarries Hap Seng Land is a customer-focused developer driven by commitment to deliver innovative and high quality real estate on time, everytime.

With a 50-year track record as a responsible developer. Hap Seng Land has built a solid reputation of providing long-term value to its customers, partners and associates.

Hap Seng Land also focuses on well-located high-quality commercial development with strong growth potential.

Current investment properties include Menara Hap Seng, Menara Hap Seng 2, Menara Citibank, and Hap Seng Star’s Mercedes-Benz Autohaus.

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interview

DR. DANIELE GAMBERO HE HAS LIVED ALL ACROSS THE WORLD, GETS INVITED TO SPEAK AT SIGNIFICANT PROPERTY EVENTS AND ADVICES THE BIGGEST NAMES IN PROPERTY IN THE COUNTRY. AFTER MUCH ANTICIPATION, FINALLY, HE CAN ADD ONE MORE TO HIS LIST OF ACCOMPLISHMENTS, AUTHOR OF HIS BOOK TITLED, ‘MALAYSIAN PROPENOMY - WHY, WHAT, AND WHEN IN PROPERTY INVESTMENT’.

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INTERVIEW

Dr. Daniele Gambero, is the CEO and co-founder of strategic marketing consultancy firm, REI Group of Companies. He has provided strategic marketing consultancies, investment studies, market researches, property market reports and business valuation all around the world. A well-known and reputable speaker, Dr. Daniel Gambero is frequently invited as a panellist or key speaker for workshops and events by REHDA, SHAREDA (Sabah Housing and Real Estate Developers Association), SHEDA (Sarawak Housing & Real Estate Developer Association), ASLI, FIABCI Malaysian Chapter, University Malaya, Asia Pacific Diligence, StarProperty, iProperty Group, Property Guru and our very own PH Expos.

Through his ability in structuring local and global macro / micro economic indicators to look into the Malaysian property market, he centres his speeches on rightness of property investment based on economic drivers’ performances, current and future market values, location, upcoming infrastructures and their impact on the market trend.

Dr. Daniele Gambero is also a regular columnist for several newspapers and specialized property magazines such as The Star (StarProperty pull-out), Malaysian Reserve (Real Reserve Pull-out), Malay Mail (Get Real Pull-out), Property.360, Real Estate Malaysia, Property Hunter, Property Insight, iProperty and many more.

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Hi Daniele, can you give our readers a brief overview of what it is you do?

Please tell us about your book. What is it about and what prompted you to write it?

At REI Group of Companies, we try to make sense of the property developments in Malaysia. In other words, developers seek our advice on product, design, density and also concept during the planning stage. Our Group mostly prepares feasibility studies based on actual and future estimate demands and from there, we elaborate the type of products in terms of size and typology, pricing, fittings, features and different components such as retail, shop-lots, office towers, leisure, residential and so on. Our clientele has increased substantially in terms of quality as several ‘top 20’ developers have approached us to get these types of researches done. We do our best to get the best out of a development for developers, buyers for own use and for investors.

I felt that I had something possibly very useful to share and that I also believe that we all need to strive on educating ourselves. That’s the main motivation for me. To share in a book what I’ve been talking about in my talks.

Tell us, how did you end up in Malaysia?

Wah…long story! Some of my friends call me a ‘citizen of the world’ as I’ve been lucky enough to live in several countries through work and study. I started up in North America US and Canada and then proceeded seven years later to Mexico and Central America. After two years there, I moved further south to Argentina and Brazil for a couple of years until I returned to my home country, Italy. I spent a few years in Europe, mostly Spain and Italy, and then in 1998, I tried my luck in South East Asia. Initially, I spent the first several months visiting all the countries in this region before deciding on Malaysia. I found – and still do – Malaysia as being the friendliest and safest, where it’s easy to communicate and do business. Personally, I think I’ve picked the country with the highest potential that if you read the first two chapters of my book, you will find a more extended explanation to this. Surely, ‘Malaysia boleh!’

What would you say most motivates you to do what you do? What are you most excited or passionate about?

Did you face any challenges during the course of writing and publishing it?

I wish you didn’t ask me this! This book has almost cost me ‘to lose face’ for it was first announced two years ago….Time constraints has been the worst obstacle and also the lack of giving myself a firm deadline.

Now here we are, this time for sure, cannot fail! (laughs)

If you could do this project again, would you do anything differently? Why and what would you change?

We could probably discuss that right before the publication of my next book (laughs). It should happen before the end of 2016 and after the first two there should be another 6 to 7 within a few years. Deadlines and proper planning, book skeleton first, book flesh later, it helps a lot in terms of direction and focus.

Now you can cross off ‘author’ from your list of accomplishments. So what’s next for you in your work? What are you looking forward to in 2016?

Being free, being happy, being tremendously busy, but at the end very satisfied. And above all, having more fun in doing what I’m about to embark on compared to the great fun that I’ve had so far. That is the real challenge.

I have always been a very positive and passionate person, but when it comes to the business, most of all in Malaysia, what is exciting is constantly coming up with new ideas and different directions for the development market, which in some way, helps propel this country to grow sustainably and for the better. I somehow pride in being a small part in this great “construction site” that is Malaysia.

Did you have any key mentors or people who deeply influenced you?

My father for sure has been and still is my best example/hero/friend.

But unfortunately, he has left several years ago. Locally, I would say that my property sifu is surely Ho Chin Soon and also, lately, his son Ishmael. In business, my partner is unbeatable and honestly today, we are where we are mostly because of her wise advice and guidance.

In terms of life, I would say that all my friends and colleague speakers and writers that have been contributing - mostly positively - to get me where I am today. I am still very open to learning as I strongly believe that we should be learning something new every single day of our lives, so thank you to all that have taught me something. Well done and please keep doing what you do.

** Malaysian Propenomy - Why, What, and When in Property Investment’ will be sold at the REI office after the 23rd and across all major bookstores in Malaysia.

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HOT TOPIC

7 FACTORS AS A PROPERTY INVESTOR

By Chris Tan

Generally, property investment in the year of 2016 can be summed up in two words - “long-term�. It is unlikely for investors to make a quick buck with a simple flipping as well as a quick turnaround by value adding the assets.

Liquidity in the year of 2016 is a concern as lending policies continue to be conservative. Thinking long term is important as whatever new property acquired in 2016 would need to be managed and maintained for a period of time before disposal in order to maintain a reasonable profit by avoiding the first five years rate in the Real Property Gains Tax as well as capitalizing in the market recovery.

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The 7 factors for your consideration as a

1

As much as we are guided to complain about the local conditions with the rising costs and weak sentiments, the global market remains challenging. Do not be blindfolded by your immediate environment as Malaysia is certainly not alone in this regard. What you have to realize is that when you are already sick as the epidemic has started to spread, you are more vulnerable to the changes in the market.

property investor

2

Ask yourself whether you are confident with the long term future of this country versus the entire South-East Asia market. We are a better one in this region and if you remain confident, any form of crisis or downturn is a great signal to pick up good deals before the eventual rebound.

5 6

As for secondary market, the price tag is lower than the developers and you can bypass the development risk and acquire possession within a short period of time. Therefore, look up for investors who could not hold on to their properties as there might be a chance to pick up some decent investment properties.

In terms of foreign investment in Malaysian real estate, the weakening of the ringgit at its new normal of above four Ringgit to a US Dollar would trigger imagination of foreign investors.

3

The change of guard in the central bank next year where it has unveiled new rules governing the way local banks should account for certain deposits and other items on their balances may ease the recent squeeze in the ringgit money market.

Eventually, this could be the key to unlock market liquidity.

4

Having gone through a challenging year in 2015, the developers shall consolidate and react to the market condition where the focus shall shift from the niche market to the mass market, capitalizing on the thinning of disposable income and the rush for home ownership.

7

The year of 2016 would be a good time to start exploring on collective investment structure to leverage on the strength of each individual investor for higher thicker investment. www.PropertyHunter.com.my

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HOT TOPIC

Property Investment in 2016

SHOULD YOU HOLD OR BE BOLD?

By Charles Tan

A good friend who happens to be a unit trust agent came to visit me in KL the other day. He drove all the way from Penang. This friend owns many properties and his unit trust group is ranked number one in Malaysia for this particular ‘red coloured’ brand. He shared with me that the property market in Penang has been bad in recent weeks. He said there were many properties selling below last year’s asking price. In fact, he foresees the equity market to crash in the beginning of 2017. Of course, all these are based on his calculations from all the current available statistics, but I think I will keep what he told me at the back of my mind.

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I

n one recent property event where I was a forum panelist, all of us (panelists), were discussing about the property market in 2016 and 2017. The other three panelists included a famous property guru cum author, another a CEO of a property related company and the last one was the Managing Director of a property developer where the staff are treated to overseas vacations a few times per year (If I was younger, I would definitely join the MD). Overall to sum up in one word what all three said about the general outlook would be ‘pessimistic’. But this is ONLY for the market. All three were excited about the potential opportunities during a bad time. The author shared that this cycle of ups and downs do not come often. Question is, do we dare and are we ‘wealthy’ enough to buy when everyone else is selling?

In a recent report article in a local media, Citibank has forecasted a global recession in 2016.

International Monetary Fund (IMF) did some assumptions and showed that world growth numbers may drop below 2 percent. This is low enough to be regarded as a global recession.

Actually, when we google for ‘property outlook 2016’ or even ‘economy outlook 2016’ we would be able to read lots of bad news. Some advanced markets are said to be showing signs of bubble and in fact some are already so high that I do not dare to predict what may happen if the wealthy Chinese from China suddenly decides to stop buying. It does not include Malaysia though. The overseas investors portion remain insignificant compared to many more advanced property markets in the world.

It’s very clear that my good friend, the extremely established forum panelists and even a global bank as well as the world’s largest lender of last resort are all looking at a gloomy 2016. The key takeaway that I have learnt from Warren Buffet is this, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful.” So, where property market is concerned, I do hope that 2016 or even the beginning of 2017 would continue to present better than usual opportunities. Do note that there is no such thing as the best time to buy whether it’s property or equity. There’s only, ‘do I think it’s worth buying now?’

What we may want to start doing is to stop any unnecessary expenditures. Have more ‘bullets’ ready. Even if it is not for property, why not equity?

Secondly, if we are thinking about property, have we done enough analysis? Have we identified the properties that we want and set a price that we would like to buy? Better be prepared, because for properties in certain prime locations, there are lots of people eyeing them too.

Recently, I had lunch with two extremely wealthy individuals who happen to stay in Desa Parkcity and I asked them what would happen if the prices in Desa Parkcity landed homes dropped 15 percent. Both said, they would immediately buy that unit. I told them, I would try too, if it could really fall to 15 percent. To be honest, for some of these very established areas, prices are likely to fall only for a short period of time because there is a support level. Once prices hit that support level, it will stop moving and as soon as the pessimism turns positive again, prices would go back to where it was previously. Of course, the catch would be that Malaysia remain almost the same as today and do not face a certain unforeseen circumstance such as another 1998-type financial crisis.

For 2016, the right focus that I would like to advise is still the same whether or not it’s going to be a bad or good year. Everyone without a property should strive to own their first one. Yes, this includes even those staying with their parents.

If you are staying with your parents, it’s the best time to buy another unit and rent it out. The right attitude for those considering an investment property is not ‘wait-and-see’. The right attitude is ‘view-and-offer’. Analyze the original price, current price and the potential price that the seller may be willing to sell. If he loses money, he would not sell but if you are looking for value buy, then view and offer them a price you are comfortable with. Who knows, you may just get lucky.

Think seriously, when the market is good, when everyone is thinking of buying and all the developers are launching projects in which everyone is given only 5 minutes to choose their units - would we get better prices then? Our decision determines our gain. Property investment isn’t necessarily a gamble. But it is a calculated risk.

Of course some would say, it’s best to do nothing and wait till situation is clearer. Well, I personally believe doing nothing is not considered a strategy, even during a slowdown.

Happy investing in 2016 fellow property adventurers!

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HOT TOPIC

2016 PROPENOMY OUTLOOK

FOR MALAYSIAN PROPERTY MARKETS

By Daniele Gambero

How will Malaysia perform in the next 12 or so months and where is the world heading to? This is a question that I have been frequently asked in the last couple of months as most of my presentations and columns are quite optimistic or, at least, seem not so bleak about the future.

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H

ow will Malaysia perform in the next 12 or so months and where is the world heading to? This is a question that I have been frequently asked in the last couple of months as most of my presentations and columns are quite optimistic or, at least, seem not so bleak about the future.

COUNTRY

Being in this era globally, we need to find our way to look at what is happening all around us and to find a way to define who will be the winners and losers of this new race.

First of all we need to define that those countries that rely too much on their own economic growth and development on commodities will be at the losing end of the paradigm! Where Malaysia stands as at today is easy to say: the Government has put as priority, a reduction of 20% dependence on crude oil and derivatives in terms of revenues. Considering that in 2014 the Malaysian government has received a contribution of almost 30% of its revenues from Petronas, the above target surely is the correct move. Malaysia, as per the latest commentaries and rankings worldwide is out performing most of the regional countries and keeps on remaining very attractive to foreign investments. Just to mention a few, the World Economic Forum in the recently released Competitiveness report 2015-2016 has positioned Malaysia as the 18th most competitive country in the world.

2

JAPAN

6

HONG KONG

1.

2.

3.

The 10th friendliest country in the world by the HSBC Research Institute.

The 18th country in the world for ease of doing business by the World Bank The 24th for quality of infrastructures by Statista (statistics powerhouse frequently used by MNCs and governments).

7 ADVANCED ECONOMIES

15

NEW ZEALAND

16

AUSTRALIA

22

SOUTH KOREA

26

MALAYSIA

18

CHINA

28

THAILAND

32

INDONESIA PHILIPPINES

37 DEVELOPING ASIA COUNTRIES

47

VIETNAM

56

LAOS

83

CAMBODIA

90

MYANMAR

131

And the list could go on with several more things to be analyzed, but let’s have a look at the several future “Game Changers” which will impact both our own Malaysian Economy and the whole region around us. Between the end of 2015 and the next few years we will witness a number of huge changes in our region such as: 1.

2.

3.

China lies at ranking 28 while all the other members of ASEAN are ranked above 30.

To have a better idea, we can refer to the table below and see what I’m talking about by keeping in mind that the WEF produces its reports from businessmen all around the world and we can rest assured that their rankings are “business driven” and not “politically driven”. Nobody is saying, for sure, that Malaysia is perfect; there is still a lot that can be improved and made better, but, if compared to all our neighbors we are surely next after Singapore.

Other rankings that are quite interesting if looked at from a foreigner’s point of view, are:

2015 - 2016 WORD RANKING

SINGAPORE

TAIWAN

However, after studying the forecast recently presented in different occasions, I must say that preparing an outlook talk or write today is much more challenging if compared to a few years ago. Globalization, the internet and the internet of things have been accelerating the speed of economic crashes and recoveries; the world economic development has weakened those “safe harbors” of the past such as commodities and long term financing from developed areas towards emerging markets and social medias have immeasurably raised the propagation speed of news challenging the traditional news providers and easily creating uncertainty in the global markets.

