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Showing posts with label Kuala Lumpur. Show all posts
Showing posts with label Kuala Lumpur. Show all posts

Saturday 20 April 2024

Kuala Lumpur ranked 22 in list of 100 best cities for remote work

 


KL ranked 22nd for remote work - The Star

The city to be in: Malaysia is a prime destination for employers looking for quality team members, and for many businesses to establish an Asian hub in Kuala Lumpur. — IZZRAFIQ ALIAS/The Star

KUALA LUMPUR: Kuala Lumpur made a significant leap to the 22nd position, a significant climb from its 84th place in the 2022 rankings, cementing its status as one of the premier global destinations for remote work.

This upward trajectory is mirrored by other Southeast Asian cities like Taipei, securing the 8th spot, and Bangkok, ranking 18th, according to Remote, a prominent global HR platform.

Published by Remote, the list of the top 100 global destinations for remote work showcases cities such as Madrid (Spain), Madeira (Portugal), Toronto (Canada), Auckland (New Zealand), and Tokyo (Japan) among the top 10 choices.

Factors such as quality of life, safety, internet infrastructure, cost of living, inflation, attractiveness, openness, and incentives for remote workers were meticulously considered in the analysis.

Utilising the latest data, the list aims to guide digital nomads and remote professionals in making informed decisions aligned with their personal preferences and career goals. Kuala Lumpur particularly stands out, ranking in the top five for its favourable remote work visa and incentive programs.

Remote underscores the increasing significance of selecting the right destination as remote work evolves into a lifestyle choice.

It highlighted Kuala Lumpur's appeal as a magnet for remote workers, reflecting the proactive stance of the Malaysian government in positioning itself as a prime destination for digital nomads within the ASEAN region.

The allure of Kuala Lumpur lies in its blend of a relatively low cost of living, attractive incentives for digital nomads, and the availability of fast and reliable internet services. Nonetheless, factors such as quality of life and openness have also played a pivotal role in shaping its overall ranking, it said.

Job van der Voort, co-founder and chief executive officer of Remote, highlighted the transformative nature of remote work, enabling professionals to sustain careers in environments that inspire productivity and balance.

This year's list reflects not only the best places for remote living and working but also the evolving needs of remote professionals in a post-pandemic world, he said.

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Tuesday 7 January 2020

Mobile coverage snag as uers in many areas face connectivity issue while Malaysia moves into 5G era!

Pix for representational purpose only.

While Malaysia strives to move into the 5G era, the current 4G mobile network connectivity is still found wanting in many areas in the country, including the Klang Valley.

Mobile users in areas such as Taman TAR in Ampang, Jalan Damai Jasa in Alam Damai, Cheras Hartamas and certain areas in Subang, Selangor, face connectivity issues.

Wong Sew Kin, a senior lecturer at the Faculty of Engineering, Multimedia University, said there are areas within the Klang Valley that face a drop in network signals.

“Even places near my house in Bukit Beruntung, Rawang, have no signal at all let alone the internet,” he said, adding that more needs to be done for telecommunications infrastructure in Malaysia if it is to be on par with nations such as Singapore and China.

“We are venturing into 5G now but there are still problems with connectivity. We should address this to solidify our mobile network infrastructure so that we are able to make quick and steady advancement without having to worry about minor issues. It is important that we iron out the kinks.”

He added the lack of network signals can be attributed to the lack of base stations, or simply known as telco towers, in certain areas.

“As far as I know, the building of base stations has nothing to do with the government as it’s usually up to the telcos and they prioritise providing network connectivity in highly populated and commercial areas.

“However, the government can play its part by providing incentives for telcos to set up more base stations to ensure that we are fully connected,” he said.

Anusha Ravi, a resident of Alam Damai in Kuala Lumpur, told theSun she often has to direct her e-hailing drivers through the phone to her residence as the drivers are unable to use navigation apps due to the poor network signal.

A resident of Taman Billion in Cheras, Kuala Lumpur, said he has faced poor network coverage for years despite being close to commercial areas.

“I have complained about this many times but nothing has been done,” he said, adding that he has to walk some distance away from his house just to make a call.

However, another expert who declined to be named, specialising in base station construction and installation, said the government is already doing all it can to ensure connectivity.

“The government, through the Malaysian Communications and Multimedia Commission’s Universal Service Provision fund, provides contractors and telcos opportunities to develop network infrastructure and connectivity in under-served areas, especially rural places.

