EP 2 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY

NEWS HIGHLIGHTS from www.EdgeProp.my

Three killed in Kuching mall blast WeWork to open ˎ rst ofˎ ce in Malaysia next year An explosion rocked CityONE Megamall in Kuching, Sarawak, at New York-based co-work- only are we trying to help around 3.30pm on Dec 4, killing ing space WeWork has an- companies around the three and injuring 44 people. nounced the opening of its world enter Malaysia, Kuching District Police Chief, first co-working space in we are also looking at ACP Ng Ah Lek said the dead were Kuala Lumpur in 1Q19. how we can work closely identifi ed as O Kui Lim, 49, Tchee To accommodate 1,900 with the government Kiom Joong, 24 and Chin Hsien members over five floors, and other partners Loong, 29. its biggest offi ce to date in around Malaysia to Two of them were workers of Southeast Asia will be locat- help expand globally. Nene Chicken, a restaurant in the ed at Equatorial Plaza and The WeWork network of mall that was undergoing renova- will off er three main servic- 335 physical locations tions while another was an employ- es – hot desking, dedicat- and 320,000 members ee of the contractor undertaking ed desks and private offi ce around the world is what the renovation works. suites. differentiates WeWork They were confirmed dead at Fees charged will include from similar co-working The Edge Property Sdn Bhd (1091814-P) the scene as the building structure 24/7 access to the offi ce, utilities, to enter the Malaysian market, spaces out there,” said Fuad. Level 3, Menara KLK, had collapsed on them during the free flow of beverages, meeting which is supported by the WeWork’s local partner for No 1 Jalan PJU 7/6, Mutiara explosion. rooms and printing service cred- sustained and strong outlook for Malaysia is Daman Land, whose Damansara, 47810 Petaling Jaya, Selangor, Malaysia The explosion was believed to its, high-speed WiFi access and Malaysia’s economy. role is to help WeWork engage with have been caused by a leaking gas entry to all 335 WeWork locations “WeWork has been around landlords as well as source for EdgeProp.my pipeline at the restaurant. globally. for eight years and what we are spaces to operate in, in Malaysia. WeWork Southeast Asia doing — especially in the global WeWork is currently present Managing Director/Editor-in-chief Au Foong Yee Forest reserve to director Turochas ‘T’ Fuad said network — is one thing that sets in 83 cities and 24 countries be degazetted for the American company is excited us apart from everyone else. Not around the world. EDITORIAL Executive Editor Sharon Kam housing project? Editor Lam Jian Wyn Deputy Chief Copy Editor A public hearing to obtain feedback (FRIM) in Kepong and stretches Abandoned was used this year to complete a James Chong on a proposal to degazette a part of over 3,624.1ha. project in Taman Desa Mawar in Copy Editor Vanessa Gnanasurian project revived Senior Writers the Bukit Lagong Forest Reserve in According to plans that are dis- Kuala Selangor. Rachel Chew, Tan Ai Leng Gombak for a housing development played at the Selangor Forestry The Selangor government’s “We are looking to fund two Writers project is under-way. The 30-day Department office in Shah Alam, RM18 million allocation for the other projects in Kampung Natalie Khoo, Shawn Ng Art Director Sharon Khoh hearing will allow stakeholders in a housing development has been completion of abandoned projects Melayu Rasah, Ampang Pecah Senior Designer the Gombak district to voice their proposed on a strip of land between under the Abandoned Projects and Kampung Koskan Sungai Jun Kit objections to the proposed degazet- the two residential areas of Taman Revival Fund (Tepat) has yielded Cho,” Haniza was quoted as saying Designer Rajita Sivan tement of 28.3ha near the fringe of Amansiara and Templer Hills, just results. in an English daily. the forest reserve. 2km away from the forest reserve’s Selangor Housing and Urban Haniza was answering a ques- For New Launches/Events/ The Bukit Lagong Forest Reserve recreational area of Taman Rimba Living Committee chairman Haniza tion from Lee Kee Hiong (PH-Kuala Press Releases/News Tips email: [email protected] is located close to the Forest Bukit Lagong and Kampung Orang Talha said RM6mil of the amount Kubu Baru) regarding the amount Tel: (03) 7721 8211 Fax: (03) 7721 8280 Research Institute of Malaysia Asli Bukit Lagong. which had been allocated in 2016 allocated to the fund.

ADVERTISING & MARKETING Associate Account Director, How do I get past issues of this weekly pullout? Advertising & Marketing trending Heidee Ahmad (019) 388 1880 Go to www.EdgeProp.my to download for free Senior Account Manager now Ian Leong (012) 359 1668 Account Manager Evelyn Chan (012) 383 7484 If you have any real estate-related events, email us at [email protected]. Marketing Support & Ad Trafˎ c LAUNCHES + EVENTS Madeline Tan (03) 7721 8218 Events listed here will also appear on www.EdgeProp.my. email: [email protected]

BUSINESS DEVELOPMENT Enchanted Treat your kids to a fun day out Manager Nimalen Parimalam Christmas at Bandar at Sime Darby Property’s SERINI Account Manager Stannly Tan Sri Sendayan Melawati. Enjoy the petting zoo PRODUCT DEVELOPMENT Date: Dec 8 & 9 (Sat & Sun) as you teach the kids a thing or & CUSTOMER ADVISORY Time: 10am to 9pm two about our delightful animal Senior Manager Elizabeth Lay Venue: d’Tempat Country friends. Light refreshments will Associate Omar Nawawi Club, PT 12653, Jalan be provided, along with other fun For enquiries and listings Pusat Dagangan Sendayan activities for the little ones. both kids and parents. Put your WIN email: [email protected] 1, Bandar Sri Sendayan, hands to work, and craft a beau- Tel: (03) 7721 8174 / 8173 Joey Yap’s Feng Shui two Negeri Sembilan Christmas by the lake tiful piece of pottery to proudly & Astrology Live tickets! EdgeProp.my pullout is published Contact: (06) 792 2688 Date: Dec 8 & 9 (Sat & Sun) display at home! Limited seats, by The Edge Property Sdn Bhd. It is Immerse yourself in the stun- Time: 11am to 6pm so RSVP now. Seminar 2019 available with The Edge Financial Daily every Friday. The pullout ning Christmas decor and festive Venue: Sunway Serene Sales Date: Jan 5 (English) & 6 (Cantonese) is also distributed at more than activities at the event organised Gallery, Lot 72241, Jalan UK Tax Talk & Time: 10am to 5pm 200 ofˎ ces, shopping complexes, Budget Updates condos, medical centres and F&B by Matrix Concepts Holdings SS8/2, SS7, Petaling Jaya Venue: Malaysia International Trade outlets in the Klang Valley. You can Bhd. There will be a Winter Contact: (017) 964 0788 Date: Dec 8 (Sat) and Exhibition Centre (MITEC), No 8, also download it for free at Wonderland Inflatable Globe, Join Sunway Property for an Time: 10am to 6pm Jalan Dutamas 2, Kuala Lumpur www.EdgeProp.my 9D Virtual Reality stations and early Christmas celebration by (Talk at 2pm) Contact: (03) 2284 8080 you’ll even get the chance to the lake at Sunway Serene and Venue: Iris & Hibiscus Th e Edge Malaysia feed deers. enjoy activities such as an out- Room, One World Hotel, The year 2019 is upon us and once door movie screening, a Christ- First Avenue, Bandar again the annual Joey Yap Feng Shui Publisher and Group CEO Petting zoo at mas socks workshop and a DIY Utama, Petaling Jaya & Astrology Liveve Seminar Ho Kay Tat SERINI Melawati Christmas tree workshop. Contact: (016) 228 is back! Join a cocontestntest EDITORIAL Date: Dec 8 & 9 (Sat & Sun) 8691, (016) 228 9150 exclusively for Editor-in-chief Azam Aris Time: 10am to 5pm Pottery workshop Organised by CSI Prop, the EdgeProp.my readerseaders CORPORATE at Setia EcoHill Chief Operating Ofˎ cer Venue: Sime Darby Property talk at 2pm features Adams and win two ticketsckets Lim Shiew Yuin at SERINI Melawati, Level Date: Dec 8 & 9 (Sat & Sun) and Moore UK’s Tan Siew Nee to the seminar. GoGo to ADVERTISING & MARKETING 8, Tower 2, Off Jalan Time: Session A: 11am; who will enlighten guests on www.EdgeProp.my,.my, Chief Commercial Ofˎ cer tax changes in the UK and how to submit your mosmostt Sharon Teh (012) 313 9056 Lingkaran Tengah 2, Desa Session B: 2pm General Manager Melawati, Kuala Lumpur Venue: Setia EcoHill Welcome they aff ect investors. Learn more interesting Fengg Kingston Low (012) 278 5540 Contact: (03) 4162 1788 Centre, No. 1, Persiaran about the new Foreigner’s Stamp Shui questions Senior Sales Managers Ecohill Barat, Setia Ecohill, Duty Surcharge, increases in and be in the Fong Lai Kuan (012) 386 2831 Gregory Thu (012) 376 0614 Semenyih, Selangor Personal Income and Capital running to Creative Marketing Contact: (03) 8724 2255 Gains tax allowances as well as win. Contest Chris Wong (016) 687 6577 Join S P Setia Bhd at Setia other deductions and tax ben- ends Dec 19. Head of Marketing Support & Ad Trafˎ c EcoHill for a hands-on creative efi ts that apply to property and Lorraine Chan (03) 7721 8001 pottery workshop that is fun for other forms of investments. FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 3 EP 4 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY NEWS

