Issue 79 - June 2016

EAST MALAYSIA’S LEADING PROPERTY PORTAL, MAGAZINE & EXPO

SPECIAL FEATURE

LUXURY ISSUE

Drive German, wear Italian, drink Scotch and kiss French. Luxury is in each detail where quality attracts quality.

TRICONIC TOWER : An Integrated Living Concept Surrounding A Nucleus Of Vibrancy | AEROPOD : The New Art Beat Of Kota Kinabalu | TAMAN BUKIT SEPANGAR : Real Estate “Trade-In” Concept with D’Ambience | Understanding The Affluent Home Lifestyle | Benefits Of Investing In Luxury Property | Discover Where And What Makes KL’s Next ‘Hotspots’

ISSUE 79 RM9.50 (Inc GST)

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CORPORATE

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Rebecca Michelle

Creative & Design

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Marketing Events

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Albee Chung

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Disclaimer, Permission & Reprints: This publication is not an investment advice. It is intended only to inform and illustrate. No reader should act on the basis of any matter contained in this publication without first seeking appropriate professional advice that takes into account their own particular circumstances.The publisher and editors give no representations and make no warranties, express, or implied, with responsibility of any of the material (including statistics, maps, articles, loan product tables, advertisements and advertising features) contained in this publication. The publisher and editors expressedly disclaim all responsibility for any errors in or omissions from the information contained in this publication, including all liability for any loss or damage suffered or incurred by any person as a result of or arising out of that person placing any reliance, weather whole or partial, upon the whole or any part of the contains of this publication. No correspondents will be entered into a relation to this publication by the publishers, editors or authors. The publishers do not endorse any company, organisation, person, investment strategy or technique mentioned in this publication unless expressly stated otherwise. The publishers do not endorse any advertisements or any special advertising features in this publication, nor does the publisher endorse any advertiser(s) or their products / services unless expressly stated to the contrary. Articles are published in the reliance upon the representations and warranties of the authors of the articles and without our knowledge of any infringement of any third party’s copyright. The publishers and editors do not authorise, sanction, approve or countenance any copyright infringement. This publication is protected under the Law of Malaysia Act 332 Copyrights Act 1987 and may not, in whole or part, be lent, copied, photocopied, reproduced, translated or reduced to any electronic medium or machine-readable format without the express written permission of the publisher. Copyrights 2013 Maxx Media (S) Sdn Bhd. All rights reserved.

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CONTENTS property SHOWCASE | 14

TRICONIC TOWER : An Integrated Living Concept Surrounding A Nucleus Of Vibrancy

property SHOWCASE | 20

AEROPOD : The New Art Beat Of Kota Kinabalu

property SHOWCASE | 24

TAMAN BUKIT SEPANGAR : Real Estate “Trade-In” Concept with D’Ambience

fEATURED event | 28

SABAH TRAVEL & PROPERTY MAGAZINE: THE FIRST CHINESE LANGUAGE PUBLICATION FOR THE CHINESE MARKET

FATHER’S DAY SPECIAL | 32

A DAUGHTER’S FIRST LOVE

PROPERTY SHOWCASE | 36

GLENEAGLES: IN THE ARMS OF ONE WHO CARES

FEATURED EVENT | 38 SPECIAL EVENT | 40 FEATURED EVENT | 44

CASAVIEW Sales Gallery Launch PH EXPO TAWAU : Your Passage To The Latest Property Developments MAKE ROOM FOR A PROMISING HOME IN BANDAR UTAMA, PETALING JAYA, SELANGOR

HOT TOPIC | 48

KINSABINA’S ANTICIPATION TO BE ON BURSA’S LISTING

FEATURED EVENT | 52

NEW KIDS ON THE BLOCK, BIG BATH OPENS 8TH STORE

HOT TOPIC | 56

SPECIAL FEATURE | 61

LIFESTYLE | 74

MALAYSIA REMAINS ONE OF THE MOST ATTRACTIVE COUNTRIES FOR LONG-TERM INFRASTRUCTURE INVESTMENT, ARCADIS REPORT FINDS LUXURY ISSUE • Understanding The Affluent Home Lifestyle • Benefits Of Investing In Luxury Property • Malaysia Versus The Rest Of The World • Anggun Residence : A Location Worthy Of Only The Extraordinary • Luxury Condos Around The World • Batu Ferringhi Phase 2 DRIVE Rolls-Royce : A New ‘Dawn’ Has Arrived. The New Rolls Royce’s Uncompromised Drophead Luxury FURNISH Larose Guyon : Shining Light Through Style and Romance GADGET & WATCH Empowerment Of Technology

hot topic | 84

INVESTING FOR YOUR CHILD’S FUTURE

hot topic | 88

SPA : Understanding the Sales and Purchase Agreement

hot topic | 90

FUTURE HOTSPOTS OF GREATER KUALA LUMPUR Discover Where And What Makes KL’s Next ‘Hotspots’

hot topic | 92

THE WEALTH REPORT 2016 : The Rich In Asia Increased

COFFEE TALK | 96

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If You Can’t Afford Something, DON’T RENT, Instead Buy Something You CAN Afford Developers Pessimistic But Luxury Home Prices Still Up

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PROPERTY SHOWCASE

TRICONIC TOWER

AN INTEGRATED LIVING CONCEPT SURROUNDING A NUCLEUS OF VIBRANCY An iconic condominium project with a Gross Development Value of RM390 million is making its way to a prime location ideally located in Bundusan, Penampang. The residential project is expected to launch by July 2016.

Prominently positioned to have a vantage point in Penampang, Triconic Tower is within easy access to the city centre and KKIA. This development is within close proximity to a mixture of high and low rise commercial and residential buildings, education hubs and eateries for daily conveniences. The elegant architecture of Triconic Tower prides itself on its contemporary, innovative yet comfortable homes for urban dwelling with vibrant common facilities.

Development By Kinsabina Sdn. Bhd.

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PROPERTY SHOWCASE

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he enclave consists of 768 condo units and are all designed to capture and maximize surrounding views on higher floors. The hotel-style condo boasts both indoor and outdoor communal facilities for the family. The 3 condominium blocks are completed with a swimming pool, a children’s playground, badminton court, basketball court, courtyard garden, BBQ area and a pond with gazebo.

The 16-storey condo units consist of typical block plans sized at 1,000 sq ft and 1,200 sq ft, with each unit displaying 3-bedroom, 2-bathroom and convenient facilities within easy reach. All three blocks house different facilities on the deck level, exclusive to its residents only. More than 56% of the total land usage is reserved for the common facilities.

BLOCK A As the focus is on promoting a healthy lifestyle, Block A comes with a gymnasium, steam and sauna rooms, changing rooms, Jacuzzi pools and outdoor table tennis area which are conveniently located on the upper deck.

The well-equipped gym provides a safe and great workout environment for the residents. First of its kind, steam and sauna rooms are divided into male and female rooms for the residents’ enjoyment. The sky lounge at Block A awaits you with a massage and foot reflexology centre. On top of that, a hair salon and facial therapy rooms are also available for your grooming needs; a personal beauty centre just a walk away without the hassle of traffic jam.

BLOCK B Block B houses a Management Office, a restaurant, tuition centre and a convenience store. Parents will value the convenience of an on-site learning facility and a store within the safe grounds of their home. Once there is time to sit back and relax, just head to the sky lounge for a breath of fresh air while overlooking the unobstructed panoramic view of KK city.

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BLOCK C Block C, however, has a function hall with a capacity to fit 160 guests, indoor games room, reading lounge with home theatre for a capacity of 30, and kid’s club. Residents of this development will be spoilt by these communal facilities. Residents may enjoy the array of facilities that are conveniently accessible from all their condo units.

Triconic Tower has a 3-level car park which comprises of 1,219 parking lots. Every 1,000 sq ft unit condo will be allocated a parking space, whereas the 1,200 sq ft condo units will be allocated 2 parking lots. Extra carpark lots can either be rented from the management or longleased from the developers.

Enjoy a refined living lifestyle within Triconic Tower where convenience is right at your doorstep.

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PROPERTY SHOWCASE

TRICONIC TOWER AT A GLANCE Location Landmark Total Land Area No. of Units Total Floor Area (Block A & B) Total Floor Area (Block C) Distance to KK city Distance to KKIA Distance to Tun Fuad’s Park Communal Facilities Swimming pool, wading pool, pond with gazebo, half basketball court, badminton courts, playground, BBQ area and open courtyard Block A facilities Gymnasium, sauna & steam room, changing room, jacuzzi pools and table tennis area Block B facilities Management office, restaurant, tuition centre and convenience store Block C facilities Function Hall (160 pax), game room, reading lounge with home theatre (30 pax), surau and kiddies fun club

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: Second lot from Jalan Bundusan, Penampang : Adjacent to Beverly Hills Apartments : Over 5 acres : 768 units (3 blocks of 16-storey condominiums) : 1,000 sq ft : 1,000 sq ft & 1,200 sq ft : 8.3 km : 8.9 km : 2.8 km Price range RM448,000 onwards for 1,000 sq ft, RM528,000 onwards for 1,200 sq ft Carparks 1 parking lot for every 1,000 sq ft unit & 2 parking lots for every 1,200 sq ft unit Carparks (1219 lots) Lower ground (655 lots), Ground Floor (264 lots) and Open covered (300 lots)

For more information, please contact Advance Property Consultants at

088 721 777 or 088 721 999 www.kinsabina.com

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PROPERTY SHOWCASE

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PROPERTY SHOWCASE

Real Estate “Trade-In” Concept with

D’Ambience

Set against the majestic backdrop of Mount Kinabalu, D’ambience is the latest addition to the resplendent Taman Bukit Sepanggar housing estate. With classic evergreen design that blends in perfectly with the surrounding, you will be rewarded with panoramic views of undulating hills and beautiful sunsets all year round.

Development By Wah Mie Group

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Exterior view of D’Ambience

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he property trade-in concept is relatively new to the real estate market in Kota Kinabalu and Sabah as a whole. Nevertheless, this concept has been around for a while and is already practiced in property markets around the world.

In the United Kingdom, the trade-in scheme is known as “part exchange”. When you purchase a new piece of property using the trade-in / part-exchange scheme, a company will offer to buy your existing property from you at a mutually agreed price, based on two independent valuations.

By using the trade-in scheme, you will save yourself all the stress of trying to sell your house on the market, hiring real estate agents and worrying about house buying chains. It is a straightforward process that makes your home move as fuss-free as possible.

Living room

Priced between RM2.0 million tonwards per unit, the D’Ambience homes are situated merely 15 minutes’ drive away from the Kota Kinabalu city centre. It is also surrounded by modern conveniences, such as the 1Borneo Hypermall Sulaman -- the largest lifestyle mall in Borneo -- Karambunai Golf & Country Resort, State and Federal departments at Mini Putrajaya, as well as educational hubs like University Malaysia Sabah (UMS) and Maktab Nasional.

Dining room

Out of 40 units of uniquely designed bungalow lots, there are only 4 units left remain for sale. This trade-in deal for D’Ambience for your existing house will enable you to have a peace of mind in selling off your existinghouse and move into a new home. If you have been worrying about the cost of renovating your existing house, FRET NOT as you can now simply trade it in with the new D’Ambience and move in immediately as D’Ambience is completed with Occupation Certificate (OC).

Trade-in concept with D’Ambience by Wah Mie Group Featuring 4+1 bedrooms and five bathrooms (three master bedrooms with ensuite bathrooms), each unit of the D’Ambience home has a built-up size of 4,982 square feet -- offering you a sprawling mansion-like abode of luxury living. It makes a picture-perfect home for three-generation families.

Interested buyer please contact Wah Mie Group sales advisor for more information.

088 252 177

www.www.wahmie.com

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PROPERTY NEWS

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

Sabah

SB IN

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International

Sarawak BK

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West Malaysia

Banking & Investment

Kinsabina to Launch Triconic Tower

SB

Local property developer Kinsabina Group of Companies will launch its Triconic Tower, a new 16-storey condominium project with a gross development value of RM390 million in June this year, as reported in New Sabah Times.

Located at Bundusan, Penampang, the project consists of 768 units of three blocks of condominiums and will also have three levels of car park for the residents within the curtilage of the property, said Kinsabina’s chief executive officer Datuk Francis Goh. The size of the units available are 1,000 sq ft priced from RM448,000 onwards and 1,200 sq ft priced from RM528,000 onwards; both comes with three bedrooms and two bathrooms along with upscale facilities.

The project will be boosted with a swimming pool, a children’s playground, badminton court, basketball court, courtyard garden and a pond with gazebo, said Goh. Riverside Residence has been proven to be a good investment with 60 percent of its units sold so far. The six- to eightstorey condominium consists of 134 units and comes with three bedrooms and two bathrooms.

Homebuyers have a choice to choose with

Kinsabina also developed the first of its kind, Casablanca Residence which is a gated and guarded community with 24-hour security at Kolombong road.

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The landed development comprises 92 units of two- and three-storey terrace houses as well as two units of two-storey semi-detached houses offering a spacious floor area of 2,293 sq ft to 2,842 sq ft.

type A offering a floor size of 955 sq ft priced from RM450,200 to RM503,200 and type B with a floor area of 1,175 to 1,180 sq ft priced from RM551,900 to RM598,900, he said.

And those with big families can opt for the type 2B and 3B with comes with five bedrooms and five bathrooms, he suggested.

Kinsabina is also building 1,200 units of affordable homes targeting first time homebuyers along Sulaman road, Tuaran under the Sabah Housing and Real Estate Developers Association-Ministry of Local Government and Housing scheme in line with the government’s home ownership campaign to help the medium income bracket from RM4,000 to RM6,000.

Every unit of the Timbok Jaya Apartment has a floor area of 879 sq ft with three bedrooms and two bathrooms, he said.

Each intermediate unit is sold from RM220,400 to RM250,000 with RM15,000 to an intermediate corner. The project is equipped with a clubhouse, sports, childcare and community facilities, a community hall and a surau. The first phase of 1A for 400 units has started.

Access Road to Ulu Layar to Be Completed Very Soon The long wait by about 5,000 residents of 19 longhouses in Ulu Layar in this district for a more comfortable ride to Betong town will finally be over when an access road is completed very soon, as reported in The BorneoPost online.

Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said the 23-kilometre road was being built at a cost of RM85 million.

He said a 20km-stretch of the road covering longhouses between Linsum and Ijok costing RM80 million would be completed at the end of this month, and the ministry had approved RM5 million to complete the missing link of 3km from Jalan Ijok to Jalan Munan.

“The completion of the access road will benefit the residents of the 19 longhouses,” he told reporters after visiting the construction site for Jalan Linsum-JelangLuing-Kerapa here on Sunday (April 17).

Other designs are the typical two-storey unit terrace house with four bedrooms and third bathrooms with a minimum land area of 1,694 sq ft while a typical three-storey unit terrace comprises five bedrooms and four bathrooms.

A two-storey terrace house price ranges from RM788,000 onwards while a three-storey is priced at RM973,000 onwards.

There is a two-storey clubhouse for the residents complete with a gymnasium, sauna, yoga deck, reading room, cafe, management office, multi-purpose hall and meeting rooms.

“All 94 units of Casablanca Residence come with readily available subdivided titles,” said Goh.

SW

“It will boost the economy in this area, as well as help generate more income for the residents as their agricultural products can be more easily taken to Betong town to be sold,” he said.

the completion of the road, their journey would now take just a mere three hours.

“I hope that with the completion of this road, development would be faster, improving the standard of living of the people here,” he said.

Also present were Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas, who is also the Barisan Nasional’s candidate for Bukit the Saban seat in the Sarawak state election on May 7 and Gerald Rentap Jabu, the BN’s candidate for the layer seat.

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Ismail Sabri said travelling time for the residents to go to Betong town would now be reduced.

He gave the example of the residents who used to take about six hours to travel from Kampung Munan to Betong by boat but with

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FEATURED EVENT

FEATURED EVENT

SABAH TRAVEL & PROPERTY MAGAZINE: THE FIRST CHINESE LANGUAGE PUBLICATION FOR THE CHINESE MARKET It was a wonderfully long and memorable weekend at Wisma Kinsabina as members of the media, distinguished and honourable guests were invited to the inaugural publication of Sabah Travel and Property Magazine, the first Sabah travel and property magazine fully targeted to the Chinese market.

