Living in JB 2 (Johore)

[Investor]

I tend to agree more with this. Even in 2009, there were initiatives given to help businesses and we recovered much faster than we anticipated, because we were more prepared.

It's now the winter before spring. If gov forces people out and relocate to overseas, when spring comes, it will be super hard to welcome them back during spring.

Hi DoA,

Our Government will definitely not force businesses out, in fact they'll be brainstorming on ways to retain these businesses as mention by Teck.
It's already out in the news, one of the ways is to collaborate with Iskandar. Lee Hsien Loong has made it clear that he doesn't see Iskandar as a competition.

“Singapore sees it very much in our interest that Iskandar prospers and succeeds. It has been doing well in attracting investment but most importantly so if we can develop linkages between Singapore and Iskandar.”

Lee was referring to the Singapore proposal for a new work group on industrial cooperation to promote mutually beneficial twinning of economic activities between Iskandar and Singapore.

Singapore is facing space and manpower constraints which are in abundance in Iskandar.

Lee wants Iskandar to provide the facilities and infrastructure to enable projects’ expansion which Singapore cannot do or projects which want to come to Singapore but can’t be accommodated.

In that sense, Singapore's government will even be promoting Iskandar's competitive advantage when they are trying to woo big businesses into Singapore.

 

[Investor]

Our leader is looking at things in the big picture.

When trying to woo big investments into Singapore, we promote Singapore's and Iskandar's competitiveness as a whole/as a region/as one.
Singapore has to promote ourselves this way(by including Iskandar's low business cost as an attraction) because businesses around the world are looking at business cost seriously due to the crisis.

Thus, I still think that this crisis might help Iskandar.

 

[idaman]

why don't anyone invest in REIT instead?
Many REITS now have yield around 8%-9% and the REIT could be a good portfolio such as Suntec City Malls.

 

[darrkie.y]

hi guys. does anyone know if the new road over at setia indah when open?

 

[LGLab]

I sort of need help now:-

The property agent asking me to hand over 14% of which 85% of the loan has been approved.

14% of 620000RM is 86800 RM and equivalent to approximately $36,166 sing dollars.

what is the best way for me to transfer this amount of $$ over? ..

1)remit right into the lawyer account

2) remit to my own malaysia account but i got to capped at 10K SGD per remit and will be charged $10 for administrative charge.

3) withdraw cash in singapore and then bring it over to Malaysia bank and deposit it?

i know the 3rd is the most non-feasible but it does not suffer exchange rate loss..

 

[Investor]

I sort of need help now:-

The property agent asking me to hand over 14% of which 85% of the loan has been approved.

14% of 620000RM is 86800 RM and equivalent to approximately $36,166 sing dollars.

what is the best way for me to transfer this amount of $$ over? ..

1)remit right into the lawyer account

2) remit to my own malaysia account but i got to capped at 10K SGD per remit and will be charged $10 for administrative charge.

3) withdraw cash in singapore and then bring it over to Malaysia bank and deposit it?

i know the 3rd is the most non-feasible but it does not suffer exchange rate loss..

Hi LGLab,

Since your concern is to secure the best exchange rate. Do take note that you'll get an even better rate from the same money changer if you were to request for TT of the MYR to Malaysia instead of getting the MYR in cash.

SGD $36k is not really a big amount for reputable money changers in Singapore. If you're worried, I suggest that you go to Parkway Parade and split this amount to 3 different money changers(thus S$12k each) namely;
1) Sino MoneyChanger Pte Ltd (#01-01)
2) Yakadir Pte Ltd ( #01-91)
3) EverPeace Money Changer Pte Ltd (#01-15/16)

I've compared the above 3 money changers a few times before and Sino will always quote you the best rate without negotiation.
Use Sino's rate to request the other 2 money changers to match that rate.
Yakadir might be reluctant to match because S$12k isn't a big amount. They might wanna charge you S$10 service fee but can be waived if you negotiate.
EverPeace will normally give you a slightly better rate after you quote them Sino's rate(their initiate rate sucks but are willing to give better than competitors if you ask).
Both Sino and EverPeace won't be charging S$10 service fee as your amount is not too small.

 

[Whathefish]

Has anyone tried before remittance via online? I.e. request remittance to Remittance/Money Changer Coy, and then do online bank transfer to its' account?
http://www.raffles1.net/remittance.asp

Anyway to ensure it's safe?

I'm tired of using the change cash-> deposit at malaysia ATM mode.

 

[Investor]

Has anyone tried before remittance via online? I.e. request remittance to Remittance/Money Changer Coy, and then do online bank transfer to its' account?
http://www.raffles1.net/remittance.asp

Anyway to ensure it's safe?

