Welcome to my Property blog

2011-12-09T21:18:00.001-08:00

Verticas Residensi
by Wing Tai

Property Details
Name: Verticas Residensi (also known as Vertical Residency)
Address: Jalan Ceylon, Bukit Ceylon, 50200 Kuala Lumpur
Developer: Starpuri Development (a subsidiary of Wing Tai Asia)
Completion Date: Early 2012
Type: Condominium
Tenure: Freehold
No. of Blocks:
o Condominium: 3
o Serviced Residence: 1
No. of Storey: 43
No. of Units: Over 600
o Tower A: 167
o Tower B: 135
Land Area: 2.41 acres
Built-up: 1,400 – 2,400 sf

Layouts
Tower A
Type A1: 1,427 sf (2 bedrooms + study area) Level 10 – 26
Type A1s: 1,849 sf (2 bedrooms + study area + terrace) Level 9
Type A1a: 1,427 sf (2 bedrooms + study area) Level 27 – 40
Type A2: 1,468 sf: (2 bedrooms + utility room + study area) Level 10 – 42

Tower B
Type A3s: 1,610 sf (2 bedrooms + study area + terrace) Level 9
Type A3a: 1,495 sf (2 bedrooms + study area) Level 10 – 26
Type A3: 1,495 sf (2 bedrooms + study area) Level 29 – 42
Type B3s: 3,450 sf (3 bedrooms + study area + utility room + terrace) Level 9
Penthouse (4 units): 4,000 sf onwards

Living and Dining~ Compressed marble flooring

Bedroom (Excluding Guest Bedroom)~ Timber-strip flooring
~ Built-in wardrobes

Master Bathroom (Bath 1)~ Compressed marble to wall and floor with vanity top
~ Standing shower with glass enclosure
~ Long bath complete with shower mixer
~ Quality sanitary ware and fittings

Common Bathroom (Bath 2, 3 & 4)~ Homogeneous tiles to wall and floor with vanity top
~ Standing shower with glass enclosure
~ Quality sanitary ware and fittings

Kitchen
~ Compressed marble / Homogeneous tiles to floor
~ Quality kitchen cabinets with solid surface work top complete with stainless steel sink
~ Appliances include: cooker hood and hob, oven, dish-washer, refrigerator, washing machine and dryer

Value Added Provisions
~ Concealed air-conditioning fan coil unit to living /dining area and study / family
~ Wall-mounted air-conditioning fan coil to bedrooms
~ Cable-ready TV points
~ Audio intercom system
~ Panic button at master bedroom
~ Biometric features at main entrance to unit
~ Hot water supply to kitchen and all bathrooms
~ Card access control system
~ CCTV security system at selected common area locations

Facilities and amenities
~ Lap Pool & Leisure Pool
~ Jacuzzi
~ Wading Pool
~ Multi-Purpose Hall / TV room / Meeting Room / Reading Room
~ Gymnasium / Yoga Room
~ Children Play Room / Playground
~ BBQ Area
~ Cafe space* with terrace area
~ Laundrette Room & Shops*
~ Changing Room with Steam Bath
~ Saunas
~ Landscape area and water features
~ Sky terrace at Level 27 with alfresco recreational area, skyline viewing decks and relaxation alcoves and reflecting pools

Remark:
Freehold at Bukit Ceylon. Walking distance to Lot 10, Star Hill, Bukit Bintang, Etc. 2 mins drive to KLCC.
Total over 600 units. There are 3 type. 2 -5 rooms. 43 storey high. Each floor there are 5 units only with 4 lift. WOW!
From 2009 soft launch until now prices has gone up from RM800 till RM1250 per sf.
There is no balcony for these design but there are windows airy for mostly bathrooms. Some bigger unit comes with terraces. Balcony to some people are a waste of space. To me, I can live without it though.
If you are are interested to find out more about this property please leave a comment in the below box.
Or alternatively you can reach me at 0123900488 or my partner Ray at 0163110142. Both of our email are:
mabelchow@REAPFIELD.com and raychua@REAPFIELD.com

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2011-09-22T03:57:00.001-07:00

Nazri to meet Najib over land acquisition

News

2011-09-21 12:19

KUALA LUMPUR, Sept 20 (Bernama) -- Minister in the Prime Minister's Department Datuk Seri Mohamed Nazri Aziz is to meet Prime Minister Datuk Seri Najib Tun Razak tomorrow over the acquisition of land in Jalan Sultan and Jalan Bukit Bintang for the Sungai Buloh-Kajang line of the Klang Valley Mass Rapid Transit (MRT).

Mohamed Nazri said he would also hold discussions with Syarikat Prasarana Sdn Bhd, which was undertaking the project, to consider several matters including an alternative route before any acquisition.

He spoke to reporters after a dialogue with the Federation of Chinese Associations of Malaysia (Hua Zong) on the matter here.

Several property owners, historians and Chinese cultural activists had objected to the acquisition of land in Jalan Sultan for the project, saying it would involve tearing down heritage buildings more than 100 years old.

Mohamed Nazri said Pandan MP Datuk Seri Ong Tee Keat had shown him an alternative route for the MRT which bypasses the area designated for acquisition of the land.

Court lets land owners to challenge MRT land acquisition

2011-09-22T03:48:00.001-07:00

Court lets land owners to challenge MRT land acquisition

KUALA LUMPUR: The High Court has granted the application of judicial review for the land acquisition for nine plots of land in Jalan Bukit Bintang area for the mass rapid transit project (MRT).
Applicants TS Law Corporation Sdn Bhd, LTS Properties (M) Sdn Bhd, LTS Resources Holdings (M) Sdn Bhd, LTS Capital Sdn Bhd and Pedoman Cekap Sdn Bhd had collectively asked the court to declare amongst others the acquisition proceedings of the land for the MRT Project as unconstitutional, unlawful, illegal and null and void.
Lawyer Su Tiang Joo, who represented the applicants, said on Thursday, Sept 15 that leave had been granted for judicial review.
"We have also got the stay of the acquisition proceeding until the disposal of the substantive application for judicial review.
"Right now as it stands, we will have to file the application for substantive review within 14 days.
"But of course during the interim, it was fair as the applicants are concerned. They are more than happy to sit down with the authorities to see as to how the matter can be resolved.
"I don't think it is the land owners' intention is to try to disrupt the proceeding for the benefit of the public. But they have to weigh it against their interests," said Su when met outside court after the hearing in chamber.
He however added that because the application to acquire land has been issued, the judicial review proceeding will commence.
Asked if the applicants will seek to settle out of court, Su said it is not something that they would discount.
"They are not saying that we will take the judicial review proceedings and challenge it all the way. The applicants are prepared to sit down with the acquiring authority and the government of Malaysia to see how best to resolve the matter," he added.
Su said the leave was granted because the judge found the application not to be frivolous.
He added that the judge found that it is premature at this juncture to decide whether the acquisition of is bad faith on the part of the acquiring bodies.
"But based on the materials before him now, he is saying it is not frivolous and it is an application that should be heard on its merits," said Su.Justice Abang Iskandar Abang Hashim delivered the judgement in chamber.

Melawati Heights

2011-09-19T01:12:00.000-07:00

Landed properties under RM370k nearby Puchong..and its new!!

2011-09-07T04:03:00.000-07:00

Have you ever feel like you can never afford to purchase any landed properties if the price keep hiking? If you think the same way as I though fear no more. Here is what I'll do. I'll take a detour to the said site and hopefully upload some pictures and videos here. This is what I've so far:-

Taken this from the brochure. Will take the actual unit for y'all! So stay.

Title: Desa Saujana
Location: Bandar Saujana Putra
Exact Location: Bandar Saujana Putra on Lot no: 8594, Mukim Tanjong Duabelas, Kuala Langat, Selangor.
Your house address will look like this: No xx, Jalan SP 3/xx, Bandar Saujana Putra, 42610 Jenjarom, Kuala Langat.
Developer: Goldmount Resources Sdn Bhd( A subsidiary of LBI Capital )
Total land area: 10 Acres ( Only consist of 170 units Double Storey Link )
Title: Leasehold ( until Feb 2094 )
Expected completion date: April 2013
Starting price: RM368800.00
Build up area: 1800sf
Land area: 20x70
Free SPA and Stamp Duty
Panel bankers: OCBC, PBB, UOB, Affin bank. Allaince, HSBC, HLB, MBB, CIMB
Design: Practical, large living hall, 4 rooms 3 baths, high ceiling height 12 feet, large master bedroom 20x19 (350sf), auto timer car porch light

Benefit of buying than later: Early bird discount of 10k deduct directly from the SPA 10% down payment . ( Which is, you pay 1k now and get the booking form. Race to the bank to get loan. Heck! and also consider lowest rate possible ie: OCBC, PBB etc. Also consider with draw from EPF. Plus, taking renovation/personal loan depends on you eligibility. Than go home. Wait, Eat, Pray...Okay. Voila! Banker call you 3 days later saying your loan's been approve bla bla bla...Go back to the developer lawyer now. But no need to rush now. You've got the POWER since the bank is backing up your financing. Sign the SPA. The deal is done. But hey wait. Dont forget your 10k discount!!!)
Bad news is: 30 units open for early bird discount and now left 10 only...so HURRY!

I didnt went to the site. All these was taken by Ray.

All credits to him!

Nice shot!

I copyrighted these pictures. Tsk Tsk.

This layout seems like can be a quite decent living place for families or young couple. Those who love pets like myself must get one landed property in a lifetime.

This is the location map!

View Larger Map

KLCC Studio for rent!!

2011-09-05T01:05:00.000-07:00

One unit is about 2400-2800 per month. These are not the most attractive pictures that Ive. But its the closest.

Looking for ROI? Look no more..

2011-08-23T05:30:00.000-07:00

Idaman Residence. This is the view at night.

Facing towards KLCC.

The pool at night. Clarity, peace, serenity....

During the day. The sun will kiss your skin.

The lift lobby 1 and 2.

CCTV in mailbox area. There wont be any ambush even if you are alone checking your mailbox at night. But wait...who does that at night?

TA hired a good architect. This is what you see and what you get. I bet your parents will be impressed even before they go up to your apartment.

The lift lobby. I really like this picture. It was taken by one of my owner. Credits to him.

The view from the apartment during the day.

Gym..not bad huh?

I like the security here as the guard will question each and every person who walks in.

This is how the building looks like. Comprises of 34 levels.

After you close your main door.

Voila! The LARGE living room eh. So everybody can hang around the living area and have some great family time.

Open concept kitchen. Can look at KLCC tower and watch TV at the same time when you or your wife is cooking or preparing a meal.

Sorry for the watermark in the picture. The default picture stated the owners contact and unit number. i covered it up for privacy purposes.

Ceiling and mounted air conditioning. If you love to save some bills. There is a ceiling fan too..

The second room/guest room.And there is also walk in wardrobes for every individual rooms.

Master bedroom with balcony. You dont have to cut through the living if you wanna get fresh breeze air. Right away from your own very master bedroom you can walk right out to the balcony. Hows that?

As some of you are really impress by now. No not yet. Not until you come and visit.

For he and she.

Double. Confirm sound proof. You gonna need this. Especially living in the City.

Fully equip. You dont have to bring extra things. Just move in with your luggage.

Washer and dryer for more than 7kgs.

A pretty adequate space for an open concept kitchen. And guess what. The current tenant is paying RM5500 for all these!

Idaman Residence

Do I need to say somemore? Idaman Residence is definitely a famous project and quality by TA. This luxury condo comes with different sizes ranging from 1 bed till 3 bed and even penthouses. Located in the central of very busy city in KLCC only 0.9km away from KLCC. (neigbour of Parkview, though).

Maintenance fee: RM 0.35 per sf

Size: 1591sf

1 parking and Ive called developer/maintenance office and they said they have plenty of parking too!

Price: RM1.36m (RM850 only per sf, another distress owner)

Type: Fully Furnished and Renovated a 2 rooms unit. Currently renting to an Iranian till October at RM 5500. Not bad for an investor yield.

Below RM790 per sf in KLCC

2011-08-23T04:54:00.000-07:00

This is My Habitat.

Tall eh...!?

The developer is so kind that each and every unit comes with washer, dryer, oven, cooking hob and hut.

And kitchen cabinet too. I've tried them. They are SOLID!

Not big living room for a 1496sf size. Because they are saving the space for the rooms.

The tub...of course a long bath will be good after hours. Especially when you are living in the City.

So all the rooms are in regular sizes. Hmm...pretty good layout.

The gym is amazing. Because it is BIG. Space is important for a place where everybody sweats.

Lets hi-tea. Shall we?

The infinity pool as promised by the developer. Trust me some they claimed 'Infinity pool' are not really infinity. But this...Oh yes...INFINITY...

FYI, there is laundry, cafeteria and convenience store. Lets just grab a sandwich and coffee especially after a rough night and you are good to go to work.

The artist impression of the INFINITY pool. I like!

My Habitat

My Habitat comes in two block which is my habitat 1 and my habitat 2. 1 is cheaper than 2 is relatively new.

Facilities is amazing as its comes in infinity pool and large fully covered gym. And hey my habitat also good for a sport person as it has 2 squash room. Really have to take a look or you wont know what I meant. The view of the condo only at one side which is the Genting highland and Ampang bungalow low rise (Jalan Yap Kwan Seng) view. So, good for investors and landlords as there wont be demand for KLCC view or others.

Maintenance fee: RM 0.40 per sf

Size: 1496sf

Price: RM 1.2m (RM 790 per sf This particular owner is migrating to HK,so its a bargain!)

Type: my habitat I, 2 rooms, basic unit. only comes with developer kitchen cabinet and wardrobe and security system, 1 parking.

Selling point: As it is located along Jalan Tun Razak it is very convenient either walk or drive. Nearest LRT would be Ampang Park at Jalan Ampang. It is next to Double Tree by Hilton and a hi-end commercial shopping mall Intermark.

The cheapest studio in KLCC

2011-08-23T04:35:00.000-07:00

Swimming pool might look normal to you in this picture. Dont judge until you have personally been there. Dont believe me? Take a tour there. On 33A level, you will be able to see KLCC and KL Tower from there.

A decent gym for you who love to workout during rush hour. Dont just go for work out. mingle around and you will fall in love with the residents and tenants here.

The concierge is where the security guard will be seated and they will monitor who walks in and out. Your guest or visitor will definitely needs to register to access. 1 hour grace period will be given for every visitors parking.

This is the unit for sale and it is fully furnished with everything your tenant or you gonna need. You dont have to renovate or buy expensive large items. Sounds good?

Ohh! Yeah, of course you need to clean up a bit and rearrange the furniture so that you can win tenants heart on 1st view.

Parkview Service Apartment
is completed since 2007 by Mayland. It is located next to Crown Regency, behind Beach Club and 1km away from KLCC. LRT nearest would be KLCC lrt and Bkt Nenas lrt. This is a service condo so facilities like pool, sauna, gym, laundry shop and convenience store are available. A multi tier security as you need access card to access to only particular floor and facilities floor only.
The ROI for Parkview is ranging from 5%-8% depending on your buying and renting price. As for most of the units are Studio. You could fetch RM2300 - 3000 per months. Theres only two sides of the view mostly people call it KL Tower view (Jalan Raja Chulan) and KLCC view.
Maintenance fee: RM0.35 per sf
Size: 545sf
Price: RM530k (RM973 /sf) - consider fair price for Golden Triangle
Type: Studio, Fully furnished in a move in condition
Condition overall excellent. Located at hi- floor and it is fully furnished in a move in condition.
Selling point: It is a good buy as you couldnt get less than 1million value of property right in the middle of the Golden Triangle. Can get tenant easily and small studio is easy to manage. Easy to sell in the future as the demand in Parkview is higher than supply. Low density. 1 block only.

ETP takes off, RM30bil worth of projects signed

2010-10-26T04:59:00.001-07:00

The RM1.3tril Economic Transformation Programme (ETP) took off to a great start with 9 agreements worth more than RM30bil signed Monday.

Prime Minister Datuk Seri Najib Tun Razak said it was a good start to convince those who had doubted the ETP.

Among the nine entry-point projects are the setting up of a RM214mil wafer fabrication plant by German-based LFoundry in the Kulim Hi-Tech Park and construction of a RM1.2bil six-star hotel and residence in KL Central by St Regis.

Other projects are Mydin's RM1bil investment to open 14 new outlets and assisting small sundry shops via the Tukar project, setting up of RM124mil bio-oil plant in Lahad Datu, Sabah, and the RM26bil KL International Financial District by Mubadala.

He also announced that Malaysia Airports Holding Bhd had awarded a 25-year concession to WCT Bhd to build RM486mil integrated. Complex at KLIA2.

Renowned oilfield services player Schlumberger's Eastern Hemisphere Global Financial Services Hub in Bandar Utama, is part of Greater KL/Klang Valley Initiative, said Najib.

The Higher Education Ministry has also selected Asia e-University as the gateway university for international education for distance and online learning. It is expected to generate RM100mil.

3.3millions job opportunities expected in this ETP by year 2020.

Property News- New Developments in Setapak, Bangsar South and Etc.

2010-10-26T04:14:00.000-07:00

As at 24th October 2010,

Developer: KP Property s/b subsidiary of construction group Kerjaya Prospek (M) s/b

Development: 288 Residency

Address: Setapak

Property Type: Condominium

Land Title: Residential

Tenure: Freehold

Built Up: 1408 sq.ft.

Listing Price: From RM488k

Total Units/Lots: 288

Remark: KP Property setapak 288 residency 52% take up rate in three days. Oct 10, developer soft launch.

Developer: KP Property s/b subsidiary of construction group Kerjaya Prospek (M) s/b

Development: 222 Residency

Address: Setapak

Property Type: Condominium

Land Title: Residential

Tenure: Freehold

Built Up: 861sf-1201sf

Listing Price: From RM280k

Total Units/Lots: 222

Remark: 90% sold since Aug launched

Developer: Mitraland Group

Development: The Cascades

Address: Kota Damansara

Property Type: Condo, Offices

Land Title: Residential, Commercial

Listing Price:RM 550-600 psf

Remark: 1st phase 40 units of 4 and 5 storeys office, sold 3.2m -10m since aug, when completed

4.7ac, RM350m retail, commercial, residential

Address: Kg. Kerinchi

Development: Sangsar south

Developer: UOA holdings s/b

Property Type: Camellia Service Suites(34 Storey)

Size: about 1000sf per unit

Lauching: End of the year

Site size: 2.68ac

Total units: 480

Benefit: Lease back as rental return guaranteed scheme, building with MSC status will attract alot of foreign compannies as accomodation for their staff

Facilities: jogging track, swimming pool, gym. A 210000sf club house

Development: The Park, Begonia, Acacia,

Total: 470 units.

