Easy Buy & Sell

Property Prices... Before and After ???

noreply@blogger.com (Ms. Anne) — Thu, 12 Jul 2012 10:31:00 +0000

Hi guys...

It's been awhile since I last updated this blog...been very busy lately

Well I was actually searching for new materials to be shared with readers out there (if there are any), when I bumped into this advertisement in the local daily which I like to share with you all ...well almost everybody is complaining about the ever increasing property prices. A double storey intermediate terrace house in Bundusan area was sold for below RM200K back in 2005 but now the price has gone up to almost RM400K (without taking into accounts of things like renovations, etc.).
But, what about this?

Here, I present to you the Before and After :)

Before

and ...

After

It seems that there is a similarity between the two... think about it :)

EPF declares dividend of 6.00% for 2011

noreply@blogger.com (Ms. Anne) — Sun, 19 Feb 2012 11:47:00 +0000

The Employees Provident Fund (EPF) today announced a six per cent dividend for the year ended Dec 31, 2011.

EPF Declares Decade-High Dividend Of 6.00 Per Cent For 2011

Record RM24.47b Dividend Payout on RM27.24b Gross Investment Income

The Employees Provident Fund (EPF) Board, with the approval of the Minister of Finance, has declared a dividend rate of 6.00 per cent, the highest in the last 10 years, for the financial year ended 31 December 2011. The dividend rate, an increase of 20 basis points over the 5.80 per cent rate paid out in 2010, translates to a total of RM24.47 billion being distributed to its members.

Read the rest of the news here..

(Source : EPF News)

Putatan Platinum Apartments ... SPNB are you sleeping?

noreply@blogger.com (Ms. Anne) — Thu, 26 Jan 2012 16:52:00 +0000

Hello SPNB!
What is happening to this project?
Are you sleeping?

Read my earlier post on Putatan Platinum Apartments published on 16 February 2010.

You may want to read the following complaints here ...

Putatan SPNB housing faced long delay – MP. published in Borneo Post Online on 17 December 2011

He said the buyers felt being let down by the government for failing to get the apartments ready on time.
He said the buyers, who had been very patient waiting for the apartments to be completed, found out later that their wait was going to be prolonged due to the slow progress of the project.
Hiew said he was told that there had been a change of contractor recently and the project had stalled for some time.
“This has further worried them and the delay is now into the fifth month. It will take at least another year before they can finally move in. There is so much work there to be completed,” he said.
Hiew claimed that the SPNB housing projects in Sabah were facing serious problems, and many of these projects, mostly high-rise medium cost apartments, had stalled.
The Putatan one was progressing slowly, he said, adding that he wanted the SPNB to explain the problems affecting its projects.

Projek Putatan Platinum Apartmen, Kota Kinabalu published in Aduan Rakyat online on 8 December 2011

Alasan yang diberikan SPNB bahawa kelewatan projek ini kerana permasalahan yang dihadapi oleh pihak kontraktor adalah berlainan daripada sumber yang saya perolehi iaitu kerana pembayaran yang tertangguh daripada pihak SPNB. Semestinya ia menyukarkan kontraktor sekiranya tiada pusingan modal setelah kerja yang mereka telah laksanakan tidak mendapat bayaran.(common-senselah).Tempoh siap yang dijanjikan sepatutnya bulan Ogos 2011 terpaksa dilanjutkan lagi sehingga tahun depan iaitu bulan September 2012 memakan masa selama setahun.

APA JADI DENGAN PUTATAN APARTMENT? published in Sabah Kini on 4 August 2011

Jelaslah kepada kami bahawa projek ini adalah penipuan secara terang-terangan kerana projek tersebut kelihatan tidak aktif dan buruh tidak kelihatan di tapak tersebut. Mohon pihak sabahkini.net boleh menghebohkan perkara ini agar pihak yang terlibat terutamananya pihak kerajaan (SPNB merupakan pemaju yang mendapat sumber dana dari kerajaan) dapat memberi penjelasan berkenaan projek tersebut.

Merry Christmas ...

noreply@blogger.com (Ms. Anne) — Sun, 25 Dec 2011 04:02:00 +0000

Merry Christmas and Happy New Year 2012!

ASNB declares income dividend of 6.5 sen per unit for ASW 2020 - 2011

noreply@blogger.com (Ms. Anne) — Sun, 21 Aug 2011 01:17:00 +0000

On 19 August 2011, Permodalan Nasional Berhad (PNB) announced a 6.50 sen dividend per unit of Amanah Saham Wawasan 2020 (ASW 2020) for the year ending 31 August 2011. This year's dividend will be an increase of 0.15 sen per unit compared with the 6.35 sen dividend for 2010.

As a unitholder and participant through the Employees Provident Fund (EPF) members' investment scheme, I am happy with the return ;) ... at least it gives better return than EPF...

