Melting Pot @ Molek - Accounts Clerk

Backkom — Thu, 14 May 2015 08:04:54 +0800

Name of Company: Melting Pot @ Molek

Role: Accounts Clerk

Remuneration: RM 1,800

Requirements: Minimum SPM, 3-5 years experience in admin/accounts role

Contact Person: Kindly email your CV to guanjye@meltingpot.com.my

Job responsibilities:
1. Manage the front desk and attend to walk-in customers
2. Attend to enquiry phone calls and emails
3. Manage incoming and outgoing postage and couriers
4. Data entry - update customers database and others
5. Manage meeting room bookings
6. General upkeep of office environment
7. Ad-hoc tasks as and when require
8. Managing accounts related documents - issuance of quotation, invoice, receipts and payment vouchers, maintenance of the Company's revenue and expenses record, petty cash management.

Minimum requirements:
1. SPM qualification
2. Proficiency in communication skills in BM and English
3. Computer literacy in MS Office, Word, Excel

Interested candidates please email your latest CV to guanjye@meltingpot.com.my

Melting Pot @ Molek Website

BFM 89.9 The Property Show, Friday 9.30am

Backkom — Wed, 11 Jul 2012 09:49:40 +0800

Last week they had HBA talking about their proposals to the government on controlling house price escalation and providing affordable housing to the mass. This week heard that they'll be interviewing someone from Online Property Forum... that's talking about all of us here!

LYN Mentioned in the Sun - Property Bulk Purchase

Backkom — Mon, 18 Jun 2012 10:46:22 +0800

The power of online community...

Link to full article - http://www.thesundaily.my/news/408390

Bulk buying achieves big sales
Posted on 15 June 2012 - 10:02am
Last updated on 15 June 2012 - 10:15am
By Chee Su-Lin, su-lin@thesundaily.com

Investors are often greeted by a large number of stickers on project sales boards long before the project's launch
"Immediately sold out within two days!" scream headlines, sales boards plastered out with stickers before doors open, entire floors booked en-bloc: ever wondered where all these sales came from? Some point to shadowy property syndicates, and others at agents who bulk buy, then sell at a margin.

Mostly, these are property investment clubs; property investors who band together to get a group discount, like a Groupon for real estate, almost. These clubs arrange with developers to get a special price or rebate for a project, in return for assuring sales for a particular number of units. Besides project launches, they also band together to buy entire blocks or buildings on the secondary market. What they benefit from, according to proponents, is group strength.

"If you don't have the bulk, you don't get the pricing," says Sandeep Grewal of Real Estate Tycoon Club. "If there's one building available for sale for RM30 million, what individual can go and buy it? It's very limited but as a group and if it's stratified we can go in and take the whole thing."

It's a bit like collective bargaining by workers in a union. "Some of the investor clubs, like [Gavin Tee's] Shwengtee, that recently purchased two office blocks [at The Boulevard in Mid Valley City at a cost of around RM52 million], are very interesting," opines James Tan, project director of Suntrack Development Sdn Bhd. "It's a great negotiation strategy, like unionizing your bargaining power."

These groups may come together to discuss a particular property at specific events. One recent event was held by Real Estate Tycoon Club on the same day as Bersih 3.0. It managed to draw around 80 property investors, coming with cheques of RM20,000 each as booking deposits. "In total we confirmed 96 units with a total size of over RM 53 million," says Grewal, adding that these investors were given an additional 3% rebate on top of the 7% that the rest of the public received.
Other famous bulk buying groups are headed by property investment gurus such as Milan Doshi and Kam Wei Tsung, who advise their adherents on profitable investments, while obtaining group discounts from developers or vendors.

The existence of agents who buy properties in bulk has also been reported. "I've dealt with some of these agents," says James Tan,. "Sometimes, they just want to lock down sales, and get a margin out of it. They say they'll buy three floors of condos, for example, and ask for six months to pay the 10% downpayment and during that time, they'll go out and sell. They'll also ask for a significant discount, like 5%, which is double the normal agent's commission of about 2%. So they'll make if they manage to sell, but if they can't, they'll forfeit the deposits paid for the bookings."

This is confirmed by another founding member of Propertywtf: "There are a lot of people with a lot of cash now, who just go to the developer and underwrite several units. They buy first and then sell to other buyers."