UEM Sunrise ventures into hospitality with Hyatt House hotel

PICTURES BY LOW YEN YEING | EdgeProp.my BY NATALIE KHOO

KUALA LUMPUR: UEM Sunrise Bhd opened the fi rst Hyatt House in the Southeast Asian region at Mont’Kiara, Kuala Lumpur yesterday. Located at UEM Sunrise’s mixed development Arcoris Mont’Kiara, the four-star extended stay hotel marks the developer’s fi rst foray into the hospitality sector. It is also currently the largest Hyatt House in the world. Featuring the ambience of a luxury home, Hyatt House Kuala Lumpur, Mont’Kiara features over From left: UEM Sunrise Bhd general manager retail & assets management Devamanokaran 298 contemporary, residential-in- Poonagasu, Kofː er, Anwar, UEM Sunrise chief ˎ nancial ofˎ cer Mohamed Rastam Shahrom, spired studios and suites with fully and Hyatt House Kuala Lumpur general manager Bennett Peter at the opening ceremony equipped kitchens, living rooms of Hyatt House Kuala Lumpur. and bedrooms. Th e hotel also off ers a three-meal restaurant, take-away missing, and we believed we need- tels & Resorts regional vice pres- options at the 24-hour H Market ed a hotel. Having Hyatt House in ident Michael Koffl er said Hyatt Designed by store, free Wi-Fi, a 24-hour fi tness Mont’Kiara is like completing a piece House is supported by house hosts. Foster + Partners, centre, an infi nity rooftop sky pool of the puzzle in our development. We “When you come and visit our Hyatt House and the TEN 37 Pool Bar. are thrilled to have a world-class hotel house, you are hosted by our house Kuala Lumpur is The hotel is designed by chain as one of the fi ve components host because it is like a home. Our the biggest Hyatt world-renowned architectural fi rm of Arcoris Mont’Kiara. mantra in Hyatt is that we care for House hotel Foster + Partners. “The residential-inspired ho- people so that they can be at their in the world At the opening ceremony, UEM tel which focuses on providing a best,” added Koffl er. to date. Sunrise managing director and CEO home-like atmosphere, comple- Hyatt House enables guests to Anwar Syahrin Abdul Ajib said the ments the concept that inspires us live and work just as they might as most landlords would not ac- “We can also take them for a tour company has developed Mont’Ki- when developing our residential within their own homes. Rooms are commodate shorter term rentals, of the rooms on off er, to choose the ara for over 30 years and has seen off erings — that is to build com- fi tted with amenities such as wash- such as for a month. unit they want to stay in” Koffl er the area evolve, thanks to the pres- munities, where people can feel ing machines and a fully-equipped It also off ers the A Very Important added. ence of food & beverage outlets, a sense of belonging and call it kitchen. Resident (VIR) programme that pro- Th e next Hyatt House is currently international schools and a mix of home,” said Anwar. Koffl er said this is an opportu- vides complimentary grocery shop- in the works in Melaka. Th e Hyatt international and local residents in Meanwhile, Hyatt Place/Hyatt nity for those from abroad who are ping service, and other personalised House brand was launched in 2012 its community. House and Full-Service Franchise looking for a short-term stay while perks for guests who stay more than and off ers more than 85 locations “But there was always something Operations, Asia Pacifi c Hyatt Ho- they fi nd a more permanent home, 30 plus consecutive nights. around the world.

Temokin gears up for phase two of Mahligai in JB

PICTURES BY TEMOKIN HOLDINGS BY NATALIE KHOO ble growth. On the whole, we are quite bullish on Malaysia’s property SENTUL: Boutique property devel- market,” said Tan. oper Temokin Development Sdn Th e developer currently has 50 Bhd, a subsidiary of construction acres of landbank divided among outfi t Temokin Holdings Sdn Bhd Johor, Negri Sembilan and the will be launching the second phase Klang Valley. of Mahligai homes in Johor Bahru “In the foreseeable future, our next year (2019), CEO Tan Chien eff orts will be focused on Mahligai Chyi told EdgeProp.my. at Nusa Damai, Johor. As a boutique This follows the success of developer and with Mahligai being Mahligai’s fi rst phase which has our maiden development, we want been over 95% sold since its launch to give Mahligai and its buyers all our in September, Tan told EdgeProp.my. attention. Moving forward, we see “Th e pull factor is no secret. It this same philosophy being extend- was just a matter of matching the An artist’s impression of Mahligai. Tan: Johor’s property market will ed to each project that we launch. demands of homebuyers in the area continue to be challenging, but “Next year will be quite exciting and building to their requirements, sq ft for corner units. We are also in the midst of looking demand is there so long as the for us. Our target is to double our with quality,” said Tan. Phase 2 of Mahligai will fea- into other aspects of the product properties are appropriately priced gross development value as well as Located at Nusa Damai in Pasir ture 87 double-storey terraced that we can improve for phase two,” and are in good locations. organically increase the net sales of Gudang, Mahligai marks Temokin homes whilst phase 3 will feature Tan says. Th e price of homes in the our Johor properties. As mentioned, Development’s debut as a property 23 exclusive, three-storey terraced fi rst launch started from RM564,000 as the properties are appropriately Mahligai is our fi rst project so we developer. Located on 11.75 acres homes. Phase 2 of Mahligai has before Bumiputera discount. priced and are in good locations, es- want to ensure we build a positive, of freehold land, Tan says the pro- been opened for registration and Th e fi rst row of homes of Mahli- pecially in mature neighbourhoods. solid foundation for the Temokin ject has a gross development value has received a good response. gai phase one has been construct- “Starting on the construction Development brand before mov- of RM100 million and is targeted All homes feature spacious open ed so that homebuyers can get a of the homes before the launch ing on to new projects,” Tan said. at owner occupiers and families. plan layouts and column-free car feel for what it is like to live there, helped build the confi dence of our Temokin Holdings is a construc- The project comprises three porches whilst every bedroom he added. potential buyers. On the broader tion company and its portfolio phases, with phase one consisting comes with an attached bathroom. “Johor’s property market will market, we foresee that residen- ranges from the construction of of 53 double-storey terraced homes “The units will be priced 5%- continue to be challenging, but tial high rises will run into sales the Seremban Middle Ring Road to with a built up area of 1,679 sq ft 10% higher compared to the sell- as we have shown at Mahligai’s challenges, but landed residential the construction of the new Istana for intermediate units and 1,752 ing price of our previous launch. launch, demand is there so long properties will continue to see sta- Negara. FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 5

Why rent when there’s FundMyHome?

