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Property News

The Perils of Medini’s Phantom Rental Market
By Ed Cheong - June 2, 2016

http://www.theiskandarian.com/web/the-perils-of-medinis-phantom-rental-market/

Agree with the points stated except for the suggestion on using it as a weekly holiday home or storage units. For a few hundred thousand S$ Medini condo, it sounds like an extremely expensive thing to do!!! But I guess it's for the lack of better choices.

If the intention was never to go back to the units but to rent them out, it will seem like a forced ritual. Maybe it's ok to go back there the first few times, but to do it regularly every weekend from Singapore, it may soon be too tiring or doing it for the sake of it.

The author is probably too kind to say "You're pretty much screwed to think that there could be any rental or resale market in Medini." From an investment point of view, precious opportunity costs over the years are incurred.
 
hi all,

A friend's condo mgmt passed some rather major decisions during AGM but quite a few people were not informed of the AGM and hence cannot vote. Mgmt claimed they hv sent out the letters but not by registered mails. It seems that the mgmt wants to prevent owners from voting against their decision via this underhand means.

Is there any recourse for these poor folks ? It is like day light robbery !
 
This is one of the many social problems in bringing migrants. TB is so highly contagious that it is spread by droplets from coughing and sneezing.
No signs and they are the super bugs. Anyone walking around can be a carrier or victim.

===============================================

The Ministry of Health (MOH) yesterday announced that six individuals from her block - Block 203, Ang Mo Kio Avenue 3 - have been detected with multidrug-resistant tuberculosis (MDR TB). -

See more at: http://news.asiaone.com/news/singap...-about-being-responsible#sthash.RSlY6agF.dpuf
 
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Base rate hikes new earnings catalysts for banks, says CIMB Research

Posted on June 16, 2016

KUALA LUMPUR: CIMB Equities Research sees the base rate (BR) hikes for a few banks as a new earnings catalyst for the banking sector as it reaffirms its Overweight call on Malaysian banks.

It said on Thursday the Overweight call was based on the potential re-rating catalysts of (1) expected earnings recovery in 2016, and (2) attractive valuations for a few banks.

“RHB Capital remains our top pick for the sector. We retain our earnings forecasts for now but could raise our projections if the BR hikes push up banks’ earnings above our expectations in the coming quarters,” it said.

CIMB Bank has raised its BR by 10bp to 4.1% effective June 9, 2016. Before this, three other banks had upped their

BRs – by 10bp each for Hong Leong Bank (on April 15) and Public Bank (on May 17) as well as by 20bp for AMMB Holdings (in December 2015). Three foreign banks in Malaysia also increased their BRs by 10bps to 20bp over the past few months.

“Given the escalating cost of funds, we previously thought that banks would increase the spread for housing loans, which would only affect the lending rates for new loans. But the above banks even took a step further by raising their BRs, leading to higher interest charged for all their existing variable-rate loans, which account for more than 50% of their loan books.

“The incremental interest income earned will flow directly to banks’ bottom line, boosting their FY17-18 net profit by an estimated circa 2.8% for Public Bank and 3.1% for Hong Leong Bank,” it said.

CIMB Research said Maybank so far does not have plans to raise its BR. However, the research house sees a reasonable chance for it do to so in the near term, considering that two of its biggest competitors have upped the rates.

“We estimate that a 10bp rise in Maybank’s BR would lift its FY17-18 net profit by circa 1.5%,” it said.

The research house said the 10bp rise in several banks’ BRs lately would have a minimal negative impact on their loan growth and asset quality, as this would only lead to a small increase 0in borrowers’ monthly instalments.

“Based on our calculation, a 10bp rise in BR would raise the monthly instalment of a 10-year loan by only 0.7%, which would be easily absorbed by borrowers, in our view,” it added.

http://www.starproperty.my/index.ph...nings-catalysts-for-banks-says-cimb-research/
 
As Eng Kor the quitter leaves UK, it may impact S P Setia Bhd’s Battersea Power Station (BPS) project in London and others, What do you think? pound will kena pounded during this period...

It is good time to buy manU..:p
 
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As Eng Kor the quitter leaves UK, it may impact S P Setia Bhd’s Battersea Power Station (BPS) project in London and others, What do you think? pound will kena pounded during this period...
Setia's shares on Friday already dropped 6%, but this is expected since there will be a knee jerk reaction. Going into the future, things are uncertain for the UK. It may eventually turn out good or bad, it's now everyone's guess because this is clearly unprecedented since there has never been a member leaving the EU before. Can only wait and see.

Source: https://www.google.com/search?q=sp+setia+shares&ie=utf-8&oe=utf-8&client=firefox-b

In my opinion, the UK may not lose out. Just look at Switzerland. It is also not in the EU but still thriving well today. It's only the loser EU members who are now extremely nervous and are also threatening for a quick exit for the UK because they know very well that there are other Euro-skeptic members who are longing to follow the UK to start their own referendums.
 
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Setia's shares on Friday already dropped 6%, but this is expected since there will be a knee jerk reaction. Going into the future, things are uncertain for the UK. It may eventually turn out good or bad, it's now everyone's guess because this is clearly unprecedented since there has never been a member leaving the EU before. Can only wait and see.

Source: https://www.google.com/search?q=sp+setia+shares&ie=utf-8&oe=utf-8&client=firefox-b

In my opinion, the UK may not lose out. Just look at Switzerland. It is also not in the EU but still thriving well today. It's only the loser EU members who are now extremely nervous and are also threatening for a quick exit for the UK because they know very well that there are other Euro-skeptic members who are longing to follow the UK to start their own referendums.