Size: 1200-2100sf units

Listing price: sold RM 350 psf

Remark: 80% taken

Completed

Subsales: Rm 450-550 psf

Development: The park residence

Facilities: Lifestyle mall comprises commercial and shopping in residential

Comprises: commercial office the horizon, shopping the sphere and the vertical, 11038 parking spaces

Remark: Kg kerinchi in pantai dalam was acquired by UOA 5 years ago

access to kerinchi via fedaral highway

Amenities: LRT, busses, food stall and police station

Completion: single largest project take 7 years to complete

Gross value: About RM 6 billion

Development: The Horizon(6 ac central park, phase 1)

14 blocks

10-11 sty boutique offices

gross floor area 55k sf

completed jun 09

developer will keep 4 blocks sell remaining 10 blocks

3 MSC status

corporation that call bangsar south home are :- Al-Batha Group

-Takaful Ikhlas

-F-secure Corp of Finland

-Malausia Ekectronics payment systems

-dagang

-net technology

2 sty boutique mall

Developement: The Sphere(phase 1 the horizon)

net letable 80k sf shoping mall population increase

UOA facilities add

3 off blk with big space

10 blk 13-20 sty boutique off

total 1.5m sf

central park phase 2

6 ac central park

2.5 ac is in plan

govt push greens

took out 3 blocks to build green and waterfall

Remark: 4 of 8 block of horizon started in mar been sold

complete by january,

another 4 starting,

prediatrian bridge

impove accesibility

acquired 3 ac land near federal

still uncleared land

plan to develope in 3-5 yrs time,

when work 60 ac bangsar south will be 60-70% complete

both will be connected,

178 m of the bridge 250m

walk to LRT and North of bangsar,

end of year start squatter will be out,

new lrt will be in jln kerinchi

more projects

binjai 8

40 sty soho

behind nikko hotel,

1ac 310 p/f furnished 753-1784sf

RM1100 psf

60% take up unit in 6 design in 1-2 room,

500 paking

leasing incld Rm 2000 psf,

setapak green end of the year

-plaza prima

-prima setapak

-prima setapak 2

-villa yarl, tmn yarl

-mixed dev in happy graden

-villa pined. g/g segambut dalam

20 units 1.5 sty

3937-5040sf

sell later date

-35unit 2.5 warehouse kepong biz park

under con

b/u 9000-21k sf

5-10m

50% since june sold

-tmn desa condo

-commercial in glenmarie

100 ac of undevelope land bank in setapak

kepong tmn desa

development value=RM 5 billion

They are currently looking for land too. Outside of klang valley interested too.

Summary extract from Edge Property

Malaysia Budget 2011

2010-10-16T07:25:00.000-07:00

Highlights of 2011 Budget

HERE are the highlights of the 2011 Budget which was presented by Prime Minister and Finance Minister Datuk Seri Najib Razak in the Dewan Rakyat this afternoon.

With the theme "Transformation Towards a Developed and High-Income Nation", the 2011 Budget will centre on the following four key strategies:

1. Reinvigorating private investment;

Privafe-public partnerships
* In 2011, private investment is estimated to expand 12.5% to RM86 billion

* The implementation of the 12 National Key Economic Areas (NKEA) to generate investment exceeding RM1.3 trillion and create 3.3 million jobs

* The private sector will finance 92% of the NKEA and the remaining by the government

* Several PPP projects identified under the 10MP will be implemented in 2011 through private investment of RM12.5 billion

* The government to allocate RM1 billion from the Facilitation Fund.

* Construction of highways such as the Ampang-Cheras-Pandan Elevated Highway, Guthrie-Damansara Expressway, Damansara-Petaling Jaya Highway, Pantai Barat-Banting-Taiping Highway, Sungai Dua-Juru Highway and Paroi-Senawang-KLIA Highway;

* Construction of a 300-megawatt combined-cycle gas power plant in Kimanis, Sabah to increase electricity generation capacity to meet rising demand; and

* Development of projects such as the International Islamic University Malaysia Teaching Hospital in Kuantan, Pahang, the Women and Children's Hospital as well as the Integrated Health Research Institute Complex in Kuala Lumpur.

* The Academic Medical Centre, a joint venture between Academic Medical Centre Sdn Bhd and Johns Hopkins Medicine International as well as Royal College of Surgeons Ireland. This project involves private investment of RM2 billion.

* 1Malaysia Development Berhad (1MDB) in collaboration with Mubadala Development Company, an investment arm of the Government of Abu Dhabi, to develop the Kuala Lumpur International Financial District (KLIFD) valued at RM26 billion, commencing in 2011.

* The Mass Rapid Transit (MRT) in Greater KL (Klang Valley) will be implemented beginning 2011. This project, with an estimated private investment of RM40 billion, is expected to be fully completed by 2020.
Upon completion, the utilisation rate of public transport is expected to increase to at least 40%.

* The Malaysian Rubber Board land in Sungai Buloh of 2,680 acres (1,085ha) will be developed at RM10 billion and is expected to be completed by 2025. The Employees Provident Fund (EPF) will undertake mixed development comprising affordable houses as well as commercial, industrial and infrastructure facilities.

* Another landmark development is by Permodalan Nasional Berhad — Warisan Merdeka, expected to be completed by 2020. Comprising a 100-storey tower, the tallest in Malaysia, it will retain Stadium Merdeka and Stadium Negara as national heritage. The total project cost is RM5 billion, with the tower expected to be completed by 2015.

Capital markets
* The Securities Commission (SC) will offer three new stock broking licences to eligible local, foreign or joint-venture companies to increase retail market participation.

* The SC will increase the number of Proprietary Day Traders operating in the market.

* Entrepreneurship Enhancement Training Programme to train 500 new technopreneurs and attract more angel investors to be managed by Cradle Fund Sdn. Bhd, an MOF Inc.

* Malaysian Technology Development Corporation (MTDC) will be provided a start-up fund of RM100 million to provide soft loans which allow loan repayments only after the companies generate income.

* The Bumiputera Property Trust Foundation (BPTF) to be set up to provide opportunities for bumiputera ownership of prime commercial properties in major towns. A Bumiputera Property Trust Scheme to be launched this year with a size of RM1 billion to enable bumiputera ownership of prime commercial properties in the Klang Valley, through a group ownership scheme.

* A Private pension fund to be launched in 2011. The existing income tax relief of up to RM6,000 for employee's contributions to the EPF will be extended to the contributions made to the fund, including the self-employed. Employers will also be given tax deduction on contributions made.

* RM857 million allocated for local companies to invest in electrical and electronics (E&E) high value-added activities, particularly in Penang and the Kulim High-Tech Park in Kedah.

* RM146 million allocated to support oil and gas (O&G) sector. Among the projects to be implemented are the oil field services and equipment centre in Johor with private investment of RM6 billion over 10 years. To meet the increase in gas demand by industries, Petronas to implement regasification project with RM3 billion investment in Malacca, which will be operational in 2012.

Green technology
* Several incentives to promote green technology

-- Pioneer status and investment tax allowance for the generation of energy from renewable sources and energy efficiency activities be extended until Dec 31, 2015

-- Import duty and sales tax exemption on equipment for the generation of energy from renewable sources and energy efficiency be extended until Dec 31, 2012

-- Tax exemption on the income derived from trading of Certified Emission Reductions certificate be extended until year of assessment 2012

-- Full import duty and 50% excise duty exemption was granted to franchise holders of hybrid cars as well as hybrid an electric motorcycles up to Dec 31 2010. To further encourage ownership of hybrid cars, import duty and excise duty exemption will be extended until Dec 2011 with excise duty to be given full exemption.

Agriculture
* Govt to implement programme on blending of biofuels with petroleum diesel (B5 Programme) on a mandatory basis beginning in Putrajaya, Kuala Lumpur, Selangor, Negri Sembilan and Malacca in June 2011.

* Govt to also implement Feed in Tariff (FiT) mechanism under the Renewable Energy (RE) Act, to allow electricity generated from RE by individuals and independent providers to be sold to electricity utility companies.

* Govt allocates RM3.8 billion in 2011 to increase productivity and generate higher returns in the agriculture sector. For this, the following measures will be taken:

-- Develop large-scale integrated aquaculture zones in Pitas, Sungai Telaga and Sungai Padas in Sabah as well as Batang Ai and Tanjung Manis in Sarawak that meet standards as well as produce high quality products, with RM25 million allocation

-- Upgrade drainage and irrigation system as well as use high-quality paddy seeds to enhance productivity in Muda Agricultural Development Area (MADA), Kedah and other areas – RM235 million allocated

-- Encourage farmers participation in high-value agriculture activities such as swiftlet nests, aquaculture, seaweeds, ornamental fish herbs and spices with RM135 million allocation for basic infrastructure

-- Foster partnership between small-scale fruit and vegetable farmers with anchor companies through RM80 million allocation

-- Improve the Agriculture College in Kubang Pasu, Kedah by constructing a diagnostic lab with RM70 million allocation

-- Build an International Centre for Crops of the Future in Semenyih, Selangor with RM157 million allocation

-- Extend income tax deduction incentive for investors and income tax exemption for companies undertaking food production activities for another 5 years until 2015

Tourism
* Provide infrastructure facilities with RM85 million allocation for hotels and resorts in remote areas with the potential to attract tourists

* Construct several shaded walkways in the KLCC-Bukit Bintang vicinity with RM50 million allocation

* Restructure the Department of Civil Aviation to Civil Aviation Authority

* Nexus Karambunai of Sabah to develop RM3 billion integrated eco-nature resort, the first in the world, starting next year. To support the tourism industry, the government will allocate RM100 million

* To promote Malaysia as a shopping haven in Asia, import duty on 300 goods preferred by tourists and locals, at 5% to 30% be abolished. Such goods are apparel, handbags, shoes, shampoo, suits, children's apparel, wallets, hair colourants, golf balls, imitation jewellery, talcum powder, curtains, table cloth, blankets, bed sheets, shirt, undergarments, lingerie, nightwear, perfumes and mosquito netting

Palm oil industry
* Enhance productivity by encouraging replanting activity using high quality new clones, through a fund of RM297 million

* RM127 million allocated to support domestic oleo derivatives companies as well as RM23.3 million to expand downstream palm oil industries including production of vitamins

ICT
* MY Creative Content Programme to be implemented to encourage the development of local content creation, hosting local content and unlocking new channels for content. Allocation: RM119 million

* Govt to extend the investment allowance period for the last mile broadband service providers. Import duty and sales tax exemption on broadband equipment extended for two years until 2012

* 10% sales tax be exempted on all types of mobile phones.

Business services industry
* The Sultan Abdul Aziz Shah Airport, Subang will be developed as a centre for maintenance and overhaul of aircrafts as well as provide specific training to develop experts in this field

* Govt to allocate RM91 million for capacity building in the maintenance, repair and overhaul (MRO) services industry, aerospace and aeronautical engineering training programmes as well as promotion of business outsourcing services

Corridor and regional development
* Govt allocates RM850 million for infrastructure support for corridor and regional development

* For Iskandar Malaysia, RM339 million allocated, including for the construction of highways, development of housing areas as well as providing and improving public transportation services. The amount of investment committed by the private sector as at June 2010 was RM62 billion, surpassing the targeted RM47 billion. Total actual investment up to June 2010 was RM25 billion. The Newcastle University Medicine Malaysia and Chelsea Factory Outlet are expected to be completed in 2011 while Legoland and Marlborough College in 2012.

* The Northern Corridor Economic Region (NCER) is allocated RM133 million, which includes the development of an Agricultural Products Processing Centre, Tourism Infrastructure and a Biotechnology Incubator Centre.

* The East Coast Economic Region (ECER) is allocated RM178 million for projects, including Industrial Parks, Water Treatment Plants, development of tourist areas as well as redevelopment of former Pahang Tenggara Development Authority and Jengka Region Development Authority areas.

* For Sarawak Corridor of Renewable Energy (SCORE), RM93 million allocated for facilities, including telecommunication, water supplies, airport and roads as well as halal food industrial parks.

* For the Sabah Development Corridor, RM110 million allocated, among others, for palm oil industry cluster projects, agro-industrial precinct and integrated farming centre.

Promoting R&D&C
* Research, development and commercialisation (R&D&C) activities allocated RM411 million in 2011

* Special Innovation Unit (UNIK) under the Prime Minister's Department as a one-stop centre to formulate policies and strategies for a conducive ecosystem to drive innovation.

* An Act will be formulated to enable UNIK to commercialise R&D findings by universities and research institutions. For 2011, a sum of RM71 million is allocated for UNIK.

Reforming Insolvency Law
* New Insolvency Act will consolidate the Bankruptcy Act 1967 and Part 10 of the Companies Act 1965, including introduction of provision relating to relief mechanism for companies and individuals with financial problems. The review will also involve amending the minimum bankruptcy limit of RM30,000.

Advancing creative industry
* RM200 million allocated to purchase creative products such as high quality locally-produced films, dramas and documentaries.

Service tax
* Service tax be increased to 6% from 5%. Service tax be imposed on paid television broadcasting

2. Intensifying human capital development
* RM29.3 billion allocated for Ministry of Education, RM10.2 billion for Ministry of Higher Education and RM627 million for Ministry of Human Resource to restructure and strengthen education and training

* Talent Corporation (Talent Corp) to be set up under the Prime Minister's Office in early 2011. It will formulate a National Talent Blueprint and develop an expert workforce database as well as collaborate closely with talent networks globally

Education
* RM6.4 billion allocated for Education Ministry for development expenditure to build and upgrade schools, hostels, facilities and equipment, as well as uphold the status of the teaching profession.

* RM213 million allocated to reward high-performance schools as well as for the remuneration of principals, head teachers and excellent teachers

* Govt will increase pre-school enrolment rate to 72% by end-2011 through an additional 1,700 classes and appoint 800 pre-school graduate teachers.

* RM111 million for Permata programme, including the construction of the second phase of Sekolah Permata Pintar School Complex, 32 Permata Children Centres (PAPN) and financing operations of 52 completed PAPNs and continuing Permata Pintar, Seni, Insan and Remaja Programmes.

* RM250 million for development expenditure to religious schools, Chinese-type schools, Tamil national schools, missionary schools and government-assisted schools

* Primary and secondary rakyat religious schools allocated RM95 million

* RM576 million allocated in the form of scholarships for teachers and instructors wishing to further their studies.

* RM213 million allocated to enhance proficiency in Bahasa Malaysia, strengthen the English Language and streamline the Standard Curriculum for Primary Schools (KSSR). Govt to recruit 375 native-speaking teachers including from the UK and Australia to further enhance teaching of English

* Raise the number of PhD qualified academic staff to 75% in research universities and to 60% in other public institutions of higher learning with RM20 million allocation of RM20 million

* Lecturers can be considered for promotion to the highest grade of Staff III, II and I as well as conferred Premier Professors without holding administrative positions.

Training and skills programmes
* RM60 million to further intensify the Industrial Skill Enhancement Programme in State Skills Development Training Centres. This programme will enhance skills of engineering graduates and technical employees in line with market requirements.

* RM220 million allocated to ensure graduates from other fields are able to enhance their competence and employability. These include the Professional Certification Programme, Sports Development, Entrepreneurship Development and Graduate Employability Management Scheme.

* RM50 million allocated to Multimedia Development Corporation (MDeC) to train graduates in ICT to enhance their employability and to meet the demand of the ICT industry.

* RM474 million provided to enhance productivity and skills of non-graduates, including school leavers, youths and workers as there is high demand for skilled workforce in technical fields.

* 1Malaysia Training Programme, which will commence in January 2011 with RM500 million allocation for upskilling and reskilling of workforce.

* The training programme comprises three components
-- RM200 million allocated to conduct part-time training in the evenings and weekends in selected training centres nationwide. It will be conducted by Community Colleges, National Youth Training Institutes, Giat Mara Centres and Industrial Training Institutes, utilising the existing facilities. Among courses to be offered in the evenings include language classes in Bahasa Melayu, Mandarin, Tamil, English and Arabic as well as music classes. During the weekends, skills and technical courses will be conducted, including baking, tailoring, spa therapy, mechanical, electrical and welding.

-- RM200 million from the Human Resource Development Fund to be used by companies to fund specific training programmes for their employees.

-- Ministry of Human Resource to provide RM100 million to enable employees to enhance skills in various technical fields.

Enhancing productivity
* National Wage Consultation Council to be set up as the main platform for wage determination. It comprises representatives from employers, trade unions, non-unionised employees, government agencies, academia, NGOs and individuals. The Ministry of Human Resource will be the Secretariat for this Council.

* The basic salary of postmen was raised to RM710 on July 1, 2010 from RM610 per month. With this adjustment, the monthly salary of postmen including fixed allowances increased to RM1,285 from RM1,035.

* Basic minimum wages for security guards set at between RM500 and RM700 a month depending on location, compared with RM300 and RM400 currently. With this increase, security guards will now enjoy a monthly salary including allowances exceeding RM1,000. The increase is effective January 2011.

* Govt will continue to reduce the number of foreign workers by increasing in stages the levy according to sector. It is also mandatory for employers to procure health insurance for their foreign workers.

* To enhance women's participation in entrepreneurship, the govt allocates RM30 million to introduce the Single Mother Skill Incubator Programme and the Prime Entrepreneur and Women Activist Award in conjunction with Women's Day commencing 2011.

* A pioneer Small Office Home Office programme to be implemented to train disabled women in various skills for a period of three months.

* Govt to provide and re-brand 40 1Malaysia Taska, managed by the Department of Social Welfare to assist women to obtain quality childcare and early education for their children.

* Govt to allow flexibility to self-determine fully-paid maternity leave, not exceeding 90 days from the current 60 days. This facility is subject to a total of 300 days of maternity leave throughout the tenure of service.

Sports
* For sports development and management, RM365 million is allocated to the Ministry of Youth and Sports. Govt to establish a Football Academy in Pahang with an allocation of RM20 million to produce quality and highly skilled football players.

3. Enhancing quality of life of Malaysians

Assisting the less fortunate
* Govt to allocate RM1.2 billion to the Ministry of Women, Family and Community Development to carry out various welfare and community programmes:

-- Welfare assistance for senior citizens with RM166 million allocation. This group is estimated to increase to more than 15% of the total population by 2030

-- Children's assistance programme with RM121 million allocation to enable them to receive quality childcare and early education. This programme will benefit 97,000 children

-- Assistance programme to benefit 80,000 disabled individuals with RM218 million allocation

-- Excise duty exemption be increased from 50% to 100% on national vehicles purchased by the disabled

-- Construction of an intervention centre for the homeless by providing employment opportunities, housing facilities and counselling

* Govt to continue rebate on electricity bill payment for monthly consumption of below RM20 with RM150 million allocation to ease the burden of the low-income group.

* Existing tax relief of up to a maximum of RM5,000 be extended to cover other expenses such as day care centre, cost incurred to employ caretakers for parents and other daily needs such as diapers.

House ownership
* RM568 million provided to build 300 units under Projek Bantuan Perumahan Bandar, 79,000 units under Program Perumahan Rakyat and 8,000 units under Projek Bantuan Rumah Sewa.

* To assist estate workers to own houses, the Government will provide Skim Pembiayaan Perumahan Kos Rendah with RM50 million allocation, managed by Bank Simpanan Nasional. The scheme is open to all Malaysian permanent estate workers to assist them to obtain housing loans with a maximum of RM60,000 for the purchase of low-cost houses at 4% interest rate and a repayment period up to 40 years extending to the second generation.

* Govt will introduce Skim Rumah Pertamaku through Cagamas Berhad which will provide a guarantee on down payment of 10% for houses below RM220,000 to first-time house buyers with household income less than RM3,000 per month. In other words, the house buyers will obtain a 100% loan without having to pay the 10% down payment.

* First-time house buyers will also be given stamp duty exemption of 50% on instruments of transfer on a house price not exceeding RM350,000. Stamp duty exemption of 50% to be given on loan agreement instruments to finance such first-time purchase of houses.

Rural population
* RM6.9 billion allocated to implement basic infrastructure such as water and electricity supply as well as rural roads. Among the main projects to be implemented are:

-- Build and upgrade rural roads in Sabah and Sarawak with RM2.1 billion allocation and RM696 million in Peninsular Malaysia

-- Provide water and electricity supply in rural areas of Sabah with RM1.5 billion allocation, Sarawak RM1.2 billion and Peninsular Malaysia RM556 million

-- Provide comfortable houses for the poor and hardcore poor in rural areas with RM300 million allocation. This programme will involve the construction and repair of 12,000 houses nationwide, particularly in Sabah and Sarawak

-- Provide Unit Khas Bergerak Jabatan Pendaftaran Negara to facilitate rakyat in the interiors of Sabah, Sarawak and Peninsular, to register for citizenship

Easing consumers' burden
* RM974 million allocated as price subsidy for paddy, fertilisers and paddy seeds and RM230 million for production incentives and increasing paddy yield, RM170 million in incentives for fishermen and boat owners and workers.

