published every friday

Friday, december 11, 2020 . issue 3147/2020 . PP19055/06/2016(034530) DIGITAL

ep ep ep ep 15 06 feature05 feature07 property chat letters to the editor Inheritance Yes, laws A sanctuary tax akin to to curb where city-living Upscale high-rise punishing annoying intertwines living in a dream people’s neighbours with nature address savings needed How to avoid nightmare tenants? Tenants can make or break your real estate investment. How do you screen tenants? How to get rid of the rogue ones? Experienced realtors share their advice on Pages 8 to 11.

Stay updated on the latest news at www.EdgeProp.my EP 2 Friday december 11, 2020

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News highlights from www.EdgeProp.my

Malaysia unemployment rate expected to improve to 4.5% for December The Edge Property Sdn Bhd (1091814-P) Level 3, Menara KLK, No. 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia The Ministry of Human Resources has been declining since its peak to to 4.6%, or approximately 737,500 expects Malaysia’s unemployment 4.9% in June and 4.7% in July and unemployed, which he attributed to EdgeProp.my rate to continue trending downwards August, based on the Department of the various initiatives announced to 4.5% for December, from a peak of Statistics Malaysia (DOSM)’s labour under the government’s stimulus Managing Director/Editor-in-chief Au Foong Yee 5.3% in May due to job losses after survey. packages.

Editorial the enforcement of the Movement He added that the labour For the year up to Nov 27, a total Assistant Editor Tan Ai Leng Deputy Chief Copy Editor Control Order (MCO) starting March survey showed that those working of 120,296 people have regained James Chong 18 this year. Senior Writer in the aviation, hotel and tourism jobs, according to Social Security Rachel Chew Human Resources Minister M industries were most affected by the Organisation (Socso)’s data, said the Writers Natalie Khoo, Chelsey Poh Saravanan told the Dewan Rakyat on Covid-19 outbreak. minister, out of a total of 372,934 job Senior Designer Jun Kit Dec 9 that the unemployment rate In September, the figure improved seekers. For New Launches/Events/ Press Releases/News Tips email: [email protected] Tel: (03) 7721 8211 Fax: (03) 7721 8280 Although Beach Club reopened Advertising & Marketing Management of partially in June for dine-in and take- Senior Account Managers Ian Leong (012) 359 1668 car park liable for We’re on away, the modified business model Cecilia Too (012) 319 7666 negligence was not sustainable as the entertain- Marketing Support & Ad Traffic Telegram! Madeline Tan (03) 7721 8218 The Court of Appeal has upheld a lower ment outlet relied heavily on tourists. email: [email protected] court ruling that the management of a Hence, the company has been unable

Business Development car park was liable for negligence, FMT to stretch the losses since March. Manager News reported on Dec 8, 2020. Nimalen Parimalam (014) 324 3193 According to the report, the claim AGENCY SALES must be allowed as “a bailor-bailee Minister: RM172m Sales Manager relationship existed between Euro Rent Stannly Tan (012) 538 1687 A Car Sdn Bhd and Sunway Parking compensation paid “Other projects are still in negoti- Product Development Services Sdn Bhd”. for 17 cancelled ation. We managed to reduce about & Customer Advisory Click Associates The final appellate court also PR1MA projects 30% from the claims. For others, we Omar Nawawi (012) 537 1687 “agreed with the trial court” that de- The Housing and Local Government will no longer request allocation from Nazrin Hakimin (017) 368 6061 here fendant Sunway Parking “could not to join the Ministry has paid compensation the federal government to manage For enquiries and listings rely on the exemption clause to evade amounting to RM172 million for can- the debts and future financing. email: [email protected] liability”. “EdgeProp celled Perbadanan PR1MA Malaysia “We will use productive lands to Tel: (03) 7733 9000 To recap, a French citizen, Hemici Malaysia” news (PR1MA) projects and aims to fully build up new houses and cooperate EdgeProp.my e-Publication Sofiane, rented a vehicle from Euro channel on settle these debts by 2023. with the National Housing Depart- is published by The Edge Property Sdn Bhd. Rent in April, 2016. He then parked the Telegram to receive Minister Zuraida Kamaruddin said ment, Syarikat Perumahan Negara car at The Pinnacle Sunway at Ban- the compensations paid so far were Bhd and others as a cross-business Download it for free at daily alerts on dar Sunway in Petaling Jaya around for pre-development, labour costs, model to maximise what we have to cut www.EdgeProp.my 2.30pm and found the car missing property news! interest on delays and others for 17 of losses and bring back the money,” she about 7pm on the same day. the 32 cancelled projects. told the Dewan Rakyat on Dec 7, 2020. The Edge Malaysia Based on closed circuit television records, the car thief “tailgated” an- Publisher and Group CEO Ho Kay Tat other vehicle that was exiting the car park to get out as the barrier gate was Editorial too slow in coming down to prevent the After 70 years, no more Editor-in-chief Azam Aris stolen vehicle from escaping (without a catalogues from IKEA Corporate parking ticket). Chief Operating Officer The company taking legal action Furniture behemoth IKEA has decided to end Lim Shiew Yuin against the car park management the publication of its mega popular catalogue, Advertising & Marketing explained that “Sunway Parking was the company announced on Dec 7, 2020. Chief Commercial Officer negligent as it did not take steps to According to reports, the catalogue Sharon Teh (012) 313 9056 prevent the theft”. General Manager had been published since 1950 but it Fong Lai Kuan (012) 386 2831 was just in Swedish back then. Senior Sales Manager Gregory Thu (012) 376 0614 KL Beach Club “At its peak, the IKEA catalogue was said Head of Marketing closing down due to to have a greater circulation than that of Support & Ad Traffic Lorraine Chan (03) 7721 8001 financial constraints the Bible,” wrote the UK daily The Guardian. Opened for business for over 20 years Circulation reached a high in 2016 when and having been one of the most hap- about 200 million copies in 32 languages pening night-life spots in Kuala Lum- were distributed around the globe. pur, Beach Club Cafe at Jalan P Ramlee “It has been one of our best-known and has no choice but to close down due to best-loved products for 70 years, inspiring a prolonged shutdown forced by meas- billions of people around the world,” an IKEA ures in curbing the Covid-19 pandemic, manager, Konrad Grüss, said in a statement. FMT News reported on Dec 7, 2020 The group behind the entertain- ment outlet, Trend Matrix Enterprises Sdn Bhd, said the closure of its signa- How do I get past issues of this weekly e-Publication? ture outlet is indefinite. Go to www.EdgeProp.my to download for free! EP 4 Friday december 11, 2020

News highlightsNews from www.highlightsEdgeProp.my from www.EdgeProp.my

Ayer Holdings’ land gamuda Bukit 90% taken up

Bukit Hitam D evelo p ment Sdn B h d Bukit Hitam within one day of launch

Phase 1 of Gamuda four-bathroom layouts and built-ups from 2,508 sq ft with land area choices Land’s Blossom of 28ft by 65ft or 28ft by 70ft. Springs in “Given the overwhelming response sees 90% uptake for Phase 1, we are launching the bal- ance units of superlink villas in Blos- The first phase of ’s Blos- som Springs. We anticipate all units to som Springs in Jade Hills, has be fully sold in the next six months,” recognised 90% take-up rate to date. The said Jade Hills general manager Wee developer attributes the project’s success Pang Siang in a media release on Dec to its post-lockdown home design. 10, 2020. Blossom Springs is a 13.6-acre lux- The Phase 1 of Blossom Springs com- ury freehold landed project compris- prises 91 units, with an indicative selling ing superlink villas with four-bedroom, price starting from RM1.29 million.

Bukit Hitam Development Sdn Bhd’s terraced, cluster and semidee homes. Bromelia Phase 1 has achieved a take-up The terraced homes have built-ups way Visio, a corporate office tower with rate of 90% within a day of its launch. from 1,798 to 2,271 sq ft, while the cluster Sunway Velocity a net lettable area of approximately Bukit Hitam is the property division of homes and semidees are sized from and Sunway 200,000 sq ft, being the designated Ayer Holdings Bhd. 2,000 sq ft. Velocity TWO premises for the MSC status. Prior to launching, the project has In a press release on Dec 9, Ayer named first MSC The MSC Cybercentre status is seen most of its units taken up since it Group COO Jeannie Khoo (pictured) said awarded to cities, townships, or large Cybercentre in building complexes for providing ded- was introduced to the market this year. she believes there is continued interest in Cheras icated and specialised industry areas During its launch on Dec 8, 2020, the landed properties that have good access The Sunway Velocity and Sunway Ve- for MSC-status companies or Informa- company revealed that 90% out of the and quality design, and offer value for locity TWO developments by Sunway tion and Communications Technology 137 units were sold. money. Property have received the MSC Cy- (ICT)-facilitated businesses to locate The gated-and-guarded landed “The majority of our buyers purchased bercentre status from Malaysia Digital their operations. stratified development is located on a the units for self-occupation while a few Economy Corp (MDEC), making it the Commenting on the recognition, first Cybercentre in Cheras. Sunway Bhd’s property development 13.86-acre land in Bukit Puchong. With a of them intended them for investment In a media statement on Dec 7, 2020, division central region executive direc- gross development value of RM152 million, purposes. Notably, we had repeat buyers the company said the status is for the tor, Chong Sau Min said that Sunway Bromelia Phase 1 offers 2- and 2½-storey besides first-time homeowners,” she added. 30.42-acre area which encompasses Velocity is an ideal growth venue for both developments, with Menara Sun- ICT companies.

