Lowyat.NET: Latest topics by novabankinghall

RPGT for joint property holder

novabankinghall — Tue, 13 May 2014 15:23:29 +0800

Just example
Me n father bought a property for 100k joint name
Now we r selling for 300k
Both hv never utilise our life time rpgt waiver
Target to sell on now ie 4th year where rpgt is 20%

To utilise the once in life time disposal previllage of one of us only,
Is it feasible if i transfer ownership to my father as a gift (tax free)

Subsequently my father to sell within 6 months time and just
Utilise his life time free rpgt disposal right

Also note the property is under financing
both name however no lock in period anymore

Pls advice feasibility of doing that and potential cost incurred.
Wondering whats the cost incur transfeering to my father
And also if its allowed change to 1 person name since the name is joint name
Thanks in advance

Platinum Victory Lake View City PV15 (Phase 4)

novabankinghall — Sat, 01 Dec 2012 13:11:59 +0800

Hi guys,
I just went to collect key at PV15, the latest completion of Platinum Victory project.
Any owner here? Just say hi and perhaps we can have initial discussion issues about this project
Well for those whom are anxiously waiting to get the key or to move in...or considering to buy

Just some sharing here:-

PV15 is kinda strategic in the sense that, its just facing the row of shop lots.
These shop lots include key franchise like Domino Pizza, Pizza Hut, Wings Cafe, Asi William's, 7 Eleven and others. Its also very close walking distance to Platinum Mondrion (PV128) which also houses Chatime, Sweet Hut, Ochado, Too Woo MBA, VDarts (used to be Overtime), Pelita and others.

Most of PV projects are relatively higher density (usually about 1000 units each phase since all are with 2 blocks ), however PV15 only has 1 block (less than 500 units perhaps) which makes it among the least density project from PV. Thus also means easier to manage in term of security and public facilities.

PV15 thou only 1 block has its own facilities including swimming pool, gym (indoor and outdoor) and garden. Again means less crowded to share the same facilities. Landscape are very reasonable (will try to upload some photos soon). Property layout is very similar like PV13, just some minor improvement on the toilet. Key interesting thing i like (if your unit is facing swimming pool), is that you might be able to see 3 swimming pools (PV13,PV15 and PV16). I believe guard entrance are also much easier to manage as 2 exit/entrance car lane just to service 1 unit.

Potential tenant/owners could be those working around these areas while also including those working at Festival Mall (approximately about 800m away). Nonetheless still hope this project will be occupied mostly by family owners.

For investment purpose. According to sales office, latest transaction price for smallest unit (1313sf) was as high as 470K. I posted an advertisement for 1.8K bare unit rental and received a few calls on the first day.

Ok guys, enough from me. Do share your thoughts (HEY NO, I'M NOT PROPERTY AGENT!)

First thing first, defect check and install grills!

investing in foreign property

novabankinghall — Fri, 13 May 2011 20:56:07 +0800

1) 70 pct margin on 3 prop applies?
2) which bank.gives the.best loan?
3) which foreign country u prefer? US? UK? Australia?
4) any special.tax concern?
5) do u engage any professional property management company? recommendation n cost?
6) does ur installment fluctuate with the currency movements?

appreciatr ur input thanks

loan - zero entry cost

novabankinghall — Thu, 21 Apr 2011 21:15:12 +0800

thought of refinance a commercial property... any bank still offer this? zero entry cost... (without any special approval)
i heard BSN can do it? really? never really know much about BSN mortgage... dont know they have one instead.....

what oil price has to do with property price?

novabankinghall — Wed, 02 Mar 2011 21:08:10 +0800

http://biz.thestar.com.my/news/story.asp?f...24&sec=business

PETALING JAYA: Property prices of the local residential sub-sector are expected to be flat in the next few months as fears of rising oil prices due to the political unrest in the Middle East may damper investor and buyer confidence.

Khong & Jaafar Sdn Bhd managing director Elvin Fernandez said the local residential sub-sector would not see “insane run-ups” in prices like last year due to both global and local factors.

“Stock markets in the region have not been on the run-up. The uncertainty in oil prices and measures taken by Bank Negara to curb rising property prices will see (prices) within the local residential property sector holding,” he said when contacted by StarBiz yesterday.