* To standardise the prices, Distribution of Essential Goods Programme for goods such as rice, cooking oil, sugar, flour, gas, petrol and diesel in 2010 to be carried out with RM100 million allocation. For 2011, RM200 million allocated for the programme.

* "1Malaysia Smart Consumer" portal to help the rakyat keep abreast with price movements of goods in almost 7,000 business premises nationwide. Through this portal, consumers have the option to purchase goods at competitive prices. Consumers can also utilise short messaging services (SMS) to obtain latest information on prices of goods.

* Retail Shop Transformation Programme (TUKAR), Automotive Workshop and Community Market projects to upgrade and modernise facilities with an allocation of RM73 million.

* Govt to continue Projek Penyelenggaraan Aset Awam or PIA/PIAS with RM500 million allocation for repairing and upgrading of public amenities, drains, drainages, small bridges and rewiring as well as construction of agriculture and kampung roads. The implementation of these small projects will assist Class F contractors nationwide.

Community leaders
* Govt to increase the monthly allowance for the chairman of Jawatankuasa Kemajuan dan Keselamatan Kampung (JKKK) and Persekutuan (JKKP), Tok Batin, chairman of JKKK Orang Asli, chairman of Kampung Baru to RM800 from RM450.

* Allowance extended to the Ketua Kampung Baru Rangkaian and Ketua Kampung Bagan. Meeting attendance allowance to all committee members raised to RM50 from RM30.

* Effective January 2011, the monthly allowance of Imam will be increased to RM750 from RM450, while the monthly allowance for KAFA teachers to RM800 from RM500.

Orang Asli and pribumi
* RM100 million allocated to implement various programmes, including resolving Orang Asli land rights and border settlement issues as well as formulating a new development model for Orang Asli.

* Jabatan Hal Ehwal Orang Asli will be restructured and strengthened as Jabatan Kemajuan Orang Asli.

Transport, public health and security
* Toll rates in four highways owned by PLUS Expressway Berhad will not be raised for the next five years, effective immediately.

* RM15.2 billion allocated for new hospitals, increase the number of doctors and nurses, and for medicines and equipment.

* Govt to allocate RM350 million to combat crime, including burglary, motorcycle and car thefts as well as promoting safe townships and Voluntary Patrol Scheme in high-risk areas. An additional 25 special courts to be established to expedite prosecution.

Non-governmental organisations
* RM70 million for programmes and activities involving selected NGOs to strengthen family institution and addressing social ills such as baby dumping, "mat rempit" and gangsterism.

Environment
* RM1.9 billion to finance environmental preservation projects, including implementing the River of Life Programme and greening of Kuala Lumpur.

* The govt will also undertake efforts to preserve marine sources and coastal areas including Pantai Siring in Melaka, Pantai Sabak in Kelantan, Teluk Lipat in Terengganu and Rompin in Pahang.

Corporate social responsibility (CSR)
* Khazanah Nasional Berhad (Khazanah) in collaboration with the Ministry of Education, will establish 10 Trust Schools which will be managed more professionally to ensure students obtain quality education.

* To assist children, particularly those from the low-income group excel academically, the 1MDB will provide multi-vitamins for primary school students.

* 1MDB to provide RM20 million to the 1Malaysia Youth Fund to be utilised to instil the 1Malaysia spirit.

* 1MDB to implement 1Malaysia Mobile Clinics with four buses as mobile clinics in collaboration with the Ministry of Health.

4. Strengthening public service delivery

Government agencies
* The govt will ease private sector dealings with its agencies. Towards this, the MyCoID Gateway initiative utilising the Companies Commission of Malaysia's single reference number has been implemented. This initiative will be extended to other ministries and agencies.

* A point system to facilitate applications for permanent resident status (PR) to be introduced. The application for PR may be submitted after 5 years of residence compared with 10 years previously.

To expedite the process of property registration, the Stamp Act 1949 was amended to enable the Valuation and Property Services Department assess properties after the payment of stamp duty to the Inland Revenue Board. This improvement will reduce the property registration process from 30 days to one day.

Civil servants
* Competency Level Assessment or PTK to be abolished and replaced with a more suitable evaluation system by June 2011

* Reduce the burden of civil servants in coping with schooling expenses by providing a Special Financial Assistance amounting to RM500 to all from Grade 54 and below, including contract officers and retirees. The payment will be made in December 2010.

* Increase the rate for Funeral Arrangement Assistance to RM3,000 from the current RM1,000. This assistance is also extended to retired civil servants

* Extend the services of Pegawai Khidmat Singkat (PKS) for an additional one year from December 2010. However, ministries and agencies are not allowed to increase the number of PKS.

* Housing loans for civil servants allowed for the purchase of properties from parents, children and siblings

* Housing loan amoung raised to RM20,000 from RM10,000 for additional works on low-cost houses for Support Group II.

* Maximum loan eligibility raised to RM450,000 from RM360,000 currently.

* Improvements to housing loans to be effective Jan 1, 2011.

2011 Budget allocation

* Allocation of RM212 billion for the 2011 Budget is 2.8% higher than the allocation for 2010. Of this, RM162.8 billion is for operating expenditure and RM49.2 billion for development expenditure.

* Under operating expenditure, RM45.6 billion for emoluments, RM28.2 billion for supplies and services, RM86.4 billion to fixed charges and grants, and RM1.4 billion for purchase of assets and RM1.2 billion for other expenditures.

* As for development expenditure, RM28.3 billion for the economic sector for infrastructure, industrial, agricultural and rural development.

* RM15.5 billion allocated to the social sector, including education and training, health, welfare, housing and community development.

* RM4.4 billion allocated for development of the security sector, RM955 million for general administration and RM2 billion contingencies.

* Federal government revenue collection is estimated to increase 2.3% to RM165.8 billion in 2011, compared with RM162.1 billion in 2010.

* Taking into account the estimated revenue and expenditure, the deficit for 2011 is expected to further decline to 5.4% of GDP, compared with 5.6% in 2010.

Malaysia Future MRT Plan

2010-10-12T00:00:00.000-07:00

PETALING JAYA: The proposed mass rapid transit (MRT) system is expected to be one of the main contributing factors to boost property prices adjacent to the MRT stations.

CB Richard Ellis (M) Sdn Bhd executive director Paul Khong said the MRT stations generally had a positive impact on nearby property values in most cases.

“Being next to the station works well for lower and middle-end residential neighbourhoods and all commercial offices or retail malls. This basically translates to better public transportation and enhanced accessibility to the relevant vicinities,” he told StarBiz.

“The MRT will benefit the lower to middle-end users the most and it makes travelling faster, cheaper and much easier.”

On the expected quantum capital appreciation due to the MRT stations, Khong said it could be 10% to 15%.

“More importantly, the MRT station must be less than a 1O-minute walk from the properties. Ultimately, being next door and within five minutes away will be a premium.

“Anything more will give less impact in terms of capital values,” he said. “Being next to a MRT station could be the main selling point for a new project, be it a commercial or a residential one. A good example will be Menara UOA in Bangsar.”

But, Khong said, the property prices could be affected if it was alongside the MRT tracks and not the station. “The crucial point is to be close or next to the station if possible,” he said.

The RM36bil MRT system proposal by Gamuda Bhd and MMC Corp Bhd will have up to three main lines. The first line will run through Sungai Buloh, Kota Damansara, Kuala Lumpur and Cheras (right up to Kajang).

The second line will connect Sungai Buloh, Kepong, Kuala Lumpur and Serdang, while the third line will loop around Kuala Lumpur’s business district – providing a link between the monorail and light rail transit (LRT) services.

The Gamuda-MMC proposal is currently undergoing technical study by a consultant and should be completed by mid-month to be presented to the Government.

At this point in time, there is no information on the exact locations of the proposed MRT stations.

According to property consultancy Khong & Jaafar Sdn Bhd managing director Elvin Fernandez, most of the areas around the LRT stations have been developed and it is axiomatic that accessibility would improve property values.

“But the impact wouldn’t be immediate as the MRT will take time to complete and the effect will be evident only from details of the exact positions of the rails and stations filtering into the market in time to come,” he said.

Based on preliminary details of the MRT, Fernandez said the Sungai Buloh area (the Guthrie Corridor townships) and the proposed Rubber Research Institute Malaysia developments could be among the first beneficiaries because both lines were expected to start from there.

“Kajang and Seri Kembangan are the next areas to flourish as they are on the other end of the line. Additionally, the Cheras corridor also has good prospects,” he said.

Nevertheless, Fernandez said, some developments might be negatively affected, especially residential developments, due to the noise or congestion if they were close to the rail lines or stations.

“But generally, the MRT should bring positive effects to the nearby areas,” he said.

According to a market source, another area that would have potential based on the proposed MRT system was the Kota Damansara corridor.

“The Kota Damansara corridor includes Kota Damansara, Mutiara Damansara, Damansara Perdana and The Curve. Business and financial districts along Jalan Raja Chulan, Jalan Bukit Bintang and Suria KLCC also have good prospects,” said the source.

By The Star

Gamuda hopeful KL MRT work can start next year

By Lee Wei Lian June 25, 2010

KUALA LUMPUR, June 25 — Gamuda Berhad, which is bidding to build a 150km long MRT system costing RM36 billion for the city, is pressing ahead with its plans and expects a decision in the next 2-3 months with work commencing early next year.

Gamuda had yesterday briefed local research houses that feedback so far on its proposal to build the MRT, which The Malaysian Insider understands was unsolicited, was “positive” and pointed out that the MRT was featured as a cornerstone agenda in the 10th Malaysia Plan.

The tender is likely to be done via the Swiss Challenge system, a form of public procurement in usually less-developed countries whereby public authorities receiving an unsolicited bid for a project invites third parties to match or exceed it.

A report by OSK Research said that the Gamuda management, along with its joint venture partner MMC, feel that they have a 80-85 per cent chance of winning the job and work could commence as early as early 2011.

An Amresearch report said that Gamuda has already commenced soil investigation and survey works to prepare the groundwork for the project.

The research house added funding would likely be government backed and part of the funding would be raised via a privately held special purpose vehicle (SPV).

It said that Gamuda’s management revealed that any amount to be raised by the private SPV would likely be backed by the Federal Government under a deferred payment scheme that may take between 10 to 30 years, implying AAA-rating for any papers to be issued.

“Based on the views provided by its financial advisors, Gamuda believes that it would not have problems raising between RM6bil-RM7bil in new debt issues a year,” said Amresearch.

The Gamuda-MMC JV could also opt to raise RM3 billion in bridging loans to kick-start construction works said the local research house and could be required to place an RM1.8 billion performance bond.

“Debts are non-recourse to the Malaysian Government , that is the bridging loans would only have recourse to the Gamuda-MMC JV,” said Amresearch. “Such proposals are offered to ring-fence the Federal Government’s obligations in the event that the project fails.”

The Gamuda management had also apparently estimated that the land acquisition costs would amount to just over RM2 billion and that Gamuda has submitted a legal opinion to the Attorney-General’s office to amend existing legislation to expedite land acquisition.

Gamuda also told analysts that the amount that could be saved from petrol subsidies — estimated at RM60 billion over the last five years — could fund the MRT project and the company’s internal studies showed that the government could save up to RM12 billion a year from the MRT which would be enough to build MRT systems in Penang and Johor Bahru as well.

The company had also acknowledged that MRT systems tend not be commercially viable but have substantial spin off economic benefits and estimated that for every RM100 million that the government would spend on the MRT, RM25 million in annual economic benefits would be generated for the country in the next 50 years, including increased productivity, lower accident rates and lower carbon emissions.

OSK Research however felt that while the project was good, it would face obstacles given the huge RM36 billion investment needed when the federal government is trying to reduce its deficit.

“We believe funding is a prime concern given the Govt’s efforts to cut its deficit. Secondly, the implementations of such large scale jobs are usually faced with many hiccups,” said OSK Research. “The RM12.5bn Electrified Double Track is an example which was awarded in 2003 before being pulled back and re awarded again only in end-2007.”

Kuala Lumpur currently does have several light rail transit lines but they are poorly integrated, have lower capacity than an MRT, and do not hit many commercial centres, lessening their appeal.

The city also lags behind major world cities in terms of rail infrastructure per million of population. It currently only has 15km of rail per million people as compared with 53km in London, 30km in Beijing, 40km in Singapore and 27km in Seoul.

If the proposed 150km KL MRT system and planned LRT extensions takes off, it is projected that the figure for KL will rise to 40km per million people.

Temasya, Glenmarie

2010-08-17T02:37:00.000-07:00

TemasyaGlenmarie is a premium new township that sits quietly within a location that's close to everything. Flanked by Subang Jaya, Shah Alam, Kelana Jaya and metro Petaling Jaya, accessibility is a singe. Modern amenities, facilities and attractions are almost literally around the corner but yet the township preserves an oasis of calm because of its low-density. The entire landscaping is for aestheticism, privacy and security, shielding residents from any bustle on the periphery. With the relatively small number of units planned now and into the future, TemasyaGlenmarie offers residents two very distinct advantages: Capital Appreciation and Space (which is evident in the 60-feet wide neighbourhood roads and even a back lane that is 40-feet wide).

The original concept of outer city living

Living on the city outskirts has its obvious appeal. A location that's near to economic and social hubs yet far enough away from the hustle and bustle is a choice for many. The convenience is also a pulling factor, especially the modern and well-developed access and not to mention, the self-containment of many a suburban enclave. The ultimate draw, however, has to be the sheer space available within this outer city living environment. Space that in this day and age, becomes less a luxury than it is a necessity.

Temasya Suria Superlink Homes

The most inspiring feature of this superlink design is space. Suitably set for the extended family, Temasya Suria Superlink Homes also exude a retro feel that will have every generation proudly reminiscing and discovering, hence bolstering intimacy among loved ones. With built-ups measuring between 3,427 sq.ft. and 4,652 sq.ft. buyers need only to decide between space and a lot more space.Phase : Superlink (TemasyaSURIA)

Prp. Type : 2 Storey Superlink

Lot. Size (sqf) : 28 x 120

Built-up Area (sqf) : 4,562 - 4,652

Price Range (RM) : From 1,023,00 - 1,390,000

Sales Status : SOLD OUT

Date Launch : 1 August 2009

Date Of Completion : DECEMBER 2009

Phase : Superlink (TemasyaSURIA)

Prp. Type : 2 Storey Superlink

Lot. Size (sqf) : 28 X 96

Built-up Area (sqf) : 3,920 - 4,027

Price Range (RM) : From 880,000 - 1,166,000

Sales Status : SOLD OUT

Date Launch : 1 August 2009

Date Of Completion : DECEMBER 2009

Phase : Superlink (TemasyaSURIA)

Prp. Type : 2 Storey Superlink

Lot. Size (sqf) : 28 x 86

Built-up Area (sqf) : 3,427 - 3,475

Price Range (RM) : From 750,000 - 997,000

Sales Status : SOLD OUT

Date Launch : 1 August 2009

Date Of Completion : DECEMBER 2009

Location

TemasyaGlenmarie is strategically located within close proximity to Kuala Lumpur, Petaling Jaya, Subang Jaya, Shah Alam and Klang and is easily accesible through major highways such as Federal Highway, North Klang Valley Expressway (NKVE), New Pantai Expressway (NPE) and Guthrie Corridor Expressway.

Devolopment

This mixed development spans accross 231.18 hectares of land. The commercial and industrial properties are intended for high valueadded activities and businesses generally associated with sales and servicing, logistics and administratio centres. The residential properties are designed for those seeking convenient urban location with excellent connection to major urban areas.

Amenities

KTM, Subang Jaya Medical Centre, Subang Parade Mall, Subang Skypark (Airport), Community Centre, Carefour, Glenmarie Golf Club, Saujana Golf Club.

Source: Click here!

Picture for Park View

2010-07-06T08:21:00.000-07:00

Parkview Service Apartment @ KLCC RM 2800

2010-05-10T09:44:00.000-07:00

Parkview service apartment at KLCC is developed by Mayland. Jv with a Martego Sdn. Bhd. A subsidiary of Chueng Nuek HK. Cecil Chao a 70 years old billionaire developer in Hong Kong. They Owned this land for more than 10 years. Parkview is their 1st Phase. 2nd phase will be The Central Tower. A 50 storey building comprises condos and a 30,000 sf shopping centre. They will start work anytime this year. Estimate completion date will be anytime in 2012.

Okay. Back to Parkview. It was completed in December 2007. Previously was named Parkview Luxury 2-11. Because the Hong Kong guy owned from 2nd floor to 11th floor. The rest 12th floor to 38th floor was selling by Mayland. Most if the units is fully furnish units ranging from 405sf to 650sf. Only about 5 units is 1100sf only 1 bed. Facilities is as usual. Swimming pool, sauna, and gym. The security is okay but the maintenance fees is cheap at these kind of area. Only RM0.35 per sf. Selling price is about RM 850-900 per sf. But rental is higher at RM5-5.90 per sf. This is consider a good investment due to its location within walking distance to KLCC and nearby surrounded by offices and commercial buildings. I see future capital appreciation due to its havent touch the peak price yet.

Only next to it is Idaman Residences is selling RM900-1000 per sf. Dont even mention about Marc Residence is all above RM1000 per sf nowadays. What about Fraser Place? It is even more expensive than Marc Residence.

Currently I'm looking a tenant for RM 2800 for long term. At least one year lease. Fully furnish as I've mentioned before. Move in condition.

For sale also.

Call now to avoid disappointment: +6012-3900488 or email me at mabelchow@reapfield.com

Income Tax

2010-04-22T06:48:00.000-07:00

Headache..I found myself calculating my whole year receipts for more than 8 hours on couch. Just do not want to miss out any tax relief. Even though it did not help much. I will suggest you to hire some professional to help you out on this. There are several improvements in this year e-Filing that makes this web service from LHDN more usable:
If you have not used e-Filing last year, you don't have to go to LHDN branch to get your PIN number. The PIN number for you to download your digital certificate is at the second page of your Tax Form.You don't need to fill up a PDF form. Last year the compatibility of PDF version did caused troubles to many people. The entire filing process is done in LHDN's e.hasil.org.my web site.All calculations are done when you fill up the online form. You still need to do some calculations, i.e. total receipts for medical and education insurance premium, purchase of books, etc. But overall the auto tax computation function eliminate many unnecessary tables, rows and columns. The entire process is simple and the online form is clean.You can save your work (press "Simpan dan teruskan") and exit (press "Keluar"), and to come back in few hours later to complete your tax works.

Off course there are still some minor problems:
LHDN, being an inflexible government body, still do not provide language option like English, Mandrin, Tamil, etc. They assume everyone who fill the tax form must know Bahasa Malaysia. I suspect they forget their role is to make tax submission easy and are not in the position to promote such racist's or nationalism's pride. I had to called my friend to ask some of the meaning of words, i.e. what is "papar" (regarding my Digital Certificate). It will be good if LHDN will provide multi-ligual tax form in the future. We are a country with lingual diversity.The process of filling up the form, at times, can be really slow. May be this is due to last minute submission. However, LHDN should ensure sufficient capacity to deal with last minute submission.eBayaran is a joke. Unless you have CIMB or Public Bank internet banking account, you will still need to physically go to your banks...errr...only for two more banks, i.e. Maybank2e and Hong Leong Bank, to register before using the eBayaran. I decided to physically go to Public Bank to pay my tax.More explanations should be provided in the online form guiding those who are less financial savvy in filling up the form, i.e. what should be done in "isteri" form, if you choose "bersama atas name isteri", etc. (answer: add another RM3000 relief in your "isteri" form)

Overall, tax submission process was much improved this year. It should be the way to go for the future.