Screenshot taken from @NHSMidlands Number of daily positive cases Business must go on 2,234

The total number of infected cases in Malaysia is approaching1,075 80,000 cases, while global positive cases have accumulated close to 70 million cases, with a total death of 1.57 million. Despite the rising number of positive cases, the 1,123 government has decided to uplift the interstate Dec 5 Dec 10 travel restrictions, except for areas under enhanced movement control order (EMCO). Keenan after Meanwhile, the conditional MCO in Kuala Lumpur, receiving her Pfizer/ Sabah, most of Selangor, as well as some parts of HOTLINES BioNTech vaccine Johor, Negeri Sembilan, Kelantan and Perak, will be at a hospital in extended to Dec 20. Coventry. Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said the move was done after considering the current and expected impact on the economic UK starts mass Covid-19 vaccination recovery if CMCO is extended. For COVID-19 screening The UK started its mass vaccination programme against Covid-19 on “The country is expected to suffer a GDP loss of or tests, contact the Health Dec 8, 2020 making it the first “western” country to do so, say reports. RM300 million a day if CMCO is continued and this will Ministry’s Crisis Preparedness result in a decline in the labour market and household and Response Centre (CPRC) Calling it the “V-Day” and “Vaxit”, health workers began vaccinat- spending, investment uncertainty, permanent job loss, ing the general population with the vaccines developed by Pfizer and business closure and other effects either directly or Tel: 03-8881 0200, BioNTech. indirectly,” he said during a press conference on Dec 5, 03-8881 0600 According to a report by Reuters, Margaret Keenan, 90, was the 2020. and 03-8881 0700 The Ministry of Tourism, Arts and Culture (MOTAC) from 8.30am to 5pm daily first person in the world to take the vaccine outside of a trial when is also exploring the possibility of having travel bubble she received the injection at a hospital in Coventry, central England. arrangements within green-zone countries, for small Or Email: [email protected] “It’s the best early birthday present I could wish for because it group destinations or island tours, such as golf, diving, For more information, go to means I can finally look forward to spending time with my family and scuba, bird watching, hiking and caving activities. CPRC Telegram channel at While the move to allow inter-state and inter- https://t.me/cprckkm friends in the New Year after being on my own for most of the year,” district travel is inevitable, the Ministry of Health has For queries on the Restricted she was reported saying. reminded the public to adhere to the standard operating Movement Control Order, procedures when attending any type of gathering or call 03-8888 2010. while in public places. How do I get past issues of this weekly e-Publication? Go to www.EdgeProp.my to download for free! EP 5 Friday december 11, 2020

Hong Bee Land A sanctuary where city-living is launching 135 units of intertwines with nature Templer Residence Anggun City is part of a 150 acres commercial master plan, within the phase 1 in 2020.” 700-acre Anggun Rawang township, that will consist of established retail brands, an international school – ocated at the northwest Knewton International School, well- of Kuala Lumpur, known eateries and much more when Rawang is now one of the fully developed. HBL prospects this popular destinations for master plan to be the next potential homebuyers, especially hot spot for entertainment and leisure for those who are looking for spacious which will contribute as a catalyst for Llanded homes close to the KL city centre. enhancing the market and growth of Furthermore, the natural beauty of Anggun Rawang. Rawang also makes it an ideal place “Thus, our knowledge and to call home. Taking inspiration from commitment towards fulfilling market the rich history and lush surroundings, demands and aspirations is a long- HBL decides to take it a notch further term commitment. That is why HBL Above: The Richmond Collection double- with its beautifully crafted Templer storey terraced homes in Anggun Rawang. has invested heavily into developing Residence terraced homes. and promoting Anggun City as the Right: Residents will have access to an With a blend of contemporary English-themed linear park in the future. central commercial district for Rawang and classic British architecture, the New Town,” he says. Currently, the majestic Templer Residence is a township already has a wide array of 73-acre freehold development that means efficient and smart, flexible amenities in place, which includes comes with well-crafted landscaping. configurations. Hence, we decided AEON Anggun Rawang, McDonald’s It will be developed over five phases, to omit the family hall on the second Drive-Thru, Honda 3S centre (part complete with a verdant garden that floor as we found it is underutilised. of an upcoming auto hub centre), provides a comfortable and welcoming The extra space is channelled into the the upcoming Selgate Hospital and environment for the residents. walk-in wardrobe. more. Educational institutions include He adds that the walk-in wardrobes an international school within the Spacious living: can also be walled up and converted township as well as other national Size does matter into an office space, which is ideal and international schools within 5 Kicking off the development would during the ongoing Covid-19 pandemic to 10 minutes’ drive from the town be the Richmond Collection double- where working from home will be part centre. storey terraced homes. Built-up for of the new norm. “Getting a second wind from these units start from a spacious 2,200 “After all, a home is a long-term the urbanisation in Greater Kuala sq ft built on the land measuring 22 investment. Buyers will enjoy long- Lumpur, Rawang is a hidden gem in ft by 70 ft, priced from RM592,000. term savings from moving costs. It saves the KL North region given its strategic Not many homes especially in the them the hassle of searching for bigger connectivity, long standing economic congested Valley, are able to homes as the family grows,” he explains. resilience, wide variety of lifestyle provide space many yearn for. Taking these into consideration, offerings as well as its value for money A view of the “The bulit-up area of Richmond HBL has decided to provide spacious compared to other parts of Greater (2,200 sq ft and above) is considered spacious homes that are designed for interiors. Kuala Lumpur,” he says. larger than average in its category. We multigenerational living, best suited Coupled with the improved designed it this way to provide more for growing families at an affordable Kuala Lumpur once fully developed convenience to do your shopping or infrastructure and amenities, Rawang space for the family. Richmond comes starting price. and is envisioned as the new town errands nearby but secluded enough has emerged as one of the most sought- in four bedrooms configurations and centre of Rawang. to provide the children a space to run after destinations among businesses yet, still able to provide very spacious Self-sustaining It offers excellent connectivity to or cycle safely within a planned gated- and homebuyers. This is evident by the kitchens and living area,” enthuses modern township the Kuala Lumpur city centre, whilst guarded community,” offers Hwa Leong. population in Rawang which grew by Hong Bee Land Bhd (HBL) managing Bid farewell to the city noise and being surrounded by vast natural To top it off, residents will have a significant 200% over two decades,” director Gan Hwa Leong. air pollution as Templer Residence parks. Anggun Rawang is located access to an English-themed linear he emphasises. Compared with the average double- provides a much-needed respite away just 2km from the Rawang Toll exit park and club facilities when the 73- Residents will not miss out storey terrace linked houses with built- from the hustle and bustle city. on the New Expressway acre Templer Residence community on the conveniences and modern ups of 1,800 – 2,000 sq ft, homeowners Templer Residence is nestled at (NKVE) and a short 30-minute drive club is fully completed soon. touches of city-living. “Future value of Richmond may just realise that they the very core of a master-planned from Kuala Lumpur along the North- And HBL is in it for the long run. appreciation goes beyond Templer are getting more value for money with township – Anggun Rawang. The 700- South Expressway (NSE). “Phase 1 of Templer Residence is a Residence as HBL has a master plan regards to the additional built-up area. acre township will form an integral part It is also accessible via the part of a grand vision to provide a to develop Anggun Rawang into a “The modern layout also of the Northern Gateway of Greater new Guthrie, KL- quality living environment that is thriving, modern sub-urban city (Latar) expressways, Jalan Rawang/ affordable and come equipped with complete with more retail enclaves, Rawang Bypass and Duta- all the amenities of a modern township commercial precincts, hospitals, Expressway (Duke). that is Anggun,” says Hwa Leong. colleges, international schools and RAWANG HOSPITAL Opening Soon Coming Soon Coming Soon Coming Soon “Although we are not exactly located HBL will be launching 135 units of sustainable communities,” he says. in forest reserve which Templer Residence Phase 1 in 2020. Given the rosy outlook and is some 13km away, the choice of the escalating developments in Anggun name [Templer Residence] reflects our The new heart of Rawang Rawang, the value of Templer vision to provide a cooling, harmonious Spearheading the transformation Residence that sits within this and peaceful living environment for the of Rawang, developer Hong Bee township is further elevated in terms residents. The name also reflects on Land Bhd is the largest landowner of capital appreciation for homebuyers the colonial history and the British- with a vast land bank of 1,600 acres in and investors. inspired design elements of the homes Anggun Rawang, making it the “We believe that the value not only and the township of Anggun Rawang. most prominent developer in the vicinity. lies in the property itself but also in Anggun Rawang township has a wide array of amenities in place, “One that is surrounded by lush Its involvement in Rawang township the entire township planning where including an international school. greenery on high grounds, with development started since 2000. our residents call home,” he concludes. EP 6 Friday december 11, 2020 letter to the editor Yes, laws to curb annoying neighbours needed