I'm tired of using the change cash-> deposit at malaysia ATM mode.

You don't need to change Ringgit in Singapore and bring it over by yourself. Many people mistaken that they are securing the best rate by buying Ringgit in cash. You'll get better rate from the same money changer by requesting them to do TT of the Ringgit to your Malaysia account for you instead of getting the Ringgit in cash(provided that the same money changer has TT facility). Other than getting a better rate, you'll also save the trouble, the risk, the petrol cost, the toll charges, the time, the etc etc...

 

[avelc]

Has anyone tried before remittance via online? I.e. request remittance to Remittance/Money Changer Coy, and then do online bank transfer to its' account?
http://www.raffles1.net/remittance.asp

Anyway to ensure it's safe?

I'm tired of using the change cash-> deposit at malaysia ATM mode.

Used them recently at Collyer Quay, but gave them Sgd in cash and negotiated a slightly better rate than published. As others have pointed out, TT rate is better than cash.

 

[Investor]

Used them recently at Collyer Quay, but gave them Sgd in cash and negotiated a slightly better rate than published. As others have pointed out, TT rate is better than cash.

TT rates from reputable companies like Raffles1, MoneyWorld Asia and Travelex Global are not as good as smaller size money changers like those in Arcade and Parkway Parade.
I meant that you're already getting very good exchange rate from money changers in Arcade and Parkway by buying Ringgit in cash, but if you request for TT instead of buying Ringgit in cash from the same money changer, they'll give you even better rate.

 

[Whathefish]

Ah, i was using wrong methods for so long lol.

How about online remittance? My worry is how they traced and match the remittance request to the bank transfer money.

Anyone tried before? if online mode is safe i might consider, save a lot of hassle.

 

[Investor]

Ah, i was using wrong methods for so long lol.

How about online remittance? My worry is how they traced and match the remittance request to the bank transfer money.

Anyone tried before? if online mode is safe i might consider, save a lot of hassle.

Not the best rate but good and convenient for small amount. Better rate is good if amount is bigger.

 

[Investor]

Ah, i was using wrong methods for so long lol.

How about online remittance? My worry is how they traced and match the remittance request to the bank transfer money.

Anyone tried before? if online mode is safe i might consider, save a lot of hassle.

But if the amount is small and the savings isn't much, why not use bank since it's the safest?
I'm using money changers as I've calculated that I can save around RM24,000 from exchange rate compared to using bank's rate(based on full amount paid for my units).

 

[arsenal]

Hi WhatTheFish,

I used Raffles1 and their rate is very good. I prefer write them a cheque and get a receipt from them during the transfer.

Has anyone tried before remittance via online? I.e. request remittance to Remittance/Money Changer Coy, and then do online bank transfer to its' account?
http://www.raffles1.net/remittance.asp

Anyway to ensure it's safe?

I'm tired of using the change cash-> deposit at malaysia ATM mode.

 

[LGLab]

Hi WhatTheFish,

I used Raffles1 and their rate is very good. I prefer write them a cheque and get a receipt from them during the transfer.

do u recommend this?.. if this is the case, i will head down..

so for example, now the rate is 242rm - most likely i will be able to get the same amount being remitted when i look at it from malaysia bank?..

there is 1 more saying that we can only transact 10k per transaction, is that true?..

 

[LGLab]

Hi LGLab,

Since your concern is to secure the best exchange rate. Do take note that you'll get an even better rate from the same money changer if you were to request for TT of the MYR to Malaysia instead of getting the MYR in cash.

SGD $36k is not really a big amount for reputable money changers in Singapore. If you're worried, I suggest that you go to Parkway Parade and split this amount to 3 different money changers(thus S$12k each) namely;
1) Sino MoneyChanger Pte Ltd (#01-01)
2) Yakadir Pte Ltd ( #01-91)
3) EverPeace Money Changer Pte Ltd (#01-15/16)

I've compared the above 3 money changers a few times before and Sino will always quote you the best rate without negotiation.
Use Sino's rate to request the other 2 money changers to match that rate.
Yakadir might be reluctant to match because S$12k isn't a big amount. They might wanna charge you S$10 service fee but can be waived if you negotiate.
EverPeace will normally give you a slightly better rate after you quote them Sino's rate(their initiate rate sucks but are willing to give better than competitors if you ask).
Both Sino and EverPeace won't be charging S$10 service fee as your amount is not too small.

thanks for your feedback, does it mean that i do not have to pay $10 ?..

i heard we can only remit max of 10k?.. is that true?

 

[Aisanbo]

thanks for your feedback, does it mean that i do not have to pay $10 ?..

i heard we can only remit max of 10k?.. is that true?