“To my knowledge, sometimes we face issues such as a drop in network signals due to lack of base stations within a certain range. Sometimes there is no land to build base stations in between.”

Telcos sometimes face problems when planning to build base stations due to protests by residents in the area.

For instance, residents in Taman Sri Puteri, Bayan Lepas in Penang, successfully lobbied for the removal of telco towers in their area recently.

Among their reasons was that the towers were too close to their homes and thus were a health hazard.

Tutela, an independent crowdsourced data company, noted in its “State of mobile Networks 2019: Southeast Asia” report last year that Thailand beat Malaysia in a test where a mobile connection was good enough for basic internet usage.

The Philippines and Indonesia came out third and fourth.

“All four countries in the report are relatively close when it comes to basic quality. Thailand takes first place, with users able to make a voice over internet protocol call – a technology that allows you to make voice calls using a broadband internet connection or check emails at least 92.5% of the time when connected to one of the country’s networks.”

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Read more: 

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The battle over 5G network suppliers is part of a broader push by the Trump  administration to check China's rise as a global technology powerhouse.PHOTO: REUTERS 

 

New decade, new Malaysian education: For the sake of our children and our future, Mazlee’s replacement should be a qualified and capable

 

Saturday 3 February 2018

Jack Ma's Alibaba to take on Kuala Lumpur’s traffic Artificial Intellligence project

Alibaba Cloud, which set up a datacentre in Malaysia last year, is considering a second one to further develop a local ecosystem, its president Simon Hu said. — Reuters

https://youtu.be/MwixREUJOI0

Jack Ma's Life Advice Will Change Your Life (MUST WATCH) 

https://youtu.be/lYGGpc2mMno

KUALA LUMPUR: Alibaba Group will set up a traffic control system harnessing artificial intelligence for Malaysia's capital Kuala Lumpur, its first such service outside China, as the e-commerce giant pushes to grow its cloud computing business.

Alibaba Cloud, the cloud computing arm of Alibaba Group, said on Monday it plans to make live traffic predictions and recommendations to increase traffic efficiency in Kuala Lumpur by crunching data gathered from video footage, traffic bureaus, public transportation systems and mapping apps.

It is partnering with state agency Malaysia Digital Economy Corporation (MDEC) and the Kuala Lumpur city council to roll out the technology, which would be localised and integrated with 500 inner city cameras by May.

The partnership comes after Alibaba founder Jack Ma and Malaysian Prime Minister Najib Razak launched an "e-hub" facility last year, part of an initiative aimed at removing trade barriers for smaller firms and emerging nations.

Alibaba Cloud, which set up a data centre in Malaysia last year, is considering a second one to further develop a local ecosystem, its president Simon Hu said on Jan 29.

He declined to elaborate on the company's total investments made and planned for in Malaysia, but said it was "no small amount" and that the investments would continue if there was demand for cloud computing technologies.

MDEC's chief executive officer Yasmin Mahmood said there was no estimate of City Brain's impact on traffic in Kuala Lumpur yet. The traffic management system in the Chinese city of Hangzhou had resulted in reports of traffic violations with up to 92% accuracy, emergency vehicles reaching their destinations in half the time and overall increase in traffic speed by 15%.

Najib has forged close ties with China in recent years. Last year, the Malaysian leader announced a slew of infrastructure projects, many funded by China, as he worked up momentum towards a general election he must call by the middle of this year. — Reuters

Related Alibaba To Take On Kuala Lumpur's Traffic In First Foreign Artificial Intelligence Project

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Jack Ma advisor to Malaysian Govt on digital economy to start with e-FTZ

Saturday 24 September 2016

Canny Ong murder case remember? Killer Ahmad Najib finally hanged at Kajang prison


Ahmad Najib Aris (center). - Filepic

PETALING JAYA: After spending 11 years on death row and having exhausted all his appeals, Ahmad Najib Aris (pic) was finally executed for the 2003 murder of Canny Ong.

The former aircraft cabin cleaning supervisor, who killed Ong after abducting her from a shopping complex in Bangsar, was hanged early yesterday.

A Kajang prison spokesman said Ahmad Najib, 40, was executed at about 6am and his body was later buried at the Sungai Kantan Muslim cemetery in Kajang.

He said Ahmad Najib was allowed to meet his family members for the last time on Thursday.

Ahmad Najib’s former lawyer Mohamed Haniff Khatri Abdulla described him as a “good Muslim” while in jail.

