So far I know of a few condo projects that are launched and aborted, as condos are more complicated and expensive to build. Landed property developers play smarter by launching clusters of rows to contain the risks. Recently TOP projects (both condos and landed) suffer from poor QC (e.g. hollow tiles and no water proofing), as the inflation and manpower issues already hit the contractors in 2013. Developers could face LAD losses if the contractors slow down or go bankrupt. For those buying property now, it is really a matter of luck but sticking to more cash-rich and more established developers is a better bet. RM is now back to 3.03 to 1.00 SGD.
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Economic News
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So far I know of a few condo projects that are launched and aborted, as condos are more complicated and expensive to build. Landed property developers play smarter by launching clusters of rows to contain the risks. Recently TOP projects (both condos and landed) suffer from poor QC (e.g. hollow tiles and no water proofing), as the inflation and manpower issues already hit the contractors in 2013. Developers could face LAD losses if the contractors slow down or go bankrupt. For those buying property now, it is really a matter of luck but sticking to more cash-rich and more established developers is a better bet. RM is now back to 3.03 to 1.00 SGD.
Besides losing in Genting Highland, I know of too many Singaporean who lost big time in failed property project as there are really no recourse when it comes to such situation. Many just bought into the developers' enticing advertisement on yield%, ROI, etc without considering the real risk involved. I see more hardship going forward. Got to track with both eyes wide open.
Malaysia's RHB says it offers voluntary exit scheme to employees
RHB Banking Group, Malaysia's fourth-biggest bank by assets, said on Wednesday it is offering a voluntary exit option to all permanent employees in Malaysia, in a bid to improve productivity.
The offer is valid from Wednesday and will close on Sept 23, 2015, RHB said in a statement to Reuters.
A slowing economy and a weakening currency are squeezing profits at Malaysian banks, reducing loans and consumer spending.
Fitch Ratings said there was a risk Malaysia's credit rating could be downgraded should the Southeast Asia nation's currency and economy continue to deteriorate.
Although it is not known how many of the 18,000 employees are expected to go, but the recent similar exercise by CIMB had resulted with 3,600 opted for voluntary redundancy, so something similar should be expected.
http://www.straitstimes.com/business/malaysias-rhb-says-it-offers-voluntary-exit-scheme-to-employees
RHB Banking Group, Malaysia's fourth-biggest bank by assets, said on Wednesday it is offering a voluntary exit option to all permanent employees in Malaysia, in a bid to improve productivity.
The offer is valid from Wednesday and will close on Sept 23, 2015, RHB said in a statement to Reuters.
A slowing economy and a weakening currency are squeezing profits at Malaysian banks, reducing loans and consumer spending.
Fitch Ratings said there was a risk Malaysia's credit rating could be downgraded should the Southeast Asia nation's currency and economy continue to deteriorate.
Although it is not known how many of the 18,000 employees are expected to go, but the recent similar exercise by CIMB had resulted with 3,600 opted for voluntary redundancy, so something similar should be expected.
http://www.straitstimes.com/business/malaysias-rhb-says-it-offers-voluntary-exit-scheme-to-employees
Malaysia's Najib delivers $4.6 bln boost for stock market
The Malaysian government will inject RM20 billion ($4.6 billion) into a state investment firm to shore up the stock market by investing in undervalued Malaysian companies.
So, the government is jumping into the stock market, hopefully to "pump up" the declining stock prices.
But the RM20 billion injection is just short of the RM23 billion net outflow of foreign funds since the beginning of 2014 with the bulk of it - RM16 billion - exited in the first eight months of this year.
The result of this market intervention by the government to improve the stock market and arrest the decline of the RM is yet to be seen.
This is a RM20 billion gamble and if this effort fail to lift the market substantially and the RM stubbornly refuse to recover, then it will be another RM20 billion thrown into the deep blue sea.
http://www.reuters.com/article/2015/09/14/malaysia-economy-idUSL4N11K20T20150914
The Malaysian government will inject RM20 billion ($4.6 billion) into a state investment firm to shore up the stock market by investing in undervalued Malaysian companies.
So, the government is jumping into the stock market, hopefully to "pump up" the declining stock prices.
But the RM20 billion injection is just short of the RM23 billion net outflow of foreign funds since the beginning of 2014 with the bulk of it - RM16 billion - exited in the first eight months of this year.
The result of this market intervention by the government to improve the stock market and arrest the decline of the RM is yet to be seen.
This is a RM20 billion gamble and if this effort fail to lift the market substantially and the RM stubbornly refuse to recover, then it will be another RM20 billion thrown into the deep blue sea.
http://www.reuters.com/article/2015/09/14/malaysia-economy-idUSL4N11K20T20150914
This is a natural reaction when you know that someone is going in on a buying spree with RM20 billion.
Punters will grab the first opportunity to take stock.
Later in the week you'll see profit taking and then the whole cycle...........just see how this game played out and the sustainability, RM20 billion is not a lot of money to play the market.
But most importantly, its whether they are able to bring back the foreign funds, which is also their main concern and also will this exercise reverse the RM's plunge.
Why all this talk about money? Don't you people know that Sep 16 may be a day of reckoning in Malaysia with widespread calls of violence against the Chinese? Take care sinkies and hope that all goes well, or else stop thinking and talking of investing in Malaysia if things go South.
Actually you can quit your job as a SG property agent too, should a full scale racial riot break out in MYR. Hard truths.
