junior's toks

Property Wah...Sigh

Major role in property for MRCB
Once a conglomerate with diversified interests in construction, Telecommnications, energy related activities, property, media and financial services MRCB's lack of business focus plunged it into massive debt problems at the height of the financial crisis in 1998. In an interview with StarBiz Angie NG, MRCB group MD and CEO Shahril Ridza Ridzuan says brighter days are ahead. MALAYSIAN Resources Corp Bhd (MRCB) is all geared up to take advantage of the current robust property run-up a year after a massive corporate and debt restructuring exercise that resulted in a lean and focused group.

If you are working in the KL city or you travel to KL from whereever your are. You see property developments EVERYWHERE. Berjaya Group is building (Jalan Ampang), SP Setia is building (North Hammoth), MK Land is building (Damansara), Sunrise is building (Mount Kiara), Sunway is building (Mount Kiara and Sunway) , Tan and Tan is building (PJ and Ampang), Boustead is building (wei, the Curve should be ready anytime soon, a new place to shop lor), Kumpulan Emas (Semantan Height leh) is building, I&P is building (Jalan Tun Razak), Bandaraya Bhd is building (Capital Square), KLCC is building (KLCC lor). Every Tom, dick, harry, suzie and helen is building.

Don't tell me there is no oversupply issue in Malaysia.

That is why I find Malaysian developers facinating. During the down time, NONE of them build anything. When there is a glimps hope of recovery, EVERYONE rushes into the market and build build build.

My mum always says 'Wei, like that how to make money!!!!!!'

Do you know how many luxury apartments there are in KL (ahem, luxury means anything more than RM 600 psf) (cough * I have none). The last time I counted, there were about 1,700 units (bugger, I did not count lah, I read a report la). Do you know how many units are in the pipeline now?

Dang Dang Dang Dang ....4,500 units are coming out in the next 2-3 years.

Like that how not to die? (U understand my english ah?) ok ok, I try once more, Like that die lah....(better?).

Do you know why our developers are like that? Because they don't spend much on research. They want to save RM 100k when they have a multi millions project. Or they think they know the market. They think that they can build a better products and people will buy from them instead of their competitors. They think they are the market. They think people will buy whatever they build. They think that they should have a swimming pool in every condo project. They think as long as they build it in damansara, they will sell all units.

They are naive.

They are a few things which we could do to teach these buggers:-

1. Sell all your property counters
2. Don't buy any property counters. Let their share price drops like hell (as if there are so many of us)
3. Don't buy any property (except buying my unit in Pandan Height and Bukit Jalil)
4. If you have no choice but to buy a units.....er.....er......still dun buy anything and wait.

These buggers need a lesson. They cannot lead us to another recession again.

Basket.

Junior

posted by Junior @ 2:33 PM