Have you invested / participated through the EPF members' investment scheme? If you have not, do read my earlier post ~ INVEST IN AMANAH SAHAM WAWASAN (ASW)

Angkasa Apartments @ Darau, Menggatal

noreply@blogger.com (Ms. Anne) — Tue, 14 Jun 2011 10:18:00 +0000

Angkasa Apartments aka Apartmen Darau Angkasa in Menggatal is another project from Syarikat Perumahan Negara Berhad SPNB), a wholly owned subsidiary of the Minister Of Finance Incorporated (MOf Inc.). It is a joint development by SPNB ~ Kinsanuri ~ Bina Puri JV.

* 30% Reserved for Bumiputera with 5% discount * Loan margin approved up to 100%

It is located in Darau, Menggatal ~ about 5 minutes drive to 1 Borneo, the largest shopping mall in Sabah.

Image source : Twins Realty's Photos ~ http://www.facebook.com/photos.php?id=136871409665592

It consists of

A. 8 Storey Medium Cost Apartment
1. Floor size : 850 square feet (excluding the dry area)
2. Price from RM158,080.00
3. No. of units available : 1,280

B. 11 Storey Medium Cost Apartment
1. Floor size : 850 square feet (excluding the dry area)
2. Price from RM158,080.00
3. No. of units available : 1,280

Built up / Floor plan : 25' x 37' Click to show
(Source : SPNB website )

Just like in my earlier post ~ Putatan Platinum Apartments. The facilities available are quite similar i.e. Lift, Swimming pools, Recreation Club, Badminton court, Basketball court, 24 hours security, Children Playground, Mini Football field, Mini multipurpose hall, surau.

For more information, please contact 088 - 490 920 / 272 212 / 721 777

The following pictures were taken at the show unit during my visit there. Enjoy the pictures ...

You may want to read ...
Putatan Platinum Apartments
Bundusan Perdana Apartments

Reasons for 'exorbitant' property prices

noreply@blogger.com (Ms. Anne) — Thu, 05 May 2011 06:12:00 +0000

The National House Buyers Association (HBA) has criticised the apparent collusion between some developers, valuers and banks for pushing up property prices to levels which it called “exorbitant” and said that stronger measures are needed to deter speculation.

This is a very good article about the current 'exorbitant' property prices in Malaysia. All credit goes to Lee Wei Lian (The Malaysian Insider). Happy reading!

‘Unholy alliances’ to blame for exorbitant property prices, says HBA
By Lee Wei Lian
May 04, 2011

The association recommended that the government implement stronger measures to deter speculation. — world-stay.com pic
KUALA LUMPUR, May 4 — The National House Buyers Association (HBA) has criticised the apparent collusion between some developers, valuers and banks for pushing up property prices to levels which it called “exorbitant” and said that stronger measures are needed to deter speculation.

HBA said in a statement that in addition to low interest rates and easy credit which had fuelled speculative activity, greed had taken over the market.

“A ‘unholy alliance’ exists between certain developers, valuers and banks,” said HBA.

“In an environment of hot demand, the banks work in cahoots with developers assisted by those wayward valuers. Our ‘teh tarik syndrome’ is also very relevant. When the price of condensed milk increases by 20 sen, the entire cost ‘teh tarik’ increases by 20 sen. Similarly, when the cost of construction increases by 20 per cent, the equivalent cost of housing increases.”

The association suggested that the government implement stronger measures to deter speculation as the 70 per cent loan-to-value ratio (LVR) mortgage cap introduced would be of limited effect.

“For those in the speculation business, the 20 per cent reduction in LVR will not really deter them,” said HBA.

It gave the example of a RM300,000 house, which would now require a 30 per cent downpayment, but this would be based on the subsequent progressive payments for a property under construction, after which the end-financing loan of 70 per cent kicks in.

“If he (the speculator) can flog the house off at a profit at this stage, he does not need to incur an additional sum to his housing loan,” HBA pointed out.

“Speculators or maybe ‘syndicates’ are also cash rich because of the roll-over system they are using. In other words, whatever profit they earned from the previous house, they put into the new house, thus the 30 per cent up-front is not a major deterrent factor. Those who buy en-bloc may feel the heat but when collaborating with their ‘friendly’ developers/ builders, terms and conditions may be ‘cushion off’.”

The association also called for the sliding scale Real Property Gains Tax (RPGT) rate to be reintroduced.

This would entail a one-time RPGT exemption after which the next two properties should be taxed starting at 30 per cent for properties disposed of within two years and a reduction to zero per cent for properties disposed after five years.

For third and subsequent properties, HBA is proposing that a 30 per cent flat rate RPGT would apply.

