ASEAN economies ill-prepared for old age
https://asia.nikkei.com/Editor-s-Picks/FT-C...red-for-old-age

Economic growth is destined to slow and property demand will be lower than most expected.

Nanyang land and office may be sold, operations relocated

MCIL’s 2018 annual report shows that the Nanyang Siang Pau land, on Jalan SS7/2, had a carrying amount of US$9.73 million or RM40.25 million. The 6.19-acre freehold parcel was acquired in 1994

https://www.edgeprop.my/content/1514435/nan...tions-relocated

More redevelopment coming.

Cristal Serin, Cyberjaya by Villamas:

Here presenting example of multiple submission project / compress loan + offer big cash out possible?
Many many lelong units incoming from here:







1. Pang - 6 units
2. Azril - 4 units
3. Tan - 7 units
4. Lim - 5 units
5. Teh - 6 units (all her units already sold in lelong at around 400k. minimum 250k lost for each unit)
6. Loke - 3 units
7. Mifzal - 6 units


I salute property guru/sifu and the Sales Agents that managed to sell them all units here.
This is trully die with massive debt.

Wah, 6-7 units how to handle?
6 units 250k losses at minimum each, more than 1.5 million.
Confirm bankruptcy already.

1 unit 100k cashback,6-7 units already 600-700k

Stash the cashback money in parents/siblings account and declare bankruptcy

There is no automatic discharge from bankruptcy in Malaysia, say you bankrupt for 15-20 years, 600-700k, something like 2000 per month worth to do so?

This post has been edited by Angelic Layer: Apr 25 2019, 07:59 PM

Just a suggestion to salvage the situation....the initial intention was definitely flip for profit

With current negative equity,might as well just declare bankrupt and hide whatever cashback given by developer

When people willing to go bankrupt 1.5 million for a mere 5-600k, this country have no future already.

the most scary sign is when more ppl are getting jobless in Malaysia.

Yes, no income, people's life are getting deteriorating, house, car, education, debt, and even health, future and savings as well as personal relationship is ebbing away as well.

Productivity and working attitude in this country is poor, could only improve if experienced financial difficulty. A economic recession is overdue.

It is dangerous to say that, it is usually the infrastructure, capitalization of the company in this country is inadequate, say our scale is too small to compete with globalization.
Once a person loses his job over a certain age, say in his 40's he is not likely to be employable anymore.
A generation lost.

As long as unemployed are willing to adapt, finding a job won't be a major issue.

if u are talking about non professional jobs then yes you are right.

The buyer must have paid or offsetted the 10% downpayment of the houses, so would there be much left after developer releases the rebates?

Cruel and scary. But it is neccesary to turn the economy around rather than dragging on with no potential good outcome in the near future.

How did they get so many units on loan?

wut ? brancrupt forever ?

You can discharge 5 years after and you submit an application to discharge if you satisfied:
- achieves the target contribution for their debts
- declare their liabilities to Malaysia Department of Insolvency.

If target contribution not met, or there are others bantah, you bankrupt forever.

Was talking to someone on property market and I kinda agreed with her view that instead of go for newly launch property, might as well by the auction units at much cheaper price (some is even cheaper than the selling price few years ago). If it's for own stay, looks very attractive. But preferably to find out the history of the property as well. Any thoughts?

understand the proclamation and condition of sale before proceeding