Fernandez said the local residential sub-sector experienced “insane run-ups” in prices towards the second half of 2010 but, in light of both local and foreign events, the run-up in prices “will be arrested.”

Henry Butcher Malaysia Sdn Bhd chief operating officer Tang Chee Meng said he expected prices of the residential sub-sector to be stable in the next three to six months.

“Property prices won't go up as crazily as it did last year,” he said.

There would still be interest for landed properties and high-rise developments would experience a bigger slowdown, he said, adding that if oil prices shot up, people might put off property investment.

In its report, DTZ said that to push sales, developers were now selling smaller units in line with market demand, especially aiming at the investment segment of the market which was still relatively strong.

“Capital values are stable in most locations with an average of RM599 per sq ft, but rental rates continue to experience deterioration as new completions add competitive pressures to existing projects,” it said.

Tang also said if oil prices shot up, people might put off property investment.

Well i know anything has something to do with everything, but after as i know there is no direct correlation between oil price and property price... please with me the reasoning. Thanks.

Discount for self initiated insurance customer

novabankinghall — Thu, 24 Feb 2011 00:50:16 +0800

financial product is meant to be sold not to be bought

rare we meet ppl whom wake up and say "oh i need insurance"

however i am one of them.... medical card... damn important

but do u have this experience? some agents whom are just "help to fill in forms" thereafter see you again if any new sales... forget about service after sales (not just insurance, to be fair.... almost everything under the sun)

I remember TuneMoney or who ever try to promote general insurance (car insurance?) for discount for those whom self initiate to buy the insurance... any company that offers such discount for medical card product?

Rise in statutory reserve requirement expected

novabankinghall — Sun, 30 Jan 2011 01:48:12 +0800

PETALING JAYA: Industry observers believe that a hike in the statutory reserve requirement (SRR) by Bank Negara is likely at the next monetary policy committee (MPC) meeting in March.

The SRR is a monetary policy instrument available to Bank Negara to manage liquidity and credit creation in the banking system. It is used to withdraw or inject liquidity when the excess or lack of liquidity in the banking system is perceived by the central bank to be large and long term in nature.

It is currently at a historical low of 1% from 3% to 4% in 2008.

An economist from a local bank-backed brokerage said a rise in the SRR might be implemented to curb the inflow of hot money.

“Looking at current trends, the central bank will do it. If it feels hot money is coming in and that there is a need to avoid misalignment in asset prices, it will increase the SRR,” he said.

Hot money refers to funds which flow into a country to take advantage of a favourable interest rate, therefore obtaining higher returns.

On Thursday, the central bank maintained the overnight policy rate (OPR) at 2.75% as it considered the existing monetary policy stance as appropriate and consistent with the current assessment of economic growth and inflation prospects.

However, it said that it would consider other policy tools such as the SRR and macro-prudential lending measures to ensure domestic macroeconomic and financial stability.

Affin Investment Bank in its research note yesterday also said the SRR was likely at the next MPC meeting.

“There is a possibility that Bank Negara may raise the SRR, which was cut from 4% in October 2008 to 1% in February 2009, in the next MPC meeting, but keeping its policy rate unchanged,” it said.

Maybank Investment Bank said: “The latest monetary policy statement not only continued to highlight the risk to macroeconomic and financial stability from the volatile international financial market conditions amid increased global liquidity and hence short-term capital flows, but added that policy tools such as the SRR and macro-prudential lending measures may be considered.

“This raises the odds of the SRR rising in the next MPC (on March 11) and we are factoring in (more than) a 100 basis points adjustment.”

According to AmResearch Sdn Bhd senior economist Manokaran Mottain, a 1% hike in SRR can remove at least RM3.9bil from the banking system.

ECMLibra Investment Research, meanwhile, said besides the SRR hike, Bank Negara might also implement macro-prudential lending measures to alleviate the risk of financial imbalances.

“In this context, we believe lending to the household sector will likely be targeted given the very strong growth seen in loans for residential property, non-residential property, personal use and credit card,” it said.

Meanwhile, Bank Negara said in a statement yesterday that net financing to the private sector in December increased by RM17.7bil, or 11.4%, versus RM8.8bil, or 10.8%, in November, driven mainly by higher private debt securities issuances.

