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31 July 2014

MH17: Bullet Holes & Fighter Jet

Might not be a missile after all... those really do look like bullet holes. Possibly shot down by a fighter jet.

Also, remember those early videos? If you look at them again, notice that the plane did not have a smoke trail while it was crashing. The plane exploded upon impact to the ground. Strange.

Losing 2 aircrafts under mysterious circumstances 4 months apart must be a record of sorts.

Some party is obviously targetting Malaysia? The Government of Malaysia must not let the country continue suffering fools.








NEW MH17 SENSATION: German experts point finger at Ukrainian air-force jets.

This is what a German pilot-cum-air technology expert Peter Haisenko has just published on the subject of the MH17 disaster (my emphases):

‘The misfortune of the Malaysian MH 017 is known to all. The flight recorder is in England and is being evaluated. What can come of this? May be more than you want to accept….if you look at the image of Cockpit-Fragments, this picture is certainly shocking.

Entry And Exit holes from bullets in the area of the Cockpit. This is not speculation, but analysis of clear facts: the cockpit shows clear evidence of bullet holes. You can see the entry holes and some exit points. The edges of the bullet holes are bent inwards, these are much smaller and round in shape. A 30mm calibre. The exit holes are less well formed and the edges are torn outwards. Furthermore it is visible that the exit holes have torn the double aluminium skin and bent them outwards. That is to say, splinters from inside the cockpit blew through the outside of the cabin. The open rivets have also been bent outwards….There is only one conclusion one can make, and that is that this: the aircraft was not hit by a missile. The damage to the aircraft is exclusively in the cockpit area….


Armour-Piercing Ammunition.
Russia has published radar data that a Ukranian SU 25 was close to MH 017. this corresponds with Spanish air traffic control that two Ukranian fighter aircraft were in direct contact with MH 017. Examine the weaponry of the SU 25: it is fitted out with a 30mm cannon Type GSch-302 /AO-17A, with 250 rounds of splintering exploding bullets on a belt – shrapnel rounds. The cockpit of MH 017 was hit from TWO sides, as there are entry and exit holes on the same side….’ Very compelling stuff, is it not?

Now read this (also German) article by defence expert Bernd Biederman, who offers equally sound reasons why the shooting down could NOT have been from a surface to air missile:

“.the shooting down of the Malaysian Boeing on July 17 in the Eastern Ukraine “could not have been hit by a surface to air defense missile” .

This is the assessment of retired Colonel Bernd Biedermann in an article for the daily newspaper published in Berlin “new Germany” (Thursday edition). Had splinters from a surface to air missile hit the plane, it would have immediately caught fire, argues the NVA anti-aircraft missile specialist. His reasoning is because of the “enormous frictional heat that the splinters generate on penetrating the fuselage. A single splinter contains the same kinetic energy as a 40-ton freight car hitting the buffers at 60 kilometers per hour.” In the case of the Malaysian Boeing, scattered fires had broken out after the impact with the ground, because hot debris from the aircraft had come in contact with combustible materials.

Biedermann is familiar with Soviet and Russian air defense technology, he led units in the duty officer system in East Germany and taught at the Military Academy in the field of anti-aircraft missile troops.’

Articles are beginning to appear across the Web to the effect that Angela Merkel is disturbed by (and growing tired of) the incessant US propaganda being emitted in favour of its energy agenda….and so we must perhaps in turn view these articles in the light of her alleged new agenda concerning the creation of an alternative bloc to that of America.

But spin or not, these analyses make sense. The US State Dept has now shifted its position from ‘Russian atrocity’ to ‘tragic accident’. The above opinions suggest that neither are true: they suggest strongly that the Ukrainian air force took out MH17.


18 July 2014

Malaysia Airlines MH17 shot down in Ukraine





Live Updates:
http://live.reuters.com/Event/World_News
http://www.telegraph.co.uk/news/worldnews/europe/ukraine/10974050/Malaysia-Airlines-plane-crashes-on-Ukraine-Russia-border-live.html
http://www.theguardian.com/world/2014/jul/17/malaysia-airlines-plane-crashes-ukraine-live

Warning: (Graphic Photos)
http://www.thegatewaypundit.com/2014/07/horrific-scenes-from-mh17-crash-site-photos/ 

Twitter #mh17
https://twitter.com/hashtag/mh17

Early reports:

  • Boeing 777 from Amsterdam to Kuala Lumpur
  • Shot down by a ground-to-air missile
  • 280 passengers and 15 crew have been killed
  • At least 22 bodies at wreck site, according to an AP journalist, as more verified images come through the wires agencies.

