Investors have to be cautious and we do note that the people by and large are still feeling a few things:

1. job uncertainty

2. depreciating currency and the uncertainty in our bonds market (our corporates are borrowing more money than ever)

3. high household debt hence reduced purchasing power

4. higher-than-expected inflation on consumer goods

5. a sudden increase in biz costs, ie. steel prices going up by 13% due to new tax and we might need to pay EIS soon...

6. a lukewarm tourism numbers from selected wealthy countries and now we have sudden tourism tax

7. the big thing: an oversupply of properties in the secondary market (many pek ka pek ka happening in market)

8. a looming General Election hence political uncertainty

9. competitive property launches today with many choices, there are many spoilers in the market, one famous one would be AK

10. loan problem due to tightening credit or deteriorating credit profile