Below is some tax relief for your info.

No.	Individual Relief Types	Amount
1	Self and Dependent	8,000
2	Medical expenses for parents	5,000 (Limited)
3	Basic supporting equipment	5,000 (Limited)
4	Disabled Individual	6,000
5	Education Fees (Individual)	5,000 (Limited)
6	Medical expenses for serious diseases	5,000 (Limited)
7	Complete medical examination	5,00 (Limited)
8	Purchase of books, journals and magazines	1,000 (Limited)
9	Purchase of personal computer	3,000 (Limited)
10	Net saving in SSPN's scheme*	3,000 (Limited)
11	Purchase of sport equipment for sport activities	300 (Limited)
12	Husband/Wife/Alimony Payments	3,000 (Limited)
13	Disable Wife/Husband	3,500
14	Ordinary Child relief	1,000
15	Child age 18 years old and above, not married and receiving full-time tertiary education	1,000
16	Child age 18 years old and above, not married and pursuing diplomas or above qualification in Malaysia @ bachelor degree or above outside Malaysia in program and in Higher Education Institute that is accredited by related Government authorities	4,000
17	Disabled child

	Additional exemption of RM4,000 disable child age 18 years old and above, not married and pursuing diplomas or above qualification in Malaysia @ bachelor degree or above outside Malaysia in program and in Higher Education Institute that is accredited by related Government authorities	5,000
18	Life insurance dan EPF	6,000 (Limited)
19	Insurance premium for education or medical benefit	3,000 (Limited)

* SSPN -> Skim Simpanan Pendidikan Nasional

Do check whether you have missed out any tax relief items or do a proper planning to see whether some of the items can help you to reduce your personal income tax rate. Tax planning is an important aspect in our personal financial planning.

Do wait for the next upcoming year 2010 budget that is going to be presented on 23 October 2009 (Friday) to determine whether there is new items or amount modification.

Source: Click here...

Property Outlook in the KLCC Vicinity

2010-04-09T10:23:00.000-07:00

Posted Date: May 01, 2008

By: Milan Doshi

Could Kuala Lumpur's hottest property location in the vicinity of the iconic Petronas Twin Towers get adversely affected by fears from the looming US economic recession triggered by the US sub-prime crisis and the recent general election setback suffered by the ruling Barisan Nasional?

This article examines the developments in this much sought-after location where prices of high-end condominiums have doubled from RM700 per square feet a few years ago to around RM1,500 to RM2,000 per square feet depending on the project and location. The KLCC residential property market is often used as a barometer to gauge foreign interest and to compare property prices in the rest of the country.

Supply Side Developments

1. According to statistics by CH Williams Talhar & Wong, in 1995 the KLCC area had only six developments and some 928 units of high-end service residences. By 2007, the numbers had ballooned to 27 developments and some 8,000 units. Over the next three years, an additional 6,000 units are expected to come into the market. By end 2010, there could be more than 15,000 service residences in the KLCC vicinity. The KLCC area would only find its market equilibrium in three years’ time assuming no new developments are launched!

2. With thousands of new units in the pipeline, this will most likely result in an over-supply situation. The similarity of these high-end units, all within a short walking distance and who are all perfect substitutes for each other, is unlikely to result in significant capital appreciation or a sustainable rental yield.

Hence it’s extremely important for investors to invest in unique, quality and premium projects that truly stand head and shoulders above others. However, many investors may not have the financial muscle to invest in these premium developments.

3. With so many developments taking place within such a short period, some projects that are not well branded could unfortunately become white elephants. The buzzword in the KLCC area is Branding, Branding and Branding, as opposed to the traditional property mantra of Location or Pricing.

4. With oil and building material prices such as steel and cement heading north, new developments can only be launched at higher prices.

Demand Side Developments

1. Land prices in the KLCC area were around the RM600 per square feet mark three to four years ago before the upswing in the property cycle. Owing to the scarcity of land in the area, land prices will continue to rise. Hence investors can remain optimistic that real estate prices in the area can be sustained.

2. Conglomerate YTL Group recently set a new benchmark in the area. In the first week of April and barely a month after the general elections, it acquired a plot of land measuring slightly less than an acre on Jalan Stonor in the KLCC area for RM85 million or some RM2,000 per square feet beating the previous benchmark of about RM1,500 per square feet.

This latest land acquisition proves that there is indeed still more upside as YTL is considered to be one of the top ten niche developers in Malaysia.

3. Property experts expect the next price benchmark for the KLCC area to hover around the RM2,500 to RM3,000 per square feet mark, with the really good developments such as the Four Seasons hotel-cum-apartment complex, now under construction, to fetch as much as RM3,500 per square feet. Believed to be launched at an average of RM2,000 per square feet, the units at the prestigious development are said to be selling at RM3,000 per square feet now.

4. Another development that is already generating interest is the 42-storey Millennium Residences situated on Jalan Bukit Bintang next to Pavilion KL, a posh new mall competing with the well-established Suria KLCC. Although it is a bit further from the KLCC and prices have not been confirmed yet, some agents think it is unlikely to sell for under RM1,800 per square feet.

5. Foreign investors, especially from the Middle East, account for about one-third of new units purchased. For them, the high-end property market in the KLCC area is still attractive in strategically located and concept-driven projects viz a viz other countries. Many are happy not to rent out their apartments but prefer to keep them for occasional use and to hold on for capital appreciation. This could ease some of the pressure on rental yields when more units come on-stream.

For local investors, many would prefer to invest elsewhere in the country. For the price of a high-end condo in the KLCC, they can easily purchase a landed commercial property somewhere else within the Klang Valley.

Other Factors

1. With numerous residential and commercial developments taking place in KLCC area, traffic congestion, parking and flooding will worsen. Public infrastructure such as public transport needs to be improved. The situation is unlikely to get better anytime soon despite efforts by the authorities to encourage city living so that Kuala Lumpur is busy 24/7 instead of during working hours only.

2. The recent general election results have not scared investors as real estate is a long-term investment. Many property agents have reported seeing transactions increase a week after the elections. In fact with more opposition candidates being voted in, the efficiency and transparency of the civil service can only get better over time.

3. In recent years, successful developers from Singapore are venturing into Malaysia because they feel the market here has not peaked yet as Malaysia with its bigger population is still in a growth cycle.

With the KLCC area already congested and with thousands of new high-end units coming on-stream in the next few years, it will be interesting to watch developments in the KLCC property market. What happens here will have important implications for the property market in other areas within the Klang Valley and the rest of the country.

If you have any comments on this article or questions, please email to me at achievers88@yahoo.com. I would highly recommend that you sign up at our moderated getrichbook egroups at:

http://finance.groups.yahoo.com/group/getrichbook/

It's free for all my book readers and readers of this article. Only relevant emails pertaining to finance, property and stock investments will be approved for broadcast.

Article Contributed by:

Milan Doshi

Financial Trainer and Best Selling Author of

“How You Can Become a Multi-Millionaire Real Estate Investor!”

For more information, visit www.milandoshi.com

Source: http://www.iproperty.com.my/news/55/Property-Outlook-in-the-KLCC-Vicinity

Parkview Service Apartment @ KLCC

2010-04-06T04:06:00.000-07:00

Parkview is a service apartment located 10 minutes walking distance from KLCC. Within the vicinity you can find a lot of night clubs. Due to the prices of rental as well as sales. It is consider the cheapest compared to Marc Residence and One KL. Expatriates and outstation people enjoy their stay here due to nearby offices building like IMC, Prudential, UBN etc. Nearby hotels are Concorde, Shangrila etc.

Storey: 41

Units: 417

Sizes: 485 sf-1799 sf.

Facilities: Swimming pool, Sauna, Wifi, Laundry, Housekeeping, Etc.

Urgent sale!!! RM430k

500sf, KL Tower view, fully furnish, can rent up to RM2800-3000.

Here's One Good Way of Selling Property

2009-10-02T11:19:00.000-07:00

Personally I've been in this industry for more than 3 years. I've met nasty buyer. In decisive ones.. and alot more to be listed here. So when I try to type Real Estate in Youtube for some brilliant idea. Here's what I've found.
Enjoy it. For some buyers who are watching this. Please beware before you decide to see any property just in case you bump into any agent like this. Hahaha!!!

Watch it, you'll what I'm talking about.
http://www.youtube.com/watch?v=HAeprWIOQqQ

iProperty.com Survey: Malaysians feel that property prices are too high

2009-05-29T00:54:00.000-07:00

Majority of Malaysians not buying yet despite property surplus, preferring to wait for prices to fall
May 26, 2009

KUALA LUMPUR, MALAYSIA, 26 May 2009 – iProperty.com Malaysia (www.iproperty.com.my), Malaysia’s No. 1 property website and part of the iP

roperty.com Group (www.iproperty.com), reveals the results of its latest survey on the real estate market, which show that the majority of Malaysian property hunters feel that there is a property surplus in Malaysia and that most selling prices are unrealistically high.

Results of three separate polls, which were carried out between 11 February and 14 April 2009 in three countries – Malaysia, Singapore and Hong Kong – reveal that all three countries carry similar sentiments, with majority of respondents opining that there is a surplus of properties in their respective markets and selling prices are too high. Majority of these respondents also plan to buy properties in the near future but are waiting for prices to fall further before making any purchases.

Poll 1: Do you think there is a property surplus in Malaysia?

Out of the total 110 respondents who participated in the first poll, 84.5% felt that there is a property surplus in the country while the remaining 15.5% felt otherwise.

Chart 1: Malaysia, poll results

Poll 2: Are you planning to buy property in the near future?

Out of the total 100 respondents, 39% said that they might buy properties but are waiting for prices to fall further while 27% felt that it is a great time for bargain hunting.
Another 21% expressed interest in buying properties but cannot afford to while 8% are considering it.
5% are not interested in buying properties in the near future.

Chart 2: Malaysia, poll results

Poll 3: As a property hunter, how are you finding the search process?

Out of the total 275 respondents, majority (58.9%) felt that current asking prices are unrealistic while 12% found that there aren’t a lot of properties available and when a suitable unit is found, there are many other buyers vying for it too.
Meanwhile, 9.8% found it almost impossible to find properties and need to rethink all factors considered before the market downturn and 8.4% felt that there are places available but buyers really need to hunt for them.
About 10.9% felt that there are plenty of options available especially in the buyer’s market.

Chart 3: Malaysia, poll results

From the results, it is safe to conclude that there is still a lot of demand for properties, with many buyers still on the lookout for great bargains. Despite the surplus of properties in Malaysia, most buyers feel that asking prices are unrealistic and prefer to wait for prices to fall further.

According to Executive Chairman of the iProperty.com Group, Patrick Grove, one can expect the number of transactions to increase as the gap closes with sellers eventually bringing down prices in order to sell their properties.

“Sellers will eventually lower asking prices when properties have been on the market for too long and the more desperate sellers will definitely do so to realise cash for other needs. On top of that, there is a huge supply coming onto the market and this will put downward pressure on property prices. Bargain hunters will definitely snap up good deals during this period,” says Grove.

Grove adds that there is further evidence of big demand for properties in Malaysia, with the recent iProperty.com Expo “Property Showcase” receiving 30,000 visitors snapping up RM50 million worth of properties during the three-day event which ran from 10 until 12 April at the Mid Valley Exhibition Centre.

In the previous two polls carried out by iProperty.com Malaysia, results showed that Malaysians were still optimistic about the market and this is further proven by the latest polls. Grove had previously attributed the optimism towards the less profound impact of the US financial crisis and the fact that the Malaysian market was growing at a different rate from other countries prior to the crisis.

The iProperty.com Group is Asia’s leading network of property portals. iProperty.com Malaysia was recently ranked by Google Ad Planner as the top property portal in Malaysia, with over 300% more unique visitors and 1750% more page views than its closest competitor.

In addition to the speed and convenience of the internet, iProperty.com provides consumers with a greatly enhanced property hunting experience via a comprehensive range of features and property hunting tools. These include a powerful search function; a large database of the latest listings complemented by photos, videos, virtual tours and Google maps; email alerts; a large pool of useful resources and guides, and iExpert, a novel platform for users to seek answers

and share knowledge on property related matters. On top of that, it regularly carries out surveys and polls to collate useful data for its consumers, as an added value for property hunters and sellers alike.

iProperty.com online polls and surveys are conducted across three countries – Malaysia, Singapore and Hong Kong – on a regular basis. These polls pose questions that elicit market sentiment in these three key Asian markets in the real estate industry. The results of iProperty.com’s online polls and surveys are relevant, current and reflective of the market as it reaches a wide audience with its large volume of traffic website and unique visitors.

Source click here!

Property News

2009-05-21T03:08:00.000-07:00

GENERAL PROPERTY MARKET

1. New investment wave to hit Malaysia
 Up to RM4 billion of foreign direct investment (FDI) is expected to come from Middle East, South Korea, Hong Kong, China and Taiwan
 A Korean developer has acquired 0.4ha in Jalan Kia Peng, Kuala Lumpur for RM2,500 per sq ft to build a luxury one-block residence for around RM1billion.
(Business Times, 2-Sept-08)

2. New LRT lines
 42km Kota Damansara-Cheras new LRT and 15km extension to the Kelana Jaya and Ampang LRT lines would be ready by 2011
 First train from 35 new trains for the Kelana Jaya LRT would be operational by September 2009
 This new 42km Kota Damansara-Cheras line would have 32 stations, 5 of which would be underground.
(The Star, 5-Sept-08)

3. Falling oil price holds mixed fortunes for Malaysia
 On 10 Sept, crude oil futures traded in London dipped below US$100 per barrel for the first time since April
 Crude oil price hit a record US$147 per barrel on July 11, but had since dropped 30% on concerns that demand would falter with the slowing global economy growth
 The ringgit had fallen 7% over past three months to settle at 3.4595 on 10 Sept against US dollar. It hit 3.4680 in intra-day trade, the lowest in one year
 The US dollar rise against all major currencies was one of the main reasons for the fall in prices of crude oil and other commodities, including crude palm oil and gold.
(The Star, 11-Sept-08)

RESIDENTIAL/ TOWNSHIP

4. Batu Feringghi land sale
Vendor : Ooi Cheang Cheang Purchaser : Encorp Berhad Location : Seksyen 2, Bandar Batu Feringghi District : Daerah Timor Laut, Pulau Pinang Land Area : 5.831 acres Price : RM15,500,000 (RM61 psf) Lot No : Geran 35127, Lot 289 Land Tenure : Freehold Land Category : Residential development land (Bursamalaysia, 5-Sept-08)

5. Mah Sing Properties Sdn Bhd
 Hijauan Residences, Cheras
- Phase One (122 units of two storey Semi-Detached houses RM583,000 to RM700,000) – Fully taken up (launched in June 2007 with 3-storey linked houses
- Launching Phase Two (30 units of garden bungalows by November, RM1million to RM1.3million per unit) – to be completed in 2010
- Phase Three (78 units of four storey Villas each worth over RM2 million by second quarter of 2009)
(The Star, 6-Sept-08 & The Edge Daily, 9-Sept-08)
 One Residence
- Comprising 20 to 25 exclusive bungalows, BU : 5,000 – 6,000 sq ft - Located adjacent to MSP’s Hijauan Residence (The Edge Daily, 9-Sept-08)

6. TA Enterprise
 Damansara Idaman - Will launch last phase (27 units of freehold bungalow in November
2008, RM4.2million and RM5.5million) - Four designs
- The first three phases of freehold gated and guarded development comprise 109 unit of bungalows
- Phase Three take up rate : 72%

 Idaman Villas (2005) - Comprising 54 units of semi-detached opposite Damansara Idaman
- Take up rate : 65%
- Current selling price is RM1.87million and RM2.9million

 Idaman Residence (2005) - Located around KLCC area
- 34 storey condominium
- 92% sold (balance of 19 units with a selling price of RM1,200 per sq ft)
(The Star, 6-Sept-08)

7. Bolton Berhad – Taman Tasik Prima, Puchong
 Waterfront townvilla - 68 units of duplex townhouses in the gated community of Taman Tasik Prima in Puchong
- Developed on 145 acres of leasehold land fringing a major part of the "lake"
- Five bedroom and 4 bathroom
- 51 units have been sold (75% take-up rate)
(Star-space, 8-Sept-08)

8. Malton Bhd’s projects
 The Grove SS23 - Will launch in October 2008 - 4.8acres freehold land
- Comprises 35 exclusive three storey bungalows and link bungalows
- Price from RM3million to RM3.8million each

 The Pearl@KLCC - 41 storey block of 177 luxurious condominium units
- 3,000 to 20,000 sq ft, including seven duplexes and three penthouses

 Amaya Saujana - 13 storey residential suite block, 318 units
- Price from RM605,000 to RM918,000
(Star-space, 8-Sept-08)

9. Serai Saujana Development Sdn Bhd
 Serai Saujana - Located on 4.25 ha within the Saujana enclave dubbed The View and The Villa, with generous views of the golf course
- Take up rate: 65%
- The development at the last piece of prime residential freehold site started early this year and is due for completion by mid-2010

 The View - Two 15-storey blocks condominium with 163 units
- Price from RM500 per sq ft
- Six design and layout, Built up size : 1,817 – 3,271 sq ft
- Duplex penthouse, BU : 4,526 – 6,108 sq ft

 The Villa - Resort style
- 42 units of three storey homes
- RM850 per sq ft, BU : 5,200 – 6,000 sq ft
- Four Designs – Stand alone, linked, corner, intermediate
(Business Times, 8-Sept-08)

10. The Pearl @ KLCC
 Located at Jalan Stonor, Kuala Lumpur
 Purchased by Kuwait Finance House-led group at RM550 million
 The Pearl@KLCC will be constructed on 0.72ha of freehold land (linked to Malton Bhd)
 41 storey luxurious high-end condominium with 175 units ranging from 3,000 sq ft to two 20,000 sq ft penthouses. Each floor is to house six units with private lift.
 Source says discount offered, sale done below RM1,000 psf
 Expected to be ready by the end of 2010
(New Straits Times, 9-Sept-08)

11. UEM Land plans housing project in Cyberjaya
 Perdana Lake View West - Mixed development on 100 acres land in Cyberjaya
(The Star, 10-Sept-08 & The Edge Daily, 10-Sept-08)

Avare

2009-05-07T00:48:00.000-07:00

Monday March 28, 2005

Magna Prima builds avant garde condo

STORIES BY ANGIE NG
BUILDING an avant garde residential project within the well-sought after address of the Kuala Lumpur City Centre (KLCC) is one of the ways to get noticed, especially if the development has the power to attract attention.

To stand out from the rest, a developer has to be creative and ensure that the project has some unique selling propositions to attract the target buyers.

There are at least 10 such projects at various stages of development in the KLCC vicinity and more launches are expected in the months to come.

Magna Prima Bhd has joined the bandwagon to undertake such a project in its efforts to carve a slice of the lucrative KLCC property market.

The May launch of its maiden upmarket condominium development, The Avare Kuala Lumpur in the heart of the growing residential enclave, is set to create a signature statement for the developer which is listed on the second board of Bursa Malaysia.

The project is a joint venture with Telekom Malaysia Bhd's wholly-owned subsidiary TM Facilities Sdn Bhd, and will be the launching pad for Magna Prima's plan to build its brand in the market.

