Property Insight May 2016 by PropertyInsight

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COVER STORY

BCB GROUP RISING TO THE OCCASSION

MAY 2016

AREA FOCUS

SUNGAI BESI

MAIN FEATURE

TEARJERKING TENANTS KDN PP 18181/04/2013 (033492)

M AY2016 RM7.50(WM) RM9.00(EM)

DEVELOPMENTS Best Family Living Development HomeTree by BCB Berhad Best Leisure Living Development East Utama by CK East Group Best Eco-Urban Development Green Residence by Binastra Land Sdn Bhd Best Mixed Development EkoRiver Centre (KL River City) by Ekovest Berhad Best Facilities Development Atlantis Residences by Teladan Setia Sdn Bhd Best Refurbished Development The Resident @ Ampang South by OCR Land Holdings Sdn Bhd Best Self-Sustained Development Temasya Glenmarie by I&P Group Sdn Berhad Best Hi-Rise Development - Northern Region TreeTops Residency by Team Keris Berhad Best Hi-Rise Development - Southern Region The Elysia Park Residence by BCB Berhad Best Hi-Rise Development - Central Region Lakeville Residence by Mah Sing Group Berhad Best Luxury Landed Development Lambaian Residence by Anvil Development Sdn Bhd Best Landed Development Hijauan Enklaf @ Alam Nusantara by Selangor State Development Corporation (PKNS) Best Boutique Lifestyle Development Rimbawan Residences by De Centrum Land Sdn Bhd Best Transit Oriented Development Kuala Lumpur Sentral CBD by Malaysian Resources Corporation Berhad Best Integrated Development Times Square Ipoh by Team Keris Berhad Best Hill-Top Development Foreston by Bukit Hitam Development Sdn Bhd Best Luxury Lifestyle Development City of Dreams by Ewein Zenith Sdn Bhd Best Urban Lifestyle Development H20 @ Ara Damansara by Titijaya Land Berhad Best Hybrid Development Rencana by CK East Group Best International Destination Development The Meridin @ Medini by Mah Sing Group Berhad Best Themed Resort Ramada Lumut Resort by KB Group (Malaysia) Sdn Bhd Best Eco-Urban Township Development Southville City by Mah Sing Group Berhad Distinctive Lifestyle Township Development Seri Austin by United Malayan Land Berhad Best Sustainable Township Development Sunsuria City by Sunsuria Berhad Best Township Development Alam Impian by I&P Group Sdn Berhad

Congratulations TOP 10 DEVELOPERS Ekovest Berhad I&P Group Sdn Berhad IJM Land Berhad Mah Sing Group Berhad Malton Berhad Malaysian Resources Corporation Berhad Sime Darby Property Sunsuria Berhad United Malayan Land Berhad WCT Land Sdn Bhd

DEVELOPERS Best Emerging Developer Skyworld Development Sdn Bhd Distinctive Developer Binastra Land Sdn Bhd Best Affordable Housing Developer Syarikat Perumahan Negara Berhad (SPNB) Best Boutique Developer Alfranko Development Sdn Bhd Best Township Developer Matrix Concepts Holdings Berhad Outstanding Developer - Northern Region Asia Green Group Outstanding Developer - Southern Region BCB Berhad Outstanding Developer - East Malaysia Wah Mie Group

SPECIAL RECOGNITIONS Personality Of The Year Dato’ Ir Jauhari Hamidi Outstanding Young Developer Dato’ Sri Dr Vincent Tiew Leadership Excellence Award Dato’ Simon David Leong Most Aspiring Personality Dato’ Colin Tan

EDITOR’S NOTE

EDITORIAL

Exploring new horizons

KK Chua, Editor

Editor-In-Chief KK Chua kkchua@propertyinsight.com.my Writers Fara Petial Natasha Gideon Avinash Sagran CREATIVE

arlier this month, we at Property Insight were overwhelmed with the biggest, not to forget prestigious event that took place on April 1. We are not fooling you when we say that The Property Insight Prestigious Developer Awards (PIPDA) 2016 took over our lives quite a bit. A total of 47 award recipients were feted at the exclusive award ceremony that was initiated to celebrate and appreciate the biggest and best contributors to the property scene in Malaysia. Follow up on the journey of PIPDA at our News & Events column. All we can say is that we can’t wait to do this again next year! This edition, we have BCB Berhad adorning our cover page. The developer was one of the major winners at PIPDA bagging the Best Family Living and Best Hi-Rise Development awards. The founder behind BCB speaks to us about the company’s journey and key to success. Our writers have put together some interesting features that are bound to pique your curiosity for this edition. Avinash has done some digging into controversial issues of property auction and illegal syndicates that many know exists but are unable to put a stop to. We have some tenants from hell giving landlords a run for their property with our feature Tear-Jerking Tenants. Natasha provides some insights to the mess most property owners are left to deal with when they fall prey to such tenants.

If you know a PTPTN borrower or defaulter, the next article will interest you. Learn what happens when a PTPTN borrower defaults his or her loan payments. Not only will they be barred from leaving the country but this piece will educate us on how defaulting PTPTN loans can dash all other life plans. Our Developer of the Month is the I&P Group, who’s behind flourishing names like Temasya Glenmarie and Alam Impian while our featured property for this month is the trend-setting D’Latour @ DK City in Bandar Sunway. Our Home+ column highlights how a little touch on interiors can make a great deal of difference to your space while financial expert Gary Chua makes it to our Personality of the Month to share a tip or two on smart investment. Writer Fara is in love with the bed at Kim Haus Loft in Penang. In fact, she is still talking about the unique BnB which caters to yuppies and free-spirited travellers. Read more about it at our Destination column. Our amazing contributors have shed some light on tips to purchase that dream home of yours; some insights to a particular legal matter arising in gated and guarded communities and a motivational piece on achieving big dreams. We are certainly excited about our next big venture known as Entrepreneur Insight. We will be launching the website at the end of the month in conjunction with our inaugural Malaysian Entrepreneur Convention that already has 3,000 registrants without us doing much marketing.

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Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editors, writers nor employees or agents can be held liable for any errors, inaccuracies and/or omissions. The contents of this publication do not constitute investment advice. It is intended only to inform and illustrate. No reader should act on any information contained in this publication without first seeking appropriate professional advice that takes into account their personal circumstances. We shall not be responsible for any loss or damage, whether directly or indirectly, incidentally or consequently arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect Property Insight’s views. The publisher does not endorse any company, organisation, person, investment strategy or technique mentioned in this publication unless expressedly stated otherwise. The publisher does not endorse any advertisements or special advertising features in this publication, nor does the publisher endorse any advertiser(s) or their products/services unless expressedly stated to the contrary. All rights reserved. No part of this publication may be reproduced in any form or by any means, including photocopying and imaging without the prior written permission of the publisher.

CONTENTS

44 PERSONALITY OF THE MONTH

Attaining Financial Freedom

Isn’t that what we all want? Learn how to do it with Gary Chua

ROOKIE INVESTOR

55 20 COVER STORY

Rising to the Occassion

Reaping the Fruits of ‘Flipping’ at 24

When speaking on strategies, do not let Nicholas’s smile fool you, he is not your average 24 year old, but in fact is currently guiding people through their own property investing journeys

INVESTOR NEXT DOOR

Follow Me, Start From 0!

Dato’ Tan Seng Leong, the Founder of BCB Berhad has come a long way to make the company come up trumps

It is never too late to start

MAIN FEATURE

HOME PLUS

Tear-Jerking Tenants

The landlord always gets the shorter end of the stick when dealing with tenants from hell, who sometimes even lock themselves in so you cannot kick them out

FEATURE

INDUSTRY INSIGHT Investing With CBD Properties

Eyes expansion beyond boundaries into the ASEAN market

The Makeover Guys

What started out as a solution for property investors, is now a fullfledged service that is high in demand. The idea is to balance out budget and style by minimising the cost of production by way of self-paint and using recycled items, among others

Impacting your dream plans in more ways than one

Defaulting Your PTPTN Loan

DESTINATION - RETREAT

An Insight on Property Auction

Kim Haus @ Penang

Auctions are only for the brave

Bed and breakfast for the yuppies and free-spirited travellers

DEVELOPER OF THE MONTH

LEGAL

38 I&P Group a Success Story of Mergers

The Group Managing Director, Dato’ Ir.Jamaludin Osman shares on the prosperous story of I&P Group

FEATURED PROPERTY

Observing the Deed of Mutual Covenants in Gated and

Guarded Communities

STRATEGY

44 D’Latour @ DK City, Bandar Sunway Style-Setting. Trend-Blazing

70 72

AREA FOCUS

FINANCE

46 Sungai Besi: Once a tin mine, now a piece of golden real estate

The area will see itself transform with the building of Bandar Malaysia where the old rundown airport currently sits

Tips to Buy Your Dream Home Dream BIG, Start Small, Act Now

Working with a Financial Professional

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PROPERTY SHOWCASE 2016 EVENTS CALENDAR

A place where the right people meet to achieve their dream homes & investments PROPERTY SHOWCASE

PIPDA GALA DINNER 2016

PROPERTY SHOWCASE NU SENTRAL

PUBLIKA

SHANGRI-LA

Solaris Dutamas

Kuala Lumpur

KL Sentral, KL

4 – 6 MARCH 2016

1 APRIL 2016

13 – 19 APRIL 2016

days

night

days

PROPERTY SHOWCASE

INVESTORS’ HOT PICKS PROPERTY SHOWCASE

QUEENSBAY MALL

KOMTAR JBCC

MID VALLEY EXHIBITION CENTRE

Penang

Johor Bahru

Mid Valley Megamall, KL

12 - 15 MAY 2016

3 – 5 JUNE 2016

days

3 days

15 – 17 JULY 2016

HOME+ & PROPERTY SHOWCASE

PROPERTY SHOWCASE

IPC SHOPPING CENTRE

CHERAS LEISURE MALL

PARADIGM MALL

Mutiara Damansara

Cheras

Kelana Jaya

25 – 31 JULY 2016

02 – 07 August 2016

12 – 14 AUGUST 2016

days

PROPERTY SHOWCASE

MALAYSIA’S LARGEST INVESTMENT SUMMIT

GURNEY PLAZA

SETIA CITY CONVENTION CENTRE

days

Penang

Shah Alam

27 – 30 OCTOBER 2016

5 – 6 NOVEMBER 2016

days

We look forward to collaborating and partnering with you Enquiries: +6012-2050 911 / janet@propertyinsight.com.my

PROPERTY INSIGHT PRESTIGIOUS DEVELOPER AWARDS 2016

A NIGHT TO REMEMBER P

IPDA is back! The Property Insight Prestigious Developer Awards 2016 (PIPDA) was held on April 1st 2016, at Shangri-La Hotel, Kuala Lumpur. The event, which was launched in 2015, received overwhelming response and support from all the stakeholders involved where over 500 guests graced the event with their presence. The winners of PIPDA 2016 were announced at the ceremony, officiated by Deputy Minister of Urban Wellbeing, Housing and Local Government Datuk Halimah Mohamed Sadique. Top developers worthy of their titles were acknowledged for their hard work and unduly effort in the industry. PIPDA was conceived for the sole reason of acknowledging and appreciating the exceptional hard work put into the building our nationâ&#x20AC;&#x2122;s number one need, providing top class, quality property. PIPDA 2015 10 | MAY 2016 www.propertyinsight.com.my

received as much support from all around, with the utmost presence of the Minister of Tourism Datuk Seri Mohamed Nazri Abdul Aziz. PIPDA 2015 saw the crowning of 45 winners during the gala dinner. Halimah Mohamed Sadique said in her speech, “The government is also pulling its weight in propelling and fulfilling our national vision of achieving a developed nation status by the year 2020 together with the surging passion of the Rakyat, the foundations of this country. The leaders of this country recognise the strains of the current property climate alongside the position of our Ringgit affecting the cost of living especially of our younger generation who have had to be contented with the homeless generation nametag.” Managing Director of Armani Media Sdn Bhd, publisher of Property Insight Magazine, KK Chua added in his speech “Moving towards a sustainable economy is a resilient effort in order to ensure stability

www.propertyinsight.com.my MAY 2016 I 11

PROPERTY INSIGHT PRESTIGIOUS DEVELOPER AWARDS 2016

and prosperity for the nation. Property Insight Prestigious Developer Awards (PIPDA) acknowledges continuous growth in the property industry. Developers who have displayed the highest quality and excellence in delivering top notch products for thousands of Malaysians is a feat worth recognising. These are the same industry players who would continue to prosper and boost Malaysiaâ&#x20AC;&#x2122;s economy.â&#x20AC;? A total of 47 developers were shortlisted from 120 submissions for the award. Categories of award included the new additions from last year, namely Outstanding Young Developer Award, Leadership Excellence Award and an

12 | MAY 2016 www.propertyinsight.com.my

award for Most Aspiring Personality. Readers were given the opportunity to be a part of the shortlisting process by casting their votes via an online poll and the magazine for those deemed deserving of their respective categories. The voting period was between Dec 7, 2015 and Mar 15, 2016 at www.pipda.com.my. The Malaysian Property Investment Association (MPIA) and the Editorial Team from Property Insight then shortlisted the winners for each category. The decisions

www.propertyinsight.com.my MAY 2016 I 13

PROPERTY INSIGHT PRESTIGIOUS DEVELOPER AWARDS 2016 were audited by esteemed chartered accountants at HML & Co. PIPDA is an inclusive award ceremony encompassing every dimension of the property market to ensure holistic appreciation of the positive impact all possible stakeholders have contributed to the industry. Being amongst one of the most diverse award ceremonies, PIPDA 2016 honoured major stakeholders in 47 unique categories proving no one developer is second to another for each award. The prestigious event was also filled with entertainment by renowned performers including the first Akademi Fantasia

14 | MAY 2016 www.propertyinsight.com.my

Winner, Vincent Chong and comedy queen Joanne Kam and popular celebrities like Amber Chia and Bangsar Babe. We at Property Insight canâ&#x20AC;&#x2122;t wait to continue this tradition with PIPDA 2017. We are hoping for greater reception and celebration next year so we can improve on our quality. See you again!

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NEWS & EVENTS

PROPERTY INSIGHT’S PROPERTY SHOWCASE SHEDS LIGHT ON CURRENT MARKET ISSUES

roperty Insight Property Showcase was held at Nu Sentral from the 13th to 19th of April. The showcase witnessed numerous reputable developers namely M101 Holdings, Oriental International Holdings, Hatten Group, Tropicana Corporation, UM Land, PKNS and Mah Sing eager to engage the public by highlighting their launches and properties. The event was a great way for public to gauge the plethora of properties offered by developers under one roof. Visitors had a meet and greet session after listening to property gurus like Alan Poon, Casse Tio, Chris Tan, Dr Daniele Gambero, Dato’Ameer Abas, Faizul Ridzuan, Gary Chua, Dr Ivan Ho, Khairudin Ya’cob and our very own KK Chua. The diverse pool of speakers covered various topics from tips to property outlook, finance and guides on investment strategies.

16 | MAY 2016 www.propertyinsight.com.my

SUNWAY PROPERTY OFFERS CERTAINTY IN TIMES OF UNCERTAINTY

ANDAR SUNWAY, 29 March 2016 – Sunway Property, the Master Community Developer and Malaysia’s leading property developer, introduced special offerings under the Sunway Property Certainty Campaign. In line with its commitment to invest in the communities, Sunway Property Certainty Campaign is designed to help purchasers to own a property during these uncertain times. The campaign will offer three packages which include Guaranteed Loan, Deferred Payment and Voluntary Exit Plan. During the event, Sunway Property also unveiled the final phase of the Sunway GEO series, which is the first integrated development located in the heart of Sunway South Quay. Sunway GEO Residences 3 will consist of a 44-storey condominium with 420 units.

THE WORST MAY BE OVER FOR PROPERTY MARKET AS VARIOUS INDICATORS APPEARS TO HAVE BOTTOMED OUT

UALA LUMPUR, 12 April 2016 – Mah Sing Group Berhad (Mah Sing) today noted that the worst may be over for the Malaysian property market as various indicators appears to have bottomed out. The company is confident of achieving its RM2.3billion sales target, and will continue to maintain a strong balance sheet for land acquisitions and to counter uncertainties, during its media briefing at the 12th Invest Malaysia 2016 (IMKL) here. Mah Sing achieved approximately RM408million in sales as of 31 March 2016 despite the shorter working Q1 due to the festive season, and are in a good position to hit their 2016 sales target with its wide product range located at key hotspots and attractive pricing.

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NEWS & EVENTS

NEW HOMES STILL PREFERRED BY MALAYSIANS

UALA LUMPUR, APRIL 19 2016 – Despite the ample supply of homes on the secondary market, up to 36% of Malaysians prefer to buy a new home rather than buy from the secondary market. This was revealed in a recent study by PropertyGuru. com, the region’s leading property site for property listings and marketing intelligence. PropertyGuru’s Malaysia Property Market Sentiment Survey Report showed that a large segment of potential home owners would still prefer a new home as their first choice compared to 17% who would look to the secondary market as their preferred choice. In fact, one in two buyers will continue to visit developers’ showrooms rather than go through real estate agents to check out the latest products available.

