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28 | On Top of the Game in Property
Fuyuan Chirotopedic Centre Co-founder Dr David Tan shares his points on acquiring properties as being the wisest investment strategy enroute to becoming a millionaire
ZLG - ZEAL for Identity for Design
zlgdesign Managing Director Huat Lim opens up about leading philosophy in design and architecture being feasible indoor and outdoor too
6 COVER STORY
6 | The Real Estate Dilemma: Where Do We Go From Here?
President of REHDA Datuk Seri FD Iskandar Mohamed Mansor gives Property Insight a no holds barred interview touching on various issues plaguing the real estate industry today
12 | Top 10 Most Inspiring Office Spaces
Property Insight did a roundup of the most happening workspaces in town where work and play intermingle seamlessly for talented employees. Needless to say, there’s never a dull time!
32 | Beating the Odds to Secure Home Ownership
Rising costs of living has made it tougher for people buying into the housing market now
34 | New Trend of Healthy Buildings
“We shape our buildings, and afterwards our buildings shape us”, These words uttered by Winston Churchill during his speech at the House of Commons in 1943, are the very essence of a new trend that has emerged for buildings globally and especially in the Asian region
36 | Will Property Market Crash In 2018? 39 | Think Differently. Success is Overated.
DEVELOPER OF THE MONTH
16 | Making The Grade With Sunway Grid
Sunway GRID, Malaysia’s first-of-its-kind youth-centric integrated development is a much sought-after development among Millennials and young couples - testimony to Sunway Group’s success as a developer making successful inroads at Sunway Iskandar
Embrace Failure Instead.
40 | The Future of Malaysia’s Real Estate Market 42 | Ask for More
PERSONALITY OF THE MONTH
Passion with Dedication Turned Dream into Reality
The Director General of Valuation and Property Services Sr Hj Nordin Daharom shares his journey of over 35 years in the Government services
24 | Investment Talk CELEBRITY CORNER
25 | Damsel in Dutamas
Dainty Dasha with her darling voice revels in the comfort of her abode which she gladly calls home
2 I December 2017
EDITORIAL Editor-in-Chief Dato’ KK Chua email@example.com The Beauty of Being Real Perfection in imperfections. Happiness despite adversity. Beauty in blemishes. We live in an age obsessed with seeking the elixir of youth. Staying youthful, slim and gorgeous seems to be the priority burned into the subconscious mindset as advertisements, television and – may we say, social media - inundate us daily by sending out messages for us to be super perfect. So much so, the beauty industry is a thriving business spanning billions upon billions of ringgit. But, the attainment of perfection is never satiable for some – as the benchmark of expectations continue to soar higher and higher – getting out of reach even as we fight against the ravages of time. Another way to embrace life and its challenges lie with welcoming change and the unexpected twists and turns along the journey with grace. What’s a little wrinkle or two – if you still retain a youthful zest for life? That just goes to show we are human, after all. Not perfect, but striving to do our best. Developers too have had to come to accept the realisation that the great old days of raking in huge profits with their developments attracting long beelines with people queuing overnight just to book their units are presumably over. Speak to any developer now and most likely the response will be lacklustre - given the uncertain market. Many are holding on to their launches while those keen to launch are considering their strategies and battle plans with utmost care. The savvy among them know that they have to embrace the rising cost of construction and materials and various policies with a healthy balance of wisdom to survive and make it through the tough times. Adding further insult to injury, the recent imposition on the curb prohibiting developers to build homes priced at RM1 million and above, are further perceived blemishes to the property industry. This quest for obtaining more and gaining market share is something that the real estate scene is familiar with but given the uncertain times, the less than perfect climate also is the best time as ever for developers to revisit their strategies. The climate may not be altogether as conducive as before when profits were easily made and the costs of construction and materials were lower. In fact, even the seasoned developers admit that now is a good time as ever to conduct a reality check in accessing their company’s standing and scheduled launches for the coming year – of whether the market is ready for their range of offerings and if so – what type of products to introduce into a market already saturated with a mismatch of demand and supply. Admittedly, the property market is not as it was before. Having said that, property continues to be one of the most resilient offerings as compared to other commodities in terms of being categorised as good debt with the propensity to garner profitable capital appreciation in the long run. Flip the pages to read about the views and opinions expressed by head honcho of Glomac Berhad and the Real Estate and Housing Developers Association (REHDA) Malaysia President Datuk Seri FD Iskandar Mohamed Mansor who has been in this industry for over 27 years as detailed in his cover story. Just as we embrace and even celebrate life with its perceived imperfections – who know? The property market may just rebound to usher in rosier times. You never know. Till we meet again next month or shall we say next year... Till then, here’s wishing you a truly Blessed Christmas and very Happy New Year!
Editor Yvonne Yoong firstname.lastname@example.org Writer Mages PV Lingam Felicia Soon
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Property Insight Malaysia
Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editors, writers nor employees or agents can be held liable for any errors, inaccuracies and/or omissions. The contents of this publication do not constitute investment advice. It is intended only to inform and illustrate. No reader should act on any information contained in this publication without first seeking appropriate professional advice that takes into account their personal circumstances. We shall not be responsible for any loss or damage, whether directly or indirectly, incidentally or consequently arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect Property Insight’s views. The publisher does not endorse any company, organisation, person, investment strategy or technique mentioned in this publication unless expressedly stated otherwise. The publisher does not endorse any advertisements or special advertising features in this publication, nor does the publisher endorse any advertiser(s) or their products/services unless expressedly stated to the contrary. All rights reserved. No part of this publication may be reproduced in any form or by any means, including photocopying and imaging without the prior written permission of the publisher.
Datuk Seri FD Iskandar Mohamed Mansor President of REHDA
December 2017 I 3
NEWS & EVENTS
LBS LAUNCHES ITS ALAM PERDANA TOWNSHIP
LBS Bina Group Berhad (LBS) recently launched its latest township named LBS Alam Perdana in Ijok located in the Kuala Selangor district. Set to emulate the success of the developer’s flagship township in Bandar Saujana Putra, LBS Alam Perdana is well-poitioned to meet the needs of today’s homebuyers who desire affordable homes in a secure and community-centric environment. LBS Group Managing Director Tan Sri Lim Hock San is confident that the combination of landed residential and commercial developments as well as affordable developments under the RumahSelangor Ku (RSK) and Perumahan PenjawatAwam1Malaysia (PPA1M) programmes planned for LBS Alam Perdana is just what the market needs.
MAH SING’S D’SARA SENTRAL TOPPING UP
Developer Mah Sing Group Berhad (Mah Sing) announced that D’sara Sentral - its fouth project in Sungai Buloh, Selangor has successfully clocked over four million safe man-hours at its topping up event. The transitoriented development (TOD) comprises five towers with a direct covered walkway to the Kampung Selamat mass rapid transit (MRT) station under the Sungai Buloh-Kajang (SBK) Line 1. D’sara Sentral’s retail shops, SoVo Tower and Residential Towers SA1 and SA2 currently stands at 99% completion and are targeted for completion with vacant possession by 2Q18. The project’s two other Towers SB1 and OLO Residence are over 55% and 52% completed. Mah Sing Group Managing Director Tan Sri Dato’ Sri Leong Hoy Kum says the residential towers SA1 is eight months ahead of schedule while SA2 is ahead by 15 months.
