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Property News
- Thread starter FHBH12
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this only long time already, still selling??? got marketed in SG fully furnished at 8xx psf mid last year to me, subsale was around 650 then.
what was the guy quoting you for?
some of the units there is being used as short term units with ?? 7-8% rental guarantee based on old purchase price
KSLresidence@daya? is it taman daya? where is the exact location, u know? how much they selling arrrh?
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Along and facing the Pasir Gudang highway. Got studio, 3BR, 4BR. Price around RM400K to RM900K, from what I saw.
More info here bro http://www.kslresidences.com/
400k for a 500 sft studio??
Facade looks like our Punggol HDB.
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no it look worse.
OMG i know the location ardy! http://www.kslresidences.com/location/
its at or nearby the traffic light t-junction of the shortcut you showed me long time ago.
good luck taking that kampong road to the condo!
Last edited:
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Will 2018 see better road conditions when it is completed? Thought this one got some potential but looks like PCN.:(
not sure. but the road that exit from pandan (jln kangkar tebrau, i think) i don't think can be expand lei, cos the shop and property all very close to the road liao
All systems go with Mah Sing
BY ANGIE NG
Published: Saturday June 7, 2014 MYT 12:00:00 AM
Updated: Saturday June 7, 2014 MYT 7:21:28 AM
BUOYED by strong sales for its property projects, Mah Sing Group Bhd will be proceeding with its project launches worth RM4bil this year.
Unlike some developers who are moving into lower gear in terms of project launches following a more challenging market environment in the first half of this year, group managing director and chief executive Tan Sri Leong Hoy Kum says Mah Sing has gone on with its project launches and previews as planned.
These include Savanna Executive Suites and Dsara Sentral, both launched in March, and the preview of Lakeville Residence and Avens Residences garden linkhomes in Southville@KL South in May. There are also the ongoing launches of new phases of linkhomes, MResidence 1 & 2 in Rawang, Leong shares with StarBizWeek.
Of Mah Sing’s product portfolio, 26% worth RM8.3bil comprises landed residential property, 21% (RM6.3bil) are serviced apartments and small office home office (Soho) units, and 19% (RM5.8bil) are condominiums and apartments.
Leong believes the fundamentals of the local property market remains solid, driven by a relatively young working population, continued urbanisation, a stable employment market, attractive mortgage rates, and a cultural preference for owning and investing in properties.
“These factors should sustain demand for the right properties in major hotspots where demand will outpace supply over the short and medium terms,” he says.
Mah Sing’s confidence stems from the strong sales it has garnered, having turned in RM770mil in sales as at March 31 this year. It is confident of clocking up a 20% increase in sales to the tune of RM3.6bil in 2014.
Leong says mid-range mass market products like Savanna Executive Suites in Southville City@Bangi, linkhomes in MResidence 1 & 2 in Rawang, and apartments in DSara Sentral, Sungai Buloh have resulted in strong sales momentum for Mah Sing.
The Southville City township recorded bookings of RM530mil compared with the full-year sales target of RM700mil. As for the D’sara Sentral project in Sungai Buloh, bookings have reached RM250mil compared with the full-year sales target of RM300mil.
Leong attributes Mah Sing’s strong performance to the right product planning and good landbanking strategies over the past few years.
“We have planned for the right products over the past two years by acquiring landbank for mainly mass market products. The right products at locations with supply shortage still see strong demand from buyers who buy for their own occupation, while investors are in for the medium to long term,” he explains.
Next month, Mah Sing will open for booking 197 units of 3-storey link houses (priced from RM860,000) with a gross development value (GDV) of RM200mil. There are already 1,000 bookings for the project.
After the Government’s market cooling measures came into force in January this year, Leong says Mah Sing has shifted its focus to the affordable residential property segment that still enjoys robust demand.
Versatile player
“The focus this year is to ensure affordability of our products. This property segment has been underserved for many years now and there is strong pent-up demand. To cater to this market segment, some 81% of our residential launches this year will be priced below RM700,000 compared to only 41% in 2013,” Leong says.
