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FRIDAY, JULY 26, 2019 . ISSUE 2936/2019 . PP19055/06/2016(034530) PRINT + DIGITAL

FundMyHome+

In partnership with Supported by EP DepositKu participants now

Close to 16,000 10NEWS ready to move into PPR residents to their new homes benefit from Sayangi SEE STORIES ON Rumahku campaign PAGES 4 AND 5

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www.EdgeProp.my EP 2 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY

NEWS HIGHLIGHTS from www.EdgeProp.my

Dairy Farm to be ready in September. shutters six Giant Property market shows In a press conference after a and Cold Storage FundMyHome+DepositKu scheme signs of bottoming out event on July 24, Housing and Lo- stores in Malaysia cal Government Minister Zuraida Hong Kong-based Dairy Farm In- Kamaruddin said the ministry is ternational Holdings Ltd has shut currently fi nalising the schemes. down at least six Giant and Cold “We are now in the process of Storage outlets so far this year, finalising a few schemes, for ex- reported The Edge Malaysia. ample, the Cagamas scheme and Sources told the weekly that another one with China partners on more closures are expected. a rent-to-own scheme. A few banks Dairy Farm’s local subsidiary is are also fi nalising their schemes. GCH Retail (M) Sdn Bhd. The Edge All of these schemes are rent-to- identified at least six stores that own schemes.” have closed this year: Giant Para- mount and Giant Shah Alam Section Hannah Yeoh, The Edge Property Sdn Bhd 18 in , Cold Storage Subang The Malaysian property market is ed to provide further traction for TTDI residents (1091814-P) Parade and Cold Storage at Sunway poised to gather momentum mov- the housing market, including the Level 3, Menara KLK, reject scaled- No. 1 Jalan PJU 7/6, Mutiara Pyramid mall in Petaling Jaya, Giant ing into the second half of 2019 high-end condominium or serviced Damansara, 47810 Petaling Jaya, Sungai Petani in Kedah and Giant as the residential market is “fir- apartment segment,” he said in down Rimba Kiara Selangor, Malaysia Wangsa Walk in . ing various cylinders”, said Knight a press release accompanying its development It is understood that Giant Ban- Frank Malaysia managing director Real Estate Highlights 1H2019 EdgeProp.my dar Puteri Puchong is shutting Sarkunan Subramaniam. report. The Taman Tun Dr Ismail Residents down next month while Cold Stor- “We may fi nally be seeing rays He added that the HOC will Association, a group of longhouse Managing Director/Editor-in-chief age Jaya One in PJ may also close. of hope in the housing market. The continue to stir interest among residents of Taman Rimba Kiara Au Foong Yee HOC (Home Ownership Campaign) homebuyers while providing an and MP Hannah Yeoh have said EDITORIAL First phase of mall 2019, which has been extended opportunity for developers to clear no to the scaled down Taman Executive Editor Sharon Kam until Dec 31, 2019 and is expect- existing stock. Rimba Kiara development in Kuala Assistant Editor Tan Ai Leng at IKEA Batu Kawan Deputy Chief Copy Editor Lumpur. James Chong to open end-2019 Yeoh said that only one of two Senior Writer IKEA Southeast Asia plans to open development project in Bandar outcomes would be accepted. Rachel Chew Get BREAKING Writers the fi rst phase of a shopping centre Cassia, Batu Kawan, with a gross PROPERTY “Our proposed resolution is to Natalie Khoo, Shawn Ng, that will be linked directly to its development value of over RM13 NEWS delivered revoke the development order giv- Chin Wai Lun, Chelsey Poh to you daily via Art Director Sharon Khoh IKEA Batu Kawan outlet in billion. The project is a joint-ven- en. If you want to continue to allow Senior Designer Jun Kit by end-2019. As of July 22, 85% ture between IKEA Southeast Asia WhatsApp! them to build, they must build in Designer Rajita Sivan of the retail extension space has and Aspen Group. the current long house footprint TO SUBSCRIBE been leased. Among the tenants — 4.4 acres and not go beyond the For New Launches/Events/ 1. Add +6018 290 2116 Press Releases/News Tips are Sports Direct, Project Rock and current footprint. Government to to your contact email: [email protected] Harvey Norman. Taking up 50,000 “The scaled-down version will Tel: (03) 7721 8211 Fax: (03) 7721 8280 announce more easy list as EdgeProp sq ft, Harvey Norman is bringing its homeownership News. Or scan never be accepted by me or the ADVERTISING & MARKETING fl agship superstore concept beyond this QR code. residents.” Associate Account Director, the Klang Valley for the fi rst time. schemes soon The scaled-down plan has 1.6ha Advertising & Marketing 2. Send us a WhatsApp with Heidee Ahmad (019) 388 1880 The retail extension is part of More easy homeownership schemes "NEWS" and your full of open space taken up for devel- Senior Account Manager the master plan for Aspen Vision for fi rst-time homebuyers including opment, down from 3.2ha in the Ian Leong (012) 359 1668 name in the message. Cecilia Too (012) 319 7666 City, a 245-acre freehold mixed rent-to-own schemes are expected original plan. Account Manager Joane Tan (012) 377 2885 How do I get past issues of this weekly pullout? trending Marketing Support & Ad Trafˎ c Go to www.EdgeProp.my to download for free Madeline Tan (03) 7721 8218 now email: [email protected]

BUSINESS DEVELOPMENT Manager Nimalen Parimalam If you have any real estate-related events, email us at [email protected]. Account Manager Stannly Tan LAUNCHES + EVENTS Events listed here will also appear on www.EdgeProp.my. Executive Nurfarah Diyana Mohd Firhad enjoy some freshly-prepared a joint loan in the current 31, Shah Alam, Selangor PRODUCT DEVELOPMENT & CUSTOMER ADVISORY dim sum. There will also be property market, featuring Contact: (012) 922 1533 Senior Manager Elizabeth Lay a complimentary Touch N guest speaker Hann Liew, Want to have some fun with Associate Omar Nawawi, Go RFID installation on the the CEO of RinggitPlus. Didi & Friends? Join Purcon at Ayesha Hannah Amer Ezani spot for registered guests. the launch of Taman Impian For enquiries and listings RSVP now at Tropicana Corp Melur 2 and enjoy delicious email: [email protected] Tel: (03) 7733 9000 Bhd’s Facebook page. food and a variety of games and workshops while you EdgeProp.my pullout is published TRIO by Setia mingle with your favourite by The Edge Property Sdn Bhd. It is available with The Edge Financial Clay Art Workshop Sunday Funday characters from Didi & Friends. Daily every Friday. The pullout @ Eco Sky Date: July 28 (Sun) is also distributed at more than Date: July 27 (Sat) Time: 10am to 5pm Dinosaur Park 200 ofˎ ces, shopping complexes, condos, medical centres and F&B Time: 1pm to 2pm Venue: TRIO Sales Gallery, Eco Pen Holder Workshop @ Bandar Rimbayu outlets in the Klang Valley. You can Venue: Life Space @ Eco Sky, Bukit Tinggi Klang, Selangor Date: July 28 (Sun) Date: July 28 (Sun) also download it for free at 1-29, Eco Sky, No. 972, Batu 6 Contact: (03) 3162 3322 Time: 2pm to 4pm Time: From 8am onwards www.EdgeProp.my 1/2, Jalan Ipoh, Kuala Lumpur Have some fun with baby goats, Venue: EcoWorld Gallery @ Venue: The Arc @ Bandar Contact: (012) 336 7231 rabbits, parrots, hedgehogs Eco Majestic, No. 1, Lingkaran Rimbayu, No. 1, Jalan Flora Th e Edge Malaysia or (012) 336 1953 and many other friendly Eco Majestic, Eco Majestic, 3, Bandar Rimbayu, Telok Publisher and Group CEO Pursue your interest in clay art- animals. There will be food Semenyih, Selangor Panglima Garang, Selangor Ho Kay Tat making at a workshop hosted and a chance to make your Contact: (012) 338 7232 Contact: (03) 5637 3821

