Want to list your property for free with more photos!

Hi,

If you are looking for a free property listing website for Malaysia Property and Real Estate You can visit http://www.MalaysiaPropertyListing.com (MPL).

Now, MPL is not officially launched, hence MPL is giving free upgrade bonus to silver agent from a free registered member. For registered member, you are only allow to have 3 listing with unlimited post with this 3 listing. But after upgrade to silver agent, you can post up to 20 listing with unlimited posting of property.

If you are seller, agent, you must consider this website for your business because it allows each listing post up to 10 photos and the potential seller will see all angle of your property. This will increase the chances higher potential buyer contact you as they have seen the property from so many angle and they will ask less question before they visit the actual property.

Other than that, if you are looking property to buy, you can also use this website! You can list what are the property you are looking for to buy and let the seller find you!

Ok, no matter how much I say, do go visit this site, http://MalaysiaPropertyListing.com.

Iskandar Malaysia Attracts Investments Of RM33 Bln

KUALA LUMPUR, June 25 (Bernama) -- The Iskandar Regional Development Authority (IRDA) has to date registered a total of RM33 billion in investments or some 70 percent of the RM47 billion needed for the development of the Iskandar Malaysia economic zone under the Ninth Malaysia Plan, Minister in the Prime Minister's Department Senator Tan Sri Amirsham A. Aziz said.

He said the amount came from the contract agreements and not merely memoranda of understanding signed between IDRA and the investors.

Among the main investors are Kuwait Finance House, Mubadala Development Company and Millennium Development Company who have invested in the financial, real estate, tourism and recreational sectors of the growth zone, Amirsham said during a Question and Answer session at the Dewan Rakyat today.

He was replying to a question from Dr Mohd Puad Zarkashi (BN-Batu Pahat) on the investments received by Iskandar Malaysia.

Amirsham also explained that the government had only contributed RM4.3 billion to finance the infrastructure projects in the region.

He said the amount of investments in Iskandar Malaysia was projected to be RM73 billion during the 10th Malaysia Plan, RM170 billion in 11MP and RM155 billion in 12MP.

From the time it was launched in November 2006, he said the region has achieved commendable performance with various projects completed under the first phase of the Nusajaya development programme including the new state government administrative centre, as well as several commercial, recreational and residential properties.

Projects under the second phase including the development of a transportation hub and ferry terminal are ongoing, he said.

Several infrastructure pojects like new roads have been also completed while the security aspect in the area has been improved with provision made to add the number of police force to prevent crimes in the area, he added.

-- BERNAMA

CapitaLand buys 62% of Sungei Wang Plaza

PETALING JAYA: Singapore-listed CapitaLand Ltd has acquired 61.9% of Sungei Wang Plaza, a popular retail mall sited within the Bukit Bintang shopping precinct, for RM595mil.

The acquisition is the third by CapitaLand, which is planning to set up a pure-play Malaysian retail real estate investment trust (REIT) by the year-end.

StarBiz reported on May 17 that Sungei Wang was attracting the attention of investors that included CapitaLand.

In a statement yesterday, CapitaLand Retail Ltd chief executive officer Pua Seck Gun said that together with the earlier acquisitions of Gurney Plaza and Mines Shopping Fair, the three seed assets collectively amounted to an asset size of about RM2bil.

This would put CapitaLand “firmly on track to create its proposed pure-play Malaysian retail REIT by end-2008”, he said.

CapitaLand said it would pay RM595mil for 61.9% of the total retail strata area, or 510,418 sq ft, as well as car parks of Sungei Wang through an asset securitisation structure.

Under the asset securitisation structure, Sungei Wang will be held by special-purpose vehicle Vast Winners Sdn Bhd, which has issued three tranches of senior medium-term notes, namely class A, B and C, as well as a tranche of subordinated class D medium-term notes.

CapitaLand unit Gain 888 Investment Pte Ltd has fully subscribed to the subordinated class D medium-term notes in the principal amount of RM338mil.

The senior medium-term notes are fully subscribed by a Malaysian financial institution.

“Through our proactive management and by leveraging on our retail real estate management expertise, there are tenancy remixing opportunities to create significant value at Sungei Wang,” Pua said.