By Property Hunter

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he ceremony was officiated by Assistant Minister of Tourism, Culture and Environment, YB Datuk Haji Kamarlin Hj Ombi on Monday, May 2nd. Happiness and prosperity could be felt as the harmonious sound of drums filled the air at Wisma Kinsabina. The launch kicked off with a carefully choreographed lion dance performance by the youths of SJK (C) Yick Nam. Sabah Travel and Property magazine CEO, Mr Elson Kho, explained that the birth of this magazine will benefit the Chinese tourists, especially on chartered flights from various cities in China, namely: Changsa, Guilin, Nanning, Xi’an, Zhengzhou and Fuzhou.

“Tourists coming in on these chartered flight will spend a good 3 hours reading the magazine before touching down in Sabah”, said Kho. The magazine will see its publication sitting comfortably in local tourism hotspots such as Starbucks, Coffee Bean, tourist information centres, selected hotel lounges and rooms and chartered flights.

He also added that Sabahans are generally proud of their culture, heritage and all things Sabah has to offer.

“It is our genuine hope that through the publication, we are able to showcase the best of Sabah to our Chinese speaking visitors”, he added.

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During his speech, the good Datuk Francis Goh reiterated that this is the first full Chinese magazine catered for the Chinese tourists. He also took the opportunity to introduce a new chartered airline, Borneo Airworld - an inbound tour company with 8 counter parts in China.

The aforesaid airline will see more than 100 flights from the 6 highlighted cities.

The magazine will soon be made available in the international arrival hall of Kota Kinabalu Airport (KKIA) for Chinese tourists coming in from a different flights. Being one of the partners of Borneo Airworld, Datuk Francis is more than eager to serve the Chinese market.

Datuk Haji Kamarlin said the outlook for global outbound travel in 2016 remains good, with growth expected to be higher and stronger in Asia. The tourism sector has transformed significantly over the past decade. The State of Sabah has seen its tourism sector grow tremendously during the peak months of January and February, alone. Records show

that there is a 65.6 percent increase for the Chinese tourists and a 19.5 percent increase for the Taiwanese tourists this year.

“We anticipated that the travel demands from China, Hong Kong and Taiwan markets will continue to show significant increase in the next few months as a result of the active promotion done by Sabah Tourism Board in China,” said Datuk Haji Kamarlin.

He also added that the publication of this magazine is timely. With Sabah becoming popular amongst the Chinese tourists, the magazine is believed to be the bridge in helping them to understand more about the State.

Also present at the inaugural ceremony were the recently appointed Mayor of Kota Kinabalu, YB Datuk Yeo Boon Hai, Sabah Association of Tour and Travel Agents chairman Dato’ Seri Winston Liaw, Datuk Gerald Goh, President of United Sabah Chinese Community Association (USCCA) Mr John Lim and Presidential Council Member of MCA and MCA Sabah’s State Advisor Datuk Paul Kong.

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From left to right: Mr Elson Kho, Kota Kinabalu city mayor YB Datuk Yeo Boon Hai, YB Datuk Haji Kamarlin Haji Ombi, Datuk Francis Goh and Mr Michael Hiew Vibrant lion dance performance

by SJK (C) Yick Nam Mr Elson Kho conducting his opening speech Distinguished guests at the ceremony

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NEWS

S P Setia Replenishes Development Sites in Australia

WM

The land is located at 308 Exhibition St, which is in the upper east-end of Melbourne’s central business district (CBD), on the corner of La Trobe St and Exhibition St. Given its proximity to a few education institutions such as Melbourne University and RMIT University, the project is believed to be popular among the student population.

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Maintain neutral with a higher target price (TP) of RM3.18: S P Setia Bhd has announced its acquisition of a 1.02-acre (0.414ha) piece of freehold land for a purchase consideration of A$101 million (RM302 million), as reported in The EdgeProperty.

The land was secured via a competitive bidding exercise from Telstra Corp Ltd, Australia’s leading telecommunications company. The land cost makes up 16% of the project’s gross development value (GDV) of A$640 million, which seems higher compared with S P Setia’s previous transactions of Parque Melbourne in St Kilda Road and Fulton Lane in 2010 and 2011 at around 10% of GDV.

According to RHB Research Institute, although the housing market in Australia is currently slowing down, S P Setia’s move to replenish its development sites in Australia looks promising. The company handed over the Fulton Lane project last year, and Parque Melbourne is now nearing completion. Given its existing platform in the Australia market and financial position, we think S P Setia would be able to ride through the slowing market over the next one to two years.

Media reports have recently highlighted that domestic banks are getting tighter in their lending to foreign house buyers, and there are also concerns of oversupply in the apartment segment, particularly in

EYE OPENER AT KLK LAND PROPERTY TALK The Property Talk organized by KLK Land (a subsidiary of KL-Kepong Berhad) in its Mutiara Damansara sales gallery has seen full house at its Property Gallery last Saturday, May 7. The two speakers invited to share their knowledge and advices are Adrian Un of SkyBridge International and Faizul Ridzuan of FAR Capital. Both concurred that there are a lot of opportunities in the current property market situation. “One needs to do his/her own research on the Developer’s background and look for the game changer in the location, such as the surrounding infrastructure, etc” said Adrian Un. Owning over 40 properties to date, Faizul shared his current strategy of buying from a reputable developer in a high growth area, investing long term and not to flip, and looking at surrounding connectivity and accessibility. “Landed property below RM700,000 in current market is a good buy and security is key” he added.

In the opening remarks by the Managing Director, Tan also shared with the audience on the development at Bandar Seri Coalfields.

The township has completed the town park and just received approval to set up its own Auxiliary Police team. The developer is also in the final stages of bringing in schools,

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the Brisbane and Melbourne CBD areas. Therefore, given the negative news flow, reports show the market would be “neutral” on this acquisition announcement.

Researchers said their forecasts unchanged, as the project can only be launched in late 2017. Given the incremental value in their revised net asset value (RNAV) estimate after the inclusion of Exhibition St land, and two other smaller parcels in Carnegie and Prahran, their TP is raised to RM3.18 (from RM3.10).

Meanwhile, the recent confirmation of Datuk Khor Chap Jen as president and chief executive officer, Datuk Wong Tuck Wai as deputy president and chief operating officer, and Choy Kah Yew as chief financial officer effective April 1 should clear market concerns over any leadership uncertainty. The key risks affecting our call and forecasts would be if the market climate/environment takes a turn for the worse, or if better-than-expected market conditions develop. expected to complete in 2018.

WM

including a Chinese school and an established private school into the township.

“We have handed over 1,200 units to date and brought in UNIFI high speed broadband into the township since December last year” said Tan. “With the current market sentiments and uncertainties, we think that it would be good for us to invite two of the property market renowned speakers to share their views and tips” he added.

The township is surrounded by NKVE, LATAR, NSW, West Coast Highway, proposed DASH and fronting the main Sungai Buloh- Kuala Selangor road. There are more infrastructure enhancement initiatives already in the planning to further improve the township” he added. The township of Bandar Seri Coalfields sits on one of KLK Land’s largest landbank of 6,500 acres that stretches towards City of Elmina and Rawang South.

“Being the latest – we will strive to be the best

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comprehensively planned township in Klang Valley.”

KLK Land is offering its latest 2&3-Storey Shop Offices, BSC Central 1, the very first phase of its Commercial Hub with main road frontage below RM1million and Ixora Residence’s final phase offering 22x75 2-Storey Terrace Homes starting from only RM630,000. The first 2 phases of Ixora Terraces with 114 units has recorded 80% sales. The final phase has seen 32% take up rate to date.

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Upcoming development, Parque Melbourne Crowd at the property talk

Liwagu River

Kinabalu Park Boundary

Kinabalu Park Approximate outline of proposed resort site in yellow

Royal Kinabalu Site

Prime Mount Kinabalu Resort Development Land For Sale Location of proposed resort site adjoining Kinabalu Park

Attention Developers and Investors!

A unique opportunity to develop a luxury eco-resort on 22.4 acres of cool pristine highland forest land located at the foothills of Mount Kinabalu. The land comes with fully approved development plan for a 192-room luxury resort and is on a CL title which can be owned by a non-Malaysian. The property borders directly on Kinabalu Park, the Liwagu river and the main road from Kota Kinabalu to Kundasang with an uninterrupted view of Mount Kinabalu. Kinabalu Park is a major tourist destination and the gateway to Mount Kinabalu.

Accommodation: 64 / 1-room Villas, 40 / 2-room Villas (with living room) , 48 Hotel Rooms, Executive and Staff Quarters

Facilities: Restaurant/Bar with Pool Deck, Health Spa Complex, Conference Room

Access from main road and ridge top location

Asking Price

USD 3.75 million For further information, kindly contact: Nasran Harun at +60188318282 or Kinabaluprop@gmail.com

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FATHER’S DAY SPECIAL

A DAUGHTER’S FIRST LOVE Every woman may not be queen to her husband but she is always a princess to her father. Mr. Chew Sang Hai and his daughter, Ms Fei Sean of Grand Merdeka, shares with us the strong bond they have for each other in this sweet exchange of letters for Father’s Day.

By Property Hunter Photos by All4One Production

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FATHER’S DAY SPECIAL

Dear Da Bao Bei, Every relationship has its up and downs and ours is no different. This journey of being your father and also working together has been one exhilarating ride.

Everyone is entitled to their choices and to pursue their own dreams. As a father, I can only set up a platform for you to follow your own path. Whatever you set your mind to do, I will always be proud of your achievements. But I am so glad that you chose to get into this business with me.

Although we sometimes have our disputes, I see it as a blessing in disguise.

I believe that by tackling the situations at hand has only strengthened our relationship. We usually settle it by coming to a compromise. Even though in the end, I usually call the shots, but I am amazed and proud of your natural talents and you even possess the maturity of some of my colleagues combined!

We have senseless respect towards each other and I still take your opinions into consideration. I have always seen a leadership character in you, which I know will help our family business grow even more significantly.

However, it’s always important to remember what I have always taught you. And that is to always be sincere and transparent in your dealings and interactions and that sometimes, it’s alright to be second best in anything.

Your easy going and friendly attitude have won you many friends at whichever juncture you go, and it’s something I wish I had when I was your age.

But also, be innovative, always strive to be different, because what differentiates people in this industry, is being from nobodies to somebodies.

You know that I had come from a poor background and most of my life, I have had to work very hard to be where I am today and to give you the things that I didn’t have growing up.

You still have a long way to go, but I can see a very bright future for you. Your sheer determination will take you very far into the horizon, somewhere I myself, might not be able to venture. You have made me very proud just by being yourself and I cannot have asked for a better daughter than you.

From Papa.

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Dear Papa, It’s been a very challenging yet rewarding experience working with you. But I am lucky knowing that there is always someone there to support and guide me. And who better to learn from than your own father?

I have been able to learn so much from you and your experiences. This has allowed me to grow further. Our understanding of each other’s strengths and weaknesses has made us better partners in work and in family.

Although it is difficult sometimes to separate the father-daughter relationship at the office, I’ve learned not to let my emotions get the better of me professionally. This I find solace from understanding that you are mentoring me in my career. Having a strong bond between us since I was young has always been the cornerstone of our relationship.

I had always wanted to be an entrepreneur, exploring other possibilities out there.

Gradually, you inspired me to get into the property business, because I saw lots of potential to succeed. Living up to your standard would always be my main challenge. But you will always be someone I look up to as a role model, an example for me to emulate. I will always try my best to make you proud!

One of the things that you’ve taught me in the property business is that there are no hard and fast rules and that has made me learn to be more equipped with information and to constantly be quick on my feet, to think outside the box, and to differentiate myself from others. This, I believe, has made me become more innovative and become more sensitive to the ever-changing demands of the market.

But the most important thing that I admire and have learned from you in this business is to be trustworthy and sincere. I can see that a sustainable business is built on a strong foundation of trust and sincerity. It goes the same outside of work, and I strive to apply it in my interactions with others and in my daily life.

Your words of wisdom and encouragement will always resonate with me. Back in 2010, when I had just returned from my studies in Canberra, I experienced a major culture shock. I was having a hard time adjusting to the living and working environment here in KK. I felt a major sense of loss of direction and purpose.

One day after work, you sat me down and shared with me your experience on getting your first job in KK. Coming from a poor family, you told me that in life, nothing comes easy. But we need to endure the challenges and that with every cloud, there is always a silver lining. You reminded me that I needed to reconcile with myself and to be strong when facing challenges. You also told me to have determination and although I know I have disappointed or even failed you in the past, you have never given up on me. Thank-you for always believing in me.

Happy Father’s Day, Papa.

From your Da Bao Bei. www.PropertyHunter.com.my

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PROPERTY SHOWCASE

GLENEAGLES: IN THE ARMS OF ONE WHO CARES Gleneagles Kota Kinabalu, a newly-built hospital that stands tall in the capital city of Sabah. The hospital offers a diverse range of healthcare and patient-care services from compassionate medical professionals. An off-shoot branch of Pantai Medical Centre Sdn Bhd under Parkway Pantai Limited, Gleneagles Kota Kinabalu incorporates the well-established Gleneagles brand with its facilities and highquality amenities. Leveraging cutting-edge technologies and a team of passionate and highly qualified staff, the hospital is committed to providing patients with the outstanding Gleneagles touch, in keeping with its tagline, “In the Arms of One Who Cares�.

By Gleneagles

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leneagles Kota Kinabalu is a multi-specialty tertiary hospital, equipped with state-of- the-art technology and designed to meet the Joint Commission International (JCI) and Malaysian Society for Quality in Health (MSQH) accreditation standards.

We also aim to be the new referral centre in East Malaysia and to target international patients from Indonesia, Brunei, Korea and Japan that seek quality and reliable medical care.

With a total capacity of 200 inpatient beds, 73 Medical Suites, 6 Operating Theatres, 15 Intensive Care Units, 7 Neonatal Intensive Care Units and 6 Labour & Delivery Suites, it is now possible at Gleneagles Kota Kinabalu for patients to receive quality health care, at competitive prices.

stones and biliary calculi. We are also the only hospital in Sabah to offer interventional radiology services and hepatobiliary surgery.

A new Centre for Bariatric and Metabolic Surgery is also offering screening, counselling and surgery for overweight or obese patients with Type 2 Diabetes Mellitus. Soon, the hospital will have a Centre for Neurology, providing treatment for diseases of the nervous system as well as neuro diagnostic tests.

Gleneagles Kota Kinabalu is supported by First Ambulance, a service that consists of Grade A ambulance, manned by ACLS trained paramedics. They are able to provide pre-hospital care and are available 24 hours, 7 days per week.

CENTRES OF EXCELLENCE Women And Children Care

Obstetrics & Gynaecology | Paediatrics | Paediatric Surgery | Paediatric Ophthalmology | Lactation Consultation | Breast & Endocrine Surgery | Neonatal ICU

Bone & Joint Care

Orthopaedic & Trauma Surgery | Spine Surgery | Rheumatology |

Gleneagles Kota Kinabalu’s extensive medical services is part of our “Centres of Excellence” which include Cardiac Care where we provide diagnostic and interventional procedures, Digestive Health Care, Bone & Joint Care, Women & Children Care and Urology Care which offers full urology services including the Extracorporeal Shock Wave Lithotripsy (ESWL), a non-invasive treatment of kidney

Gleneagles Kota Kinabalu is strategically located along the coastal highway of Kota Kinabalu, close to the heart of the city and is less than 10 kilometres away from Kota Kinabalu International Airport. The hospital neighbours with other notable landmarks such as the Sutera Harbour Golf & Country Club, KK Times Square, Imago Shopping Mall, the upcoming transport-interchange station, Wawasan Plaza, Harbour City and Ming Garden Hotel. Together, they will form the future – The new KK Southern City Hub.