DEVELOPMENT STATUS

4.

5.

The 11th Malaysia Plan with a full integration of the country at international levels and with particular attention placed over wealth distribution as the main driver for our growth in the forthcoming years.

The recently tabled Budget 2016 which is substantially raising the budget allocation to East Malaysia and promoting the creation of huge drivers of growth in the Southern corridor of Klang Valley under the names “Malaysian Vision Valley”, “Aeropolis” and “Cyberjaya Cyber City Center”.

ASEAN full implementation starting December 2015 with Malaysia being the first “chaircountry” of this powerhouse of future economic growth, we will see in a while what I’m talking about.

TPPA or Trans Pacific Partnership Agreement and all the economic implications which it carries forward for the second best performing economy in South East Asia.

One Road One Belt economic expansion plan proposed by China and which will see Malaysia as one of the big players.

With all of the above on our pipeline, even the most pessimistic should see light at the end of the tunnel and feel more optimistic about the future. We’ll skip all the elaborate details of each of them and let’s just take a look at what ASEAN means to the world, especially and a bit selfishly, to Malaysia.

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HOT TOPIC

I’m expecting a partial recovery to emerge during the second and third quarter of 2016 with a more stable exchange rate MYR/USD and better crude oil values...

A few information which are deemed to be useful for the readers about this free trading agreement which falls under the name of ASEAN are: 1.

2.

3.

4.

Asean member countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

The aggregate population of Asean with its more than 600 million inhabitants creates the third largest market in the world after China and India.

The combined economies of Asean make it a major player on the world stage as the 5th economy after Europe, USA, China and Japan.

The Asean vision is to build a better future for the Southeast Asian region by strengthening the links between countries, people and businesses. Asean has a great potential by being attractive for international businesses and economic development.

In light of the above let’s see where Malaysia stands within the team of 10 and how this will impact its future.

COUNTRY

NOMINAL GDP USD BILLIONS

POPULATION

NOMINAL GDP PER CAPITAL USD

WEF COMP. REP.2015 - 2016 RANK

BRUNEI

16,954

412,000

41,150

Nil

CAMBODIA

14,038

14,865,000

944

90th

INDONESIA

878,043

246,864,000

3,557

37th

LAOS

9,418

6,646,000

1,417

83rd

MALAYSIA

305,033

30,260,000

10,080

18th

MYANMAR

53,140

52,797,000

1,006

131st

PHILIPPINES

250,182

96,707,000

2,587

47th

SINGAPORE

274,702

5,312,000

51,713

2nd

THAILAND

365,966

66,785,000

5,480

32nd

VIETNAM

155,820

88,775,000

1,755

56th

It’s obvious to see the opportunities which will be available for Malaysia easily in the next 10 years by comparing these basic data on population, economic growth, GDP and international rankings, yet, Malaysians are still too pessimistic.

We should all be proud of being only the 6th country out of the ten for population but the third in terms of GDP and per

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capita income, not to say about being the second in terms of competitiveness. Asean will surely attract the attention of the world’s players, and which country would they most probably choose? The numbers above should give you a hint.

Going back to the game changers and the 2016 outlook, there is so much to be said, but for now, I’ll leave it at that to give way for my personal forecast for next year. From an economic point of view there will be a number of challenges during the first half of next year and some of them might be crucial. I personally believe that the Malaysian Economy has matured substantially since the last dramatic crisis 1997-98 and I cannot see such a dark future.

I’m expecting a partial recovery to emerge during the second and third quarter of 2016 with a more stable exchange rate MYR/USD and better crude oil values (let’s keep in mind that while Malaysia is not depending 100% on the crude oil for its revenues other countries around the world are and this will definitely bring up the values in the medium term).

From a property point of view, 2016 will be a year of changes with developers re-positioning a great part of their offerings towards more affordable values (we still have an exceeding demand in terms of 10 to 1 for affordable homes) and a better quality of investment grade product. Hopefully we will witness a new regulation by BNM in terms of assistance to first-time home buyers and more severe regulations for flippers and speculators, leaving ample space and good rewards to genuine buyers and investors.

There is really much more that can be said about the future of Malaysia from an economic and property market standpoint, and for this reason, I’ve decided to (for those who are interested) compile part of what I know and share it in a book that will be launched this month. I hope to have some of you as my readers and critics as it is only through discussion and constructive criticism that we all can grow together. As usual, these are only my 5 cents Sources: World Economic Forum, Statistic Department of Malaysia, AIF, World Bank and REI Group archives

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35

PROPERTY SHOWCASE

AFFINITY

Be A Part Of Incredible Perth With Affinity At The Springs Development By Dragon Century Spring Pty Ltd

The 4th largest city in the land of downunder – Perth, often referred to as “the most remote city in the world”, is no ordinary city. What is so special about Perth? Why is everyone talking about this city?

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37

PROPERTY SHOWCASE

It’s because Perth is simply incredible.

AFFINITY At A Glance

It is the capital of Western Australia, sharing the same time zone with most influential countries on the Asian continent – China, Hong Kong, Indonesia, Thailand, Singapore and our homeland, Malaysia.

Project Name

: Affinity at the Springs

Address

: 3, Hawksburn Road,Rivervale

Price Range

: AUD$739,000

Let’s crunch some numbers Perth has approximately 4.2 million international tourists every year with 5.3 % international tourist growth. About 9.8 million domestic travelers travel to Perth for work and travel every year. Over the past 10 years Perth is still the strongest economy generator in Australia compared to the other cities such as Sydney and Melbourne. On a big scale, the Australian Government invests huge amounts of money into Western Australia (51% out of AUD 227.7 billion) for various economic systems and infrastructures.

Unit / Lot Types & Build Up: 54 - 79 Sq Metres (1 Bed) AUD$ 325,000 70 - 119 Sq Metres (2 Bed) AUD$ 460,000 114 - 120 Sq Metres (3 Bed) AUD$ 679,000

INVESTMENT OPPORTUNITY Always remember the no.1 golden rule when buying property – the location. An excellent location makes everything possible.

It has been considered as Australia’s most accessible city to the world’s strongest economic destination and is probably one of the most strategic locations in the world for property investment. With everything that Perth has to offer, comes Affinity Apartments – developed by Dragon Century Springs Pty. Ltd, one of Western Australia’s successful developer which has grown steadily over the past decade.

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Total Unit / Lots & Blocks / Levels: 153 Units 12 Levels (10 Levels with 2 Basement) Completion Date: Last Quarter of 2017 Tenure: Freehold Main Attractions, Public Transport And Amenities Nearby: Crown Perth . Victoria Park . Perth CBD . Ascot and Belmont race courses . New sports stadium in Burswood . Burswood Train Station . Bus Stop at Doorstep . Curtain University

AFFINITY – THE REMARKABLE OPPORTUNITY Located within the popular and rapidly redeveloping Burswood peninsula area, Affinity Apartments offer the perfect opportunity for a dream lifestyle in Perth’s premier apartment precinct, The Springs at Rivervale. Affinity delivers the ultimate in contemporary living. Imagine being able to walk to Crown Perth with its large choice of renowned restaurants, glamorous bars, headlining shows and Perth’s only casino.

Soon, Perth’s premier sports stadium will also open in Burswood, which means you’ll also be a short walk from the major games. Just over the river is Perth’s CBD, where you’ll find some of the finest restaurants and small boutique bars in Australia. Affinity is also just a short drive from Victoria Park with its choice of cosmopolitan restaurants, cafés and shopping and Ascot and Belmont racecourses are also close.

EXCEPTIONAL CONNECTIONS Because of Affinity’s strategic location, getting anywhere is a breeze. These apartments are situated on Great Eastern Highway, so you’re connected to the Perth Domestic Airport to the east and Victoria Park to the southwest. The Graham Farmer Freeway gets you quickly to the city, and connects to the Kwinana and Mitchell Freeways. You’ll be well serviced by public transport too. The Burswood train station is close by and numerous bus routes service the Great Eastern Highway.

Walkways and bike paths along the Swan River connect you to the CBD and on to the University of Western Australia, Edith Cowan University and Curtin University 1

2

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39

PROPERTY SHOWCASE

KEY FEATURE Surrounding Area: - Situated on Great Eastern Highway - 3km to Perth’s CBD - 5km to the airport - Burswood & Sports Stadium next door - Only 100m to the Swan River - Convenient public transport links (The Graham Farmer) Free connects to the Kwinana and Mitchell Freeways; The Burswood train station is close by; as well as numerous bus routes Public area & Facilities: - Pool and expansive sun dek - Barbecue Area - Shade of Cabana - Alfresco Lounge Area - Gym - Basement Parking - Private Lockable Storage Developer: Dragon Century Spring Pty Ltd.

3

For more infomation and sales enquiries please contact

+6010 944 1681 / +6016 833 4233

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THE ESSENCE OF URBAN CHIC LIVING The apartments at the Affinity have been architecturally designed to create a feeling of space, comfort and contemporary lifestyle. Options include studio, one bedroom, two bedroom or three bedroom apartments, with balcony areas for entertaining and openplan living. Each apartment has superior quality fittings including sanitary wares, wall and flooring finishes, kitchen cabinetry and benchtops which are complemented with tasteful colour schemes. The development also includes secure basement parking with a mechanical car stacker for the two and three bedroom apartments, as well as expansive communal leisure facilities such as a resortstyle wetedged pool and sun deck, barbecue area, shaded cabana, alfresco lounge area and fullyequipped gym.

With so much going on in Perth today, it is definitely the place to look up for. Unlock the lucrative potential of your future investment with Affinity Apartments.

1.

2.

3.

4.

Artist Impression of Living Affinity Artist Impression of Common Lounge Artist Impression of Pool Deck Artist Impression of Kitchen & Dining

4

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41

HOT TOPIC

PROPERTY HUNTER

MILESTONES A look back into Property Hunter’s achievements since its inception

JANUARY •

MARCH •

JUNE •

2nd PIHex doubles previous total sales with more than RM90 million worth of properties sold.

•

With the success of the previous expo in Sabah, PIHex spreads its presence into Sarawak with Miri as their first leg.

JANUARY •

Property Hunter Magazine was born

JUNE •

•

Property Hunter holds its first property expo called “PIHex” at Kota Kinabalu. It netted RM40 million in sales.

Property Hunter collaborates with SHAREDA for PIHex in Sandakan and Tawau.

•

•

•

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PH Expo (KK) achieves new record with a total of 200 units collectively sold worth over RM150 million in sales.

AUGUST PIHex (Property Investment & Home Expo) changes name to “PH Expo”.

PROPEX partners with Propery Hunter as official magazine for PROPEX Event.

OCTOBER

2012

Property Hunter magazine celebrates 50th issue.

AUGUST •

Property Hunter starts organizing private events for developers, covering all cities in East Malaysia, and also Brunei.

SEPTEMBER •

PH Expo donates RM22,273 to Habitat For Humanity after pledging early in the year to donate RM50 for every unit sold at PH Expo plus, donations from the public and event speakers Ahyat Ishak, Chris Tan, Miichael Yeoh, Faizul Ridzuan and Richard Oon from their book sales.

Property Hunter website launched. The largest property media network in East Malaysia launches new portal, www.propertyhunter.com.my.

2013

2014

EAST MALAYSI

A’S LEADING

PROPERTY

PORTAL, MAG

AZINE & EXPO

PLAZA SH

EL

L A NEW CIT Y SKYLINE IN KOTA KIN ABALU

Casablanca Residence: A Nostalgic properties Address With : Kingfisher An Attachmen Inanam & Kingfisher t Of Peace Putatan | & Security Br-X1 Skele | Chris Tan ton Chronogra | Kota Kinabalu’s most - 7 Factors anticipated ph Limited As Property Edition Of Investor 250 Pieces

•

Property Hunter Magazine is shortlisted as finalists for two categories; ‘The Best Subscription Strategy’ and ‘Best Content Team’ under The Spark Awards.

Property Press Awards

2014

ISSUE 74 RM9.50 (Inc GST)

MAY •

OCTOBER •

Property Hunter opens new office in KL at Mont Kiara. The office is in partnership with ENK Ventures.

NOVEMBER •

Increased magazine distribution in targeted outlets, such as Starbucks and Coffee Bean in East Malaysia and Plaza Premium Lounge in all airports within Malaysia.

NOVEMBER •

Property Hunter Magazine won the ‘Outstanding Promotion of the Sabah Housing Market’ award by the Malaysian Reserve Property Press 2014. The Malaysian Reserve business daily is in association with the International New York Times and the awards are judged by senior members of the press.

PH Expo has covered all major cities in East Malaysia; Kota Kinabalu, Sandakan, Tawau, Kuching, Miri and Sibu.

January

Property H

unter new

magazine lo

ok

DECEMBER •

Hosted their first PH Annual Party in KK, hosting 130 developers and property agents.

•

Property Hunter successfully closes the year by bringing back PIHex.

2015

2016 www.PropertyHunter.com.my

43

EVENT

A New Commercial Area for Beaufort Town

By Property Hunter

Kimis Development revealed that in the nearest future, the development of the second phase will begin.

Beaufort Square Phase II will focus on a lifestyle concept – with initial designs include generous landscaped open area as a center court for public events. The developer is also looking forward to introduce high speed fibre optic internet services to the development.

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The people of the small town Beaufort today celebrated their new commercial hub - Beaufort Square Phase I, which was officiated by Datuk Seri Panglima Chong Nyuk Yong, The President of Beaufort Chinese Chamber of Commerce, in presence of Mr. Chris Chiew Kim Hua, Managing Director of Kimis Development Sdn. Bhd.

first project in Beaufort to have Management Corporation – with 24 hour security, garbage collection service and daily cleaning service for the common area. In addition, Beaufort Square also aims to be a social hub for the local community as it is equipped with handicap parking space, pedestrian walkway and shaded common area.

The RM130 million project which spans for more than 13 acres comprises of 126 units of shop offices which will eventually be operated by retailers, corporate offices and local businesses including restaurants.

Kimis Development also revealed that in the nearest future, the development of the second phase will begin.

Beaufort Square Phase II will focus on a lifestyle concept – with the initial design includes a generous landscaped open area as a center court for public events. The developer is also looking forward to introduce high speed fibre optic internet services to the development.

In his speech, Datuk Chong said that Kimis Development has done an excellent job in understanding the needs of Beaufort residence to have a new and stable commercial area as the area is prone to flood.

According to Kimis Development’s director, Mr. Roy Chiew, Beaufort Square is equipped with a drainage system with added capacity and better performances.

The new commercial area also made history of being the

1.

2.

3.

The opening ceremony was served with a delightful Kadazan ethnic traditional dance of Sumazau and lion dance. In conjuction to the opening ceremony, Kimis Development has also organized a family day with the locals of Beaufort, with activities ranging from charity and family oriented games.

1

2

3

4

The joyous opening ceremony served with Kadazan’s traditional dance of Sumazau.

Front view of Beaufort Square.

Datuk Seri Panglima Chong Nyuk Yong delivering his speech.

4.

