Free Bus Service for Petaling Jaya folks?


Project to show feasibility of using public transport in the city
by story and photos by vincent tan | The Star Metro Central | Wednesday February 12, 2014 MYT 9:25:41 AM
http://www.thestar.com.my/News/Community/2...rt-in-the-city/

IF EVERYTHING goes as planned, Petaling Jaya residents will be able to use a free bus service by the middle of this year.

The 28.2km route will start from the bus terminal in Jalan PJS 3/11 and will serve the Kampung Dato Harun KTM station, Asia Jaya LRT and Sections 14 and 16. Other areas covered include the Universiti Malaya Medical Centre (UMMC) and PJ Old Town.


Taman Jaya LRT station, one of the two stations that will form part of the route for the upcoming free bus service by MBPJ.

Petaling Jaya mayor Datin Paduka Alinah Ahmad said RM1mil had been allocated for the project under Budget 2014.

“However, the actual cost of running this service is about RM3mil. One avenue to raise funds for this project is through supplementary budget requests.

“We are exploring other means of raising funds from stakeholders along the bus route,” said Alinah.

She said the aim was to show the feasibility of using public transport to get around Petaling Jaya, especially during peak hours in the morning and evening.

“The operational hours will be from 6am to 9pm daily so that both schoolchildren and working adults can benefit from this,” the mayor said.

With 10 vehicles for this inaugural free service, Alinah envisions a five-minute frequency during peak hours and 10 minutes at off-peak.

Peak hours are from 6am to 9am and from 4.30pm onwards, although this may change based on traffic condition and feedback.

Incentives are being worked out to encourage Petaling Jaya City Council (MBPJ) employees to take public transport.

“This will free up parking spaces in PJ New Town and surrounding areas as well as reduce the number of bays needed,” said Alinah.

The bus service is intended to be free for Petaling Jaya residents, and Alinah said one way to ensure this would be through the issuance of free bus ride cards after checking ratepayers’ assessment or licence fee records.

Students in a Petaling Jaya-based school or institution will also be entitled to travel for free.

Currently, there is a free community bus service, with two vehicles that cater for senior citizens and low-income earners, running from 9.30am to 2pm.



There are 31 stops from PJS3 to PPUM and 27 on the return route.

Alinah said the service, which is a collaboration with RapidBus, a division of transport conglomerate Prasarana, would be run separately.

“The new service is similar to the GoKL free bus service in Kuala Lumpur,” she added.

The GoKL service is being subsidised by the Land Public Transport Commission (SPAD).

Alinah said she would be writing to Prasarana to provide details on the proposed bus service.

“Prasarana will then apply to SPAD for a permit for the bus service,” said Alinah.

In terms of number of passengers, the mayor hopes to achieve 20% capacity.

“We can call it a good start if 20% of the seats in each bus are filled,” she said.

Some residents approached by StarMetro said they might give the bus a try.

“I used to stay in Old Town and it would have been useful. It should benefit students and those working in the city centre,” said Low Kian Sing, who was in Menara MBPJ to pay bills.

Section 10 Residents Association chairman Ronald Danker hopes people will take advantage of the new bus service and hence reduce the number of cars on the road.

“Section 10 senior citizens will find it useful to get to the Asia Jaya LRT station,” said Danker.

PJS 2 Taman Dato Harun Residents Association chairman Shamsury Joha also hopes the new buses will reduce the number of cars on the road.

“During the morning rush hour, there are a lot of single-occupant vehicles,” he noted.

Seksyen 1B Rukun Tetangga chairman Kok Kuan Yong was concerned about how genuine Petaling Jaya residents would be identified for eligibility.

“Many people come to Petaling Jaya for work or run errands.

“Even if you use assessment records, how are you going to identify the children of houseowners?” asked Kok.

It would be better, he said, if the service was free for everyone.

Speculated before that Galeries Lafayette and Takashimaya may be coming to KL. However, it is still too early to validate any concrete plans. What we know as of now is major retailers like AEON, Parkson, IKEA, Uniqlo, H&M, TANGS and Marks & Spencer are on the lookout to increase their out-of-KL and nationwide presence. Here in Klang Valley, Isetan, Robinsons and Debenhams may open new outlets in this coming two years. In 2016, we would be expecting Central Department Store (from Thailand) to open at CentralPlaza@i-City regional mall. Source >>> https://www.facebook.com/groups/115179435202482/


Malaysia's retail sector remains attractive to major retailers
by eugene mahalingam | The StarBiz | Wednesday February 12, 2014 MYT 6:53:26 AM
http://www.thestar.com.my/Business/Busines...st-of-living-a/

PETALING JAYA: The local retail sector remains attractive as a business destination despite the rising cost of living and cautious consumer sentiment, according to industry experts and observers.

AmResearch analyst Tan Ee Zhio said Malaysia “is increasingly on the radar of major departmental and mid-to-high end international fashion retailers”.

Citing a local news report recently, Tan noted in his report yesterday that French department store Lafayette and Japan-based Takashimaya Co Ltd were looking to enter Malaysia.



“This news does not come as a surprise as many retailers have expanded in Malaysia given its growth potential due to the limited choice of fashion brands in the country and its attractiveness as a shopping destination.

“We think that the trend of international retailers seeking an entry into Malaysia will grow amid an overall slowdown in consumer spending following the Government’s subsidy rationalisation exercise.”

Since September last year, the Government had embarked on various subsidy rationalisation initiatives, including for fuel and sugar.

Malaysian Association for Shopping and High-rise Complex Management past president Richard Chan said while consumer sentiment had dwindled slightly due to the rising cost of living, however, some retailers had not experienced a drop in business activity.

“Some food and beverage retailers are still reporting steady business operations,” he said.

Chan, however, said the entrance of the new foreign retailers was not a clear indication of the local retail sector’s current wellbeing.

“Yes, we have players like Lafayette and Takashimaya announcing that they are coming into Malaysia, but it doesn’t mean that they will be opening shop tomorrow. It could take two to three years for them to start operations. By then, the economic environment would’ve already changed.”

According to Tan, there are about 100 international brands alone last year that ventured into Asia, with the majority of them originating from Europe.

“The retail scene is matured in countries like Singapore, Hong Kong and Japan compared with Malaysia, Indonesia, Philippines and Vietnam, which are seen as potential new markets by retailers,” he said.

It was also reported recently that the Klang Valley was expected to see as many as eight malls and five refurbishments, with a total estimated net lettable area of more than five million sq ft this year.

One industry observer noted that despite the cautious outlook, Malaysia remained an attractive investment destination due to the ease of doing business in the country.