The association also proposed that a quota of low-medium and medium-cost houses priced between RM250,000 to RM550,000 be imposed on developers similar to the 30 per cent quota for low-cost houses.

“It has always been the Government’s aspiration for every citizen to have a roof over their head and the Government should continue to push this agenda,” said HBA.

The high prices of property in urban areas prompted the Najib administration to introduce a first-home ownership scheme in March in addition to the loan-to-value ratio cap in a bid to stave off discontent.

The measures pale in comparison, however, to efforts seen elsewhere in the region, such as China and Singapore.

The Chinese government last year introduced curbs on foreigners buying property and raised the minimum downpayment for first-time buyers to 30 per cent from 20 per cent and banks were ordered to suspend mortgages on third homes and above in some cases — in addition to hiking interest rates three times since October.

Singapore, meanwhile, raised stamp duty on new properties to as much as 16 per cent of the sale price to be paid by the seller if the house is offloaded within a year of purchase.

The amount that banks can lend for a second property has also been lowered to 60 per cent of the home’s value.

Source : The Malaysian Insider

Unduk Ngadau 2009 ~ Ms. Rowena

Photo source : http://blog.malaysia-asia.my/

Property market shows signs of slowdown

noreply@blogger.com (Ms. Anne) — Tue, 01 Mar 2011 08:30:00 +0000

The Malaysian Insider in its 1 March 2011 edition reported that the property market is showing signs of decline, as indicated by rents and capital values for prime areas (I believe in Kuala Lumpur).

What about Sabah, in particular Kota Kinabalu?

This is the article as published in The Malaysian Insider. Enjoy reading...

Property market shows signs of slowdown
By Lee Wei Lian
March 01, 2011

KUALA LUMPUR, March 1 — The property market has either gone flat or is showing signs of decline, as indicated by rents and capital values for prime areas.

The market, especially the high-end segment, appears to be feeling the pinch of oversupply and the tightening measures on investment.

Figures in a report by property consultancy DTZ Research released in January shows that rental rates for commercial property were on a downward trend last year dropping from RM6 per square foot (psf) in the second quarter to RM5.97 in the fourth quarter.

Office occupancy rates also fell from 87.9 per cent in the second quarter to 86.4 per cent in the fourth quarter.

“The outlook for the (commerical property) sector is expected to remain soft in the next few years as it will take time to increase demand with these new initiatives while there is a substantial amount of new supply, most of which is of a speculative nature,” said the DTZ report.

Meanwhile the average capital value of prime condominiums declined slightly from RM600 psf in the third quarter to RM599 in the fourth quarter.

DTZ pointed out that Bank Negara had mandated a 70 per cent cap on the loan-to-value ratio (LVR) for a purchase of a third residential property, down from 80-90 per cent and this could affect the high end property market in the coming months.

“This (the 70 per cent LVR cap) will have some negative impact on the high-end segment where buying has been concentrated,” said the report.

Property agent Melvin Wong says however that the slowdown will not likely affect affordable properties in the RM300,000 to RM400,000 range.

“The 70 per cent LVR cap doesn”t affect first time home-buyers,” he said. “The government is trying to curb speculation in the higher end segment of the market and those are the properties which might see a slowdown.”

Read more here

You may want to read my earlier posts ...
1. 70% financing for third and subsequent Home Loan
2. Sabah Property Market is Promising
3. It is still a Buyer's Market
4. RM542M Sabah Properties Unsold

Bundusan Perdana Apartments

noreply@blogger.com (Ms. Anne) — Thu, 24 Feb 2011 15:40:00 +0000

Good news!
Bundusan Perdana Apartment is now open for registration.

Bundusan Perdana Apartment - Image courtesy of SPNB

Where is it located?
Off Jalan Bundusan / Duta, Penampang, Sabah. About 7 km from Kota Kinabalu city centre. If you are familiar with Jalan Bundusan area, it is in front of Mayflower Restaurant.

Who is the developer?
Syarikat Perumahan Negara Berhad (SPNB)

Type of properties available

A. 8 Storey Medium Cost Apartment
1. Floor size : 850 square feet
2. Price from RM158,080.00
3. No. of units available : 48

B. 11 Storey Medium Cost Apartment
1. Floor size : 850 square feet
2. Price from RM158,080.00
3. No. of units available : 1122

You can register for this project at this link ~ Registration

There is not much info available at this moment as the website is not updated; no floor plan, location map, specifications, etc. You can check the project here.

For further information about this housing project, please contact the Sales Office at 088-455 283 / 284.

You may want to buy your own home at the Putatan Platinum Apartment ~ another housing project by SPNB

EPF declares dividend of 5.8% for 2010

noreply@blogger.com (Ms. Anne) — Sun, 20 Feb 2011 10:21:00 +0000

Finally the moment we have been waiting for has come...
The Employees Provident Fund (EPF) has declared a dividend of 5.8 percent for 2010.