Datuk Seri Panglima Chong Nyuk Yong officiating the new commercial area, joined together by Director of Kimis Development Mr Chris Chiew Kim Hua and Mr Roy Chiew

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45

TIME

BR-X1 SKELETON CHRONOGRAPH LIMITED EDITION OF 250 PIECES Always ahead of its time, Bell & Ross continues to innovate with the launch of the BR-X1, a high-tech chronograph with a sporty design, which is as robust as it is sophisticated. Revolutionary in its design, the BR-X1 is the first watch of a new collection from Bell & Ross and the beginning of a whole new chapter in the saga of the brand. An extreme version of the BR-01, whose iconic square shape is directly inspired by aeronautical flight instruments, the BR-X1 is much more than a top-of-therange contemporary sports watch: it is the “Ultimate Utility Watch�.

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Lives

style

www.PropertyHunter.com.my

47

LIVESTYLE

RESISTANCE, ERGONOMICS, FUNCTIONALITY:

THE BR-X1 TRILOGY

As tough as a 4x4, but as light as a drone, the BRX1 stands out because of the innovative design of its 45-mm case made from grade 5 titanium. The square case of the BR-X1 is covered with a high-tech band made from ceramic and rubber. It is designed as a cover around the edges, acting as a defensive shield that protects it from possible impacts. Its innovative rocker push-buttons are used to activate the chronograph functions; these push-buttons are also made from high-tech ceramic with ergonomically-

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designed rubber inserts. The objective: to make them as solid and easy to grip as possible. A rubber button grip insert is also built into the case at 9 o’clock, to make it easier to activate the chronograph functions, even when wearing gloves.

The BR-X1 features the perfect combination of materials and qualities – titanium, ceramic and rubber— which make it light, virtually scratch-proof and ergonomic. With its sporty appeal and complex design, its case features functional non-indexed screws. The sapphire glass has an anti-glare coating to ensure perfect legibility in all circumstances.

Revolutionary and ultra-masculine, the design of this latest generation case, using a combination of materials makes the possibilities endless. It also opens up a vast potential for creativity, mostly in customisation.

HIGH FUNCTIONALITY SUPPORTED BY TECHNOLOGY AND SOPHISTICATION The chronograph is the complication par excellence in aviation. It can measure short periods of time and has become an essential tool in navigation. It is mainly for these reasons that the chronograph has always enjoyed a special place among the Bell & Ross aviation watch experts. It is only natural that the latest creation from Bell & Ross – the BR-X1 – is not just any chronograph. Its rare skeleton chronograph movement is an exceptional motor combining haute horlogerie finishes and extreme lightness. Structured in the shape of an “X”, its upper bridge (treated with black DLC) reads like a mark of its identity. “X”, is the code name that refers to NASA’s experimental projects, and which gives the watch its name: the BR-X1.

As is the tradition at Bell & Ross, the back of the BR-X1 – made from grade 5 titanium – features a small, round opening which reveals the beating heart of the balance.

Made from grey-tinted mineral glass and featuring appliqué metal indices with photo-luminescent inserts, the dial forms a clear window through which the exceptional movement can be admired. The sophisticated, Superluminova®filled hands offer perfect legibility. The central hour and

minute hands are read traditionally, while the small seconds hand is positioned at 3 o’clock. The skeleton date dial is positioned at 6 o’clock. The minute timer on the chronograph function is positioned at 9 o’clock; instead of a hand, it features an ultra light aluminium disc resembling the blades of a turbine. Essential for calculating speeds, the tachometer scale appears on the ring; each chronograph function is marked with a subtle touch of red. Made from rubber, the black strap is decorated with a braid, which echoes the woven canvas straps used by astronauts, the modern adventurers in space. Made from steel and featuring a moulded black rubber insert, the buckle is both robust and refined. It is fixed to the strap using a pin and two hex-head screws.

THE BR-X1 – THE ULTIMATE CHRONOGRAPH The perfect synthesis of Bell & Ross’ expertise in creating professional greatly complex watches, the BR-X1 is an exceptional instrument with an innovative, modern design, which is available as a limited edition of 250 pieces. Set on revolutionising the watchmaking world, its distinctive design – combining a sporty look with high-tech features and haute horlogerie finishes – marks a new chapter in the rich history of Bell & Ross.

The BR-X1 features the perfect combination of materials and qualities – titanium, ceramic and rubber— which make it light, virtually scratch-proof and ergonomic.

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Drive

The New BMW 3 Series An irresistible combination of dynamic design, unrivalled agility and excellent everyday practicality

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DRIVE

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ince 1975, the BMW 3 Series has demonstrated its dynamic ability and has set the benchmark in the premium sporty mid-sized segment.

The sedan is well known as the creator of the mid-sized premium segment and 40 years on, the new BMW 3 Series embodies unbeatable efficiency in its class with its hallmark BMW sporty and dynamic ability. This dynamic character is further reflected in its unmistakable design, which continues to impress with precision, tautness and elegance. The new BMW 3 Series is introduced in four new model variants including the all-new BMW 318i, the BMW 320i, the BMW 320d and the all-new BMW 330i, which is equipped with the extra-dynamic Sport Line, exclusive and elegant Luxury Line or the extremely athletic M Sport Package. The new eye-catching looks of the all-new premium sports sedan is also accompanied with even more powerful and efficient new drivetrains, further optimised chassis and suspension, new interior enhancements, and a new segment leading, comprehensive BMW ConnectedDrive suite of techn- ologies – the first in the Malaysian premium segment.

Even higher quality, even greater presence The striking presence of the new BMW 3 Series on the road is sportier than all and more elegant than ever. The sporty sedan upholds the design tradition of the BMW brand with distinctively sculpted long bonnet, short front and rear overhangs, long wheelbase and set-back passenger compartment. Each harmoniously integrated to create the extremely dynamic proportions that are as much a hallmark of BMW as ideal 50:50 weight distribution.

Efficiency with power The BMW 3 Series has symbolised driving enjoyment combined with frugal fuel consumption for the past 40 years.

Now the new BMW 3 Series is raising the bar yet again. All members of the new modular engine family share a common design blueprint with an inline cylinder arrangement and will benefit from the BMW TwinPower Turbo technology.

The all-new BMW 318i will be the first BMW 3 Series model variant to be introduced with the Engine of the Year 2015 award winning 3-cylinder petrol engine. The innovative BMW TwinPower Turbo 1.5-litre 3-cylinder petrol engine, which shares the same DNA as the multi-award-winning BMW TwinPower Turbo inline 6-cylinder petrol engine delivers a maximum output of 136 hp, torque of 220 Nm and accelerates from 0 to 100 km/h in 8.9 seconds. The combined fuel consumption of the all-new BMW 318i stands from 5.1 litres per 100 km with C02 emissions of 119 g/km.

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The arrival of the new BMW 3 Series also marks the world premiere of the new 2.0-litre 4-cylinder petrol engine, equipped in both the new BMW 320i and the all-new BMW 330i. The engine guarantees maximum driving pleasure thanks to agile power delivery and outstanding responsiveness at low engine speeds, all while being exceptionally fuel efficient and low in emissions.

The improved overall harmonisation of all chassis variants also provide an even more dynamic driving experience and improved cornering behaviour while maintaining the same unparalleled ride comfort.

The sporting credentials of the new BMW 3 Series can be further accentuated with the M Sport suspension available for the new BMW 320i M Sport and BMW 320d M Sport, while the Adaptive M Suspension is made available for the all-new BMW 330i M Sport.

Optimum connectivity and intelligent driver assistance systems BMW has been setting the standard for connectivity between human, car and the outside world for many years now. In the new BMW 3 Series, BMW ConnectedDrive is providing another impressive demonstration of its pioneering abilities while again ensuring supreme safety, comfort and infotainment.

The latest-generation Navigation System Professional for the new BMW 320d and the all-new BMW 330i M Sport boasts quicker start-up, even faster route calculation along with more realistic 3D visualisation in urban areas. A fullcolour, high-resolution Head-Up Display is also available as a standard feature in the all-new BMW 330i where all relevant information such as speed, navigation instructions, speed limits, and more appears here in an optimum position in the driver’s field of vision.

A SIM card built into the vehicle enables customers to enjoy optimum connectivity and access to the unrivalled range of services from BMW ConnectedDrive without the need for a smartphone. The Concierge Service for example, makes it possible to select points of interest while driving, such as restaurants or hotels, make a reservation if desired, and have them sent straight to the vehicle as a navigation destination.

Additional Services & Apps offered in the new BMW 3 Series include BMW Online Office which uses the on-board SIM card to enable the reading, writing and sending of emails from within the vehicle. The portfolio of apps and services from BMW ConnectedDrive also include smartphone apps such as Audible, Deezer, GoPro and Spotify

DRIVE THROUGH with BMW 3 Series Technical Data : Cylinders / Capacity (CC): In- line 4 / 1,988 (BMW 320i Sport) In- line 4 / 1,995 (BMW 320d Sport) In- line 4 / 1,988 (BMW 330i Sport ) In- line 3 / 1,499 (BMW 318i Luxury) Max Output (KW/hp/rpm) : 135 / 184 / 5,000-6,500 140 / 190 / 4,000 185 / 252 / 5,200 – 6,500 100 / 136 / 4,500 – 6,000 Top Speed (km/h) : 235 - 230 - 250 - 210 Fuel Type : Petrol . Diesel . Petrol . Petrol Max Torque (Nm/rpm) : 290 / 1,350 – 4,250 400 / 1,750 – 2,500 350 /1,450 – 4,800 220 / 1,250 – 4,300 Fuel Consumption : 5.8 - 4.0 - 6.1 - 5.1 Transmission Type : 8- Speed automatic transmission with Steptronic Acceleration 0 – 1.00 km/h (s) : 7.2 - 7.2 - 5.8 - 8.9 CO² emissions (g/km): 128 - 106 - 143 -119

For more infomation and sales enquiries please contact : FM Autohaus Mile 3, Jalan Penampang, 88300 Kota Kinabalu, Sabah, Malaysia

+6088 703 492

Regas Premium Auto No. 8, Jalan Tun Jugah, 93350 Kuching, Sarawak

+6082 467 777

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FURNISH

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Terarrarium, MYR 229 @ Fiska

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Fissure Display Cabinet MYR 7,698 @ Journey East

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Wooden Dinnerware MYR 16.50 - MYR 80 @ Fiska

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Voluspa Colonia Candle RM200.30 @ Fiska

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5.

Taste Cabinet MYR 6,285 @ Journey East

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Fissure Desk MYR 5,014 @ Journey East

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Wooden Dinnerware MYR 16.50 - MYR 80 @ Fiska

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Sand Glass MYR 131 @ Journey East

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Fendy Wooden Locker MYR 7,910 @ Journey East

10. Voluspa Orange 3-Wick Candle MYR 168.50 @ Fiska

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EVENT

Grand merdeka

By Property Hunter

Since the roof topping ceremony of GM Mall on 7th February 2015, we had witnessed the ground breaking of Grand Merdeka Lot 2, namely, Grand Merdeka Home (a retail warehouse concept), and launching and ground breaking for Grand Merdeka Corp, which consists of 20 blocks of signature offices.

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Go Big, Go Grand

Award tender letter handing over from Director of Grand Merdeka Development Sdn Bhd Mr Chew Sang Hai and Mr Jason Tong To Mr. Teng Chin Eyong and Mr. Choong Kwai Onn of Eng Han Engineering Sdn Bhd.

The commencement of earthwork of Grand Merdeka Lot 2 was scheduled to be by 1st August 2015 this year

ideally for hypermarket, furniture outlets, speciality outlets and fast food drive-thru outlets.

However, the delay of construction work for both Grand Merdeka Lot 2, is mainly due to delay of approval from the local authorities.

In the meantime, Grand Merdeka Mall (Lot 1) is entering its final phase of construction which is expected to be substantially completed no later than February 2016 and subsequently with the commencement of OC application process. Award tender for the construction of Lot 2, GM Home and GM Corp has been awarded to Eng Han Engineering Sdn. Bhd., which is also the similar main contractor of our Lot 1, GM Mall. The estimated completion of Lot 2 is by early 2017.

On the day of ground breaking, we are proud to announce that as to date, we have the confirmation of anchor tenants such as Top Kinabalu Sdn Bhd and 1 Homeware at GM Home.

GRAND MERDEKA HOME (GM HOME) GM Home project is designated as onestop household and home furnishing hub retail warehouse concept for the Northern Corridor of Kota Kinabalu.

Positioned next to GM Mall, spread across 70,000 sq. ft., it is designated

In addition, we are still in the midst of negotiation with an established hypermarket and fast food drive - thru outlet.

GRAND MERDEKA CORPORATE (GM CORP) GM Corp, consists of 20 blocks of 5-6 storey signature office suit, showroom and retail units. Spread across an approximate gross built up area of 120,000 sq. ft. GM Corp is said to introduce a new perk lifestyle in the Northern Corridor of Kota Kinabalu. On the day of launching, we introduced 9-10 blocks of GM Corp to our potential buyers with a special early bird discount of 3% of the selling price.

GM Corp will also feature an impressive choice of bars and restaurants, a

boutique hotel, executive carpark, complete with a convenient GM buggytransit to and from GM Mall, GM Home and GM Corp. Ground floor galleria unit features 22ft. height ceiling with the provision of future mezzanine floor and internal stairways.

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Spacious office / showroom units Lift services for every 2 units Garden terrace, gymnasium and spa, and function room Private executive car parks at basement for owner / tenant 24-hour CCTV Surveillance Provide internal staircase Escalator to transport patron from ground to the first floor.

As to date, we have sold 9 blocks of GM Corp, with 11 blocks available for grabs and attractive package provided to our buyers. At Grand Merdeka Development Sdn Bhd, we believe that the new addition of our Lot 2, GM Home and GM Corp would be an excellent complement to our up and coming GM Mall.

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PROPERTY NEWS

PROPERTY, INVESTMENT & BANKING NEWS KEEP TRACK OF THE TRENDS PROPERTY AND REAL ESTATE

Sabah

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International

Sarawak BK

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West Malaysia

Banking & Investment

Datuk Francis Urges Government to Use Wisdom and Judgement Health Impacts Assessment, Traffic Impacts Assessment, Geological Impacts Assessment and MASMA Report. And coupled with the recently formed Housing Price Review Committees by MLGH, there seems to leave no room for all property developers to breathe.

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SHAREDA President Datuk Francis Goh said that SHAREDA wishes to express their stand towards the imposition of new measures for Building Standard for Earthquake Risk Management to be imposed on future building constructions in Sabah.

SHAREDA would also like to congratulate the State Government that if there is any competition for “The Most Regulated Building By-Law and Stringent Approvals For Development Orders”, Sabah would definitely become champion for all the wrong reasons, as after the formation of this Earthquake Risk Management, the further delay of development order processes and approvals are even more perfect with the later added to the existing High Risks Committees, Central Boards, and several Impacts assessment required such as Environmental Impact Assessment,

All professional bodies and government advisory departments are reminded that all the so called impacts assessment reports and so called risk management created will eventually cause delays to the development approvals and hence create red-tapes and cause high holding costs which will eventually tag into the selling price of properties.