SIME DARBY PROPERTY LIFESTYLE COLLECTION 2016 CAMPAIGN IS BACK TO GIVE YOU MORE

ime Darby Property Lifestyle Collection 2016 Campaign consistS of wide collection of residential and commercial properties. The categories include ‘The Signature’, ‘Inspired Living’, ‘Practical Charm’, ‘High Life’ and ‘Prospectus’. The 2016 Lifestyle Collection sees the introduction of the unique Value Investment Privileges (VIP) Fast Track Programme, a ground-breaking approach to help the public own their dream property. Sime Darby Property is partnering AmBank, Bank Rakyat, BSN, Citibank, CIMB, Maybank and RHB as panel financial institutions for the VIP Fast Track Programme. Potential purchasers are able to engage with these institutions to check their credit status and obtain results quickly. Once eligible, purchasers will then be given a conditional pre-approved loan and they will be able to start shopping for their dream property offered by the Lifestyle Collection 2016. The public can obtain details on the roadshows by visiting Sime Darby Property’s website at www.simedarby.com or via the Sime Darby Property App (available for download via the App Store and Google Play).

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TITIJAYA SIGNS AGREEMENT WITH ASCOTT

UALA LUMPUR, 6 APRIL 2016 - Titijaya Land Berhad, has entered into an agreement with The Ascott Limited for two of its upcoming property developments located in Penang and Glenmarie, Shah Alam. The term of the Agreement is for a period of ten years, whereby both parties will have the option to extend the Agreement for an additional five years, on the condition of a mutual agreement from both companies. Throughout the term, Titijaya will remain as the rightful owner of the land, property and facilities. The partnership will deliver synergistic benefits to both parties by leveraging on Ascott’s global presence and Titijaya’s development expertise. Ascott’s core competency has been in the extended stay market, which has put them in a very resilient position and given them a strong competitive edge, with an excellent occupancy rate track record.

MY FIRST HOME CONVENTION PENANG EDITION 2.0

CSR programme by GM Training Academy aimed at assisting first time home buyers to obtain loan approval. This year, with sponsors from Asia Green, Aspen Group and V100 Consultancy, they are targeting 350 participants to attend the talk. They have specially chosen speakers in their respective

field to share their knowledge with you. They include Michael Geh (Raine & Horne), Ken Lim (Penang Property Talk), Elane Goh (V100), Miichael Yeoh (GM), Oh Aik Kim(Ibrahim & Kim) and Mun Goon (GM).There will also be a special forum session at the end of the day that will include all the speakers. The event

will be held on 28th May 2016 Saturday at Gurney Hotel from 9 am to 6pm. Please register early at www.miichaelyeoh/seminars/ fhpg/Alternatively, you can also register at 014-3385 636. Please provide Name, Email and Contact when registering .

UDA & SYNDICATED ISLAMIC FUNDING FACILITY

n the last 30th March 2016, UDA Holdings Berhad (UDA) signed a syndicated Islamic Funding Facility agreement worth RM500 million with five banks to part finance the group’s property development project. The syndicated Islamic Financing Facilities will partly finance the construction of development throughout the country such as in the central region, particularly the golden triangle Kuala Lumpur, as well as the north and south areas of Malaysia. The event that was held at Premiera Hotel 232, Kuala Lumpur and participated by financiers namely Affin Islamic Bank Berhad, AmBank Islamic Berhad, RHB Islamic Bank, Bank Pembangunan Malaysia Berhad & Kuwait Finance House (Malaysia) Berhad www.propertyinsight.com.my MAY 2016 I 19

COVER STORY

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RISING TO THE OCCASSION Dato’ Tan Seng Leong, the Founder of BCB Berhad has come a long way to make the company come up trumps BY: FARA PETIAL

CB Berhad – Building Communities and Beyond recently reached another milestone in its journey after being honoured with three awards at the Property Insight Prestigious Developer Awards, namely the Outstanding Developer (Southern Region), the Best Family Living for Home Tree and Best Hi-Rise Development (Southern Region) for The Elysia Park Residence. Property Insight speaks to Dato’ Tan Seng Leong, the Founder of BCB Berhad to find out their key to success. “These awards show that BCB has crossed an important milestone in its journey to become a reputable and distinguished developer. It means that our years of hard work are starting to bear fruits and we will continue delivering quality products,” shares Tan. GOING BEYOND The history of BCB Berhad goes way back to 1988, when it was known as Kemajuan Buditama Sdn. Bhd., a private limited company listed in the main board of Bursa Malaysia on 3 December 1996. “Our development projects are spread over several towns in Johor namely Kluang, Batu Pahat, Parit Raja, Pontian, Yong Peng

and Johor Bahru. In addition, it has a development project in Senawang, Negeri Sembilan,” says Tan. He adds BCB ventured into the Klang Valley and developed the high-end condominium project in Concerto North Kiara, Kuala Lumpur and the high-end gated and guarded bungalow township in Home Tree at Kota Kemuning, Shah Alam, Selangor. The developer also launched its first project in Medini – The Elysia Park Residence in 2015. “To ensure that we stay on course in pursuit of our goals, we always remember the fundamental meaning of BCB – Building Communities and Beyond. It may seem like a tag-line, but for it to work, we need the involvement and concerted effort of all in the organisation to showcase that BCB is worthy to our purchasers in all aspects.” Tan adds. The developer aspires to provide the best for its buyers via good building designs and a superior layout. This is the reason why BCB emphasises on following key points for all it products: • Innovation • Comfort • Security • Quality www.propertyinsight.com.my MAY 2016 I 21

COVER STORY

Home Tree takes its inspiration from a tree with roots deep within the earth to symbolise life, branches to symbolise road networks and leaves, as homes” - Dato’ Tan Seng Leong

WHEN THE GOING GETS TOUGH Only then the tough gets going! Tan personally witnessed three economic downturns in 1985, 1997 and 2008. Hence, he is able to lead the company wisely. “I believe in turning crisis into opportunities. Mr. Opportunity will always pass through the door, but it takes the right person with the right vision to greet him.” “In order to overcome challenges, we must be able to keep up with the constant change in the environment and stay ahead of it.” “One of the challenges we face is the investor confidence, which has a considerable influence on investment decisions. The challenges lie in changing consumer and business confidence levels. The media can play a role in this process by diffusing accurate and timely information to support business decisions.” HOMETREE @ KOTA KEMUNING Tan elaborates that the master plan for Home 22 | MAY 2016 www.propertyinsight.com.my

Tree is centred on balancing individualism and community. “Generally eight to nine units of homes are clustered around a culde-sac, and its open gate design creates an extended space for children and adults to gather and interact with each other, fostering stronger community ties.” “The cul-de-sac also constrains vehicular speeds, therefore creating a quieter streetscape and a safer neighbourhood for children to play in. Home Tree is adorned by Family Park, Backyard Garden, Wellness Park and many green belts of landscaped trees and shrubs.” Oriented to have the best view of a beautiful lake, the exclusive resident’s only clubhouse is designed from the ground up to offer resort lifestyle within the city limits. The facilities in the clubhouse include a spacious function room and a fully equipped gym, both walled with glass and overlooking views of the swimming pool and the lake. From a trendy pool party to a family BBQ gathering, this clubhouse is the

place to entertain and impress. “Home Tree takes its inspiration from a tree with roots deep within the earth to symbolise life, branches to symbolise road networks and leaves as homes.” “To create a nurturing green concept community means that this high-end development is also designed to be in harmony with nature, by having generous amount of lush greenery, landscaped streets, pocket gardens and linear parks dotted with winding pathways around a centrepiece lake. Bountiful open green spaces are thoughtfully created to accentuate the well-being of residents to have a positive impact on everyday lives. The drive home after a long day at work is a pleasure to behold, with wide landscaped streets canopied by tall leafy trees.” “This is the last piece of prime residential land of Kota Kemuning – with Klang to the west, Putra Heights and Puchong to the east and the administrative centre of Selangor, Shah Alam to the north,” states Tan. Home Tree is easily accessible via highways and is about 39km away from Petronas Twin Towers (KLCC), 20km from Sunway Pyramid and 18km from Subang Jaya. This project is surrounded by existing amenities such as Aeon Big Hypermarket, Chinese Taipei School and Columbia Asia Hospital. “After years of rapid development, Kota Kemuning is becoming one of the most vibrant, harmonious and peaceful living areas in the Klang Valley.”

Home Tree - Lake view

Home Tree - Garden view

Home Tree - Linear view

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COVER STORY

The Elysia Park Residence - Modernistic designed guardhouse

THE ELYSIA PARK RESIDENCE @ ISKANDAR PUTERI “Besides offering various layouts catering to a varied crowd of buyers, I would say that the Elysia Park Residence is unique on its own as it’s been designed to include a triple volume Sky Garden and a rooftop garden that redefine the concept of ‘taking a walk in the garden’. Other than that, residents who value the presence of greenery will certainly appreciate the 209,000 sqft Mahkota Park that is right next to the development,” says Tan. “The name ‘Elysia’ is inspired by the Greek 24 | MAY 2016 www.propertyinsight.com.my

mythology of the Elysian Fields, where God created this heaven for heroes and outstanding mortals. Hence, it’s created for the privileged and elite circle.” “Elysia Park Residence’s winning point is of course, its location with it being positioned smack in the middle of Iskandar Puteri, which is set to be Johor’s new State Administrative Centre.” This project is surrounded by a host of important landmarks and amenities. These include Legoland Malaysia, the Mall of Medini - the largest retail mall in the southern region of Malaysia and the

Pinewood Iskandar Malaysia Studios. In addition, there are Educity, the Puteri Harbour Family Theme Park and the Southern Industrial and Logistics Clusters (SiLC) in the vicinity, providing a large growing catchment for the project. “Sitting right next to the development is also the Gleneagles Medini Hospital, a hotspot for medical travellers. The 300bed hospital which offers a comprehensive range of specialities including cardiology, otolaryngology or ear, nose and throat (ENT), obstetrics and gynaecology, oncology, ophthalmology and orthopaedics

The Elysia Park Residence - Panaromic sky garden

adds momentum to the area.” Connectivity-wise, the Elysia Park Residence is easily accessible via the Iskandar Coastal Highway, Eastern Dispersal Link (EDL), Johor Bahru East Coast Highway and Senai-Desaru Expressway. The development also enjoys the advantage of being only five minutes away from the Second Link Customs, Immigration and Quarantine (CIQ) toll. 2016 STRATEGIES In the aspects of property developments, Tan says “Klang Valley and Johor Bahru are undergoing major transformations and the property market remains favourable. As we know, population growth and infrastructure development generate demand for housing and commercial properties.” Under the Iskandar Malaysia development plan, the region, while enjoying state-ofthe-art facilities and accessibility through infrastructure projects, is aspiring to become a self-contained metropolis with 3 million people by 2015. “It is envisioned that a financial centre, medical facilities, internationally recognised colleges, high-end housing, luxury hotels, theme parks, media production studios and the likes become catalysts projects that will be driving demand. For instance, the completion of the high speed rail (HSR) project will further spur growth in the Iskandar area with an 44% increase in

population within Gerbang Nusajaya itself,” explains Tan. FUTURE PROJECTS & TRENDS Apart from the Elysia Park Residence, BCB is also developing a 22-acre commercial plot known as Versis @ Medini which will eventually house 189 units of shop-offices. The first phase will comprise of 57 units of 3-storey and 5-storey shop offices. This development will also feature 14 units of semi-detached water villa shop-offices – the first of its kind in Johor Bahru. “Another upcoming plan is an integrated development spread across 3-acres of land in Medini comprising residential components and a hotel. Currently, we are negotiating with several internationally acclaimed hotel management brands,” justifies Tan. “For Home Tree @ Kota Kemuning, we will be launching our Phase 2, Phase 3 and Phase 4 in year 2016 – 2017. Phase 2 consists of bungalows and semi-detached units, Phase 3 consists of cluster houses, semi-detached houses and linked houses, while Phase 4 will be for commercial development.” “I have the utmost confidence in the future of Klang Valley as well as Johor, especially for Iskandar. To me, all developments come back to the same fundamental of delivering quality products at the same time meeting the market’s need,” asserts Tan.

The Elysia Park Residence - Refreshing lap pool

Speaking on future development trends, Tan says, “Sharing the costs of maintenance through Body Corporate levies in Strata Title ownership is increasingly attractive to two age groups. The young to middle age professional couples, and the aging empty nesters – looking to enhance their retirement years. In recent times, ‘landed strata title’ is becoming more common. I believe that it is likely to continue increasing in coming years.” Tan concludes by advising investors who want to continue investing in 2016 to know their budget, buy in a high-growth area and most importantly, be realistic about their investment goals. You really need to take it from him, a man who hits the home run!

Video interview with Dato’ Tan Seng Leong, Founder of BCB Berhad www.propertyinsight.com.my MAY 2016 I 25

MAIN FEATURE

TEAR-JERKING TENANTS The landlord always gets the shorter end of the stick when dealing with tenants from hell, who sometimes even lock themselves in so you cannot kick them out BY: NATASHA GIDEON

26 | MAY 2016 www.propertyinsight.com.my

issing sinks, holes in the wall and dead pets all have one thing in common. These are incidents that have happened to landlords who’ve rented out units to tenants from hell. These are the tenants who have no care and qualities of a responsible tenant simply because they do not own the units they live in. Recently, residents in Damansara Perdana were shocked with a couple of tenants actually making ‘bombs’ in their rented condominium. Those are extreme cases, but they happen nevertheless. Perhaps the most common habits shown by these group of tenants are late payment and refusal to leave the property even after months of not paying rental. The landlord always gets the shorter end of the stick in this type of situations. Not only do you still need to service your loan

for the property you are leasing out, these tenants from hell live in the notion that they have the right to stay right where they are, and sometimes even lock themselves in so you cannot kick them out. “I rented out my unit to a couple who were expecting, during Chinese New year weekend and they had claimed to have banked in the deposit on Friday after 4pm. That was my first mistake, I trusted them blindly after being convinced by the agent that they would not cheat me. “To cut the long story short, this couple stayed for a week for free and cost us RM 1,400 as well as a proper Chinese New Year celebration. The unit was rented out to a couple of students for RM 1,000 the following month,” shares Dexter Lim and Wei Tsung Kam in their book, “Start From 0!”

The problem with directly dealing with tenants is the tendency to use short cuts as well as make emotional decisions which at most times leaves you with bad tenants and a million problems” - Pang Hiok Boon www.propertyinsight.com.my MAY 2016 I 27

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The tenancy problems sometimes may stem from the landlords themselves not collecting rent on time. This may sometimes give the tenants the perception that the landlord is lenient on payments, and thus taking advantage of the situation. When faced with such a problem it is only natural to not know how to get rid of these stubborn tenants, especially if they lock themselves in. This leaves you with very little to do, but a lot to handle since you are now paying for a parasitic tenant in your unit which you cannot even rent out. This is a classic case of double jeopardy and it happens too often in this day and age, especially with the current economic situation.

28 | MAY 2016 www.propertyinsight.com.my

LEGAL ASPECTS If it happens to you, the best thing you could do is probably issue a legal demand letter to the tenant. Section 7(2) of the Specific Relief Act 1950 specifically requires a landlord to obtain a court order before he can recover possession of the property from a tenant. In any case, where the tenant fails to make rent, there may be a cause for eviction. It is important that disputes amongst both parties, whether it is a landlordâ&#x20AC;&#x2122;s failure to make repairs or a tenantâ&#x20AC;&#x2122;s failure to pay rent, be recorded in black and white in case of future litigation. If a tenant has failed to pay rent, the landlord will want to make a demand for rent in writing. This serves as a reminder

to the tenant that rent is due, a warning that eviction proceedings may ensue, and also provides documentation for the landlord should the problem persist and there is a need for legal action in the future. To tackle this, landlords must use the Common Law System, and Contract Law to settle the dispute. In the case that the tenant fails to pay rent (for more than the agreed duration), the landlord has a right to claim that the contract was violated thus terminating the agreement, which entitles the landlord to evict the said tenant. However, even with a legal demand letter, it is fair to give the tenant a reasonable time frame before using force to evict the said tenants. When playing fair does not

It is safer to convince the tenant to vacate the premises nicely, especially if you have things in the house that can easily be damaged!” - Dexter Lim

work out, some landlords opt to cut the electricity or water in hopes these tenants would move out, probably the same way we corner rats in infested homes. Others choose to change the locks to stop them from coming in, but that only works if they actually leave. The problem with this is, if anything were to happen the landlord is legally liable for any mishap that occurs within that period of time. The last thing you need is a lawsuit on your hands in this situation. Chris Tan, Managing Partner of Chur Associates says, “In this particular kind of scenario where the landlord’s intention is to recover possession of the property, an eviction order is the best choice to go to. An eviction order could aid the landlord in recovering the possession of the property and any outstanding rental as well as double rental for the overstayed period. Comparing an eviction order with a distress order, one has to understand that a distress order does not terminate the tenancy; it only allows the landlord to recover rent due and payable for a period not exceeding 12 completed months of the tenancy.”