SUNWAY ISKANDAR’S CITRINE LAKEHOMES 90% SOLD OUT
Sunway Property’s Citrine Lakehomes in Sunway Iskandar, Johor recorded a 90% sold worth RM90 million within a weekend. The buyers were thrilled by the gated and guarded community, functional design of the homes, the security features and the location. Sunway Iskandar CEO Gerard Soosay says majority of the purchasers are Johoreans, Singaporeans, Klang Valley and Hong Kong citizens. The Lakehomes comprise 87 units of two-storey linked homes which are 2,066 sqft in built-up and 40 units of townhouses with builtup areas from 1,475-1,959 sqft. The link homes costs ranging from RM760,000 whereby the townhouses start with RM550,000 and these concepts are the first in Medini. The 24.55- acre lowdensity development installed with perimeter fencing and closed-circuit cameras too.
4 I December 2017
M ARUNA OPENS SALES GALLERY IN RAWANG
Mah Sing Group Berhad opened its M Aruna Sales Gallery following a secret garden concept township in Rawang. At the opening ceremony, Mah Sing Group’s Tan Sri Dato’ Sri Leong Hoy Kum shares that as a leading property developer, the group no longer just builds houses but strives to build a sustainable development for generations to come. “This is our third township in Rawang and our presence spans 480 acres between the three townships. The Group is confident that buyers would respond positively to M Aruna with its units priced from RM550,000 each.
SIME DARBY LAUNCHES LOT 15 SJCC
Sime Darby Property recently launched its latest freehold serviced apartment called Lot 15 in Subang Jaya City Centre (SJCC). The development comprises two 20-storey residential towers with a total 361 residential units and three levels of retail units. Covering an area of 2.227 acres, the development has a total Gross Development Value (GDV) of RM269.2 million. The units are priced from RM593,888 to over RM1 million with built-up areas ranging between 624 sq ft and 1,001 sq ft. Sime Darby Property Managing Director Dato’ Sri Amrin Awaluddin says the development concept for Lot 15 caters to urbanites who are looking for an interconnected development where commuting is seamless. Lot 15 is a Transit Adjacent Development (TAD) with interconnected development facilities and amenities within close reach.
IJM BAGS UPTOWN 8 CORPORATE OFFICE TOWER CONTRACT
IJM Construction Sdn Bhd, a fully-owned subsidiary of IJM Corporation Berhad, was awarded a M378 million design and build contract from Damansara Uptown Retail Centre Sdn Bhd, a subsidiary of See Hoy Chan Sdn Berhad Group, for the Uptown 8 Corporate Office Tower in Damansara Uptown in Petaling Jaya. The construction of the 31-storey tower with a net floor area of 480,000 sq ft will be completed in 39 months. Built to attain the LEED Gold status, the Grade-A office building has two levels of commercial space and 1,387 parking bays. CEO and Managing Director IJM Corporation Berhad Dato’ Soam Heng Choon says tht the Uptown 8 office tower will have significant impact in the new “golden square” of Petaling Jaya.
REHDA INSTITUTE CEO SERIES 2017
The Real Estate and Housing Developers’ Association Malaysia (REHDAI Institute CEO Series 2017 held its Annual Regional Property Development Conference that was attended by heavyweights in the industry at Nexus Bangsar South, Kuala Lumpur recently. A series of presentations characterised the property conference that saw huge participation coming from various stakeholders from the real estate inudstry at large.
STERLING PRIMA COMPLETES ITS MASRECA N19ETEEN IN CYBERJAYA
Sterling Group’s Sterling Prima Sdn Bhd has completed its maiden affordable housing development named Masreca N19eteen. This mixed development spanning across 15.42 acres of freehold land located in the South West of Cyberjaya comprises 960 units of affordable aparments and 48 units of double-storey shops. The project demonstrates the group’s commitment in providing affordable housing with sustainable living conditions amid holistic surroundings.
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TOP 10 MOST INSPIRING OFFICES Property Insight did a roundup of the most happening workspaces in town where work and play intermingle seamlessly for talented employees. Needless to say, there’s never a dull time! BY YVONNE YOONG
The Stampede Solutions Sdn Bhd office located in Bangsar South, Kuala Lumpur is as people-centric as it gets with its colourful and airy space design connecting multiple areas together. The central pantry which connects two separate sides of the office space doubles up as a central town hall area for meetings, conferences and parties to take place. The open plan workspace encourages collaborations and spontaneous brainstorming activities to unfold. The glass cladding complementing the walls in an assortment of shapes invites illumination into the space for a sense of visual openness.
VC CLUB At The PLOT
If there’s any firm that has got the right formula for marrying work and play into its work culture DNA, it’s PDI Design & Associates. Being one of the first companies to introduce this concept of making the workspace a fun place to be at, it launched a new way of working with its swanky main office named The PLOT located on Jalan Maarof, Kuala Lumpur in 2008 - to exceedingly rave reviews. Since then, it recently underwent a makeover with the renovation and refurbishment of its premises located on the ground floor. Aptly named VC CLUB, this level has its own unique entity and personality inspired by the aesthetics of English Gentleman Vlubs mixed with Art Deco details. Divided into three spaces with different heights, the club spanning an area of 1,345 sq ft is divided into a bar area, living space, meeting room, lounge and terrace area occupying 485 sq ft. The perfect place for socialising after official working hours are over indeed! 12 I December 2017
What better way to foster entrepreneurship and stimulate market-drive innovations across the Sunway Group including Sunway University and Sunway Ventures than with a unique workspace area such as iLabs in Bandar Sunway, Selangor. Playing a pivotal role in nurturing the next generation of Entrepreneurs through experiential learning and entrepreneurship programmes, iLabs has the potential to create a virtual job creation cycle, universityindustry collaborations, revenues for local businesses and the Government besides showing the tangible benefits of the academic impact on the Malaysian economy utilising its unique, not-for-profit concept.
Rustic professionalism may be the best way to define the Chur Associates lawyerâ€™s firm located on Old Klang Road, Kuala Lumpur that represents a breakaway from traditional legal eagle companies. To be rustic is to be associated with a rugged and resilient spirit - evoking a sense of simplicity and ingenuity. This workspace which has a connection to the past best describes the leadership role as being king of oneâ€™s own workspace castle. The ever-shifting hues of the desert sands and canyon walls juxtaposed against the smooth and unpolished surfaces engage the three levels. Meanwhile, the quiet retreat spaces complement the open boardroom on the rooftop level. Tall trees spanning across all levels of the air well allow natural lighting in during the day â€“ a clever energy savings approach which is essential and pertinent.
The key to crafting a great office space often is as simple as adhering to the context of the project itself. Landmarc International Properties, primarily an asset management company, designed a space that reflects the vision of the company. The office features a spacious welcome lounge that comes equipped with a champagne bar. The pivot glass doors lead to the eight-person boardroom which centres around a custom-made solid Greek marble table positioned to project natural sunlight throughout the space to promote natural lighting for greater productivity and wellness in general. The open plan office allows for social interaction which makes individuals feel less isolated while also allowing for spontaneous interjections and helps to promote creativity.