He said prison officials had told him that Ahmad Najib became a good Muslim, and often led prayers in jail and also taught other inmates about religion.

“To me, at least the time he was in prison, he was a better person than many outside,” he told The Star.

Ahmad Najib was sentenced to death by the Shah Alam High Court on Feb 23, 2005, for murdering Ong, then 28, at the 11th kilometre of Jalan Klang Lama between 1am and 5am on June 14, 2003.

He was also given the maximum jail term of 20 years and ordered to be given 10 strokes of the rotan for raping Ong.

In March 2009, the Federal Court upheld his death sentence for the crimes committed against Ong, whose charred remains were found in a manhole near a highway construction site.

Ong, an IT-analyst living in the United States with her husband Brandon Ong, was back in Malaysia to visit her ailing father.

On June 13, 2003, a day before she was due to return to the United States, Ong went out for dinner with some family members and close friends at the Bangsar Shopping Complex.

After the meal, she went to the basement car park to retrieve the parking ticket from her car. She asked her mother and sister to wait for her by the autopay machine.

Ong never returned.

After waiting for 20 minutes, Ong’s mother Pearly Visvanathan Ong and her sister decided to look for her in the car park.

When they went down they found the car, a purple Proton Tiara, missing.

Sensing something bad had happened to her daughter, Pearly ran to the mall’s security office to view the CCTV tapes.

The tapes confirmed their worst fears. They saw Ong being abducted by a man who drove off with her in her car, crashing past the exit barrier of the car park.

Days later, Ong’s charred remains were found in a manhole along Old Klang Road in Kuala Lumpur.

Forensic and criminal investigators found evidence that led to the arrest of Ahmad Najib.

The news of Ong’s murder was covered widely by the media and followed intently by the public.

The randomness of the crime – Ahmad Najib had no apparent motive – made it all the more horrific and prompted many unsolicited and baseless conspiracy theories much to the dismay of Ong’s loved ones.

by Jastin Ahmad Tarmizi The Star/Asia News Network

Related post:

Canny Ong's murderer hanged

A need to invest in security
Jul 13, 2012 ... ... of probably the most-publicised case of car park abduction and assault in the country. ... Canny Ong, after being abducted in Bangsar, was raped, murdered ..... Moneylender gunned down in broad daylight in Kuala Lumpur.

Friday 23 September 2016

Xiamen University shaping up to be the largest foreign university campus in Malaysia

 Xiamen University Malaysia Campus

Video: First ever Chinese overseas campus opens in Kuala Lumpur
CCTV News - CCTV.com English http://english.cctv.com/2016/09/23/VIDEQAcbMXh1wwYcpf2mzJGF160923.shtml#.V-S9c6xl6C4.twitter

In Malaysian capital Kuala Lumpur, students have this week been enrolling at the first Chinese university to open a campus overseas.

Officials feel it is more than just an educational ventune, it is also a way to advance good relations between China and its southeast Asian neighbors, as well as promoting the inclusive Belt & Road initiative.

A specially chartered Xiamen Airlines plane brought this special, first group of students to Kuala Lumpur. In all, 440 students from 14 Chinese provinces will be arriving this week to take their places at the emerging new campus of Xiamen University in Malaysia. They all scored top marks in China’s university entry exams and chose to be part of this pioneering educational venture.

“In terms of the quality, in terms of the size of the batch of students, and in terms of the procedures, this is unprecedented in terms of Malaysia’s tertiary education history. So it’s really a big day for us too,” said Professor Wang Ruifang President, Xiamen University Malaysia.

A specially chartered Xiamen Airlines plane brought this special, first batch of students to Kuala Lumpur.
A specially chartered Xiamen Airlines plane brought this special, first batch of students to Kuala Lumpur.

It’s also a big day for the students.

“First is excited, because it’s an opportunity for me to develop, and it’s an opportunity for me to enjoy the cultural diversity,” said Zhu Wen, student, Xiamen University Malaysia.

The Chinese students will join students from Malaysia and later around South East Asia. Numbers will eventually swell to 10,000 at what is shaping up to be the largest foreign university campus in Malaysia. All courses will be taught in English, except for Chinese studies and Traditional Chinese Medicine.

At a recent meeting with Southeast Asian leaders, Chinese premier Li Keqiang said China wants to strengthen its relationship with ASEAN in a number of key areas, including people to people ties, and in particular, education.

The university says it hopes to advance that aim as well as China’s One Belt, One Road initiative, something the Chinese students are well aware of.

