Living in JB 3 (Johore)

[Valdez]

PUBLISHED SEPTEMBER 20, 2012
Raffles Edu buys Iskandar site
Land will be used to house Raffles American School
BYANDREA SOH

Raffles American School: The proposed permanent campus will have 300,000 square feet of built-up space for 2,000 students - PHOTO:*RAFFLES EDUCATION CORPORATION
SINGAPORE-listed Raffles Education Corporation has inked a deal with Iskandar Investment Bhd to buy a land plot for Raffles American School (RAS) - its first foray into pre-tertiary education.
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The company will pay about RM75 million (S$30 million) for the 18.5-hectare land in EduCity, in Iskandar Malaysia's Nusajaya area.
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Iskandar Investment Bhd is the commercial arm of the Malaysian government that has been formed to spearhead the development and transformation of Iskandar Malaysia.
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The proposed permanent campus, designed by the New York architectural firm of Skidmore, Owings & Merrill, will have 300,000 square feet of built-up space for 2,000 students.
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Facilities in the school compound will include an indoor athletic complex, a performing arts centre housing a black box theatre and a 800-seat traditional performing arts theatre, and a library and media centre. Outdoor facilities at the campus comprise two swimming pools, three tennis courts, a soccer field, a basketball court and a 400-metre track.
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Construction will be done in two phases. Phase one is targeted to be completed in the 2014-15 school year, after which RAS will be able to hold classes for Kindergarten through Grade 12 and also have full boarding capacity.
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RAS offers an American curriculum from kindergarten through to Grade 12, or the equivalent of the second year of junior college in Singapore. Its curriculum is jointly developed with International Schools Services. The school prepares students for admission to US and Western universities, and is accredited by the Western Association of Schools and Colleges, USA, the company said in its announcement.
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RAS started classes for Grades 1 through 8 last month at a temporary campus in Anjung Neighbourhood Centre in Nusajaya.
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Besides RAS, Raffles Education Corp had earlier invested RM200 million in Raffles University Iskandar in the same EduCity.
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The university that was launched last month offers courses in design and art, business, education and infocomm technology.
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Classes for the university are currently conducted at a temporary location at Menara Kotaraya in Johor Bahru while a 26.3-hectare campus is being built, set for completion in 2014.
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Another Singapore venture at the EduCity@Iskandar is Management Development Institute of Singapore. It is investing RM300 million in a 12.1-hectare Malaysian site.
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[etstan]

Is this the 24 hrs clinic?

Polyclinic My Family & Surgery
家家诊疗所
22， Jalan Indah 8/15, Taman Bukit Indah, 81200 Johor Bahru
Tel: 07-2366663

[wuqi256]

Hi bro wuqi, this is a very useful guideline.
Do you know other than "salary", what other ways can boost your loan margin?
eg fixed asset, equity, rental income?

Just to share a bit of my experience when purchasing paragon.
I heard public bank can give loan margin of 90%
HSBC and Maybank quote me 80%
OCBC quote me 70%.

So my conclusion is that I have is that banks in Malaysia have their own unique standard to do their client credit assessment....
Moral of the story. Apply to multiple banks!!

Hi Buta, stocks, rental income and bank statements plus CBS report (for those trying 85% and above), yes all these will help.

Best to always apply to at least 3-4 banks. Some banks are easier, some harder. I won't want to waste my time with certain banks as they are extremely risk adverse when it comes to lending to foreigners, unless you have a spouse who is local in which case, borrowing from local banks suddenly become much easier.

[wuqi256]

Hi Buta, a bit strange though, HSBC normally gives a higher loan quantum, my friends all got 90% if i am not wrong.

[wuqi256]

Yes, i think it is, thanks for sharing this.

Is this the 24 hrs clinic?

Polyclinic My Family & Surgery
家家诊疗所
22， Jalan Indah 8/15, Taman Bukit Indah, 81200 Johor Bahru
Tel: 07-2366663

[wuqi256]

Sample of a recent transaction, courtesy of Mr Joseph.

