Living in JB 3 (Johore)

[snowbird]

In the Sunday Times yesterday, it was reported that Petronas CEO warned the Malaysian Govt. that the contribution to the national coffers will drop by 37%, which translate to a shortfall of at least RM25billion and that was based on US$75!
He suggested that the administration should relook and rebalance the Budget asap.
But today, the crude plummet even further to US$67!
With more than RM25 billions lesser to spend, thing will certainly be bad and gloomy.
The removal of fuel subsidy did not provided any projected savings and the Govt. cannot pay their over bloated civil service staff lesser salary, so looks like some major projects like the HSR will be shelved for another year at least.
Petronas had also announced that their own spending will be cut to buffer the revenue shortfall.
So, that Pengerang Integrated Petroleum Complex, the single biggest project in Johor, which is supposed to bring in tens of thousands of workers and residents will probably be delayed little longer.
In turn, tens of thousands of housing units looking for tenants with anticipation of the completion of PICC, will also have to wait a little longer too.

 

[RedsYNWA]

In the Sunday Times yesterday, it was reported that Petronas CEO warned the Malaysian Govt. that the contribution to the national coffers will drop by 37%, which translate to a shortfall of at least RM25billion and that was based on US$75!
He suggested that the administration should relook and rebalance the Budget asap.
But today, the crude plummet even further to US$67!
With more than RM25 billions lesser to spend, thing will certainly be bad and gloomy.
The removal of fuel subsidy did not provided any projected savings and the Govt. cannot pay their over bloated civil service staff lesser salary, so looks like some major projects like the HSR will be shelved for another year at least.
Petronas had also announced that their own spending will be cut to buffer the revenue shortfall.
So, that Pengerang Integrated Petroleum Complex, the single biggest project in Johor, which is supposed to bring in tens of thousands of workers and residents will probably be delayed little longer.
In turn, tens of thousands of housing units looking for tenants with anticipation of the completion of PICC, will also have to wait a little longer too.

My internal estimate is that RTS looks to be ard 2021-22, with HSR ard 2023-24 anyway. Oil prices rises/falls are part and parcel of the economic cycle. Life goes on. Building equity now is crucial, while we wait for the cycle to reverse. Property investment should always be a LT game anyway.

 

[FHBH12]

A few big projects in KL and low cost housing projects throughout MY are likely to be scrapped silently. I'm afraid property taxes might go up. Let's wait for RM to be hammered further to balance out the impact on us.

HSR is too expensive, political sensitive n tedious. SG is probably guessing implementation after 2030 internally. RTS may be still possible as SG can actually afford to loan MY for e entire project n land is already demarcated.

 

[Organic]

For skating lovers - SUTRA Mall Skating Rink Level 4 East Wing

 

[snowbird]

A few big projects in KL and low cost housing projects throughout MY are likely to be scrapped silently. I'm afraid property taxes might go up. Let's wait for RM to be hammered further to balance out the impact on us.

HSR is too expensive, political sensitive n tedious. SG is probably guessing implementation after 2030 internally. RTS may be still possible as SG can actually afford to loan MY for e entire project n land is already demarcated.

One of the main problem here is the super bloated civil service, the payroll allocation amounts to RM65.6 billion for Budget 2015!
That's also one of the similar problem that brought down the national carrier, and now with new management, found that they were actually overstaff by 6,000!
But then, they cannot trim the payroll or retrench staff for whatever reason and seeking so much extra revenue in such a short time is simply impossible so, cutting expenditure and shelving mega projects is the only way out.

Also, whenever there are problems in the country, especially now with a massive Budget deficit, you'll always see some SG bashing by the ruling politicians to divert attention.
Already recently, there were some noises about the water pricing with SG, so expect some hot action coming up soon.

 

[Jetstream]

Star 12/12/14

Johor to have new system to check factory pollution

*

PASIR GUDANG: Johor will introduce a new system to monitor air pollution in industrial areas.

State Health and Environment Committee chairman Datuk Ayub Rahmat said the system would be used in all factories in the state from January.

He said this was to adhere to the Environmental Act 1974 (Amendment 2014), as the Federal Government was emphasising more on a pollution-free environment.

“The Johor government will table a motion in the next State Assembly sitting to enable stricter enforcement against pollution.

“Among the methods we are looking at is introducing a system to better monitor air quality at factories,” he said after opening an environment seminar at a hotel here yesterday.