Loans outstanding rose moderately by 36.6% during the month.

“The expansion in business loans outstanding in December compared with the previous month reflected mainly the increased investment and working capital needs of firms in the real estate; manufacturing and construction sectors.

“Meanwhile, the pace of expansion for household loans moderated. Overall loan demand, nevertheless, increased during the month following a slight moderation in November, supported mainly by the business sector,” the central bank said.

Year-on-year, banking system loans outstanding for households and businesses grew 13.4% and 9.4% respectively in December.

Bank Negara said the banking system remained well-capitalised with the risk-weighted capital ratio and core capital ratio at 14.6% and 12.8% respectively. “The level of non-performing loans, including impaired loans, remained stable to account for 2% of net loans. Loan loss coverage remained above 90%.”

Interbank rates were stable in December. In terms of retail rates, the average base lending rate of commercial banks was unchanged at 6.27%. Retail deposit rates were also stable.

Broad money expanded at a more moderate pace of 7% in December. The increase reflected higher government spending to finance its outlays and higher credit extension by the banking system to the private sector.

“These factors, however, were partially mitigated by the drawdown of deposits by the private sector to finance the purchase of Bank Negara securities from the banking system,” it added.

[addedon]January 30, 2011, 8:52 am[/addedon]lets start to analyze this situation, less money to lend out

Short Term Effect
- Less money in financial system (less liquidity)
- Straighter lending requirement
- Less people borrow to buy property
- Increase in rental market

Long Term Effect
- Less speculator in the market
- Slower but more sustainable growth in property market
- More prudent financial system

Remark/Comment
- Do you think this is significant? Seems like banks are flushed with liquidity
- 70% loan margin financing, RPGT and latest SRR - all efforts to curb property speculation

Platinum Victory Lake View City Phase 3

novabankinghall — Sat, 08 Jan 2011 02:10:40 +0800

Hi,
Any news when this project will be completed? As far as i know, s n p signed in sept however the staff said expected to complete in June. But when my fren called, some staff said April this year. What you heard?

i'm just wondering when exactly the owner can move it?

Secondly who any house owner out there, what is ur plan? Own stay (family) or investment purpose? Just wanna know what type of demographic expected from that site

They said land sold to Tesco, but still dont see anything happen, Parkson is only the way... btw Mydin took over few commercial lot at PV12. So if Tesco also come, means this places has Parkson, Tesco and Mydin !!!

Owner welcome to PM me. Thanks.

[addedon]January 8, 2011, 11:40 pm[/addedon]average price for pv12 which has size ab 1300 is asking for 400K.

Updated List of Owners 1 August 2011

((Block A))
meto, Block A, Level 23a
Steve Ng, Block A, Level 21
Odinn, Block A, Level 19
ROBINHAR, Block A, Level 19
peterchai288, Block A, Level 13a
Dyensem, Block A, level 13
cs1123, Block A, Level 13
novabankinghall, Block A, Level 9
Beeeeee, Block A, Level 8
keith5988, Block A, Level 8
quezone, Block A, Level 6

((Block B))
nakashimakazuma, Block B, Level 23A
CHL, Block A, Lever 17
esjates, Block B, Level 16
hazwanh, Block B, Level 13a
Coloring Life, Block B, Level 10
sony_user999, Block B, Level 9
m fairuz, Block B, Level 8
ellena, Block B, Level 7

Play video will auto restart pc

novabankinghall — Sat, 17 Apr 2010 07:20:30 +0800

when i play a video and try to "drag/scroll" the fast fwd bar, the pc will just suddenly hang and auto restart. It only happens when i did the above. If I just online and do office, its perfectly fine.

I had changed, HSF, mobo and power supply (also format window). Situation still the same. Any advice? Thanks.

interesting story on handling difficult tenant

novabankinghall — Sun, 14 Mar 2010 23:04:00 +0800

I rented a room to a chinese female... we always think.... Chinese female shall be fine gua..... ok gua....
till recently, she wanted to move out however refuse to continue paying rental
her rational was that she had gave me enough notice (more than 2 months) thus the rental shall be deducted from the rental security deposits. I do not agree as i believe the rental deposit serve as a protection for me, in-case she "disappear" or cause any damage to the premise or anything in the premise when she moves out.