“Malaysia is less stringent and more business friendly compared with a lot of neighbouring countries,” he said, adding that Malaysia had risen to sixth position in the ‘ease of doing business’ from 12th previously among 189 economies in the World Bank’s “Doing Business 2014 report, which was published late last year.

Southeast Asia's Largest Zero-Emissions Electric Bus Order Awarded to BYD
Business Wire | February 10, 2014 11:20 AM Eastern Standard Time
http://www.businesswire.com/news/home/2014...er#.UvroE9xXjcs
http://au.finance.yahoo.com/news/southeast...-162000038.html

KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Malaysia's Prasarana Transit has announced that BYD Co. Ltd. won the bid to supply 15 new battery electric transit buses. As Malaysia first, as well as Southeast Asia's largest electric bus public bidding project, BYD beat out competitors from around the world for this historic project. The 15 electric buses will be operated by Rapid KL, a Prasarana subsidiary, to be used as shuttle buses on capital of Malaysia Kuala Lumpur’s first BRT line exclusively for electric buses. As one of Malaysia's largest public transportation groups, Prasarana is responsible for the management and planning of Malaysia metro, buses and other public transportation assets. Prasarana is 100% state-owned.

“It’s a great honor for us to win the Malaysia’s first electric bus bid. Malaysia pays great attention to the sustainable development of public transport, BYD hopes to work closely with all of our partners like Prasarana to make the public transportation cleaner and quieter.”

Since last August, BYD’s 40 foot electric bus has been in trial operation in Kuala Lumpur. As a part of the trial, the bus was arranged to run on a 5.3 km - 7 station, Bus Rapid Transit (BRT) line operated by Rapid KL and the trial operation results are satisfactory and high complimented by Prasarana. According to the report, the range of the pure electric bus could be more than 400 kilometers per charge in Kuala Lumpur.

This year in January, after hosting the BYD pure electric bus trial operation launching ceremony, Mr. Datuk Seri Idris Haron, governor of the state of Malacca, drove the bus himself, and then put his thumb up and stated, “the electric bus is very comfortable and very quiet, we like this kinds of zero emissions bus." As the first all-electric bus introduced to the state of Malacca, the BYD electric bus will be operated in Bandar Hilir area for one to two months. BYD's pure electric bus had passed various local tests in Malaysia earlier.

A BYD representative said, "It’s a great honor for us to win the Malaysia’s first electric bus bid. Malaysia pays great attention to the sustainable development of public transport, BYD hopes to work closely with all of our partners like Prasarana to make the public transportation cleaner and quieter.” Actually, improving the quality of public transport has been incorporated into the national development program in Malaysia. The relative authorities think public transportation is one of the main reasons for urban air pollution, while BYD’s pure electric bus is considered to fit this reform direction.

BYD’s pure-electric bus employs many advanced technologies developed in-house by BYD’s expansive staff of more than 15,000 engineers. The advanced environmentally-friendly, Iron-Phosphate (or “Fe”) batteries, in-wheel hub motors and regenerative braking. The break-through BYD Iron-Phosphate battery is fire-safe and non-toxic: there are no caustic materials contained in the battery, no toxic electrolytes or heavy metals and can be completely recycled. The BYD electric bus delivers a host of operational and environmental benefits for public transport riders, operators and people in the community – it is very quiet and ensures a comfortable ride without vibrations, jerks or noise associated with the conventional buses and combustion engines. The bus can also drive for more than 250 km (155 miles) even in heavy city traffic on a single charge. The bus has completed more than 20 million kilometers of “in revenue service” and has been evaluated in many major cities all over the world.

About BYD

BYD Company Ltd. is one of China’s largest companies to have successfully expanded globally. Specializing in battery technologies, their green mission to “solve the whole problem” has made them industry pioneers and leaders in several High-tech sectors including High-efficiency Automobiles, Electrified Public Transportation, Environmentally-Friendly Energy Storage, Affordable Solar Power and Information Technology and Original Design Manufacturing (ODM) services.

As the world’s largest manufacturer of rechargeable batteries, their mission to create safer and more environmentally friendly battery technologies has led to the development of the BYD Iron Phosphate (or "Fe") Battery. This fire-safe, completely recyclable and incredibly long-cycle technology has become the core of their clean energy platform that has expanded into automobiles, buses, trucks, utility vehicles and energy storage facilities. BYD and all of their shareholders, including the great American Investor Warren Buffett, see these environmentally and economically forward products as the way of the future.

BYD has made a strong entrance to the North, Central and South American markets with their battery electric buses, and lineup of automobiles. Their mission lies not just in sales growth, but also in sociological integration and local job creation as they have poured incredible investments into developing offices, dealerships and manufacturing facilities in the local communities they now call home, truly a first for Chinese companies. For more information, please visit www.byd.com or www.facebook.com/bydcompany.

Over RM3,000 psf for TRX land
By Charles Yong of theedgemalaysia.com
The Edge Property | Wednesday, 12 February 2014 15:01
http://www.theedgeproperty.com/news-a-view...r-trx-land.html

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) is setting a reserve price of above RM3,000 per sq ft (psf) for its flagship Tun Razak Exchange (TRX) development, given the recent highs fetched within the central business district, a source told The Edge Financial Daily.

Assuming a sale price of RM3,000 psf and a developable area of 60% for the 70 acres (28.33ha) of prime land, TRX could be revalued at RM5.49 billion. As at March 31, 2012, the land was valued at RM1.78 billion on 1MDB’s books. The government-linked investment company bought the land from the government for RM320 million (or RM105 psf), according to media reports.

While there are already two transactions which have reached such soaring prices in Kuala Lumpur’s central business district — Singapore’s Oxley Holdings bought a Jalan Ampang plot in November at RM3,325 psf and KSK Group Bhd acquired a tract near Jalan Conlay in December at RM3,299 psf — investors who are keen to buy a plot at TRX, which is meant to be an international financial hub, would have to pay a similarly high price, if not higher.

Oxley acquired the Jalan Ampang plot before securing the necessary approvals for development. TRX plots, on the other hand, come not only with approvals, but with wide-ranging incentives such as tax breaks, allowances, cost deductions, and stamp duty exemptions.

In December, 1MDB said it was seeking investors to develop Stage 1 of TRX, consisting of a signature tower, up to five residential towers and two five-star hotels and a retail mall. It plans to continue holding equity interest in the majority of TRX’s developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower.

TRX plans to continue holding equity interest in the majority of its developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower

However, many local developers and the public have expressed concern that the state-backed mega-project would sponge off demand for offices in the surrounding area.