This is absolutely shocking & devastating. MH370 now MH17... Malaysia lost 2 planes in a year! And we still couldn't find MH370 despite the grand show! What is going on? I don't believe it is just coincidence!

This could be the end for some, or the beginning of something.

Condolences to the families of the passengers & crew.


Early Pictures:




















Malaysia Airlines statement on MH17 crash in Ukraine

Published on Jul 18, 2014 12:55 AM

Malaysia Airlines has issued a statement on MH17 which was reportedly shot down over eastern Ukraine.

The full statement as follows:

"Malaysia Airlines confirms it received notification from Ukrainian ATC that it had lost contact with flight MH17 at 1415 (GMT) at 30km from Tamak waypoint, approximately 50km from the Russia-Ukraine border.

"Flight MH17 operated on a Boeing 777 departed Amsterdam at 12.15pm (Amsterdam local time) and was estimated to arrive at Kuala Lumpur International Airport at 6.10am (Malaysia local time) the next day. The flight was carrying 280 passengers and 15 crew onboard."
- See more at: http://www.straitstimes.com/news/asia/south-east-asia/story/malaysia-airlines-statement-mh17-crash-ukraine-20140718#sthash.maYCoiUI.dpuf



Bodies and wreckage found near Grabovo

Dozens of bodies and broken pieces of wing with MH17 colors have been found near the town of Grabovo, according to a Reuters correspondent.
Dozens of bodies were scattered around the smouldering wreckage of a passenger jet that crashed in eastern Ukraine on Thursday, a Reuters reporter said.
An emergency services rescue worker said at least 100 bodies had so far been found at the scene, near the village of Grabovo, and that debris from the wreckage was scattered across an area up to about 15km (nine miles) in diameter.
Broken pieces of the wings were marked with blue and red paint – the same colours as the emblem of the Malaysian airline which lost track of a flight from Amsterdam to Kuala Lumpur that was carrying almost 300 people.
http://www.theguardian.com/world/2014/jul/17/malaysia-airlines-plane-crashes-ukraine-live



Ukraine says Malaysian airliner shot down, 295 dead: agency


(Reuters) - A Malaysian airliner was shot down over eastern Ukraine by militants on Thursday, killing all 295 people aboard, a Ukrainian interior ministry official was quoted as saying by Interfax-Ukraine news agency.

The aircraft, which other sources said was a Boeing 777 flying from Amsterdam to Kuala Lumpur, came down near the city of Donetsk, stronghold of pro-Russian rebels, Anton Gerashchenko said, adding that it was hit by a ground-to-air missile.

There was no further confirmation of the report, although Ukrainian officials said local residents had found wreckage.

Malaysia Airlines said on its Twitter feed it had lost contact with its flight MH-17 from Amsterdam. "The last known position was over Ukrainian airspace," it said.

Gerashchenko was quoted as saying: "A civilian airliner travelling from Amsterdam to Kuala Lumpur has just been shot down by a Buk anti-aircraft system ... 280 passengers and 15 crew have been killed."

Interfax-Ukraine quoted another Ukrainian official as saying the plane disappeared from radar when it was flying at 10,000 metres (33,000 feet), a typical cruising altitude for airliners.

It came down at Torez, near Shakhtersk, some 40 km (25 miles) from the Russia border. The area has been the scene of fighting between Ukrainian troops and pro-Russian rebels.

Ukraine has accused Russia of taking an active role in the four-month-old conflict in recent days and accused it earlier on Thursday of shooting down a Ukrainian fighter jet - an accusation that Moscow denied.
- http://www.reuters.com/article/2014/07/17/us-ukraine-crash-airplane-idUSKBN0FM1TU20140717


Malaysia Airlines plane crashes on Ukraine-Russia border - live

Malaysia Airlines flight MH17 has crashed in Ukraine, on the border with Russia, with 295 people onboard. Ukraine's interior ministry says the plane was shot down by a missile.

17.38 The apparent crash of this Malaysia airlines jet already has people thinking of Korean Airlines Flight 007, which was shot down by the Soviet Union in 1983. All 269 passengers were killed, including an American congressman, when the flight was shot down by a Russian fighter jet after flying into Soviet airspace.
The Kremlin initially denied having anything to do with the incident but later admitted to its role, saying the passenger jet was on an American spying mission.

