New developments to share

[RedsYNWA]

Braved the much dreaded Monday traffic today, which turned out to be a non-event. Left Taman Molek at 7.11 am and was on the BKE at 8.08 am. I think the weekend traffic is much worse. Haha

 

[Frodo]

Braved the much dreaded Monday traffic today, which turned out to be a non-event. Left Taman Molek at 7.11 am and was on the BKE at 8.08 am. I think the weekend traffic is much worse. Haha

Yesterday night came back from Legoland and thought using 2nd Link faster. Around 9:45pm saw the heavy build up traffic just after paying tolls also flip! I take "Balik Malaysia" route back to Johor central, flip and eat prata for supper to stock up in case got jam. Surprisingly but happily no traffic at all on Johor side, and made it pass Singapore checkpoint less than 20min around midnight.

 

[FHBH12]

Yesterday night came back from Legoland and thought using 2nd Link faster. Around 9:45pm saw the heavy build up traffic just after paying tolls also flip! I take "Balik Malaysia" route back to Johor central, flip and eat prata for supper to stock up in case got jam. Surprisingly but happily no traffic at all on Johor side, and made it pass Singapore checkpoint less than 20min around midnight.

I went up to buy some lights and check out my other house construction. I kenna the heavy build-up at 2nd link as I left Bukit Indah around 9.30pm. I managed to clear Singapore checkpoint around 10.45pm.

 

[Frodo]

I went up to buy some lights and check out my other house construction. I kenna the heavy build-up at 2nd link as I left Bukit Indah around 9.30pm. I managed to clear Singapore checkpoint around 10.45pm.

And I have this impression somehow that 2nd Link should always be faster and less gridlock than Woodlands. Well, things just happen...or don't!

 

[FHBH12]

And I have this impression somehow that 2nd Link should always be faster and less gridlock than Woodlands. Well, things just happen...or don't!

1st link is getting faster than 2nd link.

 

[toyohon]

Braved the much dreaded Monday traffic today, which turned out to be a non-event. Left Taman Molek at 7.11 am and was on the BKE at 8.08 am. I think the weekend traffic is much worse. Haha

It's a public holiday in Malaysia today - Malaysia Day.

 

[RedsYNWA]

It's a public holiday in Malaysia today - Malaysia Day.

So shouldnt the traffic to SG be even worse? I did see more MY cars than I expect to see on a busy Mon morning. Morning traffic to SG is seriously not too bad at all at causeway imho.

EDIT: Oh I think u mean the traffic on MY roads. But MY roads is usually quite ok at 7am in the morning one.....Most locals just woke up I think. haha

 

[strongterry]

Any thoughts about Iskandar Putri commercial shop in Iskandar?

2 year guaranteed return of 6% per annum. Sounds pretty attractive. How does this compare to Nusajaya Square launched last year?

 

[malpaso]

dropped by johor land office this morning. since it's malaysia day, was 'greeted' by a glum looking salesgirl. next launch of acerola2 2 storey 22x70 P12 @ BDO, is RM586K after discounts etc etc (non bumi price)- expected launch 'end of the year'.

 

[FHBH12]

Any thoughts about Iskandar Putri commercial shop in Iskandar?

2 year guaranteed return of 6% per annum. Sounds pretty attractive. How does this compare to Nusajaya Square launched last year?

Problem with industrial park is at night, weekends or public holiday will be deserted. So where are the customers to sustain the shops?

 

[FHBH12]

dropped by johor land office this morning. since it's malaysia day, was 'greeted' by a glum looking salesgirl. next launch of acerola2 2 storey 22x70 P12 @ BDO, is RM586K after discounts etc etc (non bumi price)- expected launch 'end of the year'.

That's very affordable.

 

[FHBH12]

One more SG factory up in Iskandar. There should be more of such news next year.

Logistics Holdings invests $5 million in precast plant in Iskandar
Published on Sep 16, 2013
http://www.straitstimes.com/breakin...sts-5-million-precast-plant-iskandar-20130916

 

[1nottiboy]

Just back from settling the paperwork and money matters for my purchase.