“The Malaysia campus is based on China’s Belt and Road initiative so I think to come to the Malaysia campus is to put our hands on the ark of history and combine historical process and our personal development together,” said Wu Hanyang, student.

A lofty goal, perhaps, but in keeping with what this campus is really about: Meeting the highest academic standards while helping China and ASEAN deepen their social, cultural, strategic and economic cooperation.

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Sunday 22 November 2015

Kuala Lumpur property: KSK Land ups the ante with iconic 8 Conlay

KSK Group Bhd chairman Tan Sri Kua Sian Kooi with daughter Joanne who is KSK CEO & KSK Land Sdn Bhd MD

Flexibility: 8 Conlay units have the flexibility that allows residents to live their story the way they desire.

Fresh from announcing that its branded residence for Tower A at 8 Conlay project will be sold at a record RM3,200 per sq ft, Kempinski Hotel Kuala Lumpur has now been recognised under the Government’s Economic Transformation Programme.

IF 8 Conlay’s RM3,200 per sq ft (psf)selling price has set tongues wagging for possibly setting a new pricing record in luxury living, here is another development to add to the several “firsts” the project has notched since it was announced some two-and-a-half years ago.

Kempinski Hotel Kuala Lumpur, which is a component of 8 Conlay, has been recognised as an entry point project under the Tourism National Key Economic Area (NKEA) of the ETP - the Government’s initiative to propel the economy into high-income status by 2020.

Kempinski Hotels, Europe’s oldest luxury hotelier, is the hospitality partner of 8 Conlay’s owner and property developer KSK Land Sdn Bhd.

The hotelier will provide services for the project’s branded residence towers as well as manage the hotel tower.

“We got it (the endorsement) recently,” declares a proud Joanne Kua, who is the managing director of KSK Land.

According to the 30-year-old, the recognition is a sign of “quality assurance” that will place 8 Conlay on the global map.

“Even though we are in the ETP because of Kempinski Hotel Kuala Lumpur, Kempinski is also servicing our branded residence.

“This means there is a level of service that we need to adhere to for the entire development. This has always been what we have been reiterating at KSK Land, where every development we undertake has to be of good quality, and the service we provide to customers is always on top of our minds,” Joanne tells StarBizWeek.

“Being the owner of Kempinski Hotel Kuala Lumpur, we are proud to be pushing the boundaries by bringing the Kempinski brand into the Malaysian market because we are one of the few - if not only - fully integrated branded residence developments in the KLCC area.”

Kempinski Hotel Kuala Lumpur is slated to open its doors in 2020, coinciding incidentally with the planned “Visit Malaysia Year” in that same year.

In terms of numbers, Kempinski Hotel Kuala Lumpur is projected to bring in RM19.8mil in gross national income or GNI in the year 2020, which is expected to grow in the following years. Job-wise, the hotel is expected to create some 780 employment opportunities when it opens its doors in January 2020, while committed private investments amount to RM360mil, shares Joanne. This RM360mil is the cost of developing the hotel minus the land cost.

Shedding more light on the ETP recognition, the KSK Group director for corporate strategy and investments Pankaj C Kumar says that these numbers have been audited by the panel of auditors at the Performance Management and Delivery Unit or Pemandu, the driver of the ETP initiative.

“We started engaging with them early last year. Under the ETP’s Tourism NKEA, the Government’s plan is to increase the number of four- and five-star hotels, as well as increase the room rate in Malaysia, which is still relatively lower as compared to the region. They also want to create more vibrancy within the KLCC and Bukit Bintang areas,” says Pankaj.

Kempinski Hotels chief executive officer (CEO) Alejandro Bernabé says the ETP recognition raises the profile of its upcoming hotel in Kuala Lumpur. “For us, this creates even bigger expectations not from the construction point of view, but from the deliverance of (service) expectations. With the opening of the hotel in 2020 coinciding with a planned Visit Malaysia Year, we have to ensure we get it right from day one, as we cannot afford to let the honour of the country down,” he says in the joint interview. Bernabé was in town for the launch of 8 Conlay’s signature sales gallery on Wednesday. During the launch, phase one of 8 Conlay’s branded residence units known as YOO8, serviced by Kempinski, was officially open for sale. A private viewing for a select few of around 200 comprising the who’s who of the corporate circle was held on the same evening of the launch.

With piling works having begun at the four-acre site, it seems to be all systems go despite the expected slowdown seen in the property sector by analysts.