I was wrong...I predicted a return of 5.95% ~ read my earlier post on EPF dividend 2010 posted on 7 February 2011. It looks like the Quarter 4 Income was not that high as I expected i.e. RM5.50 billion.

Read the news from the Star online

EPF declares higher dividend of 5.8% for 2010

KUALA LUMPUR: The Employees Provident Fund (EPF) has declared a dividend of 5.8 percent for 2010, up from 5.65 percent declared the year before, buoyed primarily by good performance in the equities market.

“The remarkable investment income achieved in 2010 was especially driven by the performance of equity investments,” said EPF Chairman Tan Sri Samsudin Osman in a statement on Sunday.

“The improved financial and economic conditions provided the market with sufficient liquidity, allowing profit taking activities throughout the year.

“The dividend amount paid out is derived after deducting net impairment allowance on financial assets, investment expenses, operating expenditures and statutory charges as well as dividend on withdrawals,” he said.

EPF will be paying out a total of RM21.61bil to members, an increase from the 2009 dividend payout of RM19.37bil.

The dividend rate of 5.8 percent underscores an impressive year in which gross investment income reached a historical high of RM24.06bil, reflecting a 39.76 percent increase over the RM17.22bil gross investment income recorded in 2009, the statement said.

For the year under review, a total of RM10.94bil was earned from equities, a significant increase from RM4.85bil earned in 2009.

Loans and bonds were the second largest investment income contributor in 2010, recording RM7.02bil in gross investment income, compared to RM6.63bil posted the previous year.

Malaysian Government Securities was the third largest income earner for the year contributing RM5.30bil compared to RM5.22bil in 2009.

The year 2010 saw about two-thirds of EPF’s total investment assets remaining in low-risk fixed income instruments with stable streams of income.

“As a retirement fund, our primary objective is the preservation of capital while at the same time adding value to members’ retirement savings. In pursuit of this objective, we will continue to adopt a prudent investment approach,” Samsudin said.

Members can check their EPF Account Statement for the crediting of the 2010 dividend, either via EPF Kiosks, counters or i-Akaun, from Monday, 21 February 2011.

Source : The Star Online

Putatan Platinum Apartments

noreply@blogger.com (Ms. Anne) — Wed, 16 Feb 2011 07:29:00 +0000

OC will be obtained soon! (advertisement caption as appeared in the local newspapers)

Located in the heart of Putatan township, about 9 kilometers from Kota Kinabalu City Centre ~ A walking distance to One (1) Place Mall (the township's first shopping mall), 2 hypermarkets, namely Servay and Giant, INTI College Sabah, banks and other commercial shoplots. Click here to see this area in Google Maps.

Putatan Platinum Apartments consists of 5 blocks of 12 storey apartments with condominium facilities. It is being developed by Syarikat Perumahan Negara Berhad (SPNB) and Kinsanuri Sdn. Bhd. Altogether it has 1,012 apartment units; Block A (220 units), B (220 units), C (220 units), D (220 units) & E (132 units).

With a built up / floor area of 850 square feet (excluding the yard / dry area), it comes with 3 bedrooms, 2 bathrooms, living & dining area, kitchen and a dry / yard area.

Price from RM158K to RM201K.
As usual 30% Reserved / 5% Discount for Bumiputera!

Facilities : Club House, Lift, Swimming pool, Gymnasium, Badminton / Tennis court, Covered parking / Basement Car Park, Children Playground, Jogging track, 24 hour security, Cable TV, etc.

As usual 30% Reserved / 5% Discount for Bumiputera!

For more info, call Advance Property Consultant at 014 - 679 0568

You may want to read my earlier post on Flat, Apartment and Condominium.

EPF dividend 2010

noreply@blogger.com (Ms. Anne) — Mon, 07 Feb 2011 08:54:00 +0000

The Employees Provident Fund (EPF) Board, with the approval of the Minister of Finance, has declared a dividend rate of 5.65 per cent for the financial year ended 31 December 2009. The dividend rate was declared on the back of the highest ever net income achieved of RM19.63 billion.

Extracted from the Press release (in respect of EPF Dividend for 2009) dated 5 march 2010. For full text click here

In a month from now (maybe less) we will know what the dividend rate will be like...I just can't wait to hear from the EPF Board.
Based on my own prediction the dividend rate will be higher than the 5.65% declared last year. I am looking at 5.95% or maybe 6.00%. I want higher return on my EPF savings. What about you?