Built on a 1.06 acre at Lorong Kuda, off Jalan Tun Razak, The Avare will showcase a stylish 41-storey butterfly-shaped building slated for completion in early 2008.

The 78 condominium units aim to offer the ultimate in luxury residences with only two spacious dwellings of between 3,600 and 5,700 sq ft on each floor.

All the units will enjoy frontage views of the Petronas Twin Towers, the KLCC Park and the Royal Selangor Golf Course.

The Avare will be the country's first condominium to introduce glass curtain walls with stainless sunshades and trims, thus allowing a 360-degree view of the Twin Towers and the city centre splendour.

A typical unit of 3,600 sq ft carries a staggering price tag of RM2.79mil, at RM782 per sq ft, while a penthouse unit with built-up of 5,640 sq ft is tagged at a whopping RM5.6mil, at RM995 psf.

Within walking distance of Kuala Lumpur's most expensive condominium, The Binjai in KLCC, which is just 100 metres away, the developer is confident that The Avare represents good value for money compared with the RM1,200 to RM1,300 psf that The Binjai buyers have to fork out.

Targeted at the elite society and “high flyers” who have a penchant for fine living and are well-exposed through frequent travelling, The Avare has been cleverly designed “to look and feel expensive”.

The attraction of having the convenience of city living literally outside one’s door makes it an added advantage for those who like to be among the community of who's who in society.

Credit must be given to the creativity and special effects introduced by the concept design and landscape team.

According to concept architect David John Clarke, the building design has been given a “special touch” to create a complete environment of luxury, yet with a contemporary effect.

Looking from top down, the building takes the form of a butterfly that has taken to flight.

“The natural touch will blend well with the lush landscaping that's soothing for city living. It was important to me to create a fluid or naturally inspired form that I knew would be graceful and stylish, after all, we want to appeal to the public and buyers,” Clarke, who is the director of Metropolitan Architecture & Planning Hong Kong, explained.

For someone who thrives in providing outstanding architectural solutions to create master abbot pieces, the challenge lies in pushing the boundary where innovation has to be balanced with practicality and cost.

“With the KLCC as the backdrop, we have to keep our standards high. In the design concept, we sought to design a distinctive landmark addition to central KL – one that will be respectful of the Twin Towers – not replicating it but taking inspiration from it.

Happy that his architectural know-how would be translated into a landmark project in the city, Clarke said: “The Avare Kuala Lumpur is going to be a distinctive contribution to the city – one I hope we can all be proud of.”

Avare

2009-05-07T00:44:00.001-07:00

Property Talk
By S.C. CHEAH

WHO would buy a condominium priced from RM3.9mil to RM11.9mil?

Well, there are wealthy folks who like The Avare Kuala Lumpur so much that they have bought one of the super luxurious condominiums within the prestigious Kuala Lumpur City Centre (KLCC) development.

A view of the KLCC park from the 54th floor of The Avare sales office

The original brochure put the prices at RM3.1mil to RM8mil and a press handout dated May 14 said they were from RM3.8mil to RM9.9mil.

When I interviewed Magna Prima Bhd chief executive officer Lim Ching Choy at The Avare's sales office on the 54th floor of Tower Two, Petronas Twin Towers, last week, I was told that the prices had gone up!

“This is the second round of price increase since I joined the group last November,” said Lim as he pointed to The Avare, under construction on a one-acre freehold site near the junction of Jalan Tun Razak and Lorong Kuda behind the Singapore High Commission.

What a great view!

I could see the huge KLCC Park and the imposing KLCC skyline. The idea of having the sales office so high up is to enable prospective buyers to enjoy a panoramic view of The Avare site and the KLCC, albeit from the opposite side of the park.

Embassy Court, a subsidiary of Magna Prima Bhd, is the developer of this six-star 78-unit condominium with a gross development value of RM309mil. It is designed by Hong Kong-based award-winning architects Robert N Kessler and David J Clarke.

With two units per floor forming a “butterfly” shape (if you buy the two units on the same floor, you get to enjoy a 360-degree view of the city skyline). It comes with a residential title. To date 80% of the 78 “super big” units (with typical units of 3,800 sq ft) have been sold since its first launch at the end of 2005. Half were sold to locals and the rest to foreigners who are mostly owner-occupiers, investors and corporate buyers.

The 7,696 sq ft super penthouse occupying the entire level 38 (or the size of two units of about 3,800 sq ft each) is currently priced at RM11.9mil! There is a smaller penthouse on level 16 and two duplex penthouses on the top two floors that have been sold. The duplexes (5,600 sq ft each) have their own garden and swimming pool.

It's not just The Avare. Several upmarket condominiums in the KLCC area have also seen price increases of late. The Troika (also a glass-clad super condo) is said to be priced around RM1,500 per sq ft (psf), while the new One KL is said to have hit RM1,600 psf.

Although construction is up to the first few levels only, Lim assured me that the entire 41 floors would be completed within 10 months using the fast-track Miven formwork system.

The typical unit has four bedrooms with en-suite bathrooms, maid's quarters connected to a discreet service entrance, social kitchen and a wet kitchen for Asian cooking.

It also features Low-E glass curtain with an 180-degree view of the city skyline, imported designer bath fittings and finishing, fully-equipped social kitchen, central chilled water air-conditioning, state-of-the-art security systems, broadband access, and three covered car park bays to a unit. Facilities like swimming pool are on the ground floor. Four lifts serve the two units on each floor.

The pricing may seem steep (monthly service charge is around RM2,000), but it is only a fraction the price of a similar super condo in Singapore.

“Our pricing is still very low. Malaysia still lags behind many countries in terms of property prices. For example, condominium prices in Hong Kong were about HK$15,000 psf in 2000. The same unit has now doubled in price to about HK$30,000 psf,” said Lim.

He said condominium prices in Singapore had also risen from S$1,000 to S$1,500 psf two years ago to S$2,500 psf to S$3,000 psf now. He said super luxury condos of about 3,500 sq ft size such as the Orchard Turn had touched S$4,000 (RM9,200) psf.

Lim is unperturbed by the so-called “glut” of condominiums in the KLCC vicinity, as he feels The Avare is in a class of its own and there are not many “super condos” with 3,800 sq ft size.

He is confident that The Avare's unit could fetch a 7% rental return and possibly between 8% and 9% for a semi-furnished unit, compared with only 2% to 3% for some high-end condominiums in Singapore.

According to Lim, purchasers these days are very sophisticated and well-informed investors who have property investments in Hong Kong, Singapore and other parts of the world. “They expect certain standards. They have done a thorough research and they can see the potential in investing in The Avare,” he added.

I feel one of The Avare's selling points is that it is so near the Twin Towers that this “glass skyscraper” has a superb view of the entire KLCC which, unlike some condominiums, are either on the fringe or outside the KLCC proper. Some of them are either blocked by tall buildings or are on the more congested side of KLCC.

What's my take? People living in glass homes should be very careful not to throw objects even if there is a double-layered glass curtain costing RM300,000 per unit! Give me bricks and mortar anytime.

Avare

2009-05-07T00:06:00.000-07:00

Thursday, September 6, 2007

KL City Centre - The Avare

The Avare is in some ways the most stylish and streamlined construction of all 10, with its design inspired by a butterfly on the wing. The architect is David John Clarke. Like Marc Service Residence the site (just over an acre) allows an attractive planting of trees around
it.

Occupiers of the Avare will enjoy panoramic views of the Petronas Towers and the Royal Selangor Golf Club and the KLCC Park is also close by.

There are two large apartments to each level, each with four bedrooms, all or which will enjoy en suite bathrooms. Looking at the lay-out the only defect would seem to be rather a lot of corridor with no natural light. The website gives the impression that all the units are standard but there seems to be substantial variation in price from 3.8m ringgits to 10m (New Straits Times 12th April 2007). Does this mean that those purchasing on levels 16, 40 and 41 buy an entire floor?
Now only 5 units left and the price are RM4M and above. Same size of 3800sf each with 3 car parks provided.

USP – Unique Selling Proposition
-Strategically located in a sought after residential address.
-View – 360° panoramic view of the iconic Petronas Twin Towers and the Royal Selangor Golf Club.
-Exclusivity & privacy - Only 2 units per floor.
-High - 41 storey, 78 units.
-Modern and contemporary feel to façade and interior. - Low E glass façade and high ceiling with frameless glass to maximize the view - Immaculate finishes throughout the building.

Facilities
-Centralized chilled water air- conditioning system
-Residents lounge, deli cum convenience store, swimming pool, Jacuzzi, gym, sauna, concierge services, business centre etc.
-Car park – Each unit comes with 3 car parks.
-State of the art security systems.
-Private lift.

Design Team
World-class architecture & design
Architects:
• Robert N. Kessler FHKIA, AIA, FRAIA (RIGHT)
• David J. Clarke HKIA, RAIA, RIBA, AIA (LEFT)

The AVARÈ features the work of Hong Kong-based award
winning architects Robert N. Kessler and David J. Clarke who have drawn inspirations gained from working in Hong Kong, New York, Beijing, Shanghai, Shenzhen and Manila.

Some of the notable prestigous projects they have worked on include the HKIA Silver Medal
winning Dragonair Headquarters, 1063 King’s Road (HK Land), Tsing Yi Railway Station and
Development (MTRC), Master development plan for Taikoo Shing (Swire Properties) and
Enterprise Center Manila (Kerry Properties).

Cendana

2009-04-28T06:25:00.000-07:00

Cendana is yet another innovative concept by Tan & Tan Developments that brings a new exciting lifestyle to luxury living - a freehold high-end residential condominium with its own facilities complemented by the services offered by a 5-star hotel.

Life Is For Living

A sky bridge links Cendana to Renaissance Kuala Lumpur Hotel enabling residents easy access to every imaginable pampering of a hotel. With this arrangement, you can have the option to enjoy cleaning services, housekeeping, laundry, concierge as well as food and beverage catering services.

Cendana Gallery

2009-04-28T06:22:00.001-07:00

Hampshire Residences Gallery

2009-04-28T01:56:00.000-07:00

Hampshire Residences

2009-04-28T01:50:00.000-07:00

Hampshire Residences comprises 2 majestic 33-storey towers sitting on 2.6 acres of land on Persiaran Hampshire, off Jalan Ampang. The site is a 10min walk (450m) to the KLCC Suria Shopping Centre and the Petronas Twin Towers.
There are 388 units of luxury condominiums with floor areas ranging from 753sqft to 2,981sqft. The lower floors (3-20) have 7 units per floor while the higher floors (25-33) have 5 units per floor. Many units have private lift lobbies and enclosed lanai with breath-taking views of the city
The design is modern tropical and some unique features include flexible floor layout, annexed suites, Axor Citterio range from Hangsgrobe for masterbath sanitary fitting. All units are provided with air conditioning to most bedrooms, living and dining. Wardrobes to all rooms are provided only during a limited promotional period.The larger units have private lobbies and each units is served by 2 lifts.

Facilities provided:

Swimming pool
CCTV at strategic locations
24 hour security with card access
Poolside BBQ area
Children's pool
Gymnasium
Multi-purpose hall cum function room
Cafeteria area
Broadband ready
Concierge service

Sources from : www.zelan.com

Hampshire Residence

2009-04-28T01:42:00.000-07:00

The Hampshire Residences has achieved almost full take-up rate to date. Since its official laun

ch late 2006, it has attracted a large number of buyers from foreign countries particularly from the European countries. The overwhelming response is attributable to its prime location and the attractive combination of various elegant designs of the units catering to the lifestyle, taste and needs of each individual investor. Being strategically situated within a stone throw away from the KLCC and Petronas Twin Towers development, Hampshire Residences capital value is expected to register significant appreciation upon its completion. The construction has already reached up to 50% stage to date and the full completion is expected at the end of 2008.

The Hampshire Residences has achieved almost full take-up rate to date. Since its official launch late 2006, it has attracted a large number of buyers from foreign countries particularly from the European countries. The overwhelming response is attributable to its prime location and the attractive combination of various elegant designs of the units catering to the lifestyle, taste and needs of each individual investor.

Being strategically situated within a stone throw away from the
KLCC and Petronas Twin Towers

development, Hampshire Residences capital value is expected to register significant appreciation upon its completion. The construction has already reached up to 50% stage to date and the full completion is expected at the end of 2008.

Spearheading the Group's manufacturing operation is European Profiles (M) Sdn Bhd (EPM), an industry recognized specialist in high-end roofing and wall cladding systems since 1993. Proving its mettle, EPM concluded the year with a turnover of RM51 million with the completion of several landmark projects in the country. The year also saw its subsidiary European Profiles Marketing Sdn Bhd changing its name to European Profiles Contracting Sdn Bhd (EPC). EPC will provide top quality products as well as serve as a specialist contractor in the competitive roofing and cladding segment of the construction industry.

Together, both EPM and EPC serve as one stop shop - delivering a complete suite of market oriented, high quality offerings catering to the entire spectrum of roofing and wall cladding. Testament to this ability is the many projects that EPM and EPC have rolled out successfully as well as the repeat business generated from customers.

Editorial News
The Edge Daily 5th September 2006
Resort-Living Focus: High-rise luxury resort lifestyle at Hampshire Residences
Zelan Corp Sdn Bhd is pulling out all the stops to ensure that its maiden upmarket development, Hampshire Residences on Pesiaran Hampshire in Kuala Lumpur, will not only be a sell-out but will also set the stage for the group's future high-end projects. Zelan Corp chief operating officer Cheah Siew Mun says considerable time has been spent on product development, from design to space planning. Indeed it seems no stone has been left unturned where product development is concerned; the developer is also collaborating with CapitaLand Financial Ltd (Asia's largest public-listed company with property development projects across the region) to tap into the latter's expertise in design, marketing and property management. The collaboration, however, does not involve CapitaLand having an equity stake in the development. Besides this partnership the developer is also tapping into Zelan Construction Sdn Bhd's construction and project management expertise — covering projects that include transmission lines, sub-stations, airports, hospitals, highways and bridges. That Zelan Construction is the contractor for Hampshire Residences serves as an added boost of confidence for the project, says Tronoh Consolidated Malaysia Bhd chief financial officer Ang Seng Oo. (Zelan Corp and Zelan Construction are subsidiaries of Tronoh Consolidated Bhd.) While Hampshire Residences may be Zelan Corp's maiden high-end project, the developer is no new kid on the block. Some of the projects it has developed include Wisma Zelan in Bandar Tun Razak, the Bandar Baru Bangi township in Bangi and Riviera Courtyard Homes in Perling, Johor. Hampshire Residences comprises twin 33-storey towers with a total of 388 units of serviced residences (Tower A and B boasts 202 and 186 units, respectively). Built-ups range from 753 sq ft (1-bedroom) to 2,959 sq ft (4-bedroom) and the selling price ranges from RM525,000 to RM2.054 million. The maintenance charge is estimated at 35 sen psf. To date, 50% of Tower A has been sold while Tower B has recorded a 20% take-up, an encouraging indication of the market's response given that the official launch is only slated for this month. Ang says the units at Hampshire Residences were unveiled to business associates and partners at the end of last year. "We were in no rush to officially launch the project as we wanted to spend time fine-tuning the design," he says. Acknowledging that buyers of high-end properties are more discerning, the developer has spent some RM2 million to build and furnish three show units at the sales gallery located at the project site. What's more, by June next year the developer plans to relocate the show units in situ (once the sub-structure is completed and construction progresses beyond the fifth floor) as this will allow prospective buyers to get a feel of the development. Currently, construction is already underway, with the piling works completed last month. The development is scheduled for completion in the fourth quarter of 2008.

Urban oasis The RM403-million development sits on a 2.55-acre freehold parcel amidst what Cheah describes as the city centre's

"last green lung".

But don't let the surrounding greenery and tranquil setting fool you; Hampshire Residences is just a stone's throw from the Petronas Twin Towers and Kuala Lumpur City Centre and is sandwiched between two LRT stations (KLCC and Ampang Park). That the developer has chosen the KLCC locale for its maiden upmarket project speaks volumes of the address' appeal. "Over the last few years, the KL city centre area has experienced growth in luxury residences. We saw the potential and that is why we wanted to come here," says Cheah. The pricing of the units is another plus, says Cheah. At an average RM630 psf, he reckons that Hampshire Residences is competitively priced compared with other developments in the KLCC area and more so compared with city centre developments in neighbouring countries. The developer expects the units to enjoy healthy capital appreciation and command a rental yield of 8% gross (based on the rents commanded by neighbouring properties), making Hampshire Residences an ideal choice for investors. Hampshire Residences has attracted an equal number of investors and owner-occupiers. Apart from local buyers, the buyer profile includes purchasers from the Middle East, India and Singapore. Elaborating on the project's selling points, Cheah says the design is a plus. "For instance, some of the units boast annexed suites with separate entrances that can be used by the landlord [leaving the main unit tenanted] or used as a guest suite," he adds. Equally important are the finishes. All the units come with marble and timber flooring. Additionally, the developer is also providing air-conditioning units in all the bedrooms (except the maid's room), living and dining areas. The development will also boast a health club, swimming pool, children's pool and wading pool, gym, multipurpose hall and children's playground.
'Perceived oversupply not a concern' Competition is a key challenge for developers active in a "hotspot" like the KLCC address; and this is an issue Zelan Corp is well aware of, which is why the units at Hampshire Residences are more competitively priced, says Cheah. Given the number of ongoing and planned projects in the KLCC area and its vicinity, there is also a concern about oversupply. Zelan Corp, however, is not perturbed by this — pointing out that the perceived oversupply works well to prevent new players from entering the market.

"Still, most developers here are strong, well-established players
so I don't think there will be a case of developers dropping prices to boost
sales,"

says Ang. He adds that sales will also be boosted as construction progresses. "If the market also includes foreigners and overseas buyers then the supply can be absorbed," he says, disclosing that there have been en bloc sales at Hampshire Residences to Middle Eastern institutional investors. Looking ahead the developer hopes to undertake more niche developments via joint ventures with respective landowners. While its present focus is on Hampshire Residences, Ang says Zelan Corp will be looking at opportunities in Malaysia as well as India, Thailand and the Middle East.

Sources from :http://www.hampshireresidences.com/

Sri Kia Peng

2009-04-28T01:34:00.000-07:00

The families who have chosen Sri Kia Peng Condominium as their home will most likely have had their own previous experiences living in different settings. Some may have spent their childhood in the ' kampung', others in urban housing estates and still others in far and distant foreign shores. While there is no denying that there are certainly differences between living in a residential home in an sub-urban housing estate and a condominium. Sri Kia Peng Condominium has been able to offer those who now call it home a wholesome and enriching living experience by bringing together residents of differing backgrounds and cultures by blending their combined life experiences to mutually enrich each other for the common good and enjoyment of all who reside here.

Located in the heart of the city within the Garden City of Lights. Sri Kia Peng Condominium retains the quiet and wholesome ambience necessary for the enjoyment of family life at home in the city. Its quiet charm and safe secure environment is ideal for the upbringing of young children and thus is of great appeal to suitable families or the single homeowner who simply wants his/her castle to unwind after a stressful day at work.

With such a lovely atmosphere and wonderful facilities, it is therefore natural for the Sri Kia Peng Condominium residents to fall in love with their new home. With love comes passion and a great desire to know more about this place they have come to call home.

Residents can be proud to showcase their life style to relatives and friends. It is our sincere hope that this homepage with the outlines of the Sri Kia Peng Condominium history, technical details, original offerings of various design layouts along with the stately portraits from different parts of this wonderful and beautiful home in the city will inform, stimulate and further stoke the flame of passion of the residents in their quest to become more intimate with the place they call home at Sri Kia Peng.