Say you and your spouse are in your late 20’s, with two beautiful Buying through FundMyHome rather than renting during the children. You earn just over RM5,000 a month – barely enough Ё˥˦˧ Ё˩˘ ˬ˘˔˥˦ ˣ˨˧˦ ˬˢ˨ ˜ˡ ˔ ˕˘˧˧˘˥ Ёˡ˔ˡ˖˜˔˟ ˣˢ˦˜˧˜ˢˡ ˙ˢ˥ ˔ to cover your car loan, groceries, utilities and other expenses. mortgage thereafter. You’ve delayed buying a house and are renting a 3-bedroom, 900 sqft apartment for RM1,200 a month. Year 6 and beyond

How can FundMyHome help you buy a home? Continuing your journey as a homebuyer under FundMyHome, by Year 6, you would have accumulated RM60,000 or 20% equity First up, it offers a variety of homes to suit your family’s needs. in the home (Table 2). Let’s say you choose a newly-built apartment costing RM300,000. Should you choose to apply for a 80% mortgage to buy the Under FundMyHome, you need to pay just 20% of the purchase home, you need no further funds to meet the downpayment, price to secure your home. And you can do this by taking a assuming the home price is unchanged at RM300,000. And if it 5-year personal loan of RM60,000 at 7% p.a., which works out to rises, to say RM350,000, you only need to top up RM10,000. a repayment of just RM1,200 a month.

FundMyHome will help raise the balance of 80% from institutions. Table 2: And once the buying process, including vacant possession is A Better Position for a Mortgage in Year 6 completed, you and your family can move in. Renting FundMyHome

Yes, you will still have monthly payments to service your Equity in home at start of Year 6 0 60,000 personal loan. But the big difference is, while previously you paid rent, your monthly payments now go to building up your equity. If you service your loan promptly each month, it will also Funds needed for 20% downpayment: improve your credit rating. Your family enjoys the security of If the home price stays at RM300,000 60,000 0 living in your own home, without worrying about rental If the home price rises to RM350,000 70,000 +10,000 increases or the landlord asking you to vacate. If the home price falls to RM270,000 54,000 +24,0001 ʴ˧˧˛˘˘ˡ˗ˢ˙Ё˩˘ˬ˘˔˥˦ʟˬˢ˨˪˜˟˟˛˔˩˘˘ˤ˨˜˧ˬ˪ˢ˥˧˛˅ˀʩʣʟʣʣʣ˜ˡ

a home under your name (Table 1). If you had continued to 1 Due to the fall in home price, your remaining equity of RM30,000 is your original 20% rent, you would have nothing to show for the 5 years’ worth of equity of RM60,000 less the loss of RM30,000. The RM24,000 refers to the top up amount required to meet the new 20% equity of RM54,000 based on home price of RM270,000. rental paid.

Rental: The more expensive alternative Table 1: Renting versus Buying under FundMyHome On the other hand, if you had stayed in a rented house ˧˛˥ˢ˨˚˛ ˧˛˘ Ё˥˦˧ Ё˩˘ ˬ˘˔˥˦ʟ ˬˢ˨ ˪ˢ˨˟˗ ˛˔˩˘ ˡˢ ˘ˤ˨˜˧ˬ ˜ˡ ˧˛˘ Renting FundMyHome home and would need to raise a further RM60,000 towards the Upfront cash required 0 0 downpayment of 20% to purchase the same home costing RM300,000 (Table 2). If the home price rises to RM350,000, you Monthly rent (Year 1–5) 1,200 - would need to raise a higher sum of RM70,000. Monthly Loan repayment (Year 1–5) - 1,2001 The reality is, you will NEVER be worse off with FundMyHome, Ownership at end of Year 5 0 60,000² compared to renting. If the house price falls by 10%, you would still have positive equity value of 10% of the original house price. 1 Arises from servicing the 7%, 5-yr RM60,000 personal loan (reducing balance) taken out to fund 20% of the purchase price. Even if the house price falls by 20%, you are not worse off than 2 Value of the homeowner’s 20% equity assuming the property price remains unchanged. renting. The positive equity value created is what will help you to eventually own the home completely.

“Pay RM1,200 per month in rental for 5 years? Or pay RM1,200 per month towards owning my own home? The choice is obvious!”

FIND OUT MORE AT FundMyHome.com

CONTACT: +603 7449 2730 EMAIL: [email protected]

EDGEPROP SDN BHD (1301226-V) EP 6 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY NEWS

Malaysian AYDA 2018 winners to compete regionally for Harvard programme

LOW YEN YEING | EdgeProp.my BY SHAWN NG

KUALA LUMPUR: Malaysian win- ners of the Asia Young Designer Award 2018 (AYDA 2018) will be representing the country to com- pete with winners from 14 geo- graphical locations across Asia for the title of Asia Young Designer of the Year 2018/19. The two winners were an- nounced in a ceremony on Dec 5. Loo Yi from Universiti Malaya (UM) and Zachary Khaw Lit Siang from Taylor’s University won Gold Awards for the Architecture and Interior Design categories respec- tively, having beaten 1,260 other entries to the annual interior design and architecture competition this year. AYDA 2018 was spearheaded by Nippon Paint and supported by IJM Land Bhd. Loo and Khaw will take their winning projects to Singapore in PICTURES BY AYDA March 2019 to compete against director Edward Chong said the Top: Goh and winners from Bangladesh, China, company is immensely proud of Chong (7th Hong Kong, India, Indonesia, Iran, AYDA and the way in which it has and 8th from Japan, Pakistan, the Philippines, evolved internationally, as winners left, back row) Singapore, Sri Lanka, Taiwan, Th ai- prove year after year that they are celebrate with land and Vietnam and will strive to designers shaping the future of the AYDA 2018 win a six-week all-expenses-paid industry. judges and design programme at the Harvard “Our partnership with Nippon winners. Loo and Graduate School of Design. Paint is in its fi fth year, and aims Khaw are seated In her opening speech at the to connect students to the heart (4th and 5th AYDA 2018 awards ceremony, Nip- of the industry, to build places and from left). pon Paint Malaysia group general spaces for vibrant living and thriv- manager Gladys Goh said the goal ing sanctuaries [that are] respectful Right: Gold of this year’s theme “Forward: Chal- of nature, that resonate with fami- winner in the lenging Design Boundaries” was lies, businesses and communities. architecture to dare young designers to look We strongly believe in shaping and category, beyond the conventional limita- empowering young talents who will ‘Mangrove tions of design, while considering essentially transform the architec- Charcoal Living how the act of designing can bring tural and interior design panorama Museum’ by Loo. a positive impact to environmental of our future,” he continued. issues, infuse new values into so- cial and cultural contexts, enhance The winning designs community living and lifestyle, and According to Sarly Adre Sarkum, [of the project site],” Sarly said at a the area into a new tourist attrac- budding fashion designer. In cre- encourage progressive growth and chief judge of the Architecture cat- press conference after the awards tion and educational site. ating “Th e Weave”, I wanted to give development in a city. egory, Loo’s project “Mangrove ceremony. It features a history and science young fashion design students a leg “We are extremely proud of Charcoal Living Museum” won Th e student from UM has de- zone, charcoal art gallery, souve- up in the industry and help them the Malaysian winners. Th ey have top honours in the Architecture signed a museum on a 3.7-acre nirs, a restaurant where one can become successful, thanks to the shown us what it means to question category due to its sustainable de- site within a mangrove forest in dine within a lanai, kids’ reading facilities incorporated into the de- creative perimeters and think in a sign that echoes this year’s theme. Kuala Sepetang, a small coastal alcove, community spaces, boat sign,” he said. forward-looking, innovative way “[Th e design of the project] fi ts fi shing village in Perak. Th e aim is and fishing rental service areas, Envisioned as a 3-storey design that breaks the norm of design as the theme in a very unique way to preserve the existing traditional community libraries, living labs hub, the site identifi ed for the pro- we know it,” she said. and it [has included] both the en- charcoal factories and the natural and offi ces for the charcoal facto- ject was the City Harvest Church Meanwhile, IJM Land managing vironment and cultural aspects mangrove forest while transforming ries, Loo said during a presentation KL, located in the Subang Jaya In- of the winning work. dustrial Estate, Selangor. Th e area “When I came up with this de- is conducive for industrial energy, sign, I wanted it to be not just a gal- yet close enough to residential areas lery to display collections of physi- and thus accessible to consumers, cal remains at Kuala Sepetang, but explained Khaw. also a site to incorporate the locals’ Chief judge of the Interior De- non-material cultural practices and sign category Lai Siew Hong, who natural forestry heritage,” he added. is the chief executive designer of Meanwhile, Khaw, the winner Blu Water Studio, said the judges of the Gold award in the Interior were amazed by Khaw’s work, with Design category said he took inspi- its underlying purpose of creating ration from the local fashion design an impact on society and future industry and manifested his ideas generations. into “Th e Weave”, which is a fashion “What he has done is not just incubator for local designers and about aesthetics. It has its purpose an upcycling design facility to turn and he designed from his heart, old textiles into new outfi ts. with the focus being its impact on “Th is project has actually been the next generation. We felt the strong a personal one for me, as I am in- purpose helped him focus his design, terested in all branches of design using what he feels to create a space The Interior Design category gold winner, ‘The Weave’ by Khaw. and understand the struggles of a that will impact others,” he said. FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 7