Sungei Wang has almost 100% occupancy and draws more than 24 million visitors a year. The 11-storey mall, built in 1977 by Tan Sri Chong Kok Lim, has over 800 retail outlets and 1,300 carparking lots.

SP Setia hurt by high material costs

PETALING JAYA: SP Setia Bhd's net profit for its second quarter ended Apr 30 dropped 19.68% to RM47.99mil from the previous corresponding period mainly due to the escalating costs of building materials.

Revenue was 5.12% higher at RM301.51mil.

In a note attached to its quarterly result, the company said despite the challenging economic and business environment, expansion plans were on track.

Sales for the financial year 2008 (ending Oct 31) so far had remained strong and had hit RM951mil as at May 31, it said.

The company said rising costs remained the key concern and would be dealt with via a review of how contracts were awarded by incorporating cost-escalation clauses.

It added that operations would be restructured to make it more cost efficient while key infrastructure and amenities in the townships that the company was developing would be expedited and improved to “enable justifiable price increases to be passed on to purchasers”.

Aseambankers Malaysia Bhd said in an equity research report dated June 23 that SP Setia faced the twin risks of dwindling buyers' confidence and margin compression, which might cripple earnings growth.

“We conservatively cut our FY09 earnings forecasts by 12% to 19% in anticipation of slowdown in launches and margins pressure,” it said.

It added that with no immediate catalyst amid domestic and external uncertainties, the company's stock price was expected to languish over the next three to six months.

Recently, Real Estate and Housing Developers Association vice president Datuk F.D. Iskandar F.D. Mansor said the residential segment of the property industry faced “challenging times” due to higher oil price-fuelling inflation.

He said contractors were also not keen to take on new projects as they were adopting a wait-and-see attitude.

However, Sime Darby Property senior executive vice-president Datuk Abdul Wahab Maskan was quoted as saying in a report yesterday that despite the escalating costs of construction, the property arm of Sime Darby Bhd would not be deferring launches of new projects.

CapitaLand buys 62 pct of Malaysian mall for $183mln

SINGAPORE, June 25 (Reuters) - Southeast Asia's largest property developer CapitaLand (CATL.SI: Quote, Profile, Research, Stock Buzz) said on Wednesday it had paid S$250 million ($183 million) for 62 percent of a retail mall in Malaysia.

CapitaLand Chief Executive Pua Seck Guan said the latest acquisition puts the Singapore-listed firm on track to set up its Malaysian retail real estate investment trust (REIT) by end of this year.

"Together with the earlier acquisitions of Gurney Plaza and Mines Shopping Fair, the three assets collectively amount to a total asset size of approximately S$840 milion ($614.5 million)," Pua said in a statement.

The retail space in the Sungei Wang Plaza mall is located in the popular Bukit Bintang retail belt in the Malaysian capital of Kuala Lumpur and includes parking lots.

The mall has close to 100 percent occupancy and sees more than 24 million visitors annually.

(Reporting by Yvonne Cheong; Editing by Jennifer Tan)

Perlis Wants To Develop Tourism At Border

KANGAR, June 25 (Bernama) -- Efforts by Perlis to develop tourist destinations like Wang Kelian near the Malaysia-Thai border have been hampered by a ruling last month to restrict free movement.

Tourism Committee Chairman Ahmad Bakri Ali said the state government was discussing with the federal government to relax the ruling imposed on Wang Kelian which is famous for its beautiful landscape.

Replying to a question from Khairi Hassan (BN-Mata Ayer) in the State Assembly here today, he said Malaysians and Thais had for years been commuting freely between Wang Kelian and Wang Prachan.

Perlis was also developing tourist destinations based on agrotourism, ecotourism and food.

Ahmad Bakri said the state planned to develop Wang Kelian, Gua Kelam and Bukit Ayer as an integrated ecotourism destination while the Bukit Temiang Agriculture Complex was slated as an agrotourism site.

The state government would also develop Kuala Perlis into a food destination complete with a 'grilled fish' floating restaurant to be completed by year end.

