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PostPosted: Tue 08 May 2012 22:07 
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Tun
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rovers wrote:
I doubt they will keep interest rate too low that long. With current inflation, it's also a form of wealth destruction for certain segment of our society, i.e. ppl with cash savings....

Zeti just said inflation will be 2-3% incl min wage impact. Of course, everybody knows that's BS for urban food and other daily expense prices. But think this is a sign that this Fri, she will announce OPR/BLR will stay as they are.

With the problems in Greece, Europe and USA haunting more than ever, inflation will continue to hurt more and more while gomens keep rates low, incr money supply and liquidity to stay afloat.

Locally, I say generally, prop prices can't rise too fast anymore primarily due to high domestic debt and the continuous but prudent lending curbs imposed.

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PostPosted: Wed 09 May 2012 12:18 
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Penghulu

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Unless the borrowings are used for productive purposes, excessive debts may get one into trouble.

Quote:
http://www.asiaone.com/News/AsiaOne%2BNews/Asia/Story/A1Story20120509-344772.html

Two out of three Thai families are in debt: Survey

The Nation/Asia News Network
Wednesday, May 09, 2012

THAILAND - According to the Thai Family Studies Association, 10.5 million of 15 million Thai families it surveyed are in debt, while 1.2 million of them are unable to pay back.

Panpimol Wipulakorn, the association's secretary-general, said yesterday that parents were busy working to repay these debts and thus did not have time to take proper care of their children.

The association and allied organisations will meet the 4th "Thai families warmth promotion operation" on Thursday and Friday to discuss the new challenges, recommendations and lessons from successful operations to strengthen families.

Panpimol said changes in Thai society, including technology, an ageing society and fast-changing economic and financial systems, have left people vulnerable and unable to resist behaviour such as alcohol abuse, gambling and adultery.

Citing a 2009-2011 study on 4,000 families nationwide, she said most people were far too focused on income and economic status.

The association and Mahidol University's National Institute for Child and Family Development conducted the survey.

According to the survey, 70 per cent of the families had debts in 2011, 8 per cent were unable to pay.

It is this need to pay back debts that is forcing people to work longer hours, which means they have no time for their kids, leaving them in the care of others.


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PostPosted: Wed 09 May 2012 17:05 
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Penghulu

Joined: Sat 24 Jul 2010 18:17
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Rebel wrote:
rovers wrote:
I doubt they will keep interest rate too low that long. With current inflation, it's also a form of wealth destruction for certain segment of our society, i.e. ppl with cash savings....

Zeti just said inflation will be 2-3% incl min wage impact. Of course, everybody knows that's BS for urban food and other daily expense prices. But think this is a sign that this Fri, she will announce OPR/BLR will stay as they are.

With the problems in Greece, Europe and USA haunting more than ever, inflation will continue to hurt more and more while gomens keep rates low, incr money supply and liquidity to stay afloat.

Locally, I say generally, prop prices can't rise too fast anymore primarily due to high domestic debt and the continuous but prudent lending curbs imposed.


I also think OPR will stay this Fri. You are right. property prices can't rise too fast anymore. 2008/09 type of gains won't return. But to me, property still be best long term investment tool.


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PostPosted: Wed 09 May 2012 18:22 
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Tun
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rovers wrote:
I also think OPR will stay this Fri. You are right. property prices can't rise too fast anymore. 2008/09 type of gains won't return. But to me, property still be best long term investment tool.

My calculator says landed props in in KV over the past 35 yrs gave 6-8% p.a. cap appr. Depending on where, what, when you acquire, how long you keep it and what you do with it, answer is not so obivous. More so when you consider assessment, tax, maint, renov, bad tenants, and time spent. Now, compare that to some alternatives that allow you to do keyboard strokes to buy and sell, $ in and out digitally. :P

Best is to have some portfolio. however skewed! Props is surely one of them.

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PostPosted: Wed 30 May 2012 8:24 
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Penghulu
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Still having hard time to chew why Sime dares to sell a 24 x 80 aster grove at 850 k....obscene to me...but come to think about it, if 850k at Bukit Jelutong okaylah....so it confirms my guess that Sime is treating this place as the new Bukit Jelutong

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PostPosted: Wed 30 May 2012 9:37 
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Tun
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Bigfoot wrote:
Still having hard time to chew why Sime dares to sell a 24 x 80 aster grove at 850 k....obscene to me...but come to think about it, if 850k at Bukit Jelutong okaylah....so it confirms my guess that Sime is treating this place as the new Bukit Jelutong

They dare do at that price because of DIBS/MOT/Legal. They know many investors/flippers will take it because of low cash input even at elevated price, which explains why it was a bit hush-hush, insiders buy first.