Investors Know the Law’, Elizabeth Siew tells readers that the only way to reclaim possession of the property is through the court of law. If the due date for the tenant is on the 5th of each month, rental is technically considered overdue on the 6th, and can seek relief from the court under the Distress Act 1951 which allows impounding of the tenant’s assets. However, a Distress Order is only an avenue for recovery of rental. In case you want to terminate the tenancy agreement due to tenants breaching the agreement or wrongful usage of premises etc., an Eviction Order can be used. It is a separate action altogether, in court. If there is a provision in the tenancy agreement to allow termination of the tenancy in the event of default by the said tenant, you may file an action for eviction to terminate and regain possession of the premises. However, for

first-time offences, you are required to serve the tenant a notice stating the said breach and give them time to rectify the breach. From an investor’s perspective, Pang Hiok Boon is the view that tenant profiling is important to avoid such pitfall. “The agents I’ve been working with have been doing a good job as they follow strictly based on the stated requirements to screen through tenants as well as in carrying out all the necessary procedures. The problem with directly dealing with tenants is the tendency to use short cuts as well as make emotional decisions which at most times leaves you with bad tenants and a million problems. I’ve learned that you need to be disciplined especially in collecting monthly rental to ensure the tenant doesn’t take advantage of the situation.”

WHAT CAN YOU DO? In one of her books ‘Smart Property www.propertyinsight.com.my MAY 2016 I 29

FEATURE

DEFAULTING YOUR PTPTN LOAN Impacting your dream plans in more ways than one BY: AVINASH SAGRAN

30 | MAY 2016 www.propertyinsight.com.my

etting a letter from a lawyer can make you nervous. University of Malaya postgraduate student Kelvin Kiran Anthony suffered a terrible ordeal when he received a subpoena to appear in court for not paying his National Higher Education Fund Corporation or PTPTN loan. Despite being unemployed and being an active postgraduate student, he had no choice but to strike a deal with the officers on a monthly payment of RM500 to avoid a lengthy legal battle, which would have cost more. He is not the only one with a unfortunate PTPTN loan default story; chemistry graduate Alia Ghani was stopped by immigration because she was blacklisted by PTPTN. This took her by surprise as she had not received any prior notice. She quickly settled her outstanding debt of RM3, 800 to avoid further complications. A teacher who chose to remain anonymous was travelling to a conference that she was organising. She suffered similar complications at the immigration, which resulted in her missing her flight. These are not isolated cases as more drastic measures are taken to clampdown on PTPTN defaulters. PTPTN 101 PTPTN is a government education loan with a flat interest rate of 1% p.a. Most university students vied to obtain the loan to benefit from exceptionally low repayment amounts. Those unsuccessful, settled with other education loans offered by banks with significantly higher interest rates. Of late, many media sources have reported the rising number of university leavers’ defaulting their PTPTN loan. PTPTN’s move to reduce the number of loan approvals, as reported in the news, has caused a public uproar, especially from parents who fear for their children’s well-being. Parents’ anger is understandable because the future of their children’s education future remains unstable but at the same time, the abusive occurrence by ignorant borrowers keeps growing. Although interest rate is kept low to ensure borrowers are not burdened, the large majority tend to defer repayments with unreasonable excuses such as poor management by administrators, selective blacklisting, low salary (despite PTPTN proving a structured repayment scheme accordance to salary) and tedious payment methods.

PTPTN are similar to other loans so it is important for you to keep up with the payments as if you are overdue on any type of loan or credit facility” - Sandeep Grewal

PTPTN loans are issued as means to assist social progression by providing an opportunity to finance education. The rising number of defaulters suggest the loan is not assisting in contributing back to society. Instead, the loan is perceived as a bunch of bad debts. Defaulting on your loan is a serious matter and it has significantly affected the operation of a noble scheme set out by the government. Last year alone 611,056 students did not stick to their scheduled repayment; with over RM5 billion outstanding dues. ALERT It seems PTPTN has switched its main

objective of dispersing loans to chasing after outstanding debtors. Perhaps it is the lack of awareness about the implications of not paying loans that are deterring borrowers from repaying. The body is exercising strong measures by liaising with other cooperation’s to recuperate their losses and teach a lesson or two about financial responsibility to borrowers. This includes: 1. Automatic salary deduction of civil servants who have not or have been inconsistent in making payment 2. Restrictions (possible barring) from leaving the country 3. Blacklisted in the Central Credit

www.propertyinsight.com.my MAY 2016 I 31

FEATURE Reference Information System (CCRIS), which is a Bank Negaradatabase system. This reflects your credit score shared among all financial institutions 4. Legal action, getting summoned to court According to property investor Sandeep Grewal: “Considering CCRIS (Central Credit Reference Information System) has added PTPTN on its list to reflect credit score, banks will now be aware of your overdue status. If there is overdue payments, banks will not approve your loans. But if your instalments are paid on time and no overdue is reflected then it is not a problem. PTPTN is similar to other loans so it is important for you to keep up with the payments schedule, and have the same concern that you have when you default any type of loan or credit facility. You will not be able to obtain other loans such as car loans, property loans or credit cards until the overdue is resolved.” Mike Lee, a senior legal associate, advises borrowers to settle their payment to avoid any legal repercussions. He adds “Being blacklisted would not permanently tarnish your reputation. Quickly remedy the situation by mediating with the officers to come up with a settlement agreement to not suffer from lengthy legal battles.”

32 | MAY 2016 www.propertyinsight.com.my

DON’T POINT FINGER The blame cannot be solely pointed at borrowers who are not servicing their loans. Earlier accounts point to inefficiency of the management. Some borrowers were blindsided by the action taken by authorities without prior notice. They also claim selective persecution. Since the inception in 1997, authorities did not aggressively take measures to combat defaulters; the rising number of higher education opportunities in public or private universities, colleges and polytechnic has increased the demand for PTPTN loans without proper regulations until billions of outstanding dues have gone unpaid. The prospect of purchasing a home and car only dawns upon young adults in their late twenties. If you do not want to be burdened by a negative credit score; act now to service your PTPTN loan. Miichael Yeoh in his recent BLT talk mentions “Before going to the bank make sure you do mortgage planning first; get all the necessary documents ready with a solid contingency planning for six to 12 months payment including full assessment of your credit score.” An anonymous banker warned, “If payment is not smooth, it may affect your chances of getting your loans approved as non-payment would signal to the banks about your attitude and discipline

of serving debts. It also undermines your credit score. The bank uses CCRIS to get to assess your credit behaviour.” These measures have been more prevalent since Bank Negara laid out stricter measures to banks. Legal practitioner Chris Tan says the risk of not paying up PTPTN can be seen as an eyesore to your loan applications and affect your chances of obtaining your dream home because you don’t qualify for loans. Being blacklisted is not the end of it all. Once you are on track with payment, the record will be expunged. MOVING FOWARD PTPTN should place a better yardstick in streamlining loan applicants and enforce better regulations and management in dealing with this matter. PTPTN loan is certainly not a gift for students, it is a scheme devised to assist those in need to finance their education for a better future. Borrowers should have the moral obligation to service their loans accordingly; they indeed need to pay so they don’t deprive the current and future generation off such facility. One would shudder to think if such schemes no longer exist. Furthermore, do consider how being blacklisted and barred from obtaining loans impact your capacity to build a better future for yourself and family.

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FEATURE

AN INSIGHT ON PROPERTY AUCTION Auctions are only for the brave BY: AVINASH SAGRAN

34 | MAY 2016 www.propertyinsight.com.my

urchasing properties through auction is an enticing prospect; as soon as the hammer falls the property is yours. The upside of getting property via auction includes securing below market deals. The entire process can take a month or less, which gives you ample of time to gauge rival bidders’ interests and the prevailing market value. On the downside, auctions are often associated with ‘problem’ homes resulting from poor maintenance, stubborn tenants and other unpleasant ‘backstory’ behind the foreclosed house. Therefore, it is important to execute due diligence to ensure you don’t fall into any pitfalls and

make the auction a success. According to Joel Lee from Just Property “assuming buyers need to take property loan to finance their purchase, not all auction units are safe to buy. Buyers should be careful to look at the terms and conditions of sale, the details of the title and background of the developer if it is under the master title and who will be footing the unpaid bills for the property.” Novice buyers could be blindsided by additional cost which is incurred after their successful bids. Recently, PropertyGuru stated that Malaysians prefer new homes compared to the secondary market.

Sheldon Fernandez, the Country Manager of PropertyGuru, added that the difficulties of dealing with more than one party apart from the developer does not appeal to most Malaysians. Nonetheless, the current market sentiment still tempts buyers to look for any opportunities to purchase below market deals in secondary markets. FOR THE BRAVE Why would anyone venture in buying a property at auction? In theory, an auction provides first chance to snap up certain properties. Property investor Dr. Peter Yee said: “rundown properties located

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FEATURE

One needs to study the properties individually by taking into consideration of the reserved price when purchasing. Well located properties are still highly in demand regardless of how it is sold” - Kit, Au -Yong

at a prime location can be enhanced by cosmetic renovation which would significantly increase the value and purpose of the property.” Given the additional risk, fewer people will be interested in auctions held at a particular location. Obtaining a great deal at second tier locations can be lucrative in the long run. For example, investor Kam Wei Tsung was able to gain six times the profit on properties he bought through auctions in Rawang. Purchasing at fair market value is a smart investment; you essentially determine the price as the lenders are not allowed to profit from the sale. In addition, you can avoid the tiring process of long drawn negotiations with sellers via auctions. Auctions reduce time to purchase a property and the purchasing and closing dates are known. REASONS TO BE CAUTIOUS According to Dr Yee, presence of syndicates and display of favouritism by unscrupulous auctioneers may occur but the best practice is to ignore such unethical individuals. Intimidation tactics include calling bidders through leaked information and posing as bidders at the auction to ward off genuine buyers. Meanwhile, the property’s reserved prices can be manipulated by cartels as they pay off bidders to maintain a low-selling price hence depriving the owner of the actual value of the property. Instances such as these have rung alarm bells. Senior legal associate who choose to be unnamed called for better regulations to clear such corrupted actions. Kit,Au-Yong a valuer from Laurel noted “one needs to study the properties individually by taking into consideration of the reserved price when purchasing. Well-located properties are still highly in demand regardless of how it is sold . With stricter requirements placed by Bank Negara on local banks providing loans, bidders have to be well aware of how the payment processes work. Dr. Yee mentioned if the highest bidder who has placed 10% deposit is unable to pay the

36 | MAY 2016 www.propertyinsight.com.my

remainder 90% within the stipulated period of 90 or 120 days from the initial deposit, the deal is forfeited. There are no systematic schemes available for new home buyers or developers scheme to cushion the financial capacity of purchasing a property. AUCTION SCENE Sally Lee from auction228 mentioned within Greater KL, several areas are designated as hot market areas. The auction properties in Puchong, Keramat, Kepong and Subang still appreciates in value only trailing behind market value between 10% and 20%, depending on the types of properties. Foong Chon Wai, the chief operating officer of Ng Chan Mau indicated auction properties in the year 2016 would witness a rise of a more pricey range of properties as home buyers will not be able to service their

loan upon completion of projects as some had purchased properties on developersâ&#x20AC;&#x2122; interest bearing schemes (DIBS). Furthermore, increasing cost of living has seen a rise in people renting away from the cities, leaving buyers and investors vulnerable to not get rental returns as planned, leaving a serious consequence on their monthly mortgage. These properties might be placed in auctions and buyers with the intention to stay might reap the benefit of getting fair market deals SIMPLE TIPS 1. The first impression is always key to creating a perception that you have a large budget and you can beat the rest. So dress in your finest suits and dresses to knock out the competition by your commanding presence. 2. Be vocal. Directing a question at the

beginning of the auction would make you the focal point. Be firm in the tone of your voice to ensure everyone know you mean business and unnerved inexperienced bidders. 3. Do not get carried away with the hype agents try to create, come in with a game-plan and stick to it. Have a limit to how much you are willing to spend and not suffer a bad investment by getting too emotional. (Has happened to numerous people) 4. Once the auction begins, break down your bids to purposely slow the bidding process. Start at the lowest amount possible to observe other buyers. 5. When dealing with seasoned veterans (agents, auctioneers, lawyers) not forgetting property investors, you have to be confident at all times.

www.propertyinsight.com.my MAY 2016 I 37

DEVELOPER OF THE MONTH

38 | MAY 2016 www.propertyinsight.com.my

I&P GROUP

A SUCCESS STORY OF MERGERS

The Group Managing Director, Datoâ&#x20AC;&#x2122; Ir. Jamaludin Osman shares on the prosperous story of I&P Group

BY: FARA PETIAL

www.propertyinsight.com.my MAY 2016 I 39

DEVELOPER OF THE MONTH

&P Group Sdn Bhd came out tops by winning three accolades at the recent Property Insight Prestigious Developer Awards 2016. The developer bagged the Top 10 Developers in Malaysia, the Best Self-Sustained Development for Temasya Glenmarie and Best Township Development for Alam Impian Award. The developer company is a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB). It was formed in May 2009 after the successful merger and rationalisation exercise between three companies - Island

40 | MAY 2016 www.propertyinsight.com.my

& Peninsular Sdn. Bhd., Pelangi Sdn. Bhd. and Petaling Garden Sdn. Bhd. In order to discover more about this top developer, Property Insight interviewed I&P Group Managing Director, Dato’ Ir. Jamaludin Osman about the company as well as its developments. AGAINST ALL ODDS I&P Group was rising against all odds since the first day it was established. Just like any big mergers in the corporate world, I&P faced its own set of challenges

in terms of revenue and cost synergies and not to mention aligning everyone in the taskforce towards achieving a meaningful corporate mission, vision, and culture. According to Jamaludin, “When we consolidate the whole development company within PNB, the challenge was how to operate as one entity – one developer company. How are we going to pull it together to make money? We decided to be divided into regions – Central Region 1, Central Region 2, Central Region 3 and Southern Region.”

“In this current cautious market, we strategise to keep selling and marketing every project that we have in our pocket. Cash flow management is very important in 2016 while continuing being cost efficient. When you are about to launch a certain project, you have to be doubly sure that your launch will have a certain percentage of take-out. It could not be 100% – it’s just not right to say so, but having a certain percentage of take-out will make your cash flow better.” Jamaludin said cash flow management

is very important in 2016 while continue being cost efficient against the backdrop of a sluggish economy. “Even the market is slow, you need to have enough money to pay the contractor and continue completing the projects. That’s how I personally manage the cash flow of I&P Group – cutting the cost until I see the improvement of the market condition,” Jamaludin advises. TEMASYA GLENMARIE Located 25km west of Kuala Lumpur and within close proximity of Petaling Jaya, Subang Jaya, Shah Alam and Klang, the Temasya 8 project within Temasya Glenmarie consists of commercial, industrial and residential developments intended for high value-added activities and businesses surrounding sales and services and administration. Amenities nearby include four golf courses, shopping centers and is only a 10-minute drive away from Subang Jaya Medical Centre and an 8-minute drive to the upcoming Glenmarie MRT station. Its signature project, Temasya 8 Serviced Apartment is the splendour of opulent design with stylish concepts as a statement of contemporary lifestyle. Enjoy all the conveniences of an urban location alongside the amenities of a luxurious lifestyle where an entire floor is outfitted with facilities on a deck for the leisurely use of its residents. Temasya 8 will also feature exclusive business suites and future developments comprising of commercial space and terraces as well as semi-detached homes. The township has commercial and industrial properties intended for high value-added activities and businesses generally associated with sales and servicing, logistics and administration centres. The residential properties are generally larger than typical homes and target those seeking a convenient urban location connected to major urban areas. Nearby amenities include four golf courses (Glenmarie Golf & Country Club, Saujana Golf & Country Club, Kelab Golf Negara Subang and Kelab Golf Sultan Abdul Aziz Shah), Empire Shopping Gallery and Subang Parade shopping centre. “Temasya Glenmarie is located at a very good location with a great accessibility. In addition to that, the development is built

In this current cautious market, we strategise to keep selling and marketing every project that we have in our pocket. Cash flow management is very important in 2016 while continue being cost efficient” -Dato’ Ir. Jamaludin Osman

close to the upcoming LRT 3 that is now under construction – the LRT Bandar Utama-Klang Line. If you look at the plan, a few stations will be built within the Temasya Glenmarie. I personally think it is only natural for Temasya Glenmarie to be a sustainable development, looking at its unique selling points,” Jamaludin adds. The future development will include a 3 million sqft of mixed commercial space showcasing mixed components that are the epitome of exclusivity as well as terrace and semi-detached homes, condominium and serviced apartments. ALAM IMPIAN Built on the ‘Township of Arts’ concept where art is exhibited literally everywhere, Alam Impian is another testament of I&P Group’s constant innovation in township development sprawled over 1,235 acres of land located in Shah Alam Seksyen 35. Featuring installation of art pieces, landscape and street art, graffiti walls and a 31-acre central park with almost 1,700 trees planted to date in line with its ‘Trees to Green’ initiative. The township will be akin to the largest platform for the arts with features such as installation art pieces, landscape and street art, graffiti walls, an art gallery, linear parks, an amphitheatre and a 31www.propertyinsight.com.my MAY 2016 I 41

DEVELOPER OF THE MONTH acre central town park. These features are aimed at inviting and involving the residents with arts activities. Together with its unique art features, the township also offers modern facilities. There is also a park named ‘Taman Idaman’, which was graced by DYMM Sultan Sharafudin Idris Shah Alhaj Ibni Almarhum Sultan Salahudin Abdul Aziz Shah, is being nurtured to one day be the main landmark for exploration of various forest species in an urban environment. Contemporariness also extends to its facilities and the bungalows, semidetached and double-storey link homes, townhouses, apartments and commercial lots in a township built with safety, security, space and quality in mind. Segregated by precincts with controlled security access points, the streets are decorated with art pieces as well as street furniture in a neighbourhood that will feature homes with a wide selection of innovative designs and facades.