This is how I got my dividend rate for 2010

My own formula >>> Income attributable to EPF members in Current Year (Income CY) divide by Contributions Account in the Previous (CAPY) or simply
CY Income / CAPY

1. For 2008 Dividend
RM14.30 Billion (i.e. RM15.02 Billion - Reserve RM0.72 Billion) / RM317.32 Billion = 4.51% (Variance = -0.01%)
Note : Actual Dividend declared was 4.50%

2. For 2009 Dividend
RM19.62 Billion (i.e. RM19.65 Billion - Reserve RM0.03 Billion) / RM344.64 Billion = 5.69% (Variance = -0.04%)
Note : Actual Dividend declared was 5.65%

3. Estimated 2010 Dividend
a. Estimated CY Income = RM 22.27 billion (Q1 2010; RM5.55 billion + Q2 2010; RM5.47 billion + Q3 2010; RM5.75 billion + Q4 2010 ; RM5.50 billion (estimate))
b. CAPY = RM373.74 Billion
c. Dividend rate = 5.96 %

You may want to read this article from The Malaysian Insider...
EPF dividend creeps up to 5.85pc for 2010, says source

Come on EPF, give us higher return...make us happy :)

D'Vantage Apartment

noreply@blogger.com (Ms. Anne) — Fri, 28 Jan 2011 09:05:00 +0000

The best things in life happen here...

D'Vantage is a 10 storey 96 units Apartment...with its amenities and landscaped garden it will definitely allow you and your family to enjoy the city life in a serenity surrounding.

Built up area from 985 SF to 2,221 SF and selling price from RM264,100.00 to RM759,000.00. As usual 30% is reserved for Bumiputera with a 5% Discounts.

Amenities & Features:
1. 24 hours Security Services
2. CCTV
3. Digital Intercom System
4. Resident Access Card
5. Satellite Master Antena (Television System / Astro TV Cables)
6. Internet Broadband Connection
7. Rooftop Garden & BBQ area
8. Children Playground
9. Children Playroom

10. Gymnasium
11. Sauna
12. Yoga Corner

Floor Plan

Price List

Where is it located?

Who is the developer?
Fine Landmark Sdn Bhd. Check it out here

For enquiries. Please call 088 - 266 442, 088 - 266 450

Newly Launched Project. 30% Reserved / 5% Discount for Bumiputera!

Premiums on renewal of leases 3

noreply@blogger.com (Ms. Anne) — Fri, 31 Dec 2010 09:31:00 +0000

Happy New Year 2011 !

Good news for properties owners whose land leases may be expiring soon!

The Sabah State government has reduced the premium on lease renewal. The additional premiums for extension of land leases on houses has been lowered by 80 per cent and that for commercial and industrial properties by 45 per cent.

According to the report in the Daily Express (published on 30 December 2010), the Land office has used the new premium rate beginning this year (2010). But the formula use to calculate the premium was not made public. (Anyone who has any knowledge on this may share his / her view in the comment section)

You may want to read my earlier posts on this subject

1. Premiums on renewal of leases 2

2. Premiums on renewal of leases 1

Here is the full report as published in the Daily Express on 30 December 2010...

45-80pc discount on renewals

Kota Kinabalu: Good news for owners of both residential and commercial-cum-industrial properties in the State whose land leases may be expiring soon.

The additional premiums for extension of land leases on houses has been lowered by 80 per cent.

And that for commercial and industrial properties by 45 per cent.

Chief Minister Datuk Seri Musa Aman said the Land and Survey Department here used the new premium rate beginning this year.

"Such low premium rate for renewing extension of land leases for homes proves the State Government is dedicated and committed to realsising the people's needs to own their houses for a longer period.

We want also to make sure the new premium rate will not burden the houseowners but accommodate them to posses their homes when their land leases are almost expiring," he said.

Read the full text here Show/Hide

Musa, who is also Minister of Finance, said this in his speech at the launching of Wisma Tanah dan Ukur by Head of State Tun Ahmadshah Abdullah at its hall here, Wednesday.

Wisma Tanah and Ukur on 5.1-acre site is the first headquarters of the Land and Survey Department since its inception in 1882.

The previous building was deemed unsafe for the staff to carry out their duties.

Hence, the new headquarter for the department, Wisma Tanah and Ukur was constructed and became operational in 2007.

Also present were Federal Deputy Minister of Natural Resources and Environment Tan Sri Joseph Kurup, Minister in the Chief Minister's Department Datuk Nasir Tun Sakaran Dandai, State Secretary Datuk Sukarti Wakiman, Federal Secretary for Sabah,s Datuk Mohamad Hatta and Sabah Land and Survey director Datuk Osman Jamal.

On changing land use from agriculture to housing, commercial and industry, Musa said the additional premium rate for such purpose has been reduced since April 2008.

The move was aimed at ensuring the property market is maintained at a level where the majority of Sabahans can afford to own and purchase them.

Through the Government Transportation Programme (GTP) under a lab for Bumiputera Sabah and Sarawak, Musa said the Government is committed to ensure Native Customary Right Land is issued with individual titles or communal titles.

