Sunday, September 1, 2013

Staying Long on Malaysia Property Market




In this Aug 2013 interview, Christopher Boyd, Executive Chairman, CB Richard Ellis Malaysia discusses the following questions:
- Having come from the Regroup fold and then signing an affiliate agreement with the global property consultancy CBRE in 2009 to tap on some strategic affiliations -- how has this partnership lived up to expectations?
- As a full-service consultancy CBRE performs the whole gamut: strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. How is the firm coping with being full-suite?
- And from the standpoint of staying full-suite despite the industry not always accommodating it? HR / qualified personnel?
- Looking at the CBRE group revenue breakdown as a whole, it seems that Property, Facilities & Project Management and Leasing services are the primary growth drivers. Does CBRE Malaysia’s revenue percentage mirror this too? If not, how different is it?
- Commercial property - status update - oil and gas sector healthy - supply-demand issues - trends - city / Golden Triangle exodus - Section 13 revival - flight to quality (efficient building, continuous power, flexible a/c, vertical ducts, MSC status) - chasm between new and old buildings in re Green/MSC compliant -
- With household debt near regional highs and property mortgages comprising half of this debt do you share the widespread view that speculation needs to be reined in?
- The Central Bank has weighed in heavily to cap speculation. What is your view as regards its timing and the efficacy of its measures?
- Is there a risk of too much intervention, which could 'cramp' growth?
- Couldn't restrictions on DIBS be circumvented by developers simply via other promotional tools?
- Will rising interest rates globally, and locally, have a major –ve impact on the local property market?
- Budget 2014 will be released in October, do you expect any policy announcements targeted at the property sector?Expectations?
- Housing affordability is gradually slipping in M’sia, with National Property Information Centre data showing house prices in Malaysia have outpaced median household income growth by 1-4% across the four main property markets since 2009What’s the best way to address this problem?
- Your view of govt-sponsored programmes like PRIMA and ‘My First Home Scheme’?What of private sector solutions?
- From an investment perspective, which segment (residential, office, retail) are you most positive on?And which geography?
- Retail continues to be resilient -- and mall development and refurbishment appears to continue unabated .. ? True / false?
- What’s the health of the sale / leaseback market looking like right now?
- All the big boys: Sime Darby, SP Setia, IJM Land, even smaller niche players like E&O and Selangor Dredging -- they have or will soon launch projects abroad, with the UK and Australia being particular favourites.Will foreign property purchases continue to attract interest?
- Indeed, from an investment standpoint, buying a second property in an industrious, well-planned, well-managed, surplus- and resource-rich nation, with an educated workforce and high savings rate is seen as a good hedge to a local portfolio. In this context, the UK, Australia, SIngapore and HK are popular choices. Do shed some light on how many Malaysians have taken this route?
- UK developers seeking foreign equity - aversion of UK bank capital to real estate - seizing the opportunity
- In 2010, your Johor colleague Wee Soon Chit (Director of CBRE (Johor) said that he feels that the Johor property market has a long way to catch up with the Kuala Lumpur (KL) property market but Iskandar Malaysia will play a critical role in closing the gap. Has that gap been closed?
- Country Garden - China developers
- Values have skyrocketed in Nusajaya. But with tapering fears and liquidity outflows, many are now concerned of a slowdown, especially among indebted nations like Malaysia -- is Johor a bubble that is about to burst?
- There have been concerns expressed about oversupply risks to Iskandar – particularly in the high-end condo segment- Is oversupply a real threat? Or are these worries overblown?- Is there really a secondary rental market for high-end condo’s in Iskandar?
- Do you fear widespread defaults among JB property speculators



Source/Extract/Excerpts/来源/转贴/摘录: BFM
Publish date:28/08/13

No comments:

Post a Comment

Warren E. Buffett(沃伦•巴菲特)
Be fearful when others are greedy, and be greedy when others are fearful
别人贪婪时我恐惧, 别人恐惧时我贪婪
投资只需学好两门课: 一,是如何给企业估值,二,是如何看待股市波动
吉姆·罗杰斯(Jim Rogers)
“错过时机”胜于“搞错对象”:不会全军覆没!”
做自己熟悉的事,等到发现大好机会才投钱下去

乔治·索罗斯(George Soros)

“犯错误并没有什么好羞耻的,只有知错不改才是耻辱。”

如果操作过量,即使对市场判断正确,仍会一败涂地。

李驰(中国巴菲特)
高估期间, 卖对, 不卖也对, 买是错的。
低估期间, 买对, 不买也是对, 卖是错的。

Tan Teng Boo


There’s no such thing as defensive stocks.Every stock can be defensive depending on what price you pay for it and what value you get,
冷眼(冯时能)投资概念
“买股票就是买公司的股份,买股份就是与陌生人合股做生意”。
合股做生意,则公司股份的业绩高于一切,而股票的价值决定于盈利。
价值是本,价格是末,故公司比股市重要百倍。
曹仁超-香港股神/港股明灯
1.有智慧,不如趁势
2.止损不止盈
成功者所以成功,是因为不怕失败!失败者所以失败,是失败后不再尝试!
曾淵滄-散户明灯
每逢灾难就是机会,而是在灾难发生时贱价买股票,然后放在一边,耐性地等灾难结束
  • Selected Indexes 52 week range

  • Margin of Safety

    Investment Clock

    World's First Interactive Investment Clock