hen Forest City won the United Nation’s (UN) Global Model Wof City-Industry Inte- gration Award at the 2018 Sustainable Cities and Human Set- tlements Awards (SCAHSA) on Oct 30, 2018, it was a testament to the developer’s ongoing efforts “to create a better society with our existence”. As the developer of Forest City in Iskandar Malaysia, Johor, this principle is demonstrated not just through Country Garden Pacificview Sdn SK Tanjong Adang Bhd’s (CGPV) business operations, but students and even more in its three-pronged corporate teachers posing social responsibility initiatives, which are with their newly youth education and empowerment, so- refurbished school. cietal development and environmental awareness. Invited to speak as the only Malaysian representative and panellist in the 2018 Annual Session of the Global Forum on ‘Our journey towards Human Settlements (GFHS 2018) held at the UN Conference Centre in Bangkok during the event, Country Garden Malaysia and Forest City director of strategy Ng Zhu Hann stressed the importance of social ’ inclusion. “For a project to be successful, social inclusion you need to engage stakeholders, not only the government and other related businesses, but more importantly the local villages and community around you. You must take care of their needs, their education and a RM5 million research grant to its re- their welfare.” nowned Department of Aquaculture and In 2019, the company plans to set up the Department of Biology to transplant the Yayasan Forest City to further pursue and rehabilitate the sea grass around the its charity works. In early October, Forest Forest City project. As part of the five-year City also committed to the National Hous- agreement, the UPM team has been con- ing Policy by assisting the government in stantly monitoring the growth of seagrass building affordable houses at cost price. at Forest City and other Environmentally Additionally, the company has signed up as Hann (centre) Sensitive Areas since March 2015. Since one of the developers to revitalise PPR pro- spoke of social then, the Merambong seagrass around the jects under Dasar Komuniti Negara by the inclusion at the development has fully recovered its original Ministry of Housing and Local Government. GFHS 2018 which size of 26.5ha with 12 different species hav- was held at the ing been transplanted to the shelter area. YOUTH EMPOWERMENT AND United Nations UPM Department of Biology head Prof. SOCIETAL DEVELOPMENT Conference Dr. Japar Sidik said, “The team from Forest Education has always been close to the Centre in City has been working on the transplant heart of Country Garden Holdings’ founder, Bangkok. of seedlings on a monthly basis, and the Yeung Kwok Keung. Living in Guangdong, seedlings we have transplanted in 2016 are China then, Yeung almost got his school- sports facilities. Drawing on its own in- Johor as we believe education will change now growing well.” ing prematurely axed because his father house expertise, the works received hands- one’s destiny. “Having Forest City as our industrial couldn’t afford the school fees. Thankfully, on support from Forest City’s teams in pro- “Forest City will continue to align with partner has greatly benefitted the faculty, his teacher went out of her way to persuade ject, landscape, design and construction. the government’s call for more public-pri- especially in providing hands-on experi- his father and secured the young Yeung a According to school principal Noriah vate partnership in overall economic ac- ence to the students,” UPM vice chancellor scholarship to complete his studies. Md Jidin, the revitalisation has filled the tivities and social development, especially Prof. Datin Paduka Dr. Aini Ideris added. Impacted by this benevolence, Coun- school children with a renewed sense of the upgrading of education infrastructure The company also provides financial try Garden Holdings, through its Poverty pride in their school and the motivation as per Budget 2019,” Hann states. support to Kelab Alami, a community-based Reduction Foundation in Rural Areas, has to attend school. Besides these major projects, Forest initiative started by environmentalist Dr set up the Guo Hua Memorial School in “A conducive learning environment is City has other regular activities to promote Serina Rahman, whose PhD work is on Foshan, China to provide opportunities important so that the children can study learning such as English workshops for marine education and community empow- for the poorest of the poor to get a prop- well, and the teachers can teach effectively, SPM students in Johor. It also established erment. The NGO is also given exposure er education. Since 2002, half of Yeung’s while the parents can have peace of mind a scholarship programme amongst which opportunities in Forest City to showcase wealth has been poured into supporting knowing that the children are in a safe the company offered eight full scholarships its work on green nature preservation. this school and other philanthropic ven- environment,” says Hann. to Universiti Teknologi Malaysia in Johor tures. With the capacity to house 500 stu- “Education and poverty alleviation have and 10 vocational scholarships to Southern LONG TERM PARTNERS dents, the Foundation pro-actively seeks always been the hallmarks of Forest City College, Johor. “Forest City believes in the potential of out underprivileged children with excel- and Country Garden Holdings. Apart from Malaysia. The future of the country lies lent academic records across the country, taking care of the villages and communi- ENVIRONMENTAL AWARENESS in empowering the people and communi- offering them exemption from all charges ty near our development, we are planning In cooperation with Universiti Putra ty, where the B40 and M40 are taken care including tuition fees, text books, meals to expand this initiative to other areas in Malaysia (UPM), Forest City has given of, especially in the area of education and and accommodation. self-development. As the company intends In Johor, the company has adopted seven to stay for the long term, we will contin- government schools – providing them with ue to contribute to the rakyat to the best the financial support to fund extra language of our ability for the good of the nation. classes and textbooks for the needy, to repair A new Malaysia, a new hope, and no one and rebuild the rundown teaching facilities, should be left behind. We would like to be to decorate the compound, and to fix access a part of that journey,” Hann concludes. roads near the schools. Dubbed the Forest City Adopted School Revitalisation project, the initiative com- menced in September by rejuvenating SK Tanjong Adang in Gelang Patah. With an allocation of RM550,000, the 100-year- old village school was given a facelift that included repairing the staircases; fixing plumbing and wiring; repainting the school facade and mural; and refurbishing the common areas, security guardhouse and SMK Tanjong Adang Form 5 students who attended the SKOR A SPM workshop organised by Forest City. EP 8 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY COVER STORY