EDITORIAL by Eco Sky by EcoWorld. At own souvenirs to take home. Eco Majestic is holding a Learn more and have fun with Editor-in-chief Azam Aris RM25 per class, the workshop workshop for those interested the dinosaurs at this all-day CORPORATE is open to participants aged Talk by Hann Liew, in creating their own eco- family event organised by IJM Chief Operating Ofˎ cer four years and above. CEO of RinggitPlus friendly pen holders. At Land Bhd. Children can also take Lim Shiew Yuin ADVERTISING & MARKETING Date: July 27 (Sat) RM10/pax, participants will part in the Dino Dash Challenge, Chief Commercial Ofˎ cer Dim Sum Time Time: 12pm to 3pm go home with one of their obstacle courses and rodeo rides. Sharon Teh (012) 313 9056 @ Tropicana Gardens Venue: M Centura Sales own stationery stands. General Manager Fong Lai Kuan (012) 386 2831 Date: July 27 (Sat) Gallery, G-07, Maxim Citylights Senior Sales Managers Time: 11am to 5pm Sentul, No. 25 Jalan Sentul Impian Bersama Gregory Thu (012) 376 0614 Venue: Tropicana Gardens Pasar, Kuala Lumpur Didi & Friends Lim Sook Chin (012) 205 5986 Sales Gallery, Lot 52581, Jalan Contact: (03) 9212 8309 Date: July 28 (Sun) Head of Marketing Support & Ad Trafˎ c PJU 3/21, Tropicana Indah, Hosted by Mah Sing Group Time: 10am to 5pm Lorraine Chan (03) 7721 8001 Petaling Jaya, Selangor Bhd, discover how couples Venue: Galeri Impian @ No. 9-G, Contact: (03) 7880 0989 can maintain their personal Jalan Anggerik Aranda BG 31/ Head to Tropicana Gardens to fi nancial security when obtaining BG, Kota Kemuning, Seksyen FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY EP 3 EP 4 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY NEWS

FMH+DepositKu participants now ready to move into their new homes

PICTURES BY LOW YEN YEING | EdgeProp.my BY RACHEL CHEW

PUTRAJAYA: The first batch of homebuyers under the FundMyHome+DepositKu scheme are glad to finally have a home of their own. As many as 16 of these fi rst-time homebuyers received their fi nal documents for the scheme from Housing and Local Government (KPKT) Minister Zuraida Kamaruddin at an event held in Putrajaya on July 24. Launched early this year by Zuraida, the FundMyHome+DepositKu scheme is a joint initiative between EdgeProp Sdn Bhd (EdgeProp) and KPKT. It al- lows eligible FundMyHome (FMH) participants to apply for a loan of up to RM30,000 from the government through DepositKu. The loan is to assist the participants to pay off the 20% house price deposit required under the FMH scheme. Developed by EdgeProp and offi ciat- ed by Prime Minister Tun Dr Mahathir Tong (ˎ fth from left), followed by Zuraida, Wong, KPKT deputy secretary-general (management) Zamri Salleh and deputy secretary-general Mohamad in November last year, FMH (urban wellbeing) Datuk Azhar Ahmad with the homeowners of the FMH+DepositKu scheme. is a platform that brings together fi rst- time homebuyers and institutions in a ment), but the following fi ve years you mutually supportive relationship. do not need to pay anything. Under FMH, buyers only need to pay “Moreover, you can choose to stay 20% of the property price. Th ey do not on or sell the house fi ve years later and need a bank mortgage, so there are no share the upside of the property value. monthly repayments. Th e remaining Who knows, the appreciation in the 80% of the purchase price is contributed house price may offset the 20% you by participating institutional co-inves- paid to own this home fi ve years ago,” tors, who will be sharing the upside in said Zuraida in her speech at the event. the future value of the property. Participants of the scheme will also “FMH is a viable alternative home- be offered a 30% discount in a spe- ownership scheme. Th e process of own- cial move-in package from Panasonic ing a home under the scheme may be Malaysia, which comprises a refrig- tough at the beginning (20% down pay- erator, washing machine, two ceiling

Zuraida: The fans and a 40-inch television. Th ose and share the proceeds with co-in- (Seated from left): process of who were present also received gifts vestors; buy the property by cash or Zamri Salleh, owning a home of rice-cookers and table fans from with a bank mortgage; or roll over Wong, Zuraida, under the FMH Panasonic Malaysia. the property on the FMH platform Tong and scheme may National Housing be tough at the Also present at the event was for another fi ve years. EdgeProp chairman Datuk Tong Kooi The FMH+DepositKu scheme Department beginning (20% deputy director- down payment), Ong, KPKT deputy secretary general is open for all fi rst-time Malaysian general but the following (Policy) Datuk Dr Mary Wong and other homebuyers, aged from 21 to 60, Dr Alauddin ˎ ve years you do senior ministry offi cials. with a household income of under Sidal. not need to pay According to Tong, since the launch RM10,000 per month. anything. of FMH, over 8,000 people have ex- pressed interest in buying a home on This story first appeared on the platform. However, the most com- www.EdgeProp.my mon issue faced by these prospective homebuyers is their inability to raise the required 20% deposit towards the purchase. “Today, we address the second chal- lenge – the inability of buyers in pay- ing the 20% down payment – with the DepositKu scheme by the Ministry of Housing. DepositKu will fund up to 10% of the home price for qualifi ed buyers, subject to a maximum of RM30,000. “Th is means that for a RM300,000 home, homebuyers need to only raise 10% down payment or RM30,000, while the other 10% will be from the DepositKu scheme with the balance 80% from the investors of the FMH platform,” Tong said. At the end of fi ve years, the benefi - ciaries of the DepositKu scheme would have several options made available to One of the homeowners Haˎ zah Abdul Rahman receiving gifts them. Th ey can either repay the loan from Panasonic Malaysia strategic B2B development general or convert it into a subsidy. And under manager Tan Chee Hon (left) while Tong, Zuraida, and Wong Happy homeowners with their gifts, rice cookers and table fans from Panasonic. FMH, they can either: sell the property look on. FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY EP 5 NEWS