Asset revaluations come rather often in 1MDB, to the extent that opposition leaders have called the state investor’s profits “paper gains”.

It bought the 70 acres from the government for RM320 million (or RM105 psf), according to media reports, and had by March 2010 revalued it to RM820 million. By 2012, it revalued it again at RM1.78 billion. The company would not be financially sound if not for such revaluations as well as loan injections, says Pakatan Rakyat.

Any significant revaluation to TRX would prove a boon to the debt-laden company. Its gearing ratio as at March 31, 2012 stood at 7.24 times.

According to media reports, it used US$1 billion (RM3.49 billion then) of the proceeds to invest in a joint venture with PetroSaudi International Ltd, a privately owned oil company. The following year, it sold its 40% stake in the venture to PetroSaudi for US$1.2 billion. However, the sale was not paid for in cash but in a bullet bond expiring in 2021 with an interest rate of 8.67%. 1MDB then lent a further US$500 million to PetroSaudi in another bullet bond expiring in 2015.


This article first appeared in The Edge Financial Daily, on February 12, 2014.

So the property market will see a recovery in Q3 2014?


Property sector sees rebound
by eugene mahalingam | The StarBiz | Friday February 14, 2014 MYT 7:59:02 AM
http://www.thestar.com.my/Business/Busines...r-sees-rebound/

PETALING JAYA: The property sector could see a rebound by the second half of the year, as buyer and investor confidence is expected to improve after a brief lull, experts said.

Malaysian Institute of Estate Agents president Siva Shanker admitted that the cooling measures announced in Budget 2014 have sent the property market into “a tailspin”.

“I believe there will be some consolidation in the first and second quarters of this year, whereby the market will remain soft,” he said, adding that buyers will remain cautious in the first half of the year.

“By the third quarter, the market will find its own level. Malaysians have a short memory and activities will start picking up,” he quipped.

Siva said he expected full confidence to return to the local property market in 2015.

On whether there would be any impact to the sector once the goods and services tax (GST) is implemented in April 2015, he said: “It will depend on how the education and acclimatisation process is done. If done well, people won’t panic.”

One industry observer concurred, saying that he expected the property market to remain soft “for just a while”. “It’s a normal thing. When some policy is announced, it creates a knee-jerk reaction, causing people to adopt a wait-and-see approach. But after a while, they get used to the changes and life goes back to normal,” he said, adding that he expected the local property sector to “start picking up” by the second half of the year.

HwangDBS Vickers Research, meanwhile, said it expected the GST to have an impact on commercial properties.

“Residential properties, while exempted, may be affected by higher building material costs,” it said in a report yesterday, adding that the various cooling measures will likely be felt at least up to the first half of 2014, as “both buyers and developers turn more cautious”.

“Sales of landed properties, affordable housing and those in prime areas, nevertheless, should remain resilient, given pent-up demand.”

Among the cooling measures are a higher real property gains tax of 15% to 30% for disposals within five years and the discontinuation of the developer interest-bearing scheme.

HwangDBS said it expects property sales this year to decline by 5% to 10% due to slower volume. However, it added that property prices are likely to hold as a result of cost-push inflation.

“House price growth may moderate to 3% per annum, as rising new supply meets weaker demand.”

Predicting properties market to rebound is similar to predicting properties market to crash.

If u do not believe property market will crash nor should u believe property market will rebound.

One should prove what they believe aka put ur money where your mouth is, If u believe market will rebound come out with $$$ & buy now, if u believe market will crash hold ur $$$ & wait.

Investors should eye niche real estate
By Zatil Husna Wan Fauzi of theedgemalaysia.com
The Edge Property | Friday, 14 February 2014 15:28 Bookmark and Share
http://www.theedgeproperty.com/news-a-view...eal-estate.html

LONDON: Property investors should look into niche or non-traditional real estate in Asia-Pacific as there will be less pricing competition, says LaSalle Investment Management’s (LIM) “2014 Investment Strategy” annual report.

However, the report said such niche properties are likely to have more risk. Some potential sectors include student accommodation development in Sydney, Melbourne and Singapore; branded and boutique hotel development in key tourism hubs such as Hong Kong, Singapore or Seoul; and core space serviced apartments targeting the increasing number of expatriates in China’s tier one cities and Hong Kong.

LIM noted that in the case of serviced apartments in China and Hong Kong, it is advisable to look at refurbishment or asset upgrades instead of outright construction as the housing allowances of expats have been reduced. These can generate returns of about 4% to 6% in Hong Kong and slightly higher in China.

Student accommodation, and branded and boutique hotels will give unlevered returns between 12% and 15%. By catering to the expanding middle class seeking non-group travel, branded and boutique hotels become attractive investments.

“Demand is ... projected to grow as Asian pension, insurance and sovereign wealth funds expand their allocations to real estate. This is making core space more expensive but for certain investors, the entry price is worthwhile given the quality of the income stream.

“This demand can also make value-added strategies attractive by restoring quality income streams through active asset management,” said Paul Guest, head of research and strategy, Asia-Pacific at LIM.

“As a result, investors will increasingly seek additional returns by accepting additional risk, whether through leasing, leverage or location. This risk-taking should broaden, provided there is no additional shock ... allowing the momentum to build as economic and financial conditions improve,” he said.

LIM also offered other opportunities in the Asia-Pacific for 2014. The income return generated by built-to-suit warehouse facilities in Hong Kong, Singapore and China make them among the most attractive long-hold options. Suburban retail in Japan and Singapore too have compelling risk-adjusted returns.

“Japan is competitively priced as it is relatively capital-starved. However, Singapore’s suburban market is tough to access as buildings rarely trade except as minority stakes in newer assets. Expect unlevered returns in the range of 3% to 8% in logistics, while suburban retail offers a tighter 5% to 7% return,” it said.

For investors who look for value-added properties, core offices remain expensive as the recovery gathers pace, making a variety of refit, refurbish or lease-up strategies for secondary or edge-of-CBD space attractive across the region.

“The tactics differ by market, from riding the upswing in core rents in Singapore to leasing-up and selling into growing core demand in Japan, or repositioning secondary stock in Seoul, among others. This value-added strategy can generate returns of 9% to 14%,” it said.

Furthermore, modern logistics infrastructure remains underdeveloped across much of the region as Japan’s industrial sector is becoming institutionalised, and China remains one of the least well-provided markets in terms of modern facilities.

Both countries have abundant tenant demand for good space although from a consolidation/cost saving perspective in Japan as opposed to for expansion in China. Investors should see returns ranging from 12% to 15%. LIM also favours the provision of risk capital for residential construction in Sydney (with returns of 12% to 15%).