We have seen enough of rising prices in conjunction with DIBS/MOT/Legal in SA with Setia - it works quite well. However, in the case of DA, the real promise of commercial-schools is light, probably being positioned as "eventually will boom with DASH". :?:

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PostPosted: Wed 30 May 2012 10:05 
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Penghulu

Joined: Sun 24 Oct 2010 17:19
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actually for sime, only one township is successful, that is Subang/USJ, that also becos, the location is near PJ, KL
and the concentration of commercials already there in the first place being SS15

after that they just built houses and houses and expect it to be prosper

they try to do it on Putra Heights, Bukit Jelutong, Bukit Raja, Subang Jaya Condo Isola

Denai alam now.....and with bumi ratio at 70%, try to venture in DA night time

Now with our bumi fren can come join in the goreng party with just mere 3% after bumi discount

No wonder it sells


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PostPosted: Wed 30 May 2012 10:16 
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Penghulu
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resident x wrote:
actually for sime, only one township is successful, that is Subang/USJ, that also becos, the location is near PJ, KL
and the concentration of commercials already there in the first place being SS15

after that they just built houses and houses and expect it to be prosper

they try to do it on Putra Heights, Bukit Jelutong, Bukit Raja, Subang Jaya Condo Isola

Denai alam now.....and with bumi ratio at 70%, try to venture in DA night time

Now with our bumi fren can come join in the goreng party with just mere 3% after bumi discount

No wonder it sells


I think you are not 100% correct here....Bukit Jelutong is also a success...at least in the eyes or the earthlings (you call them bumi :mrgreen: ) If you tell your other earthlings friends you stay in Bukit Jelutong...they will say...Bukit Jelutong ka? Power.....jarang anak Melayu tinggal kat Bukit Jelutong... :lol:

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PostPosted: Wed 30 May 2012 17:42 
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Tun
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Dun read this if planning to BBB soon. :mrgreen:

Quote:
Economists: Greek euro exit threatens ‘deep recession’ in Malaysia
http://www.themalaysianinsider.com/mala ... -malaysia/

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PostPosted: Wed 30 May 2012 17:56 
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Penduduk

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if Greek exit, Malaysia definitely hit by recession....but, first one under pressure is luxury condo with lot of foreginer...secondly is luxury condo with local buyer...then is normal condo with local buyer...then only landed which far from KL CITY..ie rawang/NILAI..then come to KLANG/KAJANG....last only hit KL city area which within 25km radar....for this to happen, the recession have to be prolong for at least 10years...
LOCATION ! AND SCARCITY OF LAND ! is major determining factor..



Rebel wrote:
Dun read this if planning to BBB soon. :mrgreen:

Quote:
Economists: Greek euro exit threatens ‘deep recession’ in Malaysia
http://www.themalaysianinsider.com/mala ... -malaysia/


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PostPosted: Wed 30 May 2012 18:13 
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Tun
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gsw8895 wrote:
if Greek exit, Malaysia definitely hit by recession....but, first one under pressure is luxury condo with lot of foreginer...secondly is luxury condo with local buyer...then is normal condo with local buyer...then only landed which far from KL CITY..ie rawang/NILAI..then come to KLANG/KAJANG....last only hit KL city area which within 25km radar....for this to happen, the recession have to be prolong for at least 10years...
LOCATION ! AND SCARCITY OF LAND ! is major determining factor..

GSW, you are the "suppressing star" of doomdoomsayer TOPTAIL. You may wanna say hello to him here: :P
http://www.myrealestate.com.my/viewtopi ... start=1175

I prefer to walk the middle path...