PICTURES BY LOW YEN YEING | EdgeProp.my

FMH+DepositKu scheme. One of the homebuyers, Muhamad Syafiq Fikri Nordin, ‘My own home, came to know about the scheme via his property agent. Having faced loan rejections, AT LAST!’ Syafiq said: “It has been tough ob- taining loans. FMH+Depositku is a welcome move especially to help homebuyers who are not yet finan- BY CHIN WAI LUN cially stable. Therefore, I am very & TAN AI LENG VIDEO Hafizah gets excited to be able to finally pur- her home via chase an apartment for my family.” PUTRAJAYA: After waiting for more FundMyHome+ Nur Saidatul Izuanis Salleh, 22, than 10 years, housewife Hafizah DepositKu who was also one of the success- Abdul Rahman and her family now ful homeowners, said the scheme have a home of their own, thanks Zuraida with Hafizah, Tong (left) is an excellent platform for young to the FundMyHome+DepositKu and KPKT Deputy Secretary-General homebuyers especially fresh grad- scheme. (policy) Datuk Mary Wong uates like herself. Hafizah and her husband have Lai Lin (right). She also offered a few words of been renting for more than a dec- advice for the youth. “Start early. ade in Semenyih, Selangor and over Purchase Agreement (SPA) and scheme when they attended the Read a lot about property during the years, the couple applied for FundMyHome (FMH) agreement launch of the scheme in February your university days. There are usu- numerous housing loans but failed to their first home on July 24 with her this year officiated by Housing and 20 FEBFLASHBACK 2019 ally seminars and talks by proper- to get approval for any of them. husband Mohamad Azhar Md Zahir. Local Government (KPKT) Minister Skim DepositKu launch ty developers held on campuses. FundMyHome “All my many applications to “I still cannot believe it! My Zuraida Kamaruddin. Take that opportunity to better un- banks for a housing loan were re- own home, at last!” exclaimed the Hafizah had met Zuraida then + derstand about property and that jected. Why? Just because my hus- 34-year-old mother of four children. and had voiced her frustrations in will help you on your first home band and I prefer to pay cash for all Eager to own their own home, getting a house of her own to the purchase.” our purchases, so we do not have Hafizah and her husband, who is minister. Now, five months later, Mohamad Faris, another new any credit card track record!” said a self-employed programmer, first she now has a home to call her homeowner, came to know about Hafizah after signing the Sale and heard about the FMH+DepositKu own under the FMH+DepositKu FMH+DepositKu when he attended scheme. a property seminar early this year STORY VIDEO Developed by EdgeProp Sdn Hafizah’s pain Hafizah’s and realised that the scheme could Bhd (EdgeProp) and launched by in trying to loan application be a good opportunity for him to Prime Minister Tun Dr Mahathir buy a home woes own his first home. Mohamad in November last year, “FMH and Depositku provide FMH is a platform that brings to- of the house price or a maximum an easier entry to own a home and gether first-time homebuyers and of RM30,000 to eligible first-time I am not burdened by hefty down institutional investors in a mutually homebuyers. payments or monthly housing loan supportive relationship. At an event at KPKT officiated instalments. Under FMH, buyers only need to by Zuraida on July 24, Hafizah and “I could use this in five years’ pay 20% of the property price. They 15 others received their FMH+De- time to save more money while do not need a bank mortgage, so positKu documents after signing owning a starter home,” said the 29- there are no monthly repayments. their SPAs. Witnessing the joyous year old online business operator. The remaining 80% of the purchase occasion with Zuraida was EdgeProp Faris was also impressed with price is contributed by participat- chairman Datuk Tong Kooi Ong and FMH’s property choices as the par- ing institutional co-investors, who other senior KPKT officials. ticipating developers are reputable Faris (right): FundMyHome and Nur Saidatul hopes that the Depositku provide an easier entry to government will encourage more will be sharing the upside in the The group of happy new home- ones with good track records. own a home and I am not burdened such schemes to be made available future value of the property. Mean- owners, accompanied by their fam- by hefty down payments and to better aid the people in obtaining while, DepositKu is a KPKT initi- ily members, were among the first This story first appeared on monthly instalments. homes. ative providing loans of up to 10% batch of successful applicants of the www.EdgeProp.my

FundMyHome attracted more than 8,000 prospective homebuyers

BY SHAWN NG the future value of the property. in buying a home on the platform, has proven today,” he added. During the launch of the platform including the 16 buyers present at He is also glad that KPKT is of- PUTRAJAYA: FundMyHome (FMH) last November, Prime Minister Tun the event. fering financial aid to the buyers has proven that it is possible to Dr Mahathir Mohamad challenged Tong said FMH is “agnostic” under the FMH platform through make homeownership more ac- EdgeProp, the developer of FMH, when working with developers, the FMH+DepositKu scheme. cessible to Malaysians, especially to prove that such a “fantastic idea” and in future it would work with DepositKu will fund up to 10% of those in the lower income group, can be proven viable. more developers to secure more the home price for qualified buyers, with the signing of sale and pur- “I hope and believe that this homes for FMH. subject to a maximum of RM30,000. chase agreements by the first batch scheme could help encourage Tong noted that the key chal- This means that for a RM300,000 of homeowners under the FMH homeownership,” Mahathir had lenges to homeownership for many home, homebuyers need to only platform. said at that time. Malaysians today, especially the raise 10% down payment or In an event held at the Ministry “Today, we are delighted to working class living in the city, RM30,000, while the other 10% of Housing and Local Government witness the realisation of fellow are the inability to get a mortgage will be from the scheme with the (KPKT) in Putrajaya on July 24, 16 Malaysians’ dream in finally owning and to pay the down payment for balance 80% from the investors of participants from the first batch a place they can call their own,” a home purchase, which can be the FMH platform. received their documents from the EdgeProp Sdn Bhd (EdgeProp) attributed to two main reasons — For bumiputera buyers, if the ministry under the FMH+Deposit- chairman Datuk Tong Kooi Ong buyers’ incomes are too low and bumi discount entitlement is avail- Ku scheme. said in his speech. home prices are too high. able, they will pay even less. Under the FMH platform, as- “The Prime Minister reminded Hence, the FMH platform is With a 7% bumi discount, first- piring homebuyers only pay 20% me that the proof of the pudding is launched to help those who are un- time bumiputera buyers only need of the property price to own a in the eating, I think today we have able to own a home due to their ina- to pay RM9,000 to buy a RM300,000 home while the remaining 80% delivered it,” he added. Tong: The Prime Minister reminded bility to obtain a mortgage, he said. home. of the price will be contributed Fast forward to today, the FMH me that the proof of the pudding “Going forward, FMH will by participating institutional co- platform has attracted more than is in the eating, I think today we make homeownership possible Go to www.EdgeProp.my for more investors, who share the upside in 8,000 people who are interested have delivered it. for many more Malaysians, as it related stories and videos EP 6 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY COVER STORY CHAN SOW LIN: On the slow train to transformation EdgeProp.my PICTURES BY LOW YEN YEING PICTURES BY LOW |

