4/20/2015

Malaysia really screwing it up big time


The latest advice by Maybank about the oversupply of housing in Johore, first the Iskandar Economic Zone and now the Forest City built on 4 newly created islands with more housing available must be kind of like a thunderbolt. How are they going to sell anymore housing to the daft Sinkies? With the warning, no matter how daft the Sinkies are, they must know that things are not looking good. And there were talks of developers offering buy one get one free offer. Too good to be true or things are looking real bad, and developers are bailing out before they lost their pants?
 

The housing and commercial projects in Johore were really a very welcome initiatives and many Singaporeans were really salivating and wanting to cash out from Singapore, from their CPF, to move to Johore. There were so many comparative advantages that cannot be ignored. The advantages were real, not imaginery or fictional. It was a good deal, work in Singapore, live and rest in Johore. High income, good exchange rate, low cost, low property prices and cheap cars. The best of both worlds! The Malaysians have been enjoying it for so many years. Now Singaporeans too can have a bite of the cake.
 

Unfortunately good things don’t last. The warning by Maybank is sending shivers to many potential home buyers, even factory owners. And the developers must be trembling in fear. So much money pumped in and now the takers are fleeing. How man? What is happening man?
 

Why is Malaysia killing the golden goose before it lays its golden eggs? I can only see one reason, too many parties want a piece of the cake. The Johore royalties, the local govt, the federal govt, all must be looking at the piece of cheese like a hungry rat. Actually the Johore royalties have all the rights to get a big chunk of the pie. They started with the idea, authorized the projects, even as full participating investors. They deserved to have their profits.
 

But what about the local govt and federal govt? They would find their ways to carve a slice for themselves even undermining the whole concept that makes it viable. How could they be left out of the foodchain? Everyone in the chain must have his bite. Fair. But don’t take too big a bite that all the comparative advantages become disadvantages and turn a win, win project into a lose, lose project. The buyers are not taking the bite. The developers are losing their pants and the royalties falling flat on their faces if they don’t get the acts right.
 

Doesn’t anyone in Malaysia know simple economics or arithmatics? The buyers must have a good deal and the developers too must make their profits. The third parties, the vultures that do nothing, must be careful not to clean up the bones. This apparently is the case. If the Singaporeans, most likely the biggest group of buyers, can see benefits they would come in droves and just buy and buy, buying up everything. The present numbers could easily be absorbed if the conditions are good and make economic sense. When the cost or advantages become meaningless, what is the point? Why pay S$20 daily just to cross the causeway?
 

Singaporeans are daft. No doubt about it. But they cannot be so daft not to notice the advantages are no longer there. From now going forward the two projects would be hitting a stone wall. Well done Malaysia, for cutting your own nose when you could make a good killing and making both sides happy. You can’t believe that Singaporeans are so daft to empty their pockets in a lose, lose proposition right?
 

What’s next? Can the two projects be saved? Would they turn out to be short term mirages? Can the Malaysians work out the sums, make it attractive and make money from it? You can’t have the cake and eat it at the same time, and make the daft Sinkies pay for it? No way, in real life things are not as simple as this, stupid. You must creative value for the buyers. And don’t think you can continue to come out with nonsensical rules and regulations in the future to screw the daft Sinkies. They learnt and know the trick after a while.

23 comments:

Anonymous said...


Fear Not! Fear Not!

Not vested! But my own view about Iskandar.

The grand idea of Iskandar is a very fantastic one.

Iskandar 2030/40/50 will be "alive"!

It will be the "Golden City"!

The bldgs, factories, educational institutions, etc etc etc are aimed at singaporelangs, hoping to house our projected increases in population and also the huge number of retirees.

There will be MRT and new roads.

The state-of-art latest hydrofoils will be used to ply between Iskandar, West Coast, Harbourfront, MarinaBAY, East Coast, Changi, etc etc etc. The traveling time may be as short as 20 mins.

No over supply. No over supply!

What is needed is to Think-Out-Of-The-Box"!

Anyway, invest at own risks!

Cheers.

Anonymous said...

Knn wasting time to read your long post. I hope your dick is as at least as long as your post.

Chua Chin Leng aka redbean said...

Long enough to shaft into your big mouth.

Anonymous said...

Ya lah. They think Sinkies stupid. Pay $20 big Sing dollars just to cross the bridge daily. And if they don't collect enough, it can go up to $50 a day in the future. Seow.

Anonymous said...