Brexit is actually good news property investors for some yet not so good for others.
Buyers of Setia are smiling. The terms of payment in UK is 10% deposit, 10% upon commencement of work and 80% upon handover.
So with the devaluation of sterling, who is not smiling? I did not buy Setia but I am smiling :)

But for those who bought earlier and taken posession of their property, that is a different story.
 
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Buyers of Setia are smiling. The terms of payment in UK is 10% deposit, 10% upon commencement of work and 80% upon handover.
So with the devaluation of sterling, who is not smiling?
Agree. But what I mean is Setia's forthcoming earnings from their UK property projects will be affected. They will not only have to pay more for raw materials but their revenues will be lesser when repatriated in Ringgits. It's a double whammy.
 
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Agree. But what I mean is Setia's forthcoming earnings from their UK property projects will be affected. They will not only have to pay more for raw materials but their revenues will be lesser when repatriated in Ringgits. It's a double whammy.

If they are selling at 1800 to 2300 sterling pounds per sq ft, no matter how it drop, it is still very profitable. In fact sold out.
In contrast, Canary Wharf is selling then at 600 psf, IJM is selling at 1000 psf and that too is at Tower Bridge in 2013. Ballymore is selling at 900 psf in Zone 4.Today all prices has risen by 20 to 25%. After Brexit, it is anybody guess but London is definitely a rental market.
More so, it is a 10 - 15 year project. The guy who is really laughing is Tan Sri who sold his shares based on forex then.

Still got plenty of money to make.
 
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KUALA LUMPUR: Malaysian conglomerate YTL Corp, which has USD3.3 billion in cash for expansion, sees the United Kingdom’s shock exit – Brexit — from the European Union (EU) as a never seen before opportunity to scout for assets at attractive prices. “Not since 2008 has there been an opportunity for us to scout for assets at attractive prices till now,” Managing Director Francis Yeoh, 61, told Bloomberg in an interview at his headquarters in Kuala Lumpur.
“Assets are already more realistically priced, this time by default rather than design. We have always loved assets like utilities that are long term. Investors like me buy long-term businesses.”

YTL, which snapped up a British utility over a decade ago when Enron Corp. went bust, is looking for infrastructure utility assets in the UK “at bargain prices over the next two to three years”. “I have been lamenting at the lack of opportunities over the past eight years, and perhaps this, sadly is a trigger for it,” added Yeoh.

The company, which has properties besides utilities in Britain, expects the prices of assets it’s eyeing to nosedive post-Brexit.

Britain has the best “transparent and coherent” regulatory framework for foreign investments, said Yeoh. “I am not worried about my investments in the UK. We don’t speculate in currencies and eventually it will even out in the long term. Brexit could be a catalyst for EU and the world to reform their regulatory framework.”
 
But how low will the property prices be depressed? Again..baby steps. You never know what will happen next.
 
I gota feeling Asia ( Malaysia and Singapore inc of cos ) are gota benefit immensely from the Brexit. Investors are gota withdraw their money and reinvest elsewhere and Singapore as the financial capital in this part of the world will be one of the main beneficiary which will spillover to Malaysia and Indonesia
 
I gota feeling Asia ( Malaysia and Singapore inc of cos ) are gota benefit immensely from the Brexit. Investors are gota withdraw their money and reinvest elsewhere and Singapore as the financial capital in this part of the world will be one of the main beneficiary which will spillover to Malaysia and Indonesia

Analysts are saying SG or Tokyo may be the next no 1 Financial centre .
 
consumer electronics not doing well. do not know when it will recover.

recently i had several friends who were retrenched from a well known mnc. the whole team sacked as the mnc is going to close down its sg operation by the end of this year. all senior r&d engrs.

one guy i know 20 years already sit at home or library two months...sigh..
 
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consumer electronics not doing well. do not know when it will recover.

recently i had several friends who were retrenched from a well known mnc. the whole team sacked as the mnc is going to close down its sg operation by the end of year. all senior r&d engrs. one guy i know 20 years already sit at home or library two months....

R&D people in electronics/manufacturing are going out of job soon if not already, it's not something new, been happening since 2008 or even before. They need to adapt somehow, maybe move into different functions or accept overseas jobs.
 
I gota feeling Asia ( Malaysia and Singapore inc of cos ) are gota benefit immensely from the Brexit. Investors are gota withdraw their money and reinvest elsewhere and Singapore as the financial capital in this part of the world will be one of the main beneficiary which will spillover to Malaysia and Indonesia

Just like aftermath of the global 2009 financial crisis. Except this time without the launches of new casino's.
 
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Analysts are saying SG or Tokyo may be the next no 1 Financial centre .

All of the World’s Stock Exchanges by Size
http://money.visualcapitalist.com/all-of-the-worlds-stock-exchanges-by-size/

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Analysts are saying SG or Tokyo may be the next no 1 Financial centre .

Errr.....I think the combined market value of the HK stock exchange is like 9 times the size of tiny SG? I once read that Google/Apple is bigger than the entire SGX combined market cap.
 
Errr.....I think the combined market value of the HK stock exchange is like 9 times the size of tiny SG? I once read that Google/Apple is bigger than the entire SGX combined market cap.

Probably inclusive of all financial markets: currency, wealth management, funds, stocks,...
 
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