And in what is seen as a “coup of sorts” in positioning and differentiating 8 Conlay, the company has teamed up with the crème de la crème of brand partners like internationally-celebrated design company YOO, local architect Ar Hud Bakar and Bangkok-based landscape design firm TROP other than the world-class hotel management services of Kempinski.

8 Conlay unveiled

8 Conlay owes its name to the auspicious address it sits on in Kuala Lumpur’s Golden Triangle. The development comprises of two YOO-interior designed branded residence towers of 57- and 62-storey blocks that will be connected via two sky bridges on levels 26 and 44. The development is complemented by a 68-storey five-star Kempinski Hotel, serviced suites and a lifestyle retail component.

YOO8 comprises two spectacular towers of 1,062 luxury branded residence, ranging from one to three-bedroom units.

Tower A of YOO8 will feature 564 units covering 700 square feet to 1,308 square feet selling at an average price of a whopping RM3,200 psf.

According to the company, 70% of Tower A has been reserved, with 80% comprising Malaysians.

Meanwhile, Tower B of YOO8 will feature 468 units to be launched some time next year.

Can 8 Conlay usher KSK into the competitive world of property?

8 Conlay’s selling price of RM3.200 psf, which is RM500 psf higher than the indicative RM2,700 psf it was only recently looking at, begs the question of whether it can sell in a soft market. Being the maiden venture for KSK Land, all eyes are on the company and its young and petite head honcho, Joanne. After all, 8 Conlay’s entry into the branded residence space is coming after a hiatus of similar launches in the city.

Joanne: ‘Price is reflection of interest.’
Joanne: ‘Price is reflection of interest.’

KSK Land is the property arm of KSK Group Bhd, which has insurance as its other core business. KSK Group was formerly known as Kurnia Asia Bhd that was privatised in 2013.

Joanne, who is also KSK Group’s CEO, is the daughter of the 62-year-old KSK patriarch and executive chairman Tan Sri Kua Sian Kooi.

While Joanne is playing a bigger role as the face of property in the KSK stable, it is no secret that senior Kua remains the driving force of the group.

KSK had sold its Malaysian insurance business in 2013 and diversified into property in the same year. It still operates insurance businesses in Thailand and Indonesia.

A quick check with property consultants indicate that the Banyan Tree branded residence is being transacted at prices between RM2,500 and RM3,000 psf, while St Regis was approaching the RM3,000 psf mark as at July estimates.

As for Four Season’s Place, a property consultant puts the going figure between RM3,000 and RM3,500 psf. “At RM3,200 psf, 8 Conlay is trying to position itself in the likes of Four Seasons. However, Four Seasons sold its units much earlier and it would be interesting to see if 8 Conlay is able to match Four Seasons, given the current market situation,” says the property consultant.

Joanne, however, remains optimistic that 8 Conlay would do well and prove the sceptics wrong.

“The price is a reflection of interest coming from the market. At the same time, if you were to compare what’s around the KLCC area, the pricing will justify the product.

“In terms of value, our location on Jalan Conlay is a strong point as in the branded residence market, buyers buy for location, which itself is capital preservation,” she says, pointing out that branded residences command a 30% higher value than luxury apartments based on a recent Knight Frank report.

Bernab: ‘Kempinski Hotel Kuala Lumpur in the ETP raises the hotel’s profile.’ Bernabé: ‘Kempinski Hotel Kuala Lumpur in the ETP raises the hotel’s profile.’

The disproportion between local and foreign buyers is due to the lack of marketing so far. “With the launch of the sales gallery, we are only now officially going out to market. We are eyeing all major cities like Singapore, Shanghai, Beijing, Taipei, Korea, Hong Kong, Japan and the Middle East.”

The project is eyeing an equal spread of local and foreign buyers.

Locally, she shares that interest has been coming from surprisingly “young professionals who are well-travelled and know of Kempinski”.

“A branded residence is something one buys for capital appreciation for the long term. The buyers are a discerning lot and yearn to have a certain lifestyle.”

In terms of benchmarking, Joanne says that 8 Conlay is being benchmarked with other similar branded residences around the world and that prices in Malaysia are still relatively on the low side.

“If you look at branded residences in London, they are really about infusing three components. One is a five-star luxury service provider which you cannot deviate from. The second is the design element. When you partner a good name for design, buyers feel “safe” knowing that what is to be given is of a certain quality and level.

“The third is the architecture component, which often tends to be overlooked. But people who buy a branded residence are discerning buyers who look for offerings that are limited and unique.”