17.27 A key question over the next few hours and days will be who fired the missile - if it was a missile that downed the jet.
 - http://www.telegraph.co.uk/news/worldnews/europe/ukraine/10974050/Malaysia-Airlines-plane-crashes-on-Ukraine-Russia-border-live.html

17 July 2014

Kuantan Woman Road Bully



The incident happened in a parking lot in Kuantan. Many viewers expressed their disapproval after viewing the violent footage peppered with racially prejudiced remarks. It was only a minor accident which could have been settled amicably, but instead, the woman decided to take matters into her own hands, and displayed her uncouth behaviour to the world.

When everyone has calmed down, we will see what a sad state our society has become.

In the video, we can observe a few things:

1. Road rage is becoming more prevalent in this country.
2. Women drivers are getting more and more aggresive.
3. On-lookers' apathy even when seeing the elderly man being threatened.
4. Her remarks, "You think you are Chinese, you think you are better than us! You are very stupid!" and "Dia Cina, saya tahu...." shows her prejudice towards the Chinese community and probably thinks that the elderly man did it on purpose.
5. Her remarks bears a striking similarity to the type of speech dispensed by some politicians, NGOs and the likes.

Many a true word is spoken in anger. The reality is, her words echo the views many Malays have towards the Chinese. Many from the Chinese community too, hold similar prejudices towards the Malays. It seems like Malaysians pass on such prejudices from one generation to the next.

Anyway, young adults should try not to let emotions cloud their judgements. Some mistakes could ruin your life and your future.



Young woman attacks elderly man's car with steering lock after accident

PETALING JAYA: An enraged woman spewed verbal abuses and repeatedly hammered an elderly man’s vehicle with a steering lock after he accidentally hit her brand new Peugeot.

A video of the incident which occurred in Kuantan was uploaded onto Youtube and instantly went viral.

In the footage taken by a nearby motorist, the screaming assailant called the man ‘very stupid’ and hurled racist remarks. She also demanded that he pay RM2,000 in compensation.

The elderly man remained calm despite the woman’s outburst and offered to pay the damages, repeating that accident was unintentional.

“You don’t have to do that,” he was heard saying. He also said that the woman had taken his keys and refused to return them.

The woman was recorded telling passers-by to call the police.

Netizens incensed at the unnecessarily violent tantrum and rude behaviour, exposed the woman’s identity, contact details and Facebook account, including information of the bridal company where she allegedly works in.

This further attracted a flurry of criticism and angry retaliatory remarks on the woman’s personal pages. The Facebook account has since been deactivated.

Her car plate number is also now public knowledge.

Youth and Sports Minister Khairy Jamaluddin has spoken out against the cyber-mob, urging them to refrain from taking actions into their own hands.

“We can criticise her actions, but naming, shaming & cyber bullying her just makes you the same. CDM25,” he wrote via his official Twitter account @Khairykj. - http://www.thestar.com.my/News/Nation/2014/07/16/Road-rage-in-Kuantan/



Kuantan road bully apologises to victim


PETALING JAYA: The woman who allegedly spewed verbal and repeatedly hammered an elderly man’s vehicle with a steering lock after the latter accidentally hit her brand new Peugeot, has apologised to the victim.

“Please spread the words of my sincere apologies to all Malaysians about my actions. That's not my intention. That's my personal mistakes and anger. I’m alone to be blame in this event,” she said on her Facebook page, adding that the bridal company she works at had nothing to do with the incident.

A screenshot of a text message from a police officer was also posted. The officer had requested the woman’s presence at the Puchong police station to record a statement.

“There is time in your life that you should forgive others,” said the woman, in response to tweets she had received after a video of the incident went viral.

“I just want people to remove all my videos. Respect my privacy and consider this thing happen to your family,” she said.

In another post, the woman said she would be meeting the victim in the video soon. She said she would also be changing her car plate number (CDM 25), which has become public knowledge and has resulted it’s own trending hashtag on Twitter.

The elderly man, affectionately nicknamed “uncle” by Netizens, will not be pressing charges.

Although traumatised, the victim decided to not take action after receiving strong support from Malaysians of all races and backgrounds, his son Robin Sim said when contacted by The Star Online through Facebook.

