Living in JB

[Analytical Professor]

Bro yonglip

Thank you for taking time off to explain the details.

Appreciate ur time spent

 

[yonglip]

Hi yl bro

Yes that is correct. The display rate wAS 243rm. But they give 246.5 when i exchange. If u exchange more they give even better. Tip if u wanna exchnage to rm always ask how much the rate even tho it is on display big big. They will definitely quote higher than display rate. Then u can get even better deal by telling "Eh i wanna exchange $5k" for example. They wil give even higher than they initially quoted.

ok. will try out. on sunday i exchanged at boon lay shopping centre at 2.46 to the dollar. thot got good deal...changed $8K+ for RM 20K all $50 notes...the stack as big as my palm...the only other time i held so much paper money was burning hell notes during 7th month..hahahaha. but that incident taught me a lesson...no more cash exchange liao...scariest day of my life..if you know what i mean.

 

[yonglip]

Bro yonglip

Thank you for taking time off to explain the details.

Appreciate ur time spent

don mention bro...everyone is here to share...

 

[blondeyes]

Did a lot of research on pfingo, skype, pennytel

As u rightly mentioned pfingo n pennytel r good n a whole load cheaper than skype as well

Hi i would like to suggest to who are traveling a lot between SG and Msia. Use Flexiroam to make call or to receive call from Msia while in SG. Switch to SG sims and people in Malaysia will call your Msia number and it will forward to your SG sims.. Unlimited call for RM10/day.. It saves roaming cost a lot expecially those who need to make call often.. Currenly Flexiroam giving 3 days roaming FREE.. just sign up at their website.. here:

 

[avalon74]

Hehe i visited the Caberra Residence showflat and was shocked to see the toilets are those mobile type. No proper toilets built for showflat site nowadays?!

Though close to my place.. did not visit.. notice the land behind the plot of land for canberra residences is actually a new water plant..

 

[mallow]

Totally agree with what you say, you write so beautifully!

Blush ...! Thank you. Just an opinion which not all will agree with.

 

[HH_lover]

Some Updates on Puteri Habour

Launching soon.... Those who have reserved, you'll need to follow through with first 10% to confirm your unit.

 

[HH_lover]

How does that work bro?bthe interest offset plan?[/QUOTE

let me illustrate using my house example..

Valuation = RM560K
borrow 80% = RM448K
Duration = 30 years
Instalment per month = RM2,300+
Open a current account with them and put in RM448K cash. under the interest offset plan, the 2 accounts are linked resulting in 0 effective loan. so interest is 0 regardless of interest rate levels.
in the meantime, they will deduct about RM2300 per month from the current account as mortgage payment. Both the accounts will fall in tandem. i..e LOAN balance goes down, Current Account Balance goes down...with this, a loan that normally takes 30 years to repay will be repaid in 16 years.

my plan is to top up this current account periodically and eventually i will still have some RM cash there waiting for me when i retire as well as a fully paid up home in 16 years time.

why go through this hassel and not pay them one shot since got cash?..i hear some bros asking....

simple...the rationale is similar to why pay cash when you can utilise the 24 month interest free instalment payment plan on most credit cards to pay for your electrical purchase at COURTS for example.

I have been toying with this idea of interest-offset package for sometime already. Was confounded by the fact that the banks are willing to offer such a good deal--"effectively" raising the interest rate of your savings of the borrowed amount (in FD let's say) to BLR-XX of let's say 4.1%. What was the catch given that FD interest rates are going at 3.3% p.a. averagely?

Then I realised one thing, interest offset is non-interest bearing. In other words, your principle does not ever grow. And given that the borrowed amount is reducing, putting your borrowed amount in FD might be a better deal over time for bros with spare cash. The power of compounding interest.

After 30 years, your principle of $448K would become $1.275mil in your FD account based on 3.55%. Your house with interest paid up over 30 years would be a total of $780K, and you will have access cash to spare.

Btw, RHB is having FD promotion of averaged 3.55% p.a. for 8months FD, till end September.

 

[matx3315]

Hi,


Open a current account with them and put in RM448K cash. under the interest offset plan, the 2 accounts are linked resulting in 0 effective loan. so interest is 0 regardless of interest rate levels.

Don't understand how above can be achieved?>>

How does that work bro?bthe interest offset plan?[/QUOTE

let me illustrate using my house example..