Let me paraphrase redbean to make my point about opportunities in PAPig's Singapore.
-------
"Doesn’t anyone in PAP know simple economics or arithmatics? The Singaporeans must have a good deal and the voters too must make their profits.
The Millionaire politicians, the vultures that do nothing, must be careful not to clean up the bones.
This apparently is the case.
If the native Singaporeans, most likely the biggest group of voters, can see benefits they would come in droves and just vote and keep voting Opposition everything.

Anonymous said...

PAP Joke
---------
PM Lee HL: "I will be renewing my cabinet in GE 2016."

Clever Singaporean:
So when are you resigning PM Lee?

Anonymous said...

Gd to see RB getting angry. This kind of dogs deserve to get kick in btw the legs. They have joined the dark side and would even be traitors to other Singaporeans just for their pay.

Rb shuld just ask Matilah to do the necessary when Mat is bedding this dog's mother. Matilah will know what to do.

Anonymous said...

rb 4.55pm so funny!!! i guess anon 4.49 is quiet now because rb's dick is now in his mouth. hahahahaah!

Anonymous said...

9.13pm, wrong lar. I think Rb is now dickless cause Kena bitten off liao. Hehe

Anonymous said...

I think so. How does it taste like? Good?

Anonymous said...

Anon 5:46, I am asking you how does it taste like? Mouth too full cannot reply ya?

Must be caressing it in the mouth for the whole night and can't even sleep.

Anonymous said...

9.14am, taste ok lar but the dick too short and small. U may want to try mine

Anonymous said...

You so greedy. Maybe your mouth too big. Gd to know you enjoy every moment of it. Cock sucker.

Anonymous said...

10.41am, u welcome lar but knowing u like big one, that is why I offer u mah

Anonymous said...

No, I am not a pervert. Carry on with your enjoyment.

Matilah_Singapura said...

I've just spent a week recceing in Iskandar, and I must say, I do like it and am at the moment seriously considering planting "Another Flag" there.

It isn't that "over-supply" is such an issue. The main problem is the credit bubble in Johor housing, due to cheap credit.

The Malaysian govt has been borrowing money and the central bank has been printing money. You will notice the drop in the MYR. Last week I got MYR 2.7 to my very powerful SGD 1.0.

With cheap credit, developers can borrow huge amounts and build, build, build. But at some time, these loans will have to be repaid. Short-term govt debt will also have to be repaid. The eventual consequence: CHIA LAT!...aka wonderful properties at bargain prices.

The bursting of credit bubbles really only affect those who are heavily leaveraged (aka "utang money"). Many of my friends in Iskandar are there to stay, and could care less if the market goes up or down---i.e. they live in their houses which they own so they don't worry where the market is going.

Johor will grow. The Mats will make many financial and economic errors of judgement, and their racial-corruption will also come back to bite them in the pantat. Nonetheless, despite the inflation and bursting of real estate credit bubbles, Johor will prevail as long as things stay "expensive" in Singapore.

To quote Jim Rogers: "An expensive place to live is an expensive place to do business". Singapore's "success" is also Singapore's Achilles Heel. Therefore by "default" Johor is well positioned to "exploit" this weakness of the invincible Singapore.

The relationship between the House of Temenggong's Sultan Ibrahim and Singapore is EXCELLENT. So these swings in the Johor market is not going to have any bearing over the long term.

A few fuckers will default and the banks will kena. Some developers will go belly up and die. So what? Capitalism punishes the short-term greedy and rewards the long-term avaricious :-)

Chua Chin Leng aka redbean said...

The Malaysians working in Singapore just got a big pay rise without doing anything when the exchange rate for Sing dollar goes up.

Matilah_Singapura said...

I tell you those Malaysians working in Singapore are sitting sweetly lah. No wonder they keep renewing their contracts and only return to Matland when they decide to open their own business.

Whilst their cuntree is going down the toilet, thanks to Najib taking big shits and flushing, those Malaysians working in Singapore are "scoring" for themselves.

Anonymous said...

Wapiang eh.
If I kena big sweep or toto garanty I go buy many many house in malaysia leh.
Cheap good and big, chabos simple and pritty. Hardworking somemore. Not like singapore chabos no know how to cook ony know to eat. Mostly fat like pigs. Makans in malaysia lagi taste nice and my sg money bery bery tge big.

Anonymous said...

12.01 pm, like u said u don't have big mouth so I assume u small mouth. I like cause the gripe is better. Hehe

Anonymous said...

Haha anon @ 4.49 Chui Tat Lan already

Anonymous said...

Tell me when prices hit rock bottom ok ? I pour all my money there. And retire after 5 years when prices fly thru the roof

b said...

Everytime, msia gov screwed up, sg gov sure benefit. Sometimes u wonder whether they are in cahoots to con the population.