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Investment ROSEWOODZ @ BUKIT JALIL BY EXISM, New Age Ingenuity

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icemanfx
post Mar 25 2020, 03:56 AM

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QUOTE(DavidKool @ Mar 25 2020, 02:52 AM)
I mean Exsim is consider Grade 2 or worst Grade 3 developer for most of the banks. They have plenty completed projects and not many unsold stocks, not that hard to get a bridging loan based on the group's Financial Report.

Unless Exsim Group have too high gearing (commitment) on their other landbank loans or other consolidated company debts. Or this subsidiary probably involved other third party, I also not sure which subsidiary company they using.
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So you have no idea.
SUSwct
post Mar 25 2020, 08:27 AM

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The only concern for now is the 0.44 maintenance fees. If what being said is real, most of the buyers will not proceed with the loan.
bigman
post Mar 25 2020, 08:41 AM

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QUOTE(wct @ Mar 25 2020, 08:27 AM)
The only concern for now is the 0.44 maintenance fees. If what being said is real, most of the buyers will not proceed with the loan.
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want canggih and nice landscaping and facilities...but dun want pay the price... mana boleh...

like wanna drive BMW but cannot afford maintenance.. doh.gif
SUSwct
post Mar 25 2020, 09:19 AM

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QUOTE(bigman @ Mar 25 2020, 08:41 AM)
want canggih and nice landscaping and facilities...but dun want pay the price... mana boleh...

like wanna drive BMW but cannot afford maintenance..  doh.gif
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Those who are buying for own stay definitely have no problem with it but when there are investors and young age buyers not able to pay the maintenance fees, it goes back to the other tenants. Based on exsim other projects, increment is inevitable.

This post has been edited by wct: Mar 25 2020, 09:19 AM
aaron1717
post Mar 25 2020, 09:20 AM

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QUOTE(icemanfx @ Mar 25 2020, 01:48 AM)
Probably needs the number to show to banks for bridging loan.
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to drawdown the BL, the bank would need sales confirmations from the SPA lawyers to approve it... this presales launch wont help...

aaron1717
post Mar 25 2020, 09:22 AM

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QUOTE(wct @ Mar 25 2020, 08:27 AM)
The only concern for now is the 0.44 maintenance fees. If what being said is real, most of the buyers will not proceed with the loan.
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problem is the density as well... not many units sharing the cost together... so based on this mindset... low density condo have to come with lower quality facilities eh to properly align the maintenance cost shared by residents...
DavidKool
post Mar 25 2020, 09:42 AM

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QUOTE(icemanfx @ Mar 25 2020, 03:56 AM)
So you have no idea.
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It's not my interest.
ZeneticX
post Mar 25 2020, 10:54 AM

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QUOTE(DavidKool @ Mar 25 2020, 01:40 AM)
Yup, but under HDA, water bill slightly higher only, say max RM 10-15 extra per month on top of the initial few bucks for condominium.
Cukai Pintu, we dont pay every month and just one two hundred additional per annum. So not a worry.

Yes, practically maintenance fee is higher if more higher maintenance facilities are given, such as bigger gym (more equipment), bigger pool, and so on. If they give more landscape, more common area, more corridors, library room, games room, garden, etc  it don't caused too much maintenance fee. With the current thing provided, RM 0.44 psf is really huge. 

Unit 12 is probably the best orientation unit and since you're 20+ floors, it would be consider nice. Hopefully the opposite land would not block the Pavilion view. Otherwise, I would say Unit 10 low to mid floors could be the next best, middle of Unit 9 and 11, face small pool directly.
But Unit 12 is a quadrant of only 3 unit zone, it wins the other side 11 units a zone.

With current MCO and the spread of Covid19, economy would be going to be much slower, new government is shaking, purchasers will lose confidence to the market, furthermore seems all buyers here booked without knowing any details of this project, I will foresee some withdrawals for time being regardless any projects. Without a facade or architectural collateral, I doubt they obtained authority approval and able to get clearance to launch by May 2020. PTG, KPKT, government offices are all closed.