We have some disagreement and THEN she brought 3 outsiders (her family members) to come nego with me
at the inconvenient time (1030pm) when i'm alone at home with my fren (whom do not know about this issue at all)

This tenant and the 3 members, 4 VS 1 insulting me (eg ask me to shut up, stupid, and all type of personal accuse against me). The negotiation didn't go thru smooth enough as they non-stop insulting/accusing me. Even the tenant was shouting and insulting me (can you believe a young female nurse can be so nasty?). When her "people" are around, she finally shows her true color.

There are some funny parts, her sister whom is in mid twenties said herself is a lawyer and start pointing her fingers to me. I told her to stop it but she said " i like to do it and u can't do anything" then started "dancing" in front of me...at this point i really double her if she really a lawyer. She also try to show her power, wearing shoes in my living room and refuse to remove it by my request.

As I can't stand it anymore, I called it off and went to make a police report. First time in my life handling tenant which end up in police station. As per the Sarjan in charge, I am advice to give the tenant 2 weeks time to move out.

The peak of the story is here.... the next morning, when i was cleaning the living room.... as they had caused some chaos in my living room. Guess what? I found a hanger on the sofa (which his father was sitting tightly when i came out). I was thinking? What is the hanger at here? As they came in anger, i have the right to believe that its the weapon kept by her father underneath the sofa when they are here. I have not keep the hanger in my room. Just incase it shall be used as an evidence. NOW.... I have the full right to ask for protection for my safety.

Thus tomorrow i went to talk to the management and security guard. Show them my police report and tell the whole story. Together with the security guard, we went home to check if she continue to bring outsiders to my place. Then security guard also gives instruction to her that she has to leave in 2 weeks time. FINALLY she agrees to go (unwillingly of course).

The morale of the story is...
1) Always have a written agreement when renting your premise (which i naively thought chinese female is always good)
2) Don't start heated argument especially bringing majority to "bully" the minority. You can be accused of threatening the safety of the opposite party.
3) Always have witness (which my fren was around) and also do not try to or intend to be "physical" (her father was hiding weapon - hanger at the sofa)
4) Choose your tenant very very carefully, just for RM330 pm. Not worth for all the trouble and stress.

Fellow house owner or someone with legal background. I need some advice. Because her sister mentioned that she wants to "sue" me. I'm just wondering, what are my rights? First of all, we don't have any written agreement (except a receipt to show her that i have collected rental deposits from her). Secondly she and her family (total 4 ppl) coming in late night (1030pm) and with also suspect to hide hanger as weapon has threaten my safety. So, what can i do now just to prepare if she really wanna take any legal action against me (the rental is RM330 per month). I am now giving her enough notice (2 weeks) to move out from the premise. I believe I have done the best in giving her ampel of time to move out. FYI, she has not pay utilities for the past 3 months. Why? The naive me.... chinese female.... should be fine gua, no need to collect utilities every month.... so regret now....

Penalty for late payment to developer

novabankinghall — Mon, 14 Sep 2009 21:53:54 +0800

We received a "reminder" letter from developer saying that our bank has yet to pay for the first progressive payment amounting RM20K+. After check with my borrowing bank, they said that they had made the payment. When i double confirm with the developer, they say the $ is still stuck at the lawyer firm whom suppose to facilitate the payment from bank to developer.

My questions:
1) Can the developer still charge me the hefty interest of 8%pa if lawyer firm fail to transfer the $ to them by the due date? For your information, the bank has already start charging me the interest on the first progressive payment to the developer (the payment which is actually stuck at lawyer firm).

2) How can we avoid developer to charge us the late payment interest of 8%pa when the problem is with the bank or lawyer firm and not us?

3) Any action we can take against the lawyer firm for their inefficiency?

Thanks.

Complaint Lawyer Service

novabankinghall — Tue, 07 Jul 2009 17:54:11 +0800

sigh... sometimes deal with fren is even worse. My fren introduce a lawyer firm for me to handle my loan application. It has been farking long and a lot of mistakes in the agreement. No communication and documents not properly arranged. I have forced to make few trips back to hometown to let my parents sign the document and come back and now i have to go back AGAIN! I'm very pissed off. More over they x come to explain about the agreement/document to me, just send a runner to ask me sign. When i ask him where to sign, he also has no idea. I feel that the lawyer is very not professional. Where can i complaint their service?

