Property Hunter Magazine

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FEATURED INTERVIEW

LEGACY OF A LEADER

Datuk Kong Kwok Wah

HOT TOPIC

Strata Management Tribunal ISSUE

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Buying Property Through Auctions How To Find An Amazing Deal Stay Safe, Buy Within Affordability And Stop Bubble Building

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CONTENTS

ISSUE 72

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Cover Story Malaysia Budget 2016

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Featured Interview Datuk Kong Kwok Wah

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East Malaysia Property News

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Hot Topic Strata Management Tribunal

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Featured Property Event Sarawak’s Property Transactions Consistent at RM 6 Billion Yearly.

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Featured Property Event MonT’Kiara Shines With Residensi Sefina & Residensi22

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West Malaysia Property News

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Featured Property Event Real Estate Agents and Negotiators Celebrate Excellence

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Featured Property Event WC SC 2015 Urban Regeneration Through Smart Partnerships

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Featured Property Event Perth’s New Affinity Apartments debut in Kuala Lumpur

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International Property News

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Hot Topic Buying Property Through Auctions: A good way to own your dream home?

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Banking And Investment News

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Coffee Talk • How To Find An Amazing Deal • Stay Safe, Buy Within Affordability And Stop Bubble Building

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Sabah Property Listing

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COVER STORY

PROVIDING AFFORDABLE HOMES FOR MALAYSIANS Home Ownership The Government has allocated RM1.6 billion under the new planned budget.175,000 new houses will be built under the 1Malaysia People’s Housing Project (PR1MA) and sold at 20 per cent below the market price. A total of 10,000 units are expected to be completed by next year.

An allocation on RM200 million will be to build 10,000 units of Rumah Mesra Rakyat under Syarikat Perumahan Negara Berhad (SPNB) with a subsidy of RM20,000 for each house.

Perumahan Penjawat Awam 1 Malaysia (PPA1M) to build 100,000 houses by 2018. They will be priced between RM90,000 and RM300,000.

A facilitation Fund of up to 25 per cent of cost is provided.

The People’s Housing Project (PPR) by the Urban Wellbeing, Housing and Local Government Ministry (KPKT) will build 22,300 apartment units and 9,800 terrace houses, with an allocation of RM863 million.

To ease the burden of paying deposits for firsttime house buyers, RM200 million will be allocated under the First Housing Deposit Financing Scheme.

Orang Asli Community and Rural Sector Plans for construction of houses for the orang asli community, RM60 million will be allocated to the Orang Asli Development Department.

20,000 units by the Federal Land Development Authority (FELDA), 2,000 units by Federal Land Consolidation and Rehabilitation Authority (FELCRA) and 2,000 units by Rubber Industry Smallholders Development Authority (RISDA).

The maximum price is reduced to RM70,000 from RM90,000 previously for houses built by FELDA.

Abandoned Housing Projects, Dilapidated Houses and Public Housing KPKT will be provided with RM40 million to revive abandoned low and medium-cost private housing projects. Moreover, exemption on stamp duty is given to contractors who revive projects as well as the original purchaser of the abandoned house.

Meanwhile, RM150 million will be allocated to the Ministry of Rural and Regional Development (KKLW) to build and repair 11,000 dilapidated houses in rural areas.

RM155 million will also be allocated for maintenance of low-cost public housing and 1Malaysia Maintenance Fund by KPKT.

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COVER STORY

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FEATURED INTERVIEW

Photo by: Louis Pang Studio

Legacy Of A Leader How benevolence and taking risks can lead to bigger things

Datuk Kong Kwok Wah is one unassuming trailblazer. Despite his position and success, he exudes an affable and infectious personality that attracts attention in a pleasant way. It’s quite unique and refreshing for someone in this business to be so successful, yet so down to earth. Previously, he served as President of SHAREDA for two tenures of four years between 2005-2009, and was also the force behind Wah Mie Group’s pioneering of the residential and commercial developments in Sepanggar, KK. (Continued on page 16)

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FEATURED INTERVIEW

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eturning from a short two-year ‘retirement’, he’s already busy with new development projects and is overseeing three companies: Chairman of Rich Worldwide, Director of Tower Paradise and Director of Borneo Estate Development.

Datuk Kong gives Property Hunter a warm welcome to his new office at the Riverson building. We discuss his early days in the business, the recent devastating earthquake, and his latest project, Maya. With everything that’s going on for him at the moment, it’s impossible to imagine Datuk going back to retirement again pretty soon.

How it all started Datuk Kong’s humble beginnings started back in the 70s where he started work with the Sabah government under the forestry sector. He formed the Forest Co-Operative, a convenience store that provided low priced groceries to its members on a credit basis. Through interactions with the

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members, he realized that they had wanted to own their own homes, but their meager salaries had made it impossible to do so. As a result, Datuk Kong made it his personal mission to help them realize their dreams. The plights and challenges of the project would then inspire him to get out of his comfort zone and fulfill his ambitions while doing something meaningful for society. This transpired with him quitting his job with the government at 40 and dive right into the property business in 1977.

In 1979, echoing his first experience with the cooperative, he started his first private development company in Sandakan. His main objective was to provide affordable housing for low-income earners through soft payment schemes to lighten the burden of paying hefty downpayments with a 36 months installment scheme. The desire to accommodate people’s needs has resonated throughout his career and has become the grassroots of his mission and corporate vision.

No challenge too big One of the biggest and most challenging projects he has undertaken was the University Malaysia

Sabah project. No other developer was up to the challenging task to build student housing within 12-15 months . With some serious thought with his board members, they decided to stepup to the plate. With good coordination among stakeholders and with dedicated contractors that worked 24/7, 296 units of double storey houses were completed just in time for the 1st school intake.

Retired & Returned Datuk Kong explained that upon retiring from the company that he spearheaded - Wah Mie Realty Sdn Bhd - he wasn’t exactly sitting idle. He teamed-up with an old friend, Datuk Victor Wong Chet Sing to work on smaller scale projects. In the course of his supposed 2 1/2 years of retirement, they had completed 60 unit shop houses and 115 units of double storey terrace houses.

Feeling revived by all the side projects he was doing, he came across a piece of land at Likas and decided to return from retirement. This is where his latest and first major project called Maya started since coming out of retirement. “When

I came across this parcel of land, I seized the opportunity of forming another company, inviting my good friend, Mr. Ng Chin Heng, Chairman & CEO of Coastal Group, and Mr. Chin Ah Kow to join us,” said Datuk Kong.

His miracle project

loss of precious life and damages to infrastructure and buildings. He has taken precautionary measures by addressing the issue while Maya was still under construction. He has immediately instructed his engineers to strengthen the structure. “We are prepared to spend an extra few million just to ensure that our buyers have their peace of mind,’ he said.

The development of the three blocks of Alam Damai Condominium had created an unexpected miracle in the property scene in KK. When the development first started, it was marketed at RM260-280 per square feet. The price of the unit had increased to more that RM600 per square feet in only 3-5 years after its completion. This appreciation rate has never happened before and he believes that it is unlikely that any present or future development may achieve this feat ever again.

All buildings at KK have been subjected to live vibration load tests from recent Ranau earthquake of Modified Mercalli Scale of II to IV and no failure or major cracks are reported in KK. However, he is one of the first developers to address the issue by immediately modifying and redesigning their buildings for earthquake resistance that’s up to the Modified Mercalli Scale IV standard as recommended by the Singapore code.

On the devastating earthquake

His latest venture, Maya @ Likas

Datuk Kong stressed that the recent earthquake was a most unfortunate incident, resulting in the

Maya is in the same locality of Alam Damai, but has better features on lifestyle and modern

contemporary living, and the strategic location he believes, will be popular among perspective buyers.

The launching of Maya to some extent, will buck the trend of rising prices for condominiums in the city. The prices are so competitive and yet inclusive of some extra finishes such as kitchen cabinets, laminated timber flooring and two air conditioners, plus two parking lots for bigger units.

“Apart from getting reasonable returns, the partners want to have something they can be proud of and to create a beautiful, functional and innovative condominium in KK for the benefit of the end users,” said Datuk Kong.

“The creation of Maya is to serve the common interests of a few good friends who intend to leave a legacy which they can fondly talk about and remember for a long time.”

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EAST MALAYSIA PROPERTY NEWS

EAST MALAYSIA PROPERTY NEWS

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

Is Non-Issuance Of Strata Titles Normal In Sabah?

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t seems like the non-issuance of strata titles, especially to apartment buyers, is not something new to Sabah.

In 2003, the Local Government and Housing Ministry stated that Sabah will amend its Land (Subsidiary Title) Enactment 1972 to further strengthen regulations pertaining to strata titles as part of an effort to address this long standing issue.

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Then, earlier this year, they said a special panel had been set up about two years ago to look into issues related to housing development, including the non-issuance of strata titles.

Today, however, the problem seems far from over with home buyers after home buyers coming forward to ask for their long delayed titles, with the recent revelation from the residents of Kepayan Apartment

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who claimed that they have not receive any yet.

Just in May, after a wide media coverage, the Land and Survey Department promised that the issue of delayed strata titles for owners of Kepayan Ridge will be issued in three months. This was after the owners had waited 30 years to get the documents.

KEPAYAN APARTMENT Owners of Kepayan Apartment, represented by Mr. Hamdin Kadir who acts as the spokesperson for the committee said they were hoping the local elected representatives for their area as well as Local Government and Housing Minister Datuk Haji Hajiji Noor would come to their aid, as reported by The Borneo Post.

He said that none of the 96-unit two-block apartment have received

their titles, adding they were also unclear if the master title for the whole property was still with the original developer or had been transferred to a third party.

The missing strata titles made it difficult for owners when it comes to reselling the unit.

“For any transaction involving property, we need the approval from the master title holder, which should be the developer, but they have washed their hands off from the project,” he said.

It appears that the developer, a major china based company, is no longer in Malaysia according to Hamdin. He also said that the developer’s office in China said “as far as they concern, their project has been completed and they have nothing to do with the apartment anymore.”

AirAsia To Move To KKIA T1 By Year End Hotel Jen Comes To Borneo

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he Ministry of Transport (MoT) Minister Datuk Seri Liow Tiong Lai made a statement on 20 September that they are looking forward into the arrangements to transfer the operation of low-cost carrier AirAsia Berhad from Kota Kinabalu International Airport (KKIA) Terminal 2 to Terminal 1, as reported by The Borneo Post.

“We understand AirAsia’s constraints, but we will assist AirAsia in other ways so that they can be shifted to T1 as soon as possible,” he said.

Liow also said that the MoT was engaging with AirAsia currently and assured that the move would be realized by year end.

As for AirAsia’s response on the move, he said the airline had

come up with proposals which the ministry was looking into, which included incentives Previously, PM Datuk Seri Najib said that AirAsia has exceeded the dateline to move out and relocate to Terminal 1 immediately.

Najib also said that the plan was to convert the older T1 into a dedicated terminal for cargo and air services.

Meanwhile, the ministry was also in discussion with Air China to establish direct flights to Kuala Lumpur International Airport (KLIA), according to Liow.

He also said that the requests for direct flights from Guangzhou and Beijing to KKIA have been made to Air China for the benefits of Sabahans.

Pan Borneo Highway To Launch Next Year government’s high commitment towards infrastructural and economic development in Sabah.

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he first phase of Pan Borneo Highway in Sabah will be launched in the first quarter next year, according to Prime Minister Datuk Seri Najib Razak.

The Pan Borneo Highway, which connects to both Sabah and Sarawak was part of the Barisan National (BN) manifesto during the general election campaign back in 2013.

He said the construction of the 2,239 kilometres long highway was also an effort to fulfill the federal

“We are excited to work with the Shangri-La group to bring Hotel Jen to Kota Kinabalu,” said Mr. Jonathan Wheeler, Managing Director of Pacific Sanctuary Holdings Sdn Bhd.

“Just last week the Economic Council approved the new order structure of the Pan Borneo Highway in Sabah,” he said when addressing the National Integration Seminar jointly organized by the Department of National Unity and Integration and Asian Strategy & Leadership Institute (ASLI) yesterday.

The project, according to Najib, would boost ties between Sabah and Sarawak and certain provinces in neighbouring Brunei Darulsallam and Indonesia.

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t was a momentous occasion at Shangri-La’s Tanjung Aru Resort & Spa as a signing ceremony was held today between ShangriLa Hotel Group and PacifiCity.