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PostPosted: Wed 30 May 2012 18:31 
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Penghulu

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unfortunately, we can only believe so much those spin doctors said

next, they may come in and write about, early polls indicative that the greek still want to stick to EURO

China, plan to stimulus, US plan for QE3, the list go on and on

after that, greek election, this and this may happen......or otherwise


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PostPosted: Thu 31 May 2012 7:12 
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Tun

Joined: Sat 03 Mar 2007 13:50
Posts: 9484
Location: Setia Tropika, U13/20D
resident x wrote:
actually for sime, only one township is successful, that is Subang/USJ, that also becos, the location is near PJ, KL
and the concentration of commercials already there in the first place being SS15

after that they just built houses and houses and expect it to be prosper



same with commercial too!

the problem with SIME is that they are sticking with the same formulae that worked in the 70's and 80's...into 2000 and 2010......

they failed to realise that between then and now, things have changed....especially with personal security issues, raised of std of living and etc....

Beside, SIME as a group is losing money elsewhere....and they are banking on property to fill in the void hole.....

Just compare Bukit Jelutong vs SA,.....see the main difference?


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PostPosted: Tue 12 Jun 2012 14:45 
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Tun
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Banks+politicians = ahlongs? Wonder if this will cause some banks to be in trouble.

Quote:
A case of banks and bad loans

CT Ali
| June 12, 2012

A press conference later this week is expected to reveal how the Finance Minister had approved banks signing agreements with debt collectors to sell non-performing loans.

COMMENT

A few weeks ago when I was discussing the global financial crisis that happened many years back and the non-performing loans (NPL) resulting from it, a contact asked me a very pointed question.

He asked what if our financial institutions – foreign and local banks – knowingly, and with the collusion of Ministry of Finance (MoF) and those in government, had breached the 1989 Banking and Financian Act (Bafia)?

And what if these banks and the NPL, amounting to billions of ringgits, required the collusion of their lawyers as well?

And what if their criminality was resolved through a political solution which compromises the integrity of MOF and Bank Negara?

Banks in Malaysia have always had problems with NPL. Some banks worked within their own structure to recover the NPL but most banks used debt collection agencies to recover their debts.

Debt collection became a lucrative business and like all things Malaysian, “good business opportunities” have their attractions to the rich, the powerful and the politically connected.

Collusion between those in the banks, debt collection agencies and politicians fed each other. Thugs and gangsters become the enforcement arm necessary to ensure the collection of these debts and as they say, in every cloud there is a silver lining. In the misery of those who were in debts, these agencies thrived.

The banks used these arrangements legally and the debt collection agencies received their remunerations via commissions and fees agreed to between themselves and the banks.

But like in all things under this Barisan Nasional regime, these “arrangements” soon morphed into a situation where the banks “sold” these NPL to the debt collection agencies under sales and purchase agreements – something that Bafia does not allow these banks to do.

One prominent bank did just that. The bank appointed a prominent legal firm to prepare a sales and purchase agreement to sell that NPL to the debt collection agency.

To do this they have to go through a “vesting order” giving the rights of the NPL to the debt collection agency. This, under the Bafia, the bank cannot do.

If the prominent legal firm had knowingly abetted the bank, then the legal firm has done something illegal too.

Many other banks followed in the footsteps of the prominent bank and started selling NPL through the sales and purchase agreements to debt collection agencies, all acting in breach of the law.
http://www.freemalaysiatoday.com/catego ... bad-loans/

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PostPosted: Tue 12 Jun 2012 15:53 
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Penghulu

Joined: Tue 04 May 2010 9:38
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Rebel wrote:
Banks+politicians = ahlongs? Wonder if this will cause some banks to be in trouble.

Quote:
A case of banks and bad loans

But like in all things under this Barisan Nasional regime, these “arrangements” soon morphed into a situation where the banks “sold” these NPL to the debt collection agencies under sales and purchase agreements – something that Bafia does not allow these banks to do.

One prominent bank did just that. The bank appointed a prominent legal firm to prepare a sales and purchase agreement to sell that NPL to the debt collection agency.

To do this they have to go through a “vesting order” giving the rights of the NPL to the debt collection agency. This, under the Bafia, the bank cannot do.

If the prominent legal firm had knowingly abetted the bank, then the legal firm has done something illegal too.

Many other banks followed in the footsteps of the prominent bank and started selling NPL through the sales and purchase agreements to debt collection agencies, all acting in breach of the law.
http://www.freemalaysiatoday.com/catego ... bad-loans/


Not necessarily illegal

Usually the laws in Boleh Land have a powerful 'waiver' clause; where the "menteri ada kuasa untuk memberi pelepasan atas budi-bicara nya" :mrgreen:

Maybe some big-shot banker or lawyer can clarify whether such clause exist in Bafia.


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