BY TAN AI LENG

niversities and schools, good food, and heavy traffic are probably amongst the top three things that come to Subang Jaya’s mind when Subang Jaya is mentioned. UFor property hunters and homebuyers, this vibrant suburban town in the state of Selangor — fi rst developed over four dec- ades ago — would be at the top of their list of foundation in desirable locations. One of the main factors supporting this demand is the existence of the many educational institutions in the area. Henry Butcher Malaysia chief operating offi cer Tang Chee Meng tells EdgeProp.my that Subang Jaya always appears on the ra- dar of those looking for a home or a proper- EDUCATION ty to invest in, primarily due to its self-sus- taining components, which are constantly refreshed with new elements such as new Th e site will be redeveloped as a small From rubber estate to thriving Based on Subang Jaya Municipal Council purpose-built offi ces, hipster hangouts and offi ce/home offi ce (SoHo) project which township (MPSJ) data, the 70.41 sq km municipality shopping malls that regularly have some- caters to young working adults and students. Located in the Southwest of Kuala Lumpur, is home to 642,100 people as of 2015. thing new for visitors. It will off er 483 SoHos, with a standard built- Subang Jaya was originally a rubber estate MPSJ data also showed that the number Hartamas Real Estate (M) Sdn Bhd prop- up area of 563 sq ft housed in two 21- and until the then Sime UEP Properties Bhd, a of residents in Subang Jaya exceeded half erty advisor Teh Boon Keat says Subang Jaya 14-storey towers, and 770 parking bays. subsidiary under Sime Darby Bhd, kicked a million in 2004 with annual population has earned the moniker ‘University Town’ Tang describes Subang Jaya as a good off the housing development in 1976 on growth at an average of 2.1% or 12,233 people. due to the number of private universities model of a sustainable township with its the tracts close to SS7 in Petaling Jaya and In addition to the well-connected road that have set up campuses here. ample amenities and facilities, and vibrant U1 Shah Alam (the area currently known network formed by the Federal Highway, Th e cluster of tertiary educational insti- commercial component that continues to as SS12 to SS19). Thanks to the strategic Persiaran Kewajipan and Persiaran Tujuan tutes that makes Subang Jaya well known as attract traffi c to the area. location, this area soon became a popular as well as the Shah Alam Expressway (KES- an education hub includes INTI International He says that this model may be replicat- address for new homebuyers. AS), North South Expressway Central Link University & College Subang, Sunway Uni- ed, as long as supporting amenities such Subang Jaya municipality comprises areas (ELITE), Damansara-Puchong Highway versity, Th e One Academy, Monash Univer- as shopping malls, eateries, entertainment administered by the Petaling District Council (LDP) and New Pantai Expressway (NPE), sity Malaysia, Taylor’s University Lakeside centres, housing accommodation and a good and Shah Alam City Council. Areas carrying Subang Jaya is also served by several light Campus and Segi College. public transport system are available to ca- the Subang Jaya address include USJ, Pu- rail transit (LRT) stations including Subang Overall, there are at least 14 tertiary insti- ter to the younger demographics. tra Heights, Batu Tiga and Bandar Sunway. Jaya, USJ 21, SS15, USJ 7 and Taipan stations, tutes in Subang Jaya off ering various courses as well as one BRT station in USJ 7. that attract not only locals but also foreign SAM FONG | THE EDGE HARTAMAS REAL ESTATE PROPEDIA CONSULTANCY Teh says the mature infrastructure de- students. velopment and public transport system is “Subang Jaya is blessed with a large num- certainly a growth factor for the area. ber of schools both local and international, Compared to other popular locations as well as tertiary education institutes which in the Klang Valley such as Petaling Jaya, have attracted many residents to the township. Bandar Utama and Taman Tun Dr Ismail “The large student and working pop- (TTDI), secondary property prices in Subang ulations have also provided support for Jaya are relatively lower. For instance, one commercial activities and created a healthy could fi nd a landed freehold double-storey rental market in SS12 to 19, USJ and Bandar terraced house measuring 20ft by 60ft for Sunway areas,” says Tang. around RM650,000, he adds. For example, Asia Café in SS15 was an EdgeProp.my data shows that the trans- iconic food haven in Subang Jaya. Th e 2.05- action price of semidees in Subang Jaya acre food court off ered over 100 food stalls averaged RM432 psf based on land size and was a favourite haunt for students, young in 1H2018, while the average selling price working adults and foodies in general be- of semidees in Petaling Jaya was around fore it ceased operations at end-2017 to give Tang: Subang Jaya will Teh: Subang Jaya’s proximity How: For investors, high RM534 psf in the same period. way to the Grand Subang Jaya development continue its growth to Shah Alam and Port prices now do not help Meanwhile, the transaction price of con- by Mediaraya Sdn Bhd, the landowner and momentum supported by Klang has also attracted capital appreciation in the dominiums in Subang Jaya averaged RM441 boutique developer. healthy fundamentals. expatriates. short run. psf in 1H2018, lower than the average sell-

Over the past six years, landed homes in Subang Jaya have enjoyed price appreciation of between 9.5% and 28%. EdgeProp.my PICTURES BY LOW YEN YEING PICTURES BY LOW | FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 9 COVER STORY

Subang Jaya KTM/ LRT interchange L station J/K PJ The cluster of Shah To P N educational Alam PE institutes makes ay Subang Jaya ighw SUBANG al H der JAYA way a well-known Fe SUNWAY igh H education hub. e AS in ES ay BRT L K hw ig H S K KTM A E Subang S e L KOMMUTER E I m T K E

u

P H Jaya n

D i i g L LRT SRI n h g PETALING w USJ - LINE S a h y a Klang h A River la m H LRT D ig h KELANA a m w JAYA LINE a a y n y ( s a L Puchong a w K h r g S a i A - H P

) S u A PUTRA c S h E HEIGHTS o K n Kota Putra g Heights LRT H Kemuning ig interchange hwa station y (LDP)

ing price of condominiums in Petaling Jaya dent and working population, demand for Price trend of different housing types which stood at RM482 psf. smaller housing units have remained strong. Teh notes that besides the education ele- “Most of them are looking for a one-bed- for Subang Jaya and its vicinity ment, Subang Jaya’s proximity to Shah Alam room unit or bedroom rental… a one-bed- and Port Klang has also attracted expatriates room monthly rental may range from TYPE OF HOUSING AVERAGE PRICE PSF (RM) who prefer to live in high-rise residences RM1,000 to RM1,500, while two-bedroom Detached houses close to their workplaces. units can range from RM1,500 to RM2,500 “Compared with Shah Alam and Port depending on the furnishing and the quality AREAS 2012 2013 2014 2015 2016 2017 6-YR (%)** 1H2018 Klang, Subang Jaya has more rental off erings of the development,” she adds. Subang Jaya 482 586 471 562 480 540 12 537 with easy reach to all kinds of amenities. Th is Despite the strong demand for rental is defi nitely a pull factor for expats,” he says. units, she opines that rental yield may not Puchong 162 187 143 280 288 271 67 400 be as good, since property prices in Subang *Shah Alam 274 339 301 279 241 315 15 214 Housing prices continue Jaya are higher than other newer areas. Kota Kemuning 368 413 385 450 381 391 6 394 to climb “Nevertheless, some owners have spot- Subang Jaya property prices have enjoyed ted opportunities in short-term rentals and Petaling Jaya 300 350 308 406 368 352 17 327 steady growth over the years. Th e non-land- turned their units into Airbnb units. Th is ed residential segment has seen signifi cant could generate higher rental income for them Semidees capital appreciation over the past six years as demand for such rentals from business trav- AREAS 2012 2013 2014 2015 2016 2017 6-YR (%)** 1H18 from 2012 to 2017. ellers are increasing,” adds How. Th e average transaction price of serviced Although prices are considered high at Subang Jaya 441 454 415 448 529 483 9.5 432 apartments have risen 49.6% to RM585 psf present, Tang from Henry Butcher opines that Puchong 335 372 388 413 350 306 -8.6 277 in 2017 from RM391 psf in 2012 while con- as a mature developed area that is well-con- *Shah Alam 353 360 394 372 345 390 -10.5 343 dominiums have seen their average selling nected to other cities or commercial hubs, price rise to RM448 psf in 2017 from 330 Subang Jaya will continue its growth mo- Kota Kemuning 328 349 387 335 538 332 1.2 417 psf (2012), a capital appreciation of 35.7%. mentum supported by healthy fundamen- Petaling Jaya 519 533 567 577 497 508 -2 534 Landed housing prices have also been tals — location, amenities and a growing on the uptrend, though not as steeply as population. Terraced house non-landed homes. “Th e good sales performance of recent Terraced homes in Subang Jaya have seen new projects such as Lot 15 by Sime Darby AREAS 2012 2013 2014 2015 2016 2017 6-YR (%)** 1H18 their average transaction psf (based on land Property Bhd and the Grand Subang Jaya Subang Jaya 361 411 445 453 453 462 28 453 size) in 2017 rise by 28% to RM462 psf from shows that property buyers still like Subang RM361 psf in 2012 while detached homes Jaya,” he says, adding that newer townships Puchong 312 352 387 384 404 414 32.7 413 were up 12% to RM540 in 2017 from RM482 like Putra Heights off er cheaper options in *Shah Alam 294 327 356 338 394 384 30.6 360 in 2012. Of all residential types, semidee Subang Jaya for homes with lifestyle elements Kota Kemuning 298 359 401 407 422 385 29 440 homes had the lowest capital appreciation and are close to the public transport system. growth of 9.5% over the same period with For investors, Tang advises them to look Petaling Jaya 404 433 471 448 495 495 22.5 439 average selling price of RM483 psf in 2017 at terraced houses in older areas such as compared with RM441 psf in 2012. SS12, SS14, SS15, SS17 and SS19, for their Condominium Despite its good accessibility and ameni- strong rental market. AREAS 2012 2013 2014 2015 2016 2017 6-YR (%)** 1H18 ties, real estate agency Propedia Consultancy “For those who desire a quiet and classy founder and principal Vicky How observes neighbourhood, areas like USJ 5, USJ 11 Subang Jaya 330 348 373 403 426 448 35.7 441 that current demand for residential proper- and USJ 16 would be good options to con- Puchong 250 295 306 311 358 369 47.6 349 ties in Subang Jaya will not be as good as fi ve sider,” he adds. *Shah Alam 267 285 284 324 345 361 35 335 to six years ago due to the high entry cost. Propedia’s How observes that in USJ ar- “Housing prices (in Subang Jaya) have eas close to Shah Alam, housing prices are Kota Kemuning 297 342 353 438 412 373 25.5 377 been escalating. For investors, high prices lower compared with areas close to Bandar Petaling Jaya 397 449 481 482 497 494 24.4 482 now do not help capital appreciation in the Sunway, thus, the homes here could be a short run, unless one could fi nd some proper- safe investment. However, she cautions Service apartment ties selling under market price,” she explains. that investments in this area should not be Nevertheless, for homebuyers looking expected to fetch high capital appreciation AREAS 2012 2013 2014 2015 2016 2017 6-YR (%)** 1H18 for own-stay, the convenience of the road in the medium term. Subang Jaya 391 500 559 593 586 585 49.6 592 network, public transportation and access “Whether buying non-landed or landed to amenities offered by Subang Jaya will properties, property buyers should compare Puchong 361 451 396 409 443 499 38 519 continue to make the place attractive. the prices of diff erent types of properties. Some *Shah Alam 232 379 449 515 561 555 139 541 However, traffic congestion poses the of the landed properties in USJ are selling at a Kota Kemuning NA NA NA NA NA NA NA NA biggest concern for homebuyers, unless they price equivalent to a condo. If that’s the case, are working within the neighbourhood or it’s better to look into the landed property as Petaling Jaya 734 797 730 699 682 702 -4 795 if their parents stay nearby. Others may be there could be many undiscovered gems * Including Saujana and Glenmarie ** Average capital appreciation from 2012 to 2017 deterred by the congested traffi c. during this market slowdown as some own- SOURCE: EDGEPROP.MY AND KNIGHT FRANK MALAYSIA Rental-wise, How says with the large stu- ers may be desperate to let go,” she advises. EP 10 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 11 EP 12 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY FEATURE MM2H to attract higher quality applicants