Datuk Francis said that the authorities concerned must use wisdom and judgement when adopting such ruling. Whatever decision being made, must be able to solve problems and at the same time not harm the building industries. The price of housing is already considered high and now with the new earthquake design guidelines, it would

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push the price higher. The recent seminar organised by The Institution of Engineers Malaysia (IEM), Sabah Branch spelt out very drastic design guidelines using a single value for PGA value of 0.12g by the committee drafting the National Annex for the Malaysian Standard (MS). The disappointing issue is the committee fails to include Sabah content i.e.

Sabah IEM; SHAREDA and Sabah Mineral And Geoscience Department. Experts such as Prof.

Dr. Felix Tongkul was not even consulted. Sabah Geology and fault lines defers to that of West Malaysia and Sarawak.

It is very unrealistic to have a single PGA value, but should go for micro zoning for different parts of Sabah. This is being practiced in Taiwan. Epicenters such as Ranau or Lahad Datu should have higher value, whereas Kota Kinabalu and other district such as Beaufort that’s away from the Epicenter should have lower PGA value. SHAREDA proposed that the relevant authorities could seek second opinion from expert countries such as Philippines, Taipei or even Japan before adopting such proposed ruling in Sabah, and not to jump into conclusions so hastily by only listening to their committee’s opinions. The committee involved must also consult other expert countries.

Hope China Could Help to Develop Sabah’s Regional Transportation - MCCC Sabah and China can unleash its strength and growth beyond imagination in the Southeast Asia region with the combination of China’s funds, technology and talents and the strategic location and rich natural resources of Sabah, The Borneo Post reported.

Malaysia-China Chamber of Commerce (MCCC) Sabah branch chairman Datuk Lau Kok Sing said Sabah is located strategically at the centre of the Brunei, Indonesia, Malaysia and Philippines – East Asean Growth Area (BIMP-EAGA), which boasts a population up to 70 million.

Lau added that the vast potentials in the BIMP-EAGA countries are relatively untapped because of the lack of sea and land transportation for more than a decade.

“Hence, we hope that China, with its financial capability and technology, could help develop sea and land transportation as well as logistics in the region, especially Sabah.

“Once the transportation network between Sabah, Kalimantan and southern Philippines

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is established, it will connect the whole region.

This will boost the tourism, logistics, trade and manufacturing sectors, bringing incalculable economic value and business opportunities to the region.”

He said this during a courtesy call by the Consul General of the People’s Republic of China in Kota Kinabalu, Chen Peijie, in Kota Kinabalu on December 10.

The chamber also hoped to see more airlines flying to Sabah to spur the local tourism industry, Lau added.

At the same time, he hoped Chinese banks, such as the Bank of China and the Industrial and Commercial Bank of China, would set up a branch in Sabah as soon as possible to provide businesses the convenience of doing transactions in Renminbi.

Lau also pointed out that since the ‘One Belt One Road’ initiative, many entrepreneurs were flocking to Malaysia, but mostly to peninsular.

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“There are many Chinese entrepreneurs and government officials who meet with our national MCCC every week.

But they lacked understanding about Sabah. Hence, we hope the Consulate General of the People’s Republic of China in Kota Kinabalu could assist us and enable us to have the opportunity to meet with them, as well as to encourage more of them to come to Sabah to discuss investment opportunities.”

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NEWS

Sabah Will Continue Developing Oil and Gas Sector

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According to the text, Musa said Sabah currently produced about 22,000 barrels of oil per day, which is almost 40 per cent of the total national oil production of 557,000 barrels per day, and the figure was expected to grow even further over the next few years.

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Despite the challenging global economy and plummeting oil prices, Sabah will continue pushing for development in the oil and gas sector said Chief Minister Datuk Seri Musa Aman, The Borneo Post reported.

He said there were a lot of opportunities in the oil and gas sector to be unlocked in the state, thanks to its vast deep water oilfield that is yet to be explored and its strategic location to serve the growing exploration and production activities within the Asia-Pacific region.

“Although the current global economic challenges and the decline of global oil prices, the Sabah government will continue to further strengthen Sabah’s position in the oil and gas industry,” he said in a speech at the Sabah Oil and Gas Contractors Association (SOGCA) Symposium here, last Monday (December 7).

The text of his speech was delivered by Deputy Chief Minister cum Industrial Development Minister Datuk Seri Raymond Tan Shu Kiah, who represented him at the function.

The Chief Minister stressed that the state government recognized the vast potential of the oil and gas industry in accelerating Sabah’s social and economic development, and therefore welcomed any investment that would help the industry grow.

“Sabah has 12 oilfields and four gas fields in production, while 41 oil and 47 gas fields have been discovered as of August last year. There are 28 active PSCs (Production Sharing Contracts), operated by 15 companies.

“Not only that, our massive deep water exploration potential has also shown positive and encouraging progress. Petronas and Shell, together with several reputable international oil exploration companies, have invested in joint ventures in deep water exploration at offshore and onshore Sabah which will further push the sector forward.

“Sabah boasts massive deep water potential and the first state to commission the first and second deep water field, namely Kikeh, which is 1,300 meter in depth and Gumusut-Kakap which is 1,200 meter in depth. Gumusut-Kakap is capable of producing up to 125,000 barrels per day,” he said.

Kota Kinabalu Voted as One of the Best in Asia Pacific

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The city of Kota Kinabalu has been voted one of the best resort destinations by readers of CEI Asia, a publication for tourism and travel news, conferences, event and incentives.

This puts Kota Kinabalu on the same level as Bali and Phuket, according to the results, as reported by The Borneo Post.

Sabah’s manpower capacity and capabilities needed to be reviewed and enhanced to ensure continuous support and sustainability in the industry.

Towards this end, he said the government had been working closely with industry players to raise professionalism, develop competencies and provide opportunities for skills upgrading.

A committee has also been set up to look on the human capital needs in the critical sectors, including the oil and gas, he added.

“The oil and gas sector is in a challenging yet interesting time. For both the industry and government, the situation has become an imminent factor that calls for measures to address strategies and policies to ensure that the long term outlook for the industry remains positive. As such, I am glad that this forum is organized as it provides the industry a platform to address the issue.

“Indeed, the presence of Petronas and Shell, as well as other global players in Sabah, is testimony to the importance of the oil and gas sector in Sabah, and this presents vast opportunities for the oil and gas contractors in the state,” he concluded.

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The CEI’s annual industry survey, the CEI Readers’ Choice Awards, has been running for 15 years and sets the benchmark to showcase Asia Pacific’s best in business events.

According to the CEI website, travel industry heavyweights Singapore and Hong Kong have retained their positions as premier MICE destinations, competing for the top spot in numerous categories.

Against the backdrop of economic changes in the oil and gas industry, Musa said that a strategy to develop a new generation to take on the tasks in both oil and gas segments was needed.

New nominations from Hainan, the Philippines and Vietnam have made their way into the top three.

This year, the CEI Asia readers’ survey also added new categories, bringing in wins for airlines and newly-opened venues.

Full results can be seen in the CEI website as well as in their December/January issue of the magazine.

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Gumusut Kakap 2.

Aerial view of Kota Kinabalu This page 1.

SHAREDA President Datuk Francis Goh 2.

Kota Kinabalu, Sabah

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61

NEWS

Mile 10-15 Kuching/Serian Road to Be Upgraded From Two to Four Lanes

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The single carriageway (2 lanes) of 10th Mile to 15th Mile Kuching/Serian Road will be upgraded into dual carriage way (four lanes) and expected for completion by early August 2017, The Borneo Post reported.

Works Minister Dato Sri Fadillah Yusof gave this assurance when he announced that the upgrading the of 9.2km dual carriageway project costing RM79.998 million was awarded to Wellfeel Services Sdn Bhd.

“The 10th to 15th mile single carriageway had been a bottleneck for many years even

though Mile 15th road from Kuching to Serian Town had been upgraded to dual carriageway in 2005,” he said.

Fadillah further explained it was after an indepth research by state and federal Public Works Department that all the problems were resolved and a proper design was drawn up for the upgrading and the tender was open.

“The upgrading of this project has been long outstanding and its implementation was approved in 2014 by the federal government under the Fourth Rolling Plan of the 10th Malaysia Plan,” he added.

He said ownership of the site was handed over to the successful contractor on Nov 10 this year and the project must be completed in 21 months.

Fadillah was speaking at the launching of the project at the compound of Land Transport Department head office on December 10 in Kuching.

He explained the project took a long time to start because of the many challenges such as the reserve land for expansion was small and the many utilities infrastructure that had been laid down along the stretch due to the drastic development in the area.

The project, he added, entailed building four new bridges and replacing one old bridge, upgrading five junctions along the stretch and constructing five U-turns and one roundabout, among others, to ensure smooth traffic for road users.

He reminded that there would inconveniences during the period of the project but assured road users road safety signs would be put up along the stretch.

50% Take Up Rate at GuocoLand’s Upmarket Damansara City Mall DC mall has gross floor area of 320,000 sq ft, four retail floors and a rooftop terrace. There are also an al fresco dining area, vertical gardens and a two-tier roof garden and performance spaces.

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GuocoLand Malaysia Bhd’s Damansara City Mall (DC Mall), part of the RM2.5 billion flagship development Damansara City, is now 50% leased out. GuocoLand expects DC Mall to be 70% leased by its opening in April next year.

Sitting on 8.5 acres of freehold land next to Pusat Bandar Damansara, Damansara City will eventually have two 28-storey luxury residential towers, a five-star hotel, and two 33-storey, Grade A office blocks (Hong Leong Group is the anchor tenant) in addition to DC Mall.

“DC Mall fulfils the promise of being an integrated development that is all-inclusive to its residents and its surroundings. We hope to provide such an integrated living experience across all GuocoLand properties in the future,” GuocoLand Malaysia managing director Tan Lee Koon said at a media preview of the mall.

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“There will be a redistribution of patronage from the surrounding malls such as Bangsar Shopping Centre and Bangsar Village,” said DC Mall senior manager Christine Yeap.

When asked about what makes DC Mall stand out from its competitors, Yeap said, “What we have noticed as an industry, however, is people are moving to the edge of the city centres rather than within them, and we believe our location is truly our selling point for this project.”

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residents and working population but has since “evolved into a lifestyle oasis which will be sustained by the greater community of Damansara Heights and Bangsar as well as being a central destination for the KL-PJ population.”

Its strategic location, 5km away from Kuala Lumpur city centre, is also close to KL Sentral, future MRT stations and the established townships of Bangsar, Mont Kiara and Taman Tun Dr Ismail.

Yeap added that GuocoLand is working with “established operators looking to roll out new-to-market brands”.

Boasting 90 outlets, 70% of DC Mall’s tenants will consist of restaurants and bistros such as Kampachi, Awajiya Curry House, Cake Sense, I Love Yoo and Juiceworks.

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Yeap said the mall was initially intended to service the immediate area’s community of

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Sarawak Works Minister Dato Sri Fadillah Yusof GuocoLand Malaysia Bhd’s Damansara City Mall (DC Mall) near finish

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NEWS

Government’s Desire to Gazette 30 Areas as TPAs Frustrates NGOs

government’s effort, we can achieve the target by 2020,” said Len in presence of Assistant Minister of Public Utilities (Water Supply) Datuk Sylvester Entri.

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More than 30 areas with a total land size of 451,000 hectares across Sarawak has been identified to be gazette into totally protected areas (TPAs) as national parks, wildlife sanctuaries or nature reserves by the state government. However, the state’s effort, according to Assistant Minister of Environment Datuk Len Talif Salleh, had been frustrated by both local and international NGOs. Len said that the government has identified more than 30 areas across the state, consisting 451,000ha to be gazetted in the next four years or so, as national parks, wildlife sanctuaries or nature reserves, as reported by The Borneo Post.

“Assuming that there is no provocation and instigation from the NGOs, or from those people who are trying to frustrate the

Citing the example of Bengoh National Park, Len said an NGO has managed to instigate the locals which finally led to the government withdrawing the gazette process.

In Lawas, the government suffered another setback where it again withdrew another of its plan to turn an area into totally protected area.

“A lot of things have been happening on the ground,” said the Belawai assemblyman.

It has been the state government’s target to turn one million ha of its natural forest into totally protected areas in the form of national parks, wildlife sanctuaries and nature reserves by 2020. Presently, a total of 623,000ha have been gazetted as national parks, wildlife sanctuaries or nature reserves.

The state is still short of 451,000ha to achieve its target by 2020.

Refusing to give in to the NGOs, Len believed that the state would need to inform the people of the advantages of having an area

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gazetted as TPA with the local people as the biggest beneficiary.

“What we try to do is to continue the process and try to educate the local people on the advantages of letting an area be gazetted as national park, wildlife sanctuary or nature reserve.

“We will keep on explaining to them the advantage of areas being gazetted (as TPAs) so that we can help to manage the areas for them,” said Len who is also Assistant Minister of Promotion of Technical Education.

He said there had been the notion that once an area was gazetted, the locals would have no more rights to the land.

“What is important is once an area has been gazetted as TPA, the government can help the locals to manage the area in terms of its timber and fish resources or flora and fauna in a sustainable manner.

“This is important. We do not want certain quarters who have evil intention to frustrate our effort to gazette the areas,” said Len. He said there were already successful cases where the Forest Department and Sarawak Forest Corporation had managed to educate the people whereby they too had benefited from the ‘tagang system’.

14 Companies to Share Ideas on Malaysia-Singapore High-Speed Rail and received more than 200 submissions which we shortlisted to 98. From that amount we have invited 14 companies for their views and ideas.

Hamid Albar pointed out that there is strong interest from China for the KL-Singapore HSR development.

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China Railway and some other 14 companies have been invited to present their views and ideas to Malaysia and Singapore for the development of the high speed rail (HSR), New Strait Times reported.

According to Chairman of Land Public Transport Commission (SPAD) Tan Sri Dr Syed Hamid Albar, there have been several key developments for the proposed HSR which will link Kuala Lumpur and Singapore.

“We have decided the terminus for Malaysia would be in Bandar Malaysia while for Singapore it would be in Jurong East. We have also called for request for information (RFI)

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“I will not dispute any of their points such as their enthusiasm and localisation plan for the HSR development. We have seen Chinese contribution to our country but the rest is all left to competition,” he said in his keynote speech at the China High Speed Railway symposium event.

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to Jurong East. It will cut travel time to 90 minutes from five hours by road, currently.

Seven stops have been identified, including Putrajaya, Seremban, Ayer Keroh, Batu Pahat, Muar and Nusajaya.

Hamid Albar also said that Malaysia was spending RM160 billion on railway development and it is hoped that the nation will become the centre of rail development in South East Asia.

“We want our rail to be people centric, concentrating on giving the best service at affordable prices.”

“China has been actively lobbying to be a partner in the KL-Singapore HSR link, but other countries including Japan and South Korea have also expressed their interest in the project,” he added.

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The planned HSR link is expected to cover 340km to 350km from Bandar Malaysia

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Datuk Len Talif Salleh The planned HSR link is expected to cover 340km to 350km from Bandar Malaysia to Jurong East.

New PR1MA logo The shipbuilding and ship repair (SBSR)

Is PR1MA a Total Failure?

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Armani Media Sdn Bhd managing director K.K. Chua concurred, saying that only 10% of the 500,000 units targeted have been approved.