Physiotherapy | Occupational Therapy

Emergency & Critical Care

24-hour Accident & Emergency Department | 24-hour Ambulance Service | ICU & Neonatal ICU | Intensivist

Cardiac Care

Cardiology | Interventional Cardiology | Cardiothoracic Surgery | Catheterization laboratory

Digestive Health Care

Gastroenterology | Endoscopy |Hepatobiliary Surgery

Eye Health Care

Ophthalmology | Paediatric Ophthalmology | Strabismus Surgery

Imaging Health Care

Interventional & Diagnostic | Radiology | MRI Scanner | CT Scanner | Digital Mammography | Bone Densitometry System | Fluoroscopy

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FEATURED EVENT

FEATURED EVENT

Casaview Sales Gallery Launch Cybersouth’s Property Gallery hosted the vibrant ‘Family Day’ themed event at its sales launch of CasaView on 7th and 8th May 2016. A strong crowd of over 1,000 members of the public were present. Family-friendly activities were held such as children’s trampoline, clown with balloons, wall climbing, DIY workshop corner and photobooth.

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2016. With practical layouts and a choice of 3 design types from 750 sq.ft. to 950 sq.ft., the selling price from RM100,000 will appeal to all. Registration is now open for RSKU application and the show unit is available for viewing.

MALAYSIA’S INTEGRATED DEVELOPER MCT Berhad (“MCT”) was successfully listed on the Main Market of Bursa Malaysia Securities Berhad on 6 April 2015 following the completion of a reverse takeover (“RTO”) exercise that saw GW Plastics Holdings Berhad being renamed as MCT Berhad. The new core businesses for the listed entity are divided into 3 key segments including property, construction and other related businesses. As an integrated property builder, the MCT Group of companies have been actively involved in property development since 1999.

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ollowing its successful launch, CasaView has achieved a total sales take-up rate of 70%. The 20’ x 70’ and 22’ x 75’ link homes of CasaView have favourable sales figures of 98% and 30% respectively. Limited units are available with the show unit now ready for public viewing.

CasaView offers practical and comfortable living spaces with spacious layouts for the whole family. The guardhouse ensures the safety and security of the neighbourhood. Residents can enjoy relaxing outdoor living with the 15 feet back lane as the ideal setting for a stroll along the shaded tree-lined walkways and landscaped gardens.

REGISTRATION OF INTEREST FOR TOWNHOUSE MCT is set to introduce the third phase of Cybersouth to the market very soon following the successful sales of Phase 1 and the positive response of Phase 2. The stylish and elegant townhouses feature built-up area from 1,100 sq.ft. and an indicative price from RM400,000.

Registration for the townhouse is now open and interested parties can register at www.cybersouth. my.

MCT completed its first project – USJ One Avenue in 2004 and launched its first integrated development – One City in 2011.

To date, MCT has successfully completed projects with total GDV of more than RM1.5 billion.

The projects in the pipeline include One City Phase 3, LakeFront Residences, LakeFront Villa and Cybersouth township.

For further information, please contact: MCT Gallery on +6019243 5071 or visit their website at www.cybersouth.my or Waze “Cybersouth Show Unit”.

RUMAH SELANGORKU (RSKU) OPEN FOR REGISTRATION In line with the Selangor government’s initiative to offer affordable homes to the Rakyat, Cybersouth will be launching the Rumah Selangorku homes in 2 3

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­­­Façade of Cybersouth’s CasaView Living and dining area of CasaView Potential investors keen on the project Part of the crowd at the sales launch

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SPECIAL EVENT

PH EXPO TAWAU YOUR PASSAGE TO THE LATEST PROPERTY DEVELOPMENTS The Cat City awaits you.

With a number of sales made in Sandakan in April, the Property Hunter team has once again successfully delivered a reputable expo.

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he 3-day event, which took place on May 13th - 15th, drew attention to many passionate local homebuyers and investors. The expo saw 22 developers showcasing more than 30 projects. With the subdued property market, the potential homebuyers showed more interest in projects in Sabah and Peninsula.

Amongst the local developers present at the expo were Wah Mie Group, Hap Seng Development Sdn Bhd, The W Group, Mah Sing Group, Pacific Sanctuary, Interland, Blu Waterfront Development Sdn Bhd, Cahaya Hartamas Sdn Bhd, New Kimanis Town, to name a few.

The team plans to continue delivering and creating awareness to the public on the latest properties in the local and international markets. Having finished touring 3 major cities in Sabah, the team will now make its way to Sarawak to share their property knowledge and spread the good news.

Next stop, The Cat City. PH Expo Kuching will hold its event at Boulevard Shopping Mall from July 20th - 22nd. Save the dates in your calendar! For more information about the expo and forthcoming expo destinations, please visit the PH Facebook Page and website at www.propertyhunter.com.my

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NEWS

Kg Sembulan Squatter Demolished

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Forty-two squatter houses in Kampung Sembulan have been demolished by City Hall on Tuesday (May 3rd), as reported in New Strait Times.

The recently appointed mayor Datuk Yeo Boon Hai said, during a ‘gotong royong’ session at the village last month, that they had received complaints from locals about the mushrooming illegal settlements in the area.

District police chief Assistant Commissioner M Chandra said the operation had also marked houses for future demolition.

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A brisk clean up [of rubbish] was carried out few days prior to the eviction and demolition.

For the safety, privacy and hygiene of the locals, such action should be carried out.

“After a discussion with Tanjung Aru assemblyman Datuk Edward Yong Oui Fah and the National Security Council, we have decided to demolish those premises.

Thinking “Inside” The Box

Earlier, police had arrested 135 people from the area during an operation, early Tuesday morning from 2am until 6am.

“We had issued a notice to them in advance for them to move out,” he said during the demolishing work this morning.

More than 500 personnel from City Hall, police, Immigration department, Fire and Rescue Department, Health Department and a utility company were involved in the operation.

The demolition of the squatter houses will be carried out progressively.

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Thanks to the constant innovation, there are many technologies and gadgets that can benefit our business. Undeniably, these technologies and gadgets can increase work efficiency and productivity; the ability to access information quickly and maintain constant communication at your fingertips is

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no longer a dream. The advantages are clear; despite long distances, more work can be done at a faster pace.

Glowbest Sdn Bhd is one of the earliest developers in Sabah to introduce the usage of 360° Camera and Virtual Reality (VR) Photo to liaise closely with our stakeholders.

Who doesn’t love seeing behind-the-scenes footage? It’s compelling to see how the products operate on a day-to-day basis.

360° Camera is able to capture an entire 360° space with a single shot. VR photo provides an immersive virtual reality experience that allow you to instantly publish your photo spheres to various platform, such as Google Maps and Facebook. This is far more effective and valuable when compared to traditional illustrations.

As Developers, these gadgets are not limited to marketing purposes. Progressive claims can be conveniently verified for effective financial planning. Relevant images can be

utilized for partner banks as well as clients.

A company of 27 years, Glowbest Sdn Bhd has built a reputation rooted in reliability and accountability, producing quality properties that has continuously thrived in the local market. The usage of innovative technologies such as the ones described above is part of their continuous effort to interact closely with clients and other stakeholders.

Glowbest Sdn Bhd’s CEO added, “we have to be at the forefront of innovation, not for the sake of personal satisfaction, but for the sake of maintaining the company competitiveness”.

To experience this technology in action, visit their officer in Ocrhard Plaza (Tenom) to learn more about our latest development.

Melbourne Sets to Double Stamp Duty for Property Purchase From July 1 Victoria state to double stamp duty on overseas buyers and land tax for absentee home owners will treble to 1.5 percent. The Australian state of Victoria will more than double a property tax for foreign buyers in a move that may undermine surging home prices in the nation’s second-largest city reported by Bloomberg.

The stamp duty surcharge will increase to 7 percent from 3 percent and will apply to contracts signed on or after July 1, according to a statement Friday from state Treasurer Tim Pallas. The state government said it will also increase a land surcharge on absentee owners to 1.5 percent from 0.5 percent.

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“It’s only fair that foreign buyers of residential real estate, who enjoy the capital growth as a result of Victoria’s livability and the amenity of our cities, contribute to the maintenance of government services and infrastructure,” Pallas said in a statement. Foreign buyers don’t pay other taxes such as payroll and the goods and services tax, known as GST.

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dwelling values surged 36 percent, only trailing Sydney. Overseas buyers, including Chinese investors, have supported demand in Australia’s largest cities.

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Melbourne home values rose 9.8 percent in the past year, according to data from research firm CoreLogic Inc. Since capital city home values troughed in May 2012, Melbourne

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Kampung Sembulan squatter Google Cardboard Melbourne, Australia

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FEATURED EVENT

MAKE ROOM FOR A PROMISING HOME IN BANDAR UTAMA, PETALING JAYA, SELANGOR Step into Bandar Utama, a freehold enclave with unparalleled space, home to international businesses, a multitude of lifestyle conveniences, and some of the most sought-after residences, including 9 BUKIT UTAMA and THE EFFINGHAM.

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FEATURED EVENT

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BANDAR UTAMA’S LATEST DEVELOPMENTS 9 BUKIT UTAMA, a condominium development encompassing a vast 7.5 acres surrounded by beautiful settings and resort-like environment, offers spacious residential units ranging from 2,286 sqft to 4,719 sqft. This upmarket “Build-then-Sell” development is targeted at families, investors, professionals, and MM2H candidates. The generous living spaces are perfect homes for big families who enjoy personal privacy and solitude within a home; or for the dynamic young couples ready to take on the world in a big way and in big style.

THE LOCATION The award-winning Bandar Utama Township, a location envied by many and a sanctuary for the privileged few, is located on a prime freehold land within Petaling Jaya, Selangor.

Bandar Utama prides itself to be a modern

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township with green concepts, located within lush landscapes and open parks, yet in close proximity to some of the best conveniences in Klang Valley.

Located across 9 Bukit Utama is THE EFFINGHAM, stylish and stately Zero-Lot Bungalows spreading across 32 acres of land within the affluent neighborhood of Bandar Utama. Comprising a total of 212 exclusive homes when completed, unit sizes measure between 5,654 sqft and 12,713 sqft. Also a “Build-then-Sell” development, The Effingham is targeted at high income professionals, families, and entrepreneurs; situated within a gated and guarded enclave. With a serene and picturesque environment offering nothing less than the best in urban living, The Effingham is a prestigious symbol of success, affluence and premier living standards.

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Lead Page • Night View of Bandar Utama Township

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9 Bukit Utama Exterior

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The Effingham Living Hall The Effingham Dry Kitchen 9 Bukit Utama Master Bathroom 9 Bukit Utama Study Room

PRIVATE PROPERTY SHOWCASE IN KK 9 Bukit Utama and The Effingham Date : 25th – 26th June 2016 Time : 10am – 5pm Venue : Meeting Room 6, The Magellan Sutera,

Sutera Harbour Resort, Kota Kinabalu 5

ABOUT THE DEVELOPER

The developer is offering attractive promotions to interested buyers such as:• Legal fees for SPA and Loan Agreement borne by developer • Complimentary 2-years Family Sports Membership at The Club @ Bukit Utama • In-housemortgage loan up to 90% • and more (Terms and Conditions apply)

BANDAR UTAMA DEVELOPMENT SDN BHD is a leading property developer in Malaysia, also one of the pioneering developers who heed the government’s call for more “Build-then-Sell” developments as advocated by the Ministry of Housing and Local Government.

Apart from residential developments, among the company’s other numerous accomplishments are 1 Utama Shopping Centre – recognized by Forbes and CNN Travel as the world’s 4th largest mall; luxurious 5-star One World Hotel – one of Petaling Jaya’s first 5-star hotels; First City University College – formerly known as KBU International College; The Club @ Bukit Utama – fully equipped fitness club which also houses a 9-hole golf course; as well as several commercial building spaces leased to corporate clients such as IBM, KPMG, Sri Pentas, etc.

For a first-hand experience of Bandar Utama’s properties, contact

+603-7729 8363 or +6016-339 6168 More details are also available at

www.bukit-utama.com.my / www.the-effingham.com

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HOT TOPIC

KINSABINA’S ANTICIPATION TO BE ON BURSA’S LISTING Sabah’s developer, Kinsabina Group, plans to go public and raise around RM400 million by the end of 2017. Its CEO, Datuk Francis Goh said that Kinsabina will list through Skim Jejak Jaya Bumiputera (SJJB).

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aunched by Prime Minister Datuk Seri Najib Razak in September 2013, SJJB jointly managed by Bumiputera Agenda Steering Unit (Teraju) and Ekuinas Nasional Bhd - is part of the Bumiputera economic empowerment agenda.

They were formed to provide comprehensive advisory support and to focus on building capacity to Bumiputera-controlled companies with potential for listing.

Inclusive of this are the creation of a plan for improving the sustainability of the business via organic and in-organic growth, identifying the access to funds and improving governance process.

The objective is to increase the market capitalisation of the companies to roughly RM7 billion to RM10 billion during the period.

Until August last year, 11 companies were listed on Bursa through the scheme. Their combined market capitalisation stood at RM5.5 billion, compared with RM1.93 billion in their first initial listing.

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Two companies in particular, Prestariang Bhd and Datasonic Group Bhd, have hit the RM1 billion mark in terms of market capitalisation.

To name a few, the other listed companies under SJJB are Handal Resources Bhd, Theta Edge Bhd, Cypark Resources Bhd, Malaysian Genormics Resources Centre, Century Software Bhd, Barakah Offshore Petroleum Bhd, Carimin Petroleum Bhd, EA Technique (M) Bhd and Sedania Innovator Bhd.

than RM1 billion in Kota Kinabalu over the next three months. It will launch Triconic Tower, a 16-storey condominium some time this month. In July, Kinsabina will launch Titanum Technology Park in Penampang, an industrial warehouse development The third launch will see the tourism project called Aman Pesona beach villa in Sabandar Beach. Kinsabina will also launch Royal Kinabalu Mountain Resort, a five star property worth RM100 million.

Goh expects Kinsabina’s market capitalisation to increase to RM3 billion from its current RM1 billion threshold.

“We have approached SJJB and plan to appoint advisers soon. We plan to raise around RM400 million for expansion in all segments of the property market. We are very bullish on prospects. We are qualified to list based on our track record and performance. Kinsabina aims to double its revenue to RM1.2 billion this year. We are also targeting net margin of 20 per cent or RM240 million”, he said.

Kinsabina is launching projects worth more

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Wisma Kinsabina Datuk Francis Goh (Photo by Louis Pang)

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FEATURED EVENT

NEW KIDS ON THE BLOCK, BIG BATH OPENS 8TH STORE It was a memorable and exciting day for the Big Bath family as they ventured and expanded their brand to Sabah. The official opening, which took place on Sunday, May 15, saw an abundance of visitors and avid buyers at the store.

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he grand opening was officiated by YB Datuk Teo Chee Kang, Ministry of Special Tasks Sabah by signing the Big Bath Sabah Signatory Plaque. The company’s directors, Mr and Mrs Mun, Shane Mun, Edmund Mun and Conan Teo also received good fortune flags for good luck.

The showroom launch kicked off with none other than the traditional vibrant lion dance arrangement brought to us by SJK (c) Yik Nam followed by 2 firecracker numbers.

Big Bath is a one-stop bathroom and kitchen industry, established in the late 1970’s. As the years progressed, the directors of Big Bath decided to bring more variety and convenience to the public. This marks Big Bath’s 8th store in Malaysia, having open stores in Kuala Lumpur, Kepong, Balakong, Puchong, Penang, Johor and Ipoh.

“People usually buy their bathroom and kitchen items and designs internationally.

So as a team we thought it would be a good idea to open a branch here in KK to change the trend and market”, said Shane Mun, Director of Big Bath.

He also added that after spending 2 years in Kota Kinabalu, with its first store in Damai, they have decided to move to a bigger

spaced unit because of its good response from their customers. The team has decided to convert a factory lot into a showroom for their products, creating free spaces for local designers to showcase their products as well renting their 10,000 square feet exhibition hall space for any means of event.

“I personally want to share this concept; ‘Everyone can start small’. It took us around 80 days to build up this showroom from scratch. If I’m not mistaken, we officially started on March 8”, Mun explained.

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A big box concept has been implemented to create a more convenient method for developers and designers for a more compact way of traveling for roadshows.

