Understanding the Financial Crisis

A very well explanation regarding Financial Crisis happened in 2008. Check this out!



http://www.youtube.com/watch?v=qqUGoVez8xg&feature=share

Resorts World Bayshore to kick off in 2013

By Farah Wahida:

Genting Hong Kong Ltd will begin works for phase one of its Resorts World Bayshore in the Philippines, a development three times larger than the existing Resorts World Manila, according to The Star.

Notably, Genting Malaysia Bhd owns 18.4 percent of Genting Hong Kong Ltd.

“Following the success of Resorts World Manila, we hope to do the ground-breaking soon for the first phase of Resorts World Bayshore. We have already signed up Westin as one of the hotels there,” said David Chua, President of Genting Hong Kong.

The RM3.41billion development on a 16ha plot, which eyes RM1.7billion initial investment, is scheduled to be completed by 2016. Resorts World Bayshore will comprise two 800-room upscale hotels, a mall, a 3,000-seat grand opera and residential towers surrounding a casino, once completed.

The development is part of efforts by the Philippine government to build a 100ha leisure and gambling haven to compete with Las Vegas and Macau. Resorts World Bayshore is just 20 minutes apart Resorts World Manila and will take up eight sq km of reclaimed land in Manila Bay.

Meanwhile, ground-breaking ceremony for the third phase expansion of Resorts World Manila has been carried out by Genting group chairman Tan Sri Lim Kok Thay. Expected to be finished in 2016, the expansion will add over 1,000 hotel rooms, gaming facilities, retail space and other international hotels to the integrated hotel.

VALUE BUY: 1Borneo Condominium with Cottage Style Furnishing

Warm Greetings from Metro Homes, Sabah!

1Borneo Condominium is standing tall on a 23 acre development along Jalan Sulaman-Coastal Highway, elements of the whole development comprising of 2 blocks of Condominium namely 1Borneo Condominium Tower A and B, 1 block of Super Condominium namely Prince Tower, 1.5 million square feet of retail space, 2 blocks of Office Towers, Private College namely Mahsa College and Ascot Academy, and 1 block of Office cum Shop Lots with 3,500 car park bays provided.

Public Amenities within close proximity would be State Immigration of Sabah, Educational Institutions such as University Teknologi Mara (UITM), University Malaysia Sabah (UMS), Mahsa College, Ascot Academy and Politeknik Kota Kinabalu. In terms of Medical Facility there is Hospital Likas located at Kingfisher area only 6.5km driving distance away. Within only 13 minutes drive or 13.4km away, you may reach classy 6-star resort namely Karambunai Resorts with world class 18 holes of golf course and spectacular sea view overlooking Sepangar Bay. 

Property Description:

This unit available for sale is located at Tower A, 900 sq ft which is fully renovated with built-in cabinets, quality furnishing with hard wood material, kitchen wall is tiled at fully height, overall the whole unit is designed and furnished with sense of "Cottage Feel". It is ideally resided for single individual or couple whereas 2nd bedroom has been converted into study room with built-in book shelves. The living room is overlooking spectacular "Kampung View" and Crocker Range view providing serenity for its dwellers. 

Property Address: 1Borneo Condominium, Tower A (High Floor)

View/Scenery     : Kampung View/Alamesra View

Area/Size            : 900 square feet (Corner Unit)

Selling Price       : RM400,000

View to Appreciate!

Call now for more info and viewing appointment!

Thank you! 

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Best Regards
for Metro Homes Sdn Bhd

Real Estate Negotiator
WAH KHENG WU
Metro Homes Sdn Bhd
Mobile :+6016-810 0663
Office :+6088 486 060
Fax :+6088-486 033
Email :kwwah88@gmail.com

  

E-28-5, Block E, KK Times Square,

Off Jalan Coastal Highway, 
88100 Kota Kinabalu, Sabah, Malaysia.

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Asia Pacific Property Awards 2009.  Winner for "Best Malaysia Real Estate Agency Website"

Real Estate Website  : www.metrohomes.com

MM2H Website         : www.mm2hnet.com

Twin condos poised to be Sabah's highest building

By Farah Wahida:

Luyang will be home to the highest building in Sabah, once a twin tower condominium development with more than 50 storeys is completed there in the coming years, according to The Daily Express.

The twin tower would exceed the 30-storey Menara Tun Mustapha, the 38-storey Sabah State Administration Complex as well as the yet-to-be-built Tawau Times Square which is said to be the highest building planned in Tawau and Sabah.

The Central Planning Board and the Sabah State Cabinet have approved the project but the development’s name and design has not yet been finalised. The developer is still incorporating the best practices and international standards for the planned 540 units to lure locals as well as expatriates.

“The engineering design allows tolerance of seismic tremors of up to 5 or 6 on the Richter’s Scale. Consideration in design for exclusive lifts and lobbies are still being worked out after a visit to Singapore to look at the very best,” said Sabahan Architect Jeremy John Lo Vui Ken.

For instance, the staff will have separate lifts from the occupants.

“It will be the highest condominium complex in Malaysia and Southeast Asia with a 360 degree panoramic view of Kota Kinabalu sited on a five-acre land in an excellent location with good convenient accessibility,” said Datuk David Chu, the developer of the project.