Police however, will be investigating the matter as it is classified as a road bullying incident, said Inspector-General of Police Tan Sri Khalid Abu Bakar.

A video of the incident, which occurred in Kuantan, was uploaded onto YouTube and instantly went viral.

In the footage taken by a passing motorist, the screaming assailant called the elderly man “very stupid” and hurled racist remarks at him. She also demanded that he pay RM2,000 in compensation.

She repeatedly hammered the man’s vehicle with a steering lock.

The man remained calm despite the woman’s outburst and offered to pay for the damage.
Netizens incensed at the unnecessarily violent tantrum and rude behaviour, exposed the woman’s identity, contact details and Facebook account, including information of the bridal company where she works. - http://www.thestar.com.my/News/Nation/2014/07/16/Kuantan-road-bully-apologises-to-victim/

12 July 2014

Higher Interest Rates & Affordable Housing



Bank Negara announced that the Overnight Policy Rate (OPR) would be increased by 25bps, translating to an increase of the BLR from 6.6% to 6.85%.

I don't think Bank Negara have any choice but to raise interest rates, especially to curb inflation, at 3.4% forecasted for this year as well as to control excessive speculation. Gradual increases would stabilise the markets and protect the wealth of the people.

Currently, the FD rate among the local banks hover between 3.1% and 3.2%. Savings rates are a dismal 0% to 2.5% depending on the amount of deposits. Anything below 100k will likely give you up to a maximum of 2% at today's rates. In short, keeping money in the bank earns you pittance.

OK. Back to housing loans.

Looks like DAP is pretty quick to object.

New rate hike could bury hopes of would-be homebuyers, says DAP 

  • The central bank’s move to increase interest rates will further burden prospective buyers already struggling to finance their first homes unless measures are introduced to cushion its effects, DAP secretary-general Lim Guan Eng said today.
  • Lim suggested that Putrajaya reintroduce the Developer Interest-Bearing Scheme (DIBS) for affordable houses as a measure to help first-time buyers to purchase the homes.
  • common grouse from first-time buyers was the difficulty in securing financing for their intended homes
  • over two in three loan applicants for affordable housing costing below RM400,000 were rejected
  • You can’t give the same conditions and interest rates to a buyer of a RM1 million house as someone buying a RM40,000 house says Jagdeep Singh Deo

I think DAP is missing the point in their criticism regarding the rise of interest rates. I also find that they are not being honest in their excuses. Blaming a .25% increase in BLR to the problem of unaffordable housing is a poor excuse.

Is DAP speaking up for the buyers or the developers? The root of the problem is the price!

1. RM400k - Whoever came up with the figure of RM400k as affordable housing clearly does not belong to the group that needs affordable housing. Who came up with this figure anyway? I'll hazard a guess that it would most like be the developers! RM400k IS NOT affordable to the lower income! RM40k is affordable. 100k-200k is still affordable. The simple reason why so many from this group could not get their loan applications approved is because they can't afford it!

2. The way I see it, state governments are not doing their part. Instead of earning revenue by selling state lands at a premium to developers who then build expensive luxury properties, the state should instead allocate some land specifically for affordable housing. Are you telling me that the developers can only build them at RM400k per unit?

3. Developer Interest-Bearing Scheme (DIBS). DIBS is the main contributing factor that led to speculation. Those who could not afford RM400k houses should buy cheaper ones. If they can't even service the interest during construction, how are they going to pay the installments when their houses are ready? Moreover, developers would have marked up the selling price of the property to include the interest charges. If they abandon their projects, the buyers still need to repay the loan plus the interests. 

Providing housing for the people is one of the responsibilities of governments.

4. What happens to the low income then? Banks won't lend to them because they actually could not afford a RM400k property? Some would be able to afford 100k houses, even 200K. I don't think those with a household income of less than RM6k should take up a 400k loan. Those with kids and compounded by the rising cost of living, rising interest rates, GST, removal of subsidies for fuel, etc... will face problems servicing their loans.

The low income group needs public housing, which happens to fall under the purview of state governments. I'm not seeing any of these being built.

Instead of DIBS, perhaps the developers & state government should build first, then sell, so that buyers only start servicing their loans when the houses are delivered. All the buyer has to do is come up with a 10% deposit, and their loans are only activated upon delivery. Now, that will be a "people-friendly" policy!