Jamaludin expresses, “As of today, we have only developed probably a quarter of Alam Impian’s 1,235-acre land. It consists of mainly low-density projects. If we are greedy in a sense that we could develop

a lot of apartments on that land, a lot of strata development – which we did not do because we want to maintain the quality of life. This means the landed property will provide you a better quality of life in the future.” FUTURE PROSPECTS As a leader who believes in teamwork, Jamaludin states that “You must work as a team. My motto which is ‘You can do it’ does not mean that you alone. Sometimes there are things that you cannot do it by yourself, but you can of course do it in a team.” “We are planning to launch our Temasya Putra @ Meru, Klang within this year. It is a 400-acre township, which might consist a mixed of affordable houses, low-cost houses and others.” Jamaludin reveals. “Moving forward, there might be no more houses available in Klang Valley. There will be a trend of smaller houses like studio units for example while the people who would want bigger houses need to go to the suburbs area. In the future, there will be no more available land within a certain radius in Kuala Lumpur.” “For investors, they need to buy now. Don’t wait to buy because there are so many things offered by the developers nowadays. By the time the economy has recovered, I don’t think there will be so much of offers from developers. I think the time to invest is now. But, you must wait in two to three years before you can ripe the fruits from your investment,” concludes Jamaludin.

42 | MAY 2016 www.propertyinsight.com.my

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D’LATOUR @ DK CITY, BANDAR SUNWAY Style-Setting. Trend-Blazing BY: FARA PETIAL

Artist’s Impressions

44 | MAY 2016 www.propertyinsight.com.my

Artist’s Impressions

re you looking for the next investment hotspot in Klang Valley? Then, it is highly advisable for you to give special attention to D’latour @ DK City, another integrated development by DK-MY Properties Sdn Bhd. Curving gracefully up into the Bandar Sunway skyline, D’latour is built to match master-class quality and is infused with the most demanding standards, discriminating tastes and meticulous detailing. It is designed with a sky garden that allows natural air flow through towers both horizontally and vertically. The roof top consists of well-designed landscape gardens for healthy living. In addition, various levels between the 5th and 26th floors has open skyways connecting various parts of the towers to the hanging gardens (sky gardens) that are transparent and visible at night, extending the spatial connectivity. The strategically located openings along the skyways provide a spectacular view across the city The development consists of two towers. Tower 1 has 629 units with 23 storeys of Duplex Design Soho (D’latour SoHo) and Tower 2 consists 332 units with 23 storeys of Service Apartment (D’latour Residence). D’latour offers a wide selection of designs and interesting layouts catering for potential buyers and investors. FEATURES & FACILITIES D’latour offers a wide and exciting range of facilities including a swimming pool with a waterfall feature, sunbath area/ water deck, gymnasium room and much more. There

is also a special elevated infinity edge pool with spa seats and shallow water feature for total relaxation and pool side gathering or reading! There is a full panel glass wall gymnasium overlooking the waterfall feature, a game room, kids play zone and a playground which will keep the young ones active and happy anytime of the day. The roof top garden of the towers is equipped with BBQ area, sky-viewing deck, yoga area and more. There are also other common facilities such as surau, nursery, multi-purpose hall/ function room with kitchen facilities and management office. Home buyers can experience comfortably proportioned living and working spaces with refined aesthetics and enhanced with innovative landscaping features. Every unit of D’latour reflects an exquisite balance of space, style and function. D’latour is also built with a multi-tier security system to guard the privacy of residents. There is a grand entrance with a guardhouse, CCTVs installed in a few places, access card for residents as well as 24/7 intercom and patrolling guards. Conveniently located next to Taylor’s University Lakeside Campus, D’Latour places a palette of trendy restaurants, entertainment hotspots, shopping destinations and social amenities at your doorstep. • A stone throw away from Taylor’s University Lakeside Campus • Nearby colleges include Sunway University College, Sunway

Monash University, Metropolitan College, Inti College & Segi University • Adjacent to Puchong toll on the Lebuhraya Damansara-Puchong (LDP) • 3km from new LRT extension line which is under construction & existing KTM Komuter station • Easy access via LDP, KESAS Highway, New Pantai Expressway (NPE) & Federal Highway • 5 minutes from Puchong, Subang Jaya & Petaling Jaya • 15 minutes to Bangsar, Mont’ Kiara & Subang Skypark • 20 minutes to KL city centre and Klang • 25 minutes to KLIA • Established amenities include Sunway Lagoon, Sunway Pyramid, Sunway Medical Centre, TESCO, Carrefour, Giant, IOI Mall, Empire Shopping Gallery, Saujana/ Glenmarie Golf Club & Sime Darby Medical Centre • Proposed feeder bus service Save yourself from the headache of looking for a new safe haven in Klang Valley and visit D’latour sales gallery now! For details, visit www.dkgroup.com.my or call +603-8064 6766.

D’Latour SoHo • Fully furnished package (optional) in various designs for 3-bedroom duplex units with built-ups from 897 sqft onwards • Functional-sized layout • Double volume living area • Balcony overlooking panoramic vistas • Spacious & modern design layout suitable for both work and everyday comfort • Luxurious living spaces D’Latour Residence • Fully furnished package (optional) in various designs for 3-bedroom units with built-ups from 724 sqft onwards • Functional-sized layout • Ensuite master bedroom • Sky Garden on various floors • Kitchen facing balcony CONTACT DETAILS: Address: No. 4, Jalan PPU 3 Taman Perindustrian Puchong Utama 47100 Puchong, Selangor, Malaysia Tel: +603-8064 6766 Fax: +603-8062 6768 Website: www.dkgroup.com.my

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AREA FOCUS

SUNGAI BESI:

ONCE A TIN MINE, NOW A PIECE OF GOLDEN REAL ESTATE The area will see itself transform with the building of Bandar Malaysia where the old rundown airport currently sits BY: PROPERTY INSIGHT

46 | MAY

2016 www.propertyinsight.com.my

ocated 20km off Kuala Lumpur, Sungai Besi still retains its rustic 1930’s appearance and structure with most buildings standing tall, built from wood, earning it the reputation of ‘Tertiary heritage Zone’. The area that was once of the largest man-made holes in the world now has transformed into a robust growing residential and commercial real estate. A real estate agent from Dutamas Properties, Wilson Law says, “Sungai Besi has a new lease of life as all the economic centres are moving towards the southern region of Kuala Lumpur. It is poised to become a central business district for the country. With the emergence of Tun Razak Exchange (TRX), the city’s financial district and Bandar Malaysia, there will be an immense growth within the central business district coupled with good connectivity such as the Terminal Bersepadu Selatan (TBS) and a few major highways, Sungai Besi will certainly be a gem in Kuala Lumpur. All the other measures taken within the surrounding area has become a catalyst to upcoming developments.” CONNECTIVITY & ACCESIBILITY Sungai Besi is easily accessible through the Sungai Besi Highway, also known as BESRAYA which runs through Universiti

Putra Malaysia (UPM) to the MRR2 interchange near Pandan Jaya. In addition to that, Sungai Besi is also reachable via the North-South Expressway Southern Route which is also the longest highway in Malaysia, connecting four states together, namely Selangor, Negeri Sembilan, Melaka and Johor. This town is located nearby areas such as Ampang, Kuala Lumpur and 14 km off Bandar Tasik Selatan, Cheras and Bandar Menjalara. The town also has its own LRT Station served by the Sri Petaling line that has been in operations since 1996. To ease congestion and to encourage the usage of public transport, The Ministry of Federal Territories together with The Ministry of Transport have built the Park N Ride Complex in Sungai Besi on the 8 February 2013 and it has 200 extra parking bays for users’ convenience equipped with lifts, CCTV cameras, toilets and covered pedestrian walkways. LANDMARKS AND AMENITIES Being a relatively old township, Sungai Besi is equipped with many nearby schools, public and private alike, including vernacular schools. Medical Centres are also in abundance in the area, with Columbia Asia Hospital, Cheras being the

www.propertyinsight.com.my MAY 2016 I 47

AREA FOCUS nearest at 9km away. Soon, Sungai Besi will undergo another round of transformation with the building of Bandar Malaysia where the old military airport currently sits. The Sungai Besi Airport used to be the main airport for Kuala Lumpur but is currently used by the Royal Malaysian Air Force as well as the Police and Fire and Rescue services. The 486-acre Bandar Malaysia will be a public transit-oriented city that is designed as a walkable community through a series of safe, secure and pleasant pedestrian and cycling networks, whilst still maintaining its greenery. The government had announced that the Royal Malaysia Air Force (RMAF) base in Sungai Besi will be relocated to Bandar Baru Sendayan in Negeri Sembilan. BANDAR MALAYSIA Bandar Malaysia, three kilometers away from its twin project Tun Razak Exchange, is set to have the most innovative urban solutions for liveability in a new urban ecosystem, relooking at the relationship between people, buildings, traffic and nature in the capital city. “A modern metropolis with high quality living and good connectivity.” That is how the Prime Minister sees Bandar Malaysia – soon to be transformed from the existing Sungai Besi Airport. “It is a cliché to say it but this is going to be the real landmark development for Kuala Lumpur,” he said during a ceremony to mark China Railway Group Ltd’s (CREC) announcement of its regional centre in Bandar Malaysia. The Government expects the development to bring in a huge amount of foreign direct investments, (FDIs) starting with the US$2bil (RM8.14bil) by CREC to build its integrated office complex there. CREC’s announcement comes three months after its successful bid, with its Malaysian partner Iskandar Waterfront Holdings, to acquire a 60% stake in the Bandar Malaysia project from 1MDB Real Estate, at the cost of RM7.41bil. There is also the Kuala Lumpur– Singapore High Speed Rail (HSR) project, which will definitely add more investment value to Sungai Besi area. The project was announced by the Prime Minister in September 2010 and supposedly connects Kuala Lumpur and Johor Bahru 48 | MAY

2016 www.propertyinsight.com.my

PRICE OF LANDED RESIDENTIAL PROPERTIES Terrace PROJECT

PRICE (RM)

BUILT UP (SQ FT)

420,000 – 690,000

1,030 - 2,320

Taman Tasik Damai

500,000 - 1,560,000

1,350 - 3,095.91

Taman Naga Emas

540,000 - 900,000

1,650 - 2,048

Taman Sungai Besi

530,000

4,241

PRICE (RM)

BUILT UP (SQ FT)

395,000 - 605,000

898 - 930

Taman Tasik Damai

2,100,000 – 2,550,000

4,300

Taman Naga Emas

3,130,000

3,240

Taman Castlefield

Source : Henry Butcher Research

Semi-D PROJECT Taman Castlefield

Source : Henry Butcher Research

PRICE OF HIGH-RISE RESIDENTIAL PROPERTIES Apartments PROJECT

PRICE (RM)

BUILT UP (SQ FT)

Taman Sungai Besi Indah

60,000 - 160,000

670 - 828

Desa Pakar Flat

50,000 – 98,000

503 - 659

79,000 – 200,000

600 - 783

Sri Rakyat Apartment

168,000 – 175,000

660 - 667

Pangsapuri Permai

120,000 - 135,000

646

PRICE (RM)

BUILT UP (SQ FT)

Taman Sungai Besi Indah

260,000 – 440,000

850 - 1,286

The Leafz

525,000 – 700,000

750 – 1,409

Sri Mutiara

230,000 - 388,000

813 - 1,235

Midfields

330,000 - 600,000

710 - 1,190

1 Petaling

400,000 - 545,000

905 - 1,141

Taman Naga Emas

Source : Henry Butcher Research

Condominiums PROJECT

Source : Henry Butcher Research

with Singapore. On 19 February 2013, Singapore and Malaysia had officially agreed to build a high-speed rail link between Kuala Lumpur and Singapore by 2020. The construction of the railway was expected to start in the third quarter of 2015. However, an update by the Malaysian Land Public Transport Commission (SPAD) now pushed the commencement of work to 2017, with expected completion in 2022. “For this HSR project, the complexities are much greater and the technology is new in this region and involves two countries. Even the civil design requirements are stricter to ensure the service is safe and reliable. UK is a good example of how efficiently HSR can be developed with the use of local railway skills and foreign HSR expertise,” said a source. The HSR involves a total of 350km. The line will have seven stops — two terminus in Bandar Malaysia in Kuala Lumpur and Jurong East in Singapore, and five transit stations in Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri. The express service between Bandar Malaysia and Jurong East will take 90 minutes instead of four hours by car, while transit service will take 120 minutes on the same route. PROPERTY DEVELOPMENTS The Trion, by Binastra Land is one of the latest developments to unfold in Sungai Besi. Being niche developers, Binastra

Land claim they are always looking out for great lands in good locations thus, the development of their future project, The Trion. “This land is facing Jalan Sungai Besi and is a strategic location for The Trion to be in as we are within the vicinity of Bandar Malaysia,” says General Manager of Binastra Group, Steven Ooi. Within Sungai Besi, the GDV is estimated at RM1.3 billion with a good future prospect of appreciation in prices, as Sunway Velocity, Bandar Malaysia, IKEA and more are all close by.

The Trion from Binastra Land will be one of the unique product launches from Binastra Land. “This will be one of the most exciting mixed developments to be launched by us. You can expect a mix of retail, hotel and services that are full of surprises!” Midfields 2, developed by YTL Land and Development Berhad is a residential comprising 792 units of varying builtup areas from 1,044 sqft to 1,152 sqft. Located in Sungai Besi, Midfields is positioned along the convergence of three

RECENTLY LAUNCHED AND FUTURE DEVELOPMENT Project name

Project by(developer)

Tenure(fh/lh)

Building type

Price psf (rm)

MIN PRICE

MAX PRICE

Yuk Tung Group

Freehold

Serviced Residence / Serviced Apartment

RM860psf - RM870psf

674,180.00

990,000.00

YTL Land & Development Berhad

Leasehold

Serviced Residence / Serviced Apartment

RM477psf

640,000.00

1,600,000.00

Anyaman Residences

ZYNS Development Sdn Bhd

Freehold

Condominium

RM500psf - RM610psf

428,900.00

796,200.00

The Vyne (Block C&D)

Gadang Holdings Berhad

Leasehold

Serviced Residence / Serviced Apartment

RM630psf - RM1109psf

854,980.00

1,608,180.00

Insan Tiara Sdn Bhd

Leasehold

Soho / Sofo / Sovo / Soso

RM734psf

388,000.00

1,510,000.00

Trinity Group Sdn Bhd

Freehold

Condominium

RM600psf

800,000.00

Danau Lumayan Sdn Bhd

Leasehold

Condominium

RM290psf

300,000.00

The Centrina @ Central Residences Midfields 2

The Trax

Trinity Aquata

Residensi Hijauan Lumayan

Source : Henry Butcher Research

www.propertyinsight.com.my MAY 2016 I 49

AREA FOCUS major highways — the Maju Expressway, Federal Highway and Besraya highway — and is only eight minutes’ drive to Mid Valley and 15 minutes to the Kuala Lumpur city centre. In addition to that, Anyaman Residence by ZYNS Development Sdn Bhd has a green landscape with excellent facilities to strike a balanced day to day living. Anyaman is targeted to cater to middle-income families, professionals and investors. The project was launched in August 2013 and is expected to be completed by 2016. As Anyaman strives to have the best of both worlds of luxury and convenience, the

project offers a wide array of recreational, sports and leisure facilities. According to the Managing Director of Armani Media, KK Chua, “With mature environment, Sungai Besi is poised to become an upcoming vibrant community with increasing development within the vicinity of the area. Bandar Malaysia is a development that is set to transform the landscape of southern Kuala Lumpur and is highly complementary to TRX, which is set to be the future financial hub of the state. The allocation of HSR at Bandar Malaysia enhances the area as a transportation hub with close proximity to TBS and existing

railway and highway connections.” The Chief Executive Officer of REI International Holding Sdn Bhd, Dr. Daniele Gambero opines that “Sungai Besi is a goldmine where you can make money through property investment – in condominiums, serviced apartments and residential. The area itself is a piece of art for its well- crafted connectivity to highways and public transportations such as LRT, KLIA Transit. It also has the TBS which connects Greater Kuala Lumpur to the southern region including Singapore. The investment area that you should give more attention to is from the Sungai Besi toll until Bandar Malaysia.” With great accessibility, international connectivity, integrated developments as well as Bandar Malaysia as a catalyst, Sungai Besi is believed to be the ultimate investment area in Kuala Lumpur. It is definitely an investment hotspot you would not want to miss!