December 2017 I 13
Santa Fe Interior Architecture
Taking a cue from the idea that one is the product of one’s environment, the Santa Fe Interior Architecture firm, also known as FE Studio, designed its office area as a holistic environment balanced by energy, greenery and cultural values. Open spaces characterise the office whereby the careful manipulation of natural illumination envelops the casual spaces where Interior Designers can choose their respective places to chill out for brainstorming, work, play, dining and resting sessions. Visual connectivity is key and informal discussions and meetings are encouraged, resulting in creative collaborations and brilliant inspiration that wouldn’t otherwise occur. There’s even a spa and dipping pool area at this office - complemented by a function hall, art studio and an inspirational corner as well as an outdoor courtyard, not to mention a stable where a tiny horse resides – perfect for the company’s outdoor activities and bringing one closer to nature.
The new headquarters of FLP Realty Sdn Bhd commands a second look. Dubbed as among the trendiest real estate outfits, the launch of its new and inspirational headquarters costing almost RM3 million to set up mirrors a strategic move to improve the company’s business performance. Its colourful and multi-faceted ambience aims to create a delightful work and play environment to instil a culture of motivating the next level of workplace excellence and productivity while boosting morale and grooming a new generation of competent real estate professionals. Various workspaces, discussion lounges and relaxation areas complemented by quaint and fun motives as well as props and accessories including vintage cars, a billard table, swings and park benches encourage employees to work and play hard. The multi-faceted ambience aims to inspire a “work and play as well as delightful” environment which is key to creating a culture that will motivate a high new level of workplace excellence and productivity aimed at fostering and booting overall morale while grooming a whole new generation of “confident, competent and fulfilled” real estate professionals. 14 I December 2017
Cement renderings and other materials such as raw bricks complement this sleek office with an aura of understated elegance to a tee. With sustainability being one of its core values, this is one office with a difference – as also exemplified by its ring circle organisational chart which is the structure it follows – doing away with a sense of strict hierarcy. In line with its emphasis on healthy living, work and play, there is even a gymnasium to work out at within its office space. Indeed, the Thriven office sees to it that its employees walk the healthy and sustainable talk. Besides the workout area, the break-out space also has a pool table.
Step into the Leaderonomics office and immediately, the graphic representation of the Kuala Lumpur skyline in the background emblazoned on the wall with the words “Building Communities Through Love” sets the tone for the space. Dedicated to grooming and bringing out the best in leadership qualities, the graphic representation of trees denoting the company’s value system which is growth takes pride of place in the middle of the work area. Meanwhile, the stage area is where employees meet to hold internal training sessions and other such gatherings.
Flexible workspaces designed as part of the vision for the Captivate office designed and constructed by Landmarc International Properties sees convertible wall-to-wall collapsible doors which can transform the area into a single work area or partition the office into smaller discussion spaces at a moment’s notice characterise the Captivate office which is located at Uptown 1 in Damansara Uptown, Petaling Jaya. This firm which specialises in brand activation and merchandising services for Fast Moving Consumer Goods (FMCG) companies has adopted this flexible open plan office concept in line with its fastpaced consumer moving industry. December 2017 I 15
Developer of The Month
MAKING THE GRADE WITH SUNWAY GRID Sunway GRID, Malaysia’s first-of-its-kind youth-centric integrated development is a much sought-after development among Millennials and young couples - testimony to Sunway Group’s success as a developer making successful inroads at Sunway Iskandar BY YVONNE YOONG
Interested buyers at Sunway GRID observing the scale model of the development
16 I December 2017
unway Iskandar, dubbed Nature’s Capital City represents Sunway Group’s largest township yet in ASEAN’s next strategic growth centre known as Iskandar Malaysia in Johor. Spanning across 1,800 acres of land with a gross development value (GDV) of RM30 billion, the integrated mixed-use development envisioned by the group has turned into a very present reality. Seen as a culmination of Sunway’s extensive experience in master-planning communities, the epitome of a liveable city complemented by the valuegenerating hub has been integrated with six beautifully-crafted precincts. Once completed, it will comprise world-class key components including educational institutions, leisure hotspots, healthcare and recreational facilities so there is something for everyone. Not to be left out are buyers from the younger generation known as Millennials who are seeking to be part of the action here. Understanding the need to cater to the younger generation, the group’s Sunway Property launched the unique integrated Sunway GRID development. Spanning across 5.2 acres, the residences represent the first build-andbuy online homes. When the website was launched, the response to this innovative concept of allowing purchasers to book their preferred unit and customised it online from anywhere in the world without the need to visit the show gallery received overwhelming response. One such satisfied buyer is Ryan Teo who managed to log on to Sunway GRID’s website at www.sunwaygrid.com during the latest launch of Sunway Iskandar. After booking his preferred unit online, Teo was thrilled to discover that within minutes of sealing his purchase, destiny saw to it that he would welcome his first baby on the same day. “I personally wish to thank Sunway Property for introducing the first build and buy online concept for Sunway GRID. It is very convenient and I managed to book my unit online while waiting for the arrival of my baby at the hospital. “This made 11.11.2017 one of the most remarkable days of my life as I got my baby and a house on the same day!”
Sunway staff assisting customers with the first online booking system application introduced by Sunway Property relates the happy new father. He says that the decision to purchase the unit revolved around the fact that it is one of the most affordable residential developments in Medini which allows one to customise the rooms, furniture and more according to one’s own needs. “Sunway GRID is a space that we imagine will bring a community of youths to come together to commune, exchange ideas, and flourish their personal and business ambitions. “This is the first time that we have designed a fully youth-centric development and created digitallycustomisable homes. This enthusiastic response from the market encourages us to come up with even more innovative products for Sunway Iskandar,” shares Gerard Soosay, CEO of Sunway Iskandar. Located in the Lakeview precinct, Sunway GRID’s first and second phase
launch comprise 219 units of apartments ranging from RM 380,000 for non-loft and RM 527,000 for loft units. The units range from 584 sq ft to 772 sq ft and come with extraordinarily high ceilings which are designed at 3.7 metres for non-loft units. The 4.5 metres allocated for the loft units which come with a bay window respectively were welcomed by customers. All of the units are allocated car parks. The loft suites are in fact, the first of its kind that have been introduced in the Medini region. The Sunway GRID development which is unique in its design with high-contrast black and yellow hues is created for youths by youths of Sunway Property who spent a year discovering insights into what the youthful demographic needs to support their lifestyles before coming up with the concept and designing the development.
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Developer of The Month
A family of three people at the living area of the Sunway GRID show unit
SUNWAY GRID Sunway GRID is the first build-and-buy online apartment in Malaysia where buyers are able to design their own respective choice of apartments via the internet. Once completed, the youth-centric development will provide the ultimate urban lifestyle to those who want to live, work, and shop within one location while living in a vibrant community. The RM374 million Sunway GRID integrated development brings together a block of apartments totalling 501 units, a commercial podium featuring flexi suites comprising 74 units and 41 shoppes spanning across 5.2 acres. The flexi suites and shoppes are designed and priced for Entrepreneurs and start-ups which only require mediumsized spaces to kick-start their respective businesses. In addition to the commercial hub located within the development, residents of Sunway GRID will also be able to easily access the retail offerings provided at the 88 shops in the Emerald Boulevard commercial hub besides many other offerings which will be located within the adjacent Sunway Big Box Village, a first-of-its kind large format retail development within the township. Equipped with flexible layout options based on the interests of buyers, the development is designed to enable residents to live and shop under one roof where the apartment and retail shops are interconnected and easily accessible. Sunway Grid will feature 501 units of apartments, 74 units of designer offices and 41 units of retail lots. Picturesque views of Serene Emerald Lake Garden and Pendas river fall into sight within this development area which is within walking distance to Sunway International School.