Ayub said the application for the system was locally designed and its main function would be to track down factories which were pollu*ting the air.

“The state government will be organising a roadshow to create awareness on this project,” he said.

He said the Department of Environment (DEA) had been finding it difficult to fine factories for air pollution.

“Each factory has its own application to check on air quality but they are able to manipulate some of the data which makes it difficult for the department to act against them,” he said.

Ayub said beginning next year, the department would conduct random checks at all factories.

He added that three factories were so far known to be among those polluting the air.

“We urge such factories to use green technology in their manufacturing process as it will help lessen the amount of pollution and keep the environment clean,’’ he said, adding that the errant ones would be slapped with maximum compounds.

 

[Manhattan]

It is legal to install electric fence. For info.

http://www.thestar.com.my/News/Nati...legally-install-electric-fence-says-engineer/

 

[FHBH12]

It is legal to install electric fence. For info.

http://www.thestar.com.my/News/Nati...legally-install-electric-fence-says-engineer/

Not advisable. Higher chance of self-inflicted accident. Grills n alarms within G&G shd be very sufficient unless you open door to strangers.

 

[Narmi]

Not advisable. Higher chance of self-inflicted accident. Grills n alarms within G&G shd be very sufficient unless you open door to strangers.

Ya lor eh like that might as well move to Alcatraz.

 

[PuteriWorld]

Finally Gerbang Nusajaya will come to life. Many people think Iskandar is under-developed simply because they see nothing when they enter from 2nd link. With Motorsport City, Ascendas projects and the development of the Asia Trade Centre, the sleeping tiger has been awakened.



Several major projects in Iskandar to start next year

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Dec 12, 2014
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Iskandar’s principal developer UEM Sunrise is set to work at a breakneck pace in Johor next year due to the start of several catalytic projects in Nusajaya, including the groundbreaking ceremony of Motorsports City in Gerbang Nusajaya.

With a gross development value (GDV) of RM40 billion, the 1,800ha Gerbang Nusajaya comprises industrial parks, campus offices, residential precincts, as well as lifestyle and retail parks, which will be built over five phases spanning 25 years.

In particular, its RM3.5 billion Motorsports City measuring 118 hectares will come with a 4.5km race track capable of hosting International races. It will also have a model automotive hub, consisting of car showrooms, retail units, F&B outlets, al fresco spaces and bonded warehouses, plus centres dedicated to the sales, services, spare parts and systems of various cars.

Another project that will break ground in 2015 is Nusajaya’s 207.6ha integrated eco-friendly technology park. Valued at RM3.7 billion, this development is a joint-venture with Singapore’s Ascendas Group.

“It is going to be another exciting year for us in Johor. The other exciting development is the Asian Trade Centre (ATC) – China Mall, which is akin to Dragon Mart in Dubai. ATC will be developed over 48ha and we are in the midst of getting approvals from the relevant authorities,” according to UEM Sunrise CEO and Managing Director Anwar Syahrin Abdul Ajib.

With a GDV of more than RM600 million, the mall cum trade centre will have an area of 1.4 million sq ft, housing over 3,000 retailers.

“We are developing activities and lifestyle and not just building homes at Gerbang Nusajaya. These developments, worth billions of ringgit, will create job opportunities and economic activities which will spur demand for new housing in Nusajaya. At a mature stage, Nusajaya is envisaged to be a self-sustained city and a choice location to live, work and play for both locals and the international community,” he said.

So far, about 10,000 properties valued at around RM10 billion have been built or are under construction in Nusajaya, an area which has an estimated GDV of RM24 billion, added Anwar.

 

[Manhattan]

Ya lor eh like that might as well move to Alcatraz.

Haha..indeed. I also want to live in a open concept house with no fence and gate like those we see in Hollywood movie, but reality bites. If it is reported in msia news, it must be a real situation where a number of households are considering.

 

[matix]

Haha..indeed. I also want to live in a open concept house with no fence and gate like those we see in Hollywood movie, but reality bites. If it is reported in msia news, it must be a real situation where a number of households are considering.

No need to go USA or Australia. Just buy a unit in East Ledang to have your dream house.

 

[Movingaway]

Hi all, was trying to search in forum about property tax for malaysia properties. I am taxed rm900+ for property value rm730K+.
is there a formula?

 

[Sagitarius]

No need to go USA or Australia. Just buy a unit in East Ledang to have your dream house.