The Federal Government should do their part as well by drawing up better laws to protect the buyers, especially in cases of abandon projects, material quality and specifications.

And lastly... RM400k is NOT AFFORDABLE housing!

Only those who belong to the HIGH INCOME group would think RM400k is affordable!





New rate hike could bury hopes of would-be homebuyers, says DAP


GEORGE TOWN, July 11 — The central bank’s move to increase interest rates will further burden prospective buyers already struggling to finance their first homes unless measures are introduced to cushion its effects, DAP secretary-general Lim Guan Eng said today.

Opposing the interest rate hike announced yesterday, Lim suggested that Putrajaya reintroduce the Developer Interest-Bearing Scheme (DIBS) for affordable houses as a measure to help first-time buyers to purchase the homes.

“Reinstating the DIBS for houses below RM400,000 would benefit first-time buyers and promote housing democracy,” he said in a statement issued today.

DIBS is a form of interest capitalisation Scheme (ICS) where interest costs are capitalised or built into the sale price, instead of being paid by the borrower as they are incurred.

The government prohibited DIBS at end of last year to curb speculation on properties.

The Penang chief minister said the reintroduction of DIBS would alleviate the pressure on homebuyers arising from the rate increase.

“This allows buyers to purchase their houses by paying 10 per cent and giving them breathing room by not paying interest payments and rent at the same time whilst waiting for their houses to be completed,” he said.

Saying that a common grouse from first-time buyers was the difficulty in securing financing for their intended homes, Lim asserted that Bank Negara Malaysia’s move yesterday would further exacerbate the problem.

Yesterday, Bank Negara raised the overnight policy rate (OPR) by 25 basis points to 3.25 per cent, the first such increase in three years.

The OPR determines interbank loans and affects other interest rates such as the base lending rate (BLR) and other interests on consumer banking services including home mortgages.

State executive councillor for housing development Jagdeep Singh Deo also expressed concern on the difficulty for new homebuyers in getting loans for affordable houses, saying this nullified efforts to build more units to alleviate spiralling home prices in the state.

“I appeal to the government, Bank Negara and the banks to come up with a programme or scheme just for first-time buyers of affordable housing because it is pointless for the state to be building affordable homes when they can’t get loans to buy the homes,” Jagdeep said at a press conference at his office today.

He said over two in three loan applicants for affordable housing costing below RM400,000 were rejected.

“This means, out of 10 applicants, only three get loans so how can the lower income group buy their own homes if they can’t even get loans?” he asked.

In a parliamentary reply to Lim on the issue, the Finance Ministry revealed that a total 50,224 loan applications worth a total RM10.3 billion were approved to buyers of affordable housing costing below RM400,000 for the first four months of this year.

However, a total 34,662 applicants for loans amounting to RM7.3 billion were rejected within the same period.

Last year, a total 170,886 loan applications for houses below RM400,000 amounting to RM34.5 billion were approved while 120,291 applications amounting to RM24.8 billion were rejected.

The ministry said that the applicants were rejected because they do not fulfil borrowing requirements that include their income, unsatisfactory credit record with high debts or financial commitments.

It added that the banks did not approve loans to those who fell short of requirements to avoid borrowers from falling into deeper debts that they could not pay.

Today, Jagdeep said the interest rates and loan application process should not be applied across the board for all borrowers as it would highly disadvantage the lower income group.

“You can’t give the same conditions and interest rates to a buyer of a RM1 million house as someone buying a RM40,000 house,” he said.

He added that all buyers of low cost and low medium cost housing were thoroughly vetted for eligibility so there is no question of them misusing any special loan schemes that could enable them to purchase their first homes.

The federal government formed Syarikat Jaminan Kredit Perumahan Bhd (SJKP) in 2008 to encourage people to buy their own homes.

The SJKP provides financial guarantee to loans given out to buyers of low and low medium cost houses costing below RM100,000 but as at March this year, only 3,684 applicants obtained the financial guarantees from SJKP.




Bank Negara ups OPR for the first time since 2011


PETALING JAYA: Interest rates are set to rise with Bank Negara having raised the benchmark overnight policy rate (OPR) by 25 basis points (bps), or 0.25%, to 3.25% as part of measures to curb rising household debt.