“We create a container box with everything from aircon to furniture inside. It costs about RM8,000 - RM10,000 to rent this container but the convenience of having everything inside a box is a new concept that we are trying to introduce to developers”, said Mun. For more information about Big Bath Sabah, call their Sabah branch at +6088-428 329 or email them at sales@bigbath.com.my.

Or alternatively, please visit their website at www.bigbath.com.my

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Grand opening of Big Bath (Sabah) YB Datuk Teo Chee Kang signing the signatory plaque (L-R): General Manager, Conan Teo and Director, Shane Mun www.PropertyHunter.com.my

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NEWS

Infrastructure to Enhance the Land-Rich State of Sarawak

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The Sarawak property market will see an increase in property pricing due to many factors such as progress in the construction industry, Sarawak Corridor for Renewable Energy as well as other projects simultaneously taking place to enhance the land-rich state, as reported in The Starproperty.my.

with private sector investments. The 167 infrastructure contracts approved in 2013 were worth RM4.22bil, or about 27% of the industry that year, in addition to 67 approved social amenity projects worth RM1.37bil.

According to Oxford Business Group in a recent report, the construction industry has seen a significant increase in activities over a five-year period, between 2009 and 2013 where the yearly value of completed projects had risen from RM4.88bil to RM8.04bil, according to data acquired from the Department of Statistics Malaysia (DOSM).

Construction in Sarawak differs from the national construction trend. Instead of relying on the private sector for funds, funding in this state is split evenly between public and privately funded projects. Of the RM1.9bil of construction carried out in Sarawak, in Q3 2014, some RM929.55bil was spent on public civil engineering projects as compared to RM899.68mil spent on residential as well as nonresidential construction, according to DOSM. This trend looks to continue as 476 new construction developments approved in 2013 resulted in RM15.28bil as well as one project in excess of RM1bil as reported by the Construction Industry Development Board (CIBD). Later in the first half of 2014, an additional of 110 projects of RM2.03bil were approved.

Oxford Business Group also reported that Sarawak’s largest driver of construction at present is the Sarawak Corridor for Renewable Energy (Score). This development is a mammoth project having employed a large army of construction workers to build new townships and manufacturing centres.

Many large projects are on-going, for example environmental-friendly building practices. The creation of new townships virtually overnight has given planners the opportunity to incorporate “green building” components into construction at the earliest stages.

One example is the boom town of Samalaju, built to support the industrial node developing at the site, which is pursuing the well-regarded Leadership in Energy and Environmental Design (LEED) certification devised by the US Green Building Council.

Samalaju will itself being the first “greencertified” township in Malaysia if the LEED certification is achieved and approved of.

As such standards gradually catch on, a new wave of more efficient structures could take their place alongside the state’s first greencertified building: the headquarters of Menara Sarawak Energy in Kuching, which earned a silver rating under the Green Building Index (GBI) in July 2013.

The GBI, a system unique to Malaysia, rates buildings as silver, gold or platinum based on six criteria: energy efficiency, indoor environmental quality, sustainable site planning and management, material and resources, water efficiency, and innovation.

Construction on Sarawak’s second green building, a new branch of the capital’s Kuching North City Hall, was initiated in March 2014. A component of the city’s “clean, beautiful, safe” campaign launched in 2013, in which the city incorporates energy-efficient technology into new municipal offices, the building is to be completed by this June.

While the facility is not targeting official GBI certification, it will include a wide array of green features such as LED lighting and use of natural light. As of mid-2014, three of Malaysia’s 29 GBI-certified buildings were in Sarawak.

These figures were roughly on par with allocations in 2012, when 81 infrastructure and 62 amenity contracts were approved, worth RM3.09bil and RM567.8mil respectively.

In the first half of 2014, a total of 37 infrastructure contracts worth RM1.17bil and 13 social amenity builds worth RM132.3mil were approved.

Among the big-ticket contracts currently dominating the sector are upgrades to a large portion of the Trans-Borneo Highway. Work on the state’s primary land route has been stepped up in recent years, with RM500mil allocated for improvements in 2014, including additional lanes in some sections.

This figure shot up in 2015 when the Federal Government announced it was accelerating work on the 1,663 km under its purview (936 km in Sarawak and 727 km in Sabah) at a total cost of RM27bil.

Both local and national construction companies are expected to bid for a slice of the project in 2015, including Hock Seng Lee, IJM Corporation, WCT Holdings, Bina Puri Holdings, TRC Synergy, Naim Holdings and KKB Engineering.

The 2015 budget also allocated RM943mil to build and upgrade 635 km of rural roads in East Malaysia, while dozens of contracts are being tendered for hundreds of kilometers of new and upgraded roads to support Score.

The Malaysian government has been pumping billions of ringgit into infrastructure projects to provide an extensive and stable utility network, as well as an efficient and modern transport system.

A huge amount of outlays from both federal and state agencies in recent years to install the infrastructure for the massive Score project have been a boon to the construction industry, and have included several bigticket contracts for multibillion-ringgit projects.

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Kuching City Centre

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HOT TOPIC

MALAYSIA REMAINS ONE OF THE MOST ATTRACTIVE COUNTRIES FOR LONG-TERM INFRASTRUCTURE INVESTMENT Arcadis Report finds strong economic performance and an increase in government investment infrastructure appeal

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HOT TOPIC Malaysia remains the second most attractive country for infrastructure investment in Asia and is now in fifth place globally in the third edition of the Global Infrastructure Investment Index, according to Arcadis, the leading global design and consultancy firm. The report highlights the most dynamic and attractive markets for infrastructure investment worldwide.

Malaysia’s strong economic performance and continued longterm investment in infrastructure have made the market attractive for private/inward investment. The government’s 11th Malaysia Plan, published in May 2015, emphasised the importance of infrastructure in achieving Malaysia’s transformation into a fully developed nation by 2020. The plan sets out a continued focus on the strengthening of enabling infrastructure to boost productivity and support economic expansion. Major projects to be completed by 2020 include the Klang Valley MRT Line, the 2,000km pan Borneo Highway and the West Coast Expressway. Completed

projects include 93,000km of new roads, increasing the road network by 68%, while investment in urban rail saw a 32% increase.

Experience from other countries indicates that, in the race to achieve the 2020 goals, a key challenge faced by Malaysia will be to ensure that the quality and sustainability of the new infrastructure are not compromised. Also, in the short term, investment is threatened by a number of risks, including its currency depreciation against the dollar and a high-profile corruption scandal that has delayed some projects.

Neighbouring Singapore retained its position as the world’s most attractive market for infrastructure investment, with its stable political situation, secure business environment and strong growth potential.

lower score for economic factors, it maintains a strong overall economic environment. Whilst most projects have traditionally been publicly funded, Singapore is seeking to develop involvement from private institutional investors.

Work is underway in the city-state to improve understanding of infrastructure as an asset class to make it more attractive to investors, part of which includes the development of new benchmarking tools.

By comparison, in terms of economic scores, China ranks first among the 41 countries analysed, yet its less attractive business conditions and higher risk environment keep it ranked at number 17 in the index.

Singapore ranked consistently highly across business, risk, infrastructure and financial indicators, and despite a slightly

THE TOP TEN MOST ATTRACTIVE COUNTRIES FOR LONG-TERM INFRASTRUCTURE INVESTMENT IN 2016 ARE: RANK

COUNTRY

CHANGE FROM 2014

2014

2012

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Singapore

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1

1

2

Qatar

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2

2

3

UAE

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3

4

4

Canada

=

4

3

5

Malaysia

+2

7

7

6

Norway

=

5

6

7

Sweden

-2

5

5

8

USA

=

9

11

9

UK

+1

10

13

10

Netherlands

+1

11

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Graham Kean, Head of Client Solutions at Arcadis Asia, said: “The index gives us valuable insights into how long-term political and economic stability leads to greater investment, so it is no surprise that Malaysia and Singapore remain at the top of the table. In the region as a whole, there is clearly a lot of social and public need for new infrastructure. There are a whole host of project ideas and plans out there, but they are not investible or bankable enough, which is the basic problem. The key to unlocking investments in the region hinges on making the projects bankable, an area which we have been supporting.”

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Kean added: “We have already seen Asia-based investors taking positions globally as infrastructure becomes an increasingly popular asset class for private sector investors, particularly in times of increased risk and uncertainty. Income streams are relatively more stable and will be around for 30 years or more, the sort of timeframe some investors are increasingly drawn to. Short-term impacts can also create investment opportunities, such as a change of government or currency devaluation, and these need to be weighed with the underpinning long-term situation.”

THE RANKINGS FOR ASIA PACIFIC COUNTRIES

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1

MALAYSIA

JAPAN

KOREA

INDIA

PHILIPPINES

APAC Ranking 2016:5 2014:7

APAC Ranking 2016:12 2014:15

APAC Ranking 2016:20 2014:21

APAC Ranking 2016:23 2014:23

APAC Ranking 2016:28 2014:29

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6

8

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SINGAPORE

AUSTRALIA

CHINA

INDONESIA

THAILAND

APAC Ranking 2016:1 2014:1

APAC Ranking 2016:11 2014:9

APAC Ranking 2016:17 2014:17

APAC Ranking 2016:21 2014:23

APAC Ranking 2016:25 2014:20

3

5

7

9

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NEWS

Ice-Cold Cocktails at the ICE Gallery

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More than 100 guests followed IJM LAND’s invitation to experience an intimate cocktail session in a unique setting at Pantai Sentral Park’s ICE Gallery on Friday, April 22nd. The evening aimed to convey an image of the values of Pantai Sentral Park to the audience, focusing on the things that make life worth living in harmony with nature.

or short ICE, came from a natural flow of spaces which has been converted into seemingly organic model displays and sculptures. He described the concept behind the gallery as “a multifunctional set-up whose flowing spaces create a beautiful backdrop for events of any kind that will leave a memorable and lasting impression on the visitors”.

JAttendees of the event were welcomed by emcee Maggy Wang who opened the night with an introduction highlighting the distinct location and unique selling features of Pantai Sentral Park, or PSP. The new township in the centre of the New Golden Triangle in Klang Valley is also known as Kuala Lumpur’s One and Only Urban Forest City, a name the project truly lives up to thanks to its proximity to a 200-acre forest park that future residents of PSP will be able to use for their recreation and the township’s concept of bringing the community and nature closer together. A short video was also shown outlining more of PSP’s key features like its connectivity to the New Pantai Expressway, pedestrian focussed amenities such as commercial precincts within short walking distances and a Waterfront Park, and PSP’s first two residential phases called Inwood and Secoya Residences.

The team of Pantai Sentral Park invited professional mixologist and 42 Below Cocktail World Cup 2008 Champion Joshua Ivanovic to pamper the sophisticated taste buds of the selected clientele with his premium cocktail creations. Not only did he play his part behind the bar in serving colourful drinks, he also made the stage his own in order to talk about his journey of becoming a world class bartender who worked for acclaimed cocktail bars like Milk and Honey or Mahiki in London. Entertainment and educational purposes met when Ivanovic demonstrated his craft to the eyes of the curious audience who may have caught a trick or two they can put to good use at their next cocktail party at home. The master mixologist, representing Cocktail-Solutions and Pernod Ricard Malaysia, understood well how to engage the spectators into his presentation and did not hesitate to answer arising questions.

Senior General Manager of IJM LAND Berhad, Mr. Hoo Kim See, took the stage to talk about the vision behind Pantai Sentral Park and the architectural uniqueness of the ICE Gallery. The inspiration for the IJM Land Centre of Exhibition,

who wanted to know more about the future development of PSP or the architecture of the gallery. Once finished, Pantai Sentral Park will comprise 13 phases divided into commercial and residential areas that will spread over an area of about 58 acres. Property in the first two residential phases Inwood and Secoya is highly sought after and all those interested in investing should not wait much longer.

For more information please visit www. pantaisentralpark.com.

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Invigorated by tasty canapés and cool drinks, all guests were invited to explore the premises of the ICE Gallery. Helpful Pantai Sentral Park staff provided advice and assistance to everyone

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Dubai Launches First Flight in Its World’s ONLY 7-Star Airport As part of the Emirate’s Expo 2020 plan, the newly built VIP Terminal at Dubai South’s Aviation District marked the beginning of operations with its first flight departure, as reported in Newfoxy.

According to reports, the inaugural flight was a private jet carrying 13 passengers to the Maldives.

The terminal will be the gateway for Expo 2020,

which is expected to attract 25 million visitors, with VIPs, business and government travelers amongst them.

ambiance and excellent service. The stage is now set for robust growth in Dubai’s luxury travel sector.”

The 5,600 m2 stand-alone terminal, which will operate 24 hours a day, 7 days a week, is located midway between Dubai and Abu Dhabi.

The launch of operations at the VIP Terminal is a significant step towards realising Dubai’s vision as the aviation capital of the world.

Equipped with the finest luxurious interiors, the terminal will feature top-of-the-range facilities and lounges, as well as exclusive services for VIP guests.

“Dubai South’s Aviation District is well equipped with world-class infrastructure and facilities to support business aviation and the VIP Terminal will not only serve to bridge a definite gap in the market but will also redefine standards of success in the aviation industry, worldwide.”

Khalifa Al Zaffin, executive chairman of Dubai Aviation City Corporation (DACC), said: “The flight is an important milestone for Dubai South and for Dubai’s aviation industry as a whole.

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“It brings into operation a truly beautiful facility that sets new benchmarks in terms of luxurious 1.

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Organic and natural shapes characterise the interior design of the ICE Gallery All those interested could get a deeper insight into the development of Pantai Sentral Park World’s first 7-star airport now open in Dubai

EXCLUSIVE REPORT

Luxury Issue Drive German, wear Italian, drink Scotch and kiss French. Luxury is in each detail where quality attracts quality.

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SPECIAL FEATURE

Understanding the

AFFLUENT Home Lifestyle

THE CRÈME DE LA CRÈME OF GREAT COMFORT AND LIVING. FROM THE COLLECTIVE INSIGHTS AND KNOW-HOWS, WE HAVE FASHIONED A SNAPSHOT OF LUXURY HOME BUYER PREFERENCES. WHAT THE WORLD’S WEALTHY CONSIDER THE MOST DESIRABLE FEATURES, AMENITIES, AND STYLES IN LUXURY PROPERTY ARE ALWAYS EVOLVING.

By Property Hunter

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DEFINITIONS OF LUXURY TODAY...

What qualifies as “luxury” in the residential property sector differs greatly from market to market, both in terms of price and traits of a home. Much like beauty, luxury differs from each observer. Often elusive, sometimes overused and overrated, but always out of the ordinary, “luxury” means different things to different people. In its eclectic sense, luxury connotes quality, refinement, and exclusivity.

But in the exclusive world of prime real estate, its definition also encompasses changing lifestyles, shifting economic hubs, the need for greater privacy, and environmental concerns.

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LUXURY IS… MORE THAN JUST LOCATION, LOCATION, LOCATION Conventionally prominent addresses and valued postcodes are no longer the outlining baseline notion for luxury homes. High Net Worth Individuals (HNWIs) are expanding the rims of traditional luxury milieus and are keen to pay a premium in emerging luxury areas if the facilities and lifestyle offerings are right. The development of high-end commercial real estate is also driving this phenomenon.

LUXURY IS… CONSCIOUS LIVING Owning a home that doesn’t negatively impact the community - and one that can even bring positive meaning - is attractive to wealthy buyers. The demand for more viable and hale and hearty environments has placed greater importance on knowing where and how products

type of tourism increases, some prestige real estate markets, particularly those in resort destinations, are seeing increasing demand for luxury homes with spaces that have the flexibility to adapt to generational diversity and entertaining requirements.

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are manufactured and has driven a movement towards conscious living.

Affluent buyers today are progressively looking for closeness to a lively community rich with cultural attributes and outdoor activities.

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LUXURY IS… EXPERIENTIAL Today’s new wealthy consumers are more informed, more globally exposed, and more sophisticated than previous generations. Baby boomers, in particular, are now “less materialistic and more experiential,” noted Cognizant in a luxury retail trend study. The worlds of highvalue art, education, travel, luxury goods, and architecture are colliding. This shift toward experiential luxury is similarly reflected in the amenity and lifestyle preferences of HNW home buyers.