18 I December 2017
Ryan Teo and his wife Annice Ko along with their newborn Ethan Teo, who arrived into the world minutes after Teo booked a unit.
Location-wise, the Sunway GRID development is a mere five kilometres away from the Malaysia-Singapore Second Link via the Coastal Highway Southern Link (CHSL) which was opened on end November. The township’s management partnered with the Causeway Link to ferry residents who are working and travelling from Singapore to Sunway Iskandar. For these reasons and more, Millennials - mostly first-time house buyers, are logging on to design and customised their dream units at Sunway GRID . For more information about Sunway Iskandar’s latest launches, log on to: http://www.sunwayiskandar.com or like their Facebook page: https://www. facebook.com/sunwayjohor.
Sunway GRID’s interested buyers registering their preferred units online via www.sunwaygrid.com
The public trying out the first online booking system by registering their units at the Sunway GRID launch held at the Sunway Iskandar Sales Gallery in Iskandar Malaysia.
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Personality of The Month
PASSION WITH DEDICATION TURNED DREAM INTO REALITY The Director General of Valuation and Property Services Sr Haji Nordin Daharom shares his journey of over 35 years in the Government services BY MAGES PV LINGAM
Perakian, the Director General of Valuation and Property Services Sr Haji Nordin Daharom has a come a long way via rank and file until appointed of his dream post as the Director General (DG) in 10th August 2017. Nordin, the eight in a family of 12 children whereby his father was a Forrester Grade 1 in Perak Forestry Department, Perak. After completing his tertiary education, while he was holding managerial positions then he was awarded the British Council Scholarship to pursue a course in Master of Land Economy graduating in 1993. During Dato’ Nawawi Hj. Arshad tenure as the DG in 1995, Nordin was queried by Sahari Mahadi being the Director of National Institute of Valuation (INSPEN), if he would become a DG someday. Nordin responded, “I have a chance because what is required is a degree in property management, registered valuer, have excellent performance track record plus the fact that in 1981 batch, I was the youngest member,” says Nordin.
THE WORKING YEARS
However, the conversation seems simple but was self-challenging as Nordin needs to be a registered valuer while making sure that he is updated with apt technical knowledge and stay hands-on with momentum at work daily.
20 I December 2017
“Although my training was in the field of real estate, but my inclination is in the land acquisition and valuation or compulsory purchase after valuation. Land acquisition valuation is to ascertain market value for land that is affected by government project,” adds Nordin. Nordin emphasises his interest in this line due to an act which says, ‘Article 13 of Malaysian Federal Constitution -No person can be deprived from owning a property unless is provided by Law and paid adequate compensation’. In this context, Nordin pique his love to read the land acquisition reports, attending to a rebuttal report and helping JPPH staff in the preparation of Land acquisition references to Court. “I have no specific role models, but my inspiration are my own father, brother and friends,” shares Nordin. His father who was a simple man but maintained education as a vital tool in life. Although he composes as a strict man but upholds harmony and endowed a jovial atmosphere at the family gatherings. “My father used to be my bed time story teller. One of which could be applied in my management strategy,” chuckles Nordin. Nordin says his management style derives from his father who says whatever happens in today’s working environment, the younger staff are more knowledgeable even in arguments,
but we must tackle and iron things out sensibly and be vigilant too.
“I have been serving this department for more than 36 years and have been transferred to JPPH branches throughout the country approximately 11 times before ending in JPPH Headquarters Putrajaya,” affirms Nordin. Nordin presses on building energy and foresight through these three factors which has indirectly or directly impacted his management style that is firstly being competitiveness, then value added and dare to be different and thirdly to be wise and knowledgeable. “We should build our own strengths so that our organization would be able to handle any unforeseen situation, challenges and problems encountered,” adds Nordin. He also emphasises working on exceptional levels despite encountering disparities or circumstances along the way. He also reminded to refine oneself to have knowledge and always be up to date when issues arise it could be handled easily. Nordin says when we talk about leadership style according to management book there are 12 Leadership styles starting from Autocratic Leadership style to Laissez-
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Personality of The Month
We should build our own strengths so that our organisation would be able to handle any unforeseen situation, challenges and problems encountered” – YBrs. Sr Haji Nordin bin Daharom
faire Leadership style. “I am a sportsman’s in my younger days and my favourite sports are badminton, sepak takraw and football. Being a sportsman’s, I am a team player and the success of the organization is achievable by the effort done by people at every level in the organization and not only by one person,” says Nordin. So, Nordin exerts his leadership style as much related to Team Leadership and Transformational Leadership. Team leadership is working with the heart and mind of all those involved and Transformational leadership is to motivate others to do more than they think is possible.
MOVING FORWARD FOR JPPH
“My contribution to the community especially to the valuation fraternity is for me to impart the valuation experience gathered over the years. I used to give lectures as a part time lecturer in University Technology Mara, University Technology Malaysia. I was adjunct Professor in University Tun Hussien Onn Malaysia from 2015 to 2017 too,” shares Nordin. There are some initiatives undertaken by JPPH and following through now under his authorisation. Firstly, on the corporatisation of JPPH which was announced on September 8, 2017. Then, JPPH is also looking at computer development project which was inspired in year 2009 costing RM199 million, being an agreement drawn out with Sapura this year. The project includes workshops for the user requirements and interfaces related to agencies related to JPPH. JPPH is authoritative on property data whereby on a recent Valuation Directors meeting, the accuracy of data collected
22 I December 2017
TENURE IN THE GOVERNMENT SERVICE
was raised. Less accurate data or facts will affect the accuracy of decisions made. It is therefore the responsibility of technical staff at all levels to ensure the information entered in the database has been cleaned and it accuracy verified and investigated. Valuation Program and National Property Information Centre (NAPIC) Program would cooperate to establish a mechanism to ensure that the data entered is accurate from the source files. Nordin says that the Estate Duty Valuation on the amendments based on the Estate Duty Law there is a suggestion that the assessment of this estate can be given to private valuer as to provide option to the rakyat to choose between the government valuer or the private valuer. “Under the leadership of my predecessor Dato Dr. Rahah Ismail with senior managers of JPPH we developed
the Strategic Plan and Succession Plan Department until 2020 and our main challenge is to implement the Strategic Plan,” says Nordin. In line with the theme “Public Service Aspiration to TN50: Submission to People and Country Prosperity”, JPPH will strive to achieve the National Transformation 50 (TN50) aspiration. In addition, to have more synergy in productivity we must work hard, work smart and work sincere with this we can elevate JPPH as first class.
PROPERTY WORTH IN FUTURE
The property market has softened since 2015 and has remained so in the first half of 2017. Nevertheless, it is gradually adjusting to the changing domestic economic and financial ecosystem. This is due to the lower contraction in market activity. The market performance will have its
Head of Hilir Perak Rating 1983
District Valuer Teluk Intan 1985
JPPH Sabah Assistant Director in 1987
Seberang Perai District Valuer in 1993
JPPH Perak Assistant Director in 1995
Kedah State Director in 1997
Assistant Director General (Property Consultancy) in 1999
Perak State Director in 2001
NAPIC Director in 2006
Johor State Director in 2007
Selangor State Director in 2010
Deputy Director General (Management) in 2013
DeputyDirector General (Technical and rename as Policy Strategic) in 2016
Director General in 10th August 2017
bearing on valuation of properties in good times, properties would be expected to record higher appreciation, reflecting market confidence and better prospects. However, in a softer market, value of properties would still remain intact with lower growth. There are various initiatives provided by the government for first-time home buyers such as My First Home Scheme, MyDeposit, Stamp Duty waiver for first home purchase. “My first advice is they would need to weigh their affordability level and financial capability to service the home loan. Secondly, purchase from reputable developer with good track record and thirdly, they need to be more realistic in choosing homes, it’s a matter of needs against wants,” says Nordin in conclusion.