Background & History
The Sri Kia Peng Condominium project originally started out as the "Bunga Emas Apartment" during the early nineties. The developer METZLER Sdn Bhd, full owner of the property, thus engaged W.T.W. Consultants Sdn Bhd as the project manager for the development project. Piling work began in 1992, but in 1993, Metzler invited ECON Resources Sdn Bhd to take up 70% of the equity and renamed the project "Sri Kia Peng Condominium".The project was then revised with a new design. In July 1993, the finished project obtained a Temporary Certification of Fitness (TCF), a year later it was issued a full Certificate of Fitness (CF). Econ Resources also appointed a new Property Management Consultation firm in April, 1996, Jones Lang Wootton Malaysia for building management.

In 1999, Yap Burgess Rawson Sdn. Bhd. has taken over the property management.

Source from : http://kiapeng.mirnet.com.my

Sri Kia Peng Gallery

2009-04-28T01:24:00.001-07:00

View Larger Map

Suria Stonor Gallery

2009-04-28T00:55:00.000-07:00

Suria Stonor RM 850 per sf

2009-04-28T00:47:00.000-07:00

Suria Stonor is an exclusive condominium development that combines the space and ambience of a bungalow with all the conveniences of modern living.

Located in an oasis of serenity in the heart of the city within the Stonor Enclave, Suria Stonor offers some of the most generous living spaces within the vicinity of the Kuala Lumpur City Centre. Each of its 138 freehold residences, comprising triplex penthouses, duplexes and condominiums, offers a built-up that ranges from 3,000 sq. ft to over 8,000 sq. ft.

As we luxuriate in the generous, airy rooms, our experience is enhanced by the unique

“Garden in the Sky”

concept that surrounds us with the beauty of nature
From the stunning 35-metre ( 100 ft. ) cantilevered swimming pool to the lush tropical landscaping, the design of the public areas and facilities of Suria Stonor add a resort-style ambience to this urban sanctuary.
Nowhere in the city is this more evident than the city centre, made world famous by the soaring Petronas Twin Towers. Here the old and new, east and west blend harmoniously, even joyously.
Kuala Lumpur is a modern city with a multicultural heart. While the city and its denizens have embraced the global worldview of the 21st century, it remains true to its colourful melting pot origins.
Today, the Stonor Enclave remains one of the most prestigious addresses in Kuala Lumpur with a neighbourhood that comprises stately royal houses, embassies and official residences that still evoke the romance of bygone times. Here is where quiet streets are shaded by ancient trees. Where airy bungalows once offered refuge from an uncertain world and even more uncertain climate. Where the air is rich with the grace and elegance of a bygone era.

Proposed common features and facilities include:

Extensive soft & hard landscape gardens.
100-ft semi-cantilevered main pool.
Lounge pool.
Children’s pool.
Sun deck.
Sauna and steam room.
Full-glass gymnasium overlooking main pool.
Multi-purpose hall.
Convenience store.
Children’s playground.
Barbecue facilities.
Guest apartment.
In addition, for the convenience of residents we have included:
Private lift lobby to each residence.
Waiting Lounge in each wing.
Separate guest lift.
Minimum three parking bays for each residence.
Additional storage at car park area (Optional).
24-hour security.
Concierge service.

Source from: www.glomac.com.my

Buyer's Guide

2009-04-25T08:10:00.000-07:00

Buying & Selling procedures

Step	Action
1	As the buyer, you have to find the property. After you have made your decision, you are required to fill in an application form prepared by the broker and pay the booking fee (min 2% or more). A receipt will be given to you after you pay the booking fee. If you, as the buyer go back on your word, the seller has the right to confiscate the booking fee. Otherwise, the seller has to double pay the booking fee to you if he or she goes back on his or her word.

2	You have two choices: 1: You provide the financial documents to the broker. They will assess your credit, income and assets to quickly determine what loans you qualify for. 2: You provide any relevant details and financial documents to the broker. The buyer has to prepare his or her identity card and deposit. The broker will hand over seller's detail, buyer's detail and title to the lawyer for preparing the Sell & Purchase Agreement. The deposit will be handed to the seller only after both parties (seller and buyer) have signed the Sell & Purchase Agreement.

3	All the relevant financial documents will attach to the application form and submit to the bank for approval.

4	After 7 days, as the bank reply the approval, loan will be processed and an offer letter will be prepared. The buyer needs to sign the offer letter.

5	Before signing the Sell & Purchase Agreement, both parties can decide the date of settling the rest of the deposit. Normally, the buyer is given three months for settling the rest of the deposit. The buyer can request the seller to extend for one month. However, within this one month, the buyer has to pay the interest that is calculated per day. The amount of the deposit depends on the amount of the loan. For example, if you loan 70%, you are required to settle 30% deposit within three months.

6	The buyer will hand over the deposit to the lawyer for settling the ransom from the bank or financial company and property tax in order to redeem the property. Then the process of transfer can be carried on.

7	As the property is being redeem and the seller has settled the property tax, the lawyer will submit the transfer form to the Land Service for registration. If the transfer form is approved, the lawyer will hand over the rest of the deposit to the seller. At the same time, the seller has to pass the right of the property to the buyer as final realize. Article source: iproperty.com

House of Badawi crumbling, housing market vulnerable too

2009-04-21T01:31:00.000-07:00

Creeping political uncertainty in Malaysia is hurting the economy, the stock market and the housing market as well.

Prime Minister Abdullah Ahmad Badawi faces allegations of cronyism, ineptness and corruption. His fiercest critic is no less than Mahathir Mohammad, his mentor, anointer and predecessor. The opposition, led by former deputy prime minister Anwar Ibrahim, claim they have the numbers to topple Badawi.

Adding to the already volatile situation is historically high fuel and food prices. Although Malaysia is an oil exporter, pump prices were raised by 40% in June 2008, agitating the people.

Weak consumer and business confidence combined with high inflation have led to a slack in demand for housing. Although property prices are still inching up, there is a substantial amount of oversupply of mid-price to luxury condominiums, especially in Kuala Lumpur, the capital.

Several property developers such as Glomac and Selangor Dredging are reviewing their property launches. They have cited rising construction costs amid slowing demand for residential properties as the reasons for the review.

As the end to the political impasse is nowhere in sight, the housing market is likely to languish. No immediate nominal price falls are expected but inflation-adjusted figures will show price falls.

House price changes

In 2007, the house price index rose 4.8% (2.6% in real terms), according to Bank Negara Malaysia statistics - an improvement on the 2.1% price increase in 2006 and 2.3% rise in 2005. When adjusted for inflation, house prices fell by 1.4% in 2006 and by 0.7% in 2005.

In Kuala Lumpur, house prices increased by 7.9% (5.7% in real terms) in 2007, following price increases of 5.3% (1.7%) in 2006, 6.5% (3.35%) in 2005 and 6.5% (5%) in 2004. All other states registered stronger price increases in 2007 than in the previous two years.

The relatively strong performance of residential prices in 2007 was due partly to strong economic growth, at 6.3% in 2007 and 5.9% in 2006. Low interest rates have also been pushing Malaysian households to look at putting their money elsewhere than in the bank. Finally, the Employees Provident Fund (EPF) now allows monthly mortgage withdrawals from Account II (a change which could potentially free inject RM9 billion cash annually into the housing market).

Despite the recent price increases, house price indices in Malaysia are still below their pre-Asian Crisis level. House prices rose rapidly in the early 1990s with two particularly dramatic upward surges – in 1991, when 25.5% (20.3% in real terms) price rises were achieved, and in 1995 which saw 18.4% price growth (14.7% in real terms). After the Asian Crisis hit Malaysia, prices fell 39% between 1997 and 1999 for luxurious detached houses in Kuala Lumpur.

Over-supply concerns

The growing supply of high-end condominiums is something of a concern, as rental take-up rates have not matched supply. Some analysts, such as the CLSA, suggest that some discrimination is likely to take place between iconic projects in prime locations, with some pressure on the prices of other projects.

The subdued mass market is generally due to the constant flow of supply of mass housing for poor households, as a result of the government’s attempt to make housing more affordable. From 2004 to 2008, more than 100,000 low cost housing units were built by various government agencies nationwide. According to a Global Property Guide study on housing affordability, Malaysia has one of the lowest house-price-to-income ratios in Asia.

More Global Property Guide pages:

Malaysia’s rental market is small, only 6% of the housing stock is in the private rental sector. About 85% of the total stock is owner-occupied, while government-provided housing accounts for 7% of the housing stock.

The active luxury rental market caters mainly to expatriates, centred on Kuala Lumpur. Rental yields in Kuala Lumpur are relatively healthy, ranging from 5% to 8% with smaller units earning higher yields.

Ownership limits eased, CGT abolished

Foreign ownership rules were relaxed in Dec 21, 2006. Foreigners no longer need to ask permission from the government when buying properties worth MYR250,000 (approx US$74,000) or above. Further, the limit on the number of properties foreigners can buy has been removed. There are also no more restrictions on the use of property. Before, foreigners could only buy at most two units, and they could not use them investment purposes.

The relaxation of the foreign ownership limits is in line with “Malaysia: My Second Home Programme.” The programme allows people who meet certain criteria to stay in the country as long as possible on a social visit pass with a multiple entry visa.

In addition, the government abolished capital gains tax in April 2007 to boost the property sector. Previously, non-resident individuals were charged Real Property Gains Tax (RPGT) at a flat rate of 30% on gains made on the disposal of real property within the first five years, and 5% thereafter.

Sources from: Click here!

How to create a blog?

2009-04-08T06:06:00.000-07:00

Why you should blog?

Today, allot of my colleagues read my blog. Most of them are so interested into blogging. Then, I think why should we blog. Hey! Come on. We are in real estate business. So we should spend more time marketing and prospecting right?

But here are the reason why you should blog about real estate:-

A real estate blog is a business blog

You should be blogging for the growth of your business
If you do your research, plan for success and execute properly, the leads will come
Just setting up a blog and failing to plan for your success will be nothing more than a waste of your time
Educate your audience
Network within the industry

For more: realestatetomato.typepad.com/

Blogging has been famous for quite number of years. Lately I received a lot of enquiries on how to create your own blog. Most of them are my colleagues/ negotiators. So, I decided to post this on my blog. Should you have any trouble or question. Please drop me an email on chowmaypo@hotmail.com. Or if you prefer you can call me att 012 3900 488. Also you can drop me a message on the Chat Box you can find on your right panel box. Happy blogging!

Why Invest In Malaysia?

2009-03-28T11:14:00.000-07:00

MALAYSIA shows solid potential as a promising emerging property market for foreign investors. Below is an overview of some of the factors that are contributing to the growth of Malaysia as a successful investment arena.

International real estate investors looking to target a well priced, strong economy for sustainable growth and yields over the medium to long term are considering Malaysia as a highly lucrative option.

The government's blueprint for economic growth and diversification for a four year period between 2006 and 2010, known as the "Ninth Plan", aims at vast improvements to Malaysia's infrastructure as well economic developments. This progress is predicted to directly and positively effect the real estate market in Malaysia, bringing with it strong growth potential.

As a resort destination Malaysia's affordability is a great attraction, bringing growing numbers of visitors annually to boost the economy. Tourist arrivals in Malaysia rose to 16.5 million in 2005, a rise of more than 160% in five years. This is an astonishing achievement for tourism in Malaysia and is good news to many property investors in the coastal resort hotspots, such as Port Dickson.

While the country's economy keeps growing, inflation remains low, overseas export opportunities continue to expand and more businesses are establishing regional centers in Malaysia. Malaysia is the Asian leader in terms of attracting interest from foreign investors, most of who are from the Middle East. They see it as a viable and attractive emerging market with high medium term growth potential. The amount of foreign investment into the country continues to increase and international investment into the property sector in Malaysia is firmly predicted to grow at unprecedented levels.

Another particularly positive factor in favour of real estate in Malaysia today is the value of the local currency, the ringgit (MYR). Valued below the euro, dollar and British pound, foreign investors buying into Malaysia are reaping the rewards of buying so much more for their money. Meanwhile, property per square meter in all Malaysian towns, cities and resorts remains at a fraction of the cost of similar properties in the likes of London or New York.

Demand for real estate is high from an affluent expatriate market as well as an increasing Japanese, Indian and Singaporean market leaving many investment options open to shrewd investors in Malaysia.

Capital Growth Predictions

Current evidence indicates that Malaysia shows great promise as an emerging property market. Depending upon location, residential property both in the city and within coastal resorts has seen price increases of between 15 and 30% over the past five years. With economic indications showing Malaysia can only continue to grow at a steady pace, many investors are purchasing now in order to achieve the highest returns on their investment.

Rental Yield Predictions

Rental yields in Kuala Lumpur stand at a respectable 7.4 to 8.7%, while corresponding figures remain just a little lower within the tourist resorts. Holiday rentals are big business in Malaysia, particularly in areas in and around Port Dickson, as is the holiday home market which continues to attract increasing numbers of visitors annually to this world-class holiday destination.

Malaysian Economy

Economically, the outlook in Malaysia is very positive. According to a recent study from ING Real Estate, Malaysia will be the Asian country with the biggest increase in work force from 2003 to 2013, with worker numbers increasing to 13 million, representing a 27.9% increase over the 10 year period.

GDP expansion in the third quarter of 2006 was recorded at 5.8%. Growth has been driven by a spurt of corporate investments, sustained consumption, improved external trade facilities and foreign investor friendly fiscal and monetary policies, that have boosted Malaysia's economy to new levels.

Reasons Why Malaysia is an Intelligent Property Investment Location

New tax incentives and the relaxation of laws governing real estate purchase by foreigners.
The government's "Ninth Plan" will have a positive impact on the Malaysian real estate market through further improvements to the infrastructure and economic policies.
Stable economy and government.
English is widely spoken by a multi-lingual, experienced and qualified workforce.
Local currency valued at far below the euro, dollar and pound sterling, allowing foreign investors to buy a lot more for their money in Malaysia.
Property prices per square metre in all major Malaysian towns and cities are at a fraction of the cost of similar investments in many other worldwide destinations.
Great demand for quality new real estate from an affluent expatriate market.
Malaysia ranks among the top three countries among the 53 Commonwealth countries for the greatest number of tourist arrivals, according to the World Tourism Organisation.
Rise in tourist arrivals by an astonishing 160% between 2000 and 2005 – a figure that continues to grow.
Location near the Equator, hence a year-round tropical climate, ideal for tourism.
No natural disasters such as earthquakes, volcanoes or tornados.
Extensive, beautiful, white sandy beaches at luxury resort areas such as Port Dickson, an escape from hectic life just south of the bustling capital of Kuala Lumpur.
Low buying costs currently at between 3.4 to 6.75% of the property value.

Malaysia - Buy-to-let Investment

Malaysia boasts a healthy, growing economy, allowing for excellent buy-to-let opportunities. Below is a guide to the factors to be taken into account when considering investing in your property to let in Malaysia.

The term "Buy-to-Let" simply means the purchase and ownership of a property through normal purchase procedures and when completed, the owner seeks to rent this property out for a regular income, often exceeding annual mortgage repayments.

The "Buy-to-Let" Market in Malaysia

A huge increase in tourist numbers to Malaysia has brought about the need for more holiday accommodation in the luxury tourist resorts that have sprung up in many coastal regions. In addition, city investment in Kuala Lumpur has seen much growth over recent years, while large international businesses, particularly from Japan, Korea, China, Middle East and Europe, are realizing the financial benefits from establishing their premises here. This has created a surge in the requirement for top class real estate rentals to offer an affluent expatriate market.

Rental yields in Kuala Lumpur stand at a respectable 7.4 to 8.7%, while corresponding figures remain just a little lower in the tourist resorts. Holiday rentals are also big business in Malaysia, particularly in areas in and around Port Dickson, as are commercial premises within the city.

Purchasing a property to let in Malaysia involves careful consideration as to whether or not the property is ideal for your intended market. Careful analysis will need to be done on matters such as local or tourist amenities and accessibility to airports and road infrastructures. Early investment and a carefully planned formula to suit your market will bring you excellent returns on your buy-to-let property in Kuala Lumpur City Centre

Malaysia - Economic Factors

The success of Malaysia's property market today is due in part to a number of economic factors that you will need to be aware of when considering your investment.

Malaysia is one of the fastest growing economies in the region and last year the property market enjoyed capital growth figures of between 15 and 30%.

City investment, particularly in the capital, Kuala Lumpur, is booming due to a wave of direct foreign investment from China, Korea, Japan, Middle East and Europe. A surge in economic activity (predicted increase in worker numbers to 27.9% by 2013 over a 10 year period) has brought with it a high demand for quality commercial and residential real estate lettings serving a growing expatriate community employed in and around the city. Off-plan properties are selling to international property developers and attract some impressive guaranteed rental yields of between six and ten percent.

Government Incentives

The government has introduced a number of tax and legal initiatives aimed at easing the process of foreign property investment into the country and attracting more investors. Contrary to former strict rulings for permission from the Economic Planning Unit, foreign nationals can now buy properties worth more than 250,000 ringgit (USD$ 71,429 dollars) without prior approval. "The new step is aimed at drawing foreign investors to buy residential units in the high-end category and is expected to bring about positive changes to the property and construction sectors," says a statement from the prime minister's office.

Other incentives include tax advantages such as remittances of income from overseas going tax free. Car import duties and some other taxes are waived for foreign residents and capital gains tax is exempted from Real Property Gains Tax as from 1st April 2007.

Low Cost of Living

Real estate in Malaysia is high quality and very low cost compared with many other locations. Due to the high value of the local currency, the ringgit (MYR), property is valued below the Euro, Dollar and British pound and foreign investors buying into Malaysia are finding their money goes a very long way. Meanwhile, property per square metre in all Malaysian towns, cities and resorts is selling at a fraction of the cost of similar properties cities such as or New York or London.

Correspondingly low buying costs at between 3.4 to 6.75% of the property value, including 2.75% agent's commission (for first MYR 500,000) are an added attraction to property investment in Malaysia.

Spending power in general for foreigners is strong and the relatively low cost of living allows for good quality living at a fraction of the cost "back home"

High Rental Demand

The quality and beauty of the property currently on offer in Malaysia is high and therefore it is high in rental demand. A growing tourist industry is boosting rental investments and allowing high yields of around 7.4 to 8.7% in the city and a little less in the popular tourist resorts, such as Port Dickson.

Strong Tourism Growth

Malaysia figures among the top three countries for the greatest number of tourist arrivals among the 53 Commonwealth countries, according to the World Tourism Organisation. In 2005 Malaysia welcomed some 16.5 million tourists, representing an increase of more than 160% between 2000 and 2005 – all good news for today's investors in tourist resorts who seek strong buy-to-let investment potential.

In addition, quality property is high in demand from affluent expatriates. Chinese investors are already very active in the market and this trend is expected to grow.

Off-plan Property - Malaysia

Malaysia offers a wide range of off-plan property for sale at prices that will afford high returns on investment. Below is an overview of the off-plan market in general and how you can make the most of your off-plan purchase in Malaysia.

Off-plan investments in Malaysia offer investors the opportunity to buy at the lowest price and achieve maximum return on investment.

If you keep your property for a long period of time, in the current booming market, excellent rental income can be achieved in popular locations, while you enjoy a beautiful property that is constantly appreciating in value.

Off-Plan Property in Malaysia

Today Malaysia offers many world class off-plan opportunities located in major investment hotspots in the city of Kuala Lumpur and in tourist resorts around Port Dickson. The government in Malaysia has facilitated foreign property purchase and all major new resorts under development are based on a 5 star luxury lifestyle, with a related modern infrastructure to support this.