eferring to a recent article published in EdgeProp.my by the legal adviser and the honorary secretary-general of the National House Buyers Association (HBA) on the need of having laws to deal with R“neighbours from hell”, I’m glad the HBA has spoken on this issue. I’m optimistic that if this issue garners more attention from the media any information in relation to any offence points our lawmakers should consider and especially lawmakers, we can committed anywhere in Malaysia. when passing a new legislation targeting subsequently put it to rest. This issue has The issue was resolved after a kind lawyer neighbour disputes. plagued our communities for as long as issued a notice of demand to the nuisance Notably, the HBA has also called for it shouldn’t have, especially those living creator and the unit owner, who would always the establishment of a tribunal to handle in high-rise buildings like myself. ask us to handle the matter on our own when neighbour disputes. Further to it or For instance, let me highlight the contacted. alternatively, it is my humble suggestion nuisance caused by a neighbour who that we may establish a process similar rents a unit right above mine. The noise to the small claims procedure to allow they make is not only in the daytime but Click to read Empowering the individuals to file neighbour disputes at even during midnight. more on HBA’s authorities to act court to be heard by magistrates and/or Once, the police found them chopping In Malaysia, there is no specific law on registrars who are empowered to grant up chicken feet on the floor at 1am, article – “A nuisance caused by neighbours but there injunctions. certainly not something anyone would clarion call for are provisions which could arguably make Although I am in support of passing new do! To illustrate, this sounded exactly a new law to this an offence. legislations for this purpose, I do wish to like an on-going renovation work. tackle neighbour Section 268 of the Penal Code provides for highlight that careful consideration and We tried to communicate with from hell” the offence of public nuisance, essentially procedures would have to be put in place, them amicably but were met with covering anyone affected in the vicinity. The such as on who and how to determine the much hostility. We then addressed issue with this provision is that oftentimes, existence of such nuisance as reported, to our complaints to the management other neighbours, although affected, are prevent any potential false claims or worse, corporation (MC), state assemblymen’s afraid to lodge police reports for fear of retaliation. (ADUN) office, city council and the police. retaliation and because they feel they are less I was consequently referred to a city affected compared to the immediate dwellers councillor who then liaised with the to the nuisance creator. Enforcement city council’s Commissioner of Building Section 13(1) of the Minor Offences Act It is very unfortunate that the civil justice (COB). COB stated that it was only 1955 (MOA 1955) states it is an offence to system is not easily accessible by the empowered to give verbal and written make excessive noise between 12am and general public mainly due to its high cost. warnings to the nuisance creator and 6am. Time and again, I have highlighted this Apart from civil action and until a instruct the MC to look into the matter. In provision to the police but they have opined new legislation as proposed by the HBA response, the MC said that they too could otherwise. is passed, based on existing legislations, only give verbal and written warnings. Although noise nuisance is not specifically those who suffer from nuisance created The police were initially reluctant provided for under the Local Government Act by “neighbours from hell” can lodge a to take a report on the matter as they 1976, Section 81(k) of the Act empowers the police report and ask for the matter to be deemed it to be a civil dispute. At that local authority to declare any matter to be a investigated under Section 13(1) MOA 1955. juncture, I felt the need to point out to nuisance. As it is a non-seizable offence, if the the police that its men and women in It is my humble opinion that if the investigation officer (IO) decides not to blue should understand that minor lawmakers do not pass a specific Act targeting investigate, he shall refer the complainant offences were still offences. nuisance created by neighbours, the local to the Magistrate, by virtue of Section Section 107(4) of the Criminal authority should at least make good use 108(1) CPC. Procedure Code (CPC) states that a police of this provision to declare such to be a If the IO classifies the case as NFA (no officer shall be duty-bound to receive nuisance. further action), one should insist on his or her right, but please do so politely. “Once, the police found them Everyone is afforded equal protection A new hope under the law, but even if there is adequate chopping up chicken feet on the Setting aside the differences in the legal protection, will there be adequate system of the United States and Malaysia, enforcement? floor at 1am, certainly not something we could look at how the City of Portland, anyone would do! To illustrate, this Oregon, curbs nuisance creators. Its local authority is authorised to issue Excerpts of a letter from sounded exactly like an on-going fines of up to US$5,000 (RM20,340) for each EdgeProp.my reader renovation work.” separate violation. This is one of the many Quah Wen Jun EP 7 Friday december 11, 2020

here is a general per- ception that high-rises are for people who can’t afford landed homes, with the latter being re- Tgarded as more spacious, more pri- vate and having bigger compounds either for gardening or extra car park space. This is a However, just like how working low-density from home in your pyjamas is no freehold resort-themed longer viewed as second-class to project with working in the office in a suit and only 290 units and these are tie, this impression is fast chang- housed in two ing, especially in highly-urbanised residential towers. cities like Kuala Lumpur. The fact that people have started to debate on which is better shows that vertical living is no longer the poor cousin of landed living. Contributing to the shifting per- ception is of course innovative con- cepts like the Setia Sky Seputeh, an S P Setia project with built-ups Upscale high-rise living that match, if not exceed single- or even double-storey houses. “It is common to think that con- dominiums are generally small of about 1,500 sq ft. It is rather difficult in a dream address to find those more than 2,000 sq ft, especially in and around the KL city centre area,” says S P Setia Divisional General Manager Paul Soh. “This is why we actually have two The vista of the nearby hill adds a to expatriates who are more like- However, Setia Sky Seputeh of- facilities podiums – Beach Podium sense of serenity against the city’s ly to purchase properties above fers units with spacious layouts that @ Level 7 and the Sky Rooftop hustle and bustle,” Paul elaborates, RM1 million. range from 2,303 sq ft to a gener- Podium @ Level 36,” adds Paul. adding that another advantage of “Its close proximity to the ameni- ous 3,025 sq ft. Malaysia’s longest man-made living in a high-rise is the presence ties in Mid Valley City complemented The units are aptly named Sky podium beach takes the centre of fewer insects. by the fine balance between urban- Suites (three unit types sized stage at the 1.5-acre Beach Podi- While most condos offer only ism and serenity makes Setia Sky 2,303 to 2,379 sq ft), Sky Bunga- um, along with other other creative two parking spaces for every unit, Seputeh an excellent choice for a lows (2,616 to 2,885 sq ft) and Sky comforts you can find in a resort Setia Sky Seputeh units come with home away from home,” he points out. Mansions (2,971 to 3,025 sq ft). such as a cocktail bar and virtual three or four car parks placed side Priced from RM2.2 million on- golf room. by side, not in tandem. wards, the project is expected to Walking distance to “The Sky Rooftop Podium is Equally noteworthy is that every be completed by 4Q2021. Mid Valley mega mall totally different, it offers Instag- owner will enjoy a 15-year subsidy “Setia Sky Seputeh is one of S Setia Sky Seputeh has an address am-worthy spots, entertainment on maintenance fees! P Setia’s projects that offers the that is a dream for many. It sits on “It is common to think lounges, gourmet dining facility, sky Setia 10:90 scheme. This means 4.4 acres of prime freehold land in that condominiums gym, heated aqua gym and more,” Urbanism and serenity buyers pay a 10% down payment Taman Seputeh, next to the pop- are generally small he highlights. in fine balance and nothing else until the project is ular Mid Valley City in the heart of of about 1,500 sq ft. The wide range of facilities also Who should consider Setia Sky completed. Thus, homebuyers can Kuala Lumpur. include an infinity salt water pool, Seputeh? buy some time in preparing their Taman Seputeh is served by nu- It is rather difficult to moonlight Jacuzzi, music room, Paul sees them in those looking cash flow and save bank interest,” merous major highways such as find those more than shipwreck-themed playground, at upgrading to a more discerning Paul concludes. the Federal Highway, the New Pan- 2,000 sq ft, especially trampoline garden, fitness Gym- and comfortable lifestyle. tai Expressway, the KL-Seremban in and around the boree, meditation garden, and male “Besides that, it is definitely a Highway and the SPRINT Highway. and female hot and cold spas. good choice for parents buying This puts Setia Sky Seputeh just Kuala Lumpur city “Here at Setia Sky Seputeh, we for their children who value luxury 7km to the KL city centre, 1km to centre (KLCC) area.” also offer panoramic views of the and privacy. Setia Sky Seputeh will Mid Valley City and 3km to KL Sen- — Paul city and forest. Imagine the view also appeal very strongly to retirees Please click here tral. In fact, Mid Valley is just about of the city coming to life at night wishing to enjoy the luxury of resort for more information or call a 500m walk away. How about that with city lights and skyscrapers life in their silver years,” Paul says. +603 2276 5252 for convenience! Management, CCTV Surveillance, dotting the Taman Seputeh skyline. The development also caters The low-density freehold re- Perimeter Intrusion Detection Sys- sort-themed project with only 290 tem, and Video Intercom System units are housed in two residential is installed to closely monitor the towers. Each of the two towers is surroundings for the residents’ ut- 37 storeys high. There are only four most safety, Paul explains. to six units on each floor, with each “Besides enhanced security, unit enjoying the exclusivity of a high-rise living offers ample facili- private lift lobby. ties aimed at fostering healthy life- styles. [Even] some landed housing Optimum security projects may have clubhouses but and lifestyle with limited facilities. For S P Setia, safety is paramount “What sets us apart from other and it remains the top priority in all high-rise or landed properties is its developments, stresses Paul. our provision of facilities. The idea In Setia Sky Seputeh, the secu- is simple; to provide residents with rity system comprising Vehicle Bar- an array of facilities that comes with rier Access, Access Control, Visitor 5-star quality and finesse. Setia Sky Seputeh offers units with spacious layouts that range from 2,303 sq ft to a dream 3,025 sq ft. EP 8 Friday december 11, 2020 cover story