“We expect continued growth in investment volumes and persistent upward pressure on pricing in many markets. The most aggressive competition will be for core space, niche areas such as luxury hotels, as well as development options such as China logistics.

“In fact, with the amount of capital targeting Asian real estate, most of the traditional real estate asset categories are relatively crowded, increasing the appeal of select niche of contrarian strategies,” said Guest.


This article first appeared in The Edge Financial Daily, on February 14, 2014.

Tropicana Heights@Kajang targets younger buyers
By Haziq Hamid of theedgemalaysia.com
Friday, 14 February 2014 15:29 Bookmark and Share
http://www.theedgeproperty.com/news-a-view...ger-buyers.html

KAJANG: Tropicana Corp Bhd is targeting younger buyers in Kajang for the first phase of its Tropicana Heights@Kajang development, Fairfield Residences, which will be launched tomorrow.

Tropicana Heights@Kajang sits on 199 acres (80.53ha)of freehold land and commands a gross development value (GDV) of RM2.3 billion.

Fairfield Residences covers 25 acres and has a GDV of RM250 million. It offers 289 units of 2- and 3-storey terraced homes with built ups from 2,135 sq ft to 3,213 sq ft. Prices start from RM736,000. The highest priced unit is a corner lot unit worth RM1.4 million.

Each unit comes with free air-conditioning units in each room, a water heater, automatic gate and quality finishes that include 2x2 ft tiles.

Tropicana Heights@Kajang will be developed in eight phases over 10 years. The second phase will include cluster homes and semi-detached units. However, it is still in its infancy and no details have been finalised.

According to Pam Loh, the company’s executive director of sales and marketing, two phases will be launched each year.

“But if the market can absorb more, we will offer more,” she said.

Tropicana Heights@Kajang also features a 750m linear lake and clubhouse. Among the facilities are a swimming pool, gym, tennis court, badminton court, food and beverage outlets, and a lounge area. Tropicana Corp aims to promote outdoor activities such as cycling and jogging by allocating 15 acres to green space in the development.

“Many from Cheras and Jalan Kelang Lama have showed interest in our project,” she said.

To date, the project has received more than 11,000 registrants.

“Over the past two years, houses in Kajang have appreciated at least 20%, and some as much as 40%. So we are confident Tropicana Heights@Kajang will fetch a good appreciation value,” said Loh.

Tropicana has a number of ongoing projects, including Penang World City and 218 Macalister in Penang, and Bora@Tropicana Danga Bay in Johor, which will be launched on February 22.

It has a landbank of more than 2,200 acres with a potential GDV of RM80 billion. Its previous developments include Tropicana Golf & Country Resort and Tropicana Indah Resort Homes in Petaling Jaya, and Tropicana Danga Bay and Tropicana Danga Cove in Iskandar, Johor.


This article first appeared in The Edge Financial Daily, on February 14, 2014.

A story about MyHome scheme (lower ranked than PR1MA) for low income earners.


A place to call MyHome for low-income earners
BY SIRA HABIBU | The StarProperty | February 15, 2014 | 325 views | Topic : Property News.
http://www.starproperty.my/index.php/artic...income-earners/

PETALING JAYA: Security guard S. Gopal, who squats at his uncle’s house together with his wife and five children, now dares to dream of owning his very first home – thanks to the MyHome scheme.

Gopal, 45, said previously he had never dared to even dream of buying a house in view of the rising cost of living and escalating property prices.


Tight space: Gopal talking to his wife P.Saywegamani at his uncle’s house in Rumah Panjang Jinjang Utara. With them are their children.

“But now I see a ray of hope,” said Gopal who is staying at his uncle’s two-room house in Jinjang Utara together with his aunt.

Prime Minister Datuk Seri Najib Tun Razak had announced that the Government had set aside RM300mil for the MyHome scheme aimed at helping the poor own homes.

Gopal, who is drawing a RM1,400 monthly salary, said he would certainly apply for the scheme.

“I can withdraw my EPF (Employees Provident Fund) money to buy the house.

“Before this, I thought I would never have a chance to buy my own house because even the low-cost houses are costly.

“Thank God the Government is planning to help people like us,” he said.

Gopal said his five children, aged between 18 months and 13 years, would sleep in a tiny room together with his wife.

“I sleep in the living room together with my uncle,” he said.

Housewife Yan Ean Foon said she could only afford to buy a house under the scheme if the monthly repayment was set at RM200 and below.

“If it is higher than that, I certainly could not afford it,” said Yan who is living in a three-room flat in Taman Pekeliling with her four children aged between nine and 19.

She said her eldest daughter was only earning RM700 a month.

She added that her husband, who is working as a plumber, could only give her between RM500 and RM800 a month, depending on his business.

“With such a low income, we definitely could not pay a few hundred ringgit a month for a house,” she said, adding that they are renting the flat for RM124 a month.

Single mother Mariam Mihat, 39, said it would still be tough for her to buy a low-cost house even with government subsidy.

“I am not earning much as a janitor. I have two school-going children.

“I doubt the bank would approve a housing loan for people like me,” she said.

REIT business a boom or bane?


Sunway REIT sees profits from Putra Place
The Star Property | February 15, 2014 | 85 views | Topic : Property News.
http://www.starproperty.my/index.php/artic...om-putra-place/

PETALING JAYA: Sunway Real Estate Investment Trust (REIT) Management Bhd, the manager of Sunway REIT, expects its close to RM1bil investment in Sunway Putra Place in Kuala Lumpur to contribute positively to its income with the property’s scheduled opening next year.

“We are very confident that there will be a quantum leap in earnings after the mixed development is completed and there will also be a capital revaluation potential given the NAV (net asset value) upside. This is a very positive milestone for growth in our financial numbers,” chief executive officer Datuk Jeffrey Ng told a press briefing yesterday.

Ng said post opening, the property would be a significant contributor to the trust’s net property income (NPI) to a “double-digit percentage” from 8.4% of its entire portfolio while unitholders could also look forward to a double-digit growth in distribution per unit in the financial year ending June 30, 2015 (FY15) and FY16.

Sunway Putra Place comprises Sunway Putra Hotel, Sunway Putra Tower and Sunway Putra Mall.

Total refurbishment for the property would cost RM459.2mil while the acquisition cost amounted to RM522.1mil.

“This will be our big investment. This refurbishment would allow us to reap full synergies of the three properties, and the refurbishment is expected to be completed in the first half of 2015. We will not optimise the business synergies of the three assets if we did not decide to renovate them together,” added Ng.