LUXURY IS… CONVENIENCE The revival of urban downtown cores in many major cities and changing age dynamics are having a noteworthy impact on the home-buying preferences of the world’s most well-off. As millennials grow up and baby boomers transition into life as empty nesters, many larger cities are witnessing an increase of upscale older buyers to urban areas. Residents of suburban areas are also increasingly seeing a preference for urban amenities.

LUXURY IS… AGE-AGNOSTIC Multigenerational travel (trips involving at least three generations) was dubbed the biggest trend for 2014 by a luxury travel industry report. As growth in this

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LUXURY IS… ULTIMATE PRIVACY The age of the smartphone and its extensive social-media feeds has brought an increasing inclination for privacy, particularly for high-profile and celebrity buyers of luxury homes. A key facet of many of today’s highest-end listings is ultimate privacy and seclusion.

LUXURY IS… COLLECTIBLE NOVELTY Trophy real estate is the ultimate collectible treasure. Like buying a high-valued artwork, trophy residences can cook up the passions of ultra-highnet-worth individuals (UHNWI). Many developers of ultra-luxury properties have solid collectible concepts right into their noses with limited-edition structures and one-off creations by highly regarded international architects and designers.

LUXURY IS… TURNKEY-READY Many homebuyers are willing to pay a premium for the convenience of a “just bring your toothbrush” property, fitted with fine odds and ends that boost a luxury lifestyle. Brokers reported an increased interest in brand new residences, with buyers happily paying a premium for security, concierge, and other luxury amenities.

LUXURY IS… A BLANK CANVAS At the other end of the spectrum, some enthusiastic buyers are pushing the desire for newness to new heights. Impeded by a lack of quality inventory, more and more ultra-affluent buyers wish to build their own trophy homes from scratch.

LUXURY IS… UNDERSTATED Luxury is no longer about audacious displays of wealth. Instead, scaled-back, quality-over-quantity luxury will continue to be one of the key creeds behind many stature property acquisitions. Luxury buyers aim to be more discreet and less pretentious.

Source: luxurydefined.christierealestate.com

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SPECIAL FEATURE

Benefits of investing in

Luxury Property

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FREEDOM & PRIVACY Buying your own home allows you the freedom to make changes, updates and improvements as you wish, creating an environment you’re proud to call home.

MORE SPACE Many buyers these days are looking to bunk up their square footage.

Thankfully, the luxury real estates in Malaysia offers a number of options ranging from condo units to singlefamily homes that offer the same amount of space as a home you’d find in the suburbs. Many even offer outdoor space, plus your own laundry, storage, bigger rooms, gym, and much more!

HIGHER INVESTMENT VALUE This is probably the most important reason to invest in a luxury real estate property. As properties are an asset that rises in value at every instant, at the same time, they are a “performing asset”, which means that they serve a practical purpose even as they gain in value. Moreover, luxury homes

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First of all, we should define what a luxury property is since luxury is quite a subjective term.

Remember that a high price tag does not mean that you are buying a high-end property.

However, we can determine some features that characterize a luxury property. A luxury property must be unique and exclusive, regardless of its reasons. It must also offer something especially desirable so that people are ready to pay a higher amount of money premium for it.

This can be due to its design, location, amenities, privacy, security… You name it.

have always shown high demand, so we can tell that this kind of real estate properties is a great investment opportunity that guarantees multiplied returns in the future.

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SPECIFIC NICHE MARKET Luxury properties will always be in high demand. It is not for everyone, but it is for a specific niche market, targeted at wealthy profiles such as high-profile businessmen, corporate executives, industrialists and those who are unlikely to be impacted by the economic and market changes. That is the reason why luxury properties still remain in high demand despite the economic crisis.

INTERNATIONAL INVESTMENT Luxury properties are a great chance for international investment and getting revenues and advantages that you won’t be able to find in the domestic market. One can always find and invest in exotic locations where you won’t have to pay annual property taxes or capital gains taxes on transferred properties.

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THE BOTTOM LINE Investing in luxury real estate can be more exciting than investing in securities, from building a custom home to flipping a mansion to buying a vacation property. You can enjoy your luxury home as a resident, as a traveler or as a landlord. However, before you buy, make sure you understand the features that create lasting value in this asset class to get the best return on your investment.

Source: www.investopedia.com

MALAYSIA THE REST OF THE WORLD VERSUS

It is important to understand what features mark a luxury property before making an investment because a hefty price tag alone would not put a property in this category. It has to be deemed unique and exclusive, in a good and desirable way. People who are wealthy will pay a premium for something that is perceived to be superior.

High-end buyers want access to luxury activities like high-end shopping, dining, and the arts, as well as proximity to other luxury homes. A trophy address, like Park Avenue in New York City, adds value. Many luxury buyers seek the natural beauty of a waterfront location, or at least views of a river, ocean or lake. Others want homes in the quiet countryside or scenic mountainside views.

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They want privacy and security, sometimes to the point of seclusion.

They want beauty inside and out, and can afford custom architecture, custom design, over-the-top attention to detail and opulent finishes.

They also want amenities on top of amenities: a chef’s kitchen, luxury pool, expansive master suite and outdoor living space, not to mention home automation, motion detectors, car lifts and temperature-controlled wine cellars.

They also want space.

In Malibu, California, for example, the average luxury home has more than 4,000 square feet, and a $6 million-plus (≈RM24 million) price tag.

In markets where prices are generally lower, a shy sum of as little as half a million dollars (≈RM2 million) is needed to own a piece of luxury real estate. However, one will need at least $1 million (≈RM4 million) to buy a luxury property in most major cities (in the USA), and the entry price point increases according to the cost of living standards; it is $3 million (≈RM12 million) in San Francisco, $5 million (≈RM20 million) in Los Angeles and New York, and $7 million (≈RM28 million) in London.

To name a few luxury residences around the world, Clermont Residence, Singapore’s tallest building, designed by architects who also conceived the Burj Khalifa and One World Trade Centre in New York comes at a price from as low as S$1,932,480 (≈RM6 million). Bella Vista Luxury Villa in Mallorca, Spain sits at $10.6 million (≈RM40 million).

A private residence in Laguna Beach, California comes in at a jaw-dropping $45 million (RM181 million). And yes, it is a private residential estate!

Like most buyers, high-end buyers too have the preference of wanting many of the same features that all buyers want, but on a grander scale.

Whilst luxury properties worldwide focus more on attention to details, opulent finishing and almost maximal privacy, luxury properties in Malaysia defers from this. Take 1 Tanjong Beachfront Luxury Condominium,

Penang, as an example. This property development puts its focus on delivering in smart security systems, 2 covered carparks, 24-hour security and CCTV, huge infinity pool, fun jet whirlpool, children’s playground, gymnasium, tennis court, billiard room, badminton court, sauna, multi-purpose hall, tropical garden, gazebo, BBQ area, viewing deck, outdoor sun-deck, visitor’s carpark, fibre optics for fast Internet connections, Wi-Fi and Internet access coverage in specific areas. This private bay of peace and tranquility comes in at a price from RM2,950,000.

The Ritz-Carlton Residences in Kuala Lumpur, however, is in a completely different league of its own. Built to sophistication and exclusivity, the brand is no stranger to the silk-stocking, upper class population. With its convenience to shopping malls, business and entertainment centres and transportation expedience, it almost mimics the lifestyle of those in Fifth Avenue, New York. Blessed and pampered with 24-hour concierge service, prestige entrance drop-off, grand residential lobby, card access to dedicated floors, video intercom system, housekeeping services, luxurious custom-made kitchen cabinet, amongst others, this development is your key to living a lavish lifestyle. With a price tag from RM3 million (RM2, 579 psf), The Ritz-Carlton is poised to be the Upper East Side of Malaysia.

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PROPERTY SHOWCASE

A LOCATION WORTHY OF ONLY THE EXTRAORDINARY Savour cosmopolitan living in supreme splendor with stunning views of the city skyline at Anggun Residences.

Fronting the renowned The Row (formerly know as Asian Heritage Row of Kuala Lumpur), Anggun Residences is poised for strong capital appreciation potential in a location that is rich in history and cultural diversity.

The heart and soul of KL City, the area is a hot-spot for an astounding array of fashionable leisure and entertainment establishments, set against a backdrop of majestic pre-war buildings. Access to and from Anggun Residences is remarkably easy with immediate access from Jalan Sultan Ismail which is a main route within the central business district of Kuala Lumpur, and the AKLEH expressway for fast and smooth trips to KLCC, Mont’ Kiara, Bangsar and Petaling Jaya.

Hassle-free trips in and around the city can be made with ease via the Medan Tuanku Monorail and Dang Wangi LRT stations which are a mere 5-minute walk from Anggun Residences.

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SPECIAL FEATURE

LUXURY CONDOS AROUND THE WORLD

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Offering the very best of amenities that money can buy, from infinity pools, personalized yoga studios, and private Jacuzzis to glamorous dance floors, roof gardens and million-dollar views of a legendary landmark, here are 10 of the world’s most expensive condos around the world. Get ready to swoon!

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56 Leonard, New York (US$47 million)

The Clermont Residence Super Penthouse, Singapore (US$47 million)

A New York landmark, the 5,200 sq. ft. large 56 Leonard is almost entirely made of cantilevered glass, with floor-to-ceiling windows and a lap pool and is expected to be completed this year. A masterpiece

by Herzog & de Meuron, the 56 Leonard is basically a vertical glass expression of sculpted surfaces, nestled amidst the romantic and storied streets of Tribeca.

Somewhere closer to home, the Clermont Residence Super Penthouse features a sprawling 21,108 sq. ft. living space with a roof garden that offers a sweeping view of Singapore’s gorgeous skyline. This threestory penthouse is also the tallest residence in Singapore. Located at Tanjong Pagar, the Clermont signifies an unwavering commitment to craftsmanship and an unrelenting focus on genuine luxury.

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For the rich and oft-famous, nothing spells the good life more than owning a luxury condo overlooking an iconic landmark and calling a piece of resplendent abode your home. Decked with tasteful interiors and unique architectures, luxury condos are the hallmark of great wealth and achievement.

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The Opus Apartment Penthouse, Hong Kong (US$60 million)

The South Bank Tower Penthouse, London (US$90 million)

By far the most expensive apartments in Asia, the Opus Apartment Penthouse offers a 5,409 sq. ft. living space that has a private pool on each floor. Planned and designed by the architecture maestro, Frank Gehry, who created the Walt Disney Concert Hall; each unit on the Opus takes up a whole floor. It also features a private 1,508 square foot rooftop, complete with a Jacuzzi.

This 5,200 sq. ft. beauty is one of the most lusted-after addresses in the UK, situated on the River Thames and offering the most breathtaking London view overlooking the London Eye. One of the latest luxury condos on the market, the South bank Tower Penthouse was only recently completed in 2015.

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Park Avenue Penthouse, New York (US$95 million)

CitySpire Penthouse, New York (US$100 million)

This 13,550 sq. ft. iconic living space comes with heated bathroom floors, which are perfect for those chilly winter nights. It also features an amazing outdoor terrace that can hold up to 300 guests at a time.

The Park Avenue is only the second tallest residential building in New York after the CitySpire Penthouse.

Being the tallest terraced residence in the United States, nothing inspires like the CitySpire. Each unit of the 8,000 sq. ft. penthouse has an exclusive internal elevator and a 20-guest dining room. The CitySpire Penthouse also comes with an additional staff apartment on the 72nd floor of the building and a 1000-bottle wine cellar.

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One 57 Winter Garden Penthouse, New York (US$115 million)

Penthouse at the Pierre Hotel, New York (US$125 million)

Another deluxe address in New York, the 13,550 sq. ft. penthouse caters for the modern spiritualists with its in-house yoga studio. The penthouse also comes with a pet grooming room for your lucky furry friend! In the weekends, disco the night away at the penthouse ballroom that hosts up to 200 guests at a time. This palatial penthouse in Manhattan’s newest luxury midtown high-rise will have floor-to-ceiling windows overlooking Central Park.

With an area of 12,000 sq. ft., each penthouse at the Pierre Hotel is equipped with four adjoining terraces, as well as luxury suites for both the guests and staff. Got plenty of chores? Fret not as each penthouse comes with two maid service staff, making everything easy breezy and convenient! Situated on the famous Fifth Avenue, this penthouse occupies the 41st, 42nd, and 43rd floors of the Upper East Side hotel and has 16 rooms, six bathrooms and five fireplaces beneath 23-foot ceilings.

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The Hyde Park Penthouse, London (US$237 million)

The Sky Penthouse in the Odeon Tower, Monaco (US$400 million)

This 17,000 sq. ft. penthouse comes with a golf simulator for those who wish to tee off from up above. Worry about your golf ball smashing the window? Don’t be. Each window in the penthouse is made of bulletproof glass. In case you’re worried about security, you will also be happy to know that the building is patrolled by Special Forces Guards for maximum security.

With a sprawling 30,000 sq. ft. interior, the Sky Penthouse is the where to stay for those with really deep pockets. Each penthouse is equipped with a dance floor where party guests can shake it! It also comes with an in-house caterer and a 24-hour concierge service. Want to make a splash? Just jump into the infinity pool or slide down the water slide.

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PROPERTY SHOWCASE

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This Special Feature is brought to you by

Log-on to www.PropertyHunter.com.my/luxury for more exclusive reports and news on property

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Developers Offer Creative Loan Packages to Entice Home Buyers Developers are offering creative financing packages to attract potential home buyers, given the sluggish property market and the stringent criteria of banks in granting housing loans, as reported in PropertyGuru.com.my “The market was still flat in the first quarter, with some developers delaying their launches.

They are trying to move whatever stock that is still available, and we have seen Sunway Group, IOI Properties Group Bhd, Kuala Lumpur Kepong Bhd and others coming with very creative financing packages,” said Foo Gee Jen, Managing Director of CH Williams Talhar & Wong Sdn Bhd (WTW).

“Definitely, we see that trend coming to circumvent the fact that loans are getting tougher to get. So developers are actually offering a so-called olive branch to all these people.”

For instance, Sunway is providing loan packages covering up to 88 percent of a property’s value for those who will buy a home and sign the sale & purchase agreement from 29 March to 30 September. However, this is

only available to individuals who cannot obtain a mortgage from banks.

For those who cannot afford to pay the down payment for a home outright, IOI Properties is offering a deferred payment scheme, whereby clients can pay it over 18 to 24 months.

Meanwhile, Tropicana Corp Bhd recently unveiled its ‘Just Bid It!’ campaign, wherein customers can place a bid on a property their keen to purchase, but the developer will set a minimum price on the unit.

“Some developers are indirectly also giving discounts, in many other forms. That is the only way to push the unsold stock that’s available,” he noted.

Prime Minister Datuk Seri Najib Tun Razak said this initiative required a lot of money, but it was all for and by the people of Sarawak.

Those who stand to benefit from its huge impact include rural folk, Class F contractors, and consultants. It also generates a lot of jobs for the local community, he said.

“This is the game changer because it will bring rural folk closer to the urban areas, which means demand for their products will change.

“Besides cutting short travel time between Sibu and Kuching from six hours presently to three hours in the future, the road will generate economy for the rural people.

“Hopefully, it will also change the mindset of local people when they see for themselves the

As such, the situation in the housing sector is unlikely to improve in Q2 2016 and the entire year is expected to be flat due to the soft job market and other uncertainties, he added.

Nevertheless, developers with good products and good track records will still be able to generate sales, but the overall real estate sector will continue to be in the doldrums, with some home builders unlikely to achieve their sales targets for 2016.

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developments that come with it,” he said before launching Package 4 of the project at the former Durin ferry site in Kong Yit Khim Road in Sibu, on Sunday (April 17).

“If in Serian, most of the contracts are awarded to the local Bidayuhs. Today, most of the contracts will be awarded to Class F contractors from the Iban community.

Najib added that he did not want the Pan Borneo Highway to be like other mega projects, such as the Bakun Hydroelectric Dam, where the locals only see hanging cables but get no electricity in their longhouses.

“For other places, we will also give the contracts to the local community so that when they see the highway, they will feel they are part of it.

Bakun, he pointed out, was done during the tenure of the “prime minister who held the post for 22 years”.