Realtors can play a role in protecting landlords By Chelsey Poh

A good tenant is a blessing to most landlords, who have spent a great deal of money to buy the property, and perhaps a certain amount of investment in renovation and furnishing. The last thing landlords want to see are rogue tenants that ruin their investments and cause them endless nightmares.

Bad tenants include (but are not limited to) those who default on rental payment, overstay, do not take good care of the properties, disrespect the neighbours and misuse the property for illegal businesses. Missed the Fireside How to avoid nightmarish tenants? Is it even possible to identify them beforehand? In the unfortunate Chat? event of having bad tenants in the house, what can landlords do? VIEW IT HERE!

Low Yen Yeing | EdgeProp.my Virtual Fireside Chat hese are some of the topics “The landlord was very happy discussed at EdgeProp.my’s Red flags for as the father had a decent job as a virtual Fireside Chat enti- nasty tenants contractor, and the mother cared so How to avoid tled “How to avoid tenants As much as we’d like to have the much for cleanliness. But the fam- from hell” held on Decem- perfect solution to keeping bad ten- ily turned out to be one of the ‘bad TENANTS ber 7, 2020. Three experi- ants away, the unlovely reality is tenants’ who delayed on rental pay- from HELL enced property negotiators and agents that there is no foolproof method ments and gave all kinds of excuses Tshed light on the often overlooked “red to filtering out bad tenants. for the delay,” she said. flags” of potentially bad tenants, as well Reapfield Properties (SJ) Sdn Hence diligent checks are im- Go to www.EdgeProp.my for as how to resolve the problems. Bhd senior real estate negotiator portant when screening potential more reports on the Fireside Chat Hosted by EdgeProp.my edi- Carmen Lee shared her own ex- tenants. In this, mindful realtors tor-in-chief and managing director Au perience of coming across a seem- could use their years of experience Presented by: Supported by: Foong Yee, the Facebook live session is ingly wealthy family who wanted to help landlords. supported by Nippon Paint Malaysia. to rent a house. CONTINUES NEXT PAGE → EP 9 Friday december 11, 2020 cover story How to avoid TENANTS Virtual Fireside Chat from HELL VIEW IT Presented by: Supported by: HERE!

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What are the often Ways to identify overlooked signs bad apples Although there is no way to guar- of potentially bad antee a 100% avoidance of rogue tenants? tenants, thorough screening can at least help to identify some traps. 1. Only pay by cash The realtors emphasised the im- According to his own experience, portance of careful checking, and Reapfield Properties (Puchong) shared various means of investigat- Sdn Bhd probationary estate agent ing the tenants. Roslan Shapri pointed out that those Lee suggested that when possible, who only pay cash could potentially search for the name of the potential turn into bad tenants, as their mon- tenant on the internet or in social ey could possibly come from illegal media. “While we cannot judge a means. book based by its cover, at least it “Pure cash payment is definitely a gives us an indication of what the red flag,” warned Roslan. person is like,” she said. He had encountered five broth- She also shared an example of a ers, all with Datukship titles, who landlord asking the tenant to pres- wanted to rent a house in Daman- ent his CTOS (Credit Tip-off Service) sara Heights. However, the deal did report in exchange for a rental de- not go through as the tenants insist- duction. ed on paying the rental and deposit “Although it is not a common by cash, which added up to quite a practice in Malaysia, one of my cli- large amount. ents had asked for the tenant’s CTOS “A year after that, the news report- report in exchange for lower rental. ed that these people were actually This can lead to a win-win situation, money launderers,” he recounted. as the landlord gets an assurance on the credibility of the tenant, while the tenant gets cheaper rent,” she elab- 2. Desperate tenants orated. Landlords might be delighted upon Perera, whose clients are mostly securing a tenant within a short time expatriates and multinational com- span, but Reapfield Properties (HQ) panies, said that she would check the Intense Sdn Bhd senior real estate negotiator expatriate tenants’ company letters Joyce Perera reminded landlords to to verify their employments, and ask beware of those who make decision when their working permits and visas too fast after only a brief visit to the will expire. competition property, or request to move in im- When the tenant is a company, mediately. she would request for full docu- “This is actually a warning sign, as mentations such as the Companies there might be some issues on their Commission of Malaysia (SSM) — how to win previous tenancy,” she said, adding form that shows what kind of busi- that it is important to know the rea- ness the tenant runs. “A realtor needs sons behind the hasty move. CONTINUES NEXT PAGE → tenants

here is no one-size-fits-all places like kindergartens. “Those who only answer on whether or not you Reapfield Properties (HQ) Sdn Bhd should renovate your house. senior real estate negotiator Joyce pay cash could Reapfield Properties (SJ) Sdn Perera believed that renovation and TBhd senior real estate negotiator full furnishing could be considered potentially Carmen Lee opined that the mindset for smaller units, as potential tenants turn into bad of landlords should be to beat their for this segment usually prefer competitors, instead of renovating for ready-to-move-in units. tenants, as their the purpose of renovating. Meanwhile, the larger units would “I would suggest only providing do better without too much furniture money could basic fittings such as kitchen and fittings, she added. possibly come cabinets. The work would be wasted She added that considering that if the [extensive] renovation and there might be wear and tear in the from illegal furnishing do not make your unit unit and furniture, it is best to not put stand out from others,” she said your most expensive sofa in the unit means.” during EdgeProp.my’s virtual Fireside to be rented out. — Roslan Chat entitled “How to avoid tenants Reapfield Properties (Puchong) from hell”, held on December 7, 2020. Sdn Bhd probationary estate agent Other than furniture or interior Roslan Shapri said that while fittings, a simple way to give a fresh furnished single-bedroom units and look to the unit is to apply a new penthouses might attract tenants, for coating for the property. Lee added landed, it is best to leave the option that choosing a good paint with to tenants. special features such as antiviral “Furthermore, it also depends paint could also help to attract on which type of tenants you are tenants. targeting and which area the house She believes that houses with is in. For example, you could hardly antiviral walls would be especially find someone who wants to rent a

Reapfield appealing to households with older fully-furnished unit in ,” he persons or young kids, as well as highlighted. EP 10 Friday december 11, 2020 cover story How to avoid TENANTS Virtual Fireside Chat from HELL VIEW IT Presented by: Supported by: HERE!