Scan here for aerial view video of Sg.Besi

AGENTS SPEAK GEO TEE Property Negotiator, Dreamvest Realty Sungai Besi is strategically located between Kuala Lumpur to Seremban via its highway. With easy access of Sungai Besi LRT, KTM & upcoming KL- Singapore High Speed Rail project, this township will be a major influence in decision making as a property investor. A former Sungai Besi Air Force base (486-acre) will be developed as Bandar Malaysia. No doubt it can be a golden opportunity for future investments with a strong support of international transportation infrastructure & new business opportunities. I believe with a short 15 minute drive to KLCC at a reasonable price, will surely add value to the property in this area. A new market will arise to trigger another regional development internationally. I personally just can’t wait to see Bandar Malaysia.

TONY CHOYGS Negotiator, GS Realty Sdn Bhd The township is easily accessible from the North–South Expressway Southern Route. The main road in Sungai Besi is Jalan Pasar which is the main trading centre. Sometimes it is packed with cars of many tourists who are in town to enjoy the famed seafood. The high speed rail link between Singapore and Kuala Lumpur will likely run between the Republic’s western region or its city centre to Sungai Besi, which has been earmarked by the Malaysian government for redevelopment into a mixed use community and commercial district. Bandar Malaysia here was an integral part of the government’s initiative to propel Malaysia towards becoming a high-income developed economy. Bandar Malaysia is planned at the site of the old Sungai Besi airport. There is a Hottest Mix Development in Sungai Besi. Maju Kuala Lumpur.It is the Maju Group’s answer to affordable urban living. Located in Southern KL, Sungai Besi, only 13 kms from the city centre, Maju Kuala Lumpur boasts of 4,200 units of contemporary and spacious Duplex apartments set in seven 38-storey towers and commercial retail shops and office space.

50 | MAY

2016 www.propertyinsight.com.my

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TUN RAZAK EXCHANGE

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SERDANG RAYA SOUTH

(Proposed (Proposed MRT MRT Station) Station)

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1800 888 299

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1800 1800 1800 1800 888 888 888 888 299 299 299 299 www.decentrum.com.my www.decentrum.com.my www.decentrum.com.my www.decentrum.com.my 1800 888 299 www.decentrum.com.my

PERSONALITY OF THE MONTH

Don’t be afraid to challenge the norm, dare to do something different and achieve extraordinary results” - Gary Chua

ary Chua, the CEO of SMART Financing who is also a recognised financial expert in the property investment industry talks to Property Insight on his investment journey and shares the know-hows in financing your investment.

ATTAINING FINANCIAL

FREEDOM Isn’t that what we all want? Learn how to do it with Gary Chua BY: FARA PETIAL

52 I MAY 2016 www.propertyinsight.com.my

PI: Please share about your career background and what attracted you to property investing? G: I was an ex-senior banker with more than 11 years of banking experience in local and international banks. About 10 years ago, I got attracted to Robert Kiyosaki’s investment teachings, where we need to invest in order to earn passive income so that I don’t need to trade my time for money any more. I started attending property investment related expos and seminars since 2009 to gain more knowledge on how to invest into property to increase my wealth. I soon fell in love with property investment not only because it is one of the safest investment in town, it is also the best tool to hedge against inflation. Most importantly, property investment allows me to leverage on OPM (other people’s money) via bank financing, so that I can do more with less! PI: How did you buy your first property and where did you get your seed money from? G: I bought my first property in 2007. The plan was simple; everybody dreams of owning a house before they settle down, but things certainly weren’t rosy for me. I booked a double-storey landed property at a location where everyone thought I’ve lost my mind because it was priced at RM750k, while properties at more prominent places

PERSONALITY OF THE MONTH

only ranged between RM300k-500k back then. It was extremely tough as I couldn’t afford both down payment and securing a financing of close to RM700k. I tried seeking help from parents but I was abruptly turned down as my father believed that, “If you are buying a property, make sure you can afford it, borrow minimal loan and pay back as soon as possible to save on bank interest.” I went against the odds and purchased the property with the help of my girlfriend back then. PI: Kindly elaborate on your investment strategies. G: I always believed in a balanced strategy. There are properties suitable for rent (keep strategy) and properties that are only good for capital gain (flipping strategy). It is the same concept for me when it comes to primary vs sub-sale as well as the mixture of both commercial and residential. Having said that, I would be focusing a lot more on primary market this year, reason being the challenging time (soft market) like now! Most importantly, buying a primary

property allows me to have the waiting period of three to four years and in my opinion the market would have been rebounded by then. Buying sub-sales now might be challenging as we’re fighting in a sea of blood to look for tenants or buyers PI: How do you manage your investments and tenants? G: Honestly, I try my best to be an organised person. I have built trackers to monitor all my investments and record details like due dates, instalment amount, validity period and so on. This is crucial to manage things better and I need this to remind myself of these things every month. As for tenants, I try and manage them on my own most of the time. I also outsource the work to tenant management teams or agents at times. PI: Are there any unforgettable challenges you have faced when investing and how did you overcome them? G: Buying my first property, because I started investing in shares before property. And my shares remisier is a very

experienced person. I follow his investment advice like my mentor. But he is a typically conservative person and believes that not every day is a good day for long term investments like property. I still remember when I first told him that I have booked a house. He said: “Gary, the economy is super bad, and you are buying a piece of rubbish, two years later upon completion I’ll buy over your house at RM150k only.” It was a nightmare for me to go against the odds and purchase that property. We gave ourselves a typical reason of buying it for own stay to soothe our dramatic adventure. Fortunately, it is a good property and it has appreciated three times in value as of today. PI: How do you define good deals? G: I define good deals based on researching on these factors: 1. Package - price, offers like free legal fee and etc. 2. Location 3. Accessibility - Public transportation 4. Financing - number of panel banks & property value given www.propertyinsight.com.my MAY 2016 I 53

PERSONALITY OF THE MONTH 5. Future catalyst like big township, shopping malls, universities, new office area 6. The project (build up, density, quality) and the developer (reputable & reliability) PI: Is it true that it’s much more difficult to get our loans approved these days? How should we manage it? G: The approval rate reported by BNM shows it has dropped lower this year with 38% & 40% in Jan and Feb respectively vs last year at 50%+. The key issue is that most banks are facing high loan to deposit ratio challenge. This means banks’ available funds are running low. This has forced banks to tighten their lending criteria in order to lend less and as a result, only better quality customers get loans from banks. In order to stay on top of the game in securing a financing from bank, one need s to show good capacity to repay via income documents and good records in CCRIS. PI: Tell us about Smart Financing. Where did you get the inspiration to establish the company? G: We saw a gap between the banks and consumers. Most of the consumers out there do not know what the banks want hence they are unable to secure financing to fund their dream homes. SMART Financing educates consumers on ways

54 I MAY 2016 www.propertyinsight.com.my

to secure loans from banks and maximise their portfolio with confidence. PI: What does Smart Financing do for the people? G: We have grown over time and are now inspired to be a One Stop Centre for consumers. SMART Financing education covers a lot of things including how to identify a great property to invest, to getting it financed and how to enhance the property value to sell or rent out quickly thereafter. We have built a solid ecosystem that consist of partners like lawyers, bankers, ID, agent, tenant management team, company secretary, accountant and more to help members to invest safely and significantly inch closer to achieving financial freedom. PI: What are your suggestions for Gen-Y who would like to secure seed money to buy their first house? 1. Recently, Budget 2016 has announced ‘Skim Rumah PertamaKu’ that gives 100% financing to first time home buyers. 2. It is always okay to get help from family members for the seed money. 3. Do not overly spend on cars and credit cards. This will definitely impact the affordability in getting home financing. 4. Last but not least is to consider a joint venture with someone you can trust to

invest together. PI: What are the common misconceptions that people have in financing property? G: The common misconception that the market has is that loans are bad and that we need to get out of debts. The actual fact is, property financing is the cheapest financing option available in town and it allows you to do more with less! How often you get to own something by just paying 10% of the actual value? For example, you are just paying RM100k (10%) and obtain RM900k (90%) financing from the bank to purchase a property worth RM1 million. If you try to save up RM1 million, the property would likely have appreciated double or triple fold in value and chances of owning that property would seem more distant. PI: Three tips for people who want to invest in properties 1. Don’t wait, make today the day to kick start your property investment journey. 2. Learn first and equip yourself with the right knowledge before investing into property Leverage SMARTly to grow your wealth significantly in achieving financial freedom! 3. It is not easy for the first timers – be it home buyers or investors, but it is not impossible. Gary Chua is living proof that we can always achieve what we want as long as we believe in ourselves and thrive towards it.

ROOKIE INVESTOR

REAPING THE FRUITS OF ‘FLIPPING’ AT 24 When speaking on strategies, do not let Nicholas’s smile fool you, he is not your average 24 year old, but in fact is currently guiding people through their own property investing journeys BY: NATASHA GIDEON

www.propertyinsight.com.my MAY 2016 I 55

ROOKIE INVESTOR

here is a lack of awareness amongst the younger generation when it comes to property investing. It is perhaps one of the least discussed topic amongst peers, and thus we can’t blame the older generation to have the perception that the youth are naïve in investing in their own future. Truth be told, many younger investors are emerging, and building decent investment portfolios. Nicholas Yap is one of them, and he shares his journey with Property Insight. One would not suspect Nicholas to be a young and successful investor just by looking at him. The 24 year-old looks like any other Gen-Y kid, but is an extremely ambitious entrepreneur whom believes in creating and sustaining good relationships with people. “I believe the key to one’s success is consistency, determination and confidence. When we have these in our mind, anything is possible.” 56 | MAY

2016 www.propertyinsight.com.my

When asked about being a young investor, the humble brood from Petaling Jaya exclaims, “Honestly speaking, I am very proud of my achievements ever since I started investing in properties 3 years ago. This opportunity has helped me grow not only as an investor but also as a person. I am more responsible, and careful with money. It’s also great to inspire my peers to do what I do. If I can do it, so can they. It is not about how rich you are in order to get started in property investing but how financially educated you need to be.” Nicholas thanks his mentor Mr. Gary Chua, from Smart Financing, for being his mentor in his journey towards being an investor. Property investing has always intrigued Nicholas since a young age when relatives would talk about ‘flipping’ properties and making profit. “This actually caught my attention and from that day, I started finding ways to buy my first property. It’s true when they say, the company you mix with shapes

you in some way or rather. True enough, I was so inspired by them and that made me pursue this passionately.” Behind every successful person, is a great support system and Nicholas has his parents to thank for that. “My dad was especially fond of property investment and had invested in some. When he saw me taking an interest in it, he held my hand, convinced my mother (who is also equally supportive) and went all the way in trusting and investing together with me.” They say your first will always be the one you will forever remember. For Nicholas, his first property was a low cost sub sale unit in 2014. “Unlike any other day, this was one of the most remarkable moments of my life because I never knew that I would be signing any S&P Agreement so soon at a young age (22 Years old). It was hard to believe that I am actually doing it, actually buying my first property, actually committing myself to something that I have

ROOKIE INVESTOR always wanted ever since I was 17 years old. I would say it was a dream come true but I acted as if it wasn’t my first rodeo.” Nicholas started with a different plan in mind altogether. He saved up money by working multiple jobs, but not to buy property. “My first job was a part time store assistant at my uncle’s company but I also did photo shoots, photography, videography, modelling and acting. Just as I had saved up enough for a car, I changed my mind and decided property investing is the way to go. Best decision I have ever made in my life.” Since 2014, Nicholas now has several properties from both residential and commercial. “I currently have more than 3 properties. The most expensive of all so far is valued at RM 1.5million.” He also adds that the challenge in investing at a young age is usually applying for bank loans. “Each bank reviews their clients differently

Just as I had saved up enough for a car, I changed my mind and decided property investing is the way to go. Best decision I have ever made in my life”

so it is always important to be one step ahead before submitting your application.” When speaking on strategies, do not let Nicholas’s smile fool you, he is not your average 24 year old, but in fact is currently guiding people through their own property investing journeys. He speaks strategy like Shebby Singh speaks football. “What you do with your property actually depends on the property itself. If I can acquire a good rental yield for that specific property, then I would rather keep it and make my passive income from there. So far, the most profitable way to earn is still by flipping a property as heard from my more experienced investors. I always have 2 of each property in the same location to have better options. Personally I still prefer flipping and would go for it if the ROI (Return On Investment) is good.” “Cheap isn’t always necessary a good

deal. Usually the case for normal investors that I’ve known is that they usually buy cheap deals and hoping to make profit out of it. How I search for my good deals is definitely by doing extensive research. Of course with the help of my network of experienced investors in the property community, I’m lucky to find good deals everywhere,” says Nicholas when asked about getting good deals. To be successful, you must first learn the patterns of other successful people. Nicholas encourages young investors to start now, and never wait. “One must be willing to learn how to invest in assets first rather than looking at liabilities. The key point in diving into property investing is financing and the process of buying a property. I personally have a few mentors out there but I must specify that one of them is through a book I read many years ago,

- Nicholas Yap

“Rich Dad, Poor Dad” by Robert Kiyosaki. A good book to pick up for individuals who want to learn about investing and one of the cheapest way as well.” “There are no bad or good times to buying a property, just the right time. Instead of saying, ‘I am too young, I do not have enough capital or this simply is not the right time’, you should be thinking of questions like ‘How do I buy my first property?’ rather than stalling for no reason.” The year may be slow in the property market but that does not mean Nicholas is anywhere close to slowing down. This year he has set a goal to invest in small business with the potential to grow into public listed companies as shareholders, but also not forgetting his own business as well. Who says Gen-Y’s are all about iPhones and Starbucks?

www.propertyinsight.com.my MAY 2016 I 57

INVESTOR NEXT DOOR

FOLLOW ME, START FROM

It is never too late to start BY: AVINASH SAGRAN

pon graduation, Dexter Lim Cheng Yew found himself in a position like any other fresh graduates; exploring different jobs almost every year. For Dexter, it just didn’t make sense to spend the prime years of one’s life working for someone else, and at the end of the day, being unappreciated. At the same time, he came across a book by Robert Kiyosaki, Rich Dad Poor Dad, and it dawned on him that financial freedom is the only way for him to craft his own life. In 2007, Dexter attended numerous previews for business and investment seminars in the quest to better equip his knowledge. Out of the many previews, the only one that he could connect with was Kam. “Work once and get paid for life”, grabbed his attention and he never looked back since. STARTING YOUR JOURNEY Dexter encourages future investors to begin the journey with the right system. Knowing next to nothing in properties, and wanting to invest, is dangerous. He believes in “Making money buying the property, making money holding the property, and making money selling the property, and we decide whether we want to give away the 58 I MAY 2016 www.propertyinsight.com.my

property or not.” So there is no room for mistakes. Before embarking on this rollercoaster journey, make sure you have full support from your partner; as the journey is long and challenging. With the right support system in place, it’ll make the journey a little less intimidating. “If not for Natalie, we wouldn’t be where we are today. We both had similar objectives so we were in it together.”

Preparing a significant lifestyle change is not easy. “We had to believe in delayed gratification to succeed in our quest. It was tough not going out for yam cha, movies and hangouts as we spent our ‘dating time’ identifying target markets, exploring target areas, and viewing properties. YOU ALWAYS NEED A GAME PLAN To achieve success in any game, the most important is to always have a plan.

INVESTOR NEXT DOOR It is all too easy to run off the track without realizing it, and making mistakes in property investment could cost you at least 5-10 years to rectify the errors. DEXTER’S GAME PLAN 1. Apartment/condo below RM200,000; 2. At least 20% below market price; 3. Positive cash flow at least 2.5 times the Fixed Deposit (FD) date; 4. Target Market: (Student/working adult) With the game plan firmly set, he then started to look for properties to invest in. He follows the ratio of 100: 10: 3: 1. Look at 100 properties, finalise on 10 properties, make offers for 3 properties, and buy only 1 property. Following this approach, it meant that he’ll need to make sure that the potential property has to fit all the set criteria’s, and there’s never any rush to get into any deals. As there are always good deals out in the market. MY STORY “Our first purchase was only after 14 months after attending the property investment seminar. At that time, I was doing a superman small business. So income was neither consistent nor strong. But we kept believing that “If the deal is good enough, the money will come” “It took a lot of gruelling research and exploring to understand the property market. And the journey was not easy as we were not in a financial position to make any mistakes. During the journey, we encountered unscrupulous, rude, and weird individuals who ‘tested’ us in every way imaginable. The spirit of perseverance is key to continue on this journey”. We were still working on our numbers when we stumbled across a deal in Sunway, the market value was RM160,000 but it was going for RM120,000. So we thought, it’s just going to be another viewing. During that time I was still doing the superman small business. Will I be able to secure the loan? What about the down payment? All these thoughts were playing in our minds. And then I decided to flip a coin. It wasn’t to let the coin decide our fate, but at that moment, your heart will tell you what you really want. So we decided to proceed with the deal.