Bolton signs JV for RM480m GDV Sabah development

By Ho Ching Ling of theedgeproperty.com
Wednesday, 21 November 2012 16:44


KUALA LUMPUR (Nov 21): Bolton Bhd has entered into a joint venture agreement with Mobuild Sdn Bhd for a residential development project in Kota Kinabalu, Sabah worth an estimated gross development (GDV) value of RM480 million.

The project — which represents Bolton's maiden project in East Malaysia — will consist of 500 units of luxury condominiums and 50 units of landed villas on a 10.33 acre land at Signal Hill and is slated to be launched in the first half of 2013.

"As you know, we have primarily been a Klang Valley developer, but we view Kota Kinabalu as a very good market," said group executive chairman Tan Sri Azman Yahya at the double signing ceremony today.

According to Azman, the partnership will be a 50:50 collaboration in which Mobuild will provide the land while Bolton will be responsible for the working capital and development of the units.

Azman added the group will be announcing more joint venture collaborations in the near future specifically one development in Penang and another in Kota Bahru, the latter which will be announced by end of this year.

"Bolton is currently being sought after as a desirable joint-venture partner due to our flexibility and adaptability when dealing with our partners and the type of attractive development concepts we bring," he said.

The group also signed a RM370 million financing facility with Affin Investment Bank today consisting of RM230 million Islamic medium term notes programme and a RM140 million revolving credit line, which Azman said will be largely utilised to finance land acquisitions and project financing.

"The facility also gives us the funds to undertake further land and development acquisitions to move us closer to our RM1 billion annual sales target we set to achieve in a couple of years," Azman added.

The property developer currently has a land bank size of 1,300 acres with the largest plot being the 625-acre land in Sungai Long.

"We expect to launch the first phase of this township comprising 160 acres within the next two years with a target GDV in excess of RM1 billion whereas the remaining phases will be developed over the next 10 years and could further generate GDV in excess of RM2 billion," he said.

RHB raises fair value for Mah Sing to RM2.58 after 3Q profit

By Cindy Yeap of theedgeproperty.com
Monday, 19 November 2012 17:46


KUALA LUMPUR (Nov 19): RHB Research Institute retained a neutral stance on Mah Sing Group Bhd but raised its fair value by 3.2% to RM2.58 after the property developer reported a 27.8% year-on-year jump in third quarter earnings Monday afternoon.

In a note following Mah Sing's results release, RHB said Mah Sing's 3Q earnings was "in-line" with expectations but it is raising its price target from RM2.50 to RM2.58 to account for higher gross development value (GDV) for the developer's Southville City and Sutera Avenue developments.

"We maintain our market perform rating on Mah Sing, as sentiment on property stocks is likely to stay cautious ahead of the general election," RHB said in a note today (Monday), adding that its price target was at a 15% discount to its revised revised net asset value estimate of RM3.04 per share.

RHB did not change its forecasts for Mah Sing, whose unbilled sales stood at RM2.95 billion.

May Sing is targeting RM3 billion sales for 2013, a 20% increase from 2012's target of RM2.5 billion.

"We believe the major contributor would be Southville City in Bangi, where GDV for the township project has been revised upwards to RM3.63 billion from RM2.15 billion as a result of proposed changes to the development components to include more commercial content," RHB said in the note.

Downside risks for the stock include softer economic growth dampening property demand.

At 4.31pm, Mah Sing was up 1 sen or 0.44% to RM2.28, off an earlier intra-day high of RM2.29, with about 1.4 million shares done.

RHB's price target of RM2.58 implies a 13.2% upside potential.

9 TIPS AND TRICKS FOR FIRST TIME HOME BUYERS – SUBSEQUENT SALE (AFTER ACCEPTING THE OFFER)

9 Tips and Tricks for 1st Time Home Buyers – Subsequent sale (after accepting the offer)

1.   Time is of the essence. Once you have accepted the offer to purchase, you will need to look for a lawyer as soon as possible to represent you in the sale and purchase transaction.

2.   You have to monitor the time period for the execution of sale and purchase agreement (“SPA”). Normally, the SPA is to be executed within fourteen (14) days from the date of acceptance of the letter of offer by the seller. In the event you fail to execute the SPA within the specified time due to your own delay in engaging your lawyer, the seller is entitled to forfeit the earnest deposit you have already paid to them.

3.   Always request an inventory list to be attached in the SPA if the property is sold with fixtures and fittings.

4.   Sort out your loan financing as soon as possible once you have accepted the offer, as late payment interest might be incurred if the delay in obtaining the loan cause the late completion of the SPA.

5.   You are eligible to withdraw your Employees Provident Fund (Account 2) to finance the purchase of property if you are a Malaysian Citizen or Permanent Resident, provided that you maintain at least RM500.00 in your Account 2.

6.   Be prepared that the transfer of your property might take a little longer if it is a leasehold property with individual title, which requires state consent. This does not happen if your property is still held under a master title.

7.   You are eligible to a once in a lifetime 50% remission on ad valorem stamp duty for the purchase of a unit of residential property with a purchase price of not more than RM350,000.00.

8.   You are eligible to a once in a lifetime  50% remission from the stamp duty chargeable on loan agreement to finance the purchase of a unit of residential property with a purchase price not more than RM350,000.00.

9.   Remember to file your Form CKHT 2A to the Inland Revenue Board. Every disposal and acquire of property must be declared to the Inland Revenue Board.