I am initially putting some interest, but too plenty of info discrepancy and I am not comfortable with the 1 acre land size pocket dev.
I've bought a few pre-launched props but at least I see the full layout, facades, scale model, full plans, etc.
This Rosewoodz is probably the most skeptical launched by Exsim I ever seen. Too rush to soft launch, I am just wonder.
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Yes, details right now are very sketchy

the only slides I received from my agent are the layouts with some prelimenary info (I believe you've seen it as well)

No concept art or anything. I did saw a concept of how the building will look like from one of the slides used by an agent in a live talk on fb, but the picture is blurry and seems like unofficial art.

at least the Damansara projects (D'Quince, D'Vervain, Cosmos) have a show room ready with final design, just waiting APDL
bigman
post Mar 25 2020, 11:00 AM

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QUOTE(ZeneticX @ Mar 25 2020, 10:54 AM)
Yes, details right now are very sketchy

the only slides I received from my agent are the layouts with some prelimenary info (I believe you've seen it as well)

No concept art or anything. I did saw a concept of how the building will look like from one of the slides used by an agent in a live talk on fb, but the picture is blurry and seems like unofficial art.

at least the Damansara projects (D'Quince, D'Vervain, Cosmos) have a show room ready with final design, just waiting APDL
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Their damansara projects (Flora damansara)....for me -- no investment value at all... that is the worst piece of land in so called Damansara area... these projects just mean for Exsim to get capital to kick start their construction works in current Empire City... thats all about it

chicaman
post Mar 25 2020, 11:32 AM

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QUOTE(ZeneticX @ Mar 24 2020, 07:23 PM)
i see. need to do more study and watch out then
so what are the good developers left? every project thread that I see confirm got ppl complaining or giving bad rep about particular developer  biggrin.gif
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Exsim quality is no longer there, I own one of their undercon property.


QUOTE(wct @ Mar 24 2020, 08:00 PM)
Can compare with project by the top management from exsim that left and formed promenade. Look at their website and their current project. https://forum.lowyat.net/topic/4789369/all
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Yes, ask their consultant, and see what they feedback about current Exsim Management
ZeneticX
post Mar 25 2020, 11:37 AM

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QUOTE(chicaman @ Mar 25 2020, 11:32 AM)
Exsim quality is no longer there, I own one of their undercon property.
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Which project?

This post has been edited by ZeneticX: Mar 25 2020, 11:46 AM
ZeneticX
post Mar 25 2020, 11:38 AM

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QUOTE(bigman @ Mar 25 2020, 11:00 AM)
Their damansara projects (Flora damansara)....for me -- no investment value at all... that is the worst piece of land in so called Damansara area... these projects just mean for Exsim to get capital to kick start their construction works in current Empire City... thats all about it
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was interested in D'Vervain at first. even visited their showroom

but too much hard selling from the agents and most of their selling points is based on assumptions



for rosewoodz at least, for me, it's really near to LRT and its still Bukit Jalil area. for own stay point of view is still ok

This post has been edited by ZeneticX: Mar 25 2020, 11:39 AM
ZeneticX
post Mar 25 2020, 11:55 AM

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QUOTE(DavidKool @ Mar 25 2020, 02:32 AM)
Exsim is a client of Promenade Group, a similar to a consultancy company for most Exsim projects since they were a new and small boutique developer back then. Don't also forget Binastra, the BJ main con taikor also helped to built Exsim's brand in a very booming time, particularly The Treez, first ever Exsim's z flagship. Binastra was Berjaya main con for most BJ projects back then, they were the key man to connect Exsim young bosses to TS Vincent tan son.

The Treez so far was their best results in terms of quality, they sell very very expensive back then. Even with Michael Yam and DIBS programe, they struggled to sell too but a good timing of BBB in early 2010s, they managed to complete it and Exsim's bosses hold their principle for new and modern development. Next is Twin Arkz (in terms design), they have established as a strong boutique developer when they promote Twin Arkz, eclipsing Trinity back then after another successful The Leafz in terms of quality, another DIBS project to tackle Ah G ah Kao investors during BBB mode.

With above, we can see Exsim have their super fans base due to above but no doubt most of their boutique developments are fancy design, nice and suits for young family but Exsim really took plenty risk to keep launching high price props, which Trinity don't have balls.

I only see their mistake was giving plenty discounts to attract buyers rather than selling their own signature product. To started few developments with DIBS, an investment scheme was easy to commence, sell and built, but to sustain the ability of appreciation after handover is also crucial. They launched The Rainz with plenty discounts again, by that time their Exsim name can actually sell themselves. They appointed IQI as agency too, all absorbed into the selling price.