Shangri-La International Hotel Management Ltd has joined forces with Pacific Sanctuary Holdings Sdn Bhd to bring in the first Hotel Jen in Borneo. Hotel Jen Kota Kinabalu, will be standing atop PacifiCity, an integrated shopping, entertainment and lifestyle hub, located along the coastal highway of the city.

Mr. Greg Dogan, President and CEO of Shangri-La Hotels and Resorts said, “The announcement of Hotel Jen Kota Knabalu is extremely important for our organisation.

We’ve built a strong presence in Kota Kinbalu and throughout Malaysia, and are delighted that the newest brand in our portfolio reinforces our commitment to Sabah, Borneo and beyond.”

PacifiCity is a premier shopping, entertainment and lifestyle hub located in picturesque Likas Bay, an area described as the new city centre of Kota Kinabalu. Guests of Hotel Jen will have access to world-class shopping, dining and entertainment.

“Hotel Jen Kota Knabalu will be the jewel in the crown PacifiCity, cementing the development as a premium integrated hub, benefiting all stakeholders, tenants, and investors,” Wheeler added.

The Hotel Jen brand is the brainchild of virtual persona Jen, a professional hotelier and all-time lover of life, travel and discovery.

Jen cares about what really matters to guests – the important things done well, giving guests the experience of simple pleasures, easy efficiency and a sense of adventure.

Lothar Nessman, Chief Operations Officer of the Hotel Jen brand said, “We are excited to expand Hotel Jen’s footprint in Asia Pacific and Hotel Jen Kota Kinabalu will join ten hotels in key locations in the region, including the third in Malaysia.

Present at the event were special guests, Tan Sri Datuk Panglima Joseph Pairin Kitingan, Deputy Chief Minister and Minister of Infrastructure Development of Sabah; Y. Bhg. Datuk Abidin Madingkir, Mayor Bandaraya of Kota Kinabalu; Datuk Irene Benggon Charuruks, General Manager of Sabah Tourism, senior members from both companies and members of the media.

Hotel Jen Kota Kinabalu will comprise of twin iconic towers, remarkably standing against stunning views of the South China Sea, coastal wetlands and the majestic Mount Kinabalu. The Hotel will also boast resort-standard recreation and facilities that are shared with the PacifiCity Club.

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HOT TOPIC

Strata Management Tribunal By: Chris Tan

The strata development in Sabah and Sarawak may not be common with the vast land areas of both States. The common perception of the vicinity of cities such as Kuala Lumpur, Selangor and Penang is that living in a landed property is a luxury whereas acquiring a landed home nest in Sabah and Sarawak is quite common. Strata living has also become the latest trend for the current generation where facilities such as security, gym and swimming pool are determining factors for many property buyers. As such, there is also a need for the legislative to keep up with the current trends of Strata living of which the Strata Management Act 2013 (SMA) has been implemented on 1 June 2015. Nonetheless, similar to the Housing Development (Control & Licensing) Act 1966 (HDA), the SMA 2013 is only applicable for Peninsular Malaysia.

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ecognizing the need of protection for the various stakeholders in the strata development, the SMA 2013 also established the Strata Management Tribunal (“SMT”) to resolve disputes relating to the management of strata properties, akin to the Tribunal for Homebuyer Claims set up under the HDA 1966. The parties that may file a claim to the SMT are strata property owners, developers, the Joint Management Body, the Management Corporation and the managing agents.

SMT’s Jurisdiction

The monetary limit of the claim amount at the SMT is RM250,000.00. In other words, the strata stakeholders may file their claims as long as its within the monetary limit. One may notice that the monetary jurisdiction of SMT is higher as compared to the 2 tribunals abovementioned; the rationale is that the penalty imposed to any non-compliance of the SMA 2013 is also RM250,000.00.

The subject matter jurisdiction of the SMT is summarized as below:1. Dispute on failure to perform a function, duty or power imposed by SMA 2013; 2. Dispute on costs or repairs of a defect; 3. Claim for the recovery of charges,

contribution to the sinking fund or any debt; Claim for an order to convene in a general meeting, invalidate proceedings of a meeting or nullify a resolution on matters decided in the general meeting; Claim to compel for supplying information or documents; Claim for an order to give consent to effect alterations to common property or limited common property; Claim for an order to affirm, vary or revoke the authority’s decision.

However, it shall be noted that the SMT shall not have jurisdiction over disputes relating to the title, estate or interest of a land.

No lawyer during hearings

The general rule is that neither parties are allowed to appoint a lawyer to represent them at a hearing. Nonetheless, the law also allows an exception - where the matter in question involves complex issues of law and one party will suffer severe financial hardship if he is not legally represented.

Rules and procedures

The SMT may conduct the proceedings in such a manner in which it considers appropriate, necessary or expedient for the purpose of ascertaining the facts or law and determination of a claim. A summary of the powers of the SMT in conducting proceedings include:1. to determine manner to conduct the proceedings; 2. to determine the manner of discovery and providing of the evidence; 3. to draw on its own knowledge and expertise; 4. to order the giving of security for costs; 5. to make an on-site inspection; and 6. to summon the other parties or person to attend the proceedings.

Awards and Penalty

to reach its award shall also be given in all proceedings.

An award by the SMT is as good as a Court Order, thus whoever fails to comply has therefore committed an offence.

Upon conviction, that person will be liable to a fine not exceeding RM250,000.00 or imprisonment for a term not exceeding 3 years or both. In the case of a continuing offence, meaning the failure to comply continues to linger for days, a further fine not exceeding RM5,000.00 will be imposed for every day or part thereof during which the offence continues after conviction.

A Tribunal may make the order and the party will need to be bound by the order made. The Strata Management Tribunal may order a party of the proceeding to:1. pay or refund a sum of money or compensation or damages to another party; 2. varies or set aside a contract or additional by-laws; 3. pay interest on monetary award at a rate not exceeding 8% per annum; 4. dismiss a claim which it considers to be frivolous or vexatious; 5. any other order as it deems just and expedient; and 6. ancillary or consequential orders or relief as may be necessary to give effect to any other order made by the Tribunal.

Conclusion

As the SMA 2013 has just been implemented for 3 months and the SMT being newly established, the effectiveness of the SMT is still being tested. Nonetheless, the establishment of the SMT undoubtedly reduces the Court’s attendance in matters related to strata management. On the other hand, the popularity and the current trend to buy into a strata development also signifies the higher chances of strata management disputes, thus the establishment of the SMT is right on time to deal with these disputes that may arise and serve as a platform for a consistent strata dispute resolution.

After the hearings, the SMT shall make its award within 60 days from the first date of the hearing’s commencement. Reasons

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EAST MALAYSIA PROPERTY NEWS

Housing Price Required To Reduce Another 10% - SHAREDA Warns The Government Not To Intervene With The Market Price Datuk Seri Panglima Haji Hajiji Haji Mohd Noor is fully aware of the new ruling,” he continued.

He also said that they are unsure whether such ruling has been endorsed or adopted by the State Attorney-General / State Government.

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abah Housing and Real Estate Developers Association (SHAREDA) today expressed their disappointment upon the instruction to housing developers issued by the Housing Controller (HC) through the Deputy Permanent Secretary of Ministry of Local Government and Housing (MLGH) to reduce their selling price of their projects to 10% or more from their initial intended selling price.

The instruction was received by the housing developers while applying for their housing developer’s license and advertisement permit.

SHAREDA opined that such drastic decisions made by the HC is without fair justifications on any doubts cast on the housing price submitted. As most developers fully understand that the HC in the past decade had capped a maximum point margin of not more than 30% on all housing developments.

“SHAREDA members in the past had to comply to the ruling on the said profit margins with open hands.

However, such drastic decisions imposed by HC for a reduction of more than 10% has actually pushed all developers into dead corners and touches our bottom line,” said Datuk Francis Goh, President of SHAREDA.

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According to Datuk Francis, the current imposition on the said profit margin is still considered to be reasonably fair, therefore there is no need to reduce another 10% or more from the current 30% - of which SHAREDA feels would daunt the housing developers to continue their developments due to the high market risks faced by them, especially the small scale developers or the beginners in Sabah.

“HC should understand that the imposition of such ruling to cap the profit margin is inappropriate in the eyes of the law and also untimely, knowing that developers are currently facing risks in higher price for building materials due to the weakening of our currency,” he added.

Datuk Francis also pointed out that the HC of Sabah is the first to cap the profit margin on housing prices submitted by the developers which never happened in other states in the country.

“We (SHAREDA) are unsure whether the respective minister of MLGH YB

Taking on the examples of the decision by the Governor of Central Bank Tan Sri Dato Zeti Akhtar Aziz who insisted that the Ringgit should not be pegged and to be floated by open market so it would not be tied to the US dollar, Datuk Francis said that the judgement on imposing the requirement of such discount on housing by the authorities concerned should not be capped as a controlled item since it will cause a distortion to the open market force.

Secretary General of SHAREDA Datuk Sir Chua Soon Ping, who is also present during the press conference suggested that the government should not interfere with the private sector, especially when it comes to property, and let the market determine its own the price.

Other SHAREDA members who were also present at the press conference are Mr. Ronnie Ang Guo, Ms. Chew Fei Sean (Assistant Secretary), Mr. Chew Sang Hai (Deputy President), Dato John Chee (Vice President), Mr. Chai Meng Kong (Treasurer-General) and Mr. Johnny Wong.

“The more government intervention on the market price, the worser repercussions reflected in the economy,” he emphasized.

According to SHAREDA, the normal project duration would take about 5 years to complete and the annualized profit is around 6% per annum, which is considered low in the context of high risk industries which involve covering building and labour price fluctuations, paying liquidated and defects damages if occupational certificates (OC) is delayed, fulfillment of changes in government policies and fuel escalation.

“All of the mentioned risks involved with the selling price are not subject to changes for the next three years from the day the developer’s license is obtained.”

“We do not know why the HC made such drastic decisions. We would like to know who is the culprit behind it,” said Francis.

Previous Page 1. Entrance to Kepayan Apartment 2. Proposed route for Pan Borneo Highway 3. The signing ceremony between Shangri-La Group and Pacific Sancturary Holdings Sdn. Bhd This Page 1. SHAREDA council members during the press conference.

GDV Of Property Launches Plunge – Francis Goh

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he gross development value (GDV) of property launches plummet from RM7.65 billion in 2013 to RM210 million this year, according to President of Sabah Housing and Real Estate Developers Association (SHAREDA) Datuk Francis Goh as reported by The Borneo Post.

Francis said that SHAREDA had made an appointment with Chief Minister Datuk Seri Panglima Musa Haji Aman to raise this longstanding issue. He also elaborated that the GDV of property launches had dropped from RM7.65 billion in 2013 to RM3.75 billion last year

and further fell to RM120 million this year. Delay in the approval of development plans is one of the reasons, he added.

developers would reluctant to launch new projects even if their development plans were finally granted approval.

“Favourable climate, geographical advantage and human factor are all important factors in property development. We need to launch new projects at the best timing in order to attract buyers, but we often miss the golden timing due to delays in development plan approval.”

SHAREDA had repeatedly voiced the delay in obtaining approval for development plans to Kota Kinabalu City Hall (DBKK) for the past three years, said Francis who is also the deputy chairman of MCA Sabah.

Francis also said that since now the market has slowed down, the

Developers often had to wait between 24 to 30 months for the approval of development plans, and subsequently another three months for the approval of building

plan and submission to the Housing Controller, which means the whole process to obtain approval for each development project usually took between two or three years, he emphasized.

“When we made complaints to the relevants authority, they even doubted our complaints. Therefore, SHAREDA had distributed survey forms to its 185 members under the jurisdictions of DBKK and Penampang District Council for feedback on the time it took for the authorities to approve their development plans,” he added.

Corpse Water Suit - Victory To Residents

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esidents of Taman Sri Titingan PPR flats in Tawau who went to court after drinking “corpsewater” from a reserve tank at the premises three years ago won their case, last 30th September in Kota Kinabalu.

Sabah Valuer and Property Consultants (JPHS) – the second defendant, was ordered by High Court Judicial Commissioner Azhahari Kamal Ramli to pay damages of RM3,000 to each of the plaintiffs.

JPHS was also ordered to pay 5% interest from the date of the decision and the legal costs of RM50, 000.