You can remit $36k at one go and incur a $10 fee. Dun need to split into 3 different transactions lah.
I assume you're not Malaysian, in which case the remittance company would deposit RM10k per day for 9 days till the amount is reached.
But I dealt with remittance company before, not money changers.
The exchange rate for remittance is better than exchanging SGD to RM.

 

[Investor]

thanks for your feedback, does it mean that i do not have to pay $10 ?..

i heard we can only remit max of 10k?.. is that true?

Yes, don't need to pay S$10 fee.
Yes there's a deposit limit of RM10k per day for foreigners' account. If your amount is more than RM10k, the remittance company will deposit RM10k for you per day.
No limit via some banks(eg. DBS) and remittance companies(eg. Travelex Global).
I think the reason is because DBS actually TT SGD to Malaysia instead of MYR. The bank in Malaysia will then convert the SGD to MYR based on their rate, thus no limit.

 

[contra]

Hi,

All my houses in HH and EL are tenanted out. I am now looking into investing in Ledang Hts and Leisure Farm as they really offer much higher capital appreciation in the long term. Recently when I am staying in JB, I would be hopping around my relatives houses around the various taman or in hotels The weekdays jams at Tuas seem to be getting more and more unbearable. When I first try using Tuas about 5 years ago, it was a ghost town. Just 1.5 year ago, its still quiet. At 8pm on a weekday night I can cross Tuas first in line back to my house near Perling as it is already a ghost town after 8pm. Now the time has dragged to around 9pm plus .. Friday is worse. Weekday morning now I feel as stressed living in JB as the jam at petrol stations and custom is turning me off. When EL and HH, Bukit Indah etc and other towns finish construction in 2-3 years time and if there is no 3rd link nearby, Tuas will surely be like Woodlands.

If you stay in places near Bukit Indah, weekends now is too chaotic. The traffic is jammed-packed, esp those near Jusco. Very stressful for me. Not that I prefer to stay in my Spore home becos it is equally crowded, being near Orchard road. However in Spore, traffic and motorists are generally law-abiding even with jams. I can accept Tuas jams but I just cannot accept those pesty Q-cutters who migrated to Tuas from woodlands.

Last time Tuas checkpoint is really a wonderful place for the cultured drivers. I guess they did a wrong move to lower the tolls to increase volume

Hi horizonhills,

I like it that you always tell it like it is. People need to go in with eyes open.

Appreciate if you could you share why, inspite of the increasing traffic, you are still optimistic enough that capital appreciation will happen that you are going to the extent of looking to invest in even more premium areas such as Ledang Heights & Leisure Farm?

Are you by any chance trying to talk down the market so that you can swoop in to scoop good prices?

 

[contra]

I see it as a possibility that this crisis might actually boost Iskandar's development instead of slowing it down.
The reason being that during a crisis, many businesses suffer losses and are forced to find ways to cut cost in order to survive.
The most direct and immediate actions which can be done are eg. retrenchment or reduction of salaries etc.
If such measures are not enough for them to survive a long crisis, one other way is to relocate to a much cheaper location.
Thus the longer this crisis is, the more we'll see businesses being forced by circumstances to relocate to cheaper locations urgently(a big decision which they might not see as necessary during good times).
This crisis will become a push factor for businesses in Singapore to relocate. One very attractive location is Iskandar.
The recent news of further collaborations between Singapore and Malaysia and our leader's support on Iskandar had further helped businesses in making the 'go' decision which they previously perceived as too risky(political risk in Malaysia).

All in all, there are;
1) Crisis's push factor
2) Singapore leader's 'endorsement' factor
3) Iskandar's pull factor (low cost)

Hi Investor,

Actually in reality, during a crisis, companies try to delay capital expenditure. So I do not think the coming financial crisis will be an immediate boost for Iskandar.

Iskandar has always been positioned as a long-term-horizon project. So businesses will need to take a long term view to move to Iskandar, not just as a reaction to a crisis.

There are many other factors why companies choose Singapore inspite of higher labour and rental costs. Key of this factor is the ease to do business, from gov incentives to capital controls and 'easy' labour regulations. I must say Malaysia is still much more complicated in all of these esp labour. But I believe the Malaysian Gov is doing all it can to change this to be as business-friendly as Singapore. Just that we have to give it time.

(On the side, Nokia's moving to Beijing is quite specific and not really cost-drive. Mobile phone tech capital of the world is China, being the world's biggest market. Bigger plus is Microsoft R&D is in Beijing, so they go where their key partner is).


My point is Iskandar will grow well in the long term, but we have to be careful not to be too bullish in such a year as 2012. Iskandar's 'tipping point' is quite unfortunate timing as the impending global slowdown caused by Europe and US is seen as touching down this year as well, already affecting China .... buckle the seat belts.