BY SHAWN NG

ixteen years since the 3,000 Total approved MM2H Top 7 participating countries CHINA Malaysia My Second participants by country 6,195 COUNTRY TOTAL (2002 — 2017) SHARE (%) Home (MM2H) pro- — 2,923 2,900 Total approved MM2H approved 1 China 11,386 29.2 gramme was estab- in 2017 lished in 2002, the participants per year 2 Japan 4,545 11.7 programme has at- 1,600 3 Bangladesh 3,944 10.1 tracted a total of 38,932 partici- S 4 UK 2,586 6.6 pants from as many as 130 coun- 1,500 4,000 5 1,929 5 tries as at end-2017. 3,675 Korea In 2017, the number of approvals 6 Singapore 1,403 3.6 recorded a spike with 6,195 appli- 1,400 7 Iran 1,376 3.5

cants approved for the programme, 3,347 a signifi cant jump from 3,347 ap- Others 11,763 30.2 1,300 3,227 provals the previous year. TOTAL 38,932 100

Th e jump in approved partic- 3,074 1,200 ipants last year can be attributed to the aggressive promotions of Comparison of the “second home” scheme the Malaysia My Second Home 1,100 3,000 in Malaysia, Thailand and Singapore

Agents Association (MM2HAA) 2,615 COUNTRY DETAILS OF EACH FINANCIAL REQUIREMENTS and the Ministry of Tourism, Arts 1,000 PROGRAMME and Culture Malaysia (MoTaC). 2,387 “We must continue the mo- Malaysia MM2H, which allows Applicants aged below 900 applicants to live in 50 years: Minimum mentum and not lose our poten- 2,211 tial participants to other countries Malaysia for up to 10 RM500,000 of liquid assets years on a multiple- and off shore income of which have developed similar 800 entry and renewable RM10,000 per month. 1,917 programmes,” says MoTaC deputy Social Visit Pass Applicants aged 50 secretary general (tourism) Datuk 700 1,729 2,000 and above: Minimum

Haslina Abdul Hamid. 1,645 RM350,000 of liquid assets While it is important to sustain 1,578 and off shore income of 1,512 1,503 its growth, Haslina also notes that 600 1,499 RM10,000 per month. it may be a good time to review Singapore The Global Investor Making a minimum some aspects of the programme, 500 Program (GIP), which contribution of SG$2.5 such as its fi nancial requirements allows applicants to million (RM7.61 million) so it could attract better quality ap- 400 apply for permanent under GIP. plicants to ensure that the Malaysian residence in Singapore

economy benefi ts. 818 with certain amount of 300 1,000 contribution Review needed Thailand The Thailand Elite A one-off fee payment “After 16 years of its implementa- 200 Residence Program, ranging from US$15,000 tion, the ministry is of the opin- which off ers applicants (RM62,365) for a fi ve- ion that there is a need to revise the right to live in the year residence visa to 100 the financial requirements as country for up to 20 US$60,000 (RM249,448) for well as other related fees such years along with access a 20-year residence visa. as visa and processing fees. We 0 0 to privileged services will also explore incentives that ‘02 ’03 ‘04 ’05 ‘06 ’07 ‘08 ’09 ‘10 ’11 ‘12 ’13 ‘14 ’15 ‘16 ’17 and VIP benefi ts could be offered to ensure partic- ipation in the programme contrib- utes more to our economy,” she tells “We want According to Haslina, another their respective home countries. EdgeProp.my. initiative to reduce the hassle of As for the eVISA, the online ap- Currently, the programme re- to shorten applying is the digitising of the visa plication platform will enable for- quires applicants aged below 50 the current and MM2H application process in eign nationals to apply for an elec- years old to show proof of liquid as- collaboration with the Immigration tronic visa to enter Malaysia at their sets worth a minimum of RM500,000 processing Department of Malaysia. convenience, she adds. and off shore income of RM10,000 time from [the “The MM2H Centre has also Th ere are also plans to estab- per month. looked at a few avenues and lish a taskforce to handle the rising For applicants aged 50 and current] 90 some are being discussed with the number of applications and to shift above, they will need to show proof working days. Immigration Department. One is some of the processes and tasks of RM350,000 in liquid assets and an appointment scheduling system, — such as renewal of the MM2H off shore income of RM10,000 per The ministry will which allows MM2H participants visa — to state immigration offi ces. month to be eligible under the pro- study and review and agents to select a date and time Meanwhile, the ministry has gramme. to visit the centre,” she off ers. been engaging with existing In order to make MM2H more and maybe Apart from that, the Immigration MM2H participants to address attractive to quality foreigners, replicate best Department is planning to roll out their issues, while ensuring agents MoTaC is also planning to improve the Electronic Visa Approval Letter that serve the applicants give out the application process. practices from (eVAL) and eVISA. the right information. “We want to shorten the cur- other countries Haslina explains that instead of “Word-of-mouth promotion is rent processing time from [the cur- a physical visa approval letter, eVAL the most powerful promotional rent] 90 working days. Th e ministry off ering similar will be issued as a soft copy through tool for the MM2H. When MM2H will study and review and maybe schemes.” the immigration system, making participants are happy staying in replicate best practices from other it easier for MM2H applicants to Malaysia, they will inform their countries off ering similar schemes,” — Haslina obtain an entry visa into Malaysia relatives and friends to join the

she says. MOTAC from the Malaysian Embassy in programme,” she concludes. FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 13 FEATURE Are you being poisoned in your own home?