“That is another story. Today, we are talking about Pan Borneo Highway. Please do not repeat the mistake done with the Bakun project.

Do not give contracts to those who cannot deliver. We give contracts to locals who are capable.

“We must make sure its spin-off take into account the wishes of the local community.”

Najib said 78 local Bumiputera companies would be awarded contracts for Package 4, costing RM1.7 billion. The overall cost of the whole project is RM16 billion.

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“There are a lot of industries now pulling back and voluntary separation schemes (VSSs) are coming. Tesco just announced some retrenchment and streamlining of their staff and so forth. I think you can see that coming, which definitely will put a lot of pressure on the property market.

According to Foo, these companies are resorting to these marketing techniques to assist buyers and entice them in light of the weak market conditions.

Pan Borneo a ‘Game Changer’ - Najib The Pan Borneo Highway project is a “game changer” as the costly 1,089km project stretching from Telok Melano in Lundu to Lawas in Limbang will benefit a lot of people, reported The Borneo Post.

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Package 4 covers a 76km stretch from Bintangor junction in Meradong District to Sungai Kua in Selangau District.

“They will have a sense of ownership, knowing that the project is not for big contractors only. It is for Sarawakians, and Sarawakians will reap its benefits.”

Present at the event were Chief Minister Datuk Patinggi Tan Sri Adenan Satem, Works Minister Datuk Seri Fadillah Yusof, Minister of Infrastructure Development and Communications Dato Sri Michael Manyin, Minister of Local Government and Community Development Dato Sri Wong Soon Koh, Minister in the Prime Minister’s Department Datuk Joseph Entulu, and State Secretary Tan Sri Datuk Amar Mohd Morshidi Abdul Ghani.

Najib and Adenan later presented land compensation totalling RM9 million to land owners affected by the project.

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Developers are offering creative financing packages to attract potential home buyers Pan Borneo Highway planned route. www.PropertyHunter.com.my

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DRIVE

A NEW ‘DAWN’ HAS ARRIVED THE NEW ROLLS ROYCE’S UNCOMPROMISED DROPHEAD LUXURY

Quite simply, it is the sexiest Rolls-Royce ever built; promising a striking, seductive encounter and a new age of open-top, superluxury motoring. It will be the most social of super-luxury drophead motor cars for those who wish to bathe in the sunlight of the world’s most exclusive social hotspots. A rare, refined and the most social super-luxury car there is.

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DRIVE

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T

he name ‘Dawn’ perfectly suggests the fresh opportunities that every new day holds – an awakening, an opening up of one’s senses and a burst of sunshine. In its tentative, inchoate, anticipatory state, dawn is the world coming to light from the ethereal dark of the night.

INTRODUCTION

possible”, Torsten Mueller-Oetvoes, Chief Executive Officer of Rolls-Royce Motor Cars The first part of this maxim, “Strive for perfection in everything you do”, guides the company’s every action particularly during the creation of a new motor car.

The second, “Take the best that exists and make it better”, has been clearly evidenced in the success of both Phantom Series II and Ghost Series II. The third maxim, “When it does not exist, design it”, came into the picture when Rolls-Royce thought that it was time for an authentic gentleman’s Gran Turismo to return to the world stage.

“

Compromise is not a word recognised in the Rolls-Royce lexicon. The company continues to live by the clarion cry of cofounder Sir Henry Royce to “Strive for perfection in everything you do. Take the best that exists and make it better. When it does not exist, design it. Accept nothing nearly right or good enough.”

…Accept nothing nearly right or good enough.

“The Rolls-Royce Dawn will itself prove to be the muse that leads its owner to believe that at the start of the day, anything is

Now, the final part of this maxim has guided the Rolls-Royce design and engineering teams as they have worked to initiate a new age for open-top, superluxury motoring. In a sector exclusively populated by the biggest of automotive compromises, the 2+2 seat configuration, Rolls-Royce has chosen to “accept nothing nearly right or good enough.”

Rolls-Royce’s new Dawn has taken inspiration from the Silver Dawn, whilst delivering a world first in super-luxury motoring – a cool, contemporary interpretation of what a super-luxury fourseater convertible motor car should be. It is safe to say that the new Rolls-Royce Dawn is the quietest open top car ever made.

EXTERIOR DESIGN The Rolls-Royce Dawn maintains timeless Rolls-Royce design principles – 2:1 wheel height to body height, a long bonnet, short front overhang, a long rear overhang, an elegant tapering rear graphic and a high shoulder line. All this tradition is delivered in a beautifully thorough contemporary design.

When viewing the Rolls-Royce Dawn in side profile, one’s eye is instantly drawn to the elegant profile of the car. The soft top shape is completely harmonious and homogenous without the ugly concave areas or sharp struts seen in other manufacturers’ soft tops. Roof down, the sexiness of the Rolls-Royce Dawn is even more apparent.

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DRIVE DRIVE

INTERIOR DESIGN

The first impression upon entering Dawn is of the four separate bucket seats set in the midst of a sumptuous and sartorial slingshot of wood and leather. The slingshot concept runs from the driver’s A-post towards the rear of the car, around the rear seats before returning to the passenger A-Pillar.

Rolls-Royce’s unique coach doors come into their own in a drophead format.

It offers four very individual, cosseting seats providing comfort wherever you sit. The seats have been designed to help emphasise the energetic, yet elegant intent and sense of purpose of the car, complemented by an intersecting full length centre console.

Evocative of the classic sports car profile, they add considerably to the easy entry and egress of rear passengers from Dawn’s luxurious embrace.

ENGINEERING & TECHNOLOGY The Silent Ballet Without question, the engineering highlight of the new Rolls-Royce Dawn is the new roof. To be a true Rolls-Royce, Dawn had to deliver the hushed driving experience associated with all RollsRoyces. At the same time the only choice

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for a Rolls-Royce was a fabric roof for reasons of aesthetics, romance and brand appropriateness.

Working with a fabric roof configuration, the Rolls-Royce engineering team set themselves a challenging goal which they were unwilling to compromise on – to make the quietest convertible car in the world today. This quest for silence applied to all aspects of the engineering of the new roof and by extension the new motor car.

Firstly, the design of the roof had to be graceful, beautiful and sensuous whilst remaining one of the largest canopies to grace a convertible car. The way the canopy wraps around the rear seats and down over the window tops play an important role.

Secondly, the actual opening and closing of the roof mechanism had to be both beautiful and unobtrusive at the same time. And a Silent Ballet is what they achieved.

Operating in complete silence in just 22 seconds, and at cruising speeds of up to 50km/h this ‘Silent Ballet’ engages the majority of one’s senses as silence and seclusion are exchanged for the sounds,

light and aromas of the outside world.

Bespoke Audio For those not so worried about silence and more interested in sharing music and entertainment with their friends, Rolls-Royce’s Bespoke Audio system has been specially calibrated for the unique configuration of the Rolls-Royce Dawn.

Finely tuned by expert Rolls-Royce audio engineers, Bespoke Audio is the most exhaustively designed automotive hi-fi system ever developed and has been minutely calibrated to compensate for the dual personality of Dawn.

The Heart Of The Rolls-Royce Dawn Driving Experience The beating heart and soul of any RollsRoyce motor car is the beloved twinturbo 6.6-litre V12 powertrain. With a power output of 563bhp or 420kW @ 5,250rpm and a torque rating of 780Nm or 575 lb ft @ 1,500rpm, Dawn’s driving experience is exceptional.

The new Dawn is Rolls-Royce’s most powerful full four-seater drophead, thanks to its advanced engineering, making it lighter and more fuel efficient. Dawn’s typical steering characteristics provide superb driver feedback, ensuring that the car is effortless but precise to drive.

From Dusk ‘Til Dawn – Illuminating Technology Shows The Way The most recent developments in LED lighting technology have also been applied to the RollsRoyce Dawn. The way this light is managed is significantly enhanced by adaptive technology.

In addition, automatic dipping of full-beam headlights has been replaced with revolutionary new glare-free technology. When a car approaches, light is deflected to ensure the oncoming driver is not dazzled. Dawn drivers therefore enjoy the safety benefits of constant full-beam visibility.

Night-time driving safety is boosted by the head-up display and heat detection system that detects both human and animal heat signatures, and issues an audible warning to the driver of possible danger.

TECHNICAL SPECIFICATIONS

Dimensions

Performance

Vehicle length

: 5285mm / 17.34ft

Top speed

Vehicle width

: 1947mm / 6.39ft

Acceleration 0 - 100km/h : 4.9sec²

Vehicle height (unladen)

: 1502mm / 4.93ft

Wheelbase

: 3112mm / 10.21ft

Turning circle

: 12.7m / 41.7ft

Urban

: 21.4ltr / 100km / 13.2mpg (Imp.)

Boot Volume (DIN)

: 244ltr - 295ltr / 8.6 ft3 - 10.4 ft3

Extra urban

: 9.8ltr / 100km / 28.8mpg (Imp.)

Combined consumption

: 14.2ltr / 100km / 19.9mpg (Imp.)

Weight Unladen Weight (DIN)

: 250kmh / 155mph (governed)

Fuel Consumption

/ range : 2560kg / 5644lb

Engine

CO2 emissions

: 330g/km

** These figures are subject to final verification

Engine / cylinders / valves : V / 12 / 48 Fuel management

: Direct injection

Power output @

:563bhp / 420kW / 570PS @ 5250rpm

engine speed Max torque @ engine speed : 780Nm / 575lb ft @ 1500rpm Fuel type

: 10:1 / Premium unleaded1 www.PropertyHunter.com.my

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FURNISH

LAROSE GUYON

Shining Light Through Style and Romance The two designers behind Larose Guyon have created their own world haloed in poetry, romance, elegance and beauty.

Since the launch of their objects collection in November 2015, Audrée L. Larose and Félix Guyon of Larose Guyon, have ramped up their creativity and are now offering three new sculptural lighting fixtures. For Larose Guyon, creating a new fixture is not only about style but about the light itself. During the creative process, the magic and warmth that create light and shadow are, for them, as important as the object itself. Larose Guyon’s lighting fixtures are as attractive as the atmosphere they create.

A Seductive Design

The Rest is History

Based in Verchères, on the outskirts of Montreal, Larose Guyon matches the use of choice materials with a great formal purity to create high-end, original, distinctive items; meticulously crafted down to its finest detail.

In 2014, Audrée L. Larose and Félix Guyon’s paths finally crossed.

For the two designers, staying local is very important. Chiefly in a will to give work to local craftsmen, but also in the hope of being able to offer a design that people from here can be proud of, all production and assembly is 100% made in Quebec.

After progressing for many years on the parallel fields of environmental design and industrial design, today they are two designers in love.

By combining both complementary visions, Larose Guyon provides simple, elegant, functional objects. Through a romantic aesthetics of items of blatant luxury, haloed in warmth and humility, they infect daily life with poetry and beauty. As their approach is imbued with refinement and distinction, they get their inspiration from nature, art, past aeons and traditions.

Branded with their love, Larose Guyon products are created, drawn and crafted objects cast in their image with the help of local artisans and their know-how.

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La Belle Époque For their first collection, they got their inspiration from what many see as an era evoking a somewhat romantic take on a world in the midst of a unique technical and cultural revolution. At the dawn of the 20th century, Paris, centre of the world, had its skies sheared and its guts spilt, making room for a new century where innovation would be complicit to man. The subtle marriage of lace and steel was progress made flesh in all its glory, and its ‘’Expositions Universelles’’ were kicking off a whole new page in modern

history. The La Belle Époque collection, like a soft nostalgia, revisits the elegance and chic of the late 19th century, when machine, in all its strength and might, also knew how to speak in a soft and poetic voice.

In this first collection, we find mirrors, chandeliers, wine bottle wall mounts, a decorative bowl, a recipe book stand and, soon, luminaires. Audrée revealed that they had wanted to try their hand with daily objects on a small scale at first, and that the long

creative process naturally set the tone to their lighting fixtures.

Every object and lighting fixtures is inspired by a notable character from that pivotal time in contemporary history. Sources of inspirations were the likes of famous writer Victor Hugo, painter Henri Rousseau, restaurateur Auguste Escoffier as well as Cléo de Mérode, an actress of rare beauty, and plenty of other characters.

Technical Challenges Simplicity often hides dire technical challenges, and as for this first collection, challenges have been great indeed. All objects, lighting fixtures and furniture are assembled without using any solder. Each piece’s shape is a masterpiece of ingenuity and comes from a long and deep reflection on how to achieve a result where matter dances in an unprecedented ballet of elegance and purity. “From an initially cold and even dirty material we cut a raw diamond and created sheer jewels.” illustrates Félix.

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BECOME THE MUSIC WITH KEF M500 OUR PICK

ARMIN STROM TOURBILLION SKELETON EARTH Tourbillon Skeleton is a new timepiece specially designed to highlight its technical prowess. With the constant rotation of the tourbillon, owners will observe the animation of the double going barrel while the watch is wound. The Armin Strom Tourbillon Skeleton Collection will be produced in the brand’s signature elements of Fire (18k rose gold), Water (stainless steel), Air (titanium) and Earth (black PVD coated stainless steel). www.arminstrom.com/en

Light, robust and supremely comfortable, the M500 Hi-Fi Headphones are designed for people who are serious about sound. The M500s make high fidelity sound truly portable.

They use a full-range 40mm neodymium driver with a high quality copper-clad aluminium wire voice coil that’s been expertly tuned by KEF’s acoustic engineers to deliver a powerful musical sound with tight, clean bass. Elegant and distinctive, the M500 has been carefully engineered in aluminium to assure maximum comfort, ideal for prolonged listening. With a sweat resistant, durable and breathable memory foam earpad and headbag along the Smart Hinge, the M500 folds and rotates easily to adapt to different sized (and shaped) heads better than any of their rivals. It is designed to work with most smartphones, computers and other mobile devices, and features an integrated in-line remote control on a tangle-free flat cable. The in-line remote allows you to switch easily and quickly between calls and music. www.kef.com

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GADGET & WATCH

Empowerment of technology State of the art technology: an expansive view of innovation

PHANTOM 4, DJI’S SMARTEST FLYING CAMERA Are you ready for the Phantom 4? Well, here it is. DJI’s latest quad is the first camera-toting drone to make use of “highly advanced computer vision and sensing technology,” meaning even beginners will feel like seasoned vets while flying. Moreover, with its included ‘follow me’ mode, obstacle avoidance, and tap-to-fly features, the Phantom 4 is undoubtedly the smartest quadcopter DJI has ever released.

This creative collaboration comes via two newly added features: ActiveTrack and TapFly. This is the feature filmmakers and photographers should be salivating over. Additionally, while flying, the Phantom 4 also makes use of its brand-new Obstacle Sensing System, which allows it to send and avoid any obstructions around it. Unparalleled technology, indeed, and a release which should only continue to pad DJI’s comfortable edge on its competition. www.digitaltrends.com

EXPRESS YOUR CREATIVITY WITH CANON POWERSHOT G5X Canon’s new PowerShot G5 X, its latest addition to the PowerShot G series line of premium digital compact cameras, is designed for focused composition and full visibility under challenging lighting conditions. The new model is equipped with a built-in EVF for brilliant image and colour reproduction and a large one inch 20.2 megapixel CMOS sensor that renders higher sensitivity for superior image quality. The ergonomics of the user interface has also been thoughtfully designed for a photographer’s ease of use. The PowerShot G5 X uses a 24-100mm (35mm equivalent) 4.2x optical zoom lens, which provides a good range of coverage in varied shooting scenarios.

This versatile range covers wide-angle shots for group photography, in enclosed spaces and even telephoto range to get closer to distant subjects. The PowerShot G5 X is also equipped with features such as 1080p Full HD video recording (at 24p and up to 60p in MP4 format), movie editing functions, story highlights, and short clip movie feature. The camera also comes with Wi-Fi and NFC connectivity which functions well with the Canon Camera Connect app which allows users to remotely control camera functions through an app. www.canon.co.uk

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HOT TOPIC

INVESTING FOR YOUR CHILD’S FUTURE As a parent, you would want to provide the best things in life for your child that money can buy. Often, this would mean saving up and / or setting up a tertiary education plan for your child. As the cost of education soars, it is wise to know your best options when it comes to investing for your child’s future. When it comes to when, it’s never too early to start saving up for your kids. Some parents even start as early as when their child is three months old!

