Lowyat.NET: Latest topics by Brinkman

Best Way to Deal with "bad" Property Investment

Brinkman — Sun, 24 Feb 2019 15:29:38 +0800

Hi Shifus,

I purchased a unit of OUG Parklane (green block) at RM 460k when it was close to completion from developer. At the time of purchase, the purpose was foro wn stay and I did not do much due diligence due to inexperience. After staying for less than a year, I have to move to other place due to work reason and hence I rented out the unit at RM 1.5k per month. Obviously the rental is insufficient to cover my commitment of RM 2k per month, interest rate 4.77%.

My question will then be:
1. What is the best way to deal with this piece of property? If I am not in need of cash at the moment, should I just keep it and wait? But with rumawip and other affordable projects coming up, I wonder if waiting is the best strategy.
2. If I have some extra cash, should I put them in the loan to reduce interest paid?
3. I have received advice from a friend to refinance and reduce the monthly commitment such that rental is sufficient to cover the commitment. But that will lengthen the loan period and more interest will be paid. Should I do it?

Appreciate your advise. Thank you.

Musang King Durian Investment

Brinkman — Sun, 17 Feb 2019 16:47:01 +0800

Hi All,

I was introduced to a musang king investment scheme by a friend.

The scheme was offered by a company called eco starland (webpage here), but they do not put up the details of the scheme on their webpage.

The deal is:
you pay around RM 10k+ per tree for ownership of the tree for 40 years. The company will take care of the trees for you, after fruiting and selling the durian (you can choose to sell the durian to the company), minus the expenses, the profit is split between the company and owner. The projected profit is quite high, with full return of capital in year 7 after investment. As of now, they have acquired and cleared the land, currently planting in progress. The targeted market for the durian is to export to China, which has high demand of durian. There will be Sales and Purchase Agreement should one decided to invest.

After doing some due diligence, I think it is less likely to be a scam because there is some credibility to the management team:
1. The CEO Yirin is also involved in other businesses. One of it is Dynaplast, which although less established, but is a supporting evidence of credibility.
2. The CFO Mr Tong is quite an established farmer and he was featured in Malaysian Agriculture magazine (Issue 12). He is also the owner of Tong Seng Nursery/ Durio Farm.
3. The CFA Mr Wee is the son of Wee Chong Beng (the person who registered Durian Raja Kunyit D197 (Musang King) at the Ministry of Agriculture on 1993).

Please point out if you feel that my due diligence is insufficient/ flawed.

What makes the investment to have higher risk is:
1. The company is young (not listed) and this should be their first investment project.
2. There is no clear information on how the company is going to report profit and expenses yet, they could be reporting false numbers.
3. There is no compensation in the event of force majeure.
4. Although the company will compensate in the event of disease, but it is an unknown if they have any funding to make the compensation (say, entire plantation is wiped out by the disease).
5. Of course, it can still be a scam...

Please let me know if you think it is a viable investment, any risk that I missed out, any more due diligence that can be done, etc.

[WTS] HP Split X2 (PC Tablet with i5 processor)

Brinkman — Fri, 31 Jan 2014 19:02:03 +0800

Item(s): HP Split 13-m005TU X2

Product Spec and Details: HP Split 13-m005TU X2

Package includes: HP Split 13-m005TU X2 PC Tablet, power adapter, 8X External Slim Multiformat DVD/CD Writer, HP laptop bag, HP Care Pack extended warranty

Price: RM 1800 (Negotiable)

Warranty: 16 August 2016 (HP care pack extended warranty)

Dealing method: COD

Location of seller: Bandar Sunway, Petaling Jaya, Selangor

Contact method/details: Preferably Whatsapp or sms me, 016-three9107one6, Pm

Age of item: 5 months plus

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Item(s) conditions: Almost new and in good condition

Picture: [attachmentid=3837297][attachmentid=3837298][attachmentid=3837299][attachmentid=3837300][attachmentid=3837301][attachmentid=3837303][attachmentid=3837304][attachmentid=3837305][attachmentid=3837306][attachmentid=3837308]

Reason for sale: In need of $$