WHAT A BLOODY HASSLE!!! took 3 hours to sign and glance through the SPA and loan documents. Then the bank would only allow me to deposit RM10K. But lawyer is asking for RM50k for balance down payment, consent fees, legal fees and misc. So how? TT RM10K everyday? or physically carry RM50K in? still thinking.

So, question? if it's so hard to bring deposit RM in Malaysia, how easy is it to take it out? hmmm... food for thought. this would likely be my last purchase in Malaysia. it is too much work.

also, heard that the Johor govt reviews industrial land purchase by foreigners very closely. Heard they recently REJECTED a SG and CN JV purchase for own-use factory. no names were given. just sharing in case any Bros here thinking of buying industrial land and think that you only need to pay the state consent fee and it is a sure thing. apparently, it is not.

 

[wuqi256]

Just back from settling the paperwork and money matters for my purchase.

WHAT A BLOODY HASSLE!!! took 3 hours to sign and glance through the SPA and loan documents. Then the bank would only allow me to deposit RM10K. But lawyer is asking for RM50k for balance down payment, consent fees, legal fees and misc. So how? TT RM10K everyday? or physically carry RM50K in? still thinking.

So, question? if it's so hard to bring deposit RM in Malaysia, how easy is it to take it out? hmmm... food for thought. this would likely be my last purchase in Malaysia. it is too much work.

also, heard that the Johor govt reviews industrial land purchase by foreigners very closely. Heard they recently REJECTED a SG and CN JV purchase for own-use factory. no names were given. just sharing in case any Bros here thinking of buying industrial land and think that you only need to pay the state consent fee and it is a sure thing. apparently, it is not.

Very curious why do you need 3 hours? Most of the documents are always In English and at the very beginning, took me a max of 1-1 hour 15mins and nowadays its 30 mins as SPA are normally standard. You can arrange with your bank to TT funds into your loan account. Your lawyers/bank should be able to help. Can you please help us by sharing your sources of information for industrial land?

http://mir.com.my/lb/econ_plan/contents/press_release/bnegara.htm

1. RULES APPLICABLE TO NON-RESIDENTS
1.1 Investments in Malaysia
The Malaysian markets are easily accessible by global investors. There is free
mobility for inflow and outflow of capital for investments in Malaysia.
Non-residents are free to invest in any form of ringgit assets either as direct
or portfolio investments.
The investments can be funded through-
 the conversion of foreign currency to ringgit with licensed onshore
banks (excluding licensed international Islamic banks) or through an
appointed overseas office of the licensed onshore bank’s banking
group;
 foreign currency borrowings from the licensed onshore banks; or
 ringgit borrowing from licensed onshore banks (excluding licensed
international Islamic banks) for real sector activities and for the
purchase of residential and commercial properties in Malaysia except
for the purchase of land only.

Non-residents are free to remit out divestment proceeds, profits, dividends
or any income arising from investments in Malaysia. Repatriation, however,
must be made in foreign currency


Source:
http://www.bnm.gov.my/microsites/fxadmin/new_fea_rules/FEA_rules_Part_2_Non-residents.pdf

 

[Organic]

Just back from settling the paperwork and money matters for my purchase.

WHAT A BLOODY HASSLE!!! took 3 hours to sign and glance through the SPA and loan documents. Then the bank would only allow me to deposit RM10K. But lawyer is asking for RM50k for balance down payment, consent fees, legal fees and misc. So how? TT RM10K everyday? or physically carry RM50K in? still thinking.

For payment to third-party (e.g. your lawyer), there is no RM10K limit. Transactions via most Money Changers and cash deposit have RM10K limit, whereas for TT via banks (and some Money Changers) to your personal account in Malaysia has no limit.

 

[Funniman]

Just back from settling the paperwork and money matters for my purchase.

WHAT A BLOODY HASSLE!!! took 3 hours to sign and glance through the SPA and loan documents. Then the bank would only allow me to deposit RM10K. But lawyer is asking for RM50k for balance down payment, consent fees, legal fees and misc. So how? TT RM10K everyday? or physically carry RM50K in? still thinking.