He points out that the implementation of the 6% goods and services tax from April 1, 2015 will cause commercial property prices to go up by 6%, while residential property prices will need to rise by 3%-5% for developers to cover the higher input costs.
He believes this will encourage potential property purchasers to buy ahead in the second half of this year to avoid having to pay more for their property.
Mah Sing has 47 projects spread across the country in the Klang Valley, Johor, Penang and Sabah.
Location-wise, the group’s focus is still in the Klang Valley which is expected to contribute 60% to group sales this year, followed by Johor Baru projects at 23%, Penang projects 10% and Kota Kinabalu projects 7%.
But it has no intention of spreading to other smaller markets such as Perak, Pahang or Negri Sembilan, although Leong says Mah Sing may explore Seremban when the high speed rail project takes off. It also has no plans to expand overseas.
He says Mah Sing is on the lookout for good land although he laments that despite the tougher market backdrop, the price of land has not come down.
“We are not in a hurry to buy land but we are constantly looking for new land. We will lock in if the price is right and payment terms are attractive. We will focus on the four hotspots where we have a presence, namely the Klang Valley and Greater KL, Iskandar Malaysia, Penang and Sabah.”
Leong says Mah Sing has the capacity to lock in further new land before hitting the company’s target of maintaining a net gearing ratio of 0.5.
Mah Sing’s balance sheet remains strong with a strong cash pile of some RM614.2mil and a low net gearing of 0.25 times as at March 31.
“Having the right land will give us the flexibility to plan ahead of the property market cycle,” he says.
Mah Sing still has 2,786 acres with a total remaining GDV of RM26.08bil that will sustain the group for seven to eight years.
It also has unbilled sales of RM4.64bil. Of the total remaining GDV and unbilled sales of RM30.72bil, commercial property makes up 28% or RM8.585bil and industrial property makes up 6% (RM1.718bil).
Leong says Mah Sing is also looking at injecting its industrial and commercial assets into a real estate investment trust (Reit) in the next three to five years.
“We have the right profile of properties should we decide to venture into a Reit. However, this is a medium to long-term plan for us.”
Meanwhile, Leong is confident the 43 million options under Mah Sing’s 10-year employee share option scheme will be converted upon the expiry date in July given the low weighted average price of RM1.44 per option. The exercise price of the options ranges from RM1.24 to RM2.03.
“The exercise of one option will involve the issuance of one new share. So if all 43 million options are exercised before the expiry date of July 10, that will involve an issuance of 43 million new shares in Mah Sing,” Leong says.
The low price-to-earnings ratio of around 9 to 10 times presents a good entry opportunity for investors, he adds.
Leong says the conversion of the options will raise Mah Sing’s market capitalisation by some RM97mil, giving a boost to Mah Sing’s share liquidity.
http://www.thestar.com.my/Business/...t-holding-back-project-launches-and-previews/
BY ANGIE NG
Published: Saturday June 7, 2014 MYT 12:00:00 AM
Updated: Saturday June 7, 2014 MYT 7:21:28 AM
BUOYED by strong sales for its property projects, Mah Sing Group Bhd will be proceeding with its project launches worth RM4bil this year.
Unlike some developers who are moving into lower gear in terms of project launches following a more challenging market environment in the first half of this year, group managing director and chief executive Tan Sri Leong Hoy Kum says Mah Sing has gone on with its project launches and previews as planned.
These include Savanna Executive Suites and Dsara Sentral, both launched in March, and the preview of Lakeville Residence and Avens Residences garden linkhomes in Southville@KL South in May. There are also the ongoing launches of new phases of linkhomes, MResidence 1 & 2 in Rawang, Leong shares with StarBizWeek.
Of Mah Sing’s product portfolio, 26% worth RM8.3bil comprises landed residential property, 21% (RM6.3bil) are serviced apartments and small office home office (Soho) units, and 19% (RM5.8bil) are condominiums and apartments.