BY TAN AI LENG

hat if your Formaldehyde emission levels Ways to reduce formaldehyde home is making you of composite wood products levels at home ill? There PRODUCT EMISSION are many LEVEL (PPM OF toxic sub- FORMALDEHYDE) stances we may not be aware of in 1. W Hardwood Plywood – Veneer Core 0.05 our homes that could cause health y issues, and among the scariest Hardwood Plywood – Composite Core 0.05 Check for formaldehydede safety labels when formaldehyde ones is formaldehyde. This col- Medium-Density Fibreboard 0.11 buying furniture or askk safety ourless substance is seemingly Thin Medium-Density Fibreboard 0.13 present almost everywhere. the vendor whether thee Some things that could contain Particleboard 0.09 product has been testedd fforor formaldehyde the naturally occurring organic SOURCE: UNITED STATES ENVIRONMENTAL PROTECTION AGENCY compound are: composite wood furniture, fertiliser, paper, plywood, IMAN ASADI antiseptic, medicines, clothes, per- formaldehyde can cause cancer in sonal skin care products, cosmetics rats. Furthermore, some research and even food! reports also revealed that formal- Formaldehyde can be present in dehyde may cause leukaemia in diff erent forms. As a gas, it is fl am- humans,” he elaborates. 2. mable and has a pungent smell at Improve indoor room temperature. It is also known Where does it come air ventilation as formalin, methanal or methyl- from? by opening up ene oxide. Th ere are a variety of indoor sources windows at home In September this year, BBC for formaldehyde emissions: ply- News reported that concerns had wood and pressed wood furniture, been raised over formaldehyde lev- gas appliances, glues and resins els following the death of a man who used in interior design, furniture in- 3. was staying in a rental apartment dustry and in building construction. in Hangzhou. The man had died Interior fi ttings like wallpaper Use an air purifi er, dehumidifi er of leukaemia in July, three months and fl oor materials (medium-den- or air-conditioner when room Is after moving into the apartment. sity fi breboard), some paints and humid and temperature is high His wife is suing Ziroom, the Asadi: Presence of formaldehyde in coatings as well as personal items house rental app that advertised indoor air is common, especially in such as nail polish also contain this the property, alleging that it made new homes and newly renovated harmful substance. him ill. He was told during a check- homes. “Generally, the presence of for- up in January that he was healthy. maldehyde in indoor air is com- His wife said he became ill after he building energy conservation. mon, especially in new homes and 4. moved to Hangzhou from Beijing in He notes that the primary way newly renovated or refurbished Wipe furniture with wet cloth April. Test results showed that the that people may be exposed to for- homes due to the existence of large (formaldehyde dissolves in water) formaldehyde levels in the apart- maldehyde is by inhaling it through amounts of plywood. Pressed wood ment were 0.132 milligrams per the air, or absorbing it in liquid form. emits a small amount of formalde- cubic metre - while the national When dissolved in water, it is hyde over time,” says Asadi. standard is 0.1. Other similar cases called formalin, which is an in- Even if formaldehyde is not used have occurred in China. dustrial disinfectant. It can also in the furniture or other items, this Easy steps like opening the win- the home or offi ce, there are some be used as a preservative in food, organic compound could also be dows at home, using an air purifi - DIY test kits available. Alternatively, Where is it present? medicines and personal skincare produced during the combustion er, dehumidifi er or air-condition- there is the formaldehyde or indoor University Malaya research products, such as antiseptics, lo- process involved in smoking, cook- er could help enhance indoor air air quality measurement badge scientist Iman Asadi tells tions and sunscreen, soaps and ing or car exhaust fumes. ventilation. which is used as a data collector - EdgeProp.my that many building cosmetics. However, one shouldn’t be too Besides furniture and products one could just place it within the materials contain formaldehyde: “Some people might experience paranoid over formaldehyde as it that contain formaldehyde, smok- home or offi ce for around 24 hours insulation materials, paper uncomfortable symptoms such as breaks down in the air and easily ing is also one of the main sources and send it to a lab for analysis. products, coatings, particleboard, a burning sensation in the eyes, dissolves in water – either way, it of formaldehyde production along He adds that some furniture glue and adhesives, permanent- throat and nose, wheezing, cough- won’t last long. with other toxic chemicals. Keeping manufacturers of composite wood press fabrics and others. ing, skin irritation and nausea. But “Nevertheless, humid and high your home smoke-free will help products will test the safety level of If formaldehyde is present in the tricky part is, at the same level indoor temperatures could increase reduce the formaldehyde levels at formaldehyde and label the prod- the air in high levels, it could harm of exposure, some people could the level of formaldehyde emission home, he says. uct as safe, allowing consumers to one’s skin, digestive, immune and be extremely sensitive to the for- and could cause one to be sick at Currently, there are no guide- choose such products. respiratory systems. maldehyde while others have no home or in the offi ce,” says Asadi. lines on formaldehyde in compos- “The government could also Levels of formaldehyde in the reaction to it,” he adds. He adds that the size of the furni- ite wood products in Malaysia, but consider amending the building air is measured in parts per mil- For this reason, most individu- ture also matters as research shows Asadi notes that the US Environ- codes, namely the Uniform Build- lion (ppm). als tend to ignore the existence of that the larger the furniture, the mental Protection Agency has a set ing By-Laws 1984, to include a “According to the United States formaldehyde in their indoor en- higher the level of formaldehyde of formaldehyde emission stand- parameter for formaldehyde ac- Environmental Protection Agen- vironments unless it has impacted it emits over time. ards for composite wood products ceptable limits in all buildings in cy, a safe environment contains their health. which could serve as a reference Malaysia,” he says. less than 0.1 ppm. Levels above 0.1 Asadi notes that the effect of Ways to get rid of it for consumers. For newly built homes, if one ppm may cause some people to feel formaldehyde on human health Asadi says the best way to elimi- According to Asadi, the level of fi nds oneself facing some symp- sick or weak,” says the mechanical is a controversial issue due to the nate or get rid of formaldehyde is formaldehyde in composite wood tomatic discomfort in the house, engineer with a vast amount of lack of information about its long by reducing furniture or products products can be measured on site even after cleaning the house and knowledge on the topics of built term health eff ects. made by materials that contain with advanced devices. improving its ventilation, it’s better environment, indoor environmen- “Th ere is some evidence based high levels of formaldehyde and For individuals who want to to get indoor air quality experts in tal quality, energy modelling and on laboratory tests that inhaled to enhance indoor air ventilation. measure levels of formaldehyde in for an assessment. EP 14 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY FEATURE

Urban planners look to Vienna to solve housing crises

PICTURES BY AFP BY SOPHIE MAKRIS Karl-Marx-Hof, a VIENNA, AUSTRIA: Vienna’s sump- community owned tuous imperial palaces may be the apartment building main draw for the many millions of in Vienna, Austria. tourists visiting every year. But for urban planning experts from all over the world, the Austrian capital’s more humble abodes are of greater interest as they search for solutions to the housing crises plaguing many of Europe’s cities. Wolfgang Mack, a 72-year-old pensioner, is a proud tenant of the city’s oldest social housing project in the 15th district, just 15 minutes from the historic centre. While social housing may bear some stigma in other countries, Mack’s estate boasts tidy green spaces and well-kept facades, as well as easy access to public trans- port and other amenities. And because Mack has been a tenant for several decades, his monthly rent amounts to just 300 euros (RM1,420) for a 90 sq m apartment — a bargain even by the standards of Vienna’s social housing. “I ask myself how people man- age to live in other big cities,” Mack says. In fact, the average rent in Vi- enna is just 9.6 euros per sq m, to the envy of other big European metropolises. According to a recent study by Deloitte, the equivalent fi gure stood at 13 euros per sq m in Prague, over 17 euros in Copenhagen and Barcelona, and an eye-watering 26 euros in Paris and London. Vienna’s extensive stock of so- cial housing is one of the reasons why it remains so aff ordable, says Karin Ramser, head of Wiener Woh- nen, the centrepiece of city’s public housing policy. “Th e fact that our market is not entirely in the hands of the private Wolfram Mack, 72, is a resident sector is generating more and more of one of the oldest community interest,” she says. owned apartment buildings in According to official figures, Raben-Hof, another community owned apartment building in Vienna, Austria. Schmelz, Vienna. around 60% of the city’s 1.8 mil- lion inhabitants live in a property The average rent in had positive eff ects, according to One point of controversy is that I peak of two million before 2030. owned either publicly or by hous- Yvonne Franz, researcher at Vienna rental contracts for subsidised In the private sector, rents rose ing associations. Vienna is just 9.6 University’s geography department. housing are awarded virtually for by 42% between 2008 and 2016, And in both cases the rent is euros per sq m. The “Lots of European cities have life, regardless of any changes in with land speculation “making capped, which experts say helps gradually sold off their housing the tenant’s status or income, and it more and more difficult, if not act as a brake on prices in the pri- equivalent fi gure stock because they see the upkeep can even be passed on to relatives. impossible, to build affordable vate sector too. stood at 13 euros per costs as a burden on the public Th e European Commission has housing”, says Karl Wurm from Mack’s estate — and his own purse, but Vienna has taken the criticised the system for distorting Austria’s federation of housing family story — refl ects the pioneer- sq m in Prague, over 17 opposite view,” she says. competition, but municipal author- associations. ing role Vienna played in the devel- euros in Copenhagen Wiener Wohnen owns around ities have stood fi rm, arguing that In late November, the city opment of social housing. 220,000 housing units — a quarter it preserves the city’s social mix. slapped tough conditions on ma- “My grandmother came to live in and Barcelona, and an of the city’s entire stock — mak- Mack says the residents on his jor new housing developments. this estate in 1923, I was born here eye-watering 26 euros ing it the biggest public landlord estate come from “very diff erent If developers want to receive and my daughter has just moved in in Paris and London. in Europe. backgrounds”. public subsidies, the rent for two- too,” he says. A further 200,000 units are Many tenants have only modest thirds of their new units cannot Th at is typical of generations of owned by associations who agree incomes but even the better-off exceed fi ve euros per sq m. particularly working class Viennese to cap rents in return for public residents “don’t want to leave be- The city authorities hope the who have benefi ted from the social pal governments built more than subsidies. cause life is so good here”, he says. measure will stimulate a new housing policies of successive left- 60,000 housing units, making Vien- Spending on housing and oth- Th at social mix may be harder to “housing revolution”. wing administrations since World na a showcase for the latest inno- er aspects of urban planning is fi - sustain in future as Vienna’s pop- But the right-wing opposition War I, earning the city the sobriquet vations in public housing. nanced by a nationwide tax paid ulation booms — 100,000 people condemned it as “dirigiste” and of “Red Vienna”. Th e left came back into power by all businesses and employees. have moved to the city in the past “retrograde socialism” which would Between 1923 and 1934, the after World War II and has ruled However, the Viennese model three years alone, and the popula- discourage private investment. city’s social-democratic munici- the city ever since. And that has is not without its problems. tion could pass the pre-World War — AFP FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY EP 15

