QUOTE(Chris Chew @ Mar 23 2013, 10:13 PM)
Agree, RM 438 - 30k = RM 408k for a purely G&G DSTH in KV is seriously a very good deal. Not to say 20x65, 20x60 also fair, although leasehold bcz these size and price with pure G&G is rare in the market.
How the RM 30k discount going? Offset in the S&P or rebate mode?
Pay 3% booking ( 3% of 438k = RM 13,140 ) and S&P Price is RM 438,000 ?
Price after RM 30,000 discount ( part of the 10%? ) is RM 408,000 , so just pay balance 10% ( RM 43,800 - RM 30,000 - RM 13,140 ? ) upon signing S&P ( subject to 90% loan )
yes, the 30K is to offset the first 10%, the AP will be out after 4-5 months time, now 3k deposit payable to the lawyer.
QUOTE(Chris Chew @ Mar 23 2013, 10:13 PM)
Noted boss.
That's what I think too. I was surprise TMS needs to give huge discount to attracts more buyers, but it had too many projects with no landbank, thats what concerning me. Financially, it worries me too.
MS is quite aggressive, they are one of the few developers that using the Toyota's Just in time or JIT system in their business model, they use bank's loan to acquire land and usually within 6 months they will turn the land into master plan and start selling the products. For the case of MR2 they start selling without the AP. So that they can increase their revenue immediately and reduce the land holding cost, as the land cost can immediately turn into the revenue making tools.
MS is not cash rich like Tan & Tan, See Hoy Chan, or those GLC developers, whereby these developers hold the land for 20-40 years b4 they come out with master plan. They are cash rich and the land is free from encumbrances thus no holding cost, so no urge to fast hand fast legs develop it. My 2 cents