BY SHAWN NG through 37 stations to form a 52.2 km alignment. It looks like It looks like Chan Sow Lin’s gentrifi cation is he Jalan Chan Sow Lin area is one of fi nally taking shape. But for homebuyers and Chan Sow Lin’s A SWOT analysis the oldest industrial areas in Kuala property investors, should it be included in their gentrifi cation Lumpur. It was established over a watch list? What would the future of this shabby of Chan Sow Lin century ago in the late 1900s. industrial spot look like in the years to come? is fi nally taking Named after the late tin tycoon shape. But for Chan Sow Lin, the area is home to Becoming a popular location STRENGTHS many old and established manufac- Nawawi Tie Leung Sdn Bhd managing director Eddy homebuyers • Close to KL turing factories, warehouses and car service centres. Wong tells EdgeProp.my that the transformation and property city centre THowever, new developments can be seen pop- of the Chan Sow Lin area, with the development of ping up in this place over the past few years, includ- commercial and residential properties there, will investors, • Existing LRT station ing Mah Sing Group Bhd’s Southgate Commercial make the area more popular in future. should it be • Upcoming Centre, Th e Trax mixed development by Utusan Me- “Th ese developments are expected to improve MRT station layu (Malaysia) Bhd and One Residences serviced the appeal of Chan Sow Lin. Its transformation included in apartment by Akisama Group. More developments with the development of commercial and res- their watch list? are on the way, including a 66-storey skyscraper. idential properties will turn this area into an- WEAKNESSES On top of that, a mass rapid transit (MRT) sta- other popular location for property buyers due tion constructed at Jalan Chan Sow Lin will be to its proximity to KL city centre, what more with • Untidy and rundown completed in three years’ time. Th is MRT station its improved connectivity and easy access to high- • Leasehold will be connected to the existing light rail transit ways,” he says. tenure ending (LRT) Ampang line and sandwiched between the Raine & Horne International Zaki + Partners Sdn Tun Razak Exchange (TRX) station and Bandar Bhd associate director James Tan says that most of • Tough to amalgamate Malaysia North station. the lands in Chan Sow Lin are leasehold industrial the lands It is one of the 35 stations along the Sungai lands with only pockets of freehold lands. Buloh-Serdang-Putrajaya (SSP) MRT line, which “A lot of the lands are industrial but some have is expected to become fully operational by July been converted to commercial-title,” he says, add- OPPORTUNITIES 2022. Th e second MRT line in the Klang Valley will ing that there are three mid- to high-end projects • Potential for growth connect Sungai Buloh and Putrajaya by running in the area. • Upcoming MRT station Highest average transaction price Average transaction price of industrial lands of development lands was recorded in 2016 have been going up since 2012 • Spillover from 700 600 Bandar Malaysia (RM psf) Note: No transaction in 2014 (RM psf) Note: No transaction from 2014 to 2016 600 500 500 400 400 CHALLENGES 300 300 • Overcoming 200 200 industrial image 100 100 • Cleaning up its 0 0 2013 2015 2016 2017 2018 2011 2012 2013 2017 rundown environment

SOURCE: EdgeProp.my SOURCE: EdgeProp.my SOURCE: RAINE & HORNE FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY EP 7 COVER STORY

One of the latest completed residential projects is One Residences, a serviced apartment project by Akisama Group along Jalan . According to Tan, this leasehold project com- FOOD GEMS in Chan Sow Lin prises two 35-storey towers housing 684 serviced apartments. Completed in January 2019, One Residences was teamed fi sh head is no doubt one “There were Singaporeans who pur- as one of the best nasi lemak in town and launched with prices from RM577,000 or RM650 of the most famous dishes in Chan posely took a fl ight from Singapore to try a great breakfast to start off your day as it psf. Th e take-up rate stood at 60% as at end-May. Sow Lin, and due to its reputation, our steamed fi sh head,” claimed the lady opens from 6.30am to 11.30am every day. Currently, there are two ongoing developments in many stalls and restaurants that boss, who is the daughter of the fi rst gen- One of the must-have side dishes at the area, namely Trion @ KL and Damai Residence. are selling the dish outside the eration owners. Warung SinarNor is the sambal sotong. Situated at the former Volkswagen showroom Sarea have “borrowed” the name to attract “There were also customers from the The cuttlefi sh is tender and rich in fl avour, site at Jalan Dua, Trion @ KL is a mixed develop- foodies. US and they told me that there is a res- both spicy and sweet. The price seems quite ment by Binastra Land Sdn Bhd. It comprises three One of the restaurants that serves this taurant that serves steamed fi sh head in reasonable — a plate of nasi lemak with towers and a podium off ering retail lots, a hotel dish in Chan Sow Lin is Chong Yen Steamed a China Town there using the name ‘Chan fried chicken, sambal cuttlefi sh and bull’s and serviced apartments. Fish Head Restaurant, located at Jalan Sow Lin’,” she said with a chuckle. eye egg costs RM10. So, if you are planning Of the three towers, there will be a 66-storey 2/89c. Her parents started Chong Yen as a to visit them, better be early to avoid the skyscraper that is expected to become one of the The restaurant is more than three dec- roadside stall along Jalan Tiga in 1983 crowd. tallest buildings in the vicinity. ades old and only serves one type of fi sh before it moved into the current shoplot According to Raine & Horne, there are 1,344 — Asian Carp which is better known as about nine years ago. serviced apartment units at Trion @ KL with built- Soong Yi with a choice of two types of There are quite a few food gems hidden ups from 689 to 1,055 sq ft. With an average price sauce — the classic with minced ginger, in Chan Sow Lin. Along Jalan Dua are some of about RM800 psf, the units were 70% sold as at garlic, scallion, chili padi and soya sauce; humble food stalls and the most popular end-May. or the “spicier” version. among them is Warung Sinar Nor Nasi Damai Residence, on the other hand, is a ser- Open from 10am to 4pm on Monday to Lemak Kukus, a roadside stall that has viced apartment project by Damai Cheras Sdn Saturday, Chong Yen’s popularity is well 50 years of history and known for its nasi Bhd. Sitting along Jalan Sungai Besi, it comprises known not just among the locals but also lemak with a wide a range of side dishes. 443 units with built-ups from 695 to 1,051 sq ft. foreign patrons. Netizens who reviewed the stall rated it Priced from RM600 psf, these units were 50% sold as at end-May. Th e ongoing developments in the area will pro- vide more exciting products and more choices for homebuyers, says Wong. Latest developments in Chan Sow Lin “If and when the Kuala Lumpur-Singapore High Speed Rail (HSR) project is revived, Bandar Malaysia will be a transportation hub and the surrounding (completed) areas including Chan Sow Lin will benefi t from One Residences the improved connectivity. Homebuyers will en- LOCATION 128, Jalan Sungai Besi, Chan joy higher capital appreciation of their properties, Sow Lin, 57100 Kuala Lumpur and investment properties will off er good rental DEVELOPER Akisama Group returns,” he adds. TENURE Leasehold Chan Sow Lin and Bandar Malaysia are divided TYPE Serviced apartment by Jalan Sungai Besi. It is a mere 3km drive between Law: Investors would NO. OF STOREYS Jalan Satu in Chan Sow Lin and Galleria Bandar have to hold on for a 35 Malaysia, which is located at Jalan Lapangan longer period to see NO. OF BLOCKS 2 Terbang Lama, off Jalan Istana at the former airbase. decent proˎ ts if they NO. OF UNITS 684 Th e revival of Bandar Malaysia was announced invest in the area today. BUILT-UP 888 to 1,273 sq ft by the government in April this year and according LAUNCH DATE March 2015 to a statement by the Prime Minister’s Offi ce, the COMPLETION DATE development is expected to generate an estimated ABDUL GHANI ISMAIL | THE EDGE January 2019 gross development value of RM140 billion with the LAUNCH PRICE From RM577,000 construction of a People’s Park and 10,000 units or about RM650 psf of aff ordable homes, among others. ASKING PRICE ON THE RM570,000 to RM1.02 million Th e KL-Singapore HSR, on the other hand, is SECONDARY MARKET being reviewed by the government on cost re- TAKE-UP RATE 60% (as at end-May) duction after it has been postponed until end- May 2020. While the details may be changed from its original Damai Residence (ongoing) plan due to the cost reduction exercise, information LOCATION on MyHSR Corp Sdn Bhd’s website shows that 326, Jalan Sungai Besi, Chan Sow Lin, 57100 Kuala Lumpur the HSR will have seven stations in Malaysia, DEVELOPER Damai Cheras Sdn Bhd namely Bandar Malaysia, Sepang-Putrajaya, Tan: This area deˎ nitely Seremban, Ayer Keroh, Muar, Batu Pahat and has potential and Trion KL TENURE Leasehold Iskandar Puteri, before reaching its last destination given time, it will rise (ongoing) TYPE Serviced apartment in Jurong East, Singapore. up although there are NO. OF STOREYS 30 LOCATION Jalan Dua, Chan Sow Lin, challenges. NO. OF BLOCKS 1 Improving infrastructure 57100 Kuala Lumpur NO. OF UNITS 443 Wong notes that Bandar Malaysia is a huge de- DEVELOPER Binastra Land Sdn Bhd BUILT-UP 695 to 1,051 sq ft velopment that will see infrastructural improve- TENURE Freehold LAUNCH DATE 2018 ments being undertaken in the surrounding areas TYPE Serviced apartment, hotel as well. Hence, Bandar Malaysia is expected to be and retail ESTIMATED 2021 COMPLETION DATE a catalyst for growth in the neighbouring areas, NO. OF STOREYS 59 to 66 LAUNCH PRICE From RM420,000 or RM600 psf including Chan Sow Lin. NO. OF BLOCKS 3 blocks of serviced TAKE-UP RATE 50% (as at end-May) Meridin Properties Sdn Bhd senior consultant apartments, hotel rooms and Cogan Law, who specialises in the locality, be- 2 levels of retail lots lieves Chan Sow Lin’s strategic location is what NO. OF UNITS 1,344 serviced apartments has attracted developers to venture into the area. and 235 hotel rooms “Chan Sow Lin is located opposite Bandar BUILT-UP 689 to 1,055 sq ft Malaysia and nearby TRX, a new fi nancial district SOFT LAUNCH DATE 1Q2019 in the city centre. Furthermore, it is surrounded by Wong: If and when matured areas, such as the KL city centre, Taman the KL-Singapore HSR ESTIMATED 4Q2023 COMPLETION DATE Maluri and Cheras,” he says. project is revived, the LAUNCH PRICE OF From RM549,800 or about “Th e MRT station is expected to further enhance surrounding areas SERVICED APARTMENT RM800 psf the connectivity of the area as one can easily com- including Chan Sow Lin mute to Bandar Malaysia and TRX,” Law off ers. will beneˎ t from the TAKE-UP RATE 70% (as at end-May) CONTINUES NEXT PAGE improved connectivity. SOURCE: RAINE & HORNE EP 8 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY PROPERTY MANAGEMENT — Ask the experts