← from previous PAGE Reapfield to do sufficient homework. I will pay a visit to the professional and willing to help would be a great companies to make sure their businesses are really “When relief to landlords. in operation,” she said. possible, All three realtors at the Fireside Chat have been She added that sometimes, a simple search helping their clients in various instances through- could also reveal the truth. “There was a time search for out the tenancy terms. when I searched on Google map for the home Lee usually pays closer attention in the first address of a ‘multinational company’ director the name of three months after the signing of the tenancy and found that he lived in a low-cost flat. This is the potential agreement, to check whether things go smoothly something we need to alert the landlord about,” and whether or not the tenants pay rents on time. she stressed. tenant on Roslan noted that it is necessary for agents to In some countries, such as the US and the UK, manage the expectations of both landlords and there is a mechanism called tenant registry (or the internet tenants, and brief them about terms of the agree- simply the registry) used as a risk management or in social ment. This is to ensure that both parties are on tool for landlords to screen potential tenants. the same page. At present, there is no similar database avail- media to “By doing this, half of the problems can be pre- able in Malaysia. Perera said having a database get to know vented,” he said. is a good idea, but it is not easy to establish one. There are landlords who engage realtors, like Roslan concurred that there is a need for such more about Perera, to help manage their tenants. “I (even) a system, but its purpose should be to serve as a pay the contractors upfront in order to ensure deterrent to trouble-making tenants, instead of a him or her.” speedy delivery of their services. When tenants blacklist to penalise anyone. — Lee are happy, they tend to extend the rental lease,” she said. Perera suggested that landlords and tenants could ask about after-sales services be- Handling rogue renters fore picking a realtor. If unfortunately a bad tenant is already in the Roslan concurred and added that realtors have house, what should a landlord do to halt the losses? to understand that their relationships with the There are several legal actions that can be tak- landlords and tenants are long-term ones. en against tenants who default in rental payments “However, whether or not to answer the call de- or overstay (see next page). However, as the legal ment’s help to monitor his or her movements, in pends on each realtor. As it is not compulsory for a process is costly and time-consuming, it should case the tenant moves out without you noticing,” realtor to always be there to assist, clients should be the last resort after all other means to recover she cautioned. ask the realtor whether he or she is prepared to the property are exhausted. Roslan also underlined the importance of spell- do this,” he said. In tenancy agreements, the default of rents ing out clear terms within the tenancy agreement. Reapfield should not be more than two months, or the land- When disputes arise between landlords and ten- “The lord can issue the eviction notice and have the ants, the tenancy agreement would become an authority to enter the premises if the tenant is important reference. landlords uncooperative. “However, we would first try other means to and tenants collect the rent or have the tenants move out, be- Opting for added services could ask fore taking more severe actions to evict the ten- In Malaysia, most landlords and tenants would ex- ants,” said Roslan. pect “after-sales services” from realtors. However, whether He stressed that it is important to find out the as Roslan pointed out, it is not the realtors’ obliga- or not the cause for the delay in rental payment, especially tion to stay in the picture after the deal is sealed. now when the Covid-19 pandemic has caused In the rental market, the role of a realtor is realtor is many to suffer income losses, and try to find solu- to match landlords with tenants. Nevertheless, tions that work for both landlord and tenant. many realtors have taken the extra mile to assist willing to Before taking legal actions, Perera suggested landlords and tenants with issues that arise after provide landlords should ask for help from the building’s signing the tenancy agreements. management such as barring the tenant’s access Indeed, realtors play a vital role in offering a after-sales card. helping hand to inexperienced landlords and ten- services.” “If a tenant defaults on rental, you could send ants. As there is no foolproof method in filtering reminders and also try to ask for the manage- out bad tenants, engaging with a realtor who is — Perera EP 11 Friday december 11, 2020 cover story How to avoid TENANTS Virtual Fireside Chat from HELL VIEW IT Presented by: Supported by: HERE!

How to deal with Legal remedies uncooperative tenants? If the tenant cannot be contacted or is unwilling to open in dealing with the door, the landlord could lodge a police report. To prevent a lawsuit from the tenant, the landlord needs to break the door locks in the presence of a police officer and an independent witness. bad tenants “A prudent landlord would take as many as possible photos of the interior of the demised premises to ensure By Chelsey Poh that the tenant could not later claim for loss of proper- ties,” Tan shares. He also advises landlords to place a notice on the front What can you do in the unfortunate event of a tenant defaulting door to inform the tenant that he or she should contact on rents or overstaying after termination of the rental term? Chur the landlord within one or two weeks’ time if he or she wants to take back his or her assets in the house. Associates founder and managing partner Chris Tan offers some In addition to these, it is advisable to place a photo- legal advice to landlords. copy of the filed police report along with the notice, to indicate the entrance into the premises is legal. Nevertheless, Tan notes that breaking into a house is merely a current practice, and the action is not recog- Eviction notice nised by law as a “legal remedy”, which means there is a Based on the tenancy contract, an eviction Distress action certain legal risk to it. Hence, it is best to go to a lawyer notice can be issued if the tenant defaults The landlord may also apply to the court first before acting. multiple times in paying rent or overstays for the issuance of a warrant of distress the tenancy term. for the recovery of the overdue rents by 1A certain grace period needs to be given to the 3seizing the tenant’s goods and selling them to recover tenant to vacate the property and pay all overdue the outstanding rental. “It is noteworthy rents. The notice has to be signed by the tenant as an Tan notes that in general, it would also take three evidence that he or she is aware of the notice. to six months to get the distress order, or even longer that the tenancy According to Tan, the legal fees to issue such no- during the CMCO period. tices are about RM500 to RM1,000. He reminds landlords that this action does not al- agreement plays low them to recover the possession of the premises, but rather to reclaim the outstanding rents by selling a vital role in the tenant’s assets at a public auction. This means Eviction order that even with the distress order, the tenancy taking legal If the tenant remains in the premises after may still continue. actions against the expiry of the period stated in the evic- Tan stresses that it is not advisable for tion notice, the landlord needs to obtain landlords to take illegal “self-help meas- rent-defaulting 2an eviction order from the court before he or she can ures” as these actions may result in the repossess the property from the tenant. landlord being sued by the tenant for dam- or overstay- The eviction order will allow the landlord to claim ages caused to the tenant’s belongings. for outstanding rental, double rental (from the dates Common “self-help measures” that ing tenants.” of the expiry of the eviction notice until delivery of landlords take include changing pad- — Tan vacant possession to the landlord) and recovery of locks, disconnecting water and electricity the property’s vacant possession. supplies and entering the premises by “The eviction order can take three to six months force on their own. to process at the Session Court, and the period might It is noteworthy that the tenancy drag even longer due to the conditional movement agreement plays a vital role in taking order (CMCO),” Tan explains. legal actions against rent-defaulting or He adds that the legal cost of the proceeding is overstaying tenants. around RM8,000 to RM10,000 if the summon is not “Generally, the legal remedies are sim- contested. If contested, the cost could be somewhere ilar in residential and commercial proper- around RM10,000 to RM25,000. ties,” Tan adds. Low Yen Yeing | EdgeProp.my EP 1210 FridayFriday september december 18,11, 20202020 EP 13 Friday december 11, 2020 foreign feature

By Audrey Simon / EdgeProp Singapore | Haven t is a habit that when we travel, we usually Soul of a home end up buying souvenirs. Whether cheap or pricey, we collect them as a memento of the places we visit. Most of us will buy the obligatory fridge magnet, a trinket to hang on the wall or a little token to be placed on the desk — small, light and items — Industrial Chic Ieasy to carry. Not for Terry Smagh and his wife though. They pictures by Albert Chua / The Edge Singapore have hand-carried light fixtures, old weighing scales and even oar. They have also shipped back many side tables, dining tables and even a boat; which is now repurposed to become the base for their dining table. Smagh unabashedly tells Haven he is known to walk into stores or cafes in Sweden, India, Australia or New Zealand and ask if an item he fancies is up for sale. But he is far from compulsive, he and his wife of 13 years know exactly where an item goes and whether it fits with the look and feel of their house in the Eastern part of Singapore. Home, which he shares with his wife, primary- school son, mother-in-law and an adorable chocolate Labrador, has an industrial vibe to it. It is filled with concrete and steel, yet it exudes warmth. Smagh even ripped out the expensive Clinker tiles from Germany that covered the entire house and replaced it with concrete. The couple bought the 2,300 sq ft home with a built-up area of 5,500 sq ft in 2015 and made some changes to the interior and basically left the curvy structure of the house that was designed by award-winning architect, Ling Hao. Smagh was attracted to the avant-garde feel of the house and at the same time, he saw so much potential in terms of decorating the house. Prior to the rebuild by the architect, this house was known as House with Two Mango Trees. Top: The house feels like other weekends, I spend it on entertaining at adding light. As the sun was about to set, it cast Smagh points out that each huge mango tree it has been carved to home. With the border closures, I got to really a lovely orange sunlight throughout the house. was located at the front and at the end of the form a circular design live in this house. I hunkered down and did a Thanks to the airwell, the house is well-ventilated house. Unfortunately due to rotting and disease, with an airwell that goes lot more to this house,” he explains. and felt cool on a warm October evening. the trees had to be removed. But Smagh kept a all the way up to the top As we enter the house, two vintage Porsches On reaching towards the back of the house, coconut tree and he even built a curved wall to floor, adding light. sit on the front porch. There is no living room. a circular bar made of concrete greets us. This accommodate the tree. Instead, there is an area for guests waiting for a is Smagh’s favourite place in the house as this is Smagh who is the senior vice-president of Asia Above: The open rooftop taxi or a ride home. On the other side is another where he holds court mixing drinks and regaling Pacific and Japan at BlackLine, had more of such where barbeque parties area with a sideboard made of tamarind and his friends with stories of his travels, home and home nuggets for us as he takes us through his are held lychee wood from Sulawesi. family. Indeed, the many storage spaces at the home, which he now says he can enjoy. When you look up, the house feels like it has bar house his extensive collection of whiskeys “Last year, I counted that I was away for 200 been carved to form a circular design with an from Scotland to Taiwan. days when I’m back on the weekends or every airwell that goes all the way up to the top floor, CONTINUES NEXT PAGE → EP 14 Friday december 11, 2020 foreign feature

“This beautiful concrete and steel home has its living spaces filled with décor the owners collected from their travels around the world.”