“PR1MA target is 500,000 homes by 2020 and 72 projects have been approved, which can only deliver 50,000 units. That is only 10% of the set target. Of the 50,000 units approved, none have been delivered and we don’t know when they will be delivered,” he said.

He said the main issue with the programme is the location of the projects, which are “far flung”.

Gambero pointed out that PR1MA is just the tip of the iceberg as there are many other schemes for affordable housing in Malaysia.

“Why not unify them under one name, one minister – International Trade and Industry Ministry or Finance Ministry – and just have one entity in charge of it.

“In terms of figures, the numbers in the last three Budgets are ridiculous. If we consider that all developers in Malaysia cannot deliver more than 160,000 homes a year (based on Rehda statistics), how can the government or agencies promise 500,000, 600,000 or 700,000 units?” he questioned.

Gambero also said that under Budgets 2014, 2015 and 2016, a total of 800,000

homes have been promised, of which less than 25,000 have actually been launched, therefore he urged the government to look seriously at this issue in a proactive way.

The corporation pointed out that it recognises the demand for market home for middle-income Malaysians, and is aware of affordability in areas where PR1MA is present.

A good thing to do Meanwhile, Andaman Property Management Sdn Bhd managing director Datuk Seri Dr Vincent Tiew said PR1MA is a good programme but lacks communication.

PR1MA further explained that it even takes on demand analysis, using ‘location preference data’ given by registrants, which number 1.2 million people to date.

“There are projects that are actually built in very prime areas but I think PR1MA lacks communication, of consistently sharing information and creating awareness with the public.”

“Our product matches the demand at the location of our projects. We cannot stress enough that PR1MA projects to date are in locations where PR1MA homes are in demand by middle-income Malaysians nationwide,” PR1MA added.

He highlighted two concerns – the questionable approval of many units in areas with low population and the segregation of allotments in such projects.

The corporation had also rebutted that as for now, its Members of Corporation (MOC) has approved the construction of a total of 232,807 units from 190 projects.

He said some PR1MA projects with up to 6,000 units have been approved in areas with a population of less than 20,000, just to meet the numbers. It is also unclear whether or not the bumiputra quota still applies to PR1MA.

“That is approximately 97 per cent of our three-year mandate of 240,000 units. Of this 67,435 units are already in various stages of construction and 883 units have been delivered,” PR1MA added.

“PR1MA is a good thing to do. But as they moved along, PR1MA suddenly realised that the funds to buy land and build are getting tougher to get, almost impossible. So they changed the style to joint venture, to deliver the numbers.”

PR1MA further indicated that it needs to maintain the momentum it has achieved in constructing 500,000 homes for the middleincome group. It also stated that so far, PR1MA had reached significant milestone and will continue to attain its next benchmark.

More Than Just Brick and Mortar PR1MA, responded to the statements made yesterday stressing that it is empowered to plan, develop, build and maintain its developments throughout the country, and that it focuses on delivering “more than just brick and mortar”.

The corporation added that it has recorded considerable progress despite of being newly established. Additionally, PR1MA regarded that it will remain mindful that there is plenty to be completed to ensure it achieves its mandate.

SBSR Industry Will Continue in Sarawak to Support Country’s Growth industry has been identified as one of the strategic industries to lead Malaysia towards becoming a developed nation by 2020.

He said a study by Malaysian IndustryGovernment Group of High Technology (MIGHT) showed that the SBSR industry generated RM7.1 billion in revenue in 2013 alone.

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The shipbuilding and ship repair (SBSR) industry will continue to be seen as one of the 10 major industries to be developed in Sarawak and also a major contributor to the country’s growth, The Borneo Post Reported.

According to Prime Minister’s Special Envoy to East Asia, Datuk Seri Tiong King Sing, the

“The study also indicated that shipyard companies generated export value of RM1 billion and created 35,000 jobs,” he emphasized.

“For Sarawak alone, SBSR industry generated revenue of RM2.83 billion in that same year and had been able to create more business

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and employment opportunities for the locals,” he continued.

There were approximately 110 shipyards in Malaysia – which 70 were in Sarawak and about 50 of them are in Sibu, revealed Tiong who is also Bintulu MP. “Sibu still remains as the heartland of the country’s SBSR industry with a long history of shipbuilding that can easily be traced back to nearly a century ago.

“So, it is also our hope to see the industry continue to expand and prosper, and to create more business and job opportunities for the local people,” he expressed.

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One Bedroom Apartment at Elizabeth Quay, Perth Topped AUD$1 Million French chateau with 10,000sqm of gardens and a 1920s “palace” in Spain.

Compare and contrast: French chateau advertised for sale at AUD$936,356.

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Prices for one-bedroom apartments in Perth have broken the AUD$1 million (RM3.15 million) mark at Elizabeth Quay. More than AUD$250 million worth of apartments at The Towers complex at the waterfront site have been either sold or reserved, including one-bedroom apartments priced between AUD$640,000 (RM2 million) and AUD$1,050,000 (RM3.3 million). The onebedroom apartments range in size from 40sqm (430sqft) to 65sqm (700sqft).

Prices rise the higher up the tower they are and those facing the inlet are the most expensive. Industry sources said it could be the first time a one-bedroom apartment in Perth had sold for more than AUD$1 million.

The only other one-bedroom apartments being advertised close to AUD$1 million were in Cottesloe “from AUD$975,000”.

The West Australian crunched the numbers on what AUD$1 million might buy overseas.

Among the more whimsical finds were a onebedroom 150sqm apartment in a “fairytale castle” in Tuscany in Italy, a seven-bedroom

Two-bedroom apartments at The Towers cost between AUD$975,000 and AUD$1.7 million for 85sqm-100sqm and three-bedroom apartments ranged from AUD$1.4 million to AUD$3 million for 110sqm-160sqm.

One of three penthouses — the cheapest at AUD$4 million — has been sold, but the bigger penthouses, priced at AUD$8 million and AUD$12 million, remain on the market.

PRD nationwide project marketing manager Angus Murray, marketing agent for the apartments, said he expected to sell the bulk of them “this side of Christmas”.

“The one-bedrooms have seen quite a lot of young people working in the city,” he said.

“The three-bedrooms have mostly all been baby boomers looking to downsize.

“Quite a few of them are already living in apartments in the city.”

Mr Murray said just 5 per cent of the apartments were sold to foreign buyers and most interest came from locals.

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Andrew Toulan, a director of waholidayguide. com.au who signed on the dotted line for his one-bedroom apartment, said the development was one of the few pieces of Perth real estate right on the edge of the river.

The Towers will be anchored by a planned Ritz-Carlton hotel, construction of which is expected to start in the new year.

The hotel and apartment complex will ultimately sit alongside other commercial developments, progress on which has stalled with the two-year deferral of Chevron’s planned headquarters.

The State Government hopes to open Elizabeth Quay before the end of the year, but it remains unclear just what will be completed when it opens.

Construction of the AUD$440 million foreshore development officially ended this month when the excavation work was completed. But there is still considerable work to do on landscaping, paving and fittingout food and beverage outlets.

A wooden boardwalk hugging the water’s edge is largely complete, as are short-stay berths for public boats.

Work on at least one piece of public art — a AUD$1.3 million entry statement dubbed “the paperclip” by some — has started.

He said the level of interest had beaten expectations.

Scarcity and Soaring Land Prices Drives Up Property Prices in Kota Kinabalu For instance, two-storey semi-detached houses within Kota Kinabalu’s hotspots such as Foh Sang, Damai, Luyang, Lido and Kobusak — are priced between RM1 million and RM1.6 million in the secondary market, while those located in suburbs are priced between RM500,000 and RM1 million, he noted.

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Property prices in Kota Kinabalu’s city centre have shot up as land becomes more scarce and expensive, said Sabah deputy chief minister and state industrial development minister Datuk Seri Panglima Raymond Tan Shu Kiah at the Malaysian Secondary Property Exhibition (MASPEX) Sabah 2015.

“Landed properties and luxury high-rises in the city centre can fetch higher prices than those of similar properties in the suburbs,” said Tan, who officiated at the opening of the exhibition organised by the Malaysian Institute of Estate Agents (MIEA)

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Meanwhile, two-storey terraced houses within the hotspots are priced at between RM500,000 and RM1 million, while those outside the hotspots cost between RM350,000 and RM500,000.

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Meanwhile, luxury condominiums such as The Peak Vista, Puteri Damai, The Loft, Marina Court and Puncak Layang are popular due to their close proximity to the city.

Units at The Peak Vista, with sizes ranging from 1,282 sq ft to 2,448 sq ft, are asking between RM1.2 million and RM3 million.

New condo units launched last year in Sri Gaya and Damai areas were sold at between RM1.9 million and RM2.9 million, and RM900,000 and RM1.5 million respectively, Tan noted.

New two-storey terraced houses launched last year in Penampang were sold between RM440,000 and almost RM1 million.

Even single-storey terraced houses in Foh Sang and Luyang can fetch a price of RM500,000 easily, he said.

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An artist impression of The Towers at Elizabeth Quay From right; Sabah deputy chief minister and state industrial development minister Datuk Seri Panglima Raymond Tan Shu Kiah discussing current property market conditions with Property Hunter’s director, Elson Kho

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THE RINGGIT IS GOING TO DROP FURTHER, SAYS ROBERT KIYOSAKI Robert Kiyosaki, the best-selling author of Rich Dad and Poor Dad, has changed the way millions across the world think about money. Malaysia is no different, which is why an exciting two-day event, Master of Wealth (MOW) was held at the One World Hotel, Petaling Jaya.

Brought to Malaysia by Success Resources, MOW is designed to help existing and future business leaders, entrepreneurs, investors and interested individuals achieve outstanding results in an increasingly competitive world.

Apart from the main speaker Kiyosaki, MOW will also include: JT Foxx, the world’s number one Wealth Coach; Peng Joon, the World’s leading Authority in Wealth Creation Online; Kevin Green, Expert in Business & Property Investing; Mario Singh, the Asia’s number one Online Trading Coach; Jonathan Quek, Entrepreneur, best-selling author and financial speaker, founder/CEO of SilverMalaysia.com; Sean Seah, Master of Value Investing; Tom Hua, World’s Leading

Internet Business Coach; and special guest Richard Duncan, best-selling author and Economic Specialist.

As the exclusive Gold sponsor of MOW, Andaman Group managing director Dato Sri Dr Vincent Tiew handed over 100 free tickets, including VIP tickets to the Andaman’s loyal property purchasers, as well as for the winners of the Andaman’s Facebook campaign.

“I’m excited to see him again personally and I am looking forwards for the crash as Andaman is prepared for the inevitable,” said Tiew on par with Kiyosaki’s prediction on the 2016 market crash.

Some of the topics covered during the event includes The good, the bad and the great opportunity to thrive in 2015, Why right now is your best opportunity to start a successful

Australia Introduces New Foreign Investment Regime

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Under the new regime, foreigners who illegally buy Australian real estate will face up to three years in jail or fines of AUD$135,500 (RM426,825) for individuals and AUD$675,000 (RM2.12 million) for companies.

Australia put into force a robust new investment regime Tuesday (Dec 1, 2015) cracking down on foreigners who unlawfully own residential properties and tightening scrutiny on purchases of farmland from overseas.

The government announced in May it planned to fine and even jail foreigners who flouted rules that only allow them to buy new dwellings, and not existing residential property.

Real estate prices have soared in recent years, particularly in Sydney and Melbourne, with concerns mounting that cashed-up foreigners, particularly from China, have helped inflate the market.

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business, How good debt is easy to get and make you rich, Generating multiple streams of income before the crash in 2016 and so on.

“The Ringgit must devalue, or export will be affected. The Ringgit is going to drop one more time,” said Kiyosaki at the event when he spoke about the downfall of the Malaysian Ringgit.

“If you save money and invest in the stock market, you will get wiped out,” he stated further, besides adding that the people involved in the marketing industry have a bright future.

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“The government welcomes foreign investment that is not contrary to our national interest,” said Treasurer Scott Morrison.

“Without foreign investment, production, employment and income would all be lower.

But it is important that foreign investment is appropriately monitored to ensure that it benefits all Australians.”

“New civil penalties supporting divestment orders and ensuring people who break the rules do not profit from their actions also come into effect,” added Morrison.

“These include forfeiting any capital gains made on divestment of a property and fines for third parties who knowingly assist foreign investors to break the rules.

“Under these new arrangements foreign investors who fail to comply with the foreign investment rules will not be able to profit from doing so.”

Fees will also be levied for the first time on foreign investment applications.

Australia has also improved scrutiny and transparency around foreign ownership of agricultural production amid concerns about valuable assets passing into foreign hands.

Morrison said a new agricultural land foreign ownership register had been established with any bid by a foreigner that brings their cumulative farmland investments to more than AUD$15 million to be screened by the national regulator.

Previously, the Australian Foreign Investment Board only screened foreign investment for purchases of agricultural land over AUD$252 million.

Direct interests in agribusinesses valued at AUD$55 million or more will also be sent to the Foreign Investment Review Board.

“While foreign investment in agriculture provides important economic benefits, we have acted to improve scrutiny and transparency around foreign ownership of Australia’s agricultural production,” said the treasurer.

Last month, Morrison blocked the sale of one of the world’s largest cattle estates to foreign entities, ruling it was not in the national interest.

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Buyers From Mainland China Are Turning Away From Sydney and Melbourne Successful auctions also dropped to a threeyear low in Australia’s most-populous city as record prices put off buyers.

John McGrath Chinese buyers “are still there, but it is probably back 10% or 15% from where they were a year ago,” McGrath said. “I think there is a whole combination of things there.

The Chinese stock market and so forth.”

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Chinese demand, which helped propel a surge in Sydney homes, has dropped as much as 15% from a year earlier as China’s stocks tumbled and the economy slowed, according to real estate agent McGrath Ltd, reported by Bloomberg.

Buyers from mainland China are turning away from Sydney and Melbourne and looking at other parts of Australia where dwelling values are “compelling,” John McGrath, chief executive officer of McGrath, said after the firm debuted on the Australian share market in Sydney. The shares opened at A$1.94 compared with the issue price of A$2.10 in an initial public offering that raised A$129.6 million (RM399 million).

Sydney and Melbourne prices are at the end of the “growth cycle,” McGrath said.

After running up 47% in the three years to October, sending the value of an average Sydney house to about A$1 million, home prices in the city dropped 1.4% in November, the biggest decline in at least five years.

The Shanghai Composite Index has dropped almost a third from its June high. Credit Suisse Group AG Sydney-based analysts Damien Boey and Hasan Tevfik said in a note Nov 3 that waning confidence among Chinese buyers could dim their appetite for global property by 30 percent in 2015.

McGrath shares, which fell as much as 8.6%, were trading 6.9% lower at A$1.95 as of 1:31pm in Sydney. The benchmark S&P/ ASX 200 Index rose 0.1%. Existing investors, including McGrath, the firm’s millionaire founder, sold 31 million of their shares as part of the IPO, according to the prospectus.

“We are in a good position,” McGrath said after the listing. “Our growth prospects are outstanding.”

Three 747s in Lost Property at Kuala Lumpur Airport

He said they were “international” and not Malaysian, but declined to give further details.