Moderator, can i disclose the Lawyer firm name? So that others can beware about this lawyer firms that provide bad service!!!

Investing into property which has management prob?

novabankinghall — Mon, 20 Apr 2009 02:37:15 +0800

Will you consider to invest into property which has management problem?

I have viewed a property recently, the management has lots of problem. One of the main problem is that the previous management company didn't pay the water bill (residents pay to management). Therefore the water company threaten to cut the water supply. The residents are very angry with the management and some even try to influence everyone not to continue paying management fees.

The maintenance at that area is below average interm of cleanliness and bad interm of security. I do not expect this property to have much capital appreciation opportunity (its above 10 years old). However the rental yield is consider not bad (>7% pa) and with all this problem still able to attract high occupancy in the apartment.

Anyone wish to share your experience? Btw I end up not buying it... just wondering if anyone has any experience buying investment property which has management problem.

From what i observed so far, 80% of the properties i visited before has below satisfaction property management. Mostly are not well maintained... therefore after a while, i lowered down my expectation on the property management as a point of consideration.

Thank you very much.

anyone doing refinancing? borrowing cost is cheap

novabankinghall — Sun, 14 Dec 2008 23:52:55 +0800

if your property was bought about 5 years back... not is the time that you want to refinance your property.
5 years ago most packages were BLR+X% comparing to current package of BLR-X%

Infact i'm considering to cash out from my property's equity.... LOL.... if ur mortgage is BLR-2.2%, meaning your borrowing cost is about 4.3% (6.5%-2.2%) only. That is cheaper than any car or credit card loan.

Any suggest what package to take? I'm looking for something zero entry cost and flexi loan which provides a current account as withdrawal/prepayment facility.

My Keyboard is confused

novabankinghall — Sun, 14 Dec 2008 12:17:44 +0800

hi experts.. just a small question....
past few weeks i tried to clean my keyboard (desktop usb)... then i realise there are many dust in between of the keyboard... so being impatient i just bang my keyboard on the floor hoping all the dusk will drop out....

well i successfully removed some dust... however .... "

now 2 keys that i always use got problem

when ever i type " i will get @ and vice versa.

however 2 is still 2 while ' is still ' .

incase u don't get what i mean... when ever i want to type " , i will get @

LOL..... beside buy a new keyboard at RM30.... anyway to save this keyboard? thanks a lot.

girls like to pretend angry? and want guys 2 "tam"

novabankinghall — Sun, 09 Nov 2008 12:43:29 +0800

.... why gals like that... i'm sure not all....
but i experienced a few..
they just wanna pretend angry and want you to "tam/pujuk" them...
why so troublesome one?
i really don't understand girls

however my fren said something very true....
if they pretend angry they just enjoy to be "tam"
if they are really angry, "tam" also no use already LOL

How to stop winxp setup

novabankinghall — Sun, 09 Nov 2008 11:29:14 +0800

hi all,
I run winxp setup from my existing window. Thus the software will install some "setup or installation files" in the harddrive. Then i suppose to restart my computer to go into the setup mode. However after that i changed my mind and refuse to reinstall my window.

However everytime i restart my window, it will go into the Window setup mode. I have to choose the "run winxp" instead of "run winxp setup" to go direct into my window

My question is how to stop the windowxp setup?

I had tried remove the windowXP cd from the dvdrom.

Thanks.

When is the market bottom?

novabankinghall — Thu, 23 Oct 2008 01:09:49 +0800

I have heard many opinion as of when market will bottom. Some said very soon while on contrarian saying that we might experience the next great depression. So lets do a poll to know what everyone's view. I'm referring to global market in general.

Anyone come across a good retirement calculator?

novabankinghall — Mon, 25 Aug 2008 07:08:13 +0800

I had googled few calculator.... mostly doesn't meet what I want... there are few factors that are always absence especially

1) inflation
2) growth in your salary
3) change in life style
4) change in risk level of your investment etc...

Any idea?