The mall will eventually add an additional 15% in net lettable area (NLA) to 580,000 sq ft after an architectural enhancement, space reconfiguration and an improvement in infrastructure.

Its hotel would be equipped with 497 new rooms bringing the total number of rooms to 618 while its office would have a total 317,000 sq ft in NLA with a fully-renovated lobby and common areas.

“The hotel would be fully refurbished; we have almost 500 new rooms while the remainder had already been refurbished by the previous owner. The LRT is at our doorstep and will connect to our building via a dedicated walkway,” Ng said.

Meanwhile, Ng is cautious on the overall outlook for the local property market given the rising interest rates which may mean added pressure for the managers to improve on their performance.

“We foresee the market cycles, and there is a likelihood that an oversupply will have impact on the less-than-strong property investor and developer. When this happens the asking price then would probably be more realistic,” he said.

“We will be more careful and reserved and watch what is happening in the market – this is our game plan now. It is very difficult today to get yields at 6.5% with the acquisition of a new asset. Despite being cautious we are also open to any good opportunities for asset acquisition.”

Mah Sing to unveil projects worth RM7.2bil in KL
by david tan | The StarBiz | Tuesday February 18, 2014 MYT 8:16:10 AM
http://www.thestar.com.my/Business/Busines...-RM72bil-in-KL/

Group managing director and chief executive Tan Sri Leong Hoy Kum (pic) told StarBiz that the group was confident that the demand for its projects was still strong, as they were uniquely designed and strategically located.

GEORGE TOWN: Mah Sing Group Bhd will launch projects worth about RM7.18bil in Kuala Lumpur in the first quarter of 2014.

The projects comprise the RM1.15bil Lakeville Residence in Taman Wahyu Kepong, featuring serviced apartments and shop offices; the RM5.13bil Southville City@KL South in Bangi comprising linked landed properties and the RM901mil D’Sara Sentral in Sungai Buloh, comprising serviced apartments, retail shops, and small office versatile office (SoVo) units.

Group managing director and chief executive Tan Sri Leong Hoy Kum (pic) told StarBiz that the group was confident that the demand for its projects was still strong, as they were uniquely designed and strategically located.

“In January, we launched the RM2.67 bil The Loft@Southbay City in Batu Maung, comprising low-density serviced residences which are a stone’s throw from the second bridge, and the RM502mil Sutera Avenue in Kota Kinabalu, comprising serviced apartments.”

On its new 30.9ha landbank in Jawi, the group plans to introduce an integrated township called Southbay East.

“We are currently at the planning stage of the township. Preview and launch of the township will be revealed closer to the dates.

“The freehold township located just 6.6km from the Jawi toll plaza on the North-South Expressway will attract local buyers who work and live in Southbay East’s immediate surrounds.

“We are proposing link homes, linked semi-detached, semi-detached, and town houses with a club-house,” Leong said.

On Dec 24, 2013, Mah Sing announced the purchase of the landbank, comprising 20 pieces of prime freehold contiguous land, for RM400mil.

Penang is expected to contribute about 10% of 2014’s sales target of RM3.6bil, which is 20% more than last year’s target .

“Southbay will be the major contributor, at 6% while the rest comes from the other Penang projects.”




UPDATE NEWS ::: Mah Sing Group Bhd will be revealing Phase 1 of Lakeville Residence very soon. Lakeville is Kuala Lumpur's latest lakeside urban community which is located in Taman Wahyu.

Based on DO submission:


Phase 1 (right of pic) - worth >RM1.15 billion:
- 3/4-storey Retail Shops-SOFO Suites (~32 units) - now open for sale by tender
- Tower A 38-storey serviced apartments (295 units)
- Tower B 42-storey serviced apartments (327 units)
- Tower G 35-storey affordable apartments (660 units)

Future Phase 2 (left of pic):
- Tower C 38-storey serviced apartments (327 units)
- Tower D 38-storey serviced apartments (327 units)
- Tower E 38-storey serviced apartments (327 units)
- Tower F 42-storey serviced apartments (295 units)

and all facilities, parking podium, internal retail space and clubhouse.

Jambatan kedua Pulau Pinang dijangka dibuka 1 Mac ini
The Malaysian Insider | February 14, 2014
http://www.themalaysianinsider.com/bahasa/...ibuka-1-mac-ini


Jambatan kedua Pulau Pinang ini adalah jambatan terpanjang di Asia Tenggara. - Gambar fail.


Jambatan Kedua Pulau Pinang bernilai RM4.5 bilion dijangka dibuka kepada umum 1 Mac ini.

"Kami diberitahu jangkaannya jambatan akan dibuka pada 1 Mac," kata Ketua Menteri Pulau Pinang Lim Guan Eng kepada pemberita di George Town hari ini, apabila ditanya mengenai tarikh jambatan itu akan beroperasi.

Apabila beroperasi kelak, jambatan yang merupakan projek kerajaan persekutuan itu akan mengurangkan kesesakan trafik di atas Jambatan Pulau Pinang sebanyak 25% dan bakal mengendalikan 100,000 kenderaan setiap hari.

Jambatan sepanjang 24 kilometer dengan 16.9 km di atas air itu menghubungkan Batu Maung di bahagian pulau dengan Batu Kawan di tanah besar dan merupakan yang terpanjang di Asia Tenggara.

Pada 30 April lepas, Perdana Menteri Datuk Seri Najib Razak menjadi pemimpin negara yang pertama menggunakan jambatan itu untuk menghadiri majlis di Kepala Batas, Seberang Perai.

Jambatan itu dijadualkan siap pada 8 November lepas dan dibuka kepada umum pada hujung bulan berkenaan. Namun tarikh pembukaan rasmi ditangguh dan dilapor akan dibuka hari ini. - Bernama, 14 Februari, 2014.

Residential property launches being delayed
BY THEAN LEE CHENG | February 17, 2014 | 1419 views | Topic : News & Articles.
http://www.starproperty.my/index.php/artic...-being-delayed/

PETALING JAYA: The residential sub-segment of the property market is expected to go through a period of consolidation with developers withholding launches, with interest expected to return in the second half of the year, said managing director Elvin Fernandez from valuers Khong & Jaafar group of companies.



“With the speculators weeded out, there will be a slow down in terms of sales, resulting in a drop in the mortgage market. But this situation will consolidate. When we move into the second half of the year, there will be a GST-effect (goods and services tax),” said Elvin.

