Build, and they will come?

So, it’s finally started. The buildings are nearly done, but where’s the boom?

I hope that if you bought a unit in HH or JB, you will be staying in it, or at least intend to stay in it in the near future. It will be really difficult to sell units at a significant gain in the short/medium term for sure. To be honest, I’m pretty peeved with the Malaysian government’s lack of foresight – what kind of goondu will approve plans to build so many residential units at the same time? Like 6000 apartment units by a single developer and thousands more along the same stretch of road? And what place does a shoebox unit costing in excess of RM1million have in Johor Bahru?! JB is very far from being the capital of Malaysia. My friends, rationality has been totally thrown out of the window.

Anyway, here’s some news about how a major developer has shelved plans to build a trade hub. And here’s the PR company trying to do some media service recovery by calling a bursting bubble as “Plan B“.

The problem with investing in Malaysia is that the authorities keep changing their mind about how to develop and grow a particular area. Usually, they start off with a fantastic idea. They get people excited and pump a bunch of money into the project. Everything looks rosy, and more people buy into the idea. Halfway through, the folks on top get greedy and start veering off the original plan in view of faster and bigger profits. Corruption probably starts creeping in at this point, and the project starts going to the dogs.

Don’t get me wrong. I STILL think living in JB and working in Singapore is a great idea. With the exchange rate hitting 2.7 now, it’s even more shiok! Despite the stupid 6% GST (which I think was very badly implemented and probably half the establishments that charge the GST pocket the extra), and the increase in the tolls, life is still good here.

With the way things are going though, I just wish to warn folks who are thinking of buying to shop CAREFULLY. At this point, buying a completed unit probably would be more prudent due to the high vacancy and huge supply of units coming onto the market. It’s a rare thing in Singapore to have a developer go bust or stop building a project halfway, but it’s a very real thing here in Malaysia.

Happy hunting folks, I believe there should be some bargains coming onto the market really soon now. 🙂

Learning to be a fix-it man

It’s been slightly over 2 years since we moved into our place in HH and coming to 4 years since we signed our S&P. Time really flies! Especially so when there’s a big house to maintain on your own.

It’s kinda of funny that we actually manage our home without hired help. Considering that neither of us did much housework when we were living at our parents’ place previously. The trick, we’ve realized, is to put everything back exactly where we found it after we are done. I suppose this is pretty easy advice to follow since we don’t have kids. Lol.

Anyway, I’m writing this post because other than the mundane, there have been some more interesting things that’s happened which actually warrants a post.

So, the other day, big storm took down our TV antenna, which also smashed a couple of roof tiles in the process. Boo. Considering that we hardly watch local TV, I don’t really understand why we even bothered to install the TV antenna in the first place…but, well…I guess when it came to a new house, the general consensus was to install everything! 😛

Yeah, so the wind blew the antenna down and we kind of left it dangling on the roof for a week or 2 before seriously looking into fixing it. In fact, we would just have left the blasted thing there for longer if not for the fear of it dragging more tiles off. It was the weekend when we finally found some time to look at it, and this being Malaysia, it’s REALLY hard to get a handyman to come by on the fly. It’s a near impossibility – the country is too big, and the people are not as money hungry pro business as the folks in Singapore.

That being the case, we ended up fixing the roof ourselves. It’s not as hard as you’d imagine, and it was good fun. Yes, climbing 3 stories up was scary, but that’s exactly what the roofers have to do, and they weren’t born different from you and I.

The cost to us was just a tube of silicon and 3 pieces of roof tile..which is also next to nothing. 😛 If you EVER need to go up to your roof, be sure to do it in the early morning. If not, once the sun’s out, the roof tiles can literally cook the skin off your hands. Oh, and the corner tile shop along Nusa Bestari just after the flyover stocks the HH grey roof tiles. You need to get the right match for your tiles else they won’t fit.

Going up the roof

Apart from replacing the tiles, we took down our antenna and decided not to install another one (we have astro anyway). From the way the antenna was secured to the roof, I am pretty sure that every house’s antenna will be blown down at some point. The equipment is just too big, and placed too precariously to be able to withstand multiple storms over a long period of time. Just disasters waiting to happen, IMHO. 😛

In addition to the roof, our water tank also gave us some trouble. We got home after a long day at work (on a separate occasion) and within 30mins, we heard the pipes in our house creaking and cranking…and then wooooooossh…water gushing out from one of the pipes at the side of the house. And again, we couldn’t call anyone to come take a look because it was already past 10pm.

