Mah Sing eyes more commercial developments in Sg Besi

PROPERTY developer Mah Sing Group Bhd is keen to do more commercial developments in Sungai Besi, Kuala Lumpur, as the location is the latest commercial hub, says its top official.

Business Times was made to understand that there was still commercial industrial land in the vicinity that could be used for development although the total hectarage was not known.

"If the opportunity permits, we are definitely thinking of developing this area, riding on our branding and track record to expand further," group managing director and group chief executive Datuk Seri Leong Hoy Kum told reporters after the groundbreaking ceremony for Mah Sing's Southgate development, located along Jalan Sungai Besi, on Saturday.

While Mah Sing wants to increase its landbank in Sungai Besi, the developer is not in a hurry to make a purchase.

"Whatever land we buy, we want to ensure we look out for shareholder value and the market must be able to absorb the demand," Leong said.

On Southgate, en bloc sales for its Apex Block and Corporate Building are expected to be finalised by the year-end.

"We have interest from private investors and also equity funds because there are very few freehold land (areas) in Kuala Lumpur to buy," deputy chief operating officer Andy Chua said.

Interested parties include those from the Middle East, Singapore and South Korea.

The three remaining blocks of Southgate - Vox, Vivo and Verve - offer office suites and retail lots.

More than 80 per cent of Vivo has been taken up, while Vox and Verve are seeing about 50 per cent take-up each.

Chua said the rental yield was estimated to be eight per cent, but added that he expected it to increase because of growing demand for good freehold office space in Kuala Lumpur and the insufficient supply.

"Also, with construction cost going up, there will be good potential for capital appreciation in future," he said.

On Mah Sing's performance, Leong said it was on track to hitting its RM560 million sales target for the year.

"Having locked in unbilled sales of RM1 billion and another RM3 billion gross development value (on remaining projects), this can last us for the next five years even without our acquiring new land," he said.

Source:Business Times

Asean Property Overview

Buying property in Malaysia is an excellent way of generating income. Out of the popular foreign property markets, Malaysia offers an exciting blend of beauty, culture, history, nature and environmental friendliness. The Malaysia property market is matured: you can own a house designed as a retirement home, a holiday home and/or a second home, or a permanent home.

Malaysia is known for its diversity and there are eleven official languages spoken throughout the country. However English is the most commonly spoken language in business circles. Malaysia is a warm and hospitable country, both in climate and friendliness – the community is keen on welcoming foreign nationals to their country. The country is home to a unique landscape: there are pristine beaches, dense forests, and beautiful mountains.

So, Why you should by property in Malaysia?


* The Malaysia property market will sharply growth and then boom with the government vision 2020. Property economists have predicted an 90% increase in property prices until 2020!


* There has been a strong demand for rental properties, so buying sooner rather than later will maximise the capital growth of your property investment.


* The natural attractions of Malaysia make this an investment you can enjoy. It’s a country of huge variety, offering something for everyone: magnificent beaches, beautiful unspoiled countryside and an abundance of stunning wildlife.


* The Malaysia property market is a magnet for international investors looking at property to buy abroad (including thousands of purchasers from the australia and singapore). Apart from the natural attractions, Malaysia has excellent shopping and banking facilities, roads, airports and other infrastructure, with English being the main and commonlylanguage throughout the country.


In conclusion, when buying property, Malaysia not only offers a exotic luxury property investment market, but can offer property investors with year round summer temperatures, exciting green town and an affordable lifestyle.

Article Source: TimesPR NewsWire | Free Article Directory | News Release

Malaysia House @ Condominium

Kuala Lumpur: condo market continues to be a headlines today. The property prices for a condominium keep rocketing by early 2003. And it appears that this year will be the 5th consecutive record-making year in terms of rising Malaysia condo prices and the number of condo sales, with median condo price tags still above those for single-family homes to all Malaysian.

Today, most property in Kuala Lumpur and surrounding area comes with beautiful and extra facilities. It is the same what Symphony Heights@ Selayang offer to you. Ultimately, what I can say these markets are the hottest and upcoming market trend. From what we have experience, While high condo price appreciation and new condo construction can identify currently active condo markets, heavy condo construction could slow price appreciation over time. It also will make new construction and price appreciation have an inverse relationship, basically because of the possibility of supply overpowering demand.

So, I personally recommending you all to buy Symphony Heights @ Selayang as your first property plan.

Why Symphony Heights @Selayang?

Remember, the lower investment (Cash) you use to buy property, is more value to your investment. Hurry! in Symphony Heights Selayang the entry budget is only RM500 to own your virgin property.

This is your great opportunity to own property while it stay below market price. Once the property keep growing, you won't see any affordable property like this any near Kuala Lumpur.

Wanted to learn more about property investment and future development @Selayang? Please contact Symphony Heights project sale executive directly by call or SMS to +6013.291.4402 Mr. Helmi @ Symphony Heights show unit gallery

Kuala Lumpur Residence Selayang Malaysia

Kuala Lumpur Residence (KL Apartment) @ Selayang, Malaysia

Chan Ai Cheng with a model of Symphony Heights.

HUA YANG Bhd may be a medium-sized property development company but it is generous when it comes to pampering its purchasers.