I may agree that old Z series are history, but Exsim's blood are still there and I can see them keep growing with launches everywhere, Kelana Jaya and even Damsansara multiple launches recently, question is can they cope? I will be concur that the quality may be not what purchasers paid RM value to RM value.

Buying Exsim properties for investment is quite similar to relying on capital on capital return (zero down to RM10-20k down-payment but earned maybe RM50k upon VPed or RM100k during good times), their properties attracted plenty home viewers but the problem is buying Exsim projects don't earn big bucks.

I dont see it is mainly because Promenade Group. Let's see how they fare for UNO Sg Besi.
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agree with this. this is my main concern as well

it seems they have plenty of huge portfolios lining up for this year. Millerz, Mossaz, Arcuz and the Damansara projects all lining up

if they take the "chasing deadline" approach most likely quality will be affected
shinimi
post Mar 25 2020, 12:28 PM

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Have some questions for this project especially the facilities and maintenance fee of 0.44sen.

1. Are the facilities that they mention worth the maintenance fee of 0.44 sen
2. SA told me the maintenance fee this high is also due to low density.
3. Is Exsim doing this to maximize profit now, the podium and sky facilities didn't even use the whole floor for Z series now.
4. Is this the sign that Exsim is going downwards with their quality now.


DavidKool
post Mar 25 2020, 12:41 PM

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QUOTE(ZeneticX @ Mar 25 2020, 11:38 AM)
was interested in D'Vervain at first. even visited their showroom

but too much hard selling from the agents and most of their selling points is based on assumptions
for rosewoodz at least, for me, it's really near to LRT and its still Bukit Jalil area. for own stay point of view is still ok
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Bro, if own stay, I think should be okay. Bukit Jalil/OUG area should be better than Damansara' D/Vervain area.

Did the agent let you know how the RWz discounts or rebates work?
shinimi
post Mar 25 2020, 12:58 PM

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QUOTE(DavidKool @ Mar 25 2020, 12:41 PM)
Bro, if own stay, I think should be okay. Bukit Jalil/OUG area should be better than Damansara' D/Vervain area.

Did the agent let you know how the RWz discounts or rebates work?
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7%

4% SPA
2% signed within 14 days
1% VP
bigman
post Mar 25 2020, 01:47 PM

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QUOTE(ZeneticX @ Mar 25 2020, 11:38 AM)
was interested in D'Vervain at first. even visited their showroom

but too much hard selling from the agents and most of their selling points is based on assumptions
for rosewoodz at least, for me, it's really near to LRT and its still Bukit Jalil area. for own stay point of view is still ok
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yup..when too many agents hard selling...then must beware about .... however....for this project... the marketing tactic also a bit fishy... they got enough agents to swallow all the 3xx units in one go... then declare as sold out... but after this ...you will get msg from agents say got limited units available....same as their few projects at OKR...until now still got units ... but on paper 99% sold
ZeneticX
post Mar 25 2020, 02:46 PM

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QUOTE(DavidKool @ Mar 25 2020, 12:41 PM)
Bro, if own stay, I think should be okay. Bukit Jalil/OUG area should be better than Damansara' D/Vervain area.

Did the agent let you know how the RWz discounts or rebates work?
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Yes she did the calculation for me

QUOTE(shinimi @ Mar 25 2020, 12:58 PM)
7%

4% SPA
2% signed within 14 days
1% VP
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In addition to these

user posted image
icemanfx
post Mar 25 2020, 03:36 PM

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QUOTE(bigman @ Mar 25 2020, 01:47 PM)
yup..when too many agents hard selling...then must beware about .... however....for this project... the marketing tactic also a bit fishy... they got enough agents to swallow all the 3xx units in one go... then declare as sold out... but after this ...you will get msg from agents say got limited units available....same as their few projects at OKR...until now still got units ... but on paper 99% sold
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Property market information is one of if not the least transparent among all investment assets, should take with a large pinch of salt.
Informationer P
post Apr 11 2020, 04:02 PM

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I’m EXSIM Previous project owner.

Anyone interested to booking unit, you can refer my name.
We share the Referral fees.
(you must inform me, before going to book the unit)
Else, you & me can’t put in my name as referral with your booking.

Let’s huat together

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