I would agree if you're buying it to stay. Just happened to read an article and thought it's good to share it here, in particular:

"According to Malaysia’s Ministry of Finance, in the first half of 2013, only 1.5 percent of property transactions was above RM1 million in the Johor state. Those bought before 2014 with prices lower than RM1 million will have to wait for their properties to rise above that magic value of RM1 million until they can sell to foreign buyers.
Unlike Singapore, Iskandar is a test bed but not a tested market. Until recently, we have seen active buying but not active selling.
If one day properties with prices over RM1 million drop below the magic number of RM1 million, with all foreigners ineligible to buy, even if the locals are interested to take over, how many of them can afford the high quantum of these properties?
So stop asking me what I think of Malaysia or Iskandar properties. When everybody is talking about a hot market, it’s not the time to buy. It’s time to sell.
And don’t ask me again which project there is a good investment. Properties in any country can be a good investment. The key is the time and the price you enter the market. That is exactly the homework property investors need to do before they buy anything in any market" see the full article at:
https://my.news.yahoo.com/tough-times-ahead-iskandar-malaysia-properties-153737651.html

 

[PuteriWorld]

I would agree if you're buying it to stay. Just happened to read an article and thought it's good to share it here, in particular:

"According to Malaysia’s Ministry of Finance, in the first half of 2013, only 1.5 percent of property transactions was above RM1 million in the Johor state. Those bought before 2014 with prices lower than RM1 million will have to wait for their properties to rise above that magic value of RM1 million until they can sell to foreign buyers.
Unlike Singapore, Iskandar is a test bed but not a tested market. Until recently, we have seen active buying but not active selling.
If one day properties with prices over RM1 million drop below the magic number of RM1 million, with all foreigners ineligible to buy, even if the locals are interested to take over, how many of them can afford the high quantum of these properties?
So stop asking me what I think of Malaysia or Iskandar properties. When everybody is talking about a hot market, it’s not the time to buy. It’s time to sell.
And don’t ask me again which project there is a good investment. Properties in any country can be a good investment. The key is the time and the price you enter the market. That is exactly the homework property investors need to do before they buy anything in any market" see the full article at:
https://my.news.yahoo.com/tough-times-ahead-iskandar-malaysia-properties-153737651.html

If you are buying for your own stay or that of your family members, RM 1 m ( S$380,000 ) houses are relatively cheap as you can only get a 3-room flat in Singapore with this price. No life.
Regardless of whether market is going up or down, S$380K is a very good price for someone earning Sing dollars to stay in a reasonably big landed house

 

[okkidoggi]

If you are buying for your own stay or that of your family members, RM 1 m ( S$380,000 ) houses are relatively cheap as you can only get a 3-room flat in Singapore with this price. No life.
Regardless of whether market is going up or down, S$380K is a very good price for someone earning Sing dollars to stay in a reasonably big landed house

travel 2 hours to work, traffic jam every morning is not a good life.

 

[gooddebt]

travel 2 hours to work, traffic jam every morning is not a good life.

The equation will be different once the HSR & RTS are built. Retirees also do not have to travel in & out so often.

 

[whoami]

travel 2 hours to work, traffic jam every morning is not a good life.

Good thing have to come with $acrifice$.

 

[alnine]

Good thing have to come with $acrifice$.

I have encouraged my office/boss to move to iskandar. Rental savings is the first saving, cleaners and office support will be cheaper, but main address still in Singapore.

 

[PuteriWorld]

One of my business neighbours took the first step to uproot from Spore to Iskandar. Sold his old leasehold pathetic factory in Singapore for a good RM 8million. Spent RM 2.5M to buy a FREEHOLD Semi D factory in Nusajaya.. Kept the RM 5.5M as spare cash and to standby for higher toll and RM50 daily levy into Singapore.

His children are grown up so he can uproot easily. But he is quite lucky in a way because he has a choice. Many people in Singapore just don't have the choice. Some, no matter how cheap up north can be, their mind is set on paying S$1 million for a leasehold HDB flat.

Recently had some coffee in a cafe in an "upscale" neighbourhood in Nusajaya and was impressed by some local buyers snapping up almost RM 7 million bungalows. Even our dear royal houses have finally commerced some serious construction and renovation.

I have encouraged my office/boss to move to iskandar. Rental savings is the first saving, cleaners and office support will be cheaper, but main address still in Singapore.