Valuation = RM560K
borrow 80% = RM448K
Duration = 30 years
Instalment per month = RM2,300+
Open a current account with them and put in RM448K cash. under the interest offset plan, the 2 accounts are linked resulting in 0 effective loan. so interest is 0 regardless of interest rate levels.
in the meantime, they will deduct about RM2300 per month from the current account as mortgage payment. Both the accounts will fall in tandem. i..e LOAN balance goes down, Current Account Balance goes down...with this, a loan that normally takes 30 years to repay will be repaid in 16 years.

my plan is to top up this current account periodically and eventually i will still have some RM cash there waiting for me when i retire as well as a fully paid up home in 16 years time.

why go through this hassel and not pay them one shot since got cash?..i hear some bros asking....

simple...the rationale is similar to why pay cash when you can utilise the 24 month interest free instalment payment plan on most credit cards to pay for your electrical purchase at COURTS for example.

if you pay them one shot, your money is gone overnight. With this plan, it will only be gone over a period of 16 years. its more of a pyschological thingy. hahaha...actually below are some real reasons.

it effectively becomes an interest free payment plan. Interest rates are high in M'sia, so it makes sense to reduce it. in any case, the money in Sing account is earning peanuts interest.

Funds in the current account is still yours..i.e. can still be used. So if need money, can still withdraw via ATM/transfer out/write cheque. of course if current account is lesser than outstanding loan amount, have to pay standard mortgage interest (BLR-XX%) on the net balance.

If RM strenghtens, i am ok cos my funds are already in there for auto monthly deductions. I dont have to really change from Sing to RM to pay the instalments. If RM weakens, the initial amount in the current account will take a hit but since i am topping up this account periodically, it also means that i will be topping up with less Sing dollars down the road. so net impact bearable.

Finally a mortgage loan allows one to buy the MRTA...a cheap reducing term insurance which you never really know when it might come in handy (hahaha - touch wood hor)...

Do note that there is a monthly fee of RM10 and initial set up fee of RM200 for this type of account. such interest offset accounts are available in most banks over there.

for bros with idle cash, may be worthwhile to use such accounts to reduce interest. there is no need to offset in full, partial offset also can.

Such accounts are nothing new, in Sing, they have similar mechanisms like the mortgageOne from Standard Chartered Bank,...the difference in Sing is that the banks do not allow 100% offset...as usual la..in Sing everything maciam like must squeeze you until dry. if not, this forum will not even exist. hahaha.

 

[Analytical Professor]

Mallow i was not wrong!

Please continue.

Welcome to another interesting world of people who think just like you.

Totally agree with what you say, you write so beautifully!

Blush ...! Thank you. Just an opinion which not all will agree with.

 

[arsenal]

Some Updates on Puteri Habour

Launching soon.... Those who have reserved, you'll need to follow through with first 10% to confirm your unit.

Wow.. Another blog...but i like it..

 

[HH_lover]

Wow.. Another blog...but i like it..

Haha...danke.... Just a way of keeping track of things...

 

[ginfreely]

Though close to my place.. did not visit.. notice the land behind the plot of land for canberra residences is actually a new water plant..

New water plant, what is that? Is it same as waste treatment plant? Didn't know about it, only know there is a waste treatment plant at Seletar area, that one can smell it when drive past..

 

[ginfreely]

Btw, RHB is having FD promotion of averaged 3.55% p.a. for 8months FD, till end September.

That is a good rate, HSBC only offer 3.3% for 12 month FD. Must open saving account at RHB then can open FD?

 

[lastresort]

Hey guys, very good news! I have just checked online after my KL friend updated me on FB. Malaysia has just confirmed Foxconn investment project in Kulai!

Malaysia confirms Foxconn investment project

http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?Type=aECO&ID=201108100042

Kuala Lumpur, Aug. 10 (CNA) Taiwan's Foxconn Technology Group has received a licence to invest in Kulai, in Malaysia's Johor State, Malaysia's Ministry of International Trade and Industry confirmed Wednesday.

A ministry official told CNA the Taiwanese electronics titan said the group will produce printer cartridges, employing 1,000 engineers and technicians. It did not disclose the number of general workers that will be required to operate the plant.

The official declined to reveal the amount of capital to be injected into the investment project.

Foxconn received approval May 18 from the Kulai City council to build an industrial park, and construction is currently underway.

According to Malaysian regulations, foreign investment projects with paid-in capital of more than 2.5 million Malaysian ringgit (US$831,532) or a work force of more than 75 full-time workers are required to obtain a licence from the ministry. (By Sun Tien-mei and Lilian Wu) ENDITEM/J

 

[lastresort]

hi guys

i have just bought at Bestari Heights...i have been looking around JB houses for some time aleardy (easily 5 years and more)...you name it, i have practically seen it all and finally decided on BH where both my wife and I deemed it as OK. This is my take on some of the other developments we have seen from causeway to 2nd link....i know some bros here stay at these places..no offence intended..just my personal opinion..welcome detractors..