"Through Sabah Land Information System (SALIS), the State Government will set up an Idle Native Land Bank to record land acreage about 140,000ha.

"This will facilitate implementing agencies like Sabah Land Development Board (SLDB) and Sabah Rubber Industry Board (LIGS) to make plans of developing the lands on commercial scale through a joint venture with the land owners. By doing this, such development plans on the idle land could have positive impact to enhancement of the people's socio-economic and State's economic growth," he said.

Therefore, Musa said the effort of Land and Survey Department to establish a Unit for State Customary Land is very timely to ensure the success of GTP under the Bumiputera Lab for Sabah.

He also commended the success of building Wisma Tanah dan Ukur that reflected the State Government's high commitment in ensuring efficiency and effectiveness of public delivery system, increasing land revenue and providing conducive working environment to the Land and Survey Department staff to give best service to the clients.

Musa said he was impressed with management level of the department in upgrading its services to public and reducing bureaucracies to expedite official land matters.

Among the services are shortening the time of processing land surveying for issuance of land titles, creating a new method for Temporary of Lease application for sand and stone extraction from the river and land.

This also includes, he said, speeding up processing work for land dealings registration using a system of Land Dealings Electronic Submission System (LADESS).

Without stating the amount, Musa also expressed satisfaction with the department's collection of land revenue collection for November, which was the highest ever achieved by the department.

He also called on the department to intensify its law enforcement on offences involving encroachment into State lands, illegal extractions of stones and sand, digging on land without permit and pollution to environment so as to safeguard the State's natural resources form further destruction.
Source : Daily Express

Through the sheer weight of his personality, Jose Mourinho willed Inter to unexpected glory with Italy's first treble victory.
Source : Yahoo! Sports

Dividend & Bonus ASB 2010

noreply@blogger.com (Ms. Anne) — Tue, 21 Dec 2010 06:44:00 +0000

Good news for ASB investors. Amanah Saham Nasional Bhd (ASNB) has announced an income distribution of 7.50 sen per unit (an increase of 0.20 sen from last year) and a bonus of 1.25 sen per unit for Skim Amanah Saham Bumiputera (ASB), for the financial year ending Dec 31, 2010.

Last year, the government-owned fund manager declared an income distribution of 7.30 sen per unit and a bonus of 1.25 sen per unit.

New policy on land lease extensions

noreply@blogger.com (Ms. Anne) — Thu, 02 Dec 2010 00:23:00 +0000

In case you did not read today's news in The Star Online...

Lease extensions to 99 years

State governments can approve applications for renewal or extension of leasehold land for a period of not more than 99 years unless they require the land for public purposes.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said all state governments had agreed to adhere to the new policy.

“The implementation of this policy would fulfill the needs of the rakyat who are worried about losing their land titles,” he told reporters after chairing the 66th National Land Council meeting here yesterday.

He said the policy, which was decided during the meeting, would be used as a guide with several conditions which include:

1. leasehold land under the categories “building”, “industrial” or “agriculture” for which owners can apply at any time to extend their lease and are not bound by the remainder of the lease period;
2. applicants are required to make simultaneous applications in order to surrender their land in accordance with Section 197 of the National Land Code and apply for alienation using Form Schedule 1 of the respective State Land Rules and existing rules and procedures under the National Land Code 1965;
3. extension of the new lease is not more than 99 years if the land is not required by the government for public purposes;
4. it is subject to imposition of relevant fees;
5. the new period of the lease is effective from the date of the registration of the new title; and
6. it is not contrary to any written laws that are enforced.

Source : The Star online (By IZATUN SHARI ~ Published on Thursday December 2, 2010)

Premiums on renewal of leases 2

noreply@blogger.com (Ms. Anne) — Wed, 24 Nov 2010 04:06:00 +0000

Have you checked the unexpired lease period of your property?
Do you know that a property with a shorter unexpired lease period normally fetches a lower value as banks do not normally offer financing.In addition, if you were to renew the lease the premium may become unaffordable (for many)!

Please refer to my earlier post on the same subject : Premiums on renewal of leases

Image source : http://www.dailymail.co.uk/news/article-1330976/Cheerleaders-bikinis-blamed-putting-team-Asian-Games.html

As I was reading the news in the Daily Express (one of my favourite online news portals) I found an interesting article related to the issue of land lease renewal premium which I would like to share with...

here it goes...

Kolombong landowners worried premium may be excessive: SAPP

Kota Kinabalu: Sabah Progressive Party (SAPP) said landowners at the Kolombong area are worried that the State Government will charge excessive premium for extension of their title deeds.

Former SAPP Treasurer-General, Datuk Wong Yit Ming, pointed out that the BN Government had promised to extend their title deeds and that the premium would be so affordable that every landowner will be able to pay for it.