And we issued a cheque of RM2,400 to the agent (of which we had no idea just how much we had left in the savings account!) and told him that we’ll advise him when he can deposit the cheque. We then quickly called the bank and found out that we had RM2,40x.xx which was just enough to cover for the deposit! In a short period of 3 years, we managed to acquire a RM10million property portfolio. INVESTING IN THE CURRENT MARKET Economic slowdown? Tough times? Ask yourself when it was ever easy! Follow the game plan suited to your needs and requirements, and you’ll always be making money when you buy the property(s). Take action suited to the current market, Dexter states that at the current moment, “there are more sellers than buyers, some who might be looking for a quick liquidation; hence finding lucrative deals is a high possibility. Last year, we bought two below market value units at 26% and 30% respectively.” The emphasis is to always ensure you profit when you purchase. He advises investors to have two separate lists; The Hot List, and the Observation List. The Hotlist is for potential areas or properties of which there might be below market value deals that you can invest in within the next 3-6 months. And the Observation List is for properties that fit into your criteria, and you’re looking to get in when the numbers are right. This might easily be a 12 months to 24months wait. There’s never any rush to get into any deals. “Initially in 2007 we were surveying RC in Sunway, but there were 2 empty plots of undeveloped land just opposite; so we placed it on our observation list before revisiting the unit in 2010 once the surrounding land has been fully built up. Dexter says those wanting to venture into commercial properties should be mentally prepared to face bigger challenges. “Having a big appetite is not enough but the mental strength on dealing with numerous parties – including high profile ones – plays a huge part in dealing with a successful commercial portfolio.” DUE DILIGENCE According to Dexter, property gurus can advise on hotspots but investors will still have to do their own due diligence and not be swayed by the decisions made by

others. Another area to research are sub-sale markets. All of the properties that Dexter has bought so far has been from the sub-sale markets. For this market, the property(s) is physically there and usually it’ll be in a matured area, so buyers will not be hit by surprises. “We invest by gauging the developments surrounding the area to help understand the relative value within the area.” For newer locations, it is the buyers’ responsibility to do due diligence on the developers. Finally, Dexter advises those who venture into property investing to know Your Big Why. “Know your own big picture. Why are you on this journey? Why is it important for you? You need to truly know what you want; If not, you’ll not be able to go too far on this journey simply because you’ve not discovered what truly motivates you. Furthermore, with so many people buying properties using the Hope Strategy (Buy, hoping that it’ll appreciate in the future) that would be the biggest risk of all. So it is very important to know what’s your objective(s) before getting into any deals

PROPERTY INVESTMENT PROPERTY 1 Location

Sunway

Property type

Walk up apartment

Purchase value (2008)

RM120,000

Market value (2016) RM500,000 Price psf

RM121

Rental per month

RM1,800

Rental yield

18%

Loan margin

90%

Loan tenure

30 Years

PROPERTY 2 Location

Subang

Property type

Condo

Purchase value 2009)

RM220,000

Market value (2016)

RM550,000

Price psf

RM227

Rental per month

RM1800

Rental yield

9.8%

Loan margin

90%

Loan tenure

30 Years

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INDUSTRY INSIGHT

INVESTING WITH CBD PROPERTIES Expansion beyond boundaries into the ASEAN market BY: FARA PETIAL

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BD Properties Sdn. Bhd. is one of Malaysia’s leading real estate companies registered with the Board of Values, Appraisers, and Estate Agents Malaysia and is also a member of The Malaysian Institute of Estate Agents (MIEA). CBD Group Managing Director Dato’ Adrian Wang started up the agency in 2007 with only four Real Estate Negotiators (RENs). Adrian’s interest in the real estate industry only developed much later in his career. A graduate of the Oklahoma State University (USA) in the field of Science Civil Engineering, he started his career as a Civil Engineer at KTA (Sarawak) Sdn. Bhd. “After three years with KTA (Sarawak), I discovered my interest is in the sales and marketing department. Thereafter I became a sales engineer.” Adrian’s agency differs from the others because they utilise the internet as a business tool. “Our agency stood out from the rest in our starting years as we have our own website to encourage our agents to be actively engaged online. Instead of just doing branding for the company, we help the agents do personal branding as well. Our company vision is ‘To connect the world through information technology and relationship networking, as well as building a borderless business setting in the real estate industry’. Hence, I believe that our way of doing business is very different from

other agencies.” CBD Properties is on its 9th year of operation today with around 350 agents collectively from all over peninsular Malaysia. Its agents represent CBD in a few services, namely: high profile real estate agency, corporate real estate, Malaysia My Second Home (MM2H), auctions, overseas property investment, retail, and tenant mix consultation as well as project marketing. PHILOSOPHICAL JOURNEY Every successful leader has their own set of principles that they hold on to. As for Adrian, he believes in completing tomorrow’s tasks today. He upholds the welfare of all his agents, customers and employees. “When people’s welfare are taken care of, they’ll naturally perform better because the motivation comes from a heart of contentment and security. They are encouraged to work towards professionalism, integrity and accountability.” “I equip my agents with negotiating skills and business knowledge by frequently organizing training, leadership workshops, and monthly sharing sessions,” Adrian adds. “One of the biggest challenges is when I need to get my core team to move together at my pace,” says Adrian. “I am ready to move at a much faster pace but my team may not be prepared or well-equipped yet to move along with me. Therefore, I

We aim to grow from a medium-sized agency to a large scale agency in the next 5 years and to develop a system and culture in line with our company Vision and Mission” - Dato’ Adrian Wang

provide training, personal coaching, and invite professional trainers from other organizations to conduct workshops and seminars.” CBD Properties was once entrusted by its developer clients to revive some dormant projects. “During 2008 to 2010, my team and I managed to revive those projects for our developers. Many (of these) projects that were not selling well amongst customers were sold off due to the creative marketing and attractive promotion package, as well as the hard work of our team of agents. Hence, those years were

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INDUSTRY INSIGHT full of rewards in the form of meals, incentive trips, and great achievements together.” CHOOSING THE RIGHT REAL ESTATE AGENCY It is important to choose the right real estate agency to negotiate on behalf of home buyers. According to Adrian, “The right real estate agency will be realiable in ensuring a smooth dealing process. When you pay your Earnest Deposit, the real estate agency becomes a stakeholder. An established agency will have sufficient insurance for your coverage. We will make sure that we screen through the seller’s background and do a due diligence checking before marketing the property. An established agency will have a valid licence and is listed in the BOVAEA (Board of Values, Appraisers and Estate Agents Malaysia) website.” And of course, do not fall for the unscrupulous agents! They jeopardise the nature of our business by not following the guidelines outlined by BOVAEA. They’re not working with the customers’ interest in mind, but for short-term goals in earning fast money. To prevent this, BOVAEA requires all agents to register, failing which the authority can take action against them.” Adrian defines a successful agent as: • Having good negotiation or communication skills • Passionate, goal-driven, having faith in their dreams, keen to learn • Determined and committed HOME BUYERS It is a concern nowadays for those who want to purchase their first home during these challenging times. Adrian advises, “For middle-income earners with less than RM8,000 per month, they can register online with (1Malaysia People’s Housing Programme (PR1MA) or Rumah Selangorku to purchase their first home. The property is subsidized by the developer and the government. As a buyer, one should look for properties closer to their working area and public transportations. They should consider a reputable developer who can deliver the project on time. Besides, they should 62 | MAY

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do more research and comparison before making the down payment. They should also source for smart financial package from money lenders.” “We lack landed houses catered to middleincome buyers. We need more landed houses and two-storey townhouses ranging from RM400,000 to RM600,000 a unit. We are also lacking in two or three-storey shop offices, as there is a high demand for it.” “The government should give more incentives for developers to build these type of houses, offer attractive packages and carry out easy ownership schemes. They should also speed up authority approval so that construction costs can be brought down. Another way is to adapt a new method of construction, such as erecting precast houses,” Adrian suggests. ‘GO BEYOND BOUNDARIES’ “As our tagline suggests, we dare to say that there isn’t any real estate agency from Malaysia that has gone beyond the boundaries of our country. Most of the real estate agencies in our neighbouring country such as in Singapore, have already gone into the overseas market. Hence, we are looking to expand our presence into the ASEAN market.”

“As for our agents, they should empower themselves with knowledge on overseas properties at the tip of their fingers, such as those in China, Australia, Japan, United Kingdom, Cambodia, Thailand and etc.” CBD’s plan is to expand its territories into other cities such as Kuantan, Ipoh, Kuching and others. Adrian shares, “When that is achieved, we want to tap into the ASEAN market next. We aim to grow from a medium-sized agency to a large scale agency in the next 5 years and to develop a system and culture in line with our company Vision and Mission.” For the young generation who would love to jump on the bandwagon, Adrian personally emphasised that they must look for an agency that can provide solid guidance in the journey of becoming an aspiring agent. “The agency must be able to support, train and motivate you to grow together with them.” “As for the agent themselves, they should prepare to be committed, hardworking, realistic and willing to sacrifice time for the sake of their clients. They must be able to work independently, are self-motivated, disciplined and longterm goal-oriented,” concludes Adrian.

THE MAKEOVER GUYS What started out as a solution for property investors, is now a full-fledged service that is high in demand. The idea is to balance out budget and style by minimising the cost of production by way of self-paint and using recycled items, among others. BY: NATASHA GIDEON

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he founder of The Makeover Guys, Gavin Liew, and Vince Koh not only convert homes into masterpieces, they also create an environment that embraces the transformed property. The idea began way back when both started investing in the property market. “We understand how difficult it is to juggle work and taking care of your properties especially with a 9 to 5 job,” explains Liew. Koh adds that there are usually not many options when you hire good interior designers and the process is costly. “We saw a loophole, a perfect opportunity to enter the market and fill that vacuum.” With that lightbulb of an idea, the two of them started their interior design career by experimenting on friend’s apartments or houses. “We had a lot of encouragement. Not only did our friends allow us to experiment with their houses, so did a few investors and we managed to get good feedback.” The Makeover Guys are not just Liew and Koh, but a few friends who make up the family and the dynamic team of 14. “They’re (the team) extremely passionate about what they do and we have worked really well together. We have similar tastes and this helps with the dynamics of the team, which is why we are also so close,” says Liew with a smile of pride. The units made over by the Make Over guys possess a very minimalistic, classy and rustic feel. At one glance, these units look like they would cost a bomb, but The Makeover Guys balance out their budget by minimising the cost of production, for example,selfpainting the property. Additionally, the art pieces, centerpieces, and decorations are made of recycled items. “We create everything possible by ourselves. The cost may be cheap, but we make it work. We recycle things like the leftover wallpaper, or used bottles to be used as centerpieces.” And the strategy does work, like a charm. ON STAYING FRESH It would be a challenge for a small team of creative geniuses to constantly get new ideas and inspirations for each and every unit they have to make over. To ensure ideas stay fresh, they meet up weekly for brainstorming sessions and try re-creating the same designs with cheaper

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materials. “It is important to ensure these designs are not only attractive but practical and functional,” adds Koh. The strategy that they use is not a big secret and it has been applied by many, but the attention to detail makes all the difference. “We are very tenant-centric, being investors ourselves. For example, if the investor mentions that the demographic he aims to rent out to are students, we have the vital information in mind already,” says Liew. “We know there and then the unit will be shared, so we create that sort of student

environment, keep it simple but comfy. The kitchen will be minimally designed and focus more on the living area and the rooms,” explains Koh. The additional service promised by The Makeover Guys is photography and advertising. They will take excellent, highresolution pictures that encompass the view and feel of your unit and market it out for you. “The key to renting out units is to stand out than the rest,” Koh says. For example, a simple studio unit in Bukit Jalil looking like a Beverly Hills bachelor pad is guaranteed to get a new tenant in no time.

OF TIGERS AND MEN Among their favourite projects was the makeover of one property that was quirkily designed. “It was a whirlwind of patterns on steroids. We had to really sit down and plan out how to change so much but spend less. It was a challenge,” sighed Koh. “The problem was that the owner did not see the design when he bought it. There was a vertically aligned brick wall, and across from that, tiger printed walls. Imagine it, and you will understand why the unit was unable to be rented out.” BEFORE

The team had then brought in a senior designer to lead the make over the unit within a week and upon completion, it was immediately rented out with a 3-year contract. NOT SLOWING DOWN The Makeover Guys are making a mark in the industry even with their competitors trailing behind. They are confident of their pace and success. “We will continue to do what we love and venture into bigger horizons. We hope to cover the Southern Region with a branch in Johor Baharu. The Makeover Guys will strengthen its 3 main pillars which

are strategy, time-sensitivity and marketing to cater better for investors,” Liew explained when asked about what is in store for the team in the near future. What started out as a solution for property investors, is now a full-fledged service with high-demand. The KPI is simple: to make over and to market. Once a transformed property is rented out or sold, the team knows they have reached their goal. But that only pushes them to go further. The Makeover Guys do not just transform your properties; they give it so much life you would want to rent your own unit! AFTER

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DESTINATION - RETREAT

KIM HAUS

@ PENANG Bed and breakfast for the yuppies and free-spirited travellers BY: FARA PETIAL IMAGE COURTESY: KIM HAUS

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DESTINATION - RETREAT

ust recently, I went to Penang for Property Insight’s Social night at the island. Since I would be staying by myself, I looked for a safe place that is convenient and suitable for those travelling alone. While I was searching on Airbnb. com, I came across a property named Kim Haus Loft. JOURNEY TO KIM HAUS Once I reached the Penang International Airport, I took a cab to Kim Haus Loft, located at Campbell Street, Georgetown. It took me 30 minutes to reach there, which I thought was cost and time effective. The exterior design is exquisite, and the interior design is splendid! That was my impression when I was looking around while waiting for the receptionist to hand me my room key. Kim Haus was originally a renowned goldsmith ‘Kim How’, now revamped and turned into café, bakery, restaurant and bar – everything under one roof! Kim How Goldsmith was a post war building that was established in the 1940’s selling fine jewelleries. When it was refurbished, the building’s original structure and selected features were maintained so customers will be thrilled to find goldsmiths’ tools and equipment there. The result is a showcase gallery with some fine touches that gives the place a contemporary feel with a hint of nostalgia. It definitely suits the discerning yuppies and free-spirited. I stayed in Kim Haus Loft 7 – a private room that can accommodate two persons. There was one bed, with one door-less bathroom. It was a relief that I was travelling alone! Imagine if I was staying with one of my colleagues? But do you know the best thing about this bed and breakfast property? The bed! The bed was very comfy! With white bed sheets and a blanket, it felt like I was sleeping on a cloud. I kid you not, I really have to credit Kim Haus for its bed! FOOD & EVENTS Kim Haus also offers you a tasteful dining

experience with its dishes (with special sauces) and light bites baked by their in-house Chef G. Some of the dishes are served with its in-HAUS breads and buns that are baked freshly. Kim Haus is also a treat for health conscious diners! Most of its food, including desserts, are prepared with high quality and fresh ingredients with no added preservatives. Healthy yet delicious juices too are served with no added sugar or water. Kim Haus is also well-known among the yuppies in Penang for its events space! The old vault room in the building has been transformed into a VIP room and is available for special events as well as walkins but be warned, it’s on a first-come-firstserve basis. They have had Poetry & Music Fest, performances by independent groups namely The Travellers’ Band and others, as well as open mic events that shines the spotlight on hidden talents in Penang!

Apart from that, Kim Haus has also hosted property events such as Property Talk by Miichael Yeoh. Kim Haus has everything in its building. With easy accessibility and connectivity to tourism hotspots (food!) in Penang such as Nasi Kandar Line Clear, Pasembur at Padang Kota Lama, Ayer Itam Penang Assam Laksa, and is close to the venue of our Social Night, M20 – Mansion Twenty.

ABOUT KIM HAUS Address: No. 9 & 11, Campbell Street, Lebuh Carnarvon, Penang, 10450 George Town Tel: 016 330 1515 E-mail: kimhaus1515@gmail.com Opening Hours: Monday – Sunday (08:00 a.m. - 23:00 p.m.) www.propertyinsight.com.my MAY 2016 I 67

LEGAL

OBSERVING THE DEED OF MUTUAL COVENANTS IN GATED AND GUARDED COMMUNITIES

he Federal Court of Malaysia, had in November 2015, delivered a landmark decision in the case of Bandar Eco-Setia Sdn Bhd v Angelane Eng, concerning deed of mutual covenants within gated and guarded housing project BACKGROUND OF CASE In this case, the homeowner bought a piece of vacant bungalow lot within the project known as Setia Eco Park, Shah Alam. The sale and purchase agreement and deed of mutual covenants were signed in 2004. The homeowner submitted the building plan for the developerâ&#x20AC;&#x2122;s approval in 2007 for the construction of her bungalow. The construction guidelines of the deed of mutual covenants stated that the height limit for building within this project is 12 metres. Pursuant to review panelâ&#x20AC;&#x2122;s decision, the height limit was relaxed to 12.192 metres and the design for construction consent for this building was issued by the developer based on the relaxed limit. Thereafter, the homeowner commenced construction of the building. In the course of construction, the homeowner made variation to the structure and design of the building, citing feng-shui as reason. She was advised by a feng-shui master that the original design would not have a positive flow of energy and would bring bad luck to her family. Although her architect advised that such variation would offend the provisions of the deed of mutual covenants, she instructed the construction to be continued and as a result of the variation the house stood at the height of 14.4974 meters. An inspection was done in mid-2009 by the developer. The developer demanded the homeowner to carry out rectification works. However, despite the non-compliance by the homeowner, the developer granted 5%

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rebate of purchase price to her. This was an incentive to all homeowners of vacant bungalow lots for completing construction within a specific time frame from the date of sale and purchase agreement then. By

end of 2009, the homeowner moved in to the completed house. The developer issued stop work notice to the homeowner on 31 December 2009 and commenced legal action on 25 April 2011.