So, question? if it's so hard to bring deposit RM in Malaysia, how easy is it to take it out? hmmm... food for thought. this would likely be my last purchase in Malaysia. it is too much work.

also, heard that the Johor govt reviews industrial land purchase by foreigners very closely. Heard they recently REJECTED a SG and CN JV purchase for own-use factory. no names were given. just sharing in case any Bros here thinking of buying industrial land and think that you only need to pay the state consent fee and it is a sure thing. apparently, it is not.

3 hours? Sounds logical as you signed the SPA and Loan documents. It means that you signed with 2 different parties, one for the developer and the other for the bank and with different lawyers too. Most probably with different offices too. That means it is 1hr 30 mins each. Sound reasonable to me if you are extra careful in reading the clauses of the documents.

Sending money in and out of Malaysia is so easy. You can buy a Cashier's order/ Demand Draft anytime. OCBC & UOB have branches here. Maybank also have branch in Spore. HSBC Premier also no problem. No need cash, lawyers also do not like to handle hard cash with clients.

Buying industrial land and buying house in Malaysia is totally different. Buying residential land and house is purely for residential purposes.
State consent is just a tiny part of the entire process.

MITI (Malaysia International Trade Industry) and Matrade (Malaysia Trade Development Board) closely scrutinise its industrial development as it would impact the environment and infrastructure as well as the overall development planning. Eg. You cannot buy light industrial land and build a heavy industrial factory and suck up all the electricity. What about environmental impact study or water usages and discharges?
All manufacturing licences must be obtained from MITI and Matrade prior to any commencement of works.

 

[malpaso]

Just back from settling the paperwork and money matters for my purchase.

WHAT A BLOODY HASSLE!!! took 3 hours to sign and glance through the SPA and loan documents. Then the bank would only allow me to deposit RM10K. But lawyer is asking for RM50k for balance down payment, consent fees, legal fees and misc. So how? TT RM10K everyday? or physically carry RM50K in? still thinking.

So, question? if it's so hard to bring deposit RM in Malaysia, how easy is it to take it out? hmmm... food for thought. this would likely be my last purchase in Malaysia. it is too much work.

also, heard that the Johor govt reviews industrial land purchase by foreigners very closely. Heard they recently REJECTED a SG and CN JV purchase for own-use factory. no names were given. just sharing in case any Bros here thinking of buying industrial land and think that you only need to pay the state consent fee and it is a sure thing. apparently, it is not.

SPA and loan signing is pretty standard for both singapore and malaysia side. It took me 1.5 hours to sign SPA took, since there are 4 copies and i had to initial every page. I also took time to ask questions and glance through the docs. If signing SPA only is giving you a headache, be prepare for more along the way esp dealing with stuff like paying taxes, bills, etc. m'sia govt is still very slow in service.

 

[Frodo]

SPA and loan signing is pretty standard for both singapore and malaysia side. It took me 1.5 hours to sign SPA took, since there are 4 copies and i had to initial every page. I also took time to ask questions and glance through the docs. If signing SPA only is giving you a headache, be prepare for more along the way esp dealing with stuff like paying taxes, bills, etc. m'sia govt is still very slow in service.

Maybe they should innovate a bit, since SPA documents can be quite thick, press them hard together and let us sign on the sides/spine of the stack of the papers using thicker marker pen. Less than 10 sec job.

 

[malpaso]

Maybe they should innovate a bit, since SPA documents can be quite thick, press them hard together and let us sign on the sides/spine of the stack of the papers using thicker marker pen. Less than 10 sec job.

hehe... don't tink so bro.. the reason to sign every page is to ensure purchaser has "read" every page of the SPA (.ie. cover developers' ass.)

 

[Frodo]

hehe... don't tink so bro.. the reason to sign every page is to ensure purchaser has "read" every page of the SPA (.ie. cover developers' ass.)

I "read" every page that I signed on, as did everyone else I'm sure.