Malaysian airport authorities now have a new problem – three Boeing 747 planes left unclaimed at Kuala Lumpur International Airport (KLIA). The airport operators have placed a bizarre advertisement in a Malaysian newspaper seeking the owners of three 747200F aircraft apparently abandoned there, AFP reported.

“If you fail to collect the aircraft within 14 days of the date of this notice, we reserve the right to sell or otherwise dispose of the aircraft” under Malaysian regulations, said the ad which ran in Monday’s edition of The Star.

The notice was addressed to the “untraceable

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The IPO values McGrath at A$272.1 million and will provide the funds to reduce debt and pay for the acquisition of a smaller competitor, the firm said in its prospectus. The transaction comes as home values dropped for the first time since May in Sydney.

The realtor has 3% national market share and aims to take it past 20% in the medium term, McGrath said. The company plans four to six acquisitions over the next four to five years, he said.

“Australia has many different markets,” he said. “Sydney and Melbourne markets, there is no doubt, are at the end of the growth cycle. We don’t depend on one or two markets. Our business is about volumes and interestingly when the markets calm, we see volumes go up.”

McGrath, which owns some branches and operates others under franchises, has a presence on the east coast, predominantly in New South Wales state and the Australian Capital Territory, and is expanding in Queensland state, according to the prospectus. It plans to establish an operation in Victoria state. McGrath has a 7.2% market share in NSW and 5.4% in the ACT. Bell Potter Securities Ltd and JPMorgan Chase & Co managed the share sale.

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owner” of the planes. Zainol Mohd Isa, general manager of Malaysia Airports (Sepang), which operates the facility, said the airport had been trying to contact the planes’ last known owners.

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“I don’t know why they are not responding.

There could be many reasons. Sometimes it could be because they have no money to continue operations,” Zainol said.

In addition to wanting the planes to be claimed, he said the airport is seeking payment from the owners for landing, parking and other charges.

Zainol said two are passenger aircraft and one is a cargo plane.

It is not the first time this has happened at the airport, Zainol added. In the past decade a few other planes, mostly smaller aircraft, were abandoned.

He said an aircraft that was abandoned in the 1990s was eventually bought and turned into a restaurant in a Kuala Lumpur suburb.

KLIA was the origin of Malaysia Airlines flight MH370, which disappeared after taking off on March 8, 2014 with 239 passengers and crew aboard in what remains one of aviation’s greatest mysteries.

If no payment is received by December 21, the planes will be auctioned or sold for scrap to recoup the outstanding charges.

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Robert Kiyosaki, the best-selling author of Rich Dad and Poor Dad 2.

The official website for Australia’s Foreigner Investment Review Board (www.firb.gov.au)

The notice gave the planes’ registration numbers as TF-ARM, TF-ARN, and TF-ARH.

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Flinders Station, Melbourne 2.

Kuala Lumpur International Airport (KLIA) in Sepang.

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Why Would Thriven Global Bhd Launch RM1.8 Billion Worth of Projects When Market Is Soft?

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in Penang. It is now focused on growing the Lumi Collections.

Thriven has four divisions — property development, property investment, hospitality and lifestyle retail, and facility management.

“The property development division generates lump sum revenue and profit while the remaining divisions generate constant recurring income for the company.

It is important to balance these businesses [among one another]. In the next five years, we hope to get 70% of our revenue from property development, and 30% from recurring income. Property development will be the major revenue contributor.”

For its property investment division, Thriven retains commercial properties in its own projects and rents them out. Its facility management division provides housekeeping and maintenance services while its hospitality and lifestyle retail division offers hospitality services and rental management for properties in the Lumi Collections.

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In a soft property market where product launches are being halted or postponed, Thriven Global Bhd is bucking the trend. Its managing director Ghazie Yeoh Abdullah declares: “I have a habit of doing property development in a distressed market because firstly, there is a lack of competition (as other developers hold back).

“Secondly, we can get the best construction prices. For example, when we awarded the contract for substructure works for our project Lumi Tropicana, the eventual cost was 15% lower than our initial budget. It was a very good contractor with a good track record. During this period, contractors are looking for good projects and paymasters.

This market is ideal for Thriven because we can transfer the cost savings to our buyers.”

Formerly known as Mulpha Land Bhd, the company changed its name to Thriven Global Bhd , in June this year to reflect its new leadership and corporate vision. Its board of directors now includes Ghazie; non-independent executive chairman Datuk

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Fakhri Yassin Mahiaddin; non-independent executive director Datuk Low Keng Siong; independent non-executive directors Lim Kok Beng, Lt Col (R) Abdul Jalil Abdullah and Henry Choo Hon Fai; and non-independent nonexecutive director Lee Seng Huang and his alternate, Lee Eng Leong.

New Offerings As part of its new management and business model, Thriven has created two brands with separate market segments — the Enesta Series with affordable housing, and the Lumi Collections with affordable luxury homes.

These brands will be available in its upcoming projects. Two are being built in Petaling Jaya — one opposite the Tropicana Golf & Country Resort and the other in Section 13 — and another two in Kepong and Bukit Tunku in Kuala Lumpur.

Thriven plans to launch projects with a combined gross development value (GDV) of RM1.8 billion over the next 18 months, says Ghazie, and is also tentatively looking to venture into the international market, especially the Middle East, where he worked for five years. He adds that Thriven is open to undertaking projects for other developers after completing its own.

Currently, the Enesta Series homes are available in Thriven townships in Desa Aman in Kedah and Taman Bukit Panchor

“Return on investment is something very important to show buyers regardless of the sector [the properties fall under]. The hospitality and lifestyle retail division as well as the facility management division will put us in a different league, as they allow us to provide a one-stop service centre for the whole lifecycle of a property, from commencement to development and subsequently completion,” Ghazie explains.

Thriven is one of the few developers that manages the properties it builds, and its subsidiary Eco Green Services handles its facility management division. Eco Green currently manages the completed projects Raintree Residence and Enclave Bangsar, in Kuala Lumpur.

Thriven aims to make Lumi Collections a full-range hospitality management brand, not unlike the Fraser Hospitality chain. “Not only will it provide recurring income for the company but it will also manage our own developments and grow to become the next Fraser,” Ghazie says.

The first of the Lumi Collections Lumi Tropicana is the first project launched under Lumi Collections. Its first two towers, called Play and Action, house a total of 368 units and are open for registration. The two towers have a combined GDV of RM360 million.

The 6.4-acre leasehold Lumi Tropicana will have four 31-storey residential towers and a combined GDV of RM850 million. It is located directly opposite Tropicana Golf & Country Resort in Persiaran Tropicana.

Thriven acquired the land in Tropicana in December 2013 for RM115 million. Ghazie says the project’s GDV was RM740 million, and has since risen to RM850 million. Lumi Tropicana will have retail and soho (small office/home office) sections in its podium. The former, Lumi Marketplace, measures 62,000 sq ft, while Lumi SoHo will offer 62 units of between 753 and 764 sq ft in built-up area.

Ghazie says Lumi Tropicana has received RM308 million worth of bookings its sales gallery was opened on Nov 9. “We believe we will be able to convert 70% of the registrations,” he adds.

The residential component of Lumi Tropicana offers 744 serviced apartment units in 2 and 3-bedroom configurations. There will be six units per floor served by three lifts in each of the four towers.

Priced at an average of RM900 psf, they have a built-up area of between 862 and 2,218 sq ft. All units are provided with fittings, such as kitchen cabinets, storage cabinets and wardrobes. The maintenance fee and sinking fund have been fixed at 33 sen psf.

“As we classify (Lumi Tropicana) as ‘affordable luxury homes’, a majority of the units are below RM1 million. We select materials that are cost-effective, like marble and granite.

We don’t offer penthouses because we don’t think they are a good investment option,” says Ghazie.

About 32% of the land in Lumi Tropicana will be dedicated to greenery is a bid to win Gold certification on the Green Building Index.

Each tower will have its facilities suited to its needs. For example, Play Tower will have a fully equipped music room, theatre, study room and children’s jungle gym while Action Tower will have a squash court, and table tennis and pool tables.

A third block — Wellness Tower — will have a self-spa facility, gym, and yoga and pilates areas; and the Business & Lifestyle Tower will have a fully equipped conference room, meeting room, wine and cigar lounge and ‘sky dining facility’.

There will also be a separate three-acre deck with over 50 facilities, including a futsal court, badminton court, rock-climbing wall and

jogging track.

“There will also be the longest swimming pool — at 190m — in Asia. It will face a golf course and beat the 150m swimming pool at Marina Bay Sands,” Ghazie says.

Thriven will open the Lumi Tropicana sales gallery to the public on Nov 27. The official launch is in March next year, when the third tower is opened for sale. Ghazie is confident the project will sell out despite the poor current state of the property market.

“We are cautious but at the same time we are optimistic, because at the end of the day, location is very important. We don’t have many projects but those that we do are ideally located, with public amenities such as grocery stores, government schools, international schools and public transport,” he says.

Thriven is looking at 3% net rental yield per annum and believes the project will achieve a minimum of 10% capital appreciation upon its completion in four years. Ghazie says the Lumi Collections’ hospitality and lifestyle retail division will make it hassle-free for investors to rent out their units.

“We believe the project will hit a minimum 10% capital appreciation upon completion because we are affordably priced compared with other projects in the surrounding areas,” he says. “Tropicana Gardens (located about 1km from Lumi Tropicana) is fully sold. With an LRT3 station at their doorstep, the units are priced at RM1,100 psf net. Our price is averaging at RM900 psf and we also have an LRT3 station — that alone constitutes at least 10% value appreciation. That’s what we always do because we believe in leaving some money

of which 160 were recently balloted. The construction of the rumah mampu milik will commence in 2Q2016.

The serviced apartment component will have 250 units of between 957 and 1,100 sq ft and cost RM500,000 each. There are also eight lots of 3-storey commercial space, which the developer will retain for recurring income.

“In Malaysia, our focus for the next three years are the central and northern regions,” Ghazie says. “We branded Desa Aman in Kedah into the Enesta Series and we saw a big turnaround. Currently, Desa Aman is one of our cash cows, strongly boosting the cash position of the company.”

Next year, Thriven will launch RM41 million worth of projects in Desa Aman alone, of which 128 acres of 144.4 acres are still to be developed.

With all these projects in place, Thriven aims to generate RM185 million in FY2016 (ending Dec 31) and RM500 million in FY2017.

“Our revenue is small now because we were previously a subsidiary of Mulpha International, so we didn’t use progressive billings. We recognise earnings only upon the completion of projects,” Ghazie says. “Next year, we are revising to progressive billings like other property developers and we project our revenue to hit RM185 million.

“That’s where the challenge lies. In 2018 and 2019, it will be time for us to retain our revenue [which would be RM500 million], reach a fiscal plateau and then go up again with new projects via strategic joint ventures or direct land acquisitions.”

on the table for buyers.”

A launch in Kepong and to the north After Lumi Tropicana, Thriven plans to launch Lumi Section 13 in the fourth quarter of next year (4Q2016). With a GDV of RM310 million, the project will be developed on two acres of leasehold land acquired from Mulpha International Bhd and a 42-storey tower that houses 310 serviced residences.

In the same period, Thriven will launch Enesta Kepong, which will sit on two acres of leasehold land and consist of rumah mampu milik (affordable homes), serviced apartments and a commercial component. The RM250 million development is a joint venture between Amona Group of Companies and Thriven, which is the majority shareholder.

Ghazie remains optimistic on the local property market. He says foreign investors will be attracted by already-low prices that will become even more attractive because of the weak ringgit. “Malaysian properties are highly sought after because this is still a young nation. Local ownership is still quite low, so at the end of the day, the problem is how we can provide an affordable scheme.”

He points out that bank loan approvals remain a challenge, even if the demand is there. “The bottom line is that my products are fully sold but they are sold three times, meaning the deals close only with the third buyer. We have learnt from our experience and we have this queuing system. Each unit has a second buyer following behind, so when the first buyer falls out, the second buyer comes up.”

There will be 250 units under the scheme,

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International Students in Australia Will Drive Apartment Demand

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The growth in international students in Australia will be a key driver of apartment demand in 2016, Colliers International revealed, as reported by Australia Financial Review.

“Local investor interest in apartments may have cooled due to a lending clampdown but the rising international student numbers will fill the gap in apartment demand.”

“International student enrolments grew by 11 per cent in the first quarter this year, compared to the same period last year, and this is the third consecutive year of growth in international student population,” Colliers International’s managing director residential, Peter Chittenden said.

The thriving international education sector in Australia is the nation’s third largest export and is poised for even greater growth,” he added.

“The Australian dollar has fallen by 24 per cent against the major currencies in the last two-and-ahalf years. This has undoubtedly stimulated growth in the sector and the demand in residential accommodation for this population,” he continued..

According to Mr. Chittendenn, the Asian middle class has always valued the Australian education system and now has the capacity to afford it.

International students are demanding more private apartments as well as student accommodation. In Melbourne students comprised half of the CBD’s residential population and half of those were international students, City of Melbourne council said in an international student survey.

The land will have an estimated gross development value of A$34 million (RM105.87 million), the company said in a statement.

It said that the parcel of land is located on 247-251 Neerim Road, Carnegie, just 11km south-east of the Melbourne Central Business District.

Commenting on the purchase, acting president and chief executive officer Datuk Khor Chap Jen said the company was happy to be able to continue to offer S P Setia renowned developments in Australia,

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Sydney and Melbourne are currently experiencing a boom in apartment housing and student accommodation construction, particularly around universities. In Sydney, Fraser Property’s $2 billion Central Park sits opposite the University of Technology Sydney.

There is a spate of apartment construction around Macquarie University in Sydney’s north by Chinese developers Greenland and Country Garden as well as Toga Apartments.

Campus Estates, a new student accommodation developer founded by UK veteran Jon Whittle, is developing a 1000sq m site in Carlton, opposite the University of Melbourne.

UK-based Scape Student Living is developing 1500 rooms at the $400 million developmentapproved Melbourne site bounded by La Trobe, Little LaTrobe and Swanston Streets, right next to RMIT.

“The majority of international students live in off-campus accommodation. The

particularly in Melbourne where it had first set foot.

Property player S P Setia Berhad has bought its third piece of land in Melbourne, Australia, comprising 2,074 square metres for A$6.68 million (RM20.80 million) reported by The Star.

private rental market is the preferred choice of housing and this includes purposebuilt student apartments and student accommodation facilities,” the survey revealed.

As bearish forecasts continue for the dollar in 2016, growth in education export is expected to continue with the lion’s share of the growth provided by China and India, the two top countries with international students.

S P Setia for the Third Time Buys More Land in Melbourne

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“This is S P Setia’s third project in Australia, albeit a small one when compared to Fulton Lane and Parque, the first two developments by S P Setia in Melbourne which are both 100% sold,” he said.

“This acquisition is part of our growth strategy for Australia.

“We aspire to be a prominent developer in Australia and will continue to be on the lookout for good opportunities in the major cities of Australia.

“Besides looking at huge development opportunities, we plan to offer boutique-scale

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developments of not more than 150 apartments in strategic suburban locations such as Carnegie,” he added.

The site acquired has a permit approved for a compact project of 48 apartments over four levels.