A unique proposition

Joanne describes it as providing a seamless experience for buyers all the way from the outside to the inside.

“When the thought process began to develop 8 Conlay, we looked at the branded residence space around the world and asked ourselves what was really available here. This is when we decided that we had to differentiate ourselves from the rest and would be able to do it,“ says Joanne.

This in essence sealed the company’s partnership with Kempinski. “What is unique about Kempinski is that in every hotel in the different cities it operates, there is a combination of its heritage and the owner’s identity, which I think is a strength many hoteliers don’t have. That’s one of the reasons why we like Kempinski because of the flexibility that allows for both parties’ personalities to stand out. That makes a very good hotel,” says Joanne.

She shares that the affinity to Kempinski is not altogether a new idea to KSK.

“The (Kua) family has had experience with staying at different Kempinski Hotels as we travelled a lot. So, when we were looking to partner a hotelier, Kempinski naturally popped into our chairman’s mind fairly quickly,” she says.

At the same time, Kempinski was also scouting for opportunities in Kuala Lumpur as part of its expansion into this part of the region.

Water theme: A unit designed around the ‘water’ element. Upon entering, one is treated to the magnificent view of KL City Centre beyond the foldable doors. Water theme: A unit designed around the ‘water’ element. Upon entering, one is treated to the magnificent view of KL City Centre beyond the foldable doors.

“Kempinski is quite exclusive. We choose our projects very carefully and make sure we work with partners that share the same common values.

“We are looking for exclusivity and authenticity and benchmark ourselves with the top residences in the world because customers who buy these residences have choices being well-travelled,” adds Kempinski’s Bernabé.

He reckons that having other branded hotel residences around 8 Conlay is not competition, but rather a good thing for the person who lives there because “if you live in a branded residence, you would want your neighbourhood to be of the same calibre”.

Drawing strength from brand partners

Joanne says 8 Conlay’s strength is the diversity of the international brand partners it has teamed up with, which would serve as an advantage as it markets overseas.

“Tower A is designed by Steve Leung and YOO. Steve Leung is akin to the “Andy Lau of design” in Hong Kong and China, while Kempinski has a strong presence in the Middle East and China,” says Joanne.

“For interior design, we have YOO which is not new to the branded residence segment. It knows what it means to take on the little details that people don’t see in space optimisation. This is why we market our residence fully furnished because that is the strength we want to show in one of our brand partners.

“And as far as the Kempinski name for service is concerned, you can only experience it if you have stayed in one of the Kempinski Hotels and understand the service standard it brings to the table.”

Incidentally, for Kempinski, YOO, Steve Leung and TROP, this is their first time in Malaysia. “The good thing about this is that it gives us a fresh pair of eyes, where we can innovate and do something different.”

Joanne says the company is also not strategising to compete with other players for its retail component. “In fact, we like it that Pavilion is close to us because it provides options for our buyers.

“We are not building a mall, we’re building a retail lifestyle quarter. We are going with the design first, as it needs to complement the whole development and be an attractive point on its own,” she says.

Taking a leaf out of its insurance book

Joanne believes that 8 Conlay’s unique concept will pan out as planned.

“When we conceptualised the project, our chairman Tan Sri Kua made it clear that he wanted to grow into a conglomerate. It’s not that we woke up one morning and decided that we wanted to go into property. The root of our business is in insurance, which is a long-gestation project. There is no denying that property is also for the long term, so there is no right or wrong time to go into this business.

“In insurance, we come from a base where it is all about customer service. So, when looking at property, we also looked at it from a completely different angle ... we put ourselves in the customer’s shoes and decided what we could do differently.

“When we decided which direction we wanted to go into in property, the message was very clear - to make sure we added value to the customer.”

“Creating extraordinary living spaces is what we do. KSK Land is formed on this philosophy and our job here is to create something extraordinary for 8 Conlay.”

On her taking on a mammoth project at a relatively young age, Joanne says she does not see her role from a gender perspective. “Any CEO would face the same challenges as me. The important thing is mutual respect, and in KSK, we are a family. We work together and celebrate together.”

By Gurmeet Kaur The Starbiz

Related posts:

13 Apr 2014
New kid on the block: Singapore's 'shoebox king' Oxley spices up Kuala Lumpur a record RM3,300 per sq ft. IN just 10 months, Singapore-listed Oxley Holdings Ltd has quietly amassed a gross development value (GDV) of ...


