Sunday, September 18, 2011

Property sector of Malaysia

Well, the recent selldown of many property counters is not surprising...
As of today, most housing projects will still be selling like hot cakes in most of the areas in the country. Question is do we have secondary market demand? even those projects that costs around 400k are sold out in hours upon launch especially those from reputable developers....
I think there are so many sellers and so little buyers these days... therefore its buyers market.
Worst, the property sold in Malaysia are not habitable upon completion unlike houses in foreign countries like US, Aus, UK. Developers get good margin from the current model...
E.g. You buy a RM1.2-1.5mil condo in Penang and you still need to renovate at least 150-200k to make it cozy and feels like a home. Most of the materials are cheap parts and there is nothing in the unit for you to move in and stay...
Tell you what,... if you ask do we have a property bubble now?... I would say "fuck yeah, there is one big one", if the Europe thing go worse and Greece is bankcrupt and recession comes in 2012... property prices will drop significantly... that time you will get many houses on fire sale... just look at the supply...

KLCI, Malaysia and all the issues today...

Well, PM's named a few plans that pushes towards restoring the democratic freedom Malaysian have lost since few decades ago...before the people begin to feel that there is a hope in the country, we need to wait and see. PM of this country today have the tendency to flip from flop and the flip again....well, election is near and therefore such announcement is not surprising.

As a person who is born here and stay here for long enough, I can tell you, unless they implement all those and passed them into laws, all those politicians can say what they want.. its just lip service to me. The gov of Malaysia is famous for bad execution despite great plans.
Look at MAS, its not like the model is not working, its the management and also the reliability of its human resource in pushing for a change that's dragging MAS to red...

Proton is another joke that everyone is tired of... after so many years, they still "chiplak" Mitsubishi.... Naza is doing better than them... to me, for Malaysia to move forward, there are a few things we need to do in my opinion.

1) No bail out to the national car company and remove APs.
2) Improve purchasing power and disposable income. If you cannot improve the income of the people, reduce the ridiculous import tax on goods such as car which is an essential item today in every household, no thanks BN's bloody lousy city planning and nation development strategy. I doubt they even have a strategy in the first place. Just look at the recent MRT rush.
3) Implement selective protection policy on certain industry for the sake of Malaysian but remove the 30% equity requirement for certain race. If the gov is honest in helping to eradicate poverty, then allow the 30% equity to be given based on merit and to the public not to elites of strong political cables.
4) 1Malaysia, before you want the people to unite the gov must themselve unite. If PM and its people cannot even get themselves to unite on the malaysian first and race 2nd, just stop all these nonsense of hypocrite. Walk the talk else fuck off.
5) Implement a public sector hiring policy of certain % of race must be met for every gov sector and allow every level/position in the company to have different races holding positions. Most importantly the gov must ensure some form of incentives are given (tax rebate) when company practice the policy. Gov need to embrace diversity instead of making all GLCs, one race.

6) Fix the fucking education system by letting someone with credibility and capability to lead that area. I'm sure we have many people to choose from, it takes courage and a true patriot to do so. Education is afterall the foundation to a country's success. You want FDI, show us the brains!

7) Have the guts to charge those implicated in corruptions be it your colleague or your political opponent.
8) Rule of thumb in life: When people know they are supported even though they don't have to do anything to earn that support, they learned helplessness. On the other hand, if they know that they will have nothing to support them should they choose to laz around,...they will work hard for a living.