ARGUMENTS IN COURT The homeowner argued that this is a case of selective prosecution. It was revealed that as of the date of trial, 40 out of 66 completed houses within the project exceeded the height limit set by the deed of mutual covenants. The developer only took action against 10 homeowners whose houses exceeded the height limit. Besides that, the homeowner also cited the defence of Estoppel (a legal principle which prevents a party from taking legal action due to its own action or inaction). It was argued that the developer has not taken sufficient positive action to prevent variation of structure and design exceeding height limit. In addition thereto, the developer has also given monetary incentive to the homeowner for completion of the building. DECISION – THE LEGAL POSITION Question to be decided by the Federal Court was: “Where a deed of mutual covenant constitutes a contract between the developer and a homeowner and all homeowners inter se, whether the defence of acquiescence or estoppel is available when the developer’s actions or inaction do not bind the other homeowners?” The Federal Court referring to a Hong Kong case of Taikoo Shing (Management) Ltd v. Trillon (HK) Ltd, held that such defence is not available to the homeowner. The developer in this case is managing the housing project as the estate manager. Such defence relied by the homeowner ceased to operate as the developer is trustee for enforcement of the covenants on behalf of the other homeowners. The Federal Court also granted specific performance against the homeowner, which means that the homeowner must observe the deed of mutual covenants and remove or demolish such additional structure exceeding the permitted height. It was also observed that the homeowner having obtained approval for the original design and plan for her bungalow, had then proceeded to make a variation without getting approval. The developer had not been informed about the variation until an inspection was conducted. Such overt acts suggested that the homeowner was merely taking a risk or pushing her luck

when she decided to erect a pitched roof which was higher than the approved limit, knowing that she was in breach of the covenant. Thus the homeowner in relying on the equitable defences did not come with clean hands. REFUSAL TO SIGN DMC – IMPLIEDLY BOUND At this juncture, it is also essential to discuss situation where a homeowner refuses to sign the deed of mutual covenants. In the 2013 case of Dr Christian Jurgen Kaul v Meru Valley Resort Bhd, the homeowner bought a property in the gated and guarded community. Although he was willing to pay for security services and utility deposits, he refused to sign the deed of mutual covenants. The High Court held that by buying into concept of resort living, it was implied that the homeowner had agreed to abide with the contractual obligations of the previous owner with the developer and also between other homeowners. The Court also held that there was nothing objectionable or unreasonable for the developer to require the homeowner to sign the deed of mutual covenants before the developer supplied services to the homeowner. Implications on gated and guarded community The cases above has rose various implications in gated and guarded community: 1. Notwithstanding that the design and structure may have been approved by local council, the developer or the estate manager of a housing project has power to refuse its consent for construction, if the proposed design and structure violates the provisions in the deed of mutual covenants. 2. The powers to enforce provisions under the deed of mutual covenants would not be restricted by doctrine of estoppel. In the event any personnel or

previous estate management of a project refuses or neglects to take action against errant homeowners, the current estate management is not deterred from taking any legal actions as the defence of estoppel ceases to operate in the case where estate manager acts as trustee for enforcement. 3. Although there may be other homeowners who violates provisions of deed of mutual covenants, the estate manager has the absolute rights to take action and is entitled to specific performance against any offenders. The argument of selective prosecution does not hold water. CONCLUSION Deed of mutual covenants stands as a vital document to regulate the homeowners within gated and guarded housing developments. The objective of having such document is to promote communal lifestyle, enjoyment and beneficial occupation of all homeowners. Strict compliance with the deed of mutual covenants is paramount in order to achieve the objectives of living in gated and guarded community. It is also opined that deed of mutual covenants is even more important for projects with individual titles, as compared to strata titles. Management of properties within strata scheme is governed by the Strata Management Act 2013 and Strata Management (Maintenance and Management) Regulations 2015. But management of properties with individual titles is governed by contractual relationship, namely the deed of mutual covenants. Developer or estate manager must be vested with powers to regulate the homeowners, in accordance with the provisions of the deed of mutual covenants. The apex court has affirmed such position. It is a right move ahead.

ABOUT THE CONTRIBUTOR Dato’ Teh Tai Yong is a Senior Partner of Teh Kim Teh, Salina & Co., Advocates & Solicitors. He is also a Visiting Associate Professor at the Southwest University of Political Science and Law in Chongqing, China. He has extensive experience in providing legal advice in property, banking and corporate matters. He welcomes any feedback and views via email - info@tehkimteh.com

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STRATEGY

TIPS TO BUY YOUR DREAM HOME

t is a dream for many to buy their own homes. Many will allocate as much as half or even more of their take home pay to purchase their own piece of real estate. As this is a long-term financial commitment, it is, therefore, important that one consider all the important elements to help them make a wise and informed decision when buying a property. Here are some pointers: LOCATION You would have probably heard this mantra when buying a property- â&#x20AC;&#x153;location, location, locationâ&#x20AC;?. And there are indeed some truths in it. Naturally, the neighbourhood where you are considering home should have all the desirable elements of a dream home. Many of us grew up in a certain neighbourhood and due to the familiarity factors, you may opt to buy your home in

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the same comfort zone. However, safety issue has grown to become a primary concern of many of these old neighbourhoods. Therefore, you may want to consider gated community or developments with private security guards. Additionally, you may want to consider buying your home near a school with good reputation especially if you have children or have plans to start a family. Ideally, the location of a home should not be too far from your place of work to save on time and costs of commuting. For those who are superstitious, they should consider if their prospective home is aligned to Feng Shui or Vastu Shastra. According to Feng Shui, homes that faced the T-junction are a big no-no. Meanwhile, Buyers who are particular with numerology does not prefer the house with lot numbers such as 4, 13 or 14 despite discounts were given. These buyers prefer a house with numbers like 18, and 88.

ACCESSIBILITY Access to proper transportation infrastructure is extremely important. If you have your own transportation to get to work, access to a major highway interchange would be a priority when considering a property purchase. If you rely on public transportation, then you should consider a place near a bus stand or near a Mass Rapid Transit (MRT) station. REAL ESTATE AGENT / DEVELOPER Once you had decided on the general location you want for your home, you would have to decide whether you want to buy the home from the secondary market or brand new. If you intend to buy it brand new, then you should buy it from a reputable developer who is known for timely delivery of and quality of construction. If you intend to buy your home from the secondary market, a real estate agent is

an essential member of your team to get the home of your dreams. You should work with one or several real estate agents who specialises in the neighbourhood where you want to stay. That way you would be able to cast your net further to get as many options as possible. AMENITIES Many people prefer to live a short drive away from the shops or a shopping complex. That way you would be able to buy groceries, medical supplies, etc easily. As a result, many property developers are building mixed-developments. Such projects would normally have residential properties on the higher floors while the bottom floors are shopping complex or shop lots. PARKING It is not unusual for both husband and wife to drive his/her own car to work nowadays. Therefore, the home where you intend to buy, such parking spaces must be readily available. This could be within the property or the availability of a proper parking nearby. You would not want to get a parking ticket or worse, compromise safety, by parking at the road side do you? FUTURE RESALE VALUE The truth of the matter is that unless you have stacks of money lying around, your first home is unlikely to be the final house that you would stay. Generally, people would stay on average, in a home for about 10 years before upgrading it. However as you get older (like when your children had flown the nest), the process is reversed. You would want to downgrade to a smaller home as the cleaning and the up keeping of the home gets tougher. As such while you are looking for your dream home, you should keep an eye on the future potential resale value; knowing that you will either upgrade or downgrade your home in a few years’ time. LASTLY… Last but not least, you should be physically checking out the neighbourhood. Yes, you could be using Google Map and other resources on the internet to check out the neighbourhood but nothing beats walking down the streets of your potential home. In order not to arouse any suspicion, you

may want to put on your jogging shoes. It would be great if you are able to speak to some of the residents to get a feel of the area. You could introduce yourself as a potential resident and then proceed to ask questions about the security, the types of residents, nearby schools and so on. You should consider checking out the area in the day and at night. By doing this, you would be able to check out the noise level or even the number of functioning street lights at night.

As the purchase of a home requires a lot of money, this decision should not be taken lightly. While you should consider many factors, do keep in mind that it should not lead to “analysis paralysis”. You could just continue analysing property after property without putting your name on the sales and purchase agreement. If this happens, this exercise would indeed be a waste of time. Therefore at some point in time, you would need to take action.

ABOUT THE CONTRIBUTOR Calvyn Laang regularly conducts property investing training to share his vision that investing in property is not only for the rich but is also for everyone. He believes that property investing is the best investment vehicle for an average wage earner to retire earlier if he/she chose to. For more information on his “Secrets to Successful Real Estate Investing” training, go to http://PropertyInsiders.com.my or WhatsApp 016-992 1800.

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STRATEGY

DREAM BIG, START SMALL, ACT NOW

all in love with your dreams. Make hearts discover you are alive and have dreams. “The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.” Robert Kiyosaki. Don’t be pushed by your problems; be led by your dreams. That’s why your dreams must be much bigger than your problems if you want to succeed, even if the obstacles seem insurmountable. As such, you need to have a deep and sound understanding of the above statement in order for you to materialise your dreams one by one with ease. TRUE MEANING OF BIG DREAM Who wants to live as a significant successful entrepreneur? Like any success, the very first thing you need to do so is to have a mighty big dream that will endure you to that end, that can give you a purpose for

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your life and keeps you fulfilled in the process. Naturally, people who get into the habit of dreaming big will accomplish those goals. This is because they have the appropriate mindset and mission. You must not only do, but dream as well. You can achieve anything if you can conceive it in your mind. The question then is “why settle for less if you can get more?” It is the famous boxer Muhammad Ali who once said “Champions are not made in gyms. Champions are made from something they have deep inside themselves – a desire, a dream and a vision.” The driving force for all achievements comes from within. Grow inside out to gain strength. Just as the potential to become a tree lies within the seed, the potential to become great, lies within each one of us. It is simply a matter of channeling it out. Being entrepreneur is tough. Growing is even tougher. It takes a lot of courage

to overcome fears, obstacles and the unknowns. That’s why your dream must be bigger than your fears for you to make things happen. By faithfully following your dreams, it will connect you to your inner core self. As such, your dreams must be big enough to consume you right down to your soul and bring out your true purpose in life. It is unlikely for you to settle for less. So, follow your inner instinct to accomplish your ultimate dreams. Congratulations to those who have done so and keep growing. But, for those who have not, you need to do some deep thinking, soul searching and take appropriate action in order to get there. Your dreams will come true if you believe in them. Just keep exploring all possibilities and unfold them one by one. Once you are a big dreamer, you will achieve big dreams. Otherwise, you will be stuck once you have accomplished your dream. Ground yourself with strong beliefs and

big dreams. Following up on your dreams with appropriate actions will help you succeed. These universal principles apply to entrepreneurship as well. By persistently doing so, you will be open to all possibilities you once thought not possible. You will encounter excitements and frustrations because you are venturing into unknown, uncomfortable and unpredictable zones. Your big dreams will help you stretch your limits and keep your enterprise alive and growing. A strong stamina to sustain both excitement and frustration is a must. You may even end up achieving, attaining and accomplishing more than you ever thought possible. For example, you might find yourself at a crossroad when considering a job in any of your chosen field or starting an enterprise in that field. The job is a safe bet with probably limited salary. Whereas the enterprise is the “big dream” that can provide fulfillment, satisfaction and lucrative financial potential. You will be personally fulfilled through your achievements by your hard work, dedication and commitment. In summary, mighty big dreams give you the opportunity to deliver unbeatable results that put your mark in the world. This is because it is the appropriate thing to do for the world. Big dreams are the reasons why the world changes for the better. It’s the reason why there are so many great inventions and cures for diseases, etc. So, go for dreams that will keep you up late and get you up early. A big dream has more pulling power. Go for a dream that will give you excitement, enjoyment and lasting pleasures when you achieve it. CLARITY TO REALISE YOUR DREAM “Think of yourself to be on the threshold of unparalleled success. A whole, clear, glorious life lies before you. Achieve! Achieve!” Clarity means being crystal clear on what you truly want to be. Clarity is the fuel for business growth process. To achieve big goals you can’t have doubts. Doubts surface once you are unsure of what you are trying to achieve, and clarity helps remove them. So how do you get clarity? Clarity comes from getting to know from the appropriate perspective; your true self, what you are best at and how you impact peoples’ lives. This may look simple, but at

times, the cycle may be very frustrating and prevents you from moving forward if you can’t resolve it. As simple as all this may seem or sound; once you know that it is truly what you want, you will definitely be seeking means and ways to make it happen. Clarity has been something that you can see and feel; what you truly need no matters what. You can materialise it regardless of its size as long as it is deeply rooted in your heart. This is because you will have the driving force that leads you to endure the journey no matters how tough the journey could be, even when it seems nearly impossible. This desire drives you to constantly seek out new opportunities and possibilities to make it happen. Ask those who’ve accomplished such successes and they will tell you that dreams, almost beyond imagination, come true. Achieve, accomplish and attain more by setting your mind to them and not stop even when have doubts about your abilities. Be clear about the great difference between confidence and clarity. You need both to succeed. My point is that even if you have the utmost confidence, but if you don’t know what it is you want to achieve, it will not work. There is no end to exercising your confidence and finding clarity to achieve your dream life. It’s a lifelong journey of new goals and challenges, and the more you get in touch with what’s appropriate for you, the closer you get to realising your dreams. Let the clarity of your dream pull you over whatever obstacles that hold you back. Not denying yourself the opportunity is one of the key ingredients in achieving your dreams. Pushing over is more difficult than pulling over. It is critically important for you to see clearly; your mighty dream; the clearer, the better. This is because its power is much greater. You can make it happen provided you can conceive it with absolute clarity in

your mind. To materialise it, you must be able to manifest and visualise it externally with as much clarity as possible. You need to have faith to pursue it even if it is initially unclear. Keep going until it is crystalised. One very good example is the initial process of invention of the airplane. The more you are engrossed in your dream, the more motivation it will create. Look for the magic in, and then beyond, your dream. Notice and enjoy the process, and have a true sense of gratitude. Nurture your wonderment and the magic of your dreams will bear even more fruit. “Your vision will become clear only when you look in to your heart. Who looks outside, dreams. Who looks inside, awakens.” Carl Jung. START SMALL But you should also acknowledge that any path to “big” involves starting “small”. By starting small, you are able to build your confidence and will not be disappointed with your achievement. You can’t build an empire overnight. You need to take many small actions to build your confidence and see your dream clearly. Trials and errors that you gained through your journey will sharpen your skill. Slowly but surely you will move closer to your end goal. And even those steps begin with some kind of action, so why wait to begin? ACT NOW There is no better time than now. You may start with a small action and determine its result. Proceed with more actions if this is appropriate. Otherwise, you need to make adjustments. You will either learn or earn from the action taken. You have nothing to lose, but more to gain. Look from the positive side, you will then be able to adjust your lens appropriately. By persistent and consistent practice you will make permanent progress. Practice until you master it and it becomes part of you.

ABOUT THE CONTRIBUTOR James graduated with a Bachelor’s degree in Accountancy from the National University of Malaysia, and Laws degree from the London of University (UK). He is a Chartered Accountant with the Malaysian Institute of Accountant, Certified Professional Trainer with IPMA (UK) & Train the trainer from Human Resources Development Bhd. (PSMB). His rich experience, broad exposure, diversified experiences, passion, and commitment are definitely assets that set him apart from others.

www.propertyinsight.com.my MAY 2016 I 73

FINANCE

WORKING WITH A FINANCIAL PROFESSIONAL

he position of a financial professional today has never been more demanding. The role of a financial professional is influenced by many factors including challenging economic situation, complex financial products and services, plethora of financial information online, and offline, in particular from prospective client’s friends and relations. To add more insult to injury, there are so many professionals with different designations out there proclaiming to offer financial services and products. Unless familiar with the financial industry, people are bound to be confused. This article will shed some lights on the common services provided by financial professionals in the industry. There are some key questions investors should ask when the financial professionals come to approach them to offer services. Table 1 defines a Licensed Financial Planner and a Financial Adviser Representative. Both are regulated by different regulators. They are paid for their services either by commission or fees, it can sometimes be a combination of the two.

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Table 1: Common Types of Financial Planning & Advisory Professionals TYPES OF FINANCIAL PROFESSIONALS

Financial Planning Companies & Li-censed Financial Plan-ners (LFPs)

ROLE

REGULATED BY

• LFPs coach & guide you on your financial goals and draw up a de-tailed financial plan. • A detailed financial plan provides you with direction on each area of your personal financial plan with appropriate solutions suitable to your needs.

REPRESENTS

Financial planning companies & their LFPs are licensed by Securities Commission (SC)

Consumers

• LFPs will review your financial plan from time to time to ensure you’re still on track to attain your finan-cial goals.

Financial Advisers (FAs) & Financial Adviser’s Representatives (FARs)

• FAs provide financial advisory services on insurance products & other services related to financial advisory business based on your financial needs & circumstances. • FAs are independent & are able to advise you on a wide range of insurance products and/ or takaful plans from various insurance companies/takaful operators to best suit your needs.