He was commenting on the HwangDBS report “Rocky Road Ahead”. “People will want to buy before the GST sets in. In Australia, people bought pre-GST but post-GST, it was like a property recession,” said Elvin. “We will go sideways for first half and in the second half of the year, any possible weaknesses in the market will be ameliorated by the GST in the second half,” he said.

As for the commercial market, there will be an oversupply in the office market. “That market will bleed quietly,” Elvin says.

The main thrust of the report was the possible increase in interest rates.

The Consumer Price Index, which measures the rate of inflation rose to 3.2% for the month of December while the overnight policy rate, a key benchmark interest mark, remains at 3%.

This means that the inflation rate is higher than the savings rate, bringing about a negative interest rate situation. Sunway REIT Management Sdn Bhd said they have already factored in a possible 50 basis points (bps) increase in their business plan.

“If it (interest rates) does not move, it will be savings for us,” said Sunway REIT chief executive officer Datuk Jeffrey Ng. He is of the view that the interest rates will not impact the overall property market as much as the availability of credit.

“The loan margins provided by the banks are more impactful than the interest rate increase on the sector, especially in the residential segment.

“Up to a certain point, with continual employment and salary increases, buyers will be able to absorb the interest rate increase, up to a point,” he said. C H Williams, Talhar & Wong managing director Foo Jee Gen said 2014 will be a “crucial year”, particular for high-rise shoebox-sized units commonly known as small office, home office (SoHos) or variances of it.

Foo said there were about 4,000 such units in the Klang Valley with a built-up of about 500 sq ft.

“Are you going to find 8,000 people, on the ratio of two to a unit, to occupy these 4,000 units?” he asked, adding that there might be a “war on rental”.

And even if there is rental, will it be enough to pay the instalment as many of these units were sold with just 5% or 10% downpayment. This means a loan of 95% or 90% of the unit price.

Klang Valley still affordable
by g. surach | The Star | Tuesday February 18, 2014 MYT 10:57:37 AM
http://www.thestar.com.my/News/Nation/2014...-to-buy-a-home/

KUALA LUMPUR: You must have an average household income of RM14,580 a month to afford a home in the Klang Valley, according to a recent study.

The study – spearheaded by Sime Darby Property Bhd in collaboration with the Faculty of Built Environment of Universiti Malaya – takes into account the current household spending trend, price of homes and mortgage rates.



It found that certain groups of buyers interested in strategic areas can have access to houses that are priced at 56 times their household income.

The study also found that this same group can afford to spend up to 26% of their monthly household income to service a mortgage.

It identified strategic areas in the Klang Valley that are considered not only accessible but have the potential to appreciate in value. They include Nilai, Denai Alam, Bukit Jelutong and Bukit Subang.

A report of the study said that houses in selected areas in the Klang Valley remain accessible to homeowners who may be looking to invest in a second home.

The Housing-Income Index which was launched here yesterday by Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan, who said the survey results would be useful for potential house buyers.

“The Index and its key findings had been reviewed by the ministry, and we find that the information is valuable as it can help policy makers and developers work hand-in-hand to build more houses that are not only accessible. but which can appreciate in value,” he said.

Abdul Rahman hoped that other property developers and the academia can carry out similar surveys in the country.

Based on the findings, Sime Darby said that 68% of planned housing schemes in the Klang Valley were in the accessible range.

“We intend to utilise the results to develop innovative, high quality products that are accessible and meet market needs,” said Sime darby Property managing director Datuk Seri Abd Wahab Maskan.

The Housing-Income Index was developed to gain a better understanding of home-owner profiles, specifically household incomes and spending patterns in relation to owning a home.

The study covered 1,529 respondents, of whom 1,183 were home owners at 12 locations: Bukit Jelutong, Denai Alam, Bukit Subang, Bandar Bukit Raja, Subang Jaya, USJ, Putra Heights, Ara Damansara, Mont Kiara, Melawati, Kajang and Nilai.

Residents object to proposed high-rise development in TTDI
by vijenthi nair | The StarMetro Central | Monday February 17, 2014 MYT 11:38:15 AM
http://www.thestar.com.my/News/Community/2...opment-in-TTDI/

MANY Taman Tun Dr Ismail (TTDI) residents are against a proposed high-rise project located on a triangular shaped 0.4ha piece of land in their neighbourhood.

A Kuala Lumpur City Hall (DBKL) noticeboard displayed at the site recently stated that the proposed project comprised a 26-storey serviced apartment block with 185 units and a six-storey podium car park.


Mohd Hatim (third from left) and other TTDI residents with their objection letters to protest against the project.

TTDI Residents Association chairman Mohd Hatim Abdullah said the site, sandwiched between two petrol stations, shoplots and houses, was already congested on weekdays with many people double parking due to the lack of parking space.

“The site houses a bus depot that has been left vacant for more than 10 years,” he said.

“A high-rise building will stick out like a sore thumb. Any development on this land should not be more than five storeys high.

“Traffic congestion is already bad and DBKL should not approve such high-density projects as it will only make the situation worse,” said Mohd Hatim.

“Perhaps a sports complex with facilities like swimming pool, futsal court and badminton court would be a better idea. The residents will support such a project.”

Mohd Hatim also questioned DBKL’s objection gathering method, saying that it was not effective and may not represent the views of all residents.

“The notice was advertised in several newspapers from Feb 4 to 6, but many residents might have missed it because they do not read those newspapers.

“The two noticeboards placed at the site can be easily missed.

“My suggestion is for DBKL to engage with residents directly through the RA to obtain feedback,” he said at the makeshift booth set up to collect residents’ feedback outside the proposed project site on Saturday.

“I have emailed residents on this issue and asked them to give their views. Today, I am helping residents complete the objection letters which I will submit before the deadline on Feb 19,” said Mohd Hatim, adding that he had also sent an objection letter to DBKL last year when rumours surfaced about the proposed project.

TTDI RA exco member Clinton Ang said he attended a briefing by the developer last year on the project but was not allowed to ask questions.

“The developer claimed they invited all property owners within a 200m radius from the project site but many residents said they were unaware of the briefing.

“Two of us attended the briefing on behalf of the RA as observers only,” he said.

Resident Philomina Thuraisingam is concerned whether there will be enough parking space inside the apartment.

“Many of the owners and their guests will probably have to park by the roadside if there is insufficient space.

“How will the existing roads cope?’’ she asked.

Another resident, who did not want to be named, was concerned about possible damage to surrounding infrastructure and buildings during construction.

RHB Research: Property sector under pressure
Business Times | February 19, 2014
http://www.btimes.com.my/Current_News/BTIM...icle/index_html

MALAYSIA'S property sector could be staring as some downside if plans to curb bulk buying take shape, RHB Research said in a report.