What problems can cause a Is it necessary to renew residential building to be unsafe? the ˎ re certiˎ cate of a nsafe building conditions cracks, water leaks, slopes, retaining building every year? can be attributed to non- walls, electrical installations, active roperties that fall compliant design and and passive fi re fi ghting equipment, under ‘DESIGNATED Uspecifi cation, inferior lifts, pumps and gensets. Defects Ppremises’ in the Fire construction workmanship, must be rectifi ed within the Services Act 1988, inadequate maintenance and Defect Liability Period. If left Fire Services (Designated unregulated renovations/ unattended, common area defects Premises) Order 1998 and alterations. such as inoperable fi re protection Fire Services (Fire Certifi cate) Buildings in Malaysia undergo equipment — pumps, genset, Regulations 2001 require yearly fi re certifi cate vigorous and stringent compliance detectors and control panels can renewal. These designated premises are typically for purposes of design, construction lead to unsafe conditions exposing commercial and institutional buildings such as and occupation. Generally, the property and occupants to fi re shopping malls, offi ces, libraries, hostels, hotels, there are adequate laws and and electrocution. factories, hospitals, nursing homes, storage regulations that cover all aspects As the JMB (eventually the buildings, places of assembly and underground of building design, safety, piling, Management Corporation) is tasked car-parking structures. structure, slopes, roads, drains, fi re with managing the building, the Strata residential properties used as protection, electrical installation, understanding of preventive and apartments and condominiums are exempted; mechanical engineering for lifts, predictive maintenance will ensure outright apathy, many carry out but apartment blocks that sit on top of shopping/ pumps and pipes, etc. In this the continued functionality and renovations and alterations without commercial podiums are NOT exempted. respect, homeowners must be performance of all the installations proper approvals or professional In this context, the Joint Management Body wary of unscrupulous players in and systems. help. For example, dilapidated fi re or Management Corporation is well advised to the industry that deliver buildings ‘Prevention is better than cure’ resistant-rated doors replaced maintain in good order the fi re-fi ghting and of substandard workmanship or rings very true here. Building with normal door or lock sets thus protection equipment in their buildings. specifi cations. maintenance must be carried out allowing the spread of smoke or fi re; Once the Joint Management properly and diligently. Not only will conversion of electrical rooms into AANTHONNY LEEE Body (JMB) has been established, it be more costly to fi x but in the event storerooms; obstructed access to AArchitect CCentree traineer and conssultant; it should take a proactive role to of an emergency, faulty equipment fi re hydrants with plants, hose reels; EEdgeProp Malayysia’s BBest Managged comprehensively identify and rectify can lead to loss of property or lives. and locked security grilles within PProperty Awards 20199 judge and EEdgeProp.mmy Syymposium on Excellent defects in common areas related to Owing to ignorance or just fi re escape corridors and doors. PProperty Managgement 2019 speaaker

If you have any questions regarding property management, please email [email protected]. Disclaimer: The answers are only proposed Scan for solutions by the expert based on the limited Questions will be answered at the discretion of the editor and the respective experts. hassle-free information given in the questions. maintenance