Friday 1 August 2014

Property prices in Malaysia to continue to increase, says REHDA

Property prices in Malaysia will continue to increase due to the supply and demand factor as well as the high land cost, according to Real Estate and Housing Developers Association (Rehda) president Datuk Seri FD Iskandar Mansor.

Notably, the average annual housing completion stood at 100,000 compared to the average annual household formation of 140,000, revealed the National Property Information Centre.

According to Iskandar, who also serves as managing director and chief executive officer of Glomac Bhd, the public have the misconception that developers are responsible for the rising property prices.

He explained that it is impossible for developers to maintain or lower the selling price for new launches due to land cost and high conversion premium, which has recently increased by up to 300 percent.

He also noted that the cost of doing business has been expanding each year, and, unlike before, developers no longer enjoy the 30 percent profit margin.

In fact, developers now only make around 15 percent profit margin because of high development and infrastructure charges, compliance cost, stamp duty and quit rent.

Moreover, land is getting scarce and more expensive.

“In early 2007, when Glomac bought land nearby the Petronas Twin Towers, the seller asked for RM1,000 per square feet (psf) but we wanted to pay only RM600 psf. I knew what we wanted to build on it so we paid RM1,000 psf,” said Iskandar.

“Now, that same piece of land is worth RM3,500 psf and the value of the building has risen. Land cost has tripled in the last seven years.”

Source:


 
Related post:

New kid on the block: Singapore's 'shoebox king' Oxley spices up Kuala Lumpur a record RM3,300 per sq ft

Sunday 13 April 2014

New kid on the block: Singapore's 'shoebox king' Oxley spices up Kuala Lumpur a record RM3,300 per sq ft

IN just 10 months, Singapore-listed Oxley Holdings Ltd has quietly amassed a gross development value (GDV) of close to RM10bil in Malaysia.

That’s RM1bil for every month since it first bought land in Kuala Lumpur last May – a tough act to follow even for the most seasoned developer.

And it isn’t stopping there.

Known as the “shoebox king” in Singapore, Oxley has hired former Selangor State Development Corp (PKNS) general manager Datuk Othman Omar as CEO of its Malaysian operations, indicating its seriousness in making Malaysia a core market.

Oxley now has on its plate 15 projects outside of Singapore – one in the UK, four in Cambodia, two in China and eight in Malaysia.

Only a month into the job, Othman already has his hands full with enquiries from landowners for joint-ventures, as well as expressions of interest for properties that Oxley Malaysia is yet to launch.

“Oxley has the brand name and database of buyers. However, we have to careful with whom we work with,” he tells StarBizWeek.

“You’ll be surprised at how many land pockets there are in Kuala Lumpur. We must be selective with not just the location, but also the business model.”

Othman, who studied civil engineering in Tasmania, had helmed PKNS for five years until his contract expired on Jan 31, injecting a much-needed private sector efficiency into the state-owned unit.

Under his watch it even achieved a record profit in 2011 of RM420mil.

He had had a stellar run in PKNS at least until the end of his term, when it became clear that he and Selangor Menteri Besar Tan Sri Khalid Ibrahim could no longer see eye-to-eye.

Before his contract expired, Othman was removed as general manager and transferred to the state secretariat to facilitate an investigation over the controversial sacking of Parti Keadilan Rakyat deputy president Azmin Ali as a PKNS board member.

But all that is water under the bridge now for Othman. He looks eager to have work for his hands again, after taking a short break in February to perform the umrah.

While he hesitates to delve into project details due to the sensitivity of ongoing negotiations, property sources say Oxley Malaysia’s landbank includes parcels on Jalan Ampang worth RM2.5bil-RM3bil, Jalan Hang Tuah (RM3bil), Section 16, Petaling Jaya (RM900mil), Beverly Heights in Ampang (RM900mil), Seputeh (RM120mil), Medini in Johor’s Iskandar Malaysia (RM1bil) and Fettes Road, Penang (RM1.5bil).

More JVs with landowners are understood to be in the pipeline.

Quick turnaround

According to Othman, Oxley favours integrated developments and a “quick turnaround”.

“The margins may not be as high (if turnaround is fast), but the banks love us because of our cashflow. That kind of velocity also reduces our finance and holding cost, and we don’t need to wait for years to realise the profits.

“We are aiming for affordability – build it fast and sell it cheap.”

Oxley made headlines here in November when it acquired a prized stretch of land along Jalan Ampang in Kuala Lumpur from the Loke Wan Yat estate for some RM450mil, or a record RM3,300 per sq ft.