The damages may be paid to the plaintiffs (residents) minus residents who withdrew (59), died (17) and tenants not in the list (47).

Tawau Municipal Council (TMC) who is the first defendant, was not required to pay any costs as the matter comes under the maintenance agreement of Taman Sri Titingan PPR. On 20 September 2012, the residents had filed a RM100 million suit through counsel Chong Kian Ming and named TMC and the JPHS as the first and second defendants respectively for allowing

a rotting body of a suspected illegal immigrant to pollute a reserve water tank of the housing flats.

Until today, it was not clear how the victim ended up getting drowned in the water tank.

TMC was represented by Senior State Counsel Dayangku Fazidah Hatun Pg Bagul while Counsel Liew Hon Ming was representing JPHS. The plaintiffs led by Amiruddin Rasake had also sought the defendants to change all the pipes connected to the affected water tank and replace all the old tanks and to

equip these with safety control.

Action committee chairman of Taman Sri Titingan PPR flat Tahir Datu expressed appreciation and gratitude to Chong for representing them in the suit. According to Tahir, the victory was due to the failure of the defendants in ensuring water supply to residents is safe for consumption.

The suit was said to be the first of its kind in the world brought to court and won. A similar case of drinking “corpse water” from a tank is pending before the courts in Las Vegas, United States.

Life Must Go On – Pairin

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e need to move on so we can achieve a better future, said Deputy Chief Minister Tan Sri Pairin Kitingan when met after witnessing the signing ceremony of the development between President and CEO of Shang Ri-La Hotels and Resorts Greg Dogan and Executive Director of Pacific Sanctuary Holdings Sdn. Bhd KP Kuok which took place in Kinabalu Room, Shang Ri La’s Tanjung Aru Resort & Spa last 22 September.

He made the statement after been asked if it is a suitable time to announce a new hotel development when Sabah has been battered with many incidents which led to the decreasing amount of visitors.

“I believe that we all understand how to plan for the future.

Whatever incidents that happened to Malaysia, Sabah or even the whole world, just like the recent case for Syria, it will eventually be

settled in the future. We take that as an example for us,” he emphasized.

“This is what Shang Ri-La Group and Pacific Sanctuary Holding are doing by bringing Hotel Jen to Kota Kinabalu”, he further explained, adding that it will contribute to Sabah’s tourism industry.

“The 440-room hotel will also provide job opportunities for our people especially the younger

generation. I also would like to see more hotel developments in the rural areas so it will balance out the development between urban and rural in Sabah as well as to improve the socio economy of folks there,” he added.

Hotel Jen will open in 2018, and will be part of the PacifiCity mix development that is located in Likas Bay. It is now currently under construction.

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FEATURED PROPERTY EVENT

Sarawak’s Property Transactions Consistent at RM 6 Billion Yearly

Young People Encouraged To Join The Industry

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ostalgic and appreciative “Another Night to Remember” was the theme for Malaysian Institute of Estate Agents (MIEA) Sarawak Branch for their second annual dinner which was held last night (16 October) at Imperial Hotel, Kuching, Sarawak.

According to MIEA Sarawak Chairman Alex Ting Kuang Kuo, although the real estate industry in Sarawak has existed for several decades, it was only the last 5 years the industry becomes more organized and structured, which credit goes to the MIEA team members and also the Board of Valuers, Appraisers and Estate Agents Malaysia (BOVAEA).

The night’s guest of honor, President of MIEA Erick YT Khoo congratulates the team during the night for their undivided attention and efforts towards the group, while at the same time giving recognition to Sarawak for winning two awards at the last MIEA National Real Estate Awards held in Kuala Lumpur on October 3rd – Top Real Estate Firm which won by Kozin Real Estate Sdn Bhd and Top State REN awarded to Mr. Colin Wong Yek Fong of H Simon Real Estate.

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According to Erick, the recognition benchmarks the gold standards of MIEA fraternity and he encourage more Sarawak firms to participate in the next year’s national award event.

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Erick also emphasized that there are still a shortage of REAs and RENs in Sarawak and Sabah, and he is hoping that more young people of Generation Y will be encouraged to join the profession.

“Please note that the Sarawak State annual turnover for property transactions has been quite consistent at RM6.0 billion, out of which 40% are normally transacted through real estate agents” he added.

“Education and training play an important part of this profession. You are encouraged to join our diploma courses, real estate professional seminars and other initiatives both in the state and national level. Most importantly, sign up as a member of MIEA to enjoy many other benefits” he concluded.

The event was attended by around 250 attendees, and served by delightful singing and dancing performances

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MIEA Sarawak committee member together with MIEA President Mr Erick YT Khoo (6th from night) MIEA Sarawak Chairman Mr Alex Ting Kuong Kho together with the past chairman Mr Wong Ho Ming Memorable moment.

Chairman Alex Ting presenting appreciation gift to MIEA President Mr. Erick YT Khoo

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FEATURED PROPERTY EVENT

MonT’Kiara

Shines With Residensi Sefina & Residensi22

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he land was once filled with rubber trees and just like rubber, it glues together to form a new form of material. That is the case for Mont’Kiara, which started from the humble beginning, from the land of rubber estates, to a premium address of the country with its high end condominiums served as home to many affluent locals and expatriates. Mont’Kiara again carved another landmark in the region with its new nests – Residensi Sefina and Residensi22.

Developed by the multiple award winning UEM Sunrise Berhad, the new properties of Mont’Kiara were showcased on the 2 day event earlier this month (3-4 October) at Magellan SuteraHabour in Kota Kinabalu, attracting hundreds of visitors with curiosity and excitement.

The newly launched Residensi Sefina which nestled along Jalan Kiara 3 of Mont’Kiara offering the refreshing cruise ship / living concept that promises unparalleled lifestyle and

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leisure facilities, featuring an off-shore playground on the “Sandy Island” that promises some little adventure with its spice garden, beach campfire site, therapeutic path, cabana and a wellness garden. This exciting architecture is expected to be completed in June 2019.

Residensi22, the twin tower condominium of Mont’Kiara offering the spacious and privacy area to the future residents. Targeted for completion in October 2017, residents of these new developments will enjoy every little aspects of modern and healthy lifestyle – which includes a lap pool, equipped gymnasium, a tennis court, a half basketball court, multipurpose hall, gardens and relaxation spaces. The night butterflies could also be entertained on level 36-38 with the Sky Deck and Sky Lounge which is enhanced with breath taking views, suitable for parties and dinner functions.

Apart from showcasing the new properties, Enoch Khoo – a property negotiator who is renowned for his newly launched guide book for real estate negotiators and agents made a special appearance during the event. Enoch, with his invaluable insights, shared his experiences and advices to the visitors while at the same time rewarding the first 60 attendees with his well-written book stamped with his signature.

UEM Sunrise would like to thank all the buyers of Residensi Sefina & Residensi22 for the support. UEM Sunrise will strive to continuously provide its customers with the best in service.

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Mr Enoch Khoo made apperances during the event to deliver his tips and advices to the visitors Residensi Sefina (Artist’s Impression) Artist Impression of Residensi22 The event attracted over 100 visitors who showed interest for future investment.

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WEST MALAYSIA PROPERTY NEWS

WEST MALAYSIA PROPERTY NEWS

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

26 Parcels Aquired For RM15 Billion Development By Eco World wholly-owned subsidiary Paragon Pinnacle Sdn Bhd has signed five separate conditional sale and purchase agreements (SPAs) with four vendors for the proposed acquisition.

It expects the proposed acquisitions to be completed by the second quarter of 2016.

Location of the land in Selangor

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co World Development Group Bhd is acquiring 26 pieces of leasehold land in Kuala Selangor, with a collective land size of 2,198.40 acres (0.81ha) for

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RM1.181 billion, cash, as reported

by The Edge Market.

In a filing with Bursa Malaysia yesterday, Eco World said its

The indicative market value of the lands, as appraised by Henry Butcher Malaysia Sdn Bhd via its valuation letter on Sept 21, was RM1.1896 billion, hence the purchase price represents a discount of approximately 0.7% of the market value of the lands, said Eco World.

Eco World said it intends to develop the lands into a selfcontained township with a potential gross development value of approximately RM15 billion, based on preliminary management estimates.

According to the property developer, the proposed development is expected to be developed over a 15-year period. “Paragon Pinnacle is currently in the initial stages of development planning and as such, is unable to ascertain the expected costs required for the development to be undertaken on the lands,� it added.

IJM Land Media Sharing Session Reveals Upcoming Key Development In Bandar Rimbayu Township

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IJM LAND has entered into a partnership with Northstar Associates Sdn Bhd to develop an international school campus, Oasis International School KL

ore than 100 guests attended the media sharing session with the theme “Yesterday Once More” organised by IJM LAND at the city’s oldest Italian restaurant, Ciao Ristorante at Jalan Kampung Pandan, Kuala Lumpur. The event celebrates how quickly IJM Land is gaining momentum as a leading developer in Klang Valley.

Bandar Rimbayu Township is well connected through five major highways – KESAS, LKSA, SKVE, ELITE and WCE – as a result of its centrally located address that boasts both accessibility and seclusion from the hustle-andbustle of the city.

Previously, the meticulously planned blueprint of The ARC formed the centerpiece of Bandar Rimbayu Township. The eco-friendly building is now a reality and is fully utilised as a space and town hall for fun, community bonding activities that caters to all residents. Bandar Rimbayu Township has developed nearly 15% out of allotted 1,879 acres land. New value-added entries will soon join the family of Bandar Rimbayu Township as IJM LAND proudly welcomes Oasis International School, Rimbayu Club Village, along with new commercial and retail parcels, as well as residential double-storey terrace houses.

In active support of innovation in the industry, IJM LAND also launched its first ever IJM LAND Designer Award (iLDA) 2016 at its Bandar Rimbayu township, with the aim of providing graduated designers the opportunity to turn their designs into reality. The aim of iLDA 2016 is to encourage new ideas and techniques in the design and furnishing of interior spaces for multi-family living, taking into consideration efficient layouts, privacy and spaces for leisurely pursuits.

Participants are given the liberty to interpret the theme of “Reliving Nostalgic Memories” and to visualize what it means to them.

Traditional toys such as the “congkak”, “wau” or “gasing” or even kampong style mengkuang leaves or “batik” or “songket” may be used.

It’s about letting the imagination run free and unrestrained like a child living and playing decades ago.

It’s an expression of liberation that’s essential when a home is more than just a place to rest your head.

Sponsors of this year’s iLDA include Signature Kitchen Sdn Bhd, Urban Culture Sdn Bhd by Fella Holding Berhad, Philips Malaysia Sdn Bhd, Jotun Paints (M) Sdn Bhd and Inovar Resources Sdn Bhd. The winners will be announced in the 2nd quarter of 2016 at the iLDA 2016 Award Night.

During the event, Mr. Edward Chong also announced IJM LAND has entered into a partnership with Northstar Associates Sdn Bhd to develop an international school campus in the 1,879-acre green township. The Oasis International School will mark another milestone in its continuous expansion of the township development, bringing high quality education closer to many children of Bandar Rimbayu and the surrounding areas.

Oasis International School, KL at Bandar Rimbayu Township is set to be opened in Q4 of 2017. “We will offer an innovative academic model which offers a wide variety of curricular and co-curricular programs taught by world-class American educators,” explains Ben Hale, Malaysia Managing Director of Oasis International School. “We believe that the highest standard of education will be made available to both residents and the public at large living nearby who desire a quality education that will put our children and the future generation enrolled in good stead.”

The K-12 program will also specialize in high-tech integration into the educational process from the earliest grade levels. “Every student and teacher will have access to technology that will enhance the educational curriculum that we’ve structured,” states Ben Hale. “We believe that technical and practical applications of knowledge will be the key to creating dynamic minds and forward thinkers.”

Phase 1 of the construction work which consist of an administration building, classrooms, auditorium building, soccer field, gymnasiums and parking bays will commence after obtaining approval from the relevant local authorities, with initial intake of 600 students. Phase 2 will follow should the opportunity

arises in respond to the capacity that eventually should peak at 1,200 students. Oasis International School, KL will be the third school in Klang Valley which adopts the American System.