COVER STORY

Challenges EdgeProp.my hampering growth LOW YEN YEING LOW | FROM PREVIOUS PAGE “However, there is light at the profi ts if they invest in the area to- end of the tunnel — some of the day,” he says. Bright outlook leases are expiring soon and un- Th e KLCP 2020 was gazetted last Raine & Horne’s Tan considers the less the owners have deep pockets October while the KLCP 2020-2040 outlook for Chan Sow Lin to be fair to renew [the tenure], they may is expected to be gazetted in 2020. to bright due to its strategic loca- want to cash out. But it will take Nevertheless, more mixed de- tion and potential spillover from time for the relocation and leases velopments are expected to come Bandar Malaysia. However, he ex- to expire. Once a lot more of these up in the area due to the merits of pects some challenges that could factories move out and the area Chan Sow Lin, he adds. hinder the growth of the area. is ‘spiced’ up, then this area will One of the new projects in the One of the issues is that it has come up,” he elaborates. pipeline could be Trax II, a mixed long been entrenched in people’s “Th is area defi nitely has poten- development that will comprise minds that Chan Sow Lin is an tial and given time, it will rise up retail outlets and residences on industrial area. Th at image could although there are challenges,” Lot 351, Jalan Tiga at Chan Sow deter people from moving into the he concludes. Lin, based on information from area, says Tan. Law concurs, adding that al- Th e Trax’s website. “Th ere is a number of factories though Chan Sow Lin is one of the Data collated by EdgeProp.my still operating in this area, some urban renewal areas that is listed shows that the average transac- of which are heavy industries. under the Kuala Lumpur City Plan tion price of development lands Would you want to live in an (KLCP) 2020, it will take a longer in Chan Sow Lin was at RM500 area surrounded by factories?” time to see things falling into place psf in the second quarter of 2018 he asks. as a few of the factories have just (2Q2018), after hitting its peak of Furthermore, most lands in started to move out. RM736 psf in 1Q2016. Chan Sow Lin are leasehold-titled, “Hence, for investors who are Meanwhile, industrial lands in which would pose a challenge for banking on the growth of Chan the area saw average transaction developers to amalgamate big par- Sow Lin, they would have to hold price go up from RM130 psf in Through Jalan Sungai Besi, TRX is merely a few kilometres away from cels of land. on for a longer period to see decent 2Q2012 to RM560 psf in 4Q2017. Chan Sow Lin. FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY EP 9 FEATURE

BY TAN AI LENG

n 2018, Malaysia recorded 237 proper- ty transactions of above RM10 million Selangor, KL and Melaka from 13 states including the federal ter- ritories (Kuala Lumpur, Labuan and Putrajaya). lead in deals above RM10m in 2018 According to the National Property Information Centre’s (Napic) “RM10 million I LOW YEN YEING | EdgeProp.my Transacted Property Deals – Volume 14”, all states have recorded deals over RM10 million in Bandar Jasin Bistari that sold for RM37.1 except Terengganu and Kelantan. million. Th e top three states with the highest num- Th e second most expensive deal was an ber of property deals above RM10 million The largest concluded 88,130 sq m residential development tract were Selangor (96 cases), Kuala Lumpur deal in Kuala Lumpur in Taman Bukit Serindit in Padang Sema- (43) and Melaka (30). was the Swiss Garden bok, Melaka Tengah, sold for RM24 million. States that have seen more than 10 real Hotel, which was sold to Th e next deal with the highest value in estate deals exceeding RM10 million include Allstar Oddysey Sdn Bhd Melaka was a freehold commercial develop- Johor (29), Sabah (15), Penang (14) and for RM130 million. ment plot of 24,056 sq m at Jalan Tengkera, (12) while Kedah, Negeri Sembilan, Pahang Melaka Tengah, which changed hands at and Sarawak each recorded four deals. RM23.32 million. The federal territories of Labuan and Another vacant land in Jalan Klebang, Putrajaya each saw only one above RM10 Melaka Tengah with land area of 40,133 sq million deal concluded last year. m was also sold for RM23.32 million while another measuring 32,440 sq m in the same area was sold for RM18.85 million. A notable deal in the commercial seg- Selangor ment was a hotel that was sold for RM13.69 Selangor tops the list with 96 deals of which million. The property is located at Jalan 45 were commercial lots and 30 were land Parameswara, Melaka Tengah, which has a deals. Th ere were also 20 commercial prop- land area of 1,711 sq m. erties and one agricultural land deal. Th e deal with the highest value in the com- mercial segment was a 5,046 sq m leasehold offi ce lot in Seksyen 13, Shah Alam with a Johor price tag of RM61.3 million. Th e southern state of Johor has seen 29 real Th e second highest was a freehold va- estate deals of over RM10 million concluded cant office lot of 9,652 sq m in Taman last year. Th e commercial property segment Setia Impian, Hulu Langat, sold for RM47.26 Of note in the residential segment is the between 1,677 sq ft and 3,961 sq ft, private took the lead with 10 transactions followed million. Th is was followed by a freehold lot enbloc sale of 1 Damai Residence in Kg car parks, swimming pool and gymnasium by industrial property and development land in Cyberjaya with a land area of 29,070 sq Datuk Keramat, which was sold for RM12 on the ground fl oor. deals with seven deals each. Th ere were also m that changed hands for RM47 million. million last year. This three-storey, low Meanwhile, a freehold condominium unit two residential land and three agricultural As for development land, the state has density development was built on a 1,209 at Serai at Bukit Bandaraya with a built-up land deals. seen only one freehold commercial devel- sq m leasehold plot. It comprises eight size of 6,759 sq ft was sold with a price tag Johor’s highest priced deal in 2018 was for opment site of 36,912 sq m in Subang Hi- two-storey units with built-ups ranging of RM11 million last year. a development land worth RM310 million. Tech Industrial Park, Shah Alam sold for Th is piece of freehold tract with a land area RM143 million. of 741,150 sq m is located at Jalan Sungai Th ere was also leasehold industrial de- Danga in Pulai, Johor Bahru. velopment land measuring 38,043 sq m in Notable deals of Melaka Th e next highest priced deal was for com- Kota Damansara that was sold for RM92.13 above RM10m in Melaka had the third highest number of mercial property Menara Ansar. Th e 23-year- million and leasehold commercial develop- above RM10 million property deals last year old freehold office building was sold for ment land measuring 38,155 sq m located Malaysia in 2018 with 30 transactions, of which 24 were de- RM143.2 million. Th e 21-storey building in at PJS 9 in Bandar Sunway that was sold for velopment land while four were commer- Johor Bahru city centre has a net lettable RM92 million. cial properties, one residential lot and one area of 240,991 sq ft. Interestingly, there was no residential PROJECT AND DETAILS LAND PRICE agricultural land deal. All were leasehold Making up the top three in Johor was a AREA (RM, MIL) property in Selangor that was sold for over (SQ M) properties. freehold commercial property with a land RM10 million last year. The deal with the highest value was a area of 9,586 sq m in Taman Century, JB, A freehold development 741,150 310 residential development plot of 336,800 sq m which changed hands at RM73 million. Ac- land at Jalan Sungai cording to the Napic report, the transacted Danga, Johor Bahru property was a shop. Kuala Lumpur The freehold offi ce 3,821 143.2 Th e capital city has seen 43 real estate trans- building Menara Ansar, actions of over RM10 million in 2018. Th e Johor Bahru city centre Sabah largest concluded deal was the Swiss Garden A freehold commercial 36,912 143 Hotel in Kuala Lumpur, which was sold to All- development land at In Sabah, a total of 15 deals worth over RM10 star Oddysey Sdn Bhd for RM130 million. Th e Subang Hi-Tech Industrial 2018 million each were recorded, mainly driven hotel is built on a 2,236 sq m freehold tract. Park, Selangor by oil palm land deals (seven) and commer- Th is was followed by a small freehold The freehold Swiss Garden 2,236 130 above RM10m cial development land (four). hotel building with a built-up of only 646 Hotel, Kuala Lumpur Last year, seven oil palm plantation tracts sq m in Jalan Bukit Bintang, which changed deals with land area sizes ranging between 80ha hands at RM95 million, and a freehold pur- A freehold hotel building 646 95 and 603ha changed hands, led by a 603ha pose-built offi ce building with a built-up of at Jalan Bukit Bintang, leasehold tract in Labuk Sugut, Sandakan Kuala Lumpur 920 sq m located at Jalan Cheng Lock which Selangor which were sold at RM41 million. was sold for RM43 million. A leasehold industrial 38,043 92.13 Coming in second and third respective- development land in Kota Kuala In the residential segment, there were 96 Lumpur ly, were oil palm tracts in Kinabatangan, 10 transacted properties tagged over RM10 Damansara, Selangor Sandakan which transacted at RM27.92 million last year. Th e most valuable residen- A leasehold commercial 38,155 92 43 million (364ha leasehold plot) and RM24.78 tial deal in KL last year was a three-storey development land at million (324ha leasehold land). freehold detached house in Country Heights PJS 9 in Bandar Sunway, As for development land, the majority Damansara with a land area size of 1,121 Selangor Melaka of the deals (three) involved commercial sq m which was sold for RM16.25 million. A freehold commercial 9,586 73 development land at Jalan Tuaran in Pantai Coming second was another three-sto- property in Taman 30 Barat Selatan, Kota Kinabalu. rey freehold bungalow, this time in Da- Century, Johor Bahru Sabah Th e deal with the highest value among mansara Heights with a land area of 1,982 them was for a leasehold 43,226 sq m site A freehold offi ce lot in 5,046 47.26 Johor sq m which transacted at RM13.8 million. Seksyen 13, Shah Alam, 15 sold for RM13.5 million. There were also four freehold vacant res- Selangor Meanwhile, the state’s residential segment idential lots in Damansara Heights with 29 saw only one deal of above RM10 million — land area sizes from 2,263 to 2,265 sq m A freehold commercial lot 29,070 47 a leasehold vacant plot at Jalan Tuaran in that were sold for over RM14 million each. in Cyberjaya, Selangor Pantai Utara worth RM15 million. SOURCE: NAPIC SOURCE: NAPIC EP 10 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY NEWS