Property Details : Double Storey Terrace House ( 4 rooms and 3 bath rooms)
Land Area : 35 X 80 Sq.Ft
Facility : 24 hours gated and guard
~ Purchase Price: RM 1,230,000-00
~ Property Maket Value : RM 1,200,000-00
~ Initial Deposit: RM 24,600-00 (2% of the selling price)
~ Available loan approve (Subject to customer document) : RM 960,000-00
~ Balance deposit: RM 98,400-00

What fee should I paid beside Deposit
~ Agent fee: RM 12,300-00 (1% of the selling price or RM 2,000 whichever is higher)
~ Lawyer fee, Stamp duty, Disbursement fee on:-
1) Sales purchase Agreement: RM 35,000 (Estimate)
2) Loan Agreement: RM 35,000 (Estimate, bank allow to finance loan agreement fee & subject to bank documentation fee)
3) State of Johor consent : RM 13,000
~ Valuation fee (All of the bank request to conduct): Not more than RM 2,000-00
Total need cash out : RM 319,300+-
Bank Loan Document request
Loan document is required for Employed:
1) I/C / Passport
2) Employment letter
3) Latest Pay Slip for past 3 months
4) Latest 3 months Bank Statement(Monthly salary credit to bank)
5) Latest Income Tax with tax receipt
6) Other bank saving account / Fixed deposit
7) Tenancy Agreement (if any)
8) Work Permit or PR Singapore

Loan document is required for self-employed/Partnership:
1) I/C
2) Certificate Business Registration
3) Partnership agreement (if any)
4) Certificate of Patrice for professional(if any)
5) Business Permit/License (if any)
6) Business Profile
7) Latest 6 months company Bank Statement
8) Latest 6 months personal Bank Statement
9) Income Tax for past 2 years with tax receipt
10) Other bank saving account / Fixed deposit
11) Latest Management Account profit and loss account
12 ) Tenancy Agreement (if any
Loan document is required for Private and Public Limited Company:
1) I/C
2) Certified of true copy of Certificate of Incorporation
3) Certified of true copy of Memorandum & Articles of Association
4) Certified of true copy of latest Form 24, 44 & 49
5) Business Permit/License (if any)
6) Business Profile
7) Latest 6 months company Bank Statement
8) Income Tax for past 2 years with tax receipt
9) Other bank saving account / Fixed deposit
10) Tenancy Agreement (if any)

~ Estimate Monthly installment based on loan amount RM 960,000 = RM 4,695.00
* If Purchaser confirm the unit, need to paid 2% Deposit to the owner, after that proceed with loan application.
* Once loan approve, Property Agent will arrange purchase and owner sign Sales & Purchase agreement, Letter of Offer from Bank and Loan Agreement at Lawyer firm.
* Purchase need to balance differential amount to lawyer firm , and paid Lawyer fee,Stamp Duty & Disbursement fee on Sales & Purchase Agreement and Loan Agreement, Agent fee upon sign Agreement.
* One month later, Bank's Valuer will call purchase to paid valuation fee.
* 3 to 4 months later (Upon sign Agreement date) bank will release amount to owner.
* Owner will pass house keys to lawyer firm, Lawyer will call Purchase collect house keys.

* Please note that state consent may delay the processing especially when buying as foreigner/Singaporean.

[wuqi256]

Kelvin Chee and Jeff Yap. Both of them are solely responsible for jacking up the property prices in Nusajaya. Suddenly Nusa
My advice is, avoid this Kelvin Chee and Jeff Yap. As you can see I did not advertise my agency name here openly as I do not want forummers to say that I am jealous of their success.

Do you have any specific examples to illustrate or someone who has to dealt with them before can confirm to be fair to them.
I did hear of something in the past but through a third party.

[jasonjst]

Sample of a recent transaction:

Property Details : Double Storey Terrace House ( 4 rooms and 3 bath rooms)
Land Area : 35 X 80 Sq.Ft
Facility : 24 hours gated and guard
~ Purchase Price: RM 1,230,000-00
~ Property Maket Value : RM 1,200,000-00
~ Initial Deposit: RM 24,600-00 (2% of the selling price)
~ Available loan approve (Subject to customer document) : RM 960,000-00
~ Balance deposit: RM 98,400-00

What fee should I paid beside Deposit
~ Agent fee: RM 12,300-00 (1% of the selling price or RM 2,000 whichever is higher)
~ Lawyer fee, Stamp duty, Disbursement fee on:-
1) Sales purchase Agreement: RM 35,000 (Estimate)
2) Loan Agreement: RM 35,000 (Estimate, bank allow to finance loan agreement fee & subject to bank documentation fee)
3) State of Johor consent : RM 13,000
.....
.....
* Please note that state consent may delay the processing especially when buying as foreigner/Singaporean.

Hi Bro , how come state consent is RM13,000 and not RM10,000 ? Price up already ?