I am not a property agent but a property investor in the business of investing in properties in first world countries like UK, Australia and Singapore, having a real estate license certainly has helped in net working and getting the best deals, anyway take care for making such a stupid comment, I wish you well in Malaysia, cheers
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Some Singaporean owner sold a condo in KLCC area last month to a local Chinese from Penang.
Asking price was RM 1.65m. Buyer told the seller RM 1.4m. Cheque is ready. Take it or leave it.
Singaporean seller agreed to sell. Penang buyer ask agent to rent it out. Simple reason is foreign investor in Malaysia is worried about stability and forex.
Local Malaysian know what is on the ground. Serious players do not take bank loans. They have plenty of cash waiting on the sidelines.
Yep wise move by the Singaporean seller, AUD now on par with SGD, take the money and look for opportunities elsewhere. Small players with shallow pockets should not invest in Malaysia.
Dunno why people want to invest in residential projects in JB, shit load of nice condos can be rented for RM2,500 per month, pick and chose, once nicer and newer ones come out just move on, unlike owner, no baggage to hold. Also want weekend home? Just check in the numerous hotels in JB, only $100 per night, cheap and good, why need to go to a house and spend half the weekend cleaning?
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So nice of u to drop by this forum despite your international portfolio in AUD, UK and SG. You have really shown a lot of care and concern for your fellow Singaporeans investing in MYR in spite of your busy schedule. Cheers too!
Why I buy in JB?
When I buy SKY88 RM790 psf. Now is RM1450.
Exchange rate lost is my gain, as I only paid 30% at SGD/RM 2.50 and balance will be paid at the rate of SGD/RM 3.02.
Only idiots spend time cleaning their own condo; I will engage in cleaners to clean once a week.
About those RM100 hotel........ only Double Tree can compare to some of the condos I own. It is RM400 over night. (weekdays only)
When you rent hotel you only rent a room, how do you compare to the 2200 sq ft condo I own in Astaka??
When I buy SKY88 RM790 psf. Now is RM1450.
Exchange rate lost is my gain, as I only paid 30% at SGD/RM 2.50 and balance will be paid at the rate of SGD/RM 3.02.
Only idiots spend time cleaning their own condo; I will engage in cleaners to clean once a week.
About those RM100 hotel........ only Double Tree can compare to some of the condos I own. It is RM400 over night. (weekdays only)
When you rent hotel you only rent a room, how do you compare to the 2200 sq ft condo I own in Astaka??
Australia is not a good place to invest now. Why?
1. AUD is on a deliberate path to a weaker currency in future. Mining industry is down. Economy doesn't look good.
2. FIC discourage easy exit plans as resale only for Australians. Foreigners can only buy or build new.
3. Sydney is way too expensive. Besides, most Australians are not rich enough to buy big units, hence it is tough for resale.
4. Brisbane is hotter than Singapore. Melbourne touted best city living in the world is also the most boring one. Perth? Where's that?
Hotels are hotels. It is still a room which does not belong to you. It doesn't have any souls.
If $100 a night is the budget, it speaks volumes of oneself.
Much obliged, I am always looking at many property investment forums and MY is just one of them, I am quite free really, as my OZ and SG investments are watched for me. Having lots of time to spare is why I chose property investment.
Australia is not a good place to invest now. Why?
1. AUD is on a deliberate path to a weaker currency in future. Mining industry is down. Economy doesn't look good.
2. FIC discourage easy exit plans as resale only for Australians. Foreigners can only buy or build new.
3. Sydney is way too expensive. Besides, most Australians are not rich enough to buy big units, hence it is tough for resale.
4. Brisbane is hotter than Singapore. Melbourne touted best city living in the world is also the most boring one. Perth? Where's that?
Hotels are hotels. It is still a room which does not belong to you. It doesn't have any souls.
If $100 a night is the budget, it speaks volumes of oneself.
Different strokes for different folks, I pay for property in cash so I look for long term stability and how'd you guess? My focus is on Melbourne, best city living in the world, boring? I guess you find having dry mee pok at a hawker's centre in Singapore as most exciting right?
Anyway part of my family are OZ citizens so no need you to teach me on investment rules there, been there, done that since '87.
$100 a night is not my budget, it is the budget for people who only have enough money to invest in JB, so it does not speak for me.
Engage cleaners? Many have been cleaned out too, anyway what makes you think I do my own cleaning? I am referring to the cheapskates who I know own JB properties. Did I say RM 100 Hotels? Open your bloody eyes, I said $100 sgd which is about RM 300, your RM 400 a night is only $35 dollars more nia lol, so don't talk like a bloody fool who thinks he is Bill Gates and think your RM 400 is like king, pui! Everyone laughing lah.
You must be very cash rich to pay in cash in Melbourne. Is that a lot of money?
Some Singaporeans and Malaysians are very poor people too, cannot afford to invest in Melbourne.
But they prefer PCL. I suppose you also had invested there too.
If you know how to play the game, property is easy and depends on your appetite for risk, all my properties are fully paid up and appreciating, so when a good opportunity comes, sell off and take profit and move to another one, so you will always have cash and pay in full.
Case in point, I have 99 year lease factory in my stable now, performance not so good, estimate value $800k, still on lease, but tenant only renew one year after a good 10 year run, once the tenant gives up the lease, I will put up for rent / sale, if can rent, continue to rent, if buyer comes first then sell, take the $800k and put into another property.
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