We ended up turning off the water mains for the night after climbing into the attic and checking there was no burst pipe. It was pretty dramatic to hear the pipes in your house creak like crazy in the middle of the night. Haha…luckily we are not superstitious people, if not I would have surely thought the house haunted. LOL!!!

Anyway, closer inspection of the water tank the next day indicated that the water float was broken. it’s kind of weird that the float would break since the house is pretty new (2 years) and neither me nor the hubs are OCD clean freaks (we bathe the average number of times as a normal person). The metal part connecting the float to the chain had just rusted off – maybe the water in JB is super acidic or something. The repair was really simple; just change the float! The float cost only rm3 and changing the float took less than 10mins!

Apart from these 2 instances, we’ve had to DIY our house a fair bit. Some of our friends thought we were crazy to try repair the house ourselves…but personally, I think most landed home owners do quite a bit of DIY themselves. And you probably should expect to have to get your hands dirty at some point if you want to live in a big space.

Our next project is to re-waterproof our RC roof. The flat top design of the roof is not great as it collects leaves and other organic debris which clogs up the pipe and prevents the outflow of water, which in turn affects the waterproofing. Wow..I think I sound like I’m a contractor after rereading what I just typed. Haha.

More home improvement projects to come! 🙂

Penny wise, pound foolish and Najib’s broken promise

So, it’s been nearly a week now since the Malaysian toll hike…and I am happy to report, the Causeway is VERY clear. I suppose this is the only positive thing that has come out from this whole ridiculous situation. Here are the new toll rates:

JB Custom tolls

And the impact on our pocket?

Private cars – 469% price increase Small lorries – 453% price increase Heavy lorries – 446% price increase Taxis – 486% price increase Buses – 478% price increase

Honestly, Singaporeans are the LEAST affected by the hike, despite the hefty increase. Namely because most Singaporeans stay in Singapore and traveling into Malaysia is optional. 1 less shopping venue for the Singaporeans, but what does it really matter?

As for those who commute (like me), this price hike on the Causeway tolls is tolerable as it is approximately the same toll rate I pay when I travel through the 2nd Link anyway. That said, Singapore has made it known that they will ALSO raise their tolls to match Malaysia’s rate….so, I’m not sure how long my earlier statement can continue to hold true.

It is the Johorians who are truly bearing the brunt of this move by the State – Businesses in Johor will suffer with less Singaporeans, Malaysians who commute to Sg (namely on work permits and mostly blue collar workers) who already don’t earn a lot will end up with higher transport costs, and investments into Iskandar will stall.

Some people have argued that the reason for imposing the toll is fair. That there is nowhere on the EDL highway to install a tollbooth. That by imposing the toll at the customs will mean fewer Malaysians get taxed than if the toll was on the EDL highway itself. Bullshit. It is grossly unfair to make people pay for something they did not and do not use. And, isn’t it the job the of government to build and maintain roads – Isn’t a portion of existing taxes paid to the State used for this purpose?

Btw, for those who are not in the know, the recent hike in toll is just Najib backtracking on his 2012 promise (before the elections) on maintaining free use of the EDL. In 2012, after the Eastern Dispersal Highway was completed to link the Pasir Gudang side of JB to town, the private company who built the highway wanted to collect astronomical tolls to recoup their expenses. Following a huge public uproar, the highway was acquired by the Federal government who promised that no tolls would be collected for the use of the EDL. Well, I guess things always change after an election. 😦

I suppose I should be happy that I don’t have to be stuck for hours in the commute anymore…but it is the way this change is implemented that scares me. When a country’s government gives scant regard to it’s own people and instead prefers to choose a quick route to line it’s coffers, it makes me wonder how much thought would they give in ensuring that foreign investors will get a fair deal. Najib better speak up and speak up quick, because I am pretty sure this (and the impending VEP) will have a large impact on how Singaporeans (who comprise of the largest group of investors in Malaysia) view the future of Iskandar.