The hike was within most economists’ expectations after the broad hints given in the last monetary policy statement in May, in which policymakers had expressed concerns over the continued build-up of financial imbalances....... - http://www.thestar.com.my/Business/Business-News/2014/07/11/Bank-Negara-ups-OPR-for-the-first-time-since-2011/




Maybank to revise deposit, lending rates on Wednesday


KUALA LUMPUR: Malayan Banking Bhd will revise its deposit and base lending rates effective July 16, in tandem with the 25 basis points increase in the Overnight Policy Rate (OPR).

It said on Friday its deposit rates will be revised upwards by up to 15bps.

Maybank's base lending rate (BLR) and base financing rate (BFR) would be increased by 25 basis points from 6.60% per annum to 6.85%.

Its last revision in BLR and BFR was on May 11, 2011 when they were revised from 6.30% to 6.60%. - http://www.thestar.com.my/Business/Business-News/2014/07/11/Maybank-to-revise-deposit-lending-rates-on-Wednesday/





‘New OPR will have little impact’


PETALING JAYA: An increase of 0.25% in the overnight policy rate (OPR) will not have a significant impact on borrowers for low-cost and affordable housing priced between RM45,000 and RM450,000, according to a senior executive of a real estate agency.

VPC Realtors (KL) Sdn Bhd director James Wong said there would only be an estimated marginal increase of RM5 to RM53 per month in loan repayment compared to the previous interest rate for a 30-year tenure with a 20:80 margin (see chart).

“As for high-end residential properties, most buyers are either cash buyers or they buy with a minimum loan margin. Hence, an increase of 0.25% per annum will be insignificant,” he added.

Bank Negara has raised the benchmark overnight policy rate by 0.25% to 3.25%, the first rate hike since June 2011.

Mortgage rates are based on the base lending rate (BLR) which in turn is correlated to the central bank’s OPR.

Wong felt that speculators would be hit the most.

“If they are unable to service the loan, they will be forced to sell. But it will not be as easy as before due to the real property gains tax,” he said.

- http://www.starproperty.my/index.php/articles/investment/new-opr-will-have-little-impact/

10 July 2014

KL Property: Oversupply of luxury condos

I've gleaned a few points from the news report below:
  • 5,000 to 6,000 units due for completion within the next 6 to 9 months.
  • ranging from RM1,000 per sq ft and RM1,500 per sq ft
  • most of these were bought for flipping
  • but at such prices, they may have problems finding a buyer
  • due to high prices and soft market, will try to rent out
  • super luxury units, ranging over RM3,000 per sq ft are not affected
I believe they have a term for market conditions such as this. It's called a bubble.

I hope those who are stretching their financial capabilities with a few properties in hand have adequate cashflow. Most times, it's not the amount of loans that will do you in. It's always the cashflow.

Whenever the market slows down, it's not only the buyers who are affected. The developers too, are not spared.

The past few years have seen developers launching their projects at lightning speed. Usually, in such situations, their resources will be stretched thin when they try to build and deliver a few projects concurrently. Some will take shortcuts or scrimp on materials. Some will even abandon the projects due to insufficient funds.

Anyway, I think the bull-run on property is over. Probably in a year or two from now, when demand for luxury homes tapers and interest rates are higher, the developers will start launching more affordable projects.

Don't forget to save up for rainy days. The job market is stagnant at best, which means less jobs and more competition for jobseekers.




Worries over luxury condos, number of upcoming units 'frightening' 


PETALING JAYA: An oversupply of new luxury condominiums in the Klang Valley this year is expected to create pressure on rentals and even result in a “price war” on new and existing units.
Property consultant CH Williams Talhar & Wong Sdn Bhd (WTW) managing director Foo Gee Jen said the number of new units expected to come in over the next few months was “frightening.”

“We expect some 5,000 to 6,000 units coming in within the next six to nine months in the Klang Valley,” he said, adding that he was “mixed” on the outlook for high end condominiums ranging between RM1,000 per sq ft and RM1,500 per sq ft.

Malaysia Institute of Estate Agents (MIEA) president Siva Shanker said he expected a “price war” to erupt amongst owners looking to find the best rental rates for their condominiums.

“A lot of people would have bought these upcoming properties to flip (sell at a higher price). But at such prices, they may have problems finding a buyer. So the next thing they will do is try to rent out the unit.

“Again, to try and get the most out of the situation, they will want to rent out the property at the highest possible price. But because there’s an oversupply situation, there will be competition from other owners.

“So a price war will begin as they start lowering prices (to be able to secure a tenant).”