Leong believes the fundamentals of the local property market remains solid, driven by a relatively young working population, continued urbanisation, a stable employment market, attractive mortgage rates, and a cultural preference for owning and investing in properties.
“These factors should sustain demand for the right properties in major hotspots where demand will outpace supply over the short and medium terms,” he says.
Mah Sing’s confidence stems from the strong sales it has garnered, having turned in RM770mil in sales as at March 31 this year. It is confident of clocking up a 20% increase in sales to the tune of RM3.6bil in 2014.
Leong says mid-range mass market products like Savanna Executive Suites in Southville City@Bangi, linkhomes in MResidence 1 & 2 in Rawang, and apartments in DSara Sentral, Sungai Buloh have resulted in strong sales momentum for Mah Sing.
The Southville City township recorded bookings of RM530mil compared with the full-year sales target of RM700mil. As for the D’sara Sentral project in Sungai Buloh, bookings have reached RM250mil compared with the full-year sales target of RM300mil.
Leong attributes Mah Sing’s strong performance to the right product planning and good landbanking strategies over the past few years.
“We have planned for the right products over the past two years by acquiring landbank for mainly mass market products. The right products at locations with supply shortage still see strong demand from buyers who buy for their own occupation, while investors are in for the medium to long term,” he explains.
Next month, Mah Sing will open for booking 197 units of 3-storey link houses (priced from RM860,000) with a gross development value (GDV) of RM200mil. There are already 1,000 bookings for the project.
After the Government’s market cooling measures came into force in January this year, Leong says Mah Sing has shifted its focus to the affordable residential property segment that still enjoys robust demand.
Versatile player
“The focus this year is to ensure affordability of our products. This property segment has been underserved for many years now and there is strong pent-up demand. To cater to this market segment, some 81% of our residential launches this year will be priced below RM700,000 compared to only 41% in 2013,” Leong says.
He points out that the implementation of the 6% goods and services tax from April 1, 2015 will cause commercial property prices to go up by 6%, while residential property prices will need to rise by 3%-5% for developers to cover the higher input costs.
He believes this will encourage potential property purchasers to buy ahead in the second half of this year to avoid having to pay more for their property.
Mah Sing has 47 projects spread across the country in the Klang Valley, Johor, Penang and Sabah.
Location-wise, the group’s focus is still in the Klang Valley which is expected to contribute 60% to group sales this year, followed by Johor Baru projects at 23%, Penang projects 10% and Kota Kinabalu projects 7%.
But it has no intention of spreading to other smaller markets such as Perak, Pahang or Negri Sembilan, although Leong says Mah Sing may explore Seremban when the high speed rail project takes off. It also has no plans to expand overseas.
He says Mah Sing is on the lookout for good land although he laments that despite the tougher market backdrop, the price of land has not come down.
“We are not in a hurry to buy land but we are constantly looking for new land. We will lock in if the price is right and payment terms are attractive. We will focus on the four hotspots where we have a presence, namely the Klang Valley and Greater KL, Iskandar Malaysia, Penang and Sabah.”
Leong says Mah Sing has the capacity to lock in further new land before hitting the company’s target of maintaining a net gearing ratio of 0.5.
Mah Sing’s balance sheet remains strong with a strong cash pile of some RM614.2mil and a low net gearing of 0.25 times as at March 31.
“Having the right land will give us the flexibility to plan ahead of the property market cycle,” he says.
Mah Sing still has 2,786 acres with a total remaining GDV of RM26.08bil that will sustain the group for seven to eight years.
It also has unbilled sales of RM4.64bil. Of the total remaining GDV and unbilled sales of RM30.72bil, commercial property makes up 28% or RM8.585bil and industrial property makes up 6% (RM1.718bil).
Leong says Mah Sing is also looking at injecting its industrial and commercial assets into a real estate investment trust (Reit) in the next three to five years.
“We have the right profile of properties should we decide to venture into a Reit. However, this is a medium to long-term plan for us.”
