Braced for a property glut February 8, 2015 bizadmin Everyone talks about rising residential property prices and high rentals because of rising demand and speculative activities. Now they are talking about the impact of GST too. IS a glut in residential property or a slowdown imminent? IFCA MSC Bhd chief financial officer Daniel Chow seems to think so. Chow was an invited speaker at a significant property event last week where one of the key speakers showed that actual sales last year for all the major players in the industry, except for one, was much lower than their forecast. “Everybody recorded negative. There was only one exception. The fundamental rule on economics is demand and supply. When there is oversupply, this is what happens. “How much is the population growth in Malaysia? Less than 3%. And how much is your purchasing power growth? On average 6% to 7% year by year. “But the increase in the supply of property is double digit every year. How can you expect the market to absorb all this? There is a limit,” he says in an interview. For him, the introduction of the GST in April is not going to cause a spike in prices from April to December.
Rest in Peace, Karpal Singh April 18, 2014 bizadmin Rest in Peace, Karpal I was shocked to learn of Karpal Singh’s untimely death yesterday morning in a road accident along the North South Highway. Apparently the accident happened in the wee hours of the morning at 1:00am as he was coming back along with a group to attend a court case in Penang. Now, all that is gone. I don’t know if his lawyer son will take over his lawyer office in KL. Karpal has contributed a lot to the nation, speaking up and defending the people, while fighting against corrupt leaders. The Tiger of Jelutong, will finally rest in peace and may eternal light shine upon his soul. His father also passed away in India in an accident and I hope his sons will be spared from this generational mishap. I hope is family and wife will be strong during this difficult period and continue in the fight against injustice.