In addition to the school, the development has seen an overwhelming take-up rate for its new commercial project consisting of 48 units of shop offices. In response to strong interest, IJM LAND will launch the second phase comprising of 88 units shops offices. Keen buyers are encouraged to register their interest. Nest seekers will be thrilled to know that IJM LAND will launch individual title double-storey homes with a targeted selling price of under RM680, 000.

The media were invited for a “têteà-tête” with Managing Director of IJM LAND Berhad, Edward Chong Sin Kiat about present and future of IJM LAND developments as well as the IJM LAND Designer Award (iLDA). Ben Hale also joined the tête-à-tête session to elaborate about the international school’s unique propositions.

Dato’ Soam Heng Choon - CEO of IJM Corporation Berhad, Mr. Shuy Eng Leong - COO of Bandar Rimbayu and Dr Joe Hale- President of Oasis International School were likewise present and dine together with the media and sponsor representatives.

A sumptuous four course Italian dinner was served and accompanied with lively upbeat jazz performance. Several members of the media went home happy as their names were picked during the lucky draw session.

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FEATURED PROPERTY EVENT

Real Estate Agents and Negotiators Celebrate Excellence

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ecognizing the pinnacle of excellence and talent in the field of real estate, the National Real Estate Awards celebrated the outstanding achievements of Real Estate firms, Real Estate Agents (REA) and Real Estate Negotiators (REN) that performed well throughout 2014.

The Gala Dinner, hosted at the Sime Darby Convention Centre, was graced by the President of the Board of Valuers, Appraisers and Estate Agents (BOVAEA) Sr. Faizan bin Abdul Rahman.

In attendance at the black tie event were over 750 people and marked the 7th year since the National Real Estate Awards was initiated in 2009.

This year saw several significant milestones such as the opening of new categories to celebrate innovation and the recognition of top performing rookies in the real estate fraternity. A record breaking 38 submissions were received for 19 categories of which seven were new categories.

The new categories launched this year included Top Rookie Realtor of the Year, Top Project Marketing Firm of the Year, Most Innovative Firm of the Year, Real Estate Website of the Year, Top Real Estate Negotiator of the Year, Top State REN of the Year and Rookie REN of the Year.

Eric Lim, Organizing Chairman of the National Real Estate Awards Committee said “we are delighted that so many

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1 Real Estate agencies participated this year and we look forward to recognizing the top talent that the real estate fraternity has to offer”.

He also hoped that this drive to commemorate the pursuit of excellence will continue in subsequent years.

One of the more exciting awards was the Million Dollar Roof Top award, presented to Estate Agents who have in their personal capacity collected a minimum of RM 1 million in professional fees in 2014. A total of three Estate Agents shared the award this year which was a testimony of their dedication even with a softening property market in 2014.

“What makes a successful REA or REN is the focus given towards providing the best possible service to our clients.

As legally registered agents or certified negotiators, these awards represent the highest standard to which we hold to our professionalism and quality of service,” he added.

The Lifetime Achievement Award, formerly known as the Leadership Award, was also presented to the personality that had contributed significantly to the growth and development of the Real Estate Agency industry over the years. The recipient this year was Mr. Stephen Tew of Hectares & Stratas.

Eric further commented that it was also a challenge for the judges to choose the winners due to the amazing results and talent showcased by firms, REAs and RENs.

The event also saw the ceremonial handing over of MIEA’s Presidency from Immediate Past President Mr. Siva Shanker to incoming President Mr. Erick YT Kho. Award sponsors included theedgeproperty.com and PropertyGuru with Homefinder as the magazine partner and The Star as media partner respectively. Nextdor Property Communications was the public relations partner.

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Proud of excellence.

Winners of the awards gathered together for group photo

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WEST MALAYSIA PROPERTY NEWS

Malaysia Is On Track To Become High-Income Nation – Najib

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espite the current volatile global economic situation, Prime Minister Datuk Seri Najib Razak said Malaysia is on track to achieve its goal of becoming a high-income nation by 2020.

Najib made the statement on his speech at the 5th Global Science and Innovation Advisory Council (GSIAC) in Manhattan, New York, as reported by The Borneo Post.

However, according to Najib, Malaysia must always be prepared for changing conditions and external shocks that were beyond its control.

He said unlike during the 1998 Asian economic crisis which saw the economy contracted by -7%, the current economy is expected to grow at a rate of 5 %.

The government had learn from the past and managed to reduce fiscal deficit from -6.7% in 2009 to 3.2 % this year, he added.

“Hence, the banking and financial system continues to have strong capitalization and ample liquidity.

The rate of non-performing loans and inflation are low and manageable.”

Najib emphasized the success of national policies, particularly the National Transformation Policy that led to a decline in poverty rate to just 0.6% in 2014. According to him, about 1.8 million jobs had been created since the launch of the Economic Transformation Programme in 2010.

The prime minister also said that ratings and reports by international financial agencies such as Fitch Ratings, Moody’s Standard & Poor’s had reflected the actual picture of the current economic management in Malaysia.

“The nation’s well-being and the welfare of the people have always been my foremost concern and priority. It is important to strike a balance between the capital economy and the people’s economy,” said Najib.

Malaysia was ranked 12th out of 60 countries in The World Competitiveness Yearbook 2014.

A Cultural & Colourful Affair At SkyWorld’s RM12 Million Property Gallery

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kyWorld Development Sdn Bhd welcomed 600 of its purchasers to a night of arts and culture at their first ever Home Owners Appreciation night, which was celebrated in conjunction with the recent Mid-Autumn Festival Celebration.

Stunning, colourful lanterns made from recyclable materials adorned the evening, made by Master Koh Liang Xia and the Malaysia Lantern Association, while guests were

treated to cultural performances of rainbow calligraphy, Chinese orchestra & dance and traditional Chinese street food.

Honorary guests were Father Mathew and Sister Malar, along with 50 orphans from Pertubuhan Kebajikan Anak Yatim Mary KL from Air Panas.

“We wanted to express our heartfelt gratitude to the purchasers of SkyAwani and Ascenda Residence

@ SkyArena, where Phase One was fully sold out within nine months based on word of mouth alone.”

Says Chief Project Officer and EXCO member, Lee Chee Seng.

SkyWorld aims to nurture a vertical community built around health and wellness facilitated by a 9.4acre multi-facility sports complex designed within their upcoming mega 28-acres mixed-development project, SkyArena at Setapak. This integrated development is slated for

completion in 2021 and will feature SOHO residences, a retail mall and commercial space, as well as a boutique hotel.

SkyWorld owns prime landbanks in Setapak, Jalan Sentul Pasar, Bandar Baru Sentul, Taman Danau Desa, Bukit Jalil and Setiawangsa with potential gross development value totalling more than RM5 billion.

Nickelodeon Comes To Sunway Lagoon Sunway Lagoon’s success has not only seen the number and size of attractions at the theme park increase, it has also allowed Sunway to capitalise on its accomplishments.

Nickelodeon logo

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unway Group expects the Sunway Lagoon theme park to draw in two million visitors in 2016 with the opening of its RM100 million Nickelodeon attraction in Q4 2015, reported The Star.

For this year, Sunway Lagoon is expected to attract a total of 1.5 million visitors.

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Notably, Sunway will launch a 401-room hotel to complement its existing Sunway Pyramid Tower East Hotel in order to cater to the growing number of visitors.

Sunway Pyramid Tower West will cost RM300 million, revealed Sunway Shopping Malls & Theme Parks (which is part of the Sunway Group) chief executive officer H.C. Chan.

“The new hotel is part of the group’s asset-enhancement programme,” he said.

Pyramid Tower East, as well as the adjacent Sunway Resort Hotel & Spa currently have a total of 1,250 rooms. The group will see the total number of its rooms increase to 1,700 with the completion of the Sunway Pyramid Tower West by the end of this year.

Commenting on the oversupply of hotel rooms within the Klang Valley, Chan noted that the additional 400 rooms will easily be absorbed.

Moreover, the additional rooms will “fit into the group’s plan for the hotel business to leverage on the Sunway Lagoon theme park,” he said.

Aside from adding more hotel rooms, Chan revealed that the group also plans to expand the Sunway Pyramid Mall.

Phase 3 extension will see an additional 100,000 sq ft of space for an investment of RM10 million, while phase 4 will see an additional 500,000 sq ft of net lettable area for RM500 million investment.

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FEATURED PROPERTY EVENT

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WCSC 2015 Urban Regeneration Through Smart Partnerships

ver 500 participants gathered for the 7th International Conference on World Class Sustainable Cities 2015 (WCSC 2015) at the Royale Chulan Hotel, Kuala Lumpur last Tuesday (29th September). The event was co-organized by the Real Estate & Housing Developers Association Malaysia Wilayah Persekutuan Kuala Lumpur (REHDA KL), The Malaysian Institute of Planners (MIP) and the Malaysian Institute of Architects (PAM), and supported by City Hall Kuala Lumpur (DBKL).

WCSC which kicked-off in 2009, is an event held annually to bring together ideas and best practices on what makes cities sustainable places to live and work in, as well as to increase the awareness of our city dwellers and other stakeholders on what makes a city great.

“We are also happy to note that WCSC’s impact has gone beyond the boundaries of Kuala Lumpur. Each year, more and more local councils from across Malaysia have sent representatives to this conference.

This year we have over 20 Government Ministries and Local Councils from across Malaysia with us today,” explained Datuk N.K Tong, Organizing Chairman of WCSC 2015 from REHDA KL. Various topics were brought up during the previous WCSC conference such as the transformation of Cheongyecheon River in Seoul, South Korea and the city transportation solutions in Curitiba, Brazil.

For this year, WCSC 2015 focused on the theme “Urban Regeneration through Smart Partnership”.

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“We have searched across the globe for world class ideas and speakers to share an impactful day with us. There are also Master Classes that will be conducted in smaller groups on a separate day, led by our esteemed speakers, to delve into greater details on the opportunities for the future urban regeneration of Kuala Lumpur,” added Puan Khairiah Tahla from MIP. In previous years, WCSC conference speakers have had an influential impact in shifting public perceptions to the Kuala Lumpur project that followed, for example, the restoration of the Cheongyecheon River which became the prelude to the Kuala Lumpur River of Life project, the Curitiba experience in transforming the city’s buses and MRT, and the pedestrianization projects that include covered walkway systems to make cities for the people.

“We are especially excited this year, as WCSC 2015 is on the official agenda of the ASEAN Mayors / Governors Meeting (MGM). It is a great opportunity for Kuala Lumpur to showcase and lead the way in urban regeneration within ASEAN,” shared Ar. Sarizal Yusman Yusoff from PAM. Present during the conference were world class speakers – Mr Stephen Luoni, Director of the University of Arkansas Community Design Center, United States; Ms Dyan Currie, Director of Planning & Environment, Gold Coast, Australia; Ms Sascha Haselmayer, Chief Exectutive Officer of CityMart, Barcelona, Spain; Ms Catarina Rolfsdotter-Jansson, Journalist / Moderator and Innovator & Founder of Rolfsdotter AB from Malmo, Sweden.

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Tong, Loga and Kuala Lumpur Mayor Datuk Mohd Amin Nordin Abdul Aziz at world class sustainable cities 2015.

Over 500 participants attended the conference.

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FEATURED PROPERTY EVENT

Perth’s New Affinity Apartments debut in Kuala Lumpur

Investment Opportunities Bloomed For Malaysians

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erth, Western Australia which located literally in the west of the land associated with kangaroos is no stranger to property investors around the world, especially for Malaysian as Malaysia was listed among the Top 5 investors to the region. Sharing the same time zone, excellent fight connection, and famous spot for higher education are part of the reason why some of us might consider Perth as their new home.

Due to reasons like these, investment opportunities in Perth grows like mushroom after rain and it amplifies more with the launching of Affinity Apartments – a modern and visually striking landmark in one of the most vibrant residential precincts in the city. The launching ceremony was held at Le Meridien, Kuala Lumpur Sentral on 10 to 11 October.

The 147 units of apartments have been architect-designed to create a feeling of space, comfort and contemporary lifestyle. It also includes a secure 2 levels of basement parking, 1 level of commercial lots for retail or office use, 8

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levels of studio, 1, 2 and 3 bedrooms apartment units, as well as expansive communal leisure facilities such as a resort-style wet-edged pool and sun deck, barbecue area, shaded cabana, alfresco lounge area and fully-equipped gym.