It would also launch a study tour programme where students would be taken to visit interesting sites and agriculture farms like the harumanis mango, grape, herbs, sugar cane plantation and also the camping site at Gua Kelam.

Ahmad Bakri said Perlis hoped to attract one million tourists by 2010 compared to only 65,000 last year.

Industry and Investment Committee Chairman Datuk Seri Diraja Syed Razlan Jamalullail said the State Economic Development Corporation (SEDC) would develop real estate projects in Padang Besar, Bukit Keteri, Mata Ayer, Bintong and Pauh.

He told Mansor Jusoh (BN-Chuping) the projects were to balance development between urban areas and towns.

Perlis SEDC also planned to develop areas in the vicinity of the Universiti Malaysia Perlis (UniMAP) campus at Pauh with industries, housing and commercial areas.

-- BERNAMA

Contractors asking for price revision of projects

PETALING JAYA: More contractors are asking for a revision in their contract prices following the spike in prices of building essentials.

LBS Bina Group Bhd group managing director Datuk Lim Hock San said the company had been approached by “one or two” of its contractors for a change in the price of its contracts.

“We had to revise upwards the price or they would have run away,” he said, adding that the firm had already started to slow down in its property launches given the current challenging environment.

Meanwhile, Mah Sing Group Bhd group managing director & group chief executive Datuk Seri Leong Hoy Kum said that the company’s launches were “on track.”

“We have been closely monitoring the increase in building material prices over the past year, and have been building ahead of schedule to lock in the construction costs as we foresaw escalating raw material costs.

“Hence, construction of selected projects is at the tail end, and both Mah Sing and our contractors have locked in the old costs,” Leong said.

OSK Research analyst Mervin Chow said: “A lot of property developers have admitted that contractors have been coming to them, asking for changes to be made to their contract prices, given rising costs. It is a bit of a worrying situation right now.”

Chow said that while these “re-negotiation” processes had started two to three months ago, it was more pronounced now, given the added pressure of the recent hike in fuel price.

The price of steel, one of the main raw materials for property players for example, has almost doubled year-on-year to around RM3,600 per tonne currently.

Strong demand from China and the Gulf Cooperation Council region has helped push up prices thus far.

Contractors’ overall costs are said to have gone up as much as 28% to date.

TA Securities property sector analyst Kamarul Zaman Hassan said it was inevitable that re-negotiations of contract prices would occur, given the rise in raw materials, such as steel and cement.

“Yes, the contractors would definitely ask to re-negotiate. They are likely to ask for variation orders (VOs) to cover the rise in raw material prices,” he said.

Both developers and contractors would share the burden of rising costs in the case of ongoing projects, he said, adding: “For the new projects, it is very likely that the developer is the one which has to bear the higher building costs.”

Should contractors be unable to obtain VOs, the possibility of projects being abandoned will be high, in particular if smaller contractors – who do not have the financial strength to absorb higher raw material prices – are involved.

“And yes, obviously developers involved in new projects cannot stomach the rise in building materials and will be passing it on to customers,” Kamarul said.

Analysts had warned that certain property segments, i.e. those priced below RM250,000, were very price sensitive, meaning higher prices would see an erosion in demand.

“This puts developers in a very delicate situation. As we can see, many developers are already thinking about postponing their launches,” Kamarul added.

Having said that, higher-end office and commercial developers are still expected to enjoy brisk sales despite higher selling prices.

“The impact really depends on the company’s products,” he said.

Meanwhile, Ng Sem Guan who covers the steel sector at OSK Research feels that it is not a necessity to stockpile steel.

“The Government will need warehouses for this purpose. Basically, there is a lot of money involved to stockpile,” he said, adding the steel price would at most rise 20% and expecting it to hit RM5,000 per tonne “is a bit too much.”

Ng said at current prices, there was still some upside, probably up to 20%.

“But it (steel price) goes through a cycle, it will reach a point when it has to come down,” he added.

Last week, Master Builders Association Malaysia president Patrick Wong urged the Government to stockpile steel to stabilise the rising cost of steel products.

He said the proposal came in the wake of steel millers expecting prices of steel bars to hit RM5,000 per tonne.

By The Star