← from previous PAGE Moving further to the back is the dining room with his boat dining table (it even has a pair of oars inside). To hold the glass top, his contractor had to build a solid steel frame. The table comfortably seats 12 for a proper sit-down dinner. Beyond that are the wet and dry kitchens. Smagh, however, reveals that he is already planning to do more renovations to the kitchen. Up the steel stairs reveal a huge living room that is outfitted with designer Scandinavian furniture. He points to the lights he had bought from an actual ship. With some modifications, they fit nicely, with wires exposed to keep with the industrial theme of the house. The living room leads to a spacious balcony which Smagh says is his father’s favourite spot. Who can blame the old man? pictures by Albert Chua / The Edge Singapore Sitting on a comfy outdoor sofa with a drink in hand, watching Above: Terry Smagh the sunset and the goings-on on the street below. loves to entertain at the The house has 3½ storeys and this comes in the form of a circular bar. mezzanine level between the second and third floor that looks suspended in mid-air. The level is designed to look as if it is Right: The master floating in mid-air and the space that has two bedrooms — for bedroom. his mother-in-law and son. Above that is the master bedroom that has an outdoor feel Below: The second-floor as the airwell features wall plants. When the rain beats down, balcony to have a drink and watch the sunset.

the bedroom gives off a tropical vibe although you are given the privacy you need when you shut the door, A self-taught cook, Smagh loves the top floor that functions as a barbecue area, laundry room, gaming room and a quiet area to share a drink with his wife. Smagh says he has had many parties here and he will comb Tekka market to hunt down the freshest ingredients, with the same exact determination he shows when he hunts down décor items for the house. Like all the other rooms, this room has a lot to take in. There is a basin with a tap that is fashioned out of an old petrol pump; a gift from his mechanic. Every corner stands a piece of décor that begs to tell a story. The only thing that is missing and for good reason too are paintings. That is because it is very difficult to find a spot on a curved wall to hang a painting. Another reason offered by his wife is that paintings are the only thing they seem to have a difference of opinion. Perhaps, when the borders reopen and this couple restarts their holiday adventures, they will be able to pick up more souvenirs and, this time, maybe find a painting or two. EP 15 Friday december 11, 2020 property chat Inheritance tax akin to punishing people’s savings

By datuk Chang Kim Loong

he issue of inheritance tax has resurfaced again as one the proposals to enhance the Gov- ernment’s revenue. However, Why we say it may not be fair to property buyers who have worked hard ‘taxing a second and saved their money for the next gener- time’ is these Tations. The largest component of wealth or estate of the average rakyat is in the form people are just of properties. As there are no details yet on the proposed using their inheritance tax, we assume it will capture all classes of assets to be bequeathed to surplus savings beneficiaries including properties. For the which were purpose of this write-up, we will focus our arguments against the tax by using property derived from as an example. However, our arguments are also applicable for other classes of assets. incomes that had already A tax on inflation been subject to Over the long run, property prices are ex- pected to increase due to factors such as income tax.” inflation, increased demand for properties and scarcity of new properties as land is a limited resource. Hence, investing in properties is deemed one of the ways to hedge against inflation as ed to be RM380,000 and he had left a will for Now consider the impact inflation the appreciation in property prices is said to the property to be bequeathed to his wife. has on property prices (Table 1). Table 1 — Property price be higher compared to the increase in the While it may seem very impressive that We do not have the inflation rate based on estimated official inflation rate. the said property has increased in value 18 of Malaysia from 1977 until 2020 but By imposing an inheritance tax on prop- times from RM20,000, we must remember for argument’s sake, we will use a pru- inflation rates erties, the Government is effectively impos- that this increase of RM360,000 was over a dent rate of 3.5%. By compounding ing a tax on the inflation suffered by the span of 43 years. this 3.5% rate annually for 43 years, house buyer. We have worked out that the compounded the minimum value of the property Consider the following example of one annual increase for this property from 1977 from RM20,000 in 1977 would have Purchase price in 1977: RM20,000 who bought a property in 1977 for about to 2020 is 7.09%. However, a large factor for increased to RM87,794 in 2020. RM20,000 (Diagram 1). He subsequently this increase is due to inflation and when But is this official inflation rate of Estimated value in 2020: RM380,000 got married and stayed in the same property we talk about inflation, there is always the 3.5% an accurate representation of Estimated profit after deducting until his demise in 2020. At the time of his “official inflation rate” and the “real infla- what is actually experienced by the acquisition price: RM360,000 demise, the value of the property is estimat- tion rate”. rakyat? Ask anyone and they will tell you that there is no way that the real inflation rate is only 3.5% per year. Scenario 1 diagram 1 — Scenario of housing Most people would say a range from at least 5% to 6%, and we will use 5.50% – calculation based on official inflation price appreciation over the years as a mid-point. rate: average 3.5% Now, by compounding an annual real inflation rate of 5.50% from 1977 Estimated value over the years: Acquisition until 2020, the minimum price of the RM87,794 price in 1977 property should have increased from RM20,000 Current RM20,000 in 1977 to RM199,934 in property value: 2020. Hence, the net increase in prop- Scenario 2 RM380,000 erty price after adjusting for this real – calculation based on real inflation inflation rate has been reduced from rate: average 5.5% Increase in RM360,000 to only RM160,066 and property price: 18 the real inflation rate accounted for Estimated value over the years: times about 55.5% of the increase in the RM199,934 RM360,000 property price. Increase in property If there were to be an inheritance Increase in property price after price over original adjusting for real inflation rate: acquisition price tax, it is expected to be imposed on the estimated current market value of RM160,066 the estate. Thus, the beneficiaries of Percentage of increase in property such properties are effectively paying a price due to real inflation rate: tax on the inflation rate suffered since Compounded annual increase 55.54% in property price: 7.09% acquiring the said property. CONTINUES NEXT PAGE → EP 16 Friday december 11, 2020 property chat

← from previous PAGE that we earn as we will be taxed again when Taxed even if no we die for any assets that we have accumulat- Table 2 — A list of countries with economic gain realised ed from our years of blood, sweat and tears. The proposal for the implementation of the inheritance tax and their respective inheritance tax is expected to be imposed Gini coefficient ratios upon the transfer of legal ownership of assets No guarantee it will of the deceased to the beneficiaries. However, reduce economic Country Inheritance Gini coefficient in many instances, the beneficiaries may be tax rate ratio still residing in the bequeathed properties inequality gap without realising any economic gain from The main rationale for the support of in- France (2017) 45% 0.292 perhaps the disposal of the properties. heritance tax is that such a tax can help Germany (2017) 30% 0.289 Using our example above, the wife would to improve the economic inequality gap in have to pay an inheritance tax in order to Malaysia. However, there is no guarantee that Netherlands (2016) 20% 0.285 inherit the property of her late husband. If such an economic inequality gap can be re- she were unable to, the property would be duced just by introducing an inheritance tax. South Korea (2017) 50% 0.355 seized by the Government and she would Income inequality is typically measured United States (2017) 40% 0.390 end up homeless. by using an economic model called the “Gini coefficient ratio”. A value of 0 means perfect UK (2018) 40% 0.366 income equality where everyone has the Canada (2017) 0% 0.310 A double taxation same wealth and a value of 1 means perfect punishing years of inequality where all the wealth is held by Malaysia (2019) 0% 0.407 one person and everyone else holds none. Source: Global Gini coefficient, Tax Foundation and OECD hard work As we can see from Table 2 (right), the It is the aspiration of every individual to Gini coefficient ratios of countries with in- improve his or her economic condition heritance tax vary by quite a big margin, There are many factors that have caused has a better start in life. Imposing an in- through saving and investing. To provide with Germany’s inheritance tax rate of 30% this economic inequality gap in any country heritance tax is akin to punishing those a better start for their children, parents having lower Gini coefficient ratio of 0.289 including Malaysia, such as lack of educa- who have managed to succeed. This will would spend prudently and use the sur- versus countries with higher inheritance tional opportunities and loss of jobs due to only demoralise the future generations plus savings from their income after paying tax rates such as France with 45% but with globalisation and industrialisation. However, and will reduce their motivation to further taxes and other living expenses to invest a Gini score of 0.292. inheritance tax is definitely not the “magic succeed in life. in assets (including properties) that could On the other hand, Canada, which does bullet” to solve this issue. As a developing country with the vision yield returns in the future. not have any inheritance tax, has a relatively to one day join the ranks of fully developed By imposing an inheritance tax on all the low Gini score of 0.310. nations, Malaysia must reward its citizens assets to be bequeathed to their beneficiar- This would imply that inheritance tax Punishment for who can improve their own economic con- ies, the Government is effectively punishing does not play a key role in reducing income those who succeed ditions as this will ultimately lead to the im- this segment of society by taxing them a inequality. Otherwise the Gini coefficient If a taxpayer had worked very hard and paid provement of the overall economy. second time. Why we say “taxing a second ratio should be consistent among countries all his taxes due and used the remaining time” is these people are just using their with inheritance tax. money to invest in various assets such as Datuk Chang Kim Loong is surplus savings which were derived from In addition, the Gini coefficient ratio of properties, commodities and equities, it the Hon. Secretary-General incomes that had already been subject to Malaysia at 0.407 is almost the same as the would be utterly unfair for these assets to of the National House income tax. United States which has a ratio of 0.390. be subject to inheritance tax on the demise Buyers Association (HBA). Inheritance tax is effectively sending the This means that Malaysia has managed to of the taxpayer. HBA can be contacted at: message to civil society not to work so hard reduce its income inequality level to that of It is the aspiration of every rakyat to im- Email: [email protected] or to save money for investments but just to a developed country like the USA without prove his or her economic condition and Website: www.hba.org.my have a happy-go-lucky lifestyle and spend all needing inheritance tax. to ensure that his or her future generation Tel: +6012 334 5676