The freehold property is priced from AUD$325,000, and with weekly rental fetching from AUD$375 – 400, it is a standout investment option.

The event was featured with the presence of the team from second largest bank in continent– Westpac Banking Corporation of Australia.

Westpac Branch Manager Mr Allen Liew, who armed with fluency in oriental languages, led the team to aid the potential buyers with their famous and excellent service of providing preapproved loans within 30 minutes.

Approximately 140 visitors attended the event.

Also present during the ceremony were City of Perth Councilor Mr Keith Yong, Chief Executive Officer of Affinity Apartments Ms Maggie Cai, and Lawyer / Migration Agent of LEX Legal & Lex Migration Mr Jonas Yong.

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Sales team pose with the Affinity Apartment building model.

Visitor seeking advices from the experts.

Mr Enoch Khoo delivering his talk to the visitors.

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INTERNATIONAL PROPERTY NEWS

INTERNATIONAL PROPERTY NEWS

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

Tropicana Cancels RM444.3m Land Buy Senibong Sdn Bhd TDSSB (formerly known as Renown Dynamic Sdn Bhd) has exercised its right to terminate the sale and purchase agreement (SPA) signed on Dec 23, 2013, as the conditions precedent were not fulfilled in accordance with the SPA’s provisions.

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he acquisition of a 34.2 hectares leasehold land meant for a RM3.7 billion mixed development in Johor Bahru, Johor has been terminated by the acquisitor itself – Tropicana Corp Bhd. In a filing with Bursa Malaysia, the group said its special-purpose vehicle (SPV) Tropicana Danga

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However, it did not specify which provisions have not been fulfilled.

In December 2013, Johor based developer Tebrau Teguh Bhd had proposed the establishment of a joint venture with Golddust United Sdn Bhd – a wholly owned unit of Tropicana, to jointly develop the said land in Mukim Plentong, Johor Bahru.

The SPV, Renown Dynamics, would acquire the land, which is partially under water and needs to be reclaimed, for RM444.3 million from Tebrau Teguh.

Tebrau Teguh would hold 30% in the SPV, which would develop the leasehold land, while 70% would be taken up by Golddust United.

Tropicana had said then that the land acquisition was aimed at increasing its land bank at strategic locations, particularly Johor, for its future property development and investment activities in the region.

Why Prices Of Luxury Residential In Beijing Are Soaring

Australia Housing Market In Risk Of Recession - Morgan Stanley

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ustralian housing sector has “peaked”, increasing the risk of recession, according to new report sourced

by BBC. Analysts at investment bank Morgan Stanley said lower migration rates, tighter financial lending rules and over-supply would blunt housing growth.

Australia’s official cash rate is a record low 2% but regulators recently tightened lending rules for investors.

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rade-A apartments in Beijing are leading the way for price growth in the city’s property market, as they embrace a shift towards average prices of CNY100,000 (USD15,700) per sqm, according to a new Savills report, as reported by PropertyReport.com The most expensive transaction this year has been for a unit at Wanliu Academy which achieved approximately CNY131,000 (USD20,500) per sqm.

Q2 2015 saw Grade-A apartment prices grow 3.6 percent year-onyear to an average of CNY68,500 (USD10,700) per sqm. Limited developable land, as well as the recent loosening of market policies and growth of HNWIs, is inspiring heavy demand and resulting in developers accelerating their launch schedules in order to capitalise on this. Six developments were launched in H1 with a total of 818 units.

As well as the fifth interest cut since November 2014 at the end of August, the restrictions on foreign ownership have also recently been lifted, although it’s unknown how much of an impact this will have on the market, reports the South China Morning Post.

“We believe this is a measure to support further recovery in the property market, which is a key economic driver in China,” said Frank Chen, the head of China research at CBRE. “However, it remains a question whether this relaxation can attract new foreign investment, given increasing concern over China’s economic slowdown and the yuan’s depreciation.”

The high-end villa market is also performing well, with 10 developments entering the market for a total of 886 units in H1. Prices soared by 14.2 percent year-onyear, to an average of RMB56,200 (USD8,800) per square metre – the highest pre-sales price achieved was over RMB200,000 (USD31,300) per square metre.

Morgan Stanley predicts a fall in the number of houses sold at auction, and slowing price growth.

A prolonged period of low interest rates was meant to help the sector but tighter lending rules were squeezing the market, the research said, according to local media.

“Despite common belief that lower-for-longer Reserve Bank of Australia rates will see strong housing conditions persist, we think macro-prudential (lending rules) is effectively tightening policy settings,” Morgan Stanley said.

“We are now calling the peak in the housing cycle, and expect further falls in auction clearance rates and house-price momentum, with a negative impact on construction occurring over 2016.”

The report comes ahead of the first spring auctions in Sydney, this weekend, which will give an indication of whether this year’s strong buying interest is tapering off.

LENDING CRACKDOWN At a median price of A$1m ($710,000, £460,000), Sydney houses prices are among the world’s most expensive.

Prices in some other capital cities have already cooled.

Australia’s bank regulator, the Australian Prudential Regulation Authority (APRA), has imposed conditions on lenders in a bid to keep total investor loan growth at 10% for 2015.

The number of immigrants entering Australia has also slowed at a time when housing construction, particularly of apartments, has increased.

Morgan Stanley said any slow down in the housing market would coincide with a slow down in Australia’s resources sector, outweighing any positive contribution to the economy from a lower Australian dollar.

Savills expects these price trends to continue rising throughout the year and a gradual shift towards RMB100,000 per square metre to approach shortly. Absorption rates should quicken as demand remains high with the growing consumer confidence allowing the market to regain stability.

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HOT TOPIC

Buying Property Through Auctions A good way to own your dream home?

By: Jeevan Shanmughananthan

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here is often a stigma and a long standing misconception that is attached to the word ‘auction’ in Malaysia. Perhaps, this is due to people’s perception to auctions in a negative way without fully understanding it. As most auctions commonly expose the auctioning off of distressed properties, personal belongings of a dead person, old unwanted items, etc, they have led people into believing that a public auction is akin to a “fire sale”, a place to get their hands on cheap properties and items.

Instead, let’s replace that negative mental picture with these:

Honestly, that was on your mind too, wasn’t it?

With insight drawn from 12 years of experience in real estate and auctioning in Malaysia, I will reveal​where the common mistakes are. I have explored the knowledge of real estate auctions in Malaysia and what it can and cannot do for you. You will be shown how to transform your knowledge into your single biggest asset. .

This mindset is misguided and here you will know firsthand that auctions simply act as a platform for buying and selling things - most of the time, valuable items - for example, art, jewellery and so on. Now, I need you to put the negative notions out of your mind for the sake of gathering wisdom.

Can we do that? Good.

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1.

Property Auction is a means of buying a property at a fair market value.

2.

Property Auction is a means of selling off a property easily with the possibility of making a tidy profit.

Remember, whenever there are challenges, there are always opportunities…

What Do I Do If I Want To Bid In A

Foreclosure Auction?

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HOT TOPIC

So, are you interested in buying a poperty in an auction now? Here are some of the things you need to do order to ace the deal

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First of all, find out where and when there will be an auction. You can get this information by going through newspapers, property magazines or get the information from a property agent. This gives you enough time to get yourself prepared.

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Next, you will need to find the right property. It has to be something that suits your taste in terms of location, type of property and design. Make an effort to look at an auction brochure and take some time to understand it. This will tell you the location and the type of properties that will be auctioned off on certain dates. Make your choice from there.

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Get a copy of the Proclamation of Sale document from the auctioneer. Check-up on the details of the property in this document. You will be able to ascertain if there is anything tied to the property like outstanding assessment bills, quit rent, maintenance charges, utility bills, etc. Speak to the auctioneer if there are things you are not sure of and if you have any questions that might be floating around in your mind. You will also need to find out when you will have to settle the balance of 90% so that you will have the money close at hand. Depending on a case-by-case basis, the time frame is usually between 90 and 120 days.

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Next, please view the property. In an auction you need to be as detailed as possible, for your own good. Don’t just rely on the pictures in the catalogues. Go see it with your own eyes and determine if that is what you want. You can either go and sight the place or arrange with the auctioneer for a viewing. Since most auction properties are in some state of neglect, you may also want to bring along your contractor to give it a once over so that you get a rough idea on how much the repair or renovation would cost.

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After viewing the property and deciding that you like it, you will now need to get your finances in order. Firstly a bank draft or banker’s cheque for 10% of the property’s reserve price. Say if the reserve price is RM100, 000, you will need a bank draft of RM 10,000. Next, speak to your banker to arrange financing options for the balance of the 90%. It is good to get pre-qualified for a loan before the auction

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Set a personal maximum price tolerance. This is the maximum price that you are willing to pay for the property.

This price needs to be set prior to the auction. Set it based on logic because during the auction, excitement and thrill may just throw you off budget. At the end of the auction you may regret to know that you have paid much more than you initially intended to and there is no going back or cancelling.

For example if your maximum is RM110K, be ready to walk out when the next person’s bid is RM 111K. You may not know how far the bids might go.

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Auction day: Get there early. Register yourself and get a bidding number… The auctioneer only recognizes your bidding number and not you o ​ r your name. At the end of the auction, only the winning number and the amount will be announced. This is in the interest of privacy. (Getting there early also ensures you have a good seat and within the sight of the auctioneer)

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Be clear when making your bid. Make sure the auctioneer sees and acknowledges your bid. Do whatever to get the auctioneer’s attention such as by raising your hand, calling out ​or waving​your bidding paddle around. Anything. Just make sure your bid is acknowledged because at the fall of the hammer, the deal is sealed

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Caution: Be wary of syndicates​hanging​around the auction site. Some may try giving you wrong information to discourage you from bidding, some to scare you into stopping your bidding; ​while​some may demand that you pay them in order to improve your success rate… Don’t give too much thought to them as they’re mostly harmless and are just trying to make a quick buck o ​ ut of a ​ bidder’s ignorance.

Procedures to comply with: Prior to an auction, interested bidders are required to register themselves with the auctioneer otherwise they will not be allowed to participate. They may need to pay a deposit or a ​​ reservation f​ ee. It is important to remember that cash is not accepted and p ​ ayment needs t​ o be made either by bank draft or by bank transfer into the c​ lient’s account.

Documents To Prepare These are the documents you will need to prepare before any auction if you are buying under:

COMPANY 1.

Form 24, 49, Article of Association/ Memorandum of Association

2.

Director Resolution

3.

Authorization letter/ representative letter

4.

Director’s IC(copy)

5.

Nominee’s IC (copy)

6.

Form 11- bumiputra ownership

PROXY (Standing In For Someone) 1.

Authorization letter to appoint representative to bid on behalf of buyer

2.

Nominee’s IC

3.

Buyer’s IC (copy)

4.

After the Auction, there is something called “buyer’s premium” or “auctioneer fees” which are calculated based on the following table.

In Malaysia the seller is the one who pays.

INDIVIDUAL-PERSONAL NAME 1.

IC

2.

Bank Draft – Bank draft deposit for the property that you are interested to bid on.

5.

If the bidder is unsuccessful in bidding for the property, he can redeem his bank raft or cheque at the registration counter

Tip: It is good to go to a few auctions as a spectator first to understand the environment, the pace and the whole “live” process before going for the one you want to bid in. Familiarize yourself so you won’t be one of those ​ few ignorant bidders​who were taken advantage of. ‘You wouldn’t jump straight into the sea before learning how to swim, would you?’

Jeevan Shanmughananthan is the Managing Director of Sri Shan Realty and is a University Malaya accredited auctioneer with 10 years of real estate experience behind him. He is also the author for the newly launched book titled, “Real Estate Auction In Malaysia”.

immediately after the auction

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45

INTERNATIONAL PROPERTY NEWS

After Years of Negotiations, Trans-Pacific Partnership (TPP) Is Reached They also do not like the fact the five-year long talks have been largely secret.

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welve Pacific Rim countries sealed the deal Monday (5th October 2015) on creating the world’s largest free trade area, delivering President Barack Obama a major policy triumph, a US official said as reported by The New York Times.

Obama welcomed a deal sealed Monday to create the world’s largest free trade area, saying that it “reflects America’s values” and “puts American workers first.”

Obama said that the 12-nation Trans-Pacific Partnership, which encompasses 40% of the global economy, would allow the United States to “export more products stamped Made in America all over the world.”