When it comes to saving money, the earlier is always the better.

By Property Hunter

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Here are some ways to get you started in scuring your kid’s future:

1

Set up a Junior Savings Account The easiest way to start setting aside money for your kid’s future is by opening a junior savings account, which usually offers higher interest rates than the regular savings account. You can start by putting aside RM100 every month and let the interest accumulate over time.

Some of these savings accounts also offer cash rewards for good performance in public exams -- which is a good incentive to teach kids about hardwork and savings.

2

Buy an Education Plan A popular option for today’s parents is purchasing an education policy from insurance companies, such as Prudential, AIA, etc. Not only does the education plan provide a tax-effective way to save up and finance your child’s higher education, it often also includes insurance coverage. On top of that, these education policies also opens up opportunity for you to invest in various investment-linked funds based on your risk appetite and tolerance.

3

Invest in Unit Trust Funds Another type of investment you can consider is the equity or balanced equity unit trust funds that offer at least 10% in returns as savings for your children’s higher education. These funds can be monitored online as your risk tolerance and circumstances change throughout your investment period. You can start investing in specific education funds, such as Amanah Saham Nasional Berhad’s Amanah Saham Didik that offers an annual dividend of 6%. There are also various fund management companies, such as Public Mutual that has specific education planning programs for you to choose from.

4

Refinance Your Home If you have a piece of property that has been paid off, or the mortgage has been paid off significantly, you can also consider refinancing your home. Refinancing your property will liquidize it for your child’s university fund. A caveat, this option largely depends on your financial situation and capability to continue paying off the mortgage. This option is not ideal for those with low to moderate risk tolerance.

While you work hard to save and invest for your kids’ future, let’s also not forget to teach them to save money themselves. It can be as simple as saving up their ang pows during Chinese New Year or saving their allowance for something they really want, like a doll or a fire engine toy truck. This will incorporate the virtue of temperance, which will help them go a long way in the future. Good luck!

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EPF Plans to Double Property Investment

Malaysia’s US$178 billion pension fund plans to double its real estate assets in the next few years as it seeks to diversify its holdings that are mostly invested in bonds and stocks, reported The Business Times.

The Employees Provident Fund (EPF), whose property investments include 11-12 St James Square and the Battersea Power Station project in London, is now looking at buying more assets in continental Europe, chief executive officer Datuk Shahril Ridza Ridzuan said in an interview in Kuala Lumpur Tuesday (April 12).

EPF manages the retirement savings of more than 13 million people.

“Our real estate exposure is very small, less than 4 per cent, at this point in time,” Shahril said.

“It’s the fastest growing part of our business.

The goal is for private market assets to take about 10 per cent of the total fund size in five to seven years.”

BK

The MSCI World Real Estate Index has gained 4.2 per cent this year, compared with the 0.9 per cent drop in the measure tracking the world’s developed markets.

1

EPF joins sovereign wealth funds looking to raise their global real estate investments. Oslobased Norges Bank Investment Management, the world’s biggest wealth fund, aims to invest 50 billion kroner (S$8.2 billion) each year in properties while GIC Ltd, the manager of more than US$100 billion of Singapore’s reserves, wants to focus on larger, deeper markets and “gateway cities.”

The Malaysian fund’s foreign real estate and infrastructure investments have grown by an average of more than 50 per cent per annum, according to its 2014 annual report.

Since 2009, it’s been investing in property as a hedge against inflation. With 51 per cent of its investment assets in fixed income instruments and 42 per cent in equities as of Dec 2014, EPF’s returns are influenced by interest rates and inflation movements.

Incentive From MyDeposit Scheme

The Government’s initiative has been a positive sign for the developers to build more affordable properties.

Not only has the First House Deposit Financing (MyDeposit) scheme received overwhelming public response, it has also encouraged more developers to venture into the affordable housing market, as reported in TheEdgeProperty.

National Housing Department directorgeneral Mohamad Yusoff Ghazali announced before that the MyDeposit scheme, which was launched on April 6, had received 1,046 applications within a week.

Under the MyDeposit scheme, first-time homebuyers with a household income of between RM3,000 and RM10,000 will be given a contribution of 10% from the sale price or a maximum of RM30,000 (whichever is lower) for homes priced below RM500,000.

In the face of a market slowdown, more

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EPF has 26 per cent assets tied up in overseas investments and is “comfortable” with that level, Shahril said.

The fund collects more than RM3 billion on average every month from its members, who can opt to make a compulsory monthly contribution of 8 per cent or 11 per cent while employers add another 12 per cent.

Membership is mandatory for working Malaysian citizens, or non-Malaysian citizens who are permanent residents.

WM

property developers have been looking to build housing units that are below RM500,000.

2

The Kuala Lumpur-based fund reported RM44.2 billion (S$15.45 billion) of gross income from investments last year, 13 per cent more than it earned in 2014, helped mainly by its strategy to invest in multiple asset classes globally, according to a Feb 20 statement.

EPF paid out RM38.24 billion to its members, equivalent to a 6.4 per cent dividend rate, for 2015.

According to Ekovest Bhd managing director Datuk Seri Lim Keng Cheng, the company was targeting to kick start its affordable housing project based in Setapak this year and the MyDeposit scheme was very encouraging.

He also urged the Government to reconsider the Developer Interest-Bearing Scheme (DIBS) for the first-time home buyers.

IJM Land managing director Edward Chong said young purchasers buying properties below RM500,000 were strongly encouraged to make good use of the scheme and apply for this financial assistance.

Beside the Government’s initiative, IJM had aimed to facilitate the buying process through its Free Stay@No Pay campaign, added Chong when attending the StarProperty.my Fair 2016 Premium Partners Announcement Ceremony on Thursday (April 28).

The event was officiated by Star Media Group chief operating officer Calvin Kan. Also present were chief revenue officer Lim Bee Leng and StarProperty.my assistant general manager K.C.Tan. IJM Land and Ekovest Bhd will be joining most upcoming StarProperty.my fairs this year as the premium partner.

“StarProperty.my is the right partner for us because it is a good integrated property consumer platform that provides property information to the readers and the market,” said Chong.

Lim pointed out that The Star had an influential presence among professionals and young readers, especially with the introduction of Internet subscription and online presence.

The upcoming fairs will be held at Johor Baru City Square (July 22-24), Nu Sentral (Aug 15-21), Sunway Putra Mall (Aug 26-28), Publika Mall (Sept 26-Oct 2) and Kuala Lumpur Conven-tion Centre (Nov 18-20).

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Datuk Shahril Ridza Ridzuan (From left): Bee Leng, Chong, Kan, Keng Cheng and Tan at the StarProperty.my Fair 2016 Premium Partners Announcement Ceremony

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HOT TOPIC

SPA

Understanding the Sales and Purchase Agreement It is quite normal for someone to feel anxious to sign the Letter of Offer and Letter of Acceptance while purchasing a property, notwithstanding the vendor or the purchaser. This insecurity is usually mitigated once something formal like the Sale and Purchase Agreement (SPA) is signed. It is crucial to understand every detail in the SPA because you are bound by whatever you sign. SPA is the main contract governing both parties and there are things that you need to fulfil like setting out the details of the agreed purchase price, condition precedents, the payment manner, the details of the property, loan, the manner of delivery of vacant possession and any other arrangement in this buy-sell event.

By Chris Tan, managing partner of Chur Associates

A

prudent buyer will always make a conscious effort to view and inspect the property that will form the main cast of the SPA before committing to buy a property. This is no different from purchasing directly from developers, where potential buyers can get a visual idea of the interested property by viewing its showroom.

Nevertheless, don’t expect your unit to look exactly like the showroom. The beautifully decorated showroom is nothing more than an example for you to get a sensibility of the sale unit. It has the same function as the scale model of the whole development which is usually a visual attraction in the middle of the sales gallery. Thus, if specifications like the ceiling height, fixtures and fittings, parking, building materials are of concern, it should be specifically highlighted in the SPA. This is applicable unless you are purchasing from secondary market.

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Important things to know about SPA There is no such thing as a standard SPA as the spirit of an agreement is to set out the terms that is mutually agreed by the parties. This is good news for homebuyers in Peninsular Malaysia as this is where the lawmakers have laid down the SPA terms for Developers to adopt in the Housing Development (Control and Licensing) Regulation 1989 (“Regulation”). However, this benefit is not only exclusive to Peninsular.

Sabah also has a set of similar rules to the regulation that applies exclusively, which is the Housing Development (Control and Licensing) Rules 2008 (“Rules”). Developers may only amend the stipulated SPA if they are offering better terms, i.e. shorter delivery for ‘vacant possession period’ or ‘longer defect liability period’. Although this set of SPA is only applicable when one buys residential property from developers, it also serves as a good guideline for all other SPA terms to follow, i.e. buying commercial property from developers, or buying any property from the sub-sale market. As a result, it will absolutely reduce the amount of people who go to court because of the ambiguity of the signed SPA.

The most important factor in the SPA will be the manner of payment, for both the vendor and the purchaser. Penalty will be incurred if the Purchaser unintentially neglects the manner of payment of purchase price.

Besides having to avoid the penalty, the purchaser will need to plan their cash flow ahead. The manner of payment in a sub-sale agreement will be less complicated as the transaction period is shorter and the property is usually ready to deliver. The norm will be the first 2-3% booking fee upon signing the Letter of Offer, the remaining of the 10% deposit upon the signing of the SPA, then the remaining purchase price of 90% to be settled within 3 months after signing the SPA. There is an automatic further extension of 1 month should the Purchaser fail to settle the remaining 90% but only with the payment of late payment interest. As mentioned, there is no standard SPA, one may decide to deviate from this norm if agreed by both parties.

What is a Vacant Possession?

Conclusion

When purchasing a property, your next major worry will be wondering when you will get the vacant possession. ‘Vacant possession’ is a legal term that means that the property is in a competent state to be occupied. This means that this is when the access keys and cards of your newly purchased property are finally delivered to you. For landed residential development by developers, vacant possession has to be delivered within 24 months. As for high-rise stratified buildings, it takes up to 36 months in Peninsular but still remain 24 months in Sabah as per the Rules. On the other hand, the delivery of a vacant possession for sub-sale will usually take 3 – 5 working days after the purchaser has settled the full purchase price. The SPA is subjected to the tenancy when the purchaser is purchasing a tenanted unit. The purchaser will be getting the legal possession as the owner of the property but not the keys to the unit.

Effectively, the rental and deposits shall be delivered to the purchaser by way of assignment of tenancy.

Be meticulous, be scrupulous.

Do not make assumptions, but make sure. No purchaser will want to jeopardize his/her deal or ruin the happiness due to their own carelessness. It is always prudent for the parties to inform their lawyer accordingly of their intentions and to enquire the available protection for anything that matters in the sale and purchase transaction, during the drafting of the SPA. Not after signing on the dotted line.

If you have purchased a house in the secondary market, you will not notice the “Defect Liability Period” clause in the SPA. A ‘defect liability period’ is the warranty period which the Developer is contractually obliged to repair the defects which have appeared within the period of time due to defects on its materials caused during construction. Making a comparison with the Regulation in Peninsular and Rules in Sabah, the Regulation provides a better term to include a 24-month defect liability period than the Rule’s 18 months. Contrary to the privilege of having a developer’s warranty, the purchase of sub-sale properties requires sufficient due diligence of the purchaser when viewing and inspecting the property before entering into the SPA. Due diligence includes checking every part of the house especially sewage, piping, leakage, electrical appliances, rooting and any other fixtures and fittings to prevent any unexpected and undesirable situation. Should the purchaser require the repair of anything prior to vacant possession, the purchaser should make sure that his or her lawyer highlight it in the SPA.

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HOT TOPIC

FUTURE HOTSPOTS OF GREATER KUALA LUMPUR DISCOVER WHERE AND WHAT MAKES KL’S NEXT ‘HOTSPOTS’

W

By Ishmael Ho

e are already halfway

will only start to get more exciting in

and Selangor came in a strong third at

through 2016 and there

the near future. Especially in Greater

27.78%. (W.P Labuan being the second

are plenty of observations

KL (Klang Valley). Yes, indeed volatile

but negligible given the small population

you can make in the real

oil prices, fluctuation of the ringgit, job

size). As economic strength reflects values

estate market. With the recent release

layoff news from the banking industry

in real estate, what better place to look

of the property market report for the

and O&G has affected sentiment

for other than Greater KL.

year 2015 on 19 April by JPPH, figures

but consider the following: The GDP of

have confirmed the overall slowdown

Greater KL alone makes up 39.4% of

in property transactions nationwide.

economic productivity in Malaysia. On

I do believe that albeit the current

top of that, in terms of growth from 2010

general public’s low sentiment, the plot

to 2014, W.P KL tops the chart at 34.79%

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Look Where Major Developers Are Building In the interest of simplicity, it is

Developers such as Sunway

safe to generalize that landed

(Bandar Sunway Semenyih), SP

properties within Klang valley

Setia (Setia Ecohill), EcoWorld (Eco

would yield lower rental yield

Majestic), Tropicana (Tropicana

percentage while holding higher

Heights), UEM Sunrise (Serene

capital appreciation potential. On

Heights) has been branding Kajang

the same token, the reverse is true

and Semenyih making them into

for high rise. An investor prioritizing

the desired location for modern

capital appreciation potential while

G&G landed properties.

taking a medium term duration

At this juncture, be prepared to

of 5 to 10 years should look into

hear more on the North West

areas that are being developed

corridor of Greater KL. This is the

by branded developers. This is

Sungai Buloh West corridor. The

because branded developers are

developers and developments that

able to brand and change the

will be of interest: Bandar Tasik

perception of a sub-urban from

Puteri (Low Yat Group), Elmina

“far” into a more desired location.

West (Sime Darby), Bandar Sri

2 to 3 years ago, the best example

Coalfields (KLK Group), Ijok/Sungai

would be Kajang and Semenyih.

Buloh West (EcoWorld).

Look into Secondary Markets Hotspots aren’t limited to new

Putrajaya line) and LRT 3 (Bandar

launches as well as landed

Utama – Shah Alam – Klang –

properties. What about investors

Johan Setia) presents much more

that are more comfortable with the

opportunities. There are even

healthy and steady cash flow game

further future plans of additional

plan? Secondary market high rise

rail base infrastructures within

properties that are closer to the

Selangor transport masterplan

city would be the hidden gems for

such as the MRT 3 (circle line) and

these investors. In particular, those

LRT arch (Rawang – Shah Alam

that will benefit greatly from mega

– utrajaya), but let’s leave those

infrastructures that will be coming

games for the developers to play.

online in the immediate future. Mid 2016 and MRT 1 (Sungai Buloh – Kajang Line) will start to operate from Sungai Buloh to Semantan station. Mid 2017, the whole phase 2 of Semantan station to Kajang will be in operation. LRT extensions (Ampang & Kelana Jaya LRT extension) should be running anytime soon. That alone is a total of 15 stations (from MRT 1) and 25 stations (from LRT extension) for investors to look at. Whereas, for the risk takers and early adopters, MRT 2 (Sungai Buloh – Serdang –

All in all, there is always a piece for everyone. As cliché as it sounds, knowing yourself is the first step. If the foolproof way is what you seek, just go for mass market properties ranging from RM100K to RM400k within Greater KL. With so many government initiatives addressing this segment of the market for urban areas, the obvious is screaming in the face of investors.

Perhaps the only issue for consideration is your conscience.

Happy investing!

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THE WEALTH REPORT 2016 The rich in Asia increased

Independent global consultancy firm Knight Frank, has just published their 10th edition of the wealth report 2016. This tracks the growing super-rich population in 98 cities across 91 countries in the world.

The term ‘UHNWI’ (Ultra High-Net-Worth Individual), refers to those who have US$30 million or more in assets, with a combined wealth of over half a trillion us dollars.

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his year’s survey is based on the views of around 400 of the world’s leading private bankers and wealth advisors who, between them, manage assets for about 45,000 UHNWIs.