According to the landowners most of the title leases in Kolombong area will expire in the next 10 years.

At the moment, most of the banks or financial institutions refuse to give loans to the landowners unless they can extend their title lease to another 30 years.

Wong also said that when some of the landowners approached the Natural Resource Office in the Chief Minister's Department to renew their lease titles for another 60 years, they were told that the premium required for the extension of lease title is very much higher than the amount promised.

"Some of the landowners cannot even afford to pay for the premium requirement.

They all feel cheated and upset that the BN Government cannot fulfil their promises.

"SAPP calls on the State Government to speed up the renewal of Kolombong land titles seriously and the State Government to be fair in charging premium in order to help the landowners extend their title deeds," he said.

Source : Daily Express, Published on: Tuesday, November 23, 2010

Other related news you may want to read (all from the Daily Express online news):
1. Land lease extension issue for discussion with Dept
2. Rate set to renew lease too high: DAP
3. Sari denies higher premium for Kolombong land
4. Kolombong land lease extended to 99 years
5. Widow's 18-year futile wait to renew land lease

Have you read my earlier post on the same topic? Here is the link Premiums on renewal of leases

In case you did not know

noreply@blogger.com (Ms. Anne) — Thu, 18 Nov 2010 08:06:00 +0000

EPF has just announced that employees monthly statutory contribution rate will be reverted to 11 percent with effect from January 2011 salary. Those who opted out of this ruling will not have any effect.

EPF Employee Contribution Rate Back to 11 Per Cent January 2011

The Employees Provident Fund (EPF) monthly statutory contribution rate for employees will revert to 11 per cent from 8 per cent with effect from January 2011 wage and the contribution to be paid to the EPF from February 2011 onwards.

The employees’ statutory rate was lowered for a two-year period from 11 per cent to 8 per cent beginning January 2009 to December 2010 wage.

Employers are advised to ensure that the correct amounts are deducted from the employees’ wages based on the new contribution rate and remitted to the EPF starting from February 2011 contributions.

Members who had previously submitted Form KWSP 17A (AHL) Khas/KWSP 17AA Khas to maintain the contribution rate at 11 per cent during the two-year period would not need to take further action.

The employers’ share of the monthly contribution to the EPF remains at 12 per cent.

Employers who need more information may visit the nearest EPF branch, contact EPF Call Centre at 03-8922 6000, or post their enquiries via myEPF website at Enquiry.

(NIK AFFENDI JAAFAR)
General Manager
Public Relations
Employees Provident Fund

Date: 18 November 2010

Source: EPF Website

70% financing for third and subsequent Home Loan

noreply@blogger.com (Ms. Anne) — Thu, 04 Nov 2010 06:45:00 +0000

Hi there.
Bank Negara Malaysia (BNM) has just announced the implementation of a maximum loan-to-value (LTV) ratio of 70%, which will be applicable to the third house financing facility taken out by a borrower.

I personally view this as a good measure to curb excessive speculation on property prices as one needs to come up with a higher downpayment of 30% from the current minimum of 10% to own the third and subsequent home. Of course, for the cash rich, the new ruling does not affect them.

BNM Press Statements on Measures in Promoting a Stable and Sustainable Property Market and Sound Financial and Debt Management of Households

Bank Negara Malaysia wishes to announce with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70%, which will be applicable to the third house financing facility taken out by a borrower. Financing facilities for purchase of the first and second homes are not affected and borrowers will continue to be able to obtain financing for these purchases at the present prevailing LTV level applied by individual banks based on their internal credit policies. The measure aims to support a stable and sustainable property market, and promote the continued affordability of homes for the general public.

At the national level, residential property prices have increased steadily in tandem with economic development and the rise in income levels. This aggregate growth trend remains largely manageable and has not deviated from the long term trend in residential property prices. In the more recent period, however, specific locations, particularly in and around urban centres, have experienced faster growth, both in the number of transactions and in house prices. This is further supported by an increase in financing provided for multiple unit purchases by a single borrower, suggesting increasing investment activity that is of a speculative nature.

The targeted implementation of the LTV ratio is expected to moderate the excessive investment and speculative activity in the residential property market which has resulted in higher than average price increases in such locations. This has also led to increases in house prices in surrounding locations, thus contributing to the declining overall affordability of homes for genuine house buyers. This measure therefore remains supportive of the objective of encouraging home ownership among Malaysians which continues to be an important national agenda.

Read the full text here Show/Hide

You may want to read my earlier post
1. High Cost of Materials and Land Value Blamed for City’s Expensive Properties
2. Property Prices in Kota Kinabalu
3. Newly Launched Project. 30% Reserved / 5% Discount for Bumiputera!

Image source : shanghaiist

I'm looking forward to see The Monkey King movie in 3D to be released in 2012.