The deal marks a major policy triumph for Obama, who has made the issue a priority of his second term.

The deal on the Trans-Pacific Partnership, led by the United States and Japan, aims to set the rules for 21st century trade and investment and press China, not one of the 12, to shape its behavior in commerce to the TPP standards.

“When more than 95 percent of our potential customers live outside of our borders, we can’t let countries like China write the rules of the global economy. We should write those rules, opening new markets to American products

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while setting high standards for protecting workers and preserving our environment,” said Obama in a statement.

US Trade Representative Michael Froman officially announced the hard-won deal on the sixth day of talks in Atlanta, Georgia.

In Tokyo, Prime Minister Shinzo Abe confirmed the “broad agreement”, which will create the world’s largest free-trade area encompassing 40 percent of the global economy.

Besides the US and Japan, the TPP includes Australia, New Zealand, Canada, Mexico, Peru, Chile, Vietnam, Singapore, Brunei and Malaysia.

The deal came after talks between 12 ministers in Atlanta went four days past deadline to resolve conflicts over how to protect the rights of creators of biologics, a cutting edge class of drugs, and how to open more markets to trade in dairy products.

TTP Analysis by BBC 1. TTP is one of the most ambitious free trade agreements ever signed Those in favour say this trade deal will unleash new economic growth among countries involved.

Those against - particularly some Americans - fear it could mean jobs will move from the US to those developing countries involved.

2. TPP in a nutshell There are 12 countries involved: the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru. The pact is aimed at deepening economic ties between these nations, slashing tariffs and fostering trade to boost growth.

Member countries are also hoping to foster a closer relationship on economic policies and regulation.

The agreement could create a new single market like that in Europe.

3. When did it start?

It began with a trade agreement between just four nations - Brunei, Chile, New Zealand and Singapore that came into effect some 10 years ago.

That deal removed tariffs on most goods traded between the countries, promised to cut more and co-operate on wider issues such as employment practices, intellectual property and competition policies.

4. How big a deal is the TPP? Pretty big indeed. The 12 countries have a collective population of about 800 million - almost double that of the European Union’s single market. The 12-nation would-be bloc is already responsible for 40% of world trade.

The deal is a remarkable achievement given the very different approaches and standards within the member countries, including environmental protection, workers’ rights, and regulatory coherence - not to mention the special protections some countries have for certain industries.

5. What do critics say?

They argue it is a not-so-secret gambit to keep China at bay. China is not involved in negotiations.

Others claim it will pave the way for companies to sue governments that change policy on, say, health and education to favour state-provided services.

The TPP will also intensify competition between countries’ labour forces.

But the biggest criticism has been of what the campaigners allege to be secretive negotiations in which governments are seeking to bring in sweeping changes that voters have no knowledge of. Defenders say the reason the negotiations were not made public was because there was no formal agreement on them.

6. What happen next?

Details of how the deal will be implemented will be argued out in individual countries’ legislatures in the coming weeks and months before being ratified.

In the US the pact is likely to come before Congress in the midst of the presidential primaries, turning it into a major political football within both parties.

However, Congress has granted the President “fast-track” authority over the deal, which allows lawmakers to review the agreement, but not to amend it.

Knight Frank Continues To Shine Eurozone. Dublin and Madrid have outperformed while the French and German market remain mixed.

With the exception of Russia, the real estate markets in Central and Eastern Europe remain strong,” he continued.

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he leading independent global property consultant Knight Frank LLP has announced its financial report today (5th October 2015) for the year ended 31 March 2015 reporting a record £162 million profit and £443 million turnover.

The report shows that the group profit before tax yields 19% increase from £136.6 million in 2014 to £162 million, 13% increase in turnover from £392.7 million in 2014 to £443.1 million and showing strong balance sheet with net cash balances at £167.8 million.

“We have achieved a 19% in profit whilst continuing to invest significantly in recruitment and expanding our global platform,” said Knight Frank group chairman and senior partner Mr. Alistair Elliott.

“We continue to grow our network, recruiting the best people in key markets across the world. We believe it is this approach, as well as our unique partnership model that allows us to maintain a strong unified culture, the benefits of which our clients experience across our network,” he added.

in capital markets, valuations, residential sales, tenant representation and office leasing.

The benefits of a balanced business are, I believe, being delivered,” he emphasized.

Elliott also said they have seen strong performances across their network. According to him, in Asia where most countries have been affected by China’s slowing economic growth and the imposition of property cooling measures, Knight Frank India and Knight Frank Australia have both performed exceptionally and increased their profiles significantly.

Knight Frank have also established a new office in the Kingdom of Saudi Arabia to join the existing ones in Abu Dhabi and Dubai for their Middle East network.

According to Elliot, the opportunity in Africa grows enormously especially in Kenya and Uganda where there was a positive growth in the retail market.

Elliott stated that Knight Frank will continue to develop their key services in the principal cities around the world.

“2015 has seen particularly strong results in the retail markets in Kenya and Uganda and we are set to expand further in locations where client needs are greatest – as part of this approach we have recently opened a new office in Kigali, Rwanda,” he said.

“Our global strategies is working and we are winning more bestin-class instructions, especially

“In Europe, fortunes are varied.

This reflects the reality of the multi-speed markets across the

Elliott also said that Knight Frank’s 10 commercial offices across the United Kingdom have had their best year ever. The commercial estate activity has increased and there is significant life in the sector at the moment.

Commenting on the residential sector, Elliott said that currently the market for this sector is more mixed with the prime sector still absorbing the changes to stamp duty imposed last December, especially in central London.

“We continue to grow our network, recruiting the best people in key markets across the world. We believe it is this approach, as well as our unique partnership model that allows us to maintain a strong unified culture, the benefits of which our clients experience across our network,” he added.

“That said, the market continues to be underpinned by a combination of under supply housing, the improving economy and the low interest rate environment,” he finished.

Headquarted in London, Knight Frank operates from more than 370 offices in 55 countries including Malaysia which can be found in Kuala Lumpur, Penang, Johor and Kota Kinabalu. The group advises client ranging from individual owners and buyers to major developers, investors and corporate tenants.

Previous Page 1. Tropicana Corp. Bhd 2. Beijing Financial Street 3. The Icon of Australia Sydney Opera House This Page 1. The 12 Countries in TTP Agreement 2. Knight Frank Group Chairman and Senior Partner - Mr. Alistair Elliott

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47

INTERNATIONAL PROPERTY NEWS

Rich Australians Heavily Invested In Property Globally, high net worth individuals invest just 18.2 per cent of their portfolios in property.

“Wealthy Australians think that property will give them the maximum return on investment,” says Capgemini Director of Financial Services, Dipak Sahoo.

“In the rest of Asia, real estate does not rank as highly because property prices have cooled off,” he added.

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f you are wondering why wealthy Australians talk about property prices more than just about anything, it is because they are more exposed to property prices than just about anybody else.

Australians, defined as investors who have more than $US1 million ($1.4 million) in assets outside the family home, have a much higher propensity to invest in property than their global counterparts.

According to Australian Financial Review (AFR), a survey by management consultant Capgemini shows that high net worth

Property accounts for 30.8 per cent of wealthy Australians’ portfolios, compared with just 21.4 per cent for wealthy Asian investors.

Somewhat counter-intuitively, wealthy Australians’ exposure to shares is lower than the global average. Despite the ongoing criticism that self-managed superannuation funds invest too much in equities, high net worth individuals in Australia have 26.5 per cent of their portfolios invested in shares, compared with 27.9 per cent for wealthy investors globally.

That said, the message from professionals that Australians need to diversify their portfolios away from the local market appears to be taking effect.

Sahoo emphasized that despite the dramatic fall in the Australian dollar over the past year, the proportion of wealthy investors’ share portfolios that is invested offshore rose to 30.7 per cent in 2015, from 30.4 per cent in 2014.

Given Australians’ penchant for property, the latest Australian Bureau of Statistics figures will come as some relief. The bureau said on Tuesday the weighted average of the eight Australian capital city property prices soared 9.8 per cent in the three months to June, compared to a year earlier.

House prices in Sydney surged 18.9 per cent in the June quarter, the fastest rate on record in the current series.

The Capgemini survey showed that wealthy Australians’ top three concerns were whether they would have enough cash to last their lifetime, whether they could afford to maintain their lifestyle in retirement and the rising cost of healthcare.

London’s Property Investment Capitalised By Malaysia

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alaysia is among the countries that is capitalising the lucrative and transparent real estate market in London, United Kingdom, as reported by New Straits Times.

“Clarity in British rules and regulations has made it easy for foreign investors to transact in the United Kingdom,” said Knight Frank LLP, a leading independent global property consultancy, in a statement today.

in Paddington to a UK REIT British land for £210 million (RM1.14 billion) at a 4.5 per cent yield was part of the recent Malaysia-related deals. Previously, Kumpulan Wang Persaraan bought the Richard Rogers- designed skyscraper, 88 Wood Street, from the National Pension Service of Korea for £200 million (RM927.11 million) reflecting a 5.8 per cent yield in 2013.

Others included the purchase of a government building by Tabung Haji for £205 million (RM1.11 billion).

The sale of Employees Provident Fund’s (EPF) – One Sheldon Square

In addition, tax regime and long lease terms in the United Kingdom

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2 gives investors a more secured investment environment, it said, adding that investors were able to access accurate market information about particular assets. “London is one of the largest and most dynamic cities in the world, and

therefore offers a wide range of investment opportunities. It has the ability to evolve and create new submarkets,” the statement added.

USD 1.3 Billion Invested To Singapore In One Week

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ast week, two major deals in commercial assets (hotel redevelopment and ownership of major logistics real estate) in Australia have been reviewed by Singaporean firms, as reported by Property Report.

Pontiac is not the only Singaporean firm making waves in Australia.

Ascendas this week also bought a huge portfolio of 26 warehouses in Sydney, Melbourne and Brisbane for USD1.073 billion, according to the Australian Financial Review.

Pontiac Land Group acquired two heritage sandstone buildings in the centre of Sydney’s CBD for USD300.7 million, reported Deal Street Asia. The firm will be redeveloping the buildings into a 240-key luxury hotel once the current tenants – members of the New South Wales government – have vacated the building in 2018, with completion slated for 2021.

The deal was reported to be the largest ever industrial transaction in Australia, making Ascendas the eighth largest national industrial landlord in the country. The warehouses total over 630,000 sq. metres of logistics real estate, more than 80 percent of which is already leased to blue-chip tenants.

“Our approach to the project is guided by strong principles, including respecting and celebrating the Sandstones’ heritage and legacy, opening them up for visitors and locals, enhancing the surrounding public realm, and serving as long-term swards of these treasured buildings,” said Kwee Liong Keng, managing director of Pontiac, on the unique redevelopment opportunity.

Pontiac’s acquisition comes in the wakes of another Singaporean developer’s hotel investment in Sydney.

In May of this year, Far East Land, in conjunction with Hong Kong-listed Sino Land Company, purchased the Westin for USD445.3 million.

“When looking at the process undertaken on this portfolio, it is very apparent that investors from around the world remain attracted to the Australian market and are prepared to aggressively pursue the right opportunities,” commented Chris Key, head of corporate finance Asia Pacific at JLL. Other regional experts agree that Australia’s commercial offerings are currently dynamite to overseas investors.

“Yields in the Australian industrial market are still more favourable than those of other international markets, so global buyers will continue to seek opportunities in this market,” said Gavin Bishop, director at Colliers, who also mentioned the high activity levels of REITs and sovereign wealth funds in the region in the past year or so.

Top 10 Hotspots For Property In UK Revealed

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roperty experts, according to ThisIsMoney.com have revealed ten locations in the UK where property prices are likely to boom in the next decade - with Rotherham, Leicester, and even parts of Surrey making the cut.

The locations - a mixture of cities and commuter towns - are all in England, and have a huge variation in house prices - from terraced homes going for less than £90,000 (RM 608,210) to plush detached properties in excess of half a million.

But the common thread, according to online estate agents HouseSimple, is that those prices are due to increase substantially in years to come.

HouseSimple complied the list by asking its own ‘property experts’ for their opinions on property hotspots.

A spokesman said: ‘With property prices in London reaching an extortionate high, investors are beginning to look to other areas of the country to dip into.