Hi Yonglip bro, welcome to the forum and hope you will like your new home when it's ready! I supposed your unit is a cluster house. I think you have bought the home at a very reasonable price considering other developments nearby are priced higher.

The newer precincts at Bukit Indah are situated further away from the commercial area (Jusco), so definitely not as good as BH in terms of location. HH's cluster homes of around the same built up and land size are selling above 910 K, but I wouldn't compare them because they are of different concepts and market.

The closest alternative I can think of is Nusa Duta (also one of my personal favourite developments), it is also very near to commercial areas. It has a very neat and organised masterplan, good quality, design, touch up and I foresee very good top end management, maintainance and security. Only thing is the built up of cluster homes are only around 2400sf for the same price you're paying, land size is around the same. Good units are already taken up some time ago. What do you think of Nusa Duta?

 

[lastresort]

Hi everyone here, I have been reading this forum since the time it started, i shared the feeling of each members here and the reasons behind the move to start up alternative homes in JB. Before i continue let me share a bit of myself, i just retire recently after reaching the age of 62. However in 2009 I come to realise that the cost of living is becoming more and more costly beside the crowded MRT, bus and roads. What do we have? i ask myself beside shopping centres and foodcourts, the kids and adults don't have places to go for relaxations and get away from the commercial aspect of city life. the so called quality of life can only be measured here in term of the money you earned and material possessions that so many are so proud of. So in 2009 i make up my mind to do something about it, no point just talk about it with friend and collagues, i when to purchase a house in JB, a cornered unit in Taman Pelangi Indah. I have plans to use the place for retirement and aslo to setup a workshop for my future crafts business and aslo to try my hand on planting some exotics plants with the available land i have. Well i am looking forward to share with this group my plans and progress if anyone is interested. I will sign off here and hope to continue at a later date, good days to all.

Hi /0m0\,

welcome! I have always wanted to check out older tamans nearer to the custom/JB sentral as I have always believe the Pelangi area will always remain as the true downtown area so it will always be wang! It has all the fundamentals, being nearer to custom and town and I think the price is reasonable and some are undervalued. But it may get a little congested at times. Nusajaya to JB sentral is like Putrajaya to Kuala lumpur. Both are important cities.

It's also good to have someone who is more senior than us in this forum who is full of drive and energy to share with us your perspectives and views. Maybe you can share with us about the living environment in the Pelangi area. Do you meet Singaporeans who have moved there decades ago, and some who have recently moved there?

 

[HH_lover]

That is a good rate, HSBC only offer 3.3% for 12 month FD. Must open saving account at RHB then can open FD?

Yup, the agreement is for 8months. Interest paid out every 2 months.

Rates per 2 months:
1 & 2 - 3.45%
3 & 4 - 3.5%
5 & 6 - 3.55%
7 & 8 - 3.7%

If you keep the interest in, you will get 3.55% averaged.

Not sure, but I think you can place a direct FD. I have a savings acct with them. You can check with them though.

 

[jasonjst]

Come accross this funny Curry Song !

http://www.youtube.com/watch?v=aOsijzsG27U

 

[yonglip]

Hi Yonglip bro, welcome to the forum and hope you will like your new home when it's ready! I supposed your unit is a cluster house. I think you have bought the home at a very reasonable price considering other developments nearby are priced higher.

The newer precincts at Bukit Indah are situated further away from the commercial area (Jusco), so definitely not as good as BH in terms of location. HH's cluster homes of around the same built up and land size are selling above 910 K, but I wouldn't compare them because they are of different concepts and market.

The closest alternative I can think of is Nusa Duta (also one of my personal favourite developments), it is also very near to commercial areas. It has a very neat and organised masterplan, good quality, design, touch up and I foresee very good top end management, maintainance and security. Only thing is the built up of cluster homes are only around 2400sf for the same price you're paying, land size is around the same. Good units are already taken up some time ago. What do you think of Nusa Duta?

hi bro..nice to be here man. Nusa Duta is great! i would definitely have bought the Type A (32 x 70, 2592 sqft) if it was not sold out.current launches are around RM740K (beyond budget) and size is bigger. Quality wise, BH is better in terms of internal finishes...timbre..wrought iron railing for staircase and main gate, flushed drainage at land area...and so forth....but ND is further away from highway/wires...like i said no one development is perfect..cheers bro.