Report Overview In 2015, almost 6,000 people dropped out from the UHNWI wealth bracket – a 3% slide, where only 34 out of the 91 countries for which individual data is compiled saw a rise of UHNWIs. This, according to Knight Frank, is the first annual dip in ultra-wealthy populations since the global financial crisis in 2008.

There are now 187,468 UNHWIs globally, marking a 61% rise from a global UHNWI population of 116,800 in 2005. By 2025, the global population of UHNWIs is set to rise by 41% to 263,483.

The growth is set to be significantly lower than the previous 10 years.

Zooming into Asia, the UHNWI population has the utmost increase compared to other regions in the world, both in the previous 10 years and in the next 10 years.

Asia Pacific in General China and India emerged as the top two countries in Asia with an absolute increase of UHNWI populations over the next 10 years, followed by Japan and Hong Kong. Indonesia is in 5th place, while South Korea, Singapore, Australia and Taiwan follows next, before Malaysia, which sits at 10th place when compared to (only) Asia Pacific countries.

Malaysia sees 64% growth in UHNWI population to 1,629 over the next decade.

According to the Head of Research for Asia Pacific, Nicholas Holt, of the 19 countries tracked within Asia Pacific, 12 saw their UHNWI populations fall in 2015, principally as a result of global macroeconomic events, including the Chinese slowdown, the fall in oil prices, volatile equity markets and the strengthening of the US dollar.

Looking at a longer time horizon, however, Asia especially has been fertile ground for the growth in the number of UHNWIs with more individuals surpassing the US$30 million barrier than in any other region over the last decade.

Asia Pacific Sees Some of the Highest Average Price Growth (PIRI)

Zooming in on Asia Bali, which was the top Asian city at 3rd position last year, has dropped to 64th, with no price growth - interestingly swapping positions with Shanghai. Conversely, Shanghai at the 61st position with no price growth last year is today the only Asian city to enter the top 10 chart, taking third position.

Eight Asia Pacific cities emerged as Top 20 compared to five last year.

Singapore, Hong Kong, and Taipei are the bottom three Asian cities among the 19 featured across Asia and Australasia.

Wealth distribution - Top 20 by COUNTRY (UNHWI populations 2015-2025) Rank

Country

Abosolute increase 2015-2025

Growth 2015-2025

1

United States

19,714

30%

2

China

9,760

75%

3

India

6,321

105%

4

Russian Federation

3,847

72%

5

United Kingdom

2,990

30%

6

Germany

2,979

32%

7

Japan

1,676

26%

8

Hong Kong

1,619

42%

9

Mexico

1,464

48%

10

Brazil

1,368

35%

11

Turkey

1,284

60%

12

Canada

1,250

35%

13

Indonesia

1,206

110%

14

South Korea

1,179

55%

15

Singapore

1,133

48%

16

Australia

1,054

35%

17

Taiwan

936

48%

18

Israel

828

55%

19

Switzerland

682

12%

20

United Arab Emirates

675

50%

21

Malaysia

636

64%

Source: New World Wealth

The Prime International Residential Index (PIRI) looks at the performance disparity of prime residential property across 100 locations, of which 19 cities are from Asia Pacific. Across the world regions, Asia Pacific sees some of the highest average price growth, largely contributed by the 12.3% increase from the strong performing cities in Australasia.

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Most Expensive Residential Property Monaco, Hong Kong, London and New York retained their top 4 positions since last year. For nine consecutive years, Monaco, is confirmed as the most expensive city to buy luxury residential property, with US$1 million buying just 17 square metres of accommodation, whereas Hong Kong and London are in 2nd and 3rd places, offering US$1 million for 20 and 22 square metres respectively.

Geneva has displaced Singapore from the 5th position, while Beijing has climbed two positions from last year to enter the top 10.

Kuala Lumpur is ranked 22 on the chart, with US$1 million buying 199 square metres, downthrowing Sao Paolo and Cape Town.

Strong Appetite for Property Shown by Malaysians According to the Managing Director of Knight Frank Malaysia, Mr. Sarkunan Subramaniam, throughout the past years, Malaysians continue to show a propensity for exporting capital in a need to preserve and grow their wealth – with a strong appetite for property.

This appetite is underlined by the Altitudes Survey, which showed that 39% of UHNWIs in Malaysia are considering a residential purchase in 2016, the highest in the world.

In terms of overseas destinations, Malaysia’s top choice is currently Australia – which offers a favourable exchange for the Ringgit and good returns on property, including excellent educational and employment opportunities.

Education will likely remain a significant driver with 77% of respondents in Malaysia

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saying demand for overseas education from Malaysian UHNWI’s will significantly increase over the next 10 years.

When the survey asked the wealth advisors on their clients’ changes in portfolio allocation towards residential property, 65% of Malaysian respondents said asset allocation to the sector has increased over the last decade; while the same percentage said allocations would also increase over the coming 10 years – the highest seen across UHNWIs in Asia Pacific for both decades.

Subramaniam also stated that Malaysians continue to put more faith in brick-andmortar because property has given them very good returns over the last decade, and it will continue to do so in the next 10 years.

“Property has consistently outperformed many other assets classes in Malaysia,” said Subramaniam.

Average Age of the Rich While these multimillionaires in developed economies such as the United Kingdom and Switzerland are likely to be in their mid to late 50’s or 60’s, developing economies tend to have younger multimillionaires.

This highlights the opportunity for wealth creation in rapidly expanding economies, as well as the increase in global trade and mobility.

Much of this newfound wealth in Asia has had an impact on the age profile of Asia’s wealth brackets, reflecting the recent nature of the growth and opportunities in these markets.

The average age of populations with US$10 million or more in net assets is a case in point, with Chinese individuals in this bracket are on average 10 years younger than their Swiss counterparts.

Most Important Cities to UHNWIs Over the past decade, The Wealth Report has ranked the cities that matter the most to the world’s wealthy, based on where they live, invest, educate their children, grow their businesses, network and spend their leisure time.

On all measures, London and New York have vied for the top two slots. No other city comes close in terms of their breadth and depth of appeal.

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MOST IMPORTANT CITIES TO UHNWIS

10

Source: The Wealth Report Attitudes Survey

[London has beaten New York for the second successive time to win the accolade of ‘most important city to UHNWIs] [Singapore and Hong Kong continue to be part of the Top 10 list of the Most important Cities for the rich, but this time Singapore has beaten Hong Kong for the third place]

When asked if New York or London could ever be overtaken in the coming decade, about half of the respondents for the Altitudes Survey said no.

Of the 34% of the respondents who said yes, Singapore, followed by Dubai are the top contenders to be the next “most important city to UHNWIs” in the next 10 years.

Countries that responded “yes” and picked Singapore included respondents from Singapore, India, Australia, United States, Hong Kong, United Arab Emirates, United Kingdom, Malaysia and China (in decreasing order).

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By Charles Tan

www.kopiandproperty.com

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If You Can’t Afford Something, DON’T RENT, Instead Buy Something You CAN Afford

Someone recently sent me an infographic about the pros and cons of renting versus buying a home. It looked interesting, but when I asked, I got to know that it was done internally based on some research by asking GenYers. Nothing wrong with that, but I have some opinions based on my personal interactions with Gen-Yers, both with those that love property as an investment and those that prefer renting instead. Someday in the future, house prices will be extremely high. So high that everyone would have no choice but to rent…..a small space for a room. Until that day comes, it’s still best to buy.

In the infographics, the advice given was that if we do not yet have enough downpayment for a property, then we should rent first. Actually, renting is a pretty dangerous game to play. The reason being, even when we rent, we want to rent at places that we like. Perhaps it’s the area that we may potentially buy in the future. That’s why rental in many of these hotspots are higher too.

Do you know who gains the most from our rentals? Yes, the person we’re renting the place from, our landlord.

Would we try to rent as low as possible so that we can save as much as possible? Are we sure that we would rather rent an old place so that we can save RM400 per month or more? Honestly, not many are willing to stay in flats while saving to buy a condo.

They are more likely to rent a

condo instead and then find out that their monthly savings are slow compared to the potential price increase for condos in hotspots. Assuming that the rental difference between a flat and a condo is just RM400 per month, that’s RM4,800 per year and within 5 years, we would have accumulated close to RM30,000 from rental savings alone.

Hopefully, this all makes sense.

That’s why if we could not yet afford the place we love, buy somewhere we could afford first.

I consider, the monthly rental we pay, ‘a total loss’. While mortgage payments that you struggle to pay every month is called, ‘owning your dream home for the future’.

Do note that there’s really no such thing as right or wrong. Just do what you believe is best for you. Happy thinking and deciding.

Developers Pessimistic But Luxury Home Prices Still Up

There are no signs that the Singapore government will relax the cooling measures. In a report by Business Times, based on the latest NUS – Redas Real Estate Sentiment Index, property developers in Singapore remain pessimistic over the current state of the residential market and its outlook. I think similar surveys done by REHDA Malaysia has revealed similar results. Some selective stats include the following: 58.4 percent of respondents believe that market conditions will deteriorate further because of the government’s stance on not changing any of the current cooling measures and 47.2 percent expect home prices to marginally soften over the next six months. In brief, the expectations from the real estate community is negative.

This was however not the case based on Knight Frank’s latest Prime Global Cities Index. Here, it was revealed that Singapore’s house prices rose 5.4 percent in Q1, 2016 compared to a year ago. Its Research Head, Alice Tan said, “The annual price increase signals ‘green shoots of recovery’ for the ultra-luxury segment, as high-net worth individuals see rising value proposition for Singapore luxury homes after a prolonged two-year period of

price declines.” One key reason was because of wealthy buyers returning to the Singapore home market and the confidence they have with the country’s long-term outlook. Singapore has always been regarded as a safe haven and having stable economic fundamentals.

Could the property market be such? Some latest prices in the image. Actually, it is during a slowdown that a lot of value emerges, especially for the wealthy buyers. In terms of the modest property price increase, it may also be because flower transactions for the lower-valued homes while the higher-end ones continue to be sold. Even in Malaysia, the sales of luxury cars were up in 2015 and is still up in the first few months of 2016.

Sad to say, but true. The rich will become richer because of the investments they do, while the poorer remains poor because of the things that they don’t do.

Always note, doing nothing is not considered an investment strategy.

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NEWS

SHAREDA’s Courtesy Call to CIDB Construction Industry Development Board Malaysia (CIDB) Sabah’s Director Tuan Ir. Haji Sharifudin welcomed the courtesy visit of SHAREDA Council led by its President Datuk Francis Goh at the latter’s office in KWSP Complex recently. The meet took place to address the local woes faced by the stakeholders in the construction industry from the developers’ on of view.

Ir. Sharifudin informed SHAREDA that the ACT 520 and is amendments will come into force in Sabah effective 1 June 2016. Section 33 of the act will see a noticeable change, especially on calls for registration of all construction personnel for skilled and unskilled personnels; accreditation and certification of construction site supervisor and skilled construction work which carries a penalty of a fine not exceeding RM5,000 each section. Also included in the changes are the registration of 59 trades for Skilled Construction Workers, dealing of non-certified construction materials and the approval of Standards for Certification of Construction Material for 18 types of items.

Amongst other matters discussed are still the same old pertinent issues plaguing the construction industry constantly such as the insufficient supply of skilled or semi-skilled workers, be it local or migrant workers from Philippines or Indonesia. Datuk Francis stressed that CIDB has to work harder with the local community leaders to lure more local youths or school leavers from the rural areas to come out to register and receive the benefits of the basic trainings fully borne by CIDB and future job security.

Due to the shortage of construction personnel, Datuk Francis seeks CIDB’s assistance to support his appeal to bring the matter up to the Government to consider registering or legalising the illegal migrant workers or non-Green Card workers presently working in construction sites throughout the state.

Failing to get permission would mean that he has to resort to other means by importing about 5,000 skilled workers from Palawan, Philippines to work in the construction sites to overcome the shortages as several high-rise property developments have been launched recently in Kota Kinabalu.

CIDB will support SHAREDA’s initiative and appeal for the aforesaid short term measures to fill up the vacuum or shortage of skilled workers providing that the construction personnel must passed the skills accreditation exams or trained in the respective training centres by CIDB/ABM to be eligible for Green Cards, on top of being compliant to the Government’s pre-requisition.

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SB

Datuk Francis reiterated that CIDB should strengthen their efforts to conduct more training courses for the local youths in the rural areas to acquire the skills for the needs of the construction industry. He vouched that once the locals are trained; jobs will be guaranteed especially for those practical trainees attached to the work sites to be absorbed into the employment. SHAREDA has a strength of 180 members in the association to support the recruitment.

to offer practical trainings and employments to those trained workers on CIDB courses. He suggested that besides training, ABM Sabah must also keep abreast of new technologies and apparatus used in the construction site instead of the old methods.

“Perhaps CIDB and ABM Sabah could organise an exhibition to showcase old & new methods, new technologies and apparatus used in the construction industry. SHAREDA and other related professional bodies or NGOs could also render their assistances towards the success of the expo”, he added.

Besides training the workforce in the construction industry, the stakeholders like developers, consultants, contractors, etc. should be trained too, and to understand the application of green tools for quality management of building projects. SHAREDA will walk the talk by organising a Talk on QLASSIC & CONQUAS to its members of which

1

CIDB explained that a training arm - Akademi Binaan Malaysia (ABM) - is embedded in their organisation, which was stablished in March 2001. ABM is the platform to prepare skill building training for the human resources for the construction industry wherever necessary at construction sites or training centres.

Presently ABM is in Sabah, Sarawak, Kuala Lumpur, Kedah, Terengganu and Johor. Sabah has 4 ABM training centres at Kota Kinabalu; KKIP, Sandakan, Kudat and Ranau.

Mr Syaifful Bahkri said ABM offers programmes for construction personnel, fresh school leavers, accreditation for construction skill training for workers on site or ABM training centre, safety induction (Green Card) and customised Contractor Continuous Development (CCD) and Construction Certification Programme (CCP).

There is a varied list of 31 trainings offered for skilled construction personnel ranging from indoor to outdoor such as bricklaying, plastering, carpentry, plumbing reticulation, scaffolding, hydraulic excavator operation, electrical installation PW1 to PW4, drafting, amongst others. To date, ABM has successfully accredited a total of 41,506 personnels.

CIDB has agreed to provide a speaker on this topic. Datuk Francis encourages members and property developers to attend the talk and apply the green tools in their next or future building, for it to be credited as a green building in property development industry.

CIDB has also initiated the transformation programme. Datuk Francis has accepted the invitation and will lead a delegation of property developers to sign the MoU with CIDB Sabah in response to the Pledge Statement Menu under the Construction Industry Transformation Programme (CITP). The signing will be in conjunction with their Seminar on Strengthening Quality Management of the Construction Industry and Signing Ceremony of the CITP pledge on June 2, 2016.

Datuk Francis fostered a close collaboration with CIDB Sabah cohesively at the warm and fruitful reception, as a partner to enhance and strengthen the quality and standards in the building and construction industry in the state. Both parties will see to working together to leverage further on the knowledge and technology today to develop the productivity and efficiency in the value chain. Some of these strategies will see it being applicable for short and/or long term goals.

1.

Datuk Francis was delighted to be informed on the list of training programmes currently carried out by ABM Sabah and is committed to assist CIDB on the request by Ir. Sharifudin

SHAREDA President Datuk Francis Goh (3rd left) receiving a memento from CIDB Sabah’s Director Tuan Ir. Haji Sharifudin Bin Che Omar during the recent courtesy call. (L-R) Mr Wesley Chai and Datuk Sr Chua Soon Ping of SHAREDA; Mr Poul Joannes and Mr Syaifful Bakhri (ABM) of CIDB Sabah

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ELEVATE “A trusted brand is a genuine asset. Creating and reinforcing brand value is the basis for enduring profitable growth” – Larry Light

In today’s competitive business environment, self proclaimed fame is no longer impressive. The world has evolved, and discerning consumers now determine the success of a brand. This is also the principle on which PH Property Excellence Awards is founded.

It is already proven that the strength of a brand can bring forth profitable growth in a business. The time has come for you to give that boost to your brand.

Nominate yourself or your company in the inaugural PH Property Excellence Awards.

To learn more about the awards, log on to www.PropertyHunter.com.my/Awards

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