It is close to essential amenities such as a shopping centre, a train station, and primary and secondary schools.

It is just 3km away from Monash University, Caulfield Campus.

The company is also targeting strategic pipeline projects in South Australia, New South Wales and Queensland.

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Thriven Global Berhad’s managing director Ghazie Yeoh Abdullah This Page 1.

Demand for apartments and student accommodation will flourish as education export grows.

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Photo of the construction on Fulton Lane by S P Setia in Melbourne

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NEWS

Build a House Within 3 Months With Only RM120 Psf

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per cent when compared to the conventional construction, as well as reducing usage of manpower.

“The system allows homebuilding process to provide certainty of construction with lower cost, shorten the time frame significantly while at the same time creating a high quality production. In line with the efficient and sustainable development, PMH is determined to change the future of home building,” he said.

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If the thoughts of owning your own home without spending way too much money on it, then you are definitely not alone. By implementing the Industrialised Building System (IBS) technology, Prefab Modern Homes (PMH) – a fully bumiputera owned company is offering the promise of building a whole new house within the period of 3 months with affordable cost.

According to PMH spokesperson Mr Abdullah, IBS is a construction technique where components are manufactured in a controlled environment before transported to the site to be positioned and assembled to form a new building. By doing so, the construction wastage will be reduced up to 25

“IBS in Malaysia started in the early 60’s, however the lack of understanding and misconception of the system created doubts to the whole thing. Previously, IBS was considered negative as it is often linked to unattractive designs and such. This is actually not true, as IBS actually allows the building to be easily customized,” he further commented.

“The technology also incorporate with Swedish technical calibrations which is economical, efficient and prominently complaint to the humid and wet tropical climate of our country, “he added.

Prefabricated houses are currently becoming

a popular trend in the United States, Canada and the European countries as they are relatively cheap when compared to many existing houses on the market.

As of right now, PMH is focusing on building personal house on the land owned by the customer. PMH is also offering joint venture terms to develop the land for housing estate with minimum cost.

“At present, PMH team is providing design and building services for IBS projects in the region. Our IBS department personnel have years of experience in design, fabrication and installation of residential, commercial and industry buildings of IBS”, Abdullah said.

PMH past projects include chalets in Mantanani island, Sepanggar Island, the “end point” building in Kiulu for white water river rafting, and also the famous Mari – Mari Cultural Village.

“Our costing is approximately RM120 per square feet, which means you are spending only RM120,000 for building a 1,000 square feet house.” Abdullah emphasized.

For more information regarding to the designs and how to apply, visit www.pmh.my for more details or contact the sales team at +6016 8140114 / +6019 8804900. Interested buyers are also welcome to visit the show units in KKIP Zone 4.

FEDERAL GOVERNMENT DEBT STACKED TO RM623.3 BILLION AS OF SEPTEMBER 2015 He said this in response to a question from Datuk Wira Ahmad Hamzah (BN-Jasin) who asked for clarification from the Finance Minister on the Federal government debt.

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Deputy Finance Minister Datuk Johari Abdul Ghani revealed that The Federal Government debt as of September 30 this year was at RM623.3 billion.

“Of this amount, 96.4 per cent or RM601.1 billion was domestic debt, with the balance of RM22.2 billion or 3.6 per cent being offshore loans in various denominations of currency.

“The government debt is manageable and categorised as a country with moderate indebtedness,” he told the Dewan Rakyat on December 4.

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Johari said the level of the Federal government debt for the stated period to the Gross Domestic Product (GDP) was 53.7 per cent. On the government guaranteed debts, he said the figure was at RM175.8 billion as of June 2015, and given out to 27 institutions, including government-owned companies.

“The reason for providing the guarantee is to enable the institutions concerned to obtain a lower financing cost to undertake long-term strategic development projects which benefit the people as a whole,” he added.

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He said the Federal government was also hosting debt of RM30 billion as of June 2015 for the purpose of implementing programmes under the Private Financing Initiative (PFI) model.

According to Johari, the commitment under this debt had already been computed in the annual budget allocation for the purpose of financing loan repayments.

“The commitment (PFI debt) has also been taken into account in computing the fiscal deficit and the status of the Federal government debt, and will not increase the existing deficit target,” he added

Expats in Asia Pacific Are Among the Highest Paid in the World South-east Asian countries - including Vietnam, Malaysia and Singapore - along with China and Hong Kong, stand out for offering expats the chance to save more money and enjoy greater disposable income.

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HSBC’s latest Expat Explore survey has revealed that expatriates in the Asia-Pacific are among the highest paid in the world, with Singapore in the top five in the region for disposable income and savings, as reported

by Straits Times.

The region’s appeal for professionals is set to increase further with the formalisation of the Asean Economic Community (AEC), HSBC added.

The eight edition of the Expat Explorer survey was completed by 21,950 expats from 198 countries through an online questionnaire in March, April and May 2015 and released on Mon day (Dec 21).

The study found that the annual average salary for expats across the Asia-Pacific is US$126,000 (RM 540,000), the highest compared to the global average of US$104,000.

According to the survey, 65 per cent of expats in Singapore report greater levels of disposable income (compared to a global average of 57 per cent), 60 per cent are able to save more (global average is 52 per cent) and 20 per cent say they have been able to buy additional property as a result of moving (global average is 17 per cent).

The ability to save more, enjoy greater disposable income or acquire real estate assets are all important considerations for expats moving to a new country.

“Managing finances is a key draw-card for living abroad, whether that be in helping to ascend the housing ladder or opening up lifestyle choices for later life. However, it does come with complexities and often means expats need to consider financial planning not in one, but two or more countries,” said Mr Matthew Colebrook, HSBC Singapore’s head of retail banking and wealth management.

Apart from the financial incentives, South-east Asia’s appeal will be heightened as mobile professionals will be able to access a wider job market via the formalisation of the AEC, said HSBC.

Real Estate Sector Investments Dip by RM36.9b

Malaysia drew RM153.2 billion worth of investments in the manufacturing, services and primary sectors for the first nine months of 2015. The total which came in lower than last year’s RM180 billion in the same period last year was mainly due to a big decline in the approvals for investments in the real estate sector, according to the news reported

by New Strait Times.

The AEC - which comes into effect on Dec 31 - aims to integrate South-east Asia as an economic region by reducing barriers to cross-border trade and investment, and allowing freer flow of professionals to work in other markets in the region.

“Asia offers some of the most rewarding job opportunities, allowing expats to experience and learn skills while at the same time, boost their standard of living and raise lifestyle aspirations. As the Asean countries move closer to economic cohesion, skilled workers will be needed to raise the region’s competitiveness and help companies and sectors to offset locational skill shortages or mismatches,” Colebrook emphasized.

Singaporeans are one of the most globally mobile workforces in the region, said HSBC, with some 212,500 citizens living overseas as of June 2015, according to the Department of Statistics.

Based on the sample of respondents surveyed in the latest edition of the Expat Explorer, expats in the Asia-Pacific originate from Australia, Canada, China, India, Indonesia, Malaysia, New Zealand, Philippines, United Kingdom and the United States.

They work in industries such as education, marketing, banking, health, engineering, telecommunications, manufacturing and hospitality.

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International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the real estate sector investments dipped from RM57.9 billion in the period January-September 2014 to RM 21.0 billion this year, consistent with the softening in the property market. Approvals in the other sectors however, especially manufacturing, remained robust.

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The services sector accounted for the largest share of the total investments, contributing 54.0 per cent or RM82.7 billion, followed by the manufacturing sector with investments of RM67.7 billion or 44.2 per cent, and the primary sector with approved investments of RM2.8 billion or 1.8 per cent.

“This indicates that investor confidence in Malaysia remains high despite the decline in global FDI inflows and the challenging global economic environment,” he said.

The investments approved were in 3,727 projects and are expected to generate 139,720 job opportunities for Malaysians.

Domestic investments of RM124.9 billion accounted for 82 per cent of investments, with foreign investments making up the rest.

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Kiub Cabin - ideal for simple yet stylish accommodation that can be fitted in any terrain Concrete house made with IBS method.

Datuk Johari Abdul Ghani Skyline of Kuala Lumpur, the capital of Malaysia A group of expatriates

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NEWS

Why Do House Prices Remain as High as They Are

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“In the case of Malaysia, despite the weak market, prices remain high. So, although the Government wants to encourage house ownership, it has to balance this against debt levels.

The rate of the non-performing loan growth is expected to go higher next year, as the household debt-to-gross domestic product ratio is a lot higher now at about 88% versus previous years,” he further explained.

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Two questions floating around the property market today – why do house prices remain as high as they are and what affects these prices? According to Jordan Lee & Jaafar executive director Yap Kian Ann, Selangor and Kuala Lumpur have a population of 7.5 million with 1.85 million residential units. Migration from other states and foreign purchases will enhance demand, according to the news reported by The Star Online.

“It is a matter of whether the properties are developed in the correct location, at the correct pricing, type and size,” said Yap. As for why prices continue to hold, the property market is unlike the stock market.

It takes time to buy and sell a property, and while there are many investors out there, a roof over one’s head is considered a necessity.

It is only as a result of the 2008 global financial crisis that property became a sought-after investment asset.

Yap said there are some 30 broad factors which affect prices. Each of these can be further broken down, but fundamentally, it boils down to just demand and supply - at the very top of the list is location.

“Property is always about the location. This is then further divided into proximity and distance to the city centre. Usually, areas nearer to the city centre will have better accessibility and are able to fetch better prices,” said Yap. “The second factor is interest rates. There is an inverse relationship between interest rates and property prices,” he continued.

This was clearly seen after the 2008 global financial crisis. In Malaysia, prices began to rise exorbitantly from end-2009/2010

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onwards. Prices have started to ease this year, but continue to remain high.

The financial crisis resulted in central banks around the world propping up their respective economies and monetary systems by releasing more cash into the system. This resulted in low or negative interest rates.

“The low cost of financing pushed up demand for property investment. At the same time, low interest rates discouraged savings, with savers opting for alternative investment modes such as property,” he added.

Continuing low interest rates, coupled with various marketing schemes which require only a minimal initial outlay, have resulted in speculation. To balance this, various measures have been introduced to cool the sector.

“We have seen several of these today. The aim is to reduce demand and subsequently pricing,” Yap explained. “ Singapore, for example, had about eight rounds of cooling measures over a six-year period.

This situation is clearly seen there, as prices of private residential properties have decreased by 1.3% in the third quarter of 2015 compared to the 0.9% decline in the previous quarter, according to the Urban Redevelopment Authority. Some measures will be more effective than others, but the end aim would be to reduce prices to a level deemed satisfactory by the Singapore Government.”

Yap said that although the weakening economic climate will affect demand, the weakening ringgit can be a double-edged sword.

Foreigners can buy Malaysian property at a cheaper price in foreign currency terms, but may also worry about further depreciation of the ringgit.

He says property is viewed as one of the best inflation-hedging tools because high inflation erodes net interest returns on fixed deposits and bonds. Over the longer term, property investment offers better gains.

This and the weakening ringgit has prompted foreign investors to actively monitor residential property in Kuala Lumpur. But due to the current political climate, they are still cautious, according to property consultancy VPC Alliance director James Wong.

Although young people continue to bemoan affordability issues, it is unlikely that prices will come down in the short term. There may be some respite over the longer term if both developers and the Government are prepared to take certain measures. Probably, the most fundamental issue that needs to be addressed is to have quality and current information to enhance planning, says Khong & Jaafar group managing director Elvin Fernandez.

Right now, state and local authorities are giving approvals. Often, one local authority does not know what the other is doing.

Although there is a National Property Information Centre, there is a time lag to these numbers. Continual references have been made to Singapore’s Urban Redevelopment Authority and how they stay on top of the public housing challenge.

KK Needs More Activities to Attract Visitors

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“I feel there is a need for us to conduct more of such events which can be used as an attraction,” he said, as reported by The Borneo Post.

as it was in line with the vision to turn Kota Kinabalu into a sustainable and friendly city by 2020.

He added that such events had the capacity to cheer up and bring life to the city’s ambiance as well as showcase the culture, tradition and way of life of the city folk.

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City of Kota Kinabalu needs to carry out more activities to attract visitors from within and outside of the country, said Mayor Datuk Abidin Madingkir. The mayor gave the statement during his speech at the closing ceremony of the four-day Gaya Christmas celebration held at Lintasan Desaoka, by stating it was important for the city, as Kota Kinabalu is a developing city and is a tourist focus site.

“What is more important is that such programmes could be used as a platform to unite the multi-racial, multi-cultural and multi-religious people of Kota Kinabalu,” he said.

He also said that it was the aim of the City Hall to continue organising the event every year

H1 2015: Malaysia Overall Residential Property Market

24.00 22.00

Number of Transactions

18.00 16.00 14.00 12.00 10.00 8.00

60,000

6.00

Value of Transactions (RM Billion)

20.00

70,000

He added that in connection to that message, they have carried out donation drives from the people since the first day of the Gaya Christmas event.

Present at the event were Sabah Churches Council president Reverend Datuk Jerry Dusing, Deputy Sabah Churches Council president Bishop Melter Jiki Tais and Kota Kinabalu PUSPANITA chairperson Florence Malangkig.

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Number and Value of Residential Property Transactions in Malaysia, Q1 2011 - Q2 2015 80,000

In his speech, Abidin also reminded that Christmas was a time for gratitude, of giving, hope, remembrance, family and unity.

spike in the second quarter. The residential property market in Malaysia hit its peak in 2011 when the second quarter of that year saw transactions spike to 73,710 units (worth a total RM16.68 billion) from 60,333 transactions (worth RM13.52 billion) in the first quarter of that year. Similarly, in 2012, the first quarter saw total transactions of 64,402 units (worth a total RM15.13 billion) before it spiked up in the second quarter to 71,595 transactions (worth a total RM17.48 billion).

4.00 2.00

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50,000

Q1

Q2 Q3 2011

Q4

Q1

Q2 Q3 2012

Q4

Q1

Q2 Q3 2013

Q4

Q1

Q2 Q3 2014

Q4

Q1 Q2 2015

No. of Transaction

60,333 73,710 67,176 68,570 64,402 71,595 73,258 63,414 59,210 60,837 61,042 65,136 58,767 64,063 63,661 60,760 59,626 59,973

Value of Transactions

13.52

16.68

15.61

16.03

15.13

17.48

18.03

17.13

Everyone is saying that in terms of numbers, the property market is down. However, no one really knows about the actual numbers. Well, time to look at some real numbers. The chart below comes courtesy of Raine & Horne and the source is National Property Information Centre (NAPIC). The Malaysian property market actually hit its peak in Q2 of 2011. Meanwhile, the slowest period reached, was in Q1 of 2014.

Q1 2015 was down versus Q4 2014 but Q2 2105 has showed a slight increase.

There is an overall residential property market contraction in Malaysia during the first half of 2015 as compared to the same period last year, according to the number and value of transaction figures released by National Property Information Centre (NAPIC).