December 2017 I 23
FIRST E-COMMERCE MARKETPLACE FOR INSURANCE PRODUCTS IN MALAYSIA Jirnexu, a Southeast Asian fintech startup has been approved by Malaysia’s central bank to compare, sell, process payments and issue e-policies for insurance products. Joining Malaysia’s Bank Negara Financial Technology Regulatory Sandbox, Jirnexu is the first company in the country permitted to sell select general and life insurance products from multiple providers, and the first to build a dedicated E-Commerce marketplace for insurance. Fintech Firm Jirnexu first to build E-Commerce marketplace for insurance products in Malaysia; joins Bank Negara’s Fintech Sandbox Permitted to sell select general and life insurance products from multiple providers Will compare, sell, process payments, and issue e-policies—starting with term life and motor insurance
HATTEN LAND’S NET PROFIT RISES Hatten Land Limited, an award-winning Melaka-based developer announced that its net profit for the three months ended September 30, 2017 (1Q18) rose 63.2% to RM3 million from RM1.8 million in 1Q17, and announced healthy sales for its new wellness-themed development. Net profit growth driven by higher revenue 104 out of 154 units of the first phase of Satori sold, lifting unrecognised revenue to RM760 million as at September 30, 2017
IOI PROPERTIES Q1 NET PROFIT CLIMBS 26% IOI Properties Group Berhad continues to deliver better performance amidst the current challenging market conditions with an increase in its net profit. The group’s net profit climbed 26% to RM251.0 million for the 1Q18 ended September 30, 2017. It recorded an operating profit of RM329 million which is 22% higher than the preceding year’s corresponding quarter on the back of RM870 million in revenue with the increase contributed by its three main business segments in property development, property investment, and leisure and hospitality. The group’s property development segment recorded an operating profit of RM270.2 million in the quarter under review, an increase of RM46.7 million or 21% as compared to the preceding year corresponding quarter mainly derived from improvement in sales take-up rate in Malaysia particularly in the Klang Valley and Johor. Profits from the property investment segment was mainly derived from higher occupancy and rental rates.
24 I December 2017
DAMSEL IN DUTAMAS Dainty Dasha with her darling voice revels in the comfort of her abode which she gladly calls home By: FELICIA SOON
asha Logan, aged 30, who hails from the Pearl of the Orient has been singing professionally for more than a decade. Being the daughter of the late legendary Vocalist Loganathan Arumugam of the famed Alleycats band, Dasha was offered her first singing gig at the age of 17 that kicked-started her live stage performances. The Alleycats is a local band comprising musicians from Penang which gained popularity in the late 1970s for their live rock music performances. “I have always been singing since I was a little girl. I always knew I loved singing even back during school days. In fact, I could not wait to finish school so that I could sing in my school’s choir group,” gushes Dasha with a smile. “If there were any concerts, I would volunteer to sing at those concerts. This is me, the girl who always love to sing,” she enthuses with a bubbly laugh. During a recent visit to her high-rise residence at Jalan Dutamas Raya in Segambut, Kuala Lumpur, Dasha shares that the reason she is a singer is because of her father. “He was my number one inspiration. I used to watch him perform live on stage when I was a little girl and saw how much he enjoyed performing on stage. Hence, whenever I sing or perform, I try to have as much fun as I can,” says Dasha. She adds that her father used to take her for his big concerts during Merdeka
December 2017 I 25
For me personally, I like things that are random, looks very unique and are not commonly found but still matches the interiors” - Dasha Logan
Day celebrations which were usually held in the Kuala Lumpur City Centre (KLCC). He also took her for smaller concerts such as private stage performances in bars or restaurants. “As long as we could be with him, we would follow him,” recalls Dasha fondly. Some advice regarding the music industry that her father shared with her was that the music industry is the same like any other business whereby you need to take care of yourself and be cautious of whom who you are working with. He also advised her to remain professional when working with clients and to find the right manager and people to work with. Dasha also shares that she admires her father’s good attitude and leadership skills. “He was very helpful towards his band members. My father was more in charge of the musical side of the business so he would send songs to his team and help them to learn up the songs. “As such, he played a big role in ensuring that everyone did their job right. I felt that he was a very good leader as he knew how to manage his band
26 I December 2017
and got along well with everyone. To me that is the true leadership skills that he possesses,” she opines. Dasha says she performs regularly at Suzie Wong, Kuala Lumpur’s hidden bar in Jalan Raja Chulan, Kuala Lumpur. Friday nights especially would see her performing at TREC (Taste, Relish Experience, Celebrate) situated on Jalan Tun Razak, Kuala Lumpur, just to name a few. She has also graced several magazines who have managed to capture her beauty and poise on stage. Despite her colourful on stage persona, home is where her heart is. “I moved to Kuala Lumpur with my mother and brother. Currently, we are residing at this condominium here at Segambut, Kuala Lumpur. “This condominium is rented from one my brother’s friend from Penang called Juliana. She owns this property so when I told her I wanted to move closer to Kuala Lumpur city, she suggested I rent this place from her,” shares Dasha. The best part about this place she says was that everything was already ready when her family moved in.
What she likes most about the unit is that it is situated nearby all the places that she would go to sing and perform at. The petite singer is also looking into buying a property soon. “A few of my friends are looking into buying a place in town. Since young, we were used to attending may open houses at Batu Ferringhi in Penang and I often wish I could buy a house in that area. Currently my brother owns a place in Cyberjaya where he works. “Hopefully, I will be able to own my own place by the time I am 35 years old,” says Dasha whose dream is to live in the heart of the city centre close to town. Although she doesn’t mind owning an apartment, Dasha shares that she would prefer to have a landed home with a garden so that she could rear pets. “I was brought up in a house with a garden where we kept dogs in our compound. I like things that inspire me which include having a lot of colours in one place. The owner of my current place does a great job in ensuring that all the lamps in my residence possess different designs. I really like that interior concept because sometimes you can just sit down and stare at something and get really inspired just by concentrating on something,” shares Dasha. “Since young, I was brought up with the idea of not getting things with colours that show dirt. So, everything that I own is not white in colour but is either grey or brown and I like colourful stuff. Although you may find here my abode here mostly being painted in shades of white or beige, there are still a few things that I have personally selected for their colourful contribution to the space.” “As someone who loves peppermint tea, I went and bought a colourful tea set from Publika even though it was expensive because I love the cup and pot that are colourfully designed. I would say that my taste for interiors is more eccentric. If you watch the American sitcom “Friends”, everything in their apartment is eccentric-looking whereby nothing matches but the interior still fits in well together. For me personally, I like things that are random which possess a unique look and are not commonly found but which will still match the interiors.”