[Investor]

LEGO MANIA: After months of feverish anticipation, LEGOLAND Malaysia finally opens its doors to the paying public

Read more: COVER STORY: LEGOLAND frenzy boosts JB tourism - RED - New Straits Times http://www.nst.com.my/red/cover-stor...#ixzz271AYJkP6

Judging by the steady stream of crowd lining up for tickets during opening day, Iskandar Malaysia seems to have a genuine hit on their hands with this world-class theme park. A reported 10,000 visitors thronged LEGOLAND’s opening. Already, the “LEGOLAND effect” is being felt in Johor Bahru’s tourism industry. Hotels in and around JB were filled to the brim leading up to LEGOLAND’s opening weekend.

“Over the past 2–3 years, things have definitely picked up in JB. Developments in Iskandar Malaysia has revived tourists’ interest in Johor,” says Dev Singh, General Manager of M Suites Hotel in JB. “In the past, many Singaporeans would bypass JB and go to Malacca or Kuala Lumpur instead for their weekend shopping or leisure activities. Now, with the opening of LEGOLAND, tourists are excited to visit JB again. You can see that now with many hotels in JB doing good business and reporting high occupancy rates.”

With other theme parks planned to open in the future, Iskandar Malaysia is already being dubbed Asia’s version of Orlando, Florida, which is home to famous Walt Disney World Resort. Orlando was gradually transformed from a slowly developing metropolitan area to one of the most popular vacation destinations in the world.

“We believe in the long-term potential of Iskandar Malaysia, not just in the Malaysian market but the entire region including Singapore, Indonesia, Hong Kong and China. That’s why we see ourselves developing as a regional entertainment hub, similar to Orlando,” says Siegfried Boerst, General Manager of LEGOLAND Malaysia.

Asked whether he is concerned about launching LEGOLAND Malaysia amidst uncertain economic conditions and consumers tightening their spending, Siegfried remains upbeat. “We believe in the strength of the LEGO brand, its popularity with children and we will leverage that in the theme park as well. Families will always prioritise spending quality time with their children and LEGOLAND offers a unique experience. LEGOLAND Malaysia is the only theme park specifically designed for families with children between the ages of two and 12,” Sigfried adds.

LEGOLAND Malaysia is a full-day family theme park that features more than 40 interactive rides, shows and attractions. Another unique highlight at the centre of the park is Miniland, with models of major Asian landmarks such as the Petronas Twin Towers, Kuala Lumpur International Airport (KLIA), Taj Mahal and Angkor Wat recreated in painstaking detail using LEGO bricks.

LEGOLAND is expecting visitors from three main target groups — the resident market in Johor and Singapore, domestic tourists in Malaysia and international tourists. LEGOLAND Water Park will open in the second half of 2013, followed by the LEGOLAND Hotel Park in 2014.
The grand opening of LEGOLAND Malaysia is tomorrow, with the Prime Minister Datuk Seri Najib Tun Razak, Sultan of Johor Sultan Ibrahim Sultan Iskandar, Chief Minister of Johor Datuk Haji Abdul Ghani Othman and other dignitaries expected to grace the ceremony.

[wuqi256]

I wish everyone here well and a long life ahead of you.

[wuqi256]

Hi Bro , how come state consent is RM13,000 and not RM10,000 ? Price up already ?

It's because it's calculated as a percentage for houses and differs for houses priced at different levels. I will defer to more learned bros here.

[Mingchye]

People, the agency under MOF (Ministry of Finance) looking after Valuers, Appraisers and Real estate agents -> http://www.lppeh.gov.my/function.html

•To regulate the professional Conduct/Ethics of Valuers, Appraisers and Estate Agents.


The cases mentioned definitely look like something under their purview.

[wuqi256]

For folks who have something to report, there are some Q&A from experts already covering this:
http://www.iproperty.com.my/iexpert/...n.aspx?ID=1775

[butadesu]

Hi Buta, a bit strange though, HSBC normally gives a higher loan quantum, my friends all got 90% if i am not wrong.

Hi Wuqi,

I believe banks in MY are tightening.
I was applying OCBC for loan. Initially they they promised 80% margin but later they told me KL just had a new rule saying they only provide 70% for all Singaporeans for PR project. I asked them if it was due to my credit but they say no, it is new rule for all Singaporeans.

I heard some stories about difficulty in getting loan for sky88 on another forum. Not sure if it is true.