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Friday august 30, 2019 Click/tap on spotlight each listing Commercial Residential to visit the Properties for sale and rent listing’s page

RM950,000 RM800,000 RM170,000 RM1,550,000 Pertama Mahandoi P2, Bandar Sri Sendayan, Seremban, Pangsapuri Seri Saujana, Bandar Seksyen U12, , Selangor Penampang, Sabah Negeri Sembilan Saujana Putra, Selangor Type: Semidee house Tenure: Leasehold Type: Semidee house Tenure: Leasehold Type: Terraced house Tenure: Freehold Type: Apartment Tenure: Leasehold Built-up: 3,500 sq ft Land size: 3,200 sq Built-up: 2,950 sq ft Land size: 3,150 sq ft Built-up: 3,305 sq ft Land size: 3,280 sq ft Built-up: 750 sq ft Bedroom: 5 Bathroom: 5 Bedroom: 3 Bathroom: 4 Bedroom: 4 Bathroom: 4 Bedroom: 3 Bathroom: 2

Abby Tan (REN 20757) Aizat Ghazali (REN 41528) Amal Husna Bt Sulaiman (REN 35294) Anne Annuar (REN 21203) IQI REALTY SDN BHD (E (1) 1584/9) HUNT PROPERTIES SDN BHD (E (1) 1498) ORIENTAL REAL ESTATE (E(1)15013) CBAHARI & CO (VEPM (2) 0255) 6017 261 6216 6013 298 8738 6011 626 85602 6013 298 8635

RENTED foR

RM5,000 (RM4 psf) and DONE RM6,000 (RM4.8 psf) DEAL Two side-by-side shop units, Solaris Dutamas, Kuala Lumpur Concluded by: Kevin Teh (REN 02206) of Polygon Properties (+6013 555 7333) RM315,000 When: July 2019 RM265,000 Taman Desa Intan Batu 8, , Taman Sri Indah, Klang, Selangor Selangor Solaris Dutamas is a business, while the landlords Type: Terraced house Tenure: Freehold Type: Terraced house Tenure: Leasehold Noteworthy mixed development with were also able to secure a Built-up: NA Land size: 1,100 sq ft Bedroom: 3 2 Built-up: 880 sq ft Land size: 1,320sqft • Built-up: 1,250 sq ft residential, retail and office long-term tenant. Bathroom: Bedroom: 4 Bathroom: 2 each components developed by As at end-November, there UEM Sunrise. Located on Jalan were 10 shop units listed for Anuar (REN 26671) • Unfurnished Chris Khaw (REN 38383) Dutamas 1, Kuala Lumpur, rental on EdgeProp.my’s ALAM HARTA REALTY (E (3) 1687) • Two washrooms in THE ROOF REALTY SDN BHD (E (1) 1605/1) Solaris Dutamas is in the property portal, with an 6014 992 2042 one unit 6016 860 9836 vicinity of several affluent average asking rent of Amenities: MATRADE • neighbourhoods such as RM9,650 or RM7 psf. There Exhibition and Convention Centre, Mont’Kiara, Sri Hartamas and were also 28 units looking for Publika Shopping Damansara Heights. buyers, with an average asking Gallery, eateries, Kevin Teh from Polygon price of RM3.55 million or convenience stores, Properties said the two side- RM2,640 psf. banks, night pubs, by-side shop units, which have According to data from international schools a combined built-up size of EdgeProp Research, two shop and medical centres 2,500 sq ft, were rented to one units in Solaris Dutamas were • Easily accessible tenant who was looking for a sold in 2020, with an average via major highways space of over 2,000 sq ft. price of RM3.08 million including “The tenant wanted a or RM1,831 psf. In 2019, six Damansara-Ulu prime spot near Mont’Kiara units changed hands, with Klang Elevated RM11,000,000 with easy accessibility to run a an average price of RM2.63 RM511,999 Highway (DUKE), boutique real estate business,” million or RM2,096 psf. Batu 4 Jalan Kapar, Klang, North-South Taman Nusari Bayu, Seremban, Selangor Expressway, SPRINT he said, adding that the Negeri Sembilan Type: Factory Tenure: Freehold Highway and Jalan tenant found the asking prices Planning to buy or sell a home? Type: Terraced house Tenure: Freehold Built-up: 30,700 sq ft Duta- reasonable amidst the current With EdgeProp’s FREE transacted Built-up: 2,141 sq ft Land size: 1,400 sq ft , you can check past Land size: 1.24 acres Highway market situation. price tool Bedroom: 4 Bathroom: 3 transaction prices for any property Teh deemed this as a good Azman Kadir (REN 11074) by name or area and make an Cloie Chow (REN 25882) deal, as the tenant was able informed decision. ALAM HARTA REALTY (E (3) 168) GS REALTY SDN BHD (E (1) 1307) to find the ideal spot for his 6019 387 7102 6010 231 1178

RM1,300/mth RM650,000 RM1,900,000 RM280,000 The Elements, Ampang, Centrestage, Petaling Jaya, Empire Residence, Damansara Metro Villa, Ampang, Selangor Kuala Lumpur Selangor Perdana, Selangor Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold Type: Condominium Tenure: Leasehold Type: Terraced house Tenure: Leasehold Built-up: 820 sq ft Built-up: 520 sq ft Built-up: 915 sq ft Built-up: 4,880 sq ft Land size: 1,170 sq ft Bedroom: 3 Bathroom: 2 Bedroom: 1 Bathroom: 1 Bedroom: 4 Bathroom: 2 Bedroom: 5 Bathroom: 6

Azreen Bin Khalid (REN 40873) Brian Sen (REN 40684) Chris Chiam (REN 27288) Den Lam (REN 13458) NILAI HARTA CONSULTANT SDN (VE (1) 0134/2) ERE REALTOR (E (3) 1817) REAPFIELD PROPERTIES (SJ) SDN BHD (E (1) 0452/2) CID REALTORS SDN BHD (E (1) 1855) 6011 281 45900 6018 281 0248 6019 317 7060 6017 336 9197 EP 18 Friday december 11, 2020

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RM432,000 RM54,952/mth RM10,500,000 RM16,800 , Kapar Indah Bestari, Kapar, Bukit Bandaraya, Bangsar, Plaza Sentral, KL Sentral, Puchong, Selangor Selangor Kuala Lumpur Kuala Lumpur Type: Townhouse Tenure: Leasehold Type: Factory Tenure: Freehold Type: Bungalow Tenure: Freehold Type: Office Tenure: Freehold Built-up: 1,282 sq ft Land size: 1,650 sq Built-up: 34,345 sq ft Land size: 47,523 sq ft Built-up: 9,200 sq ft Land size: 10,390 sq ft Built-up: 3,592 sq ft Bedroom: 3 Bathroom: 2 Bedroom: 6 Bathroom: 8

Fong Tan (REN 38422) Foong Boon Chin (REN 24025) Harry Anwar (REN 38290) Henry Chin (E1833) REAL ESTATE FINDERS (MY) SDN. BHD (E (1) 1516) MEGAHARTA REAL ESTATE SDN (RE (1) 1215) Azmi & Co Estate Agency Sdn Bhd (E (1) 0553) PROPERTY EXPRESS (E (3) 1205) 6012 370 9874 6012 692 2939 6012 912 5034 6012 377 8306