Close to 16,000 PPR residents to beneˎ t from Sayangi Rumahku campaign

PICTURES BY LOW YEN YEING | EdgeProp.my BY TAN AI LENG (Seated, from left): Beh, KPKT PETALING JAYA: Residents of the local government People’s Housing Programme (PPR) department director-general public housing schemes in PPR Lembah Datuk Noor Subang 1, PPR Seri Cempaka and Ihsan Che Mat, Perumahan Awam Seri Kedah in the Mohammad, Klang Valley will soon see the sports KPKT deputy courts in their communities undergo a secretary-general makeover thanks to a private initiative (Policy) Datuk under the EdgeProp.my–Paramount Dr Mary Wong, Property Sayangi Rumahku Campaign. Au and Nippon The campaign will be jointly Paint Malaysia’s undertaken by EdgeProp Malaysia, general manager, paint company Paramount Property and Nippon marketing Paint Malaysia, and will benefi t close Tay Sze Tuck to 16,000 residents living in the 4,116 taking a group homes in these PPRs. photo with the A ground-breaking ceremony offi ci- representatives of ated by Housing and Local Government PPRs, Paramount Ministry (KPKT) Secretary-General Property, KPKT and Datuk Sri Mohammad Mentek at PPR EdgeProp.my. Lembah Subang 1 last Friday marked the start of the campaign and the re- furbishment works which are expected to be completed this year.

In partnership with Supported by

Th e Sayangi Rumahku campaign is in line with the National Community Policy (Dasar Komuniti Negara or DKN), which was launched by Prime Minister Tun Dr Mahathir Mohamad in February this year. It aims to empower the lives and improve the living environment of the B40 group. Wong and Mohammad taking a weˎ e with EdgeProp.my writers Formulated by KPKT, DKN is a fea- (From left): Beh, Au, Mohammad, Wong and Tay at the ground-breaking ceremony. after the ceremony. ture of the National Housing Policy or Dasar Perumahan Negara 2018-2025. In his speech, Mohammad said the sports courts of these three PPRs will be transformed to colourful and vibrant new looks while maintaining their ex- isting functionality. “One of DKN’s objectives is to nur- ture a sense of belonging to their com- munity by improving the common fa- cilities and the common space safety, hence, encouraging residents to come out from their homes and have more community activities. “While encouraging PPR residents to be more united and care about their community, KPKT also hopes EdgeProp.my–Paramount Property Sayangi Rumahku campaign organisers and partners taking one for the such community-initiated activities album after the ground-breaking ceremony. could help nurture community lead- ers and volunteers from among them Mohammad erness through sports among the PPR irresponsible parties,” he added. Paramount Property Development who will go on to continue improv- (above): We residents regardless of their age, race EdgeProp.my managing director Sdn Bhd CEO Beh Chun Chong said ing their living environment,” said can indirectly and religion,” said Mohammad. and editor-in-chief Au Foong Yee said the company is honoured to be part of Mohammad. cultivate a Th e ministry is also mulling an In- DKN’s objectives and plans involving this initiative to raise the standards of Besides the sports court refurbish- healthy lifestyle ter-PPR Sports Carnival which aims the government, the private sector and living in the PPR community. while fostering ments, KPKT also plans to collabo- the spirit of unity to integrate community relationships community are well thought out and “Specifi cally, we will be involved in rate with the Ministry of Youth and through sports between one PPR and another PPR via truly a life-changing policy for the B40 upgrading sporting facilities to encour- Sports (KBS) to run a programme to among the sports activities. group. age a healthier and more active lifestyle train PPR residents who are keen to PPR residents “In other words, when we live to- “EdgeProp.my has been working amongst residents, especially the youth. become sports coaches for badmin- regardless of gether, we can continue to live, play and hard to rope in real estate industry Th is is in line with Paramount’s vision ton and futsal for example, to train the their age, race solve problems together in harmony. players to support DKN. Despite the of ‘changing lives and enriching com- younger ones in the community. and religion. “I also hope that this sports court current trying times, we are pleased to munities for a better world’,” he noted. “Th rough such eff orts, we can indi- can be utilised as best as possible, so receive good support. We hope more rectly cultivate a healthy lifestyle while that it’s not neglected and becomes companies could join us in this very This story first appeared on fostering the spirit of unity and togeth- a white elephant or is damaged by meaningful journey,” Au added. www.EdgeProp.my

EP 12 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY PROPERTY CHAT

who are present at the AGM. Th e elected BY DATUK CHANGG chairman shall preside over the AGM until KIM LOONG The ABCs of: its conclusion. Th e chairman of the JMC need not be the chairman of the AGM.