“I think that my home really reflects my personality because there are things about me that are very colourful and also, there are things about me that are very shy and quiet as I like to be by myself and read. “So you can see both sides of me. When I sing and perform, I can be very colourful and belt out high energy performances on stage. But during the day, I just like to chill out with my mum, relax and spend time by myself.” During her leisure time, the singer also likes to solve puzzles. But most of the time, Dasha enjoys spending time researching music and finding new songs to write. She also likes playing the piano although she suggest that she is not really good at it besides meeting up with her friends as well. “In the daytime, if I have nothing to do, I like to spend my time at home. In the music industry, it is not just about performing at night as we also need to meet clients during the day. If I can spend time at home, I usually will do so. However, in the evenings, I prefer to watch live music or watch my friends performing. There is always something to do in Kuala Lumpur every day so I love living in the city,” enthuses Dasha. “Some of my biggest inspirations from the music industry are Amy Winehouse, John Mayer and Bruno Mars. Bruno Mars’s music and his dressing style are interesting while John Mayer is really chilled out with his music. I try to draw inspiration from various musicians and I often learn something new from them.” “When it comes to local artistes, my personal favourites are Najwa Mahiaddin, Talitha Tan and Kayda Aziz, who is Sheila Majid’s daughter. “Poova Plachciak is a friend of mine and of course, Yuna and Jacklyn Victor, who have taken singing to the next level and out of the country. I know them and yet they are so humble when you meet them. It is so awesome indeed to watch them when they perform live on stage.” Besides continuing her passion for writing music and singing, Dasha hopes to release an album sometime in September 2018. “I am always writing songs and
Iconstantly listening to music as I do not like it when it is too quiet. Hence, if all goes well, I hope to be able to buy my own property soon as investing in properties will generate good returns in the long-term, especially when you buy at the right location. Take for example, Jalan Dutamas Raya which is a strategic location as it is close to amenities like Publika Shopping Gallery which is just situated 10 minutes away. In fact, KLCC is only just 20 minutes away. “It like living in two worlds here. There is this border where you will literally see a road, where on one side is all the high rise residences and apartments, and on the other sid, there
are all the squatter houses. Interestingly, as there will be new additions of high-rise buildings being developed in this area, the local authorities are planning on changing the name from Segambut to Kiara North to meet the demands of upgraders looking to buy a home close to the elite neighbourhood of Mont’ Kiara in Kuala Lumpur.” “What I like about this place is that it is located on the hillside. In Penang, most of us live near the hillside and the sea. I like the fact that this quiet enclave is soon going to become a bustling area with the new developments coming up in this area.
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Investor Next Door
ON TOP OF THE GAME IN PROPERTY ACQUISITIONS Fuyuan Chirotopedic Center Co-founder Dr David Tan shares his points on acquiring properties as being the wisest investment strategy en-route to becoming a millionaire BY MAGES PV LINGAM
roperty Insight had an opportunity to speak to Dr David Tan who cofounded Fuyuan Chirotopedic Center located in Cheras, who administers traditional healing therapy called ‘acupuncture’. It all started with his family’s conventional mindset that in order for someone to be successful in life he has to study higher, secure a good job, save the money, lives comfortable and then go on to buy a property or two. Tan’s mother has always reminded him not to have any debts or owing the bank but if in the case to settle the loans as soon as possible. She was on the other hand, was working overseas to fend for his studies. Tan’s father who was a coconut seller in Alor Setar, Kedah disallowed Tan from working part-time or helping him out in the business. In 1997, father was 47 when stroke caused him to be paralysed. Tan was only 16 years old then. Tan had a comfortable life as the father’s wish was for him to study hard and produce good results in school. Tan’s mother took care of his father for 17 years until he died in 2014. Despite that, Tan says during his secondary school, he joined the St.John’s Ambulance Society and which brought him closer to a senior who taught him societal thinking. “To have a breakthrough in life, I preferred to be among the senior or elderly people and who are far older than I,” adds
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Tan, who was very determined to look for a traditional method to prevent stroke instead. He says that western medications are expensive and at time proven to be futile at most times. Tan studied Diploma in Engineering in Tunku Abdul Rahman College in Penang but decided to take up alternative medical in year 2012. He was in Guangxi University in China till year 2015. Tan found out that stroke patients can be treated back to normal living conditions. So, he specialised in technical part of the acupuncture treatment.
NEXT PHASE IN LIFE
While practising his acupuncture, Tan worked as a part-timer in his wife’s company where he markets training programmes. Then, his wife advised to listen and participate in the programme that teaches to be financially driven and independent but Tan was stubborn. “I didn’t pay much attention till one day I decided to listen to one prolific international speaker, Robert Kiyosaki, when I realised my entire life had a bout
of paradigm shift,” says Tan. Robert Kiyosaki, author of famous book called ‘Rich Dad, Poor Dad’ shared much information on managing financially to achieve our set goals. I made an initiative to find out more about the much talked about Kiyosaki. A breakthrough came for Tan in year 2015 when Kiyosaki was in Malaysia. But, incidentally he was seeking for medical treatment to cure his prolonging cough. His medical consultants told Kiyosaki to seek acupuncture instead in Asia. Immediately the conference organiser referred us to meet up. Tan started applying medication to Kiyosaki. Kiyosaki saw quick improvement and was relief with the treatment. So, to maintain his health condition, he offered Tan to join in his two-week Asian tour from Vietnam, Thailand to Philippines, which prompted him to decide within a day! Tan was super excited given an upclose and personal chance to be treating the financial freedom guru as a resident acupuncturist. “I gave it a deep thought that if I still remain in my comfort zone even in the next 20 years I would still stay the same. So, I decided to make a move,” opines Tan. Of many advises Tan listened while being with Kiyosaki was to cultivate a reading habit. Kiyosaki was 69 then, but was always seen with a book in his hands.
EMBARKING ON A PROPERTY JOURNEY
Even, Kiyosaki and wife Kim owns more than 3,000 units of apartments valued at US500 million (RM2.1 billion) amongst other investments have created their portfolio by leveraging on passive income. This has motivated Tan to learn more on property journey and joined a group of friends who have similar property investment mindset. Now, Tan is a trained coach, teaching property management. “My first property was bought on a joint loan with my wife in year 2012. It was a RM230, 000, 1,100 sq ft, two bedroom condominium in Palm Springs Kota Damansara. We are still holding on to that property as the price has appreciated due to the Mass Rapid
I gave it a deep thought that if I still remain in my comfort zone even in the next 20 years I would still stay the same. So, I decided to make a move” - Dr David Tan
Transit line (MRT) build close to the area,” shares Tan. The rental value is at RM1,400 per month. The deposit for the home was from their savings. Then, his wife prompted him to purchase a landed property in year 2015. They found a double-storey link house valued at RM780,000. The original price of that property 12 years ago was only at RM200,000 but currently seeking for a price of RM500,000 and above. Tan says he has learnt a lot of strategies from reading and training programmes on property investments. He always looks out for potential of an area in the next five to ten years on how the place would be develop, the amenities and accessibilities available for appreciation in future. Tan’s next acquisition was a unit at Robertson Residence located in Pudu, KL a project by Gamuda Land Berhad. “If am not familiar with the property I would not invest. If the area is strategic, I would not fear to invest either,” says Tan. He emphasises to learn on loan preparation methods the legal way in order to be approved by the banks. He also advises not to follow the crowd to jump into any investments as this might be a failure in the long run. Tan also owns a a property in Opus @ KL located at Kg Attap in Kuala Lumpur, a project by Bina Puri Holdings Berhad.