Siva said he expects units ranging between RM600,000 and RM1.5mil to face this problem.

“However, units that I call super luxury units, ranging over RM3,000 per sq ft, are unlikely to face this problem as they are quite niche and are unlikely to face much competition,” he said.

According to WTW in its report on the luxury condominium sector for the third quarter of 2013, the cumulative supply of luxury condominium in Kuala Lumpur increased from 25,796 units in the second quarter of 2013 to a total of 26,163 units in the third quarter of 2013, contributed by 147 projects.

The bulk of supply was concentrated in KLCC area with a total of 11,181 units or 43% of total cumulative supply in Kuala Lumpur.

“Prices were generally stable in all areas where in KLCC and Mont’ Kiara/Sri hartamas area, prices ranged between RM850 and RM1,400 per sq ft while for the remaining areas, prices were between RM700 to RM1,200 per sq ft.

“In terms of gross asking rentals, rentals in KLCC area indicated stable rates at a range of RM4.50 to RM6.50 per sq ft while the remaining areas ranged from RM3.50 to RM5.50 per sq ft,” said WTW.
- http://www.thestar.com.my/Business/Business-News/2014/07/09/Worries-over-luxury-condos-Industry-watchers-Number-of-upcoming-units-frightening/

 

05 July 2014

Soup Kitchens banned in Kuala Lumpur city centre

You know our country and soceity is breaking down when you have leaders in the likes of Tengku Adnan running the government. It really seems like the trend these days, like I mentioned in my earlier posts, to blame and penalise the innocent while offering no solutions to the root of the problem. From water to electricity, to food and petrol. Everything is the people's fault. They are told to be prudent, change lifestyles, fined, etc. Basically, they are told to accept the reality because it's their fault!

The minister is taking the easy way out to the problem. Impose a fine on the people and arrest the vagrants. If that is your best solution, it shows that your job does not require much skills, talents, or knowledge. See how easy these politicians' jobs really are?

Ok. Since the government is so concerned about cleanliness and the city's image, I have a few suggestions for the good minister.

1. Littering. Malaysians like to litter. Despite fines, they still do it. Soup kitchens are not the main culprit here. If DBKL is so concerned about cleanliness, perhaps they should help clean up the streets as a civic duty instead of penalising good people doing social work. In some civilised countries, people no longer litter unlike Malaysians. No point pretending that we are civilised.

Typical clean street in Japan.

Japanese fans cleaning up after a World Cup football match.

2. Crime. The public is robbed in broad daylight! Criminals are roaming the streets everyday looking for victims! And the authorities are more concerned about a few homeless people tarnishing the city's image? How about making the city crime free as your priority?

3. Image. Soup kitchens actually give the city a positive image. It shows that residents of Kuala Lumpur have compassion. It shows the humane side of soceity in a concrete jungle. Perhaps the government should offer help instead of penalising those who are helping.

By all means, take action against the human trafficking syndicates. Arrest them. Stop the influx of illegals entering the country to commit crimes. Who are those responsible for bringing them in? Since the minister is so tough, go after the syndicates!

Does it matter if some of those receiving help are free-loaders, drug addicts, louts, etc.? These people are everywhere. You see them at open houses, government events, shopping complexes, etc. Come on... in this country, even the so-called educated middle-class still park at handicapped parking spaces! 




Tengku Adnan: Soup kitchens banned within 2km radius of city centre 


KUALA LUMPUR: Soup kitchens will no longer be allowed to operate within a 2km radius of Lot 10, which covers a large portion of the city centre, effective immediately, said Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor.

"This activity just encourages people to remain homeless and jobless. There have been many such people whom we have found jobs for, who returned to that life because they said it is easier," he said at press conference to present official appointment letters to representatives on the Non-Islam House of Worship committee in Menara DBKL here Thursday.

He added that the sessions also resulted in littering and this in turn attracted scavengers that brought about diseases.

"We already have all kinds of garbage-related problems in the city and spend more than RM90mil a year collecting it. I do not see my actions as harsh but necessary in order to create a disciplined society," he said.

Tengku Adnan added that the soup kitchens have not been officially notified of this and a meeting with them to discuss it will be held soon.

However, he said they would be given the next two days to comply with the decision and action will be taken against those who continue to run the activities.
 - http://www.thestar.com.my/News/Nation/2014/07/03/Soup-kitchens-banned-around-KL-city-centre/