ancy (not her real name) and What about an EGM? Under what her fellow committee mem- AGM, EGM circumstances could an EGM be bers were recently elected held? as Joint Management Com- A general meeting of the JMB other than mittee (JMC) members of an AGM is known as an EGM. The JMC the Joint Management Body and committee shall convene an EGM in one of the three N(JMB) of a relatively new condominium in circumstances as follows:- Selangor. As this was the first time they were a) Upon a requisition in writing made by the tasked to helm a JMB, they had mixed feel- parcel owners who together hold no less ings. They were excited to have the bless- meetings than 25% of the aggregate share units; ings of fellow owners to run the JMB, but b) Upon receiving a direction in writing at the same time, they were not too familiar from the COB for the transaction of such with the intricacies of the Strata Manage- business as the COB may direct; ment Act, 2013 (SMA) and its regulations. c) On such other occasions as the JMC thinks During one of HBA’s Meet the Public Ses- fi t. sions, HBA volunteers enlightened Nancy Th e requisition in writing by the parcel on the Annual General Meeting (AGM), Ex- owners to convene an EGM shall state the traordinary General Meeting (EGM), Quo- objects or motions of the EGM and shall be rum of meeting, etc. Here is a summary of signed by the requisitionists and deposited the Q&A for everyone’s benefit. at the registered offi ce of the JMB. In order It is pertinent to note that the executive to ease the process of collecting signatures committee of the JMB is known as the JMC, of the requisitionists for EGM, the requisi- and the executive committee of the Manage- tion in writing may not be in a single docu- ment Corporation (MC), is simply known as ment. It may consist of several documents the Management Committee under the SMA. in like form, each signed by one or more requisitionists. We had our last AGM in June this year. When should we have the Is there a deadline to convene next AGM and what should the an EGM upon receiving the agenda be? requisition in writing or direction AGMs shall be held once every year provid- from COB? ed that no more than 15 months shall lapse Th e EGM shall be held as soon as practicable between the date of one AGM and the next. but no later than six weeks upon receiving Th is means that Nancy’s JMB shall convene the requisition in writing or as directed by the next AGM no later than Aug 31, 2020. the COB. Nevertheless, if the AGM breaches this Th e COB can authorise in writing any rule, it shall not aff ect its validity. Th is means person to convene an EGM in the event, for that if an AGM is held 15 months after the example, a requisition in writing has been last AGM, the resolutions passed are valid received by the JMC but an EGM is not held under the SMA. within the deadline. Th e usual business transacted at an AGM All costs incurred by the person in con- includes considering the audited annual vening the meeting shall fi rst be paid by accounts, election of the JMC and other the JMB to that person and such costs shall matters related to the management and be recoverable as a debt due from all the maintenance of the common property in members of the JMC personally to the JMB. the development. a) Th e place, date and time for the meeting; Th is is to ensure that no fresh motion can b) Each proposed resolution to be consid- be considered at a general meeting unless What is the quorum required What are the consequences of ered at the meeting; every parcel owner has been duly notifi ed. for ordinary JMC meetings? missing the deadline? c) Each parcel owner’s voting rights to vote Th is will give every parcel owner the op- How frequently should we hold It is an off ence under the SMA if an AGM in person or by proxy at the meeting. portunity to make himself available at the committee meetings? fails to be convened before the deadline. In addition, a notice of AGM shall include general meeting to debate and vote on the Th e JMC shall meet at such time and place In this case, the JMC and/or the members the following documents:- motion if it aff ects his or her interest. and at such intervals as the chairman de- of the JMB have committed an off ence and a) A copy of the minutes of the last AGM; However, pursuant to paragraphs 12 and cides. However, the chairman shall not al- shall, on conviction, be liable to a fi ne not b) A copy of the audited accounts together 13 of the Second Schedule, SMA, any par- low more than two months to lapse between exceeding RM50,000 or imprisonment for with the auditor’s report on the accounts cel owner may, by notice in writing to the meetings. a term not exceeding three years or both of the JMB; management office of the JMB, not less Furthermore, the chairman shall call for unless they can prove to the Court that they c) Information on any other matters to be than seven days before the meeting time, a committee meeting if requested by the have tried to prevent missing the deadline. considered at the meeting. request for inclusion of a motion into the COB or by at least two members of the JMC. If the JMC refuses or neglects to hold It is common to include a reminder in existing agenda. Th e quorum of a committee meeting is an AGM despite the fact that the last AGM the notice of AGM that a parcel owner may In this case, it is best that the said motion half of the number of committee members were held more than 15 months ago, com- appoint a proxy to attend and vote during is seconded by another parcel owner during rounding upwards. For example, where there plaints may be lodged with the Commis- the AGM provided that an instrument of the submission to the JMB. are nine members, the quorum is fi ve. If there sioner of Buildings (COB) of the local au- appointing a proxy shall be deposited at is an even number, the chairman shall have thority area who is tasked with enforcing the address of the JMB (which is usually the What is the quorum required for a casting vote in the event of a tie in votes. the SMA. management offi ce) at least 48 hours before an AGM? the time of the AGM. Th e quorum is half of the total persons en- The above procedures will apply to any What are the things we are Parcel owners who have money due and titled to vote, either in person or by proxy. general meeting of the JMB, MC and expected to do before an AGM? payable to the JMB after the seventh day be- Th e said quorum is usually diffi cult to reach. subsidiary MC. The general rule for the Th e JMC shall give at least 14 days’ notice fore the AGM are not entitled to vote during Hence, the SMA adopts a pragmatic ap- notifi cation period of a general meeting of an AGM to every parcel owner, either:- the meeting. Th e JMC shall put up a list of proach in order to avoid wastage of meeting is 14 days for ordinary resolution; a) By hand with proper acknowledgement names of the persons who are entitled to expenses and also time, especially for those 21 days for special resolution and in writing, or vote on the notice board at least 48 hours who have set aside their precious time to unanimous resolution; and 30 days b) By registered post addressed to the last- before the meeting. attend the meeting. Th erefore, if a quorum for comprehensive resolution. known address of business, parcel or is not present within half an hour after the residence of the person to be served or If some owners have issues appointed time for the AGM, those persons c) By attaching the notice or order in a prom- pertaining to how the condominium entitled to vote who are present shall con- Datuk Chang Kim Loong is inent part of the last-known address of is managed, how can a parcel stitute a quorum under the SMA and the the Hon. Secretary-General business, parcel or residence of the per- owner introduce a new motion to AGM can then proceed. of the National House son to be served. be considered at the AGM? Buyers Association (HBA). Th e notice of AGM may be displayed at a No new fresh motion is allowed unless a 14- Who shall preside over the AGM? HBA can be contacted at: conspicuous part of the development area. day notifi cation of such motion has been Every AGM shall be presided over by Email: [email protected] Every notice for AGM shall include the given to every parcel owner pursuant to a chairman who shall be elected from Website: www.hba.org.my following information:- paragraph 12 of the Second Schedule, SMA. amongst those persons entitled to vote Tel: +6012 334 5676 FRIDAY JULY 26, 2019 • THEEDGE FINANCIAL DAILY EP 13