Tan says if you don’t take an action or face a challenge then you would always live in fear. And when you don’t know the value you will also feel the fear to spent on any investments. He adds that investment in education is vital part in a journey to success in life. The ‘free’ mentality has to stop, as Kiyosaki said once that the most expensive things
is to get free things from others, when you lose more money instead! Tan adds that if we learn to know about something that value millions than it would surely be worth millions too. His future plans are to indulge in making plans for future investments in the next ten years.
PROPERTY 1 Location Property Type
KL city centre service apartment Purchase Value RM800k Market Value RM1.1mil Price psf RM1180 Rental per month RM5.5k Loan Margin 90% Loan tenure 35yrs
PROPERTY 2 Location PJ Kota Damansara Property Type condominium Purchase Value RMRM233k Market Value RM460k Price psf RM460 Rental per month RMRM1.5k Loan Margin 90% Loan tenure 35yrs
December 2017 I 29
ZLG - ZEAL FOR IDENTITY IN DESIGN
zlgdesign Managing Director Huat Lim opens up about leading philosophy in design and architecture being feasible indoor and outdoor too BY MAGES PV LINGAM
Invest outside the city centre and decentralise, and then embrace simplicity and minimalism, reduce clutter and dispose of stuff you don’t need. Break into the more developed city centre when you can afford the higher costs, as most projects in these parts of the city are luxury products which we don’t deem to be of any value to investors” - Huat Lim
30 I December 2017
n architect who has graced notable recognitions and a string of awards for his impeccable designs and structures is zlgdesign (ZLG) Managing Director Huat Lim whose good looks stems from his Malacca Baba Nyonya parentage. Since young, being a studious person, Huat Lim aspired to go abroad to grasp as much knowledge as possible. He studied at University Teknology Malaysia (UTM) but when the time arrived in 1978, Huat Lim was strongly encouraged by his Professor to continue studying abroad so he flew to London in the UK. There, he graduated from the Architectural Association School of Architecture in London - a 150-year old renowned club turned into a school producing legacies and architecture greats including Zaha Hadid, Rem Koolhaas and many more. After which, he travelled to Nimes in France to work on La Mediateque de Nimes and stayed in Lyons to work for Francoise Jourda et Gilles Perraudin Associes before returning briefly to Paris and then London. Huat Lim married Susanne Zeidler of German origin, and returned to Malaysia in 1992. Together, set up their practice called ZLG. Huat Lim accumulated his experiences over eight years under Foster and Partners’ Sir Norman Foster with Stansted Airport being the main project and for Zaha Hadid for a certain period and thereafter for Ron Herron at Imagination Limited London, the UK.
DARE IN DESIGN
“We are a design practice with approximately 30 years’ experience in providing our clients a conceptual and
philosophical premise to their projects. Since we focus on boutique projects ranging from hotels to private residences and visitor centres, we don’t wish to target commercial projects too much. We also target housing developments and social or cultural buildings as these typologies are critical to our profile in raising awareness to communities,” says Huat Lim. The Capitol Hotel by the Low Yat Group was the first project undertaken by ZLG in 1994, which comprises a 26-storey block with 260 rooms. Then, the next big break came when ZLG undertook the design work for Avenue K located in Kuala Lumpur featuring 19 different types of apartment layouts in this tower, each with views of the city centre. Being close to Huat Lim’s heart is the Point92 aka Menara OBYU located in Damansara Perdana, Petaling Jaya being the winner of Fiabci Malaysia office category award, gold medal of PAM Award, AAA Award, and best of the best of Germany Iconic Award, was designed with low mass density specifications and in compliance to the Green Building Index (GBI) and MSC Status. Huat Lim believes that people centric concepts expresses and recognises the importance of public realm and services for the community. Designers tends to emphasise on building design and expression at the expense of comfort and spatial experience nevertheless to have a good visual engagement is acceptable but not to overwhelm and compromise on the humanity and social benefits.
was a challenge when ZLG had 20 staff, then he decided to downsize to eight now. Primarily, concentrating on niche clienteles who have similar mindsets to maintain the quality of workmanship and design is more vital and easier to control or reduce damage and mistakes. “We follow the standard protocol in the office which we embed into our culture, we cross check with each other and we review our work with the clients and we listen. We also invite criticisms and we ask contractors to suggest ways to build the projects,” adds Lim. Nevertheless, Huat Lim describes excursions with team members, group discussions and presentations with occasional trips to the Malaysian Philharmonic Orchestra in KLCC which tones down the pitfalls and tribulations at work too. Huat Lim fondly shares his memory of winning the imminent international recognition where ZLG won the special recognition award for Boh Visitor Centre in 2014, the Barbara Cappochin Prize. This International Biennale Barbara Cappochin Foundation Award for Architecture and Construction Elements Prize, endorsed by the International Union of Architects (UIA) which recognizes architectural work in the evolution which was held in Padua, Italy. Currently, ZLG working on their Phase Two of the Boh Visitor Centre in Cameron Highlands project to facilitate a wider capacity dining and lounge area and undertaking 420 houses in Senawang which are still in the designing stage.
PHILOSOPHY IN ZLG
“The challenges occur when we had to let go of good ideas to meet the clients’ budgets or their expectations which sometimes go against the will of the project,” shares Huat Lim. Despite resolving then via dialogues and patiently guiding the team towards awareness and embracing the fundamentals, he knows that clients’ want the best margins, so this is one of our major drawbacks as it means high density and lowering specifications to reduce costs. Lim also added that staff retention
“We treat everyone as assets. We put people first. We see everyone as a family in the company and we try best to reward them by giving them responsibilities beyond their expectations. We also invite steep learning curves, we encourage involvement at all levels of the project including client liaison,” affirms Huat Lim. Huat Lim accumulates his wisdom in managing and motivating himself by delving into books like Bhagavad Gita for its apt guidance and roadmaps
enlightened by mentors who always does things with purposes like Norman Foster, Yogananda Paramahamsa, Walt Whitman to name a few. “I would say success is when you are able to provide happiness to the customer. We are mostly gratified (and therefore successful) when our clients’ can return to us for advice and provide us with more projects,” says Huat Lim on defining success.
Huat Lim says he wants the team to experience spiritual growth and render deeper academic work to enrich the design profession while increasing the awareness and social responsibility too. He has also indulged in preparing a manuscript which encompasses three volumes concentrating on Ethos, Psyche and Nouvena which talks about the people, places and the processes involved to make dreams and ideas. This book written to create circumstances and aspirations of an architect, the biographical values which can be classified as philosophical references and inspire the younger people, the sketches rejected due to budget constraints, and people who have inspired them are brought alive in the book.
“Invest outside the city centre and decentralise, and then embrace simplicity and minimalism, reduce clutter and dispose of stuff you don’t need. Break into the more developed city centre when you can afford the higher costs, as most projects in these parts of the city are luxury products which we din’t deem to be of any value to investors,” opines Huat Lim for the first time home buyers. Though, having more supply than demand whereby the market was driven by sentiments and blown out of proportions. Now in surplus and the project scale gone wrong it would be fairer for some group to dwell in medium cost houses which adds greater values.