Meanwhile, Leong is confident the 43 million options under Mah Sing’s 10-year employee share option scheme will be converted upon the expiry date in July given the low weighted average price of RM1.44 per option. The exercise price of the options ranges from RM1.24 to RM2.03.
“The exercise of one option will involve the issuance of one new share. So if all 43 million options are exercised before the expiry date of July 10, that will involve an issuance of 43 million new shares in Mah Sing,” Leong says.
The low price-to-earnings ratio of around 9 to 10 times presents a good entry opportunity for investors, he adds.
Leong says the conversion of the options will raise Mah Sing’s market capitalisation by some RM97mil, giving a boost to Mah Sing’s share liquidity.
http://www.thestar.com.my/Business/...t-holding-back-project-launches-and-previews/
IOI Group: Property prices expected to go up higher
Posted on 11 June 2014 - 05:36am
KUALA LUMPUR: The IOI group of companies executive chairman Tan Sri Lee Shin Cheng expects property prices to move upwards once the impact of cooling measures settle, Bernama reported.
Last year, as an effort to control the property prices, the government, in tabling Budget 2014, raised the real property gains tax to 30% for properties disposed of within three years.
"After the cooling measures, we expect the price will go up. The next hike will be higher than the last hike," Lee told reporters after IOI Properties Group Bhd presentation in conjunction with Invest Malaysia 2014.
On the company's future plan, Lee said that IOI was planning to launch a few property development projects this year despite the slowdown in property sales.
Asked on the property sizes nowadays, he said they were getting smaller due to the slower demand, and the group was also expected to launch smaller units of houses or reduce the number of house units.
"But for this year, we will launch more varieties (of houses) and we are looking into affordable houses," he said.
Meanwhile, commenting on the group's land bank, IOI Corp Bhd CEO Datuk Lee Yeow Chor said the company had no plans to acquire land at the moment, however it was looking for brownfield sites in Southeast Asia.
On the El Nino effects on palm oil production, he said the effects of the prolonged dry weather on the crops was not immediate, as the company would only see the effects on palm oil production after two months.
"There is a significant impact on the production and the price of palm oil will be boosted but it is not so immediate," he added.
http://www.thesundaily.my/news/1074342
Posted on 11 June 2014 - 05:36am
KUALA LUMPUR: The IOI group of companies executive chairman Tan Sri Lee Shin Cheng expects property prices to move upwards once the impact of cooling measures settle, Bernama reported.
Last year, as an effort to control the property prices, the government, in tabling Budget 2014, raised the real property gains tax to 30% for properties disposed of within three years.
"After the cooling measures, we expect the price will go up. The next hike will be higher than the last hike," Lee told reporters after IOI Properties Group Bhd presentation in conjunction with Invest Malaysia 2014.
On the company's future plan, Lee said that IOI was planning to launch a few property development projects this year despite the slowdown in property sales.
Asked on the property sizes nowadays, he said they were getting smaller due to the slower demand, and the group was also expected to launch smaller units of houses or reduce the number of house units.
"But for this year, we will launch more varieties (of houses) and we are looking into affordable houses," he said.
Meanwhile, commenting on the group's land bank, IOI Corp Bhd CEO Datuk Lee Yeow Chor said the company had no plans to acquire land at the moment, however it was looking for brownfield sites in Southeast Asia.
On the El Nino effects on palm oil production, he said the effects of the prolonged dry weather on the crops was not immediate, as the company would only see the effects on palm oil production after two months.
"There is a significant impact on the production and the price of palm oil will be boosted but it is not so immediate," he added.
http://www.thesundaily.my/news/1074342
S'pore still top foreign investor in Iskandar
Posted on 13 June 2014 - 05:36am
[email protected]
NUSAJAYA: Singapore continues to be the top foreign investor in Iskandar Malaysia with committed investments of RM11 billion up to April this year.
Iskandar Regional Development Authority chief executive, Datuk Ismail Ibrahim, said from 2006 up to end-April, the economic corridor has attracted a total of RM138.61 billion in committed investments, of which 45% of them had been realised.