From an investment point of view it is always advisable to purchase new property as near to the initial off-plan stage as possible. As developments are completed, it may be possible to purchase finished property but this will be priced substantially higher as it is will be generating a return on investment for the original investor. Buying off-plan property in Malaysia at this time allows property investors to purchase property in areas that will attract major rental demand and optimum capital growth. Off-plan purchase allows you to purchase at the lowest possible price, while taking advantage of the best possible finance options available.

How can property be cheaper if bought off-plan – How does it work?

The developer of any project is always exposed to risk. In order to cap this risk as quickly as possible and limit bank loans and other debts, they sell units off-plan at excellent prices as the buyers cannot see a physical property at this stage and rely on the location and artistic impressions, diagrams and computer simulations.

In addition to the excellent price that the investor receives, due to the fact that the property is bought off-plan, he/she also benefits from an excellent finance structure. The investor (this may vary) usually only needs to pay around 20 - 40% of the value of the purchase in the form of a deposit, the rest is payable on completion. This can be financed by a mortgage.

Once you decide to invest in off-plan property in Malaysia, you will need to choose a strategy to adopt in order to achieve your return on investment. Our investment experts will help you choose the most appropriate, creating an investment plan, be it a "Pure Investment" or "Buy-to-Let" strategy.

Maximizing Profit From an Off-Plan Investment in Malaysia

Purchasing early

When the developer is offering units well below market value for the reasons mentioned above. It is also important to buy as soon as possible as, while the market is in its early stages of development, prices are still very competitive but already rising. Investors who invest now will see the greatest profits.

Purchasing the best units

Shrewd investors seek the earliest opportunity to purchase the most sought after properties on any given development. The best units always offer higher capital appreciation in the least amount of time and can demand the greatest rental income. Penthouses are often favorites.

Price increases as development matures

As the development begins to be constructed, the value of the units rises. There is normally a completed show home at this stage and buyers are taking less of a risk as they now do not need to rely entirely on plans.

Price appreciates as more units sell

As units are sold steadily, so demand increases and the price of the remaining units rises. This is due to buyers being able to see current units as mentioned above. Often a phase payment structure is in operation which mirrors the increasing value of the properties. Obviously, to the early investor, this means that should you decide to sell your property it will be worth considerably more at this stage than when you made your initial purchase and paid your 30% deposit.

It is entirely possible to make some excellent investment choices in this arena and we specialize in helping you to pick the correct ones and generate personal wealth through safe and intelligent property investment, basically using the acquisition of off-plan property as our investment vehicle.

Malaysia - Investment Tax Planning

Here you will find basic guidelines as to what to expect when planning your property investment in Malaysia.

Capital Gains Tax

Real Property Gain Tax

Any disposal of chargeable assets by Foreigner or Malaysian Citizen has been exempted from Real Property Gains Tax as from 1st April 2007.

Stamp Duty

Every transfer of property in Malaysia attracts stamp duty. The stamp duty is based on the value of the property and is paid by the purchaser:

Value of Property	Stamp Duty

First RM100,000	1%
Next RM400,000	2%
Above RM500,000	3%

Inheritance Tax

There is no inheritance tax charged in Malaysia.

VAT And Other Taxes

There is no VAT in Malaysia, but a Government Sales Tax (GST) of 5% is charged.

Mortgages - Malaysia

Mortgages are available from international and local banks to foreigners for Malaysian property. Below is an overview of the mortgage situation and the lending climate in Malaysia.

Brokers and property purchasers in Malaysia say Malaysian banks are eager to issue mortgages to overseas citizens. Mortgages are generally issued up front and local terms are often very liberal when compared to other countries, while some people can even secure up to 90% finance.

Although recent conditions have pushed interest rates to 6.75% from about 6% at the start of 2006, Kuala Lumpur has still seen a boom in the kind of high-end condominium development that expatriate buyers and renters demand.

As a foreigner, you are normally allowed to borrow up to 70% and in most cases, Malaysian banks are more than willing to finance your purchase. Loans are granted on the proviso that the property value is RM 250,000 or more. There is no upper limit to the cost of properties that may be purchased by overseas purchasers of property in Malaysia. The current base lending rate is 6.75% per annum (end 2006). Loans are for a maximum period of 45 years or up to age 75, whichever is earlier.

Some off-plan developments offer finance options and installment plans. The charges applicable vary according to developer and repayments are usually indexed.

Why Invest In Malaysia Property?

Malaysia is catching the eye of many discerning property purchasers worldwide. Below is a comprehensive list explaining why Malaysia is such a popular investment arena today.

There are many economic and political reasons why Malaysia offers so much promise as a strong emerging market today. Successful investment in property in Malaysia relies chiefly on the ever increasing tourism figures, as well as commercial and residential options within the capital city of Kuala Lumpur. Below you will find the main reasons why Malaysia affords a great investment climate for foreigner property purchasers today:

One of the fastest growing economies in the region (+7% est.)
British legal system, property laws and environment
Freehold property ownership and security of title
Active government incentives (Malaysia My Second Home Programme) encouraging foreign homebuyers to the country through offering 10 year entry permits
Attractive, well-priced properties with strong rental demand
Low buying costs at between 3.4 to 6.75% of the property value, including 2.75% agent's commission (for first MYR 500,000)
Strong capital growth of between 15 and 30%
Effective Land Registry and transparency in property transactions
Tax advantages: remittances of income from overseas are TAX FREE
Car import duties and other taxes are waived for foreign residents
No capital gains tax
No requirement, as in neighbouring countries, for a company or local "partners" to buy property
Strong demand for resale properties from foreigners moving to the cities

Also a high demand for quality new real estate is high from an affluent expatriate market.
Among the top three countries for the greatest number of tourist arrivals among the 53 Commonwealth countries, according to the World Tourism Organisation.
Tourist arrivals in Malaysia rose by more than 160% between 2000 and 2005 - an astonishing achievement for tourism.
Chinese, Japanese & Korean investors already active in the market and this is expected to grow.
Good, modern communications and infrastructure country-wide
Through its Ninth Plan, the government of Malaysia aims to further improve the infrastructure and general economic development of the country. Analysts believe this will have a positive impact on the Malaysian real estate market.
The value of the local currency, the Ringgit, is far below the Euro, Dollar and Pound Sterling, allowing foreign investors to buy a lot more for their money in Malaysia.
Low cost of living: eg. petrol at 25p per litre, cigarettes 90p per packet
Low cost of regional flights on Air Asia to major S.E. Asian cities
High quality development properties in prime areas are now available
Strategic location - close to Australia, Bali and Singapore
English language widely spoken and all property sale agreements in English
English language newspapers, radio and television available everywhere
Wonderful climate and food. Superb golf and other sports facilities.
Extensive white sandy beaches continue to draw holidaymakers.
Warm, friendly people and peaceful pro-British environment

No letup in KLCC price rise

By S.C. CHEAH

PROPERTY prices in the Kuala Lumpur City Centre (KLCC) area will continue to rise, as more and more foreign investors snap up the country's comparatively cheaper high-end condominiums, said veteran international property consultant Datuk Abdul Rahim Rahman. Abdul Rahim, who is chairman of Savills Rahim & Co, is confident that KLCC prices would increase further as land and building material prices continue to soar, mainly due to the hike in crude oil prices. He said property prices were rising not only in Malaysia but also elsewhere. "The bubble will not burst in the KLCC area as it attracts foreign investors. Investors are getting more and more sophisticated. When they go from city to city to invest in property, they want the best location and KLCC has it all," he told StarBiz, adding that all the developments in the KLCC area (residential and commercial) that had been completed were well sought-after.

Abdul Rahim said there was a time when people were shocked at the high prices of condominiums in and around KLCC but when prices increased rapidly, new benchmark prices were recorded and response from investors, especially from foreigners, remained good. He said this was because Malaysian property prices were cheaper than many countries in the region, including China, Hong Kong, Singapore and even Indonesia. Even areas on the fringe of the KLCC have shown a marked increased in prices. For example, he said, two proposed high-end residential projects in the vicinity of Jalan Madge and Jalan U-Thant in Kuala Lumpur would be priced between RM1, 000 and RM1,300 per sq ft (psf). The one at Jalan Madge, called 9Madge, was soft launched by invitation over the weekend. The low-density freehold development of only 23 units will have two- to five-bedroom units of 1,800 sq ft to 8,200 sq ft (average 3,600 sq ft). It will feature exclusive penthouses with rooftop gardens and tropical themed gardens in a gated and guarded community. It will also have state-of-the-art, four-tier security system and is 1.5km from KLCC and the Petronas Twin Towers.

The other project at Jalan Penggawa (also bearing the exclusive Taman U-Thant address) is slated for launch in August. Interestingly, South Korean companies are involved in the two projects, which goes to show the amount of interest shown by foreign developers in high-end Malaysian properties. Abdul Rahim said secondary transactions in the Jalan Madge and Jalan U-Thant areas had risen to as much as RM1, 500 psf. His advice for investors is to buy at the right location and at the right time. "You will not go wrong if the location of your property is good," he said, adding that there were also insufficient high-end offices in the KLCC area. "Supply (of offices) cannot meet demand. In fact, there is hardly any new Grade A office building in the KLCC area.

I know one but cannot reveal it as yet," he said. (The latest was the en bloc sale of a 50-storey office tower called Menara Felda in the newly launched RM3.5bil Platinum Park in KLCC for RM640.7mil or about RM930 psf.) He said a Grade A office tower in the KLCC could fetch over RM1,000 psf and there was good demand for such buildings not just from foreign companies but also foreign funds. "The rental of Menara Uni.Asia (where his company is) in Jalan Sultan Ismail was about RM2.50 psf five years ago when we moved in, but it has since gone up to RM5 psf and it is fully occupied," he added. Abdul Rahim, executive chairman of Rahim & Co Chartered Surveyors Sdn Bhd which he founded in 1976, has four children - a boy and three girls. Two of his children are working with him. He was president of the International Real Estate Federation (FIABCI) Malaysian Chapter (1982-1986), president of Asia Pacific Real Estate Federation (APREF from 1985 to 1988), and FIABCI deputy world president (1990-1992). Abdul Rahim was also president of the Institution of Surveyors, Malaysia (1986-1987) and Association of Valuers & Property Consultants in Private Practice, Malaysia (1990-1994). He is also active in politics, being the current Umno Pasir Mas division chairman and Kelantan Umno treasurer

Developers zoom in on Taman Desa

2009-03-28T11:07:00.000-07:00

Monday May 5, 2008
Developers zoom in on Taman Desa
PROPERTY TALK
BY S.C. CHEAH

TAMAN Desa, off Jalan Klang Lama, is experiencing a mini property boom as developers zoom into this much-sought-after neighbourhood in Kuala Lumpur.

The completion of the New Pantai Expressway (NPE) a few years ago has greatly eased the traffic flow at Jalan Klang Lama as motorists can bypass most parts of the widened Jalan Klang Lama.

Tang Chee Meng

The NPE links Bangsar and the KL-Seremban Highway to Bandar Sunway, Subang Jaya and beyond.

Taman Desa residents can also access the KLIA-Putrajaya Highway via the Seremban Highway or at Kuchai Lama.

With the new highway linkages, residents of Taman Desa and its adjacent areas, including Seputeh and Taman Abadi, can gain access to any part of the Klang Valley and many amenities are now within their reach.

Over the past few years, several new developments have come up or are being launched in Taman Desa, an established neighbourhood that was developed by Faber Union about 30 years ago.

Faber Union started off with 110 semi-detached houses and 120 bungalow lots in 1976 at Taman Desa. It later built 578 units of two-storey terrace house in 1978.

It then went into building apartments such as the Faber Ria (402 units) in 1985, Faber Heights (370 units) in 1989, Faber Indah (130 units) in 1989, Danau Idaman (659 units) in 1996, Danau Impian (500 units), Danau Permai (512 units), Tiara Faber (320 units) in 2000, and Taratak Muhibbah (1,064 units) in 2000.

It also developed the Casa Desa condominium (410 units) and Danau Villa (64 units of three-storey semi-detached link home) in 2007.

Taman Desa started off as an upmarket housing area with semi-detached houses and bungalow lots many years ago. It has retained its middle-to-upper-class image, thanks to new developments that reflect this upmarket image.

One of the newcomers is the Papillon Desahill condominium by Zeus-TNB Properties Sdn Bhd, an affiliate of Peter's Holdings Sdn Bhd.

The 4.5-acre freehold project comprises 225 units with built-up areas from 1,312 to 2,039 sq ft and duplex units from 2,498 to 3,661 sq ft (from RM365 per sq ft). It is next to the Faber Heights condominium and very near Jalan Klang Lama.

Two other new projects are the Danau Villa three-storey semi-detached link homes, a joint venture between Faber Union and Kuala Lumpur City Hall and the Desa Ria, a 104-unit freehold condo by the UOA Group. It boasts larger units of 2,200 sq ft and was launched in 2006. The units were priced around RM300 per sq ft when it was launched but they are now selling from RM385 to RM445 per sq ft.

Taman Desa's other housing schemes such as Seputeh and Taman Abadi are a mix of landed and high-rise apartments.

There are some 7,000 units of apartment and condominium in Taman Desa alone. These include completed projects like the OBD Garden (260 units), Desa Villa (340 units), Desa Murni (500 units), Bukit Desa (252 units), Desa Ria (104 units), Abadi Villa condo (330 units) and Abadi Indah apartments (754 units).

There are about 5,500 housing units in Taman Desa, Taman Bukit Desa, Taman Danau Desa, Taman Desa Utama, Seputeh and Taman Abadi, with about 30,000 people staying in Taman Desa.

Facilities in Taman Desa include the Desa Water Park, Taman Desa Medical Centre, wet market, office towers at Faber Towers, shops in the Taman desa and Danau Desa commercial centres, two secondary schools and a primary school. A new school is being built near Desa Ria.

Henry Butcher Marketing Sdn Bhd chief operating officer Tang Chee Meng said Taman Desa was a generally safe place to live as residents have their own security patrols. He said a number of tycoons also lived there.

“Taman Desa is one of those under-rated locations in the Klang Valley which is a very convenient place to stay.

“In the past, people were concerned about the notorious traffic congestion along Jalan Klang Lama, but today with the vast improvements in road infrastructure, Taman Desa, with its central and convenient location between KL and PJ, enjoys excellent connectivity and accessibility. It is a good place to call home,” he said.

Tang said Taman Desa had a good record of capital appreciation. He cited the case of a man who bought his first house, a double-storey terrace house, for only RM145,000 in 1989 and sold it in 1991 for RM181,000. Today it is worth RM560,000 toRM630,000. A similar house was priced at only RM70,000 to RM76,000 in 1978.

“The man bought his second house, a double-storey semi-detached house, in 1991 at RM265,000. Today, it is worth more than RM1mil.

“The house was going for only RM98,000 to RM113,000 in 1978 while the bungalows were going for RM140,000 to RM160,000. Today, the bungalows are worth RM1.8mil to RM2.5mil. Prices have never dropped,” he added.

Source: The Star

Burgess Rawson

2009-03-27T05:18:00.000-07:00

About Us

The Firm

Burgess Rawson, Malaysia is affiliated to Burgess Rawson & Associates Pty Ltd of Australia.

We started in 1994 as a professional firm to provide services in property valuation, management, consultancy and real estate agency in Malaysia under licensing by the Board of Valuers, Appraisers And Estate Agents.

The holding companies of Burgess Rawson, Malaysia are made up of :-

1) Burgess Rawson Sdn Bhd (Company No. 288015-V) providing property valuation, management, consultancy and real estate agency services; and

2) Burgess Rawson Management Sdn Bhd (Company No. 361976-W) providing property management services.

Our total paid up capital is RM150,000.00 with an authorised capital of RM500,000.00 and a professional indemnity insurance cover of RM5,000,000.00.

Vision & Mission Statement, Core Values

To be the Premier Property Consultants of Choice in the Industry recognized for our Excellence in Quality and Delivery of Professional Practice.

Our strength is in our core values comprising:

• Professionalism
• Integrity
• Reliability

OurTeam_

Burgess Rawson,

Malaysia is currently helmed by Sr. Wong Kok Soo, Managing Director, Sr. Ooi Guat Eng and Sr. Susie Tiong, Executive Directors, and a professional team of dedicated managers and consultants.

Currently, Burgess Rawson, Malaysia has a staff strength of more than 200 personnel.

Annual Business Conference

2009-03-26T08:29:00.000-07:00

1st day at Burgess Rawson

2009-03-26T07:19:00.000-07:00

1st day at Burgess Rawson

After a couple of months I left real estate business for good. I finally came back to business. Unfortunately, my listing ran dry. I've to search for more listings. Too bad due to my limited resources and database. I can only manage to get a few. Somemore it is not considered as 'Quality Listings'.
After a couple of days looking for listings. I get a surprise phone call from one of my ex-colleague. They are from my current company and now they left. They promised to give me a lot of listings if I agree to join them. So, I thought about it for a few days. And here am I today.

My 1st day at Burgess Rawson.
As we agree. I paid RM 500 as a joining fees. Then I've to go through a 3days training which more or less talking about common things in Reapfield Academy.

From 9.30 in the morning I reached in the office which located at

View Larger Map

The 1st day training was only 6 of us including 2 trainers.
Below is what I've learned from the training:-

Prospect -means everything to you. From your mom's neighbour to your child's teacher can be you prospect. If you dont prospect you won't have activity then you will end up having no listings.
Listing -is when you manage to talk to ever single person you met on the street or in the rest room. Once they say they or their friend wants to sell their property. It is a LISTING!!!
Marketing/Advertising -of course, when there is no advertisement going on. Nobody knows what property is on sale.
Call in enquiry -the training actually ended here and will be continue second day. But it's the same training I've been through so, there you go. You have to filter all the call in enquiries. When a minute save is a minute earn. Screen through your buyer over the phone and make sure they are calling the right number.
Viewing -always dress up for open house or during viewing for a house. First impression counts. Be pro-active. Always care for your buyer. Listen to them and look for buying signal. It's also important to ask them why are they buying. It's essential to use it against them while you are trying to close the deal.
Offer -if the buyer are interested. Mostly they will try to low ball you. So, be prepare to negotiate. This is where the vendor needs you the most. Be professional. If can, bring along a buyer's guide.
Closing -once you have collected the earnest deposit. See the vendor immediately. Don't delay. Convince him to sell. Remind him why he wants to sell at the first place.

That's all for day one. The following day(today). I went to Reapfield Annual Business Conference.

Mini Budget

2009-03-13T00:36:00.000-07:00

Friday March 13, 2009 by The Star Online

The RM60bil mini budget hope

Comment by Nicholas Chen

Tax-related proposals to be lauded but RM100,000 limit is too low

Reducing Financial Burden

To ease financial burden, especially those who have been retrenched, efforts were announced to reduce their financial plight.Financial institutions have agreed to allow retrenched workers to defer repayment of their housing loans for one year.

Also proposed is the interest income of the financial institutions relating to the housing loans for which repayment has been deferred for one year, will not be subject to tax during the moratorium period. Such interest will however be subject to tax when received. This is a departure from the general scheme of Malaysian income tax where income is subject to tax on an accruals basis.

This proposal is to be effective from YA 2009 and there are a number of conditions which must be met.

Other tax-related measures announced were allowing house buyers to obtain tax relief up to RM10,000 per annum for three years in respect of the interest costs incurred on loans used to finance the acquisition of residential homes. This proposal is effective from YA 2009.

The Government could have considered extending the scope of this proposal to assist a broader spectrum of the rakyat. However, it should be remembered that the proposal is also meant to assist developers of residential property.