‘With the average UK home now valued at £204,674 (RM 1,383,170) and with house prices rising, buyers could potentially buy cheap in these up-and-coming areas and watch the value of their property grow quickly over time.’

The predictions for the so-called hot spots were made on the back of key indicators, including trendy eateries, good transport links, a young population - and the occasional celeb.

While some - such as Manchester and Hove, the East Sussex town next to Brighton - have had an aura of cool for some time, others are more of a surprise.

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house price of £136,880 (RM 925,020), as does Ipswich, long regarded as the least desirable corner of otherwise posh Suffolk.

Rotherham in South Yorkshire features on the list, with an average

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2.

3.

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The survey outcome conducted by Capgemini The city of London Singapore City Property experts claim these ten places hold the most potential for a house price boom.

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49

BANKING AND INVESTMENT NEWS

$₤ € BANKING & $ INVESTMENT

NEWS

The banking and investment industry has a crucial role to play when it comes to property. Read about the most recent news and trends in this trade

Brace Yourself, Tough Ride Ahead – Zeti

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ue to the global economic uncertainty, Malaysians have been advised to make adjustments to better manage their finances in daily life until issues facing the world were resolved, according to Bank Negara Governor Tan Sri Dr. Zeti Akhtar Aziz as reported by The Borneo Post.

Stressing that Malaysia is not heading towards an economic crisis, Zeti said the global developments affecting the world community were “beyond our control”. She emphasized that Malaysians need to recognize that this was a challenging period for everyone, the country, individuals and businesses.

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“Everyone has to adjust. Malaysians need to recognize that this is a period of adjustment.”

To the individuals, Zeti has advised them to learn how to conserve and economise and to re-plan how they should live in this challenging period.

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“If they are facing financial stress, then they need to take advantage of the facilities that we have such as the Credit Counselling and Debt Management Agency (AKPK)”, she explained.

Zeti also advised Malaysian consumers as well as the small and medium enterprises to seek advices from the commercial banks on their loans.

“What they also have to know is that while they have access to financing, they need to be able to demonstrate that they have the ability to repay.

These are the things that they must do and learn to better plan and manage their finances,” she said.

Zeti further reminded to the business community that they could

not repeat the huge profit they make during the good times.

“During the good times, they have to build the buffers to allow them to ride out the difficult times. So it’s all about recognizing that this is what you must do to build up your own resilience.”

The central bank governor also said that Malaysians need to explore the opportunities available in the country, instead of going abroad.

“Domestic tourism has many exciting offerings. Or, explore educating their children here in Malaysia, as we have many good universities here,” she said.

They have to change their way of life whether they like it or not as it cannot be as it was before, she added.

Do Not Buy New Property This Year - HBA

No Need To Peg Ringgit To USD – Zeti

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here is still no need to peg the ringgit to the US dollar currently despite the continued downtrend of the local unit, says Bank Negara Malaysia (BNM) Governor Tan Sri Dr Zeti Akhtar Aziz (pic).

“If you peg the currency, something else will adjust, either prices or demand conditions, and those might have greater effects on our economy?,” she told reporters at the Malaysia-OECD High-Level Global Symposium on Financial Well-Being Wednesday.

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s cooling measures implemented by Bank Negara Malaysia set in, property buyers should hold off on purchases until at least next year to enjoy lower prices says National House Buyers Association (HBA) as reported by Malaysia Chronicle.

Prices have stayed stagnant and the property market slowed somewhat in the last year, indicating that tighter lending rules and related measures are achieving their desired impact.

HBA secretary-general Chang Kim Loong said property buyers should wait as the cooling measures were working well. Prices have gone down and are expected to reduce further.

“Do not buy new property this year. There is still the secondary market and auction properties that can be considered at cheaper prices,” he said after speaking at the forum, themed “Does Greater Prosperity Come With Less Housing Affordability?” in Kuala Lumpur on 26 September.

Chang said the investors club were now rushing to sell their properties at lower prices as there were no takers, and predicted “many foreclosure cases soon due to this”. He said new properties were not only more expensive but also developer-controlled, despite the lower construction costs.

Chang also said that HBA had forwarded several recommendations to the government ahead of the 2016 Budget announcement. Among the suggestions were higher stamp duties corresponding to the number of properties owned, and making mandatory the Build-and-Sell scheme as decided in 2012 but was put on hold.

“The utility companies should also shoulder the cost and responsibility to construct water reservoirs and substations for residential developments. They are now corporatised, so they should not be factoring in the cost of such utilities onto the developers as this will in turn be factored into the house prices,” Chang added.

At this point of time, Zeti said, the Government was not envisaging any measures like capital control as Malaysia has the market mechanism that adjusted to certain economic situation.

“What we want to demonstrate is that when we have fundamentals that can allow us to adjust, then when the uncertainty subsides, our currency will regain its strength again,” she said.

Zeti said the weakening of the ringgit was the result of many factors globally and BNM would ensure that the market would remain orderly.

“For the domestic environment, we need to try to resolve all the areas of vulnerability and uncertainties to provide confidence to Malaysian and non-residents who are participating in our economy and financial system.

On the possibility of the ringgit’s downturn affecting imports, Zeti said, BNM has not yet detected any sign of relations between those two things.

“It is demand conditions that are more important in affecting our exports and imports but I’m sure there will be threshold levels where they might have begun to have an impact.

“We have to monitor them and see the incoming information. So far, our track records and experiences have shown that demand (global and domestic), have been the key factor in affecting exports and imports,” she said.

On the ringgit forecast until yearend, Zeti said, it depended on what the development unfolded as there were a lot of uncertainty in the world currently, including when the US Federal Reserve Bank would exit from its zero-bound interest rate and energy and commodity prices.

“We have to demonstrate we can live under that uncertainties and survive. Even if there are any setbacks, we have shown time and again, that we are able to recover quite quickly,” she said. - Bernama

“We need to be in the position to withstand this kind of period,” she said.

Before the central bank’s cooling measures, property prices were on a steep climb, particularly in key markets, believed to be spurred by excessive speculation.

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BANKING AND INVESTMENT NEWS

Construction Cost Increased Up To 25%

Public’s Negative Perception Of Property Market Is On The Rise

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resident of Real Estate and Housing Developer’s Association Malaysia (REHDA) Datuk Seri Fateh Iskandar Mohamed Mansor revealed that there is an increase in prices of some construction materials, for about 20 to 25 percent since the fallen of ringgit, as reported by Property Guru.

“The cost of certain construction materials has actually gone up.

For residential units, if you talk about landed properties, it (the cost) shouldn’t be higher because the majority of the construction materials would be locally sourced,” he said at the presentation of Rehda’s Property Industry Survey for 1H 2015.

He noted that the cost of these imported items increased as suppliers ask for a review of the rates due to the weakening ringgit, although prices were locked six months ago.

Nonetheless, he revealed that the increase in landed residential property prices will only be minimal.

“For commercial and high-rises, there will be a little bit of increase,” he said.

“As you can see in the survey, 67 percent of developers said they try to absorb whatever increase they can. It’s only when we cannot withstand the cost that the price will eventually be passed on to consumers.”

he Property Affordability Sentiment Index Report H1 2015 conducted by Property Guru revealed that the negative perception of citizens towards the property market is on the rise.

be more demand for housing,” said Khazanah Research Institute (KRI) managing director Datuk Charon Mokhzani.

According to the survey, citizens had an unchanged view and a more positive view until the second quarter of 2013, but took a negative turn after the fourth quarter of 2013.

Ng Chan Mau auction house’s chief operating officer Foong Chon Wai noted that auctioned properties are on the rise, and most lower and middle-income residents are struggling due to our weakening economy.

“The price for auction properties will increase further,” he added.

In the First Half (H1) of 2015, 58% of the respondents have a negative view on the property market, meanwhile only 13% are seeing the positive side of it.

According to Property Guru, this is mainly due to the downfall of the economy and the sudden hike of the property prices. Recent Khazanah Report revealed that most properties are ‘severely unaffordable’, especially in Kuala Lumpur and Penang.

“If we don’t start tackling the problems now, what’s happening in Penang and Kuala Lumpur could begin in other states as well. With increasing urbanisation, there will

“However, if you talk about high-rises, items like lifts, escalators, precisioning and airconditioning are still imported.”

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The negative perception on the current property market is expected to be on the rise until the properties are affordable for lower and middle-income citizens.

European Commercial Property Investment Set To Hit €230 Billion In 2015, The Highest Since 2007 Peak While investment activity is buoyant in the large majority of European markets, occupier market trends remain more varied. Rental growth was patchy in Q2, with Dublin, Madrid and Vienna being among the small number of European markets to record increases in prime office rents. However, rental growth is anticipated to become more prevalent in the medium term, on the back of the improving European economy and falling availability levels, particularly for CBD offices.

prime office rents over the coming quarters, particularly as supply shortages are emerging in many key European city centres.”

Andrew Sim, Head of European Capital Markets, Knight Frank, commented, “Investment volumes continue to be driven upwards by the strong international demand for European commercial property, particularly from US investors, and by the increasing number of large portfolio deals.

3

T

he European commercial property investment market has continued to gain positive momentum, with transaction volumes reaching €104.9 billion in H1 2015, a 29% increase on the same period of 2014.

According to Knight Frank research, investment volumes for 2015 are forecast to reach €230 billion, which would make it comfortably the best year since the market peak of 2007.

Increased investment volumes were recorded in H1 across a wide range of markets, in both the core and the periphery of Europe.

The continent’s two largest markets, the UK and Germany, performed strongly in H1, providing a significant boost to overall deal volumes. The UK is on course for a record-breaking year for investment, while the German

market has been buoyed the strong performances of Frankfurt and Berlin.

The revival of activity in Europe’s peripheral countries has continued, as investors move up the risk curve and seek value in non-core markets.

Spain and Ireland, which have led the peripheral market recovery over the last 18 months, continue to attract heightened levels of investment, but the most impressive increases in activity during H1 came in Italy and Portugal.

The weight of money targeting commercial property has led to widespread yield compression, and prime office yields hardened in cities such as Amsterdam, Lisbon, Madrid, Milan and Paris during Q2 2015. Knight Frank’s European weighted average prime office yield moved in to 4.90%, its lowest level since Q3 2007.

These trends are expected to continue over the rest of the year, and we forecast that annual European investment in 2015 will be more than 20% up on 2014.

European transaction volumes are approaching the levels seen at the market peak of 2007, and several countries may well set new records this year.”

Matthew Colbourne, Associate, International Research team, Knight Frank, added, “European occupier markets continue to see mixed trends, in contrast to the widespread buoyancy of investment markets. Office take-up increased strongly in the key German and Spanish markets during H1, but Paris saw muted levels of leasing activity.

Over the last 12 months, office rental growth has been moderate outside of the hotspots of Dublin and London, but we expect to see more widespread increases in

Previous Page 1. Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz 2. Aerial view of Kuala Lumpur, the capital of Malaysia This Page 1. Materials for construction become more expensive since the declining of Ringgit.

2. Survey conducted by Property Guru 3. Real Capital Analytics by Knight Frank

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53

BANKING AND INVESTMENT NEWS

Knight Frank Launches Global House Price Index Q2 2015

K

night Frank, the independent global property consultancy, today launches the Q2 2015 Global House Price Index which tracks the house prices of 56 mainstream residential markets across the globe.

International Residential Research at Knight Frank Ms Kate EverettAllen stated that as China supplants Greece as the world’s key economic concern, and emerging markets look increasingly anaemic, there is a global quest for growth which is

According to the report, the price index shows that global house prices shifted marginally in the year to June 2015 rising by only 0.1%. Lingering concerns over the Eurozone economy, jitters in global stock markets and discussions of when, not if, a US rate rise occurs is impinging on growth.

The highlights of the report are as follows :1.

The Knight Frank Global House Price Index increased marginally by 0.1% in the year to June 2015.

2.

The Hong Kong market continues to defy its policymakers’ cooling measures with mainstream prices up 20.7% year-on-year.

3.

In Dubai, weaker demand, a strong US dollar and ongoing cooling measures led to a decline of 12.2% year-on-year.

4.

Although China saw prices fall 5.7% year-on-year, it recorded positive quarterly growth of 0.2%.

5.

Europe is no longer the weakest performing world region, a title it has held for 15 consecutive quarters.

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No Knowledge Of Privatization – AirAsia

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A

1

evident at a macroeconomic level but also when analysing house price performance.