FAs are companies approved by BNM to provide financial advisory services whilst FARs are their appointed representatives

Consumers

Table 2: Common Types of Financial Professionals TYPES OF FINANCIAL PROFESSIONALS

ROLE

REGULATED BY

• Unit Trust Consultant • UTCs offer suitable unit trust products which suit your risk appetite • UTCs are tied to only 1 unit trust management (UTC) from the UTMC they’re attached with. company (UTMC) • Private Retirement • PRS Consultants offer the most appropriate PRS products from the • PRS Consultants are tied to only 1 PRS Provider. They are registered with the Federation of Investment Scheme (PRS) Consultant PRS Provider they’re attached with. Managers Malaysia (FIMM)

REPRESENTS • Unit Trust Company for Unit Trust Funds • PRS Provider for PRS funds

• Wealth Managers (WMs) • WMs/ FCs are employees of banks. Their job title may vary among • Financial Consultants different banks. (FCs) • They recommend financial products & services (eg credit cards, bank loans, deposits & investment products) based on your needs & risk appetite.

Banks are licensed & regulated by BNM

Commercial Banks

Insurance / Takaful Agent

• An insurance / takaful agent represents its principal insurance company / takaful operator. • Primarily sells insurance policies or takaful plans issued by the insurance company or takaful operator it represents.

• PIAM (general agent) • LIAM (life agent) • Malaysian Takaful Association (takaful agent)

Insurance Company or Takaful Operator

• Trustee Corporations* & Estate Planners • Law firms & lawyers

• A trustee corporation which offers services to do wills, trusts, declaration of hibah & matrimonial properties. • An estate planner offers all the above services • Some law firms also offer the same services through their lawyers

• Trustee Corporations falls under Trustees Act 1949 (Revised 1973) under Ministry of Finance • Malaysian Bar Council, Sabah Law Association, Advocates’ Association of Sarawak

• Trustee Companies • Law firms

*Trustee Corporations are alsotrustees for unit trust companies

Before you engage a financial professional, you need to know what sort of services you need. Mode of payment is also important. Diagram 3 below shows different quadrants of services and mode of payment. Quadrant 1 would be more transaction and product based and remuneration is by commission. Quadrant 2 does more consultative selling in that the professional will find out your needs for a particular product and offer suitable product. Unit Trust Consultants, Private Retirement Scheme Consultants, Insurance Agents

and Estate Planners mostly fall under this quadrant. Quadrant 3 which more advise-based. The professional, who are Financial Adviser Representatives will find out your needs in specific areas, research suitable products and offer choices to you. They may be either commission or fees based or a combination. Quadrant 4 are planning-based and it common that they are remunerated by fees. Licensed Financial Planners fall under this quadrant and they will look at your financial life holistically, help you determine

Diagram 4: What a Financial Planner Does

Diagram 3: Sales or Advice & Commission or Fees

Fees

Commission

3 Financial Advice

Planning & advise driven

Sales-oriented process

4 Financial Planning Hybrid

Financial products driven

2 Consultative Selling Hybrid

1 Single Product Sales

the key areas you want to achieve, get the necessary information and draw up a customised plan with recommended solutions. If you are satisfied with the plan, you can choose to implement it. The Licensed Financial Planner is paid either fees or commission and it is common to be a combination as well. Diagram 4 below shows the financial planning process which helps you understand the work of a financial planner.

Solution-oriented process

www.propertyinsight.com.my MAY 2015 I 75

FINANCE Did you know a Financial Planner needs to be certified and licensed, before they can practise as a financial planner? Diagram 5 below shows the difference. Diagram 5: Licensed or Certified

Licensed Financial Planner

Certified Financial Planner®

• Has a Financial Planning License form Securities Commission (SC)

• Has knowledge & compentency choose not to practise

• Can provide training or write article on financial planning

• Can provide training or write article on financial planning (non planning or advisor related activities)

• Can draw up financial plans & advise clients and companies

Which brings me to the list of questions you need to ask: 1. What is your area of speciality? 2. How many year’s experiences do you have? 3. Which company are you attached to? This will tell you whether the person is with a financial institution or a financial planning firm. 4. Which regulator do you fall under and do you have a licensed number or authorisation code? This helps you cross check that the person is licensed or approved. 5. What is you scope of service? 6. How are you remunerated? 7. Who can I call should you be unavailable? 8. Are you under contract or employed? 9. Do you work with other financial professionals in what you do ? This will let you know that the professional may refer you in areas outside his scope. 10. If you decide to retire or resign, who will be taking over my case? If you need more information, below are the list of websites you can refer to. This list is non-exhaustive. Last, but no least, please do your homework before entrusting your money to the first person who knocks on your door. And with that, I trust there is enough information for you to work synergistically and effectively with the right financial professional. Have a great financial life!

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Table 6: List of Websites for Financial Information No

AREAS

ORGANISATION

WEBSITE

Financial Planning Association of Malaysia

www.fpam.org.my

Federation of Investment Managers

www.fimm.com.my

Life Insurance Association of Malaysia

www.liam.org.my

Persatuan Insuran Am Malaysia

www.piam.org.my

Financial planning

Unit Trust

Life Insurance

General Insurance

Banking Products & Services

Bank Negara Malaysia

www.bankinginfo.com.my

Shares & Derivatives

Bursa Malaysia Berhad

www.bursamarketplace. com

Debts & Money

Agensi Kaunseling & Pengurusan Kredit

www.akpk.org.my

Employee Provident Fund Private Pension Administrator, Malaysia

www.kwsp.gov.my

Management 8

Retirement

ABOUT THE CONTRIBUTOR Linnet Lee is the CEO of Financial Planning Association of Malaysia (FPAM). She obtained her Certified Financial Planning (CFP) Certification and Islamic Financial Planning (IFP) Certification through FPAM and has been its member since 2002. She can be contacted at www.fpam.org.my

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PROFESSOR DATO’ MICHAEL TIO CEO & Managing Director PKT Logistics Group

Professor Dato’ Michael Tio is an early bloomer in the world of business, thanks to the entrepreneurial gene passed down from his father Dato’ Tio Sook Keo – the man behind Port Klang Trading (was renamed PKT Logistics Group Sdn Bhd) way back in 1974. Dato’ Michael is also the CEO of Malaysia Book of Records since 2015. With his contributions, he was appointed as an Adjunct Professor by University Utara Malaysia. He was selected as one of the Top CEO’s under the CEO Faculty Program by the Jabatan Pengajian Politeknik Malaysia as the Ministry of Higher Education.

DR FAUZIAH YUNUS BENJAMIN YONG Founder & Group Chief Eating Officer The Big Group

Benjamin Yong is the founder of the BIG Group and has cheekily dubbed himself as the Chief Eating Officer with a prolific portfolio of fusion restaurants, cafes, grocery stores, bars, collaborations and even a Bed & Breakfast, Langford Fivehead in the United Kingdom. Benjamin’s entrepreneurial pursuits had humble beginnings. At 13, he started baking carrot cakes at home and selling them to cafes around Kuala Lumpur. He started engaging himself in the F&B scene in 2004 with Delicious, a cafe inside his mother’s fashion boutique, Ms. Read. After selling Delicious to Eastern & Oriental Group, Benjamin has been tirelessly expanding the spectrum of the BIG Group’s reach, from Benbino, a cafe dedicated to children and speakeasy bars, to food halls and 5 supermarkets in the pipeline. With so many ventures under his belt, Benjamin remains true to his roots and his group’s ethos: Building Relationships Through Food.

Jeevan is the founder and CEO of Leveragelab Sdn Bhd and a multi-award winning business coach who trains CEOs, entrepreneurs and executives. He has a regular show every first Fridays of the month on BFM 89.9 (today) at 11 am. In the last 16 years he has worked with over 25,000 people and all kinds of industries from companies such as Alam Flora and Sunway Property to Nike Malaysia, Groupon Malaysia and Star Malaysia.

FREDA LIU Presenter/Producer BFM

Freda Liu is the anchor presenter of The Enterprise show at BFM 89.9. She has conducted over 5,000 interviews - prominent names include Martin Cooper (inventor of the mobile phone), Robert Kiyosaki, Stephen Covey and Julian Assange. She was previously with Edelman PR and IBM, and was a newsreader at RTM. She has authored a book titled PR Yourself, and has completed a coaching course with the International Coaching Federation. She specialises in coaching executives on speaking.

Founder Klinik Pergigian Fauziah Dr Fauziah Mohamed Yunus founded Klinik Pergigian Fauziah in 1988. Maintaining a steady growth with three dental clinics to date, she has seen over 35,000 patients since their humble beginnings. The clinic now sees more than 1,200 patients per month from Malaysia and all over the world, a testimony that medical tourism is booming. She was awarded the ActionCOACH Synergy Award in 2009 and ActionCOACH Business Of The Year in 2011.

JEEVAN SAHADEVAN Business Growth Expert Leverage Lab

DANIEL HO Group Managing Director IQI Holdings Sdn Bhd Daniel Ho is the Managing Director of IQI and is responsible for strategy and execution. He heads his entire sales teams within the region. Daniel has over 15 years of experience in the Malaysian corporate and business market and brings with him expertise in strategy, operations, fund raising and investments after having worked for many leading firms in Malaysia. Daniel was actively involved in the Malaysia Real Estate sector and was managing large property funds for high net worth clients.

www.propertyinsight.com.my MAY 2016 I 79

KK CHUA Managing Director Armani Media KK is a strategist and advisor on property investment. He is also the Managing Director of Armani Media Sdn Bhd which was established 10 years ago. Armani Media publishes Property Insight, the number one magazine that highlights property investing and outlook. A registered real estate agent and property investor, KK has over 10 years of experience in the industry and is an entrepreneur of great calibre. His recent ventures include establishing Entrepreneur Insight, a portal dedicated to providing the latest movements in the world of entrepreneurship and small and medium businesses.

Dato’ Billy Goh graduated from Monash University, Melbourne and started as a Hyundai Dealer in 2012 in Kampung Baru in KL. Today, he stands as the managing director of One Auto Marketing Sdn Bhd, the largest Hyundai Dealership Group in Malaysia which caters to 25% of the market share. Holding firmly to the idea of ‘Simplicity’, Dato’ Billy always emphasises on the simple ‘PSA’ principle when it comes to solving problems. P = Problem: Identifying Problems (High number of people can identify Problems) S = Solution: Discover Solutions (Less number of people can discover Solutions) A = Action: Implementing Actions (even people who discover solutions, very little of them out into actions)

SHERLYN TAN Founder Twenty3

VINCE TAN Founder

Shock Media Studio

CHRIS TAN Founder & Managing Partner Chur Associates Chris founded CHUR ASSOCIATES®, a legal boutique that delivers friendly solution for its clients from Corporate Advisory to “Everything Real Estate”. Chris is a regular guest speaker at corporate, academic and public events; guest commentator at radio station; and a regular contributor for media publications. He is the author of 8 books on topics concerning law, property investment, estate planning, tax and entrepreneurship. Chris is the youngest recipient of the FIABCI Medal of Honour in 2010.

Vince Tan is an international speaker, investor, geek and serial entrepreneur, building several multi-million dollar businesses in a very short span of time. He started programming at the age of 7 and created websites by the age of 14. He attended the World Internet Summit in 2007 & then proceeded to set the stage on fire after a string of successful online product launches that raked in 6 & 7 figures within a few days. He is known as one of the fastest internet marketer in the world & one of the top in Asia. He founded eduPOW.com, the largest online learning site in Southeast Asia and Shock Media Studio, Social Property and Model Houz.

Founder & CEO foodadvisor.my

Managing Director Feruni Ceramiche Sdn Bhd

Managing Director One Auto Group

80 I MAY 2016 www.propertyinsight.com.my

Sherlyn Tan founded Twenty3, an e-commerce fashion store for women in 2013. Operating as a one-woman enterprise, she grew the company with just RM5,000 in start-up capital to nearly RM10 million in total sales over 3 years. The brand debuted at KL Fashion Week in 2015, and has been featured in numerous media outlets, including international fashion magazines Harper’s Bazaar and ELLE. The company has been recognised for its rapid growth, winning the Alliance Bank SME Innovation Challenge 2015. Sherlyn is also the winner of Tan Sri Liew Kee Sin Award, Alliance Bank SME Innovation Challenge 2015 and L’Oreal Women of Worth 2016

KENNY HEW

DATO’ CC NGEI

DATO’ BILLY GOH

Malaysia. He was named SME Man of the Year at The BrandLaureate SMEs BestBrands Awards 2014 and received four categories of the Star Business Awards (SOBA) 2014, namely Malaysian Business of the Year Award – Platinum, Best Brand Award – Platinum, Best Employer Award – Platinum, Best in Marketing Award, Best in CSR Award – Gold.

A visionary who ventures beyond conventional tiling business practices, CC Ngei has since led various transformations in the tiling industry. Under CC Ngei’s leadership, Feruni is now a market leader in premium ceramic tiles in

As the founder of FoodAdvisor.my, Kenny wore many hats throughout his career. All his experiences combined taught him the professional ideals he holds today – multi-tasking does not work; one needs to focus fully on one job at a time; not paying attention to credits but just the idea of winning. bnb With prior experiences (both good and bad) from two of his previous start-ups, FoodAdvisor.my grew as a company that delivers unique value propositions towards its users and client. Currently backed by Angel Investor, Cradle Fund and 500Startups, they are aggressively expanding their presence nationwide

this year and are looking to grow regionally in 2017.

HUI MATHEWS Founder Ash Be Nimble Hui was previously a consultant with various companies like PwC Consulting Sydney, E&Y Advisory Kuala Lumpur, AirAsia and The Boston Consulting Group KL. Hui was inspired to start her own clothing brand at her first road race in 2013 (the inaugural Malaysia Women’s Marathon - 8km) She loves trail running and together with her husband have done ultra-trail races (2x50km and 1x70km) around Southeast Asia, finishing in the top 10 most of the time. In December 2015, Ash be Nimble became one of the top 7 companies in the Alliance Bank SME Innovation Challenge, and won the Sustainability Award. The same week, she gave birth to her first daughter the day after the final pitch and awards night.

JOANNE HO

ANABELLE CO-MARTINENT

Co-Founder Happy Bunch

Founder and Managing Director La Juiceria

After 8 years in the banking industry, Joanne took the plunge into the world of entrepreneurship. Her first foray into Food & Beverage was setting up Malaysia’s first “cupcakery” in 2008 when she obtained franchise status. The brand is trademarked and has become a household name in Malaysia, with over 100,000 fans on Facebook, grown organically with minimal advertising. What drove her into action is her fear of missing an opportunity which to her, is larger than the fear of failing. She co-founded Happy Bunch in 2014, an e-commerce online flower delivery business that has revolutionalised the way people send flowers.Happy Bunch has carved out a blue ocean for itself, being the first and biggest of its kind in Malaysia.

Anabelle Co-Martinent is an entrepreneur who’s passionate about spreading healthy lifestyle trends to all Malaysians. As a juicing advocate, she started an online business, which later turned into 14 La Juiceria Detox Bars around the Klang Valley. Her latest venture is the establishment of a healthy café called Goodness Greens at Taman Tun Dr Ismail. She has worked across different segments – from enterprise, SME to consumers – covering channel strategies from Distributors, to commercial and retail channels. This includes short training stints for Air Asia, Digi and Hong Leong Capital before venturing into radio media BFM 89.9 producing shows on businesses and entrepreneurship. In Feb 2016, La Juiceria became the first and only cold-pressed juice to be certified HALAL by JAKIM (Jabatan Kemajuan Islam Malaysia).

MARKUS BIHLER ELAIN LOCKMAN Director & Co Founder Ata Plus Elain has over 20 years of experience with government linked corporations and startups in varying sectors, namely Oil and Gas, ICT, Telecommunications, Finance, Carbon Management, F&B, Tourism, Strategic Consulting, Fashion and Franchising. She has worked at Petronas, MDEC, Malaysia Debt Ventures, DiGi Telecommunications and Packet One Networks. She currently chairs and sits on the board of the Internal Audit Committee of Western Union Payments Malaysia while being actively involved in the start-up community, advising entrepreneurs in funding, strategy and operations.

Group CEO & Co-founder Happy Fresh Markus is Group CEO and co-founder of HappyFresh, Southeast Asia’s leading grocery delivery company. Founded by a group of passionate entrepreneurs and backed by great investors HappyFresh is headquartered in Jakarta and operates across the region. Prior to relocating to Asia Markus ran online retailer Tirendo in Europe (sold to Frankfurt-listed Delticom AG in 2013), was a private equity investor with The Blackstone Group and EQT Partners, and a consultant with BCG. Markus is a graduate of Balliol College, University of Oxford with a doubledegree in Economics & Management and a fellow of the German National Academic Foundation.

TAN JIAN YONG Co-founder & Chief Marketing Officer Page Advisor Prior to becoming a full-time online entrepreneur, Jian Yong used to spend his days off from his studies at Nanyang Polytechnic as a swim coach for children and youth. Widely known as the “youngest internet millionaire, he started an online platform at the age of 20 which linked swimming instructors with students. This eventually led to the opening of a swim school with 300 certified swimming instructors. From 2008 to 2014, the swim school trained more than 20,000 students. Apart from his swimming business, Jian Yong manages several other sports education related businesses, including a golf academy and a yoga academy.