"Singapore is currently the highest foreign investor in Iskandar. We are looking at creative industry, other manufacturing activities, oleochemicals, logistics and food agriculture processing.
"We will be making the announcement when the time comes," he said when asked on other new investments in the pipeline.
Ismail told reporters this after the groundbreaking ceremony for Nusajaya Tech Park here yesterday.
Meanwhile, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said the joint-venture project between UEM Sunrise Bhd and Ascendas Pte Ltd was a testimony to the long bilateral relationship between the two countries.
"This will bring about closer cooperation. The park will also be among the key drivers for growth for Iskandar Malaysia moving forward," he said, adding that it would result in spin-off activities and win-win collaborations between the two countries.
He said Iskandar Malaysia continued to drive strong interest from foreign investors, especially Singaporean companies, due to its proximity and strategic location to ports and airports.
Until December last year, 969 manufacturing projects had been implemented in Iskandar Malaysia with investments of RM46 billion, of which 75% of them were foreign investments.
Meanwhile, Singapore's Trade and Industry Minister, Lim Hng Kiang, in his speech earlier, said Iskandar Malaysia was strategically important for both countries as it not only contributed to greater cooperation between Malaysia and Singapore but also the integration of both economies.
In the morning, Mustapa and Lim held bilateral talk for an hour, discussing the progress of the two countries' Industrial Cooperation Working Group as well as regional issues such as Regional Cooperation Economic Partnership and Asean Economic Community. – Bernama
http://www.thesundaily.my/news/1078810
Posted on 13 June 2014 - 05:36am
[email protected]
NUSAJAYA: Singapore continues to be the top foreign investor in Iskandar Malaysia with committed investments of RM11 billion up to April this year.
Iskandar Regional Development Authority chief executive, Datuk Ismail Ibrahim, said from 2006 up to end-April, the economic corridor has attracted a total of RM138.61 billion in committed investments, of which 45% of them had been realised.
"Singapore is currently the highest foreign investor in Iskandar. We are looking at creative industry, other manufacturing activities, oleochemicals, logistics and food agriculture processing.
"We will be making the announcement when the time comes," he said when asked on other new investments in the pipeline.
Ismail told reporters this after the groundbreaking ceremony for Nusajaya Tech Park here yesterday.
Meanwhile, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said the joint-venture project between UEM Sunrise Bhd and Ascendas Pte Ltd was a testimony to the long bilateral relationship between the two countries.
"This will bring about closer cooperation. The park will also be among the key drivers for growth for Iskandar Malaysia moving forward," he said, adding that it would result in spin-off activities and win-win collaborations between the two countries.
He said Iskandar Malaysia continued to drive strong interest from foreign investors, especially Singaporean companies, due to its proximity and strategic location to ports and airports.
Until December last year, 969 manufacturing projects had been implemented in Iskandar Malaysia with investments of RM46 billion, of which 75% of them were foreign investments.
Meanwhile, Singapore's Trade and Industry Minister, Lim Hng Kiang, in his speech earlier, said Iskandar Malaysia was strategically important for both countries as it not only contributed to greater cooperation between Malaysia and Singapore but also the integration of both economies.
In the morning, Mustapa and Lim held bilateral talk for an hour, discussing the progress of the two countries' Industrial Cooperation Working Group as well as regional issues such as Regional Cooperation Economic Partnership and Asean Economic Community. – Bernama
http://www.thesundaily.my/news/1078810
Last night and this morning jams seem bad at both links. Singapore side is not keen despite the talks and rightly wary of Iskandar.
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If there are no jams to and fro JB, the outflow of funds from Singapore to Malaysia will be 10 times more and Singapore government will be bankrupt soon
We all know that the ministers pay is highest in the world and Singapore govt income comes almost fully from the locals.
You all really think our Temasek or GIC can have 50% annual returns?
All of us who invested in ISkandar in the year 2007-2010 are BETTER investors than those million dollar investment managers in the GIC !
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