Meanwhile, with markets increasingly interconnected throughout the region, economic concerns in China will continue to cause jitters throughout Asia Pacific, according to Mr Nicholas Holt, Head of Research for Asia Pacific.

“The resulting impact on housing markets is not necessarily straightforward. On the one hand, economic growth is a key indicator for future house price performance; while on the other, property in times of economic turbulence has been seen as a safe haven and a postponement of an interest rate rise hike in the US will continue to provide many markets with a low cost of debt.” he added.

irAsia has announced to Bursa Malaysia that it has no knowledge of it being taken private. However, the lowcost carrier confirmed that it is in discussions with certain bankers to partially finance the buy-back of AirAsia shares. “Referring to yesterday’s (07 October 2015) wire and media reports stating that the company will be taken private, the company would like to state that it has no knowledge of privatization.

“We were first made aware of the privatization rumour since it surfaced in August this year with the company shares being actively traded.” This was just prior to the company announcing its proposal for a share buy-back of up to ten percent on September 18, 2015.

The company confirms that it is in discussions with certain bankers to partially finance the buy-back of these AirAsia shares. The circular to the shareholders is currently being drafted in preparation for the upcoming Extraordinary General Meeting tentatively to be

held in November this year where shareholders’ approval will be sought for the proposed share buy-back.

Reuters reported yesterday that founders of Asia’s number one budget carrier AirAsia Bhd are sounding out investors to take the company private in a managementled buyout, after its shares took a beating this year following a critical research report, people familiar with the matter said.

According to the yesterday’s report, AirAsia co-founder Tony Fernandes was talking to banks to secure financing for the transaction, which could be launched over the next few months, said the people, who did not want to be identified as the discussions were confidential.

1.

2.

Knight Frank Residential Research AirAsia 9M-AHP at KKIA Terminal 2, Kota Kinabalu

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55

COFFEE TALK

How To Find An Amazing Deal Story by: Khai Yin

I

f you have been following our latest series of home buyer guides, then you’ll know that we are proponent of what we call the “GoodPlace Method”: 1. Identify a “hot” area with good capital appreciation potential.

2. Figure out the fair market value of a property in that area.

3. Find a good deal.

4. If you’re in the short game, flip it.

5. Bank the moolah and make it rain like Kanye!

So where do you find good deals then? As the Mentor would say, “anywhere and everywhere“.

For an established investor like him, deals come to him because everyone in the Malaysian property industry knows that he is a prolific dealmaker. But for the rest of us, a little more legwork is needed.

As the property market is already decelerating due to the multiple curbs introduced by the government we would expect those who are looking to sell to significantly outnumber those who want to buy. This means that buyers will now have more leverage, and this may mean that we will see cash-rich investors to come in during fire sales to buy up depressed properties.

If you’re starting out then there’s only one way to get yourself a “deal flow“: explore multiple avenues of property search. Some of these methods overlap with each other, some require payments and some are downright tedious. Nobody says it’s gonna be easy, and now if you believe that making money in property is easy then I’ve got a third bridge in Penang to sell you.

Here’s the list of “shock and awe” channels of property discovery that the Mentor has shared with me:

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Tip #1: Scour Property Sites These need no introduction. The biggest sites in Malaysia in terms of traffic are iProperty, Property Guru and Prop Wall (part of Star Property now). It’s easy to drown yourself when you’ve got some 517,000 listings to look at (iProperty claims to have that many… no joke), and it’s a good source of information (and data!) on upcoming areas (these are the places where you will see lots of new listings come up every day).

Personally, I like iProperty because it has more than enough listings for anyone to chew on although its interface is, well, too cluttered for my liking. Property Guru is somewhat better in terms of usability although listings tend to be less than iProperty. Prop Wall is pretty good when it comes to detailed property information, and while the interface is somewhat boring, it’s also highly functional and clean.

Many deal makers are looking elsewhere now because property sites are fast becoming what the industry calls an “agent play” – reportedly up to 30-40% of its traffic comes from agents who are looking to broker deals. There are also lots of what’s termed as “Ghost listings” – it takes some experience to weed these out.

To know of these deals, befriend bounty hunters: these are people who get to know potential sellers before, well, anyone else. This is often because they are in certain industries which place them closer to sellers by default.

These include:1. Barbers (my favourite).

2. Condominium managers.

3. Home renovation contractors.

4. Tukang paip.

5. Lawyers – especially those who deal with divorces, bankruptcies, etc.

Be prepared to pay a finder’s fee to these bounty hunters, and when the word goes around that you pay good money for good leads, then people will bring you deals.

This is what you do: 1. Buy the morning paper.

2. Look for notices: Lawsuits, Bankruptcies, Deaths, Divorces.

3. Look for the phone number.

4. Remind yourself not to be a jerk (important) 5. Call the number, and ask nicely (see #4) if there’s property for sale.

For the record, I do not condone this method because of the amount of trouble involved in the process.

But if I ever run into financial ruin running GoodPlace (the maintenance and hosting costs are killing me), then this is probably how I’d hustle my way out.

Just sayin’.

Tip #3: Be Nice To Real Estate Agents I like property agents because (like me) they hustle for a living. If you are known to make good deals, then the agents will come to you by default, and you win.

Pro-tip: look for ads which are already running for more than four weeks. If the property is already out in the market for a couple of weeks and still not taken up yet, then the seller might get a little desperate and cranky enough to sell you for cheap.

Remember that agents learn about properties that are yet to be listed at property sites and newspapers, and they can bring them to you first before putting them out in the market. Also, many agencies now have “exclusive listings” where their clients will get to cherry-pick the best deals before everyone else.

So: make friends with agents, be nice to them, stroke their egos, buy them Starbucks (hello Amanda), wash their cars, and most importantly, let them make some money off you. It’s worth it, trust me.

Tip #2: Befriend Bounty Hunters

Bonus Tip #4: Be A Cold Calling Hustler

Sometimes the listings that you see are already stale by the time they hit the newspapers and property sites. In fact, the best deals are often negotiated even before they hit “mainstream”.

I’m saving the most interesting method for the last. OK, I have personally not done this, but I know several hardcore hustlers who do this as their day job and they make good coin.

Khai Yin started writing about the Malaysian property industry as a labour of love. His website GoodPlace.my started as a side project after getting frustrated with the process of searching for a home.

Now, his site has generated over 48,600 monthly readers. Go to www.goodplace.my for more of Khai Yin’s amusing thoughts on property.

Stay Safe, Buy Within Affordability And Stop Bubble Building

Story by: Charles Tan

T

he property bubble will burst when majority of all properties in the market becomes so expensive that no one could afford to buy one. That’s why when everyone is buying above what they could afford and the banks still lend them money, we are staring at a potential property bubble bursting.

Recently reported in The Star, Bank Negara Malaysia’s governor Tan Sri Dr Zeti Akhtar Aziz advised first time home buyers to buy within their affordability. My first property was just a 700 sq ft apartment in an area which Penangites do not love. Truth is, not everyone can afford to buy a landed property or condominium as their first home. What’s wrong with an apartment?

Not many can afford to buy in hotspots.

What’s wrong with expanding the choices to those areas 10 minutes away? There are still landed properties costing below RM500,000 if you really must buy landed, but it is not going to be in Mont Kiara or Bangsar lah. Even buying a property in Kuala Lumpur means lots of areas to choose from and not just that few….

Prices in hotspots do not go up simply because of land cost or labour cost.

In terms of land cost versus gross development value (GDV), it is still around 10 percent or maybe up till 15 percent. The prices of these hotspots go up because the majority of people somehow believe that they must only buy at hotspots only! This creates a demand which is far more than supply in that particular area which actually does not apply to every other secondary choices.

That’s why there are areas which can easily sell at RM1,000 per sq ft but we can still find those which are priced at just RM400 per sq ft if not lower today.

Banks are still lending, but because of their internal property valuations,

they would not lend everyone 90%.

Some properties that are deemed too expensive means that they are willing to release just 80% or lower. According to Zeti, the loan-to-value ratio for first-time home buyers is different. Of course, they must still demonstrate that they have passed the test of affordability that they can afford to buy the house. It would be worse if someone were to buy something above what they could afford and this may cause them to sacrifice some of their other basic needs.

Want to know what the industry is saying?

Well, the House Buyers Association is asking everyone to play - buying property as prices are sure to come down, perhaps next year. This is however not the only point of view. REHDA said that due to the increasing costs of labour and the effects from GST and the falling ringgit, the prices of homes have to increase or it will be tough for developers to build. Do decide on the side that you want to believe. As for me, I would agree with Zeti because we must think about our needs first, not wants. Given a choice, I would love to buy a landed property in Desa Parkcity for example but I also need to take care of my other basic needs. This is the reality we just have to accept. Do note our quality of living, as we may just have to change our lifestyle a bit and we can buy one level up. Buy objectively ok.

Charles Tan enjoys writing about property while sipping through cups of coffee. His views are mostly based on his experience in property investment for the past 13 years as well as through readings and conversations with property gurus in the industry. Visit his website www.kopiandproperty.com for more insights and ‘coffee talk’ on property in Malaysia.

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57

58

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59

60

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61

62

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63

64

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65

PROPERTY LISTING |SABAH

APARTMENT FOR SALE

66

www.PropertyHunter.com.my

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

Abbreviation LA: Land Area BUA: Build Up Area *Listing are accurate at the time of print. Kindly contact the respective agents for updates.

www.PropertyHunter.com.my

67

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

PROPERTY LISTING |SABAH

APARTMENT FOR SALE

68

www.PropertyHunter.com.my

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

APARTMENT FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

69

PROPERTY LISTING |SABAH

APARTMENT FOR SALE

70

www.PropertyHunter.com.my

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

BUNGALOW / VILLA FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

71

PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

72

www.PropertyHunter.com.my

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

73

PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

74

www.PropertyHunter.com.my

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

CONDOMINIUM FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

75

PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

76

www.PropertyHunter.com.my

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

CONDOMINIUM FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

77

PROPERTY LISTING |SABAH

TERRACE / LINK HOUSE FOR SALE

78

www.PropertyHunter.com.my

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

TERRACE / LINK HOUSE FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

79

PROPERTY LISTING |SABAH

TERRACE / LINK HOUSE FOR SALE

80

www.PropertyHunter.com.my

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

SEMI - DETACHED HOUSE FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

81

PROPERTY LISTING |SABAH

SEMI - DETACHED HOUSE FOR SALE

82

www.PropertyHunter.com.my

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

SEMI - DETACHED HOUSE FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

83

PROPERTY LISTING |SABAH

COMMERCIAL FOR SALE

84

www.PropertyHunter.com.my

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

OFFICE SPACE FOR SALE

Extracted from PropertyHunter.com.my

INDUSTRIAL 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

85

PROPERTY LISTING |SABAH

AGRICULTURAL LAND FOR SALE

86

www.PropertyHunter.com.my

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

RESIDENTIAL LAND FOR SALE

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

87

PROPERTY LISTING |SABAH

COMMERCIAL LAND FOR SALE

Extracted from PropertyHunter.com.my

RETAIL SPACE FOR SALE

Extracted from PropertyHunter.com.my

88

www.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

APARTMENT FOR RENT

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

89

PROPERTY LISTING |SABAH

APARTMENT FOR RENT

90

www.PropertyHunter.com.my

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

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www.PropertyHunter.com.my

91

PROPERTY LISTING |SABAH

CONDOMINIUM FOR RENT

92

www.PropertyHunter.com.my

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

CONDOMINIUM FOR RENT

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

93

PROPERTY LISTING |SABAH

CONDOMINIUM FOR RENT

94

www.PropertyHunter.com.my

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

CONDOMINIUM FOR RENT

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

Extracted from PropertyHunter.com.my

www.PropertyHunter.com.my

95

PROPERTY LISTING |SABAH

SEMI - DETACHED HOUSE FOR RENT

Extracted from PropertyHunter.com.my

COMMERCIAL FOR RENT

Extracted from PropertyHunter.com.my

96

www.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

INDUSTRIAL FOR RENT

Extracted from PropertyHunter.com.my

BUNGALOW / VILLA FOR RENT

Extracted from PropertyHunter.com.my

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

PROPERTY LISTING |SABAH

OFFICE SPACE FOR RENT

98

www.PropertyHunter.com.my

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

99

100

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