The first half of 2014 recorded a total of 122,830 transactions in the market worth a total RM40.31 billion; but in comparison, the first half of 2015 only recorded 119,599

16.22

17.54

18.54

19.76

19.39

20.92

21.66

20.09

18.74

0.00

19.23

transactions which is a 2.63% contraction with a value of RM37.97 billion. If we look at the quarterly comparison, the first quarter of 2015 saw a slight increase of about 1.46 % compared to the first quarter of 2014, from 58,767 transactions (worth a total RM19.39 billion) to 59,626 transactions (worth a total RM18.74 billion).

By the second quarter, there is a noticeable contraction by 4,090 units from 64,063 transactions in 2014 to 59,973 transactions in the same period this year or a contraction of about 6.38%. Over the years, it is normal for transactions to increase from the first to second quarter as seen from the increase in transactions in 2014 from 58,767 transactions to 64,063 units (worth a total RM20.92 billion) in the second quarter.

Looking at the transactions history for the previous years, the first quarter of every year will see a slight drop before the transactions

After the market hit its peak period between 2011 and 2012, it began to drop in 2013 and reached an all-time low in four years in the first quarter of 2014. The market picked up in the second and third quarters of 2014 by recording 64,063 transactions (RM20.92 billion) and 63,661 transactions (RM21.66 billion) respectively.

The market again dropped to 60,760 transactions, with a total value of RM20.09 billion in the fourth quarter of 2014 and continued to drop in the first quarter of 2015 before it increased only slightly in the second quarter of this year.

The overall residential property market in Malaysia in the last four years and the first half of this year saw the market spiking in 2011 and 2012 before it contracted in 2013 and though it increased slightly in 2014, it showed a contraction for the first half of this year.

Raine & Horne International Zaki + Partners Sdn Bhd Senior Partner Michael Geh attributed the overall contraction in the market to strict loan requirements. www.PropertyHunter.com.my

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Sydney Home Prices Drop Most in Five Years as Regulation Bites weeks and loans to investors climbed at the slowest pace in 14 months as banks raised interest rates to protect themselves from the risks of an overheated market.

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Sydney home prices fell the most in five years in November as a regulatory crackdown forces banks to tighten lending and increase mortgage rates, reported by Bloomberg.

Dwelling values in Australia’s largest city dropped 1.4% from a month earlier, data from property researcher CoreLogic Inc showed. That was the biggest drop since December 2010 and the first decline since May. Prices across the nation’s capital cities declined 1.5 percent, with Melbourne leading with a 3.5% decrease.

“The fact that mortgage rates have risen independently of the cash rate has, in all likelihood, become a contributor to the slowdown in housing market conditions,” Tim Lawless, head of research at the firm, said in an e-mailed statement. “Tighter mortgage servicing criteria across the board and affordability constraints in the Sydney and Melbourne markets are also having an impact on market demand.”

The drop in home prices is yet another indicator of the cooling Sydney property market after mortgage rates close to fivedecade lows and buying by foreigners sent prices up 44% in the past three years.

Sydney auction clearance rates, a measure of demand, have dropped for nine consecutive

Buyers are hesitating after the price rise hurt affordability, and a regulatory clampdown prompted banks to raise rates for owneroccupiers for the first time in five years.

Economists from Macquarie Group Ltd. to Bank of America Merrill Lynch forecast a decline in prices over the next two years.

Values in New South Wales state, where Sydney is the capital, are expected to climb 2.2% in 2016, a survey by National Australia Bank Ltd showed.

“Supervisory measures are helping to contain risks that may arise from the housing market,” the Reserve Bank of Australia said Tuesday as it left its benchmark cash rate at a record-low 2%. “The pace of growth in dwelling prices has moderated in Melbourne and Sydney over recent months.”

Still, Sydney home prices are up 12.8% in the past 12 months and Australia & New Zealand Banking Group Ltd said in a note Monday “strong underlying demand” is likely to contain any price declines in the major capital cities to less that 10 percent in the absence of an economic downturn. On Saturday, 106 of 111 yet-to-be-built apartments worth about A$160 million (RM492 million) in Chatswood, 10km (6.2 miles) north of Sydney’s business district, were sold in three hours, according to Domain, an online real estate website.

Customs Gained Over RM30 Billion From GST

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The Royal Malaysian Customs Department has collected over RM30 billion as Goods and Services Tax (GST) since the tax system was implemented on April 1 this year, as reported

by Free Malaysia Today.

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The central bank, which last year called the housing market unbalanced, said in October it could be starting to slow, while rapid home construction in some areas is creating an oversupply. The number of dwellings approved for construction rose 3.9% in October from the previous month, according to the Australian Bureau of Statistics, beating the median forecast of a 2.5 percent fall from a survey of economists.

The banking regulator urged lenders in December last year to limit growth in investor mortgages to 10 percent a year. This year, it raised the capital the biggest lenders must hold against home loans.

Successful auctions in Sydney fell to 56.3%, a three-year low, separate CoreLogic data showed. A third of homes in the city were sold through an auction in the 12 months to Sept 30, according to Corelogic.

The decrease in prices would give the RBA room to drop rates, Lawless said. RBA Governor Glenn Stevens said last week traders should “chill out” until February when policy makers will look at data again to decide on rates.

“While the Reserve Bank is likely to welcome a slowdown in the rate of home value appreciation, the overriding objective would be to avoid a significant downturn in the housing market, which would act as a weight on economic growth and potentially impact financial system stability,” Lawless said.

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Its Deputy Director-General (Enforcement and Compliance Division), Matrang Suhaili, said the amount was collected from over 400,000 companies registered under the GST.

course at the Royal Malaysian Customs Academy in Bukit Baru on December 13.

“The figure collected exceeded our target and we expect the amount to increase next year,” he continued.

Matrang also revealed that Customs have assigned over 1,000 officers to the GST Department.

“As for now, we have not set any target amount,” he told reporters after closing a Customs officers’

“The staff that we have now in the department are to meet current needs and to replace those who have since retired. They are placed to fill the void accordingly in branches nationwide,” he emphasized.

New Affordable Housing Policy and Guidelines Proposed

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A new affordable housing policy and guidelines has been proposed to the State Planning Authority (SPA), The Borneo Post reported. According to Housing Minister Datuk Amar Abang Johari Tun Openg, the new policy would involve major enhancement to the state’s approach to affordable housing.

“The proposal covers among others, improved changes on the design, planning requirements, and maximum selling price of the low-cost and affordable housing units,” he said in his winding-up speech during the State Legislative Assembly (DUN).

The main objectives of the new proposed policy, said Abang Johari, are to increase the supply of affordable housing through private sector participation to address the issue of housing affordability among low and middle income segments, to control house prices

for low-medium and medium-cost houses so that these categories of houses will be affordable for the target groups; to improve housing design standards towards ensuring a more liveable and conducive housing unit that could meet the needs and expectations of house buyers; and to leverage on new housing opportunities and address urban sprawl.

He also said that the key recommendations under the new housing policy proposal include houses to be built under the proposed 30 per cent quota are divided into two categories – low-medium and medium price units instead of just one category.

“This would involve the creation of affordable housing for those with a monthly gross household income of below RM5,000 but above RM3,000, and also those above RM5,000 but below RM7,000.

“This would thus help to address the housing need of the middle-income group as well apart from the low-income segment,” he emphasized.

He added that other key recommendations include the increase in the size of houses and improvement to design and specifications;

Flat Year for Property Sector Next Year - Expert

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Industry experts predicted that Malaysia’s property sector is expected to go through a “flat” year while market prices will benefit those looking to buy or rent houses. Siva Shanker, CEO of property agency PPC International, said there was no need to “panic” or worry as the property market would typically go through a cycle of a few “bad” years before recovering.

“If I were to draw a pattern, I believe 2016 will be a flat line again, it will neither go worse than it was and chances of it improving is also not there.

“And I think we will start to see a little bit of activity coming back into the market in 2017 and 2018 very slowly, hesitantly, because of the elections.

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development above 10 acres would be required to build both low-medium and medium cost houses with 50 per cent of each category, catering to different income brackets for middle-class house buyers; maximum permissible density for lowmedium price house and flats to be increased to mitigate high cost of land in urban areas and reduce overall development costs; and low-cost flat or apartment to be provided with lift service with the price of the unit to be increased accordingly.

“In terms of general outcomes of the new affordable housing policy proposal, the state government seeks to facilitate the delivery of well-designed housing that is socially, environmentally, and economically sustainable such as provide minimal yet comfortable, pleasant and safe accommodation; provide accommodation on sites with good access to public services, amenities, facilities and employment opportunities; achieve a balance between long-term cost efficiency and good design; consider any other housing and nonresidential development on the site and on adjoining sites under the mixed development project model; is attractive and fits into its neighbourhood; and a housing environment that is secure and safe,” added Abang Johari.

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“And then when the elections are done and dusted and that’s out of the way, barring unfortunate set of circumstances, I believe in 2019 we will see the market surging forward again and the psychological year of 2020 will probably be the next high,” he said at PropertyGuru’s Property Outlook Forum 2016.

with each other to rent their properties out so at least they can get a little bit of income which they can use to subsidise their mortgages,” he said, predicting that these property speculators will fight “tooth and nail” to keep their properties and avoid defaulting on their loans.

Fellow panellist and developer Datuk Seri Vincent Tiew agreed with Siva’s predictions of 2016 as a “flat” year, but went on further to say that next year would also be a good time to buy property as property value is expected to rise by 2019 and 2020.

Siva further said Malaysians who are looking to rent houses can expect cheaper prices next year, due to financially-squeezed property investors competing for extra income to repay their housing loans.

“I think next year, we are going to see rental shooting straight down as they compete

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Illustration photo Christmas carolling in Gaya Street Source NAPIC

This Spread 1.

View of North Sydney from Sydney Tower 2.

Goods & Service Tax 3.

Housing Minister Datuk Amar Abang Johari Tun Openg 4.

Kuala Lumpur, the capital of Malaysia www.PropertyHunter.com.my

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Coffee Talk

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The story of

coffee and property

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ong time ago, coffee in Malaysia meant that you’d go to a restaurant and drink it while you eat your hawker stall food.

If you want to chit-chat with friends, mamak is your best option. There’s even a song by A Niu, a local Malaysian singer on why mamak stalls are the best. Well as we all know, this is no longer the only option. Today there is bubble tea, yogurt drink and the trendy cafes serving latte craze. So what do cafes have anything to do with property, you ask? Actually, there are a lot of connections.

Cafes with a twist. In Ipoh, many older buildings, even dilapidated ones were ‘rescued’ and ‘transformed’ into cafes.

These cafes mix and match modernity with the days of yesteryear while serving you a cup of freshly brewed latte. The latte may have cost you RM7.50 per cup (300% more than your usual Old Town White coffee) but the property which the cafe now occupies may now be worth RM1 Million instead of it’s RM300,000 price when it was still an eye-sore. This has not only happened in Ipoh but also in Penang

as well, though, due to the sudden rise in prices of the old properties, I can safely conclude that the cafe scene in Ipoh will see more action compared to Penang.

Acceptance without any question, of the ‘new’ price of coffee. To the generation still stuck in the kopi-o times and prices of yesterday, none would ever accept a new condo for RM1,000 psf. Definitely not a SOHO of 350sf and a price tag of RM400,000. However, to the generation who has embraced and accepted the fact that coffee is now a lifestyle and not just a drink, they have also accepted that a small unit which is tastefully decorated and that comes with good facilities is worth the RM400,000 that is being bandied about by the developer.

Coffee beans, coffee grinder and coffee machine and the luxurious landed property. Every morning, my friend grinds his 100% Arabica beans with his European made grinder before using his Japanese made machine to brew it to perfection; at just below 90 degree Celsius. The total price for this luxury gives you an idea why he has no issue with paying

RM1.6 million for a landed property.

It is absolutely normal and acceptable because in his mind, times have changed.

With technology advancement comes jobs which pay much higher and thus the mind-set that a cup of coffee is no longer just a cup of coffee but is also an enjoyment. How do you price enjoyment?

I still love kopi-o, especially one made by the old uncles who has been doing it for many years. However, if I am going out with some friends and we would like to have a coffee chat session, it would definitely not be at a sweltering hot restaurant with an oily floor. Most probably it would be a proper coffee place with the barista greeting you while asking you to upgrade your size. The bill?

RM14.50 for Asian Dolce Latte. Is the price reasonable? I think so and I can accept the fact too, that condos with an amazing view and a prime shopping centre just within walking distance away to be worth much more today. Has coffee culture affected the price increase for properties?

You decide.

This is the story of coffee and property.

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COFFEE TALK

Hard for property prices to go down, lah!

I

read an article in The Star quoting a few experts who gave some views as to why the prices have not been trending downwards even though the total transactions have been going down since 2014. According to Jordan Lee & Jaafar’s Executive Director, Yap Kian Ann, Selangor and Kuala Lumpur have a population of 7.5 million with 1.85 million residential units. With continuous urbanisation and migration from other states, these will continue to push up demand.

According to Yap, the property market is not like a stock market. Any selling or buying takes time. He then mentioned something very fundamental, “A roof over one’s head is considered a necessity”.

Yap further elaborated that there are 30 other broad factors affecting prices and fundamentally, it’s based on demand and supply. The most important reason however, is location. The nearer to the city meant better accessibility and thus better prices. The next most important factor is interest rates. He said during the financial crisis, many central banks reacted by trying to prop up their economies and this is done by releasing more cash into the system. Low cost of financing meant better demand for property investment. Low interest rates also discouraged savings too. Due to these factors, there were some speculations which had to be cooled down. For example, in Singapore there were 8 cooling measures over a period of six years. In Malaysia, despite the many cooling measures, we can see that the prices have not really moved much, downwards.

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Let me explain very briefly why it will be tough for prices to suddenly drop. There are many owners of properties who would hate to reduce their selling prices. These owners are mostly working professionals and as of now, we could see the unemployment rate remain low. In fact, the sales of luxury cars are on the way up even if the sales of ‘bread and butter’ cars are on a downtrend.

The banks would also not like a sudden drop in property prices. The developers, despite trying to balance between the market requests and profitability would also not want the prices to drop suddenly. Yes, buyers want the prices to drop. YET, all of them continue to only want to buy in certain areas. The equation would always be demand and supply. Sorry, it will never be average demand and average supply. It will always be location specific because this is where many buyers want and supply is being limited.

I think Yap’s points are very valid. Perhaps he should also advise buyers to be much more rational and spread out the buying activities over more areas instead of only the few selected areas. Just look at the prices of today, especially of the secondary market. Areas which are only 10km away from one another can be priced 2.5 times higher or more. Of course, I still believe that the price dynamics would change when the transportation modes change too. Happy selecting and buying, regardless of the area that you really want or need.

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85

APARTMENT FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

86

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APARTMENT FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

87

APARTMENT FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

88

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BUNGALOW / VILLA FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

BUNGALOW / VILLA FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

90

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SEMI-DETACHED HOUSE FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

91

COMMERCIAL FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

92

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CONDOMINIUM FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

CONDOMINIUM FOR SALE

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

94

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APARTMENT FOR RENT

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

APARTMENT FOR RENT

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

96

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OFFICE SPACE FOR RENT

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

RETAIL SPACE FOR RENT

Extracted from PropertyHunter.com.my

Abbreviation LA: Land Area BUA: Build Up Area *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

98

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99

100

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