Find your dream home from more than 250,000 listings at www.EdgeProp.my SPOTLIGHT

Commercial Residential Properties for sale and rent Agents, get your listings featured here FOR FREE! Email [email protected] or call 03-7721 8174/73

LIDM01030212 LIDM01034319 LIDM01028936 LIDM01018173

RM1,680,000 RM1,980,000 RM1,067,800 RM988,000 Mutiara Gombak Desa ParkCity Jalan Anggerik Eria, Mutiara Gombak, Gombak, Selangor (Southlake), Kuala Lumpur Kota Kemuning, Selangor Gombak, Selangor Type: Semidee Tenure: Freehold Type: Terraced House Tenure: Freehold Type: Terraced House Tenure: Freehold Type: Terraced house Tenure: Freehold Built-up: 3,340 sq ft Land size:ԝ3,200 sq ft Built-up: 2,159 sq ft Land size:ԝ1,875 sq ft Built-up: 2,200 sq ft Land size:ԝ4,133 sq ft Built-up: 2,000 sq ft Land size:ԝ1,400 sq ft Bedrooms: 5 Bathrooms: 5 Bedrooms: 3 Bathrooms: 4 Bedrooms: 4 Bathrooms: 3 Bedrooms: 4 Bathrooms: 3

Zull Arifˎ n (PEA1829) Sam Chai (REN 16483) Sherry Chew (REN 07011) Zull Arifˎ n (PEA1829) PROHARTA CONSULTANCY SDN BHD CORNERSTONE REALTY CBD PROPERTIES SDN BHD PROHARTA CONSULTANCY SDN BHD VE (1) 0233 E (3) 1198 E (1) 1197/4 VE (1) 0233 +6019 212 4461 +6012 280 5101 +6016 218 2301 +6019 212 4461

LIDM01018058 LIDM01043262 LIDM01046303 LIDM01038100

RM4,600,000 RM1,350,000 RM1,192,000 RM515,000 Dedaun, Ampang Hilir, The Rainz, Bukit Jalil, TTDI Ascencia, Taman Tun Villa Wangsamas, Kuala Lumpur Kuala Lumpur Dr Ismail, Kuala Lumpur Wangsa Maju, Kuala Lumpur Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Built-up: 4,327 sq ft Built-up: 1,772 sq ft Built-up: 1,393 sq ft Built-up: 1,270 sq ft Bedrooms: 3 Bathrooms: 4 Bedrooms: 5 Bathrooms: 4 Bedrooms: 3 Bathrooms: 3 Bedrooms: 3 Bathrooms: 2

Tiffany Tang (REN 09427) Weivein Chong (REN 27474) Ann Soh (REN 03232) Zull Arifˎ n (PEA1829) ONE WSM PROPERTY SDN BHD HARTAMAS REAL ESTATE (M) SDN BHD ONE SUNTERRA PROPERTIES PROHARTA CONSULTANCY SDN BHD E (1) 1823 E (1) 1439 SDN BHD E (1) 1629 VE (1) 0233 +6012 224 8866 +6016 916 5065 +6018 369 8650 +6019 212 4461

LIDM01041801 LIDM01038238 LIDM01044952 LIDN01405961

RM448,800 RM930,000 RM620,000 RMRM4,000/mth Razak City Residences, Desa ParkCity TTDI Ascencia, Taman Tun Royal Regent Sri Putramas III, Salak Selatan, Kuala Lumpur (The Westside III), Kuala Lumpur Dr Ismail, Kuala Lumpur Dutamas, Kuala Lumpur Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Built-up: 1,045 sq ft Built-up: 1,077 sq ft Built-up: 702 sq ft Built-up: 1,722 sq ft Bedrooms: 3 Bathrooms: 3 Bedrooms: 2 Bathrooms: 2 Bedrooms: studio Bathroom: 1 Bedrooms: 4 Bathrooms: 2

Terence Yap (REN 10998) Sam Chai (REN 16483) Ann Soh (REN 03232) Henry Lim (REN 06092) GS REALTY SDN BHD CORNERSTONE REALTY ONE SUNTERRA PROPERTIES RINA PROPERTIES ASIA SDN BHD E (1) 1307 E (3) 1198 SDN BHD E (1) 1629 E (1) 1607 +6012 232 9042 +6012 280 5101 +6018 369 8650 +6017 698 8618

LIDM01034704 LIDM01032631 LIDM01036327 LIDM01042995

RM3,600/mth RM6,500/mth RM5,200,000 RM45,942.50/mth Desa ParkCity Residensi 22, Mont Kiara, Taman Tun Dr Ismail, Plaza Equatorial, KL City, (The Westside III), Kuala Lumpur Kuala Lumpur Kuala Lumpur Kuala Lumpur Type: Condominium Tenure: Freehold Type: Condominium Tenure: Freehold Type: Shop Tenure: Freehold Type: Ofˎ ce Tenure: Freehold Built-up: 1,377 sq ft Built-up: 1,878 sq ft Built-up: 5,760 sq ft Land size:ԝ1,920 sq ft Built-up: 5,405 sq ft Bedrooms: 2 Bathrooms: 2 Bedrooms: 3 Bathrooms: 3

Sam Chai (REN 16483) Kelly Tan (PEA1960) Jacob Chin (REN 06912) Meifen Low (REN 06451) CORNERSTONE REALTY IQI REALTY SDN. BHD. BIG PLUS PROPERTIES (PJ) SDN BHD ONE WSM PROPERTY SDN BHD E (3) 1198 E (1) 1584 E (1) 1834/3 E (1) 1823 +6012 280 5101 +6012 266 0695 +6017 612 2331 +6012 653 0714 EP 16 FRIDAY DECEMBER 7, 2018 • THEEDGE FINANCIAL DAILY

Published by The Edge Property Sdn Bhd (1091814-P) Level 3, Menara KLK, No 1, Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia. Printed by Ultimate Print Sdn Bhd (62208-H) Lot 2, Jalan Sepana 15/3, Off Persiaran Selangor, Seksyen 15, 40200 Shah Alam, Selangor, Malaysia.