Even lawyers are getting in on the act, adds Grewal, telling of one conveyancing lawyer who organizes bulk deals which he promotes to his database of clients.

"It's just a different model for these agents but we don't place too much comfort in such arrangements," adds Tan, whose projects include Summer Glades in Cyberjaya. "Most of the time, the marketing risk is still ours. After all, they can still walk away after three months, and I would've wasted this time that I could've used to market to other people. This is especially so if the properties in question are not available in such high volumes and I'm confident they would sell well anyway in the open market."

You don't talk about the property investment club
"For most of the deals we get from developers, we are limited from announcing to the public as not to affect their launches," says Grewal. Other buyers would probably not be happy paying more than bulk buyers. Bulk buys, in fact, make subsequent purchases look more attractive.

"When a big name developer goes out and says, hey, I've only sold 10%, there would be no demand," adds Grewal. "But if they say, we've sold out 70%, and there are only 30% left, then there's a rush, and people are more interested…. It helps their sales figures and when they actually launch to the public it looks nicer."

It isn't surprising then that some critics say such practices artificially inflate property prices. Grewal protests, however, that price escalation has had more to do with "larger market forces at play": "If a project is going for RM1,000 per sq ft and surrounding areas are only selling for RM300 to RM400 per sq ft, there is a huge price difference, and how do the banks justify financing for this?"

Grewal adds that property investment clubs are straightforward are compared to errant developers putting up unsubstantiated sales stickers on sales boards: "Those dots change. Sometimes a unit is available, sometimes it's not. That's called dressing up and that is truly artificial inflation."

As opposed to other flippers who buy new launch properties then sell upon completion at a profit, property investment clubs are, in fact, more organised and can help the market, claims Grewal: "In Taman Equine, we had a row of shops. Instead of selling all at once, we sold intermediate units first, up till right before completion, because if there are too many units up for sale, the prices immediately drop after completion."

Grewal also expresses admiration for how property investing guru, Gavin Tee, arranged established international companies to lease two towers in Petaling Jaya, while organizing the bulk purchases of these properties. "If he had gone to the market and just sold the units, it would have hit everyone in the group as well as other investors in the development. This way, however, he added value to all the rest."

Not the first bite
Another variant of such clubs is the online community which brings together those who are interested in property investment. Developers find that they can increasingly market directly to these communities, including property forums such as Lowyat.net or www.propertywtf.com.my.

"We only do deals if we are able to enter the market at about almost the same time as the directors, to get the best and cheapest units," says a propertywtf.com.my founder who wishes to remain unnamed. "A lot of the other clubs, however, group people together to sell developers' unsold properties; these are not the first bite… If I'm the marketing director, and my KPIs have not been met, my budget of advertising has ended, and I approach these guys see whether they can clear say, 50 units, or 30 units, for me."

Real Estate Tycoon Club does sometimes market properties which the vendor needs help selling, admits Grewal. He is confident, however, that this is not due to any inherent fault of the property, but due to the way the property was previously marketed.

Sometimes the developer does not recognise that a property would best be marketed as a SOHO, rather than as an office space; sometimes, the developer cannot connect with the right buyers who recognise the value of their properties, he says. "It's all about getting the idea out there, then people will take it up."

Are such segregations of the market ultimately fair to ordinary buyers who just want to buy their dream home, however? Perhaps not, if they have to compete with increasingly more people who see property as a means to make money, be it through flipping, or by renting out and hoping for capital appreciation.

Property hungry investors who have tasted profits take pride in going to VVIP previews to get the first choice of units of the first phase at the cheapest prices. Being part of a larger body which leads one to the investment "kill" faster just makes sense to them. At the same time, developers benefit from having access to a core market they can test out on, which creates a cosy symbiotic relationship.

"Whether we like it or not, bulk buying has been happening for the last five years, day in day out," expresses another propertwtf founder who wishes to remain unnamed. So what is there to do then, for those who are not bulk buyers? "Just join the Groupon, lah!" retorts Grewal.

Ticket Hotline

Backkom — Mon, 04 Jun 2012 08:06:44 +0800

Hey just wondering, has anyone here bought any event tickets from TicketHotline before?

Lowyat.NET: Latest topics by Backkom

Melting Pot @ Molek - Accounts Clerk

BFM 89.9 The Property Show, Friday 9.30am

LYN Mentioned in the Sun - Property Bulk Purchase

Ticket Hotline