[Stevewish]

Hi Wuqi,

I believe banks in MY are tightening.
I was applying OCBC for loan. Initially they they promised 80% margin but later they told me KL just had a new rule saying they only provide 70% for all Singaporeans for PR project. I asked them if it was due to my credit but they say no, it is new rule for all Singaporeans.

I heard some stories about difficulty in getting loan for sky88 on another forum. Not sure if it is true.

Heard that Banks are tightening due to bad log in paying installments including car loan.

Apply as many bank loan to see which one has better offer. BTW their packages are quite similar.

Try Hong Leong bank, got over 8X% loan but ask them to lower to 80%. Application was in late Jul this year.

[Stevewish]

Sounds promising! I have found the following international schools in my google "research" although I have yet to visit any. Perhaps early next year as I aim to admit my youngest child in 2014. Although I have a preference for IB, my decision will also be based on staff and facilities of the school.

Fairview International Kompleks Mutiara Johor Land, Jln Bukit Mutiara, Bandar Dato' Onn, 88100 JB Tel: +607-358 5385
Utama International JB Jln Beringin, Melodies Garden, 80250 JB Tel: +607-334-7714, +607-334-7715
Austin Heights International No.2, Jalan Austin Heights 3/1, Taman Mount Austin, 81100 JB Tel:*+607-351 5000/ 351 3000/ 351 3003
Marlborough College Marlborough College Malaysia, PTD 100804, 79000 Nusajaya, Johor Bahru

refer to this http://www.tenby.edu.my/v2/setiaecogardens/aboutus. It 's a newly built, enrollment has started.

Address: Tenby International School, Setia Eco Gardens
For more information, please contact:
(Setia Eco Gardens Sales Office)
Pejabat Tapak, Lot 2110,
K.M 5.5, Jalan Gelang Patah-Ulu Choh,
81550 Johor Darul Takzim, Malaysia.

Telephone: +6012 5050288
Email: ecogardens@tenby.edu.my

Contact Us

The school is located in the award winning Setia Eco Gardens development just off the Malaysia-Singapore Second Link Highway (Exit 307D). Bukit Indah is a 10 minute drive away with the Tuas Second Link to Singapore a 15 minute drive away.

GPS 1.493918, 103.592082

[wuqi256]

refer to this http://www.tenby.edu.my/v2/setiaecogardens/aboutus. It 's a newly built, enrollment has started.

Address: Tenby International School, Setia Eco Gardens
For more information, please contact:
(Setia Eco Gardens Sales Office)
Pejabat Tapak, Lot 2110,
K.M 5.5, Jalan Gelang Patah-Ulu Choh,
81550 Johor Darul Takzim, Malaysia.

Telephone: +6012 5050288
Email: ecogardens@tenby.edu.my

Contact Us

The school is located in the award winning Setia Eco Gardens development just off the Malaysia-Singapore Second Link Highway (Exit 307D). Bukit Indah is a 10 minute drive away with the Tuas Second Link to Singapore a 15 minute drive away.

GPS 1.493918, 103.592082

This is a good one, in fact the school offers buyers of Setia properties a first opportunity to get in and cheaper too. Thumbs up.

[wuqi256]

Hi Wuqi,

I believe banks in MY are tightening.
I was applying OCBC for loan. Initially they they promised 80% margin but later they told me KL just had a new rule saying they only provide 70% for all Singaporeans for PR project. I asked them if it was due to my credit but they say no, it is new rule for all Singaporeans.

I heard some stories about difficulty in getting loan for sky88 on another forum. Not sure if it is true.

Hi Buta san, yes pretty true to get loans especially for certain types of houses. Not for all types though. OCBC is tightening but there are still some banks which will do better.

I think its across the board for developments right now as valuation will need to catch up with pricing as well.

[wuqi256]

Heard that Banks are tightening due to bad log in paying installments including car loan.

Apply as many bank loan to see which one has better offer. BTW their packages are quite similar.

Try Hong Leong bank, got over 8X% loan but ask them to lower to 80%. Application was in late Jul this year.

Yes, its always better to try at least 3-4 banks or more. Agree about HL, one of the easier ones.
Car loans, should just try Ambank but they seldom approve for foreigners like us though.

[Mummymoo]

This is a good one, in fact the school offers buyers of Setia properties a first opportunity to get in and cheaper too. Thumbs up.

Thank you both Stevewish and Wuqi. I'll add this to my list of schools to consider next year