December 2017 I 31
32 I December 2017
PROPERTY INVESTMENT Property 1 Location
PJ Section 13
RM 700,000 â€“ RM 800,000
Property 2 Location
2-storey landed house
RM 650,000 onwards
December 2017 I 33
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Less Competition COMPETITION IN MARKET
Perfect Monopolistic Competition Competition
MARKET ENTRY BARRIER EASY 36 I December 2017
Supply-Demand Cycle Dema
We are HERE!
Demand Trigger Cycle
Supply Booming Cycle
Price Corrective Cycle
Price Corrective Cycle
December 2017 I 37
SIDELINE ON PROPERTY NEWS
BREAKTHROUGH FOR BATTERSEA POWER STATION The Northern Line Extension has reached a major milestone with the completion of tunnelling work. • Tunnelling work completed as boring machines break through at Kennington • Two 3.2km tunnels have been created from Battersea to Kennington, via Nine Elms • Northern Line Extension will support around 25,000 new jobs and more than 20,000 new homes
IJM INVESTS RM500 MILLION IN PRIME OFFICE TOWER IN TRX IJM Corporation Bhd is developing an office tower at the upcoming international financial district - Tun Razak Exchange (TRX). IJM will acquire 100% equity of Fairview Valley Sdn Bhd (FVSB), a subsidiary of TRX City Sdn Bhd. TRX City is the master developer of TRX. •
The Grade A, LEED Gold-certifed office building, built over a land area of 1.18 acres with a gross floor area of about 560,000 sq ft, will be Prudential’s new Malaysian headquarters. It will house all of Prudential’s life insurance and asset management businesses under one roof. Currently under construction, the building is slated for completion in December 2018, and has already secured tenants for 84% of its net lettable area.
KUANTAN PORT INKS LAND SUBLEASE AND TERMINALLING AGREEMENTS
Kuantan Port Consortium Sdn Bhd, a subsidiary of IJM Corporation Berhad, and NewOcean Energy (Malaysia) Sdn Bhd (NewOcean), a fast-growing energy supplier in the Southern China region recently signed land sublease and terminalling agreements for the devlopment of NewOcean’s oil refinery complex at Kuantan Port.
E&O 1H REVENUE AND PROFITS ON THE RISE
• • • • •
Under the agreements, NewOcean is expected to develop, build, own and operate the oil refinery complex The project which is estimated to cost approximately RM 5.1 billion comprises an oil refinery which has an annual production capacity of 3.5 million tonnes Developed over two phases, the project’s first phase is expected to be completed within 24 months and will yield 1.5 million tonnes annually. An additional 2 million tonnes of annual production is projected for the second phase which will take 18 months to be completed. The agreement is pursuant to an MoU signed by Kuantan Port, NewOcean and East Coast Economic Region Development Council (ECERDC) which was witnessed by Prime Minister Datuk Seri Najib Tun Razak in August 2017. At the MoU signing ceremony, ECERDC announced a total of RM9.9 billion new investments in the east coast region, of which the NewOcean oil refinery agreement was the largest.
38 I December 2017
Eastern & Oriental Berhad’s financial results for the first six months of its 2017-2018 fiscal year reported a year-on-year (y-o-y) increase in profit and revenue. • • •
Revenue for the 6-month period ended September 30, 2017 stood at RM369.3 million, up 52.2% from the same period a year ago. The Group’s pre-tax profit was at RM67.1 million, representing a 291.8% surge y-o-y. The property segment recorded an operating profit of RM103.7 million for the first half ended 30 September 2017, doubling of RM51.8 million achieved in the same period 12 months ago The Group has successfully pared down its gearing position to 0.59 times to date as compared to 0.73 times at the end of financial year 2017.
About The Contributor
THINK DIFFERENTLY. SUCCESS IS OVERRATED. EMBRACE FAILURE INSTEAD
Mark Chua is the bestselling author of the book “WHO SAYS”. He was a former Senior Vice President of a bank. He is living proof that one can be successful in one’s career and property investments. He can be reached at email@example.com or www. facebook.com/MarkChuaMY
I was just reflecting. We all love heroes. We all love success stories. But, studying a success story isn’t quite as fruitful as understanding what causes failure to occur. After all, a success is already an opportunity that has been exploited by someone else. So, why bother studying it? Now, I’m sure a lesson or two could be gained from inspirational success stories. Sometimes, we need that much-needed motivational push. I’ve been guilty of this on occasion. It’s a known fact spanning centuries, that learning from mistakes is more effective. As such, I would like to share a recent failure I encountered as a Landlord. I could be wrong. We tend to focus on buying properties but we may not really upgrade our skills to MANAGE our properties well. Having sustainable rentals enable us to have HOLDING POWER. This then allows our properties to appreciate over time in order to set us free from financial restrictions.
MY RECENT FAILURE •
Recently, my small studio apartment
in Taman Desa in Kuala Lumpur became vacant and so was up for rental. I depended on one agent, Jessica (fake name of course) for the longest time. She is a veteran agent who has been renting out my unit successfully for about 13 years. My mistake however was depending exclusively on Jessica, and assuming that she would continue giving me the same robust and excellent service. As always, I gave her the exclusive right to rent out my apartment. Unfortunately, people change sometimes. I sensed Jessica took our professional relationship for granted. She did not really focus on marketing my unit and it was vacant for nearly two months! Normally, my unit would have be rented out in one month or less. I had enough of this and decided to take matters into my own hands. My wife Lauren and I upgraded our 13-year-old apartment with a simple RM500 decoration budget and changed two brand new airconditioners worth RM1,600. We spent a modest RM2,100 to upgrade a 13-year-old unit. Mind you, our first upgrade in 13 years!
Again, there was no fantastic nor bombastic interior design. Just soemthing pleasant, simple and practical. Imagine - we have been using the SAME furniture we inherited since we bought the property 13 years ago! I then filtered, met and appointed two aggressive agents to rent out my unit last Sunday. They immediately called their prospects and secured two viewings on the SAME DAY itself. Thankfully, I managed to get a Polish expatriate to rent my unit on the SAME DAY itself. Direct translation we got the unit rented out in ONE DAY.
MORAL OF THE STORY? •
Sometimes, there is no mindblowing or key critical insights on failures. That’s what makes success stories so much more seductive than failures. In all humility, failures normally happen for the most mundane of reasons – complacency, poor communication, personal problems or a lack of common sense. My personal failure? I got arrogant and complacent. I took it for granted that my portfolio will always run on an “auto-pilot” basis, and my systems were full-proof. I’m glad I had a good helping of humble pie. Someone wiser than me once told me, “The Road to success is paved with failures well handled.” December 2017 I 39
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GREENERY WITHIN THE CITY
SPNB ASPIRASI SDN BHD
(490479-v) MILIK PENUH SYARIKAT PERUMAHAN NEGARA BERHAD _SPNB)
016 321 9033 017 779 1688
NO. Lesen Pemajuan Perumahan: 14153-1/11/2017/ (0934(L) | No Permit Iklan dan Jualan: 14153-1/11/2017/0984(P) | Tempoh Sah: 05/11/2015-04/11/2017 | Tarikh Dijangka Siap: Mei 2019 | Hak Milik Tanah: Pegangan Bebas | Gadaian Tanah: Tiada | Pelan Bangunan Diluluskan Oleh: Majlis Perbandaran Sepang | No. Rujukan Pelan Bangunan: MP Sepang 600-34/2/71(12) | Jumlah Unit dan Harga: Pangsapuri (1,168 Unit) MIN: RM395,460.00 MAKS: RM958,247.00