Traditionally, bulk buying is done via property investors club (PIC), and in recent months foreign buyers from China, Singapore and South Korea have bought some of the country's best properties using the PIC concept.

According to the research house, high-rise projects as well as those in Iskandar Malaysia, Johor, could face more pressure, with sales already slowing due to the 30 per cent real property gains tax.

"Given the news, some downside in property stocks is possible, but will be minimal as sector valuations are already cheap," it said.

RHB Research, which is neutral on the property sector as a whole, outlined UEM Sunrise Bhd, Mah Sing Bhd and UOA Development Bhd as among those developers that will be most affected if the PIC concept is contained in Malaysia.

Urban Well-Being, Housing and Local Government Minister Datuk Abdul Rahman Dahlan had been quoted as saying that some individuals were using the PIC concept as a platform to buy properties in bulk and at discounted prices for sale in the secondary market at huge profits within one to two years.

Lakeside luxury in Seri Kembangan
by oh ing yeen | The StarBiz | Friday February 21, 2014 MYT 8:14:52 AM
http://www.thestar.com.my/Business/SME/201...Seri-Kembangan/

Boutique developer Clearwater Group recently launched 20 units of junior penthouses in its Dream City luxury lakeside development in Seri Kembangan, Kuala Lumpur.

The penthouses that are located in Dream City’s residential towers modelled after Malaysia’s famous limestone hills, feature a spectacular view of a 20.6ha lake.

The penthouse units offers a luxurious living space with open-plan kitchen and dining areas.


Up for grabs: Guests viewing model units of the penthouses at Dream City’s sales gallery at Bluwater Estate in Seri Kembangan.

Floor-to-ceiling window panels in the units will allow unobstructed views of the surrounding scenery.

Each unit comes with eco-friendly features such as high-quality paint finishes, solid bamboo flooring and energy-efficient lighting.

Prices for the penthouses measuring 151.4 sq m start from RM830,000.

The 20 units that were launched are located on the higher floors of Dream City’s seven-tower development.

According to Clearwater Group chief operating officer Lim See Tow, Dream City aims to be a dream home for families.

She added that buyers of the penthouses will have their units come complete with personal concierge services.

Dream City was designed by Eco ID, an award-winning architecture firm based in Singapore.

The development is also designed with a 8,361 sq m skypark on level seven that connects and stretches across all the towers.

The skypark comes fitted with earth-friendly conveniences such as rainwater recycling and energy efficient windows.

The skypark features several gardens where residents can enjoy walking tracks, two tennis courts, three infinity pools, yoga pavilions and a gymnasium.

The Dream City development is located within the Bluwater Estate south of Kuala Lumpur and is 20 minutes drive away from the city centre. It is easily accessible via major highways such as the KL-Seremban Highway, Sungai Besi Highway, SILK Highway, Cheras-Kajang Highway and Kesas Expressway.

Clearwater Group managing director Datin Dian Lee said, “We have planned Dream City to give residents the opportunity to be free and independent, to feel the sun on their skin, the lightness in the breeze and to be connected to the natural beauty of the gorgeous lake, greenery and clear blue skies. It is a lovely setting that allows one to simply enjoy the wonders of Mother Nature.”

Models of the junior penthouses are available for viewing at Dream City’s sales gallery at Bluwater Estate in Seri Kembangan.

This post has been edited by accetera: Feb 25 2014, 03:24 PM

Tropicana Corp reveals Fairfield Residences @ Tropicana Heights Kajang


Development set to benefit Kajang and Bangi
The StarProperty | February 25, 2014
http://www.starproperty.my/index.php/artic...jang-and-bangi/



An artist’s impression of Tropicana Heights’ 750m linear lake within its Central Park.


Tropicana Corporation Bhd has officially opened its show village for Tropicana Heights in Kajang to the public recently with many house buyers taking keen interest in the offering.

Located on the edge of Kajang town and Bangi, Tropicana Heights encompasses a total of 199 acres of freehold land on the grounds of what used to be the Kajang Hill Golf and Country Club.

“Prior to the official launch, interested homebuyers have registered themselves at the soft sales for the property,” said Tropicana marketing and sales executive director Pam Loh.

She said the first phase of the development, Fairfield Residences, has received exceptional response with more than 60% of units booked.

The 22’x70’ two-storey terrace units are priced from RM739,800, while the 24’x70’ three-storey terrace units are sold from RM936,800.



An artist’s impression of the 1.5- acre linear park within Fairfield Residences.


Fairfield Residences spans 25 acres, comprising 289 two-storey units, 91 three-storey units and a 1.5-acre linear park, which is in line with the concept of Tropicana Heights being a green township.

“The main draw of this green concept is the additional 16 acres dedicated to the creation of a Central Park in Tropicana Heights, which is also currently being developed with Fairfield Residences.”

She said some of the mature trees from the old golf course have been retained and transplanted into the green space, which will feature a 750-metre linear lake with a viewing deck, picnic areas and a wide track for pedestrians and cyclists among many other things.

“In addition to that, we plan to have green spaces in every precinct in all subsequent phases of development,” said Loh.

For security, there is a single entry and exit entrance at Fairfield Residences with 24 hours guards.



Loh says the the first phase of the development, Fairfield Residences, has received exceptional response.


Because Tropicana Heights is designed to be a low-density township with a mix of both landed and high-rise residential and commercial property, Kajang can expect to see big developments in the years to come.

“The location may seem a little out of the way for now, but other developments in Kajang and its surrounding areas will make it very important in the near future,” said project executive director Zulkifly Garib.

As one of the key areas identified by the Economic Transformation Plan’s development of Greater Kuala Lumpur, Kajang will be especially well connected after the completion of the new Mass Rapid Transit (MRT) Sungai Buloh-Kajang line.

“The local council is also working with several local developers to finalise the details for a proposed nearby flyover access directly from Bangi, which will greatly increase the accessibility of Tropicana Heights,” said Zulkifly.

New buildings must comply with criteria to get approval
BY BRENDA CH | The StarProperty | February 25, 2014 | 207 views | Topic : Home & Living, News & Articles, Property News.
http://www.starproperty.my/index.php/artic...o-get-approval/



A total of 1,400 trees are planted within the compound of PJ Trade Centre, Damansara Perdana.


NEW developments, be it commercial or residential, must fulfil a list of green criteria set by the Petaling Jaya City Council (MBPJ) before the green light is given.

This is all part of MBPJ’s plan to make the city a sustainable one come 2030, by kicking off with a low carbon city framework programme this year.