Warehouse / Land wanted

noreply@blogger.com (Ms. Anne) — Wed, 15 Sep 2010 05:54:00 +0000

I received a request sent through the Bravenet Email Form Processing from one Mr. Ting who was Looking for warehouse or land (10,000 SF above) around inanam area and likas road. Priorty is roadside, 2nd lot can do, provided road access.

If anyone of you who happens to land on this page / has such information, please call Mr. Ting at 013-8181777

Image source : Yahoo Sports (Timothy A. Clary/AFP Photo)

Congrats to Rafael Nadal for winning the US Open and achieving the Career Grand Slam and Career Golden Slam!

Sabah Properties - Auction Sale

noreply@blogger.com (Ms. Anne) — Fri, 30 Jul 2010 07:43:00 +0000

You want to buy property at a discounted price? Well, here is the link to the Sabah Auction Schedule provided by Property Auction House Sdn. Bhd. Good luck!

Your ad has been removed

noreply@blogger.com (Ms. Anne) — Wed, 16 Jun 2010 04:37:00 +0000

A : Don't you aware of the necessity and obligation to get permission from a person before you 'use' his/her name and contact for whatever purpose? Do you know that an advertisement means publishing of information only while it serves the needs and effective period? I want to tell you that you have caused inconveniences to me and other advertisers and also the readers for contacting each other for deals which are no longer valid and not proceedable? I wonder what benefit such 'favors' will bring you? Could that be just for fun and unconsious about respobility and sensibility?

B : I did not know that, sorry :p

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This blog and/or website and the materials are provided "as is" and "as available", without warranty of any kind, implied, express or statutory. The owner of this blog/website does not warrant the accuracy, adequacy or completeness of this blog and/or website and/or the materials and expressly disclaims liability for errors or omissions in the Materials. The content available here represents the opinions and judgments of the respective information provider.

Premiums on renewal of leases

noreply@blogger.com (Ms. Anne) — Sun, 23 May 2010 06:33:00 +0000

Image source from http://undukngadau.com/blog/

Hi readers :)

Do you know that for a property with a lease period of 99 years or shorter, you do not really "own" that property as you are merely renting it from the government for a specified period.

Have you checked the unexpired lease period of your property?
Do you know that a property with a shorter unexpired lease period normally fetches a lower value as banks do not normally offer financing.

If it is expiring soon, have you calculated the premium payable to the Land Office? Do you know how to calculate the premium payable?
for Sabah I guess it is something like ...

0.5% x the Market Value of the property(ie. land) x the number of years you want to renew the lease

(if you happen to know the correct formula, do share, thanks)
eg. say the market value of the land is RM500K, and you want to renew the lease for another 60 years...so the premium payable is 0.5 % x RM500K x 60 years = RM150K. Quite expensive huh!

Please remember do not spend too much on a building that sits on a land with an expiring lease period (unless you are filthy rich and don't bother). Why? the property will be transferred to the Land office / government upon the lease period expires... so think about it

Do you know that Sarawak government fixes the premiums on renewal of leases effective 15 May 2010. So what is new over there ?

For residential properties. the new rates are RM1,000 for a terrace house, RM3,000 (semi-detached) and RM6,000 (detached).

For shophouses, the rates are RM40,000 per unit in Kuching, Sibu, Miri and Bintulu; RM20,000 for Sarikei, Sri Aman, Kapit, Limbang, Mukah, Betong and Samarahan, and for rural towns of Lundu, Asajaya, Niah, Marudi and the likes, RM10,000 per unit.

Note that the new policy will cover renewals for 60 years.

Read all about it here
Sarawak govt fixes premiums on renewal of leases
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Apartment / Condominium wanted

noreply@blogger.com (Ms. Anne) — Mon, 10 May 2010 05:53:00 +0000

"I want to buy Apartment/ Condominium in Penampang area or Likas area"

...that was the message I received through Bravenet Form processor from one Ms. Wong who was looking for an apartment / a condominium for sale. Anyone of you who has such information please assist her. You may contact her at 012 - 832 8869 or through email at skyweb.fion@gmail.com

Thanks!

Taman Wangsa Telipok - Auction Sale 19 March 2010

noreply@blogger.com (Ms. Anne) — Sun, 07 Mar 2010 09:32:00 +0000

To those of you who are looking for an apartment at Telipok area. This is a chance for you to own one at a very reasonable price. 5 apartment units will go under the hammer on the 19 March 2010.

The floor area for intermediate unit is 1,007 SF and for a corner unit is 1,164 SF. The reserved price ranges from RM87K to RM105K depending on the locations / sizes.

One of the five units under auction. Click the image to enlarge.

Interested? Call Property Auction House at 088 - 221 262.
Good luck to you!

Image source : Property Auction House Sdn. Bhd.