Summary

Overall, the benefits of the tax-related measures in respect of businesses may not be immediately felt. These proposals recognise the roles of businesses and the private sector in contributing to the nation’s economic well- being. As such, the measures proposed are geared towards reducing the cost of doing business and also encourage spending to spur economic activity. The measures are aimed at reducing the people’s financial plight and increasing the amount of disposable income.

Chen is director of KPMG Tax Services Sdn Bhd

Instant Reaction: The Mini-Budget by The Edge Malaysia

Written by Rachael Lee

Tuesday, 10 March 2009 19:03

Lee Heng Guie, chief economist, CIMB Research: The supplementary budget is fairly broad-based. The deficit will definitely go up but the priority is to avert a deeper downturn. A widened fiscal deficit and a lower rating are secondary concerns. The market hopes to see the government consolidate the deficit when the economy recovers.
Chie K. Ngu, CEO, HVS Advisory: I’m not sure if the package is sufficient to help the economy because at the end of the day, much depends on its implementation. Some figures might look big, but it is not fair to judge the impact of this package on the economy only by these figures. The bond is good as it helps the government raise funds and further develop Malaysia as a global hub for Islamic finance. But, as a whole, I’m not very much excited by it.
Lim Chee Sing, chief economist, RHB Research Institute: The stimulus package appears to be quite comprehensive, one that is able to help businesses. Figures are big, but the main point is still the implementation. Judging from the first stimulus package announced in November last year, the implementation takes a long time. When the implementation is slow, it will still help the economy but the impact will somehow be cushioned.

World Richest Guy

2009-03-13T00:19:00.000-07:00

Friday March 13, 2009 by The Star Online

Ananda, Kuok share top spot on rich list

By K.C. LAW

They rank No. 62 with an estimated worth of US$7bil each

PETALING JAYA:

T. Ananda Krishnan

and

Tan Sri Robert Kuok

are jointly holding the crown as Malaysia’s richest people, with both ranking No. 62 on Forbes’ world billionaires list.

They have an estimated fortune of US$7bil each as at Feb 13.

Four other Malaysians in the billionaires’ club included

Tan Sri Lee Shin Cheng

(No. 234 at US$2.7bil),

Tan Sri Teh Hong Piow

(No. 261 at US$2.5bil),

Tan Sri Quek Leng Chan

(No. 376 at US$1.9bil) and

Tan Sri Yeoh Tiong Lay and family

(No. 397 at US$1.8bil).

Overall, the Malaysian billionaires’ net worth had dropped by US$7.8bil to US$22.9bil from a year ago.

T. Ananda Krishnan (left) and Tan Sri Robert Kuok

Local billionaires on last year’s Forbes list who failed to make it to the 2009 list were

Puan Sri Lee Kim Hua and family

Tan Sri Syed Mokhtar Albukhary

Tan Sri Vincent Tan

and

Tan Sri Tiong Hiew King

Ananda, 70, saw a decrease of only US$200mil in his fortune from last year. His holdings include Maxis Communications Bhd, Astro All Asia Networks, satellite company Measat and Tanjong Plc. Last year, he sold Excel, the exhibition venue in London’s Docklands, and bought a 20% stake in Johnston Press in London.

Kuok, 85, also known as “Sugar King” due to his sugar trading business, has lost US$3bil since the last ranking but has consistently maintained his top position.

His business interests range from shipping to palm oil, hotel and media. Hong Kong-listed Kerry Group Ltd, Singapore-based Wilmar International Ltd, hotel chain Shangri-La Asia Ltd and PPB Group Bhd are among the jewels in his business empire. He is now residing in Hong Kong.

Bill Gates, 53, of Microsoft regained his number one position from investor Warren Buffett, 78, as the richest person in the world.

Gates’ net worth fell by US$18bil to US$40bil, while Buffett lost US$25bil to US$37bil.

Mexican telecom tycoon Carlos Slim Helu maintained the third spot with US$35bil.

This year, the average net worth of the world’s billionaires has dropped by 23% to US$3bil.

The world now has 793 billionaires, down from 1,125 a year ago.

The Forbes survey showed that the collective wealth of the world’s billionaires was worth about US$2.4 trillion, down from US$4.4 trillion a year ago.

The draw of the southern corridor

2009-03-12T02:53:00.000-07:00

Stories by ANGIE NG and SHANNEN WONG

The Klang Valley's southern corridor is growing rapidly, with the landscape going through dynamic changes over the last decade. More trendy residential and commercial projects can be expected.

THE Klang Valley's southern corridor is set for more activities as developers and property investors continue to see good upside potential in the bustling corridor.

Until a few years ago, it was one of the few corridors in the Klang Valley that had large tracts of estate land that were suitable for property development. But in the past decade many new townships and projects have emerged.

However, with building activities increasing in the past decade, sizeable pieces of land are not easy to come by these days. As land sizes shrank, the cost of land has escalated.

Land prices in Cyberjaya and Putrajaya have risen to between RM25 and RM100 per sq ft (psf), depending on location, from less than RM10 psf about eight years ago.

Developers who have the foresight to lock in vast tracts of land here have secured “goldmines” and went on to reap a fortune from their developments.

Key property developers in the robust southern corridor include IOI Properties Bhd, SP Setia Bhd, Island & Peninsular Bhd, Bukit Hitam Development Sdn Bhd, Putrajaya Holdings Sdn Bhd and Setia Haruman Sdn Bhd.

According to IOI Properties director Datuk David Tan, the large land tracts have enabled the development of well planned integrated townships with good infrastructure, commercial hubs, modern amenities, employment opportunities and secure neighbourhoods in the corridor.

“The southern corridor has proven to be a preferred choice with its high accessibility, modern infrastructure and employment opportunities,”

Tan said.

The pull of the corridor has been further enhanced with the good road network including the Damansara-Puchong Expressway (LDP), North South Expressway Central Link (Elite), South Klang Valley Expressway (SKVE), KL-Putrajaya dedicated highway and the North-South Expressway.

Stretching from Puchong and Seri Kembangan to Sepang, Putrajaya and Cyberjaya, remarkable growth in the form of new townships and infrastructure network, have spawned many new opportunities.

New centre of gravity

“The pull of Putrajaya, Cyberjaya, KL International Airport and Sepang International Circuit remains strong, and this has contributed to Klang Valley's new centre of gravity moving southwards towards Sepang.

“The northern part of Sepang that covers Cyberjaya and Putrajaya will experience a faster growth rate, especially with the completion of the SKVE project and the dedicated Kuala Lumpur-Putrajaya Highway that was completed last December.

“

Within the next three to five years, the growth in this corridor will continue to outpace other parts of the Klang Valley,”

Tan added.

SP Setia Bhd group managing director Tan Sri Liew Kee Sin said that based on the draft local plan, Puchong could look forward to more exciting times as an estimated RM3.1bil was expected to be pumped in for infrastructure improvement by the local council over the next 12 years.

“Among the facilities and amenities that residents can expect in the near future are the proposed Puchong light rail transit station and a RM10mil international camping site at the gazetted Ayer Hitam Forest Reserve,” Liew said.

He said Puchong was at the forefront of the transformation of the southern corridor with a rapidly expanding population, which is estimated at 250,000 today.

Highways turns Puchong into a fast- growing centre

The completion of highway networks has largely elevated Puchong into one of the fast-growing centres in the corridor.

Tan said that under the Selangor Structure Plan, parts of the southern districts of Sepang and Kuala Langat had been designated as Klang Valley 2.

Klang Valley 2 encompasses the federal administrative capital of Putrajaya and the information and communications technology-centred Cyberjaya on one end, and the KLIA and Sepang F1 racing circuit on the other. It also includes the area along the coast north of Sepang GoldCoast as far as Morib.

“It is a worthwhile initiative to ensure more well-planned developments, both residential and commercial, whereby private developers will complement the efforts of the public sector to further enhance the vibrancy of the corridor.

“To ensure more quality lifestyle for the people, Klang Valley 2 should avoid the problems of the existing Klang Valley and provide the right environment for living, recreation, education and work,” Tan said.

Source: Click here!

Essential when you decided to buy a house

2009-03-11T03:07:00.000-07:00

money3.com.my

Step 1. Do your home work.

A very common mistake is to commit to the purchase of a property before having clarity on

i	:	if you qualify for the loan, and in particular, if you indeed qualify for the amount you need to borrow to complete the purchase; and
ii	:	the terms and conditions that the Lender(s) may impose and that you can easily meet those conditions, and
iii	:	the sum of monthly repayments that you will be obliged to pay.

First, find out how much you are entitled to borrow and how much the repayments will be . [see Note below] While most Lenders follow a similar process in assessing loan applications, they do differ somewhat in their preferred margins of finance (% of purchase price/value); loan tenure; treatment of source of income such as commissions, rental income, debt service ratios (DSR also known as payment to income ratio, PTI), total commitment to income ratio) as well as whether insurance/MRTA is compulsory.

If buying a property under construction, it is important to have confirmation that a particular developer is not under the Banks’ negative list. Also important is the type of property you are planning to buy. Some Lenders may not accept serviced residences and/or holiday or resort type properties, while other Lenders may not be prepared to lend on properties in certain regions.

Finally, be sure that you have a clean credit history. All consumers are entitled to search the Central Credit Reference Information System (CCRIS) and Credit Tip Off Services

Basically, both CCRIS and CTOS are two credit checks that all Lenders perform as part of their assessment in determining the risk of lending to a borrower.

Should you discover that that you have a history of bad/missed payments or pending lawsuits against you, it pays to speak to an officer or consultant prior to making a down payment for the property as poor credit may very well see to your application being rejected or assessment being severely delayed.
(CTOS).

[NOTE: As a general rule, a DSR or PTI of 40% is acceptable , that is, the monthly loan repayment is less than 40% of the borrower's gross income.An important note of caution: how much you can borrow need not be equal to how much you can actually afford, and should borrow. It is vital that you take into consideration future expenses, increasing cost of living, and the fact that interest rates may increase. Please feel free to use Money3's Loan Affordability Calculator or contact us by email].

Step 2. Finding the "Right" Home Loan.

Clearly what is “right” is very subjective to the individual, and factors to take into considerations are your age, your employment (employed or self employed; salary or commission), whether the property is for your own occupation or to be rented out, if this is your first home loan, the length of time you plan to keep the loan/property; your spending pattern, your short/medium/long term plans for the property and your future financial needs.

For instance, if you have an irregular income, you may be better off to select a loan with flexible repayment terms to better manage your cash flow.

A loan with free prepayment and “re-draw” facilities will suit people with “spare” cash that they can pay into the loan now to save interest (most loans today calculate interest on a daily basis) without denying themselves the right to re-use the sums that was “prepaid”, at a future date.

If buying land with the view of building on that land, be sure that the Lender you choose is not adverse to providing you with an additional loan for the construction of the property, and at a suitable margin for the construction loan.

For property investors, be careful not to select a loan with a long “lock-in” period or high penalties for early discharge, which may well eat into your profit margin.

Common Mistakes

The most common mistake that first home buyers make is not to anticipate future expenses such as costs associated with having children and elderly parents to look after. Whilst the monthly repayment on the loan may be comfortable now, do make allowance for your overall expenses to go up.

Another grave mistake is not to realize that your loan repayments may go up. Most if not all loan borrowers fail to ask themselves if they may still comfortably afford to make the loan repayments if/when interest rates go up 1%, 2%, 5%? Loans with interest rates pegged to Base Lending Rate (BLR) are called floating rate loans which means that as BLR goes up, you will have to pay more towards the loan. Historically, BLR has gone up beyond 12% per annum. In the past, rate hikes have coincided with market downturns and increase in cost of living. Be sure to do your homework here as Lenders will not asses your future financial needs.

If you find that you cannot afford any increases in loan repayments, don’t despair as there are Fixed Rate Loans available in the market usually offered by Islamic Banks and Insurance Companies.

Also, determine how much you deposit you can spare taking into consideration all the costs and fees associated with purchasing a property and taking a housing loan. Once done, decide the margin of finance you want be it 70%, 80% or 90% of the purchase price. Do not forget “ Entry Costs” i.e the fee for the Sales & Purchase Agreement, Loan Agreement Fee, Valuation Fee, Stamp Duties and charges for the Memorandum Of Transfer.[see Acquisition Cost Calculator]

If you are a bit low on cash, you may decide to opt for a loan with Zero Entry Cost (ZEC) where the Lender pays for all or part of the Loan Documentation Fee (lawyer’s fee), Disbursement, Stamp Duty, and Valuation Fee. You will note that these loans attract a higher interest rate.

Insurance Coverage

Finally determine if you wish to have Life Insurance Coverage/Mortgage Reducing Term Assurance ( MRTA) to cover the loan redemption in the event of untimely death of the borrower. This is especially important if the servicing of the loan depends on the joint incomes of all borrowers. Note that not all loan providers make MRTA compulsory although some do offer better rates if the borrower is insured.

A number of Lenders offer loans up to 95% margin on the understanding that the sum equivalent to 5% of the purchase price is utilized to purchase life cover.

Step 3. Making the Application.

Have ALL your documents ready. [see List Of Documents Required]. Applications with incomplete documents will only delay the approval process.

For applicants who come under the ‘Employed” category, be sure to have bank statements ready, as Lenders will definitely want to see the state of you bank account where your salary is credited.

For self employed applicants, you may need to submit some of your company/business’s financials unless your official income (income tax income) is adequate to meet the Lender’s DSR.

Presently Malaysian Lenders do not charge an application fee and there is no legal obligation for you to accept any Letter Of Offer. You are free to apply to as many Bank/Lender as you wish and choose the best offer.

An application accompanied with complete documents will usually take no more than 5 working days to yield a formal answer from the Lender.

Some Lenders give Indicative Letters Of Offers which are NOT legally binding documents and in all likelihood have not been formally approved by the relevant department of the Lender. If you are unsure of whether the loan will be approved or not, it is important to have formal and binding Letters Of Offers prior to committing to the purchase.

Find your home loan now!

2009-03-11T02:36:00.000-07:00

Mont Kiara

located in the Klang Valley, is situated to the north of Kuala Lumpur in Malaysia. A short 15-20 minute drive from KL centre it is ideal for expats and holiday home buyers alike.

Mont Kiara is a relatively new up and coming area with a lot of construction going on at present. Infrastructure has been drastically improved and the area has less traffic than inner suburbs. Mont Kiara is a mix of both commerical and residential areas and has attracted the attention of many overseas property buyers especially from Korea. It boasts golf clubs, a stadium and equstrian club in its midst.

The Malaysian government is actively trying to improve the environment for people looking to invest in the country, the upshot is that its capital city, Kuala Lumpur has become the regional headquarters of many of the world’s major corporations and its landmark Petronas Twin Towers are the centrepiece that kicked of Malaysia’s construction boom.

With rapid urbanisation underway throughout the city, districts such as Mont Kiara and the Central Business District close to KLCC are becoming highly sought after property locations with the international affluent expat community and Malaysian city executives seeking upmarket serviced residences close to international schools and attractive shopping plazas.

Driving through this global village, Mont Kiara appears to be condominium central with upmarket residences popping up on every corner and the success of project brands such as I-Zen,

developed by the enclave’s second largest developer Ireka, whose first condo project Kiara 1 condominium launched two years ago is about 85% sold and completed in April of this year. Kiara 1’s initial average prices were RM380 to RM400 psf but its balanced units were now priced around RM500 psf.

Ireka executive director Lai Voon Hon

is confident of selling the remaining units in view of the strong demand from young professionals who like to live in Mont’Kiara because of its many amenities and good security.

He said

“Our Kiara 2 units have gone up in price. A one-bedroom 765-sq ft unit was transacted at RM555 psf in the secondary market and it could fetch RM4,500 a month in rental or a 15% yield,” he said. The high profile celebrity endorsed Tiffany condominium launched last July has also achieved 80% sales and One Mont’Kiara has almost been sold out although it has not been officially launched.

Property Prices in KLCC and Mont’Kiara have been reported to be stable achieving good capital appreciation and prices are likely to continue to rise given the increase in land price. In addition, average occupancy is about 90% and rents remain stable ensuring investors enjoy attractive rental yields averaging 8-10 per cent, with the better properties fetching as high as 15 per cent. The high-end and niche market is expected to continue flourishing with the outlook for these property developers looking bullish, enjoying the benefits of a recent Government ruling relaxing the rules on foreigners owning residential properties. Kuala Lumpur is just the start of things to come.

Sources: Click here!

10 Most Expensive Property in Malaysia

2009-02-03T09:48:00.000-08:00

The Star (Malaysia) recently published an article titled Kuala Lumpur’s 10 most expensive condos. The article revealed a list of Kuala Lumpur’s 10 most luxurious high end Condos going for a minimum of

RM1000 sq/ft (£142 or US$287 sq/ft).

The list however excluded the yet-to-be launched Four Seasons and The Binjai developments.We are going to shed more light on each of the 10 most expensive condo developments in Kuala Lumpur.

1. One KL

2. The Troika

3. K Residence

4. The Meritz

5. Marc Residence

6. The Avare

7. Park Seven

8. Pavilion Residence

9. Idaman Residence

10. Ampersand @ Kia Peng

Click here!

Welcome to my Property blog

Court lets land owners to challenge MRT land acquisition

Melawati Heights

Landed properties under RM370k nearby Puchong..and its new!!

KLCC Studio for rent!!

Looking for ROI? Look no more..

Below RM790 per sf in KLCC

The cheapest studio in KLCC

ETP takes off, RM30bil worth of projects signed

Property News- New Developments in Setapak, Bangsar South and Etc.

Malaysia Budget 2011

Malaysia Future MRT Plan

Temasya, Glenmarie

Picture for Park View

Parkview Service Apartment @ KLCC RM 2800

Income Tax

Property Outlook in the KLCC Vicinity

Parkview Service Apartment @ KLCC

Here's One Good Way of Selling Property

iProperty.com Survey: Malaysians feel that property prices are too high

Property News

Avare

Avare

Property TalkBy S.C. CHEAH

Avare

KL City Centre - The Avare

Cendana

Cendana Gallery

Hampshire Residences Gallery

Hampshire Residences

Hampshire Residence

Sri Kia Peng

Sri Kia Peng Gallery

Suria Stonor Gallery

Suria Stonor RM 850 per sf

Buyer's Guide

House of Badawi crumbling, housing market vulnerable too

House price changes

Over-supply concerns

Ownership limits eased, CGT abolished

How to create a blog?

Why you should blog?

Why Invest In Malaysia?

Capital Growth Predictions

Rental Yield Predictions

Malaysian Economy

Reasons Why Malaysia is an Intelligent Property Investment Location

Malaysia - Buy-to-let Investment

The "Buy-to-Let" Market in Malaysia

Malaysia - Economic Factors

Government Incentives

Low Cost of Living

High Rental Demand

Strong Tourism Growth

Off-plan Property - Malaysia

Off-Plan Property in Malaysia

How can property be cheaper if bought off-plan – How does it work?

Maximizing Profit From an Off-Plan Investment in Malaysia

Purchasing early

Purchasing the best units

Price increases as development matures

Price appreciates as more units sell

Malaysia - Investment Tax Planning

Capital Gains Tax

Stamp Duty

Value of Property

Stamp Duty

Inheritance Tax

VAT And Other Taxes

Mortgages - Malaysia

Why Invest In Malaysia Property?

Developers zoom in on Taman Desa

Burgess Rawson

Annual Business Conference

1st day at Burgess Rawson

Mini Budget

Friday March 13, 2009 by The Star Online

The RM60bil mini budget hope

Comment by Nicholas Chen

World Richest Guy

Property Talk
By S.C. CHEAH