Developments including semi-detached structures and bungalows will have to be fitted with a rainwater harvesting system.

Meanwhile, new commercial and mixed commercial developments will have to fulfil five things.

On the checklist are, a rainwater harvesting system, green building index (GBI) compliance, use of light emitting diode (LED) lamps, eco-friendly development manual (Masma) specifications and a landscape area of about 10% to 15% out of their total development area.

“These things would have to be fulfilled first before the approval for the planning permits are issued,” said MBPJ’s one-stop centre (OSC), head Lee Lih Shyan.

New developments have been advised to adhere to the green requirements since 2010 but this year, MBPJ will be making it compulsory for all.



Petaling Jaya mayor Datin Paduka Alinah Ahmad together with Lee and former councillor Cynthia showing off the Green Apple award given to them by the Green Organisation for their Green Rebate Scheme.



Green Requirements

a) Rainwater Harvesting

Applicants for new developments will be required to install a rainwater harvesting system according to guidelines set by the Urban Wellbeing, Housing and Local Government Ministry.

This comes under the ministry’s Guidelines for Installing A Rainwater Collection and Utilisation System.

Developments include bungalows, semi-detached structures, apartments, condominiums, commercial units and even mixed development units.

Between 2010 and 2011, MBPJ received 418 applicants, while there were 117 applications in 2012 and 93 as of September 2013.


Rainwater harvesting system installed at a community hall as part of MBPJ low carbon framework 2014.


(b) Green Building Index (GBI)

New developments will have to adhere or meet the requirements of the green building standards.

In other words, buildings have to meet the criteria on energy and water efficiency.

This is to be reflected in the building plans submitted to the city council.

For example, using materials such as LED lights, efficient energy usage through solar panelling or even sufficient windows where sunlight can come through.

Applicants have to submit this together with the building plans and not after the final reports.

Projects approved in accordance with the GBI were 61 for 2010 to 2011, 16 for 2012 and 13 between January and September 2013.

This GBI requirement, however, is only required for bigger-scaled developments like commercial units or mixed developments.

In addition, developers are also required to include a landscape area of about 10% to 15% in their projects.

This space will have to be free from utilities and other structures and set aside for landscaping.



Wisma Rehda in Petaling Jaya adhering to the council’s green guidelines by installing lots of glass panelling to conserve energy.


Between 2010 and 2011, only 62 developments applied, 26 in 2012 and 24 between January and September 2013.

Other initiatives MBPJ will be taking on for their low carbon city project is the use of LED lights for all new developments.

These energy-saving bulbs are also used to light up the back alleys of houses around the city.

Started in 2012, the city council had allocated RM100,000 to fitting LED lights at residential areas with back lanes.

Meant to promote green initiatives and also for safety reasons, the LED lights are timed to turn on from 7pm to 7am.

Future developments will also have to be outfitted with LED bulbs.


One of the existing commercial building in Petaling Jaya adhering to the council’s green guidelines by installing lots of glass panelling and LED lights to conserve energy.


Green Rebates

Open to 100,000 households in the city, homeowners are urged to go green and stand a chance to get an assessment rebate of up to 100%.

The value of the rebate will be determined by six criteria such as energy, water, transport, compost, biodiversity and other green initiatives they may have.

For example, cultivate a garden in the house or participate in recycling activities.

Owners of semi-D’s, terrace, bungalows, apartments, condominiums and flats are eligible.

Applicants will need to present their application form along with a copy of their latest assessment bill, electricity bill, water bill and myKad.

Homeowners who have received the rebate will be required to reapply for the following year.

They will also be required to take on more green initiatives.

In 2011, only 50 applied, with 49 eligible to participate and 13 receiving a 100% rebate.

Meanwhile in 2012, 83 applied, 65 were eligible and 15 received a 100% assessment rebate.

As of August 2013, 123 applied, 97 were eligible and 24 received a 100% rebate.

Thanks to this green rebate scheme, MBPJ was recently recognised by the UK-based Green Organisation as an international Green Ambassador.

“After three years, we were finally awarded the Green Apple award under the category of Rebates for Green Living,” said MBPJ councillor Cynthia Gabriel.

She said that this not only benefitted homeowners but also helped create a symbiotic relationship between the council and residents.

“It’s quite special because not all countries implement this kind of scheme. We are among the few,” she added.



Fancy taking a shower next to a tree? That’s a special feature of the health club at PJ Trade Centre.


Gabriel, along with other councilors, represented MBPJ to collect the award in London recently.

She hopes more people will participate in this rebate scheme next year as MBPJ has already allocated a bigger budget for the purpose.

Apart from this, MBPJ will also be extending their hybrid car scheme for free parking from a month to a year.

Anyone who buys a hybrid car next year in Petaling Jaya will be eligible to receive free parking in the city for a year.

“Previously, it was only a month but to encourage more people to go green, we will extend to a year,” she said.

She added that MBPJ would strive to get more international recognition in the green department.

She added that the council aimed to share green project ideas and knowledge with other green ambassadors here.

RPGT have little effect in curbing speculation, but tightening measures do
Business Times | Tuesday, February 25, 2014, 15:31 PM
http://www.nst.com.my/business/latest/rpgt...lation-1.492706

KUALA LUMPUR: The tightening measures implemented by the government will significantly curb excessive speculative activity in the property sector, an international property consultant said.

Rahim and Co managing director Choy Yue Kwong said the measures will help constraint speculators from using bank loans as a method of financing.

"The effect is slowly coming. The measures will have a significant impact on speculation, especially for speculators who depend on bank loans," he told reporters after the opening of the Seventh Malaysian Property Summit 2014 here today.

In the last few years, the central bank has implemented several tightening measures including loan assessment based on net income.

Choy said apart from tightening measures, another method to curtail speculation is through the implementation of the build-and-sell system, which makes developers more selective in accepting buyers compared to the current system with developers trying to sell as soon as possible to reduce the cost of holding.

Meanwhile, Choy said the implementation of the real property gains tax (RPGT) will have little effect in curbing speculative activity in the market.

He said the RPGT should have been introduced earlier when house prices were lower but appreciated at a faster pace and profit margins were higher.

At the moment, he said, housing prices have gone too high, squeezing profit margins, thus making the RPGT less significant.

However, Choy said any increase in RPGT rates should be gradual and monitored closely to prevent any negative impact on the market.

RPGT is a form of capital gains tax chargeable on gains arising from the disposal of real property.

Currently, the rates imposed in Malaysia are 30 per cent for properties disposed of in less than three years, and 20 per cent and 15 per cent for disposals within the holding period of up to four and five years respectively. -- BERNAMA