The project – which will comprise a mall, two luxury hotels, serviced residences, offices and a theme park – is a stone’s throw from KLCC and opposite from Corus Hotel.



Big name investors such as Lembaga Tabung Haji, BlackRock, five-star hotel chains Jumeirah and Waldorf Astoria, and theme park operator Sanderson are speculated to have shown an interest in the development, industry executives say.

On Jalan Hang Tuah, Oxley Malaysia is planning residences and a three- or four-star hotel with 350 rooms and retail space.

The land, acquired by a local company in a government tender, is across the road from the Hang Tuah monorail and LRT stations.

Oxley’s plot in Section 16 near the Phileo Damansara commercial complex could feature residences starting from RM650 per sq ft and some retail space to serve a proposed three- or four-star business hotel.

Othman says he may delay sales for Robson Heights, an 80-unit premium dwelling in Seputeh in the vicinity of Mid Valley Megamall, given the current soft market conditions.

Depending on the market, Oxley Malaysia could roll out the Jalan Ampang, Jalan Hang Tuah and Section 16 properties this year, he adds.

“We’re already seeing strong interest in the Hang Tuah project from en bloc buyers. Some have offered to take up 50%. But we need to make sure they aren’t speculators,” Othman quips.

This is a lot to handle for the new kid on the block. Can Othman take the heat?

“Our competition is not the other developers,” he replies coolly. “It’s what we don’t know yet.”

Former PKNS chief Othman now CEO of Oxley”

PETALING JAYA: Barely a month after leaving the Selangor State Development Corp (PKNS), Datuk Othman Omar (pic) has been tapped by Singapore-listed developer Oxley Holdings Ltd to head its Malaysian operations as CEO, overseeing eight projects worth almost RM10bil in gross development value (GDV).

According to a stock exchange filing last Friday, Othman, 54, was appointed CEO of Oxley’s wholly-owned subsidiary, Oxley Holdings (M) Sdn Bhd, on March 1.

Othman, a civil engineer by training, had previously served as general manager of PKNS for five years until his contract expired on Jan 31.

Oxley, which has a market capitalisation of S$2bil (RM5.22bil), was listed on Singapore’s Catalist Market in Oct 2010 before transferring to the Mainboard in February last year.

The firm, better known for its shoebox apartments in Singapore, made headlines here in November when it bought a highly-coveted piece of land along Jalan Ampang from the Loke Wan Yat estate for some RM450mil, or a record RM3,300 per sq ft.

Images for KLCC Wisma Central, Restaurant Chef Choi ...

The prime freehold land, down the road from KLCC and sandwiched between Wisma Central and a Chinese temple, is currently occupied by Restaurant Chef Choi, Nasi Kandar Pelita and four bungalows.

Property sources told StarBiz that Oxley’s estimated RM9bil-RM10bil portfolio in Malaysia included the Jalan Ampang project with a GDV of RM2.5bil, developments in Jalan Hang Tuah and Medini Iskandar worth RM3bil and RM1bil, respectively, and others in Selangor and Penang.

Under Othman’s watch, PKNS implemented a full open tender system in 2010, which resulted in savings of RM100mil a year.

He had also inked integrity pacts with PKNS’ vendors and the Malaysian Anti-Corruption Commission, even as he sought to inject private-sector efficiency into the otherwise staid government-linked corporation (GLC).

But towards the end of his term, Othman fell out with Selangor Menteri Besar Tan Sri Khalid Ibrahim over the running of PKNS.

Before his contract expired, Othman was also removed as general manager and transferred to the state secretariat to facilitate an investigation over the controversial sacking of Parti Keadilan Rakyat deputy president Azmin Ali as a PKNS board member.

Still, sources close to Othman claim he had not been short on job offers from other GLCs and listed firms in Singapore and Malaysia.

For the six months to Dec 31, 2013, Oxley saw its net profit surge 15 times to S$275.9mil (RM720.1mil) from S$18mil (RM46.98mil) in the same period a year ago, while revenue jumped 709% to S$888.2mil (RM2.32bil) from S$109.8mil (RM286.84mil) on progress billings for various developments in Singapore.

Contributed by John Loh The Star/Asia News Network

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OXLEY TOWERS
An artist’s impression of the Oxley Tower in Kuala Lumpur. The average launch price for its serviced apartments are expected to be around RM3,000 per sq ft.

More images for KLCC Wisma Central, Restaurant Chef Choi, four bungalows

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