Sold foR RM2.48 mil (RM575 psf based on land size) Bungalow unit, ForestHill Damansara, , Selangor Concluded by: Susan Woo (REN 16613) of Oneworld Real Estate (+6016 206 6060) DONE When: Aug 2019 DEAL RM7,500/mth RM1,000,000 Ampersand, Jalan Kia Peng, ForestHill Damansara is an very good quality finishing Surian Condominium, Kuala Lumpur Noteworthy exclusive, luxury residential and did not require much Mutiara Damansara, Selangor Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold Leasehold development situated in renovation before moving in,” Built-up: 2,777 sq ft • Built-up: 1,421 sq ft Damansara, featuring 75 units she shared. Bedroom: 4 Bathroom: 6 • Built-up: 5,485 sq ft; Bedroom: 4 Bathroom: 3 Land size: 4,306 sq ft of bungalows overlooking She felt it was a great deal Jelen Chong (REN 22343) a six-acre lake, combining to the buyer as they paid a Laura Teh (REN 02734) • 6 bedrooms; 7 REAPFIELD PROPERTIES (HQ) SDN BHD (E (1) 0452) bathrooms residential luxury with much lower price than when REAPFIELD PROPERTIES SDN BHD (E (1) 0452) 6012 246 9258 environmental and ecological the development was first 6019 221 9830 • Semi-furnished with conservation. launched back in 2013 at a price private lift Susan Woo of Oneworld of RM530 psf to RM780 psf. Low-density • Real Estate said one of The most recent ForestHill development with 6-tier security the selling points of the Damansara transaction development is each unit recorded in EdgeProp Research Nearby amenities: • comes with a private lift. was in 2017. The unit was sold at Shopping malls, shoplots, hospital “It is an exclusive RM4.33 million or RM1,022 psf. and medical centre development. The seller is As at mid-November 2020, and grocery store currently abroad and has no five bungalows of ForestHill intention of coming back to Damansara were up for sale • Easy access to major highways such as Malaysia in the near future, at an average asking price of Damansara-Puchong hence he decided to cash out RM3.1 million or RM775 psf. RM1,150,000 Expressway (LDP), the unit,” Woo noted. Meanwhile, another five units RM500,000 New Klang Valley Meanwhile, the buyer was a were looking for tenants at an The Loft @ Imago, Expressway (NKVE), young couple with two children. average asking monthly rental Taman Seri Binjai, Seremban, Kota Kinabalu, Sabah SPRINT Highway and They were looking to upgrade of RM10,500 or RM2.80 psf. Negeri Sembilan Type: Condominium Tenure: Leasehold Penchala Link their living environment for Type: Terraced house Tenure: Freehold Built-up: 1,128 sq ft Built-up: 2,132 sq ft Land size: 1,430 sq ft their growing kids. Planning to buy or sell a home? Bedroom: 3 Bathroom: 2 Bedroom: 4 Bathroom: 3 “They felt that this unit With EdgeProp’s FREE transacted price tool, you can check past Jenny Wong (REN 31278) was perfect for them as it was transaction prices for any property Lue (REN 18679) IQI REALTY SDN BHD (E (1) 1584/9) very spacious and with good by name or area and make an HARTAMAS REAL ESTATE (M) SDN BHD (E (1) 1439) 6019 881 3803 security. Besides, the unit had informed decision. 6014 626 4929

RM2,600,000 RM680,000 RM397,800 RM1,016,100 Jesselton Residences, Casa Damansara 1, Petaling Jaya, Meru Klang, Klang, Selangor Taman Puchong Prima, Puchong, Kota Kinabalu, Sabah Selangor Terraced house Selangor Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold Type: Terraced house Tenure: Freehold Type: Terraced house Tenure: Leasehold Built-up: 2,266 sq ft Built-up: 1,045 sq ft Built-up: 990 sq ft Land size: 1,914 sq ft Built-up: 3,010 sq ft Land size: 3,875 sq ft Bedroom: 4 Bathroom: 5 Bedroom: 3 Bathroom: 2 Bedroom: 4 Bathroom: 2 Bedroom: 4 Bathroom: 4

Jenny Wong (REN 31278) Jimmy Lee (REN 10744) Khairul Aswad (REN 30578) Mancy Ho (REN 18807) IQI REALTY SDN BHD (E (1) 1584/9) CITY CREST REALTORS (E (3) 1488) ALAM HARTA REALTY (E (3) 1687) TOTAL REALTY SDN BHD (E (1) 1572) 6019 881 3803 6016 500 8660 6012 402 3764 6012 627 5508 EP 19 Friday december 11, 2020

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RM2,200/mth RM3,500,000 RM880,000 RM560,000 G Residences, Kuchai Lama, Bukit Damansara, Kuala Lumpur Kiara Park, Taman Tun Dr Ismail, Aurora Residence @ Lake Side City, Kuala Lumpur Type: Bungalow Kuala Lumpur Puchong, Selangor Type: Condominium Built-up: 4,500 sq ft Land size: 6,000 sq ft Type: Condominium Tenure: Freehold Type: Condominium Tenure: Leasehold Built-up: 1,168 sq ft Bedroom: 4 Built-up: 1,400 sq ft Built-up: 1,238 sq ft Bedroom: 3 Bathroom: 2 Bedroom: 3 Bathroom: 2 Bedroom: 3 Bathroom: 2

Martin Lau (PEA1369) May Leong (E 2769) Naqi M Derus (REN 34057) Neoh Eng Kim (REN 32881) FULL HOMES REALTY SDN BHD (E (1) 1501) JUBILEE REALTY (E (3) 1853) REAPFIELD PROPERTIES (HQ) SDN BHD (E (1) 0452) TECH REALTORS PROPERTIES SDN BHD (E (1) 1492) 6013 380 8203 6012 779 0798 6012 256 2011 6016 208 6331

RM2,850,000 RM780,000 RM3,200/mth RM880,000 Jelutong Villas, Damansara Seri Riana, Wangsa Maju, Kuala Verdi Eco-dominiums, , Rasah Kemayan, Seremban, Heights, Kuala Lumpur Lumpur Selangor Negeri Sembilan Type: Semidee house Tenure: Freehold Type: Condominium Tenure: Leasehold Type: Condominium Tenure: Freehold Type: Bungalow Tenure: Freehold Built-up: 3,800 sq ft Land size: 3,550 sq ft Built-up: 1,259 sq ft Built-up: 1,442 sq ft Built-up: 3,300 sq ft Land size: 5,380 sq ft Bedroom: 4 Bathroom: 4 Bedroom: 3 Bathroom: 2 Bedroom: 3 Bathroom: 3 Bedroom: 5 Bathroom: 5

May Leong (E 2769) Riduan Supian (REN 44701) Sandy Lim (REN 05454) Sarah (REN 20610) JUBILEE REALTY (E (3) 1853) MAXXAN REALTY SDN BHD (E (1) 1766) CID REALTORS SDN BHD (E (1) 1855/2) REAPFIELD PROPERTIES (SJ) SDN BHD (E (1) 0452/2) 6012 779 0798 6014 522 0369 6016 301 2015 6016 254 6669

RM2,100/mth RM1,500,000 RM1,100/mth RM50,869/mth Verve Suites, Mont Kiara, Bukit Bandaraya, Bangsar, Koi Prima, Puchong, Selangor Plaza , Kuala Lumpur Kuala Lumpur Type: Condominium Tenure: Leasehold Petaling Jaya, Selangor Type: Condominium Tenure: Freehold Type: Semidee house Tenure: Freehold Built-up: 1,055 sq ft Type: Office Tenure: Freehold Built-up: 462 sq ft Built-up: 2,000 sq ft Land size: 1,600 sq ft Bedroom: 3 Bathroom: 2 Built-up: 11,830 sq ft Bedroom: 1 Bathroom: 1 Bedroom: 4 Bathroom: 3

Shiyan Lim (REN 04671) Swiss Tan (REN 15900) Tay Yen Sing (REN 29659) William Tan Koon Leng (PEA 1315) KITH AND KIN REALTY SDN BHD (E (1) 1933) IQI REALTY SDN BHD (E (1) 1584/4) TECH REALTORS PROPERTIES SDN BHD (E (1) 1492) IQI REALTY SDN BHD (E (1) 1584) 6012 288 3436 6013 228 8881 6012 335 0520 6014 313 1931

RM1,300,000 RM600,000 RM640,000 RM530,000 Glomac Damansara Residence, Taman Lestari Perdana, Puchong Taman Reko Mutiara, Bangi, Kota Seriemas, Nilai, Taman Tun Dr Ismail, Kuala Lumpur South, Selangor Selangor Negeri Sembilan Type: Condominium Tenure: Freehold Type: Terraced house Tenure: Leasehold Type: Terraced house Tenure: Freehold Type: Terraced house Tenure: Freehold Built-up: 1,840 sq ft Built-up: 1,080 sq ft Land size: 2,000 sq ft Built-up: 1,400 sq ft Land size: 2,400 sq ft Built-up: 1,800 sq ft Land size: 2,600 sq ft Bedroom: 4 Bathroom: 3 Bedroom: 4 Bathroom: 3 Bedroom: 4 Bathroom: 4 Bedroom: 4 Bathroom: 3

Yat Min (REN 31294) Yong Hao Sit (REN 09622) Zazarina (REN 31851) Zuraidah (REN 17983) WTW REAL ESTATE SDN BHD (E (1) 0507) CENTELINE ASIA SDN BHD (E (1) 1891) RESCOM REALTY (VE (3) 0244) LEGACY REAL PROPERTY SDN BHD (E (1) 1925) 6018 661 3088 6012 690 8291 6016 431 2570 6019 221 5106 EP 20 Friday december 11, 2020

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Shean Ernest Merlissa Chang Ong Wong REN 24470 REN 24216 REN 06119 KITH AND KIN REALTY CITY CREST REALTORS VIVAHOMES REALTY SDN BHD (E (1) 1933) (E (3) 1488) SDN BHD (E (1) 1670/4)

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