This is evident with its latest project, the Symphony Heights serviced apartment in Selayang.

It is offering six practical layouts, quality finishes and condominium facilities such as free-form swimming pool, poolside cafeteria, gymnasium and multi-purpose hall from only RM135,200.

S.K. Brothers Realty (M) Sdn Bhd general manager Chan Ai Cheng said the project had attracted more than 600 registrants, and close to 50 units had been booked just through soft selling and word of mouth.

“We expect good take-up in view of the attractive price and fantastic location after marketing begins shortly,” she said, adding that the preview launch would be July 6 to 8.

S.K. Brothers is the exclusive agent for Symphony Heights that is located off the Batu Caves roundabout, at the Middle Ring Road 2 (MRR2) and Jalan Ipoh interchange.

The leasehold project, with a gross development value of about RM160mil, comprises 946 units of serviced apartment in three blocks of 29, 30, and 33 storeys.

Phase 1 layout will include units of 863 sq ft (two bedrooms), 879 sq ft, 950 sq ft (three bedrooms) and 1,246 sq ft (3+1 bedrooms).

Chan said Symphony Heights was easily accessible to the Kuala Lumpur city centre and other parts of the Klang Valley via Jalan Ipoh and MRR2 connecting to the Damansara-Puchong Highway, Karak Highway, New Klang Valley Expressway, Elevated Highway, North-South Expressway, and Kuala Lumpur-Shah Alam Expressway.

“It is within an established neighbourhood with plenty of amenities such as hypermarkets, shopping centres, hospitals, schools, banks and entertainment and good outlets,” she said.

The project is next to the SRJK (C) Kheow Bin Batu Caves and is behind Hua Yang's earlier project, Medan Selayang (six and eight-storey shop offices) that was completed in 2005 and is almost sold out.

“It's the best value-for-money property at Selayang's finest location,” said Chan, adding that residents of Symphony Heights could also enjoy panoramic views of the Kuala Lumpur city skyline and the Selayang/Templer Hills.

Hua Yang chief operating officer Ho Wen Yan said there would be a 10% “early bird” discount, no legal fee charged for the sale and purchase agreement and RM500 down payment during the promotional period for the first launch of 544 units.

“Symphony Heights is located in a fast-growing area with direct access to the MRR2. We have designed it to cater to end-users,” said Ho, adding that the Phase 1 units had a north-south orientation, modern contemporary design and are rectangular in shape, allowing maximum use of space.

The price of a 1,246-sq-ft unit is about RM216,000 (before 10% rebate).

S.K. Brothers chief executive officer Charlie Chan said people should buy a unit at Symphony Heights, as it is not even 10% of the price of some high-end condominiums in the city centre. “And yet, this project is so accessible to the city,” he said.

Hua Yang, listed on the main board of Bursa Malaysia, was incorporated on Dec 28,

Its other ongoing projects include Taman Pulai Indah in Johor as well as Bandar Universiti Sri Iskandar and Metro Pengkalan in Perak.

Most of its previous projects are in Perak involving terrace houses, shops and light industrial factories. Its Ipoh projects include those at Taman Mewah in Tambun; Taman Tasek Mewah, Taman Pinji Wani, Taman Pinji Seni, Anjung Bercham Megah and Anjung Bercham Elit in Bercham; and some projects in Batu Gajah.

In Selangor, Hua Yang's completed projects include Taman Serdang Raya in Serdang, S.B. Jaya Industrial Park, Taman Setapak Jaya in Kuala Lumpur, and Jalan Connaught Bridge in Klang.

By The Star (by S.C.Cheah)

For more information or personal tour please contact Symphony Heights project sale executive directly by call or SMS to +6013. 291. 4402 Mr. Helmi @ Symphony Heights show unit gallery.

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Kuala Lumpur Residence (KL Apartment) @ Selayang, Malaysia

What does an audit report contain

Most audit reports on financial statements give the business a clean bill of health, or a clean opinion. At the other end of the spectrum, the auditor may state that the financial statements are misleading and should not be relied upon. This negative audit report is called an adverse opinion. That's the big stick that auditors carry. They have the power to give a company's financial statements an adverse opinion and no business wants that. The threat of an adverse opinion almost always motivates a business to give way to the auditor and change its accounting or disclosure in order to avoid getting the kiss of death of an adverse opinion. An adverse audit opinion says that the financial statements of the business are misleading. The SEC does not tolerate adverse opinions by auditors of public businesses; it would suspend trading in a company's stock share if the company received an adverse opinion from its CPA auditor.

One modification to an auditor's report is very serious - when the CPA firm says that it has substantial doubts about the capability of the business to continue as a going concern. A going concern is a business that has sufficient financial wherewithal and momentum to continue it normal operations into the foreseeable future and would be able to absorb a bad turn of events without having to default on its liabilities. A going concern does not face an imminent financial crisis or any pressing financial emergency. A business could be under some financial distress but overall still be judged a going concern. Unless there is evidence to the contrary, the CPA auditor assumes that the business is a going concern. If an auditor has serious concerns about whether the business is a going concern, these doubts are spelled out in the auditor's report.