How should we judge a government?

In Malaysia, if you don't watch television or read newspapers, you are uninformed; but if you do, you are misinformed!

"If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing." - Malcolm X

Never argue with stupid people, they will drag you down to their level and then beat you with experience - Mark Twain

Never argue with an idiot, otherwise people won't know which one of you is the idiot.
Since light travels faster than sound, some people appear bright - until you hear them speak.

Why we should be against censorship in a court of law: Publicity is the very soul of justice … it keeps the judge himself, while trying, under trial. - Jeremy Bentham

"Our government is like a baby's alimentary canal, with a happy appetite at one end and no
responsibility at the other. " - Ronald Reagan

Government fed by the people

Government fed by the people

Career options

Career options
I suggest government... because nobody has ever been caught.

Corruption so prevalent it affects English language?

Corruption so prevalent it affects English language?

When there's too much dirt...

When there's too much dirt...
We need better tools... to cover up mega corruptions.

Prevent bullying now!

Prevent bullying now!
If you're not going to speak up, how is the world supposed to know you exist? “Orang boleh pandai setinggi langit, tapi selama ia tidak menulis, ia akan hilang di dalam masyarakat dan dari sejarah.” - Ananta Prameodya Toer (Your intellect may soar to the sky but if you do not write, you will be lost from society and to history.)

Wednesday, January 18, 2012

Landed property is still the best investment

I wish to refer to an article in The Star http://biz.thestar.com.my/news/story.asp?file=/2012/1/13/business/10251555&sec=business on the late Tan Sri Lee Yan Lian's lands being put up for sale.

The reserve prices of the 5 pieces of land mentioned totalled a whopping Rm415 million! The fact that Tan Sri died as early as 1983, I presume his estate was maintained for 28 years! In most cases, distributions were done soon after death, and the difference in value would have been substantial indeed!

According to the report, a 7,239-sq-ft land in the prime location of Jalan Bukit Bintang, Kuala Lumpur has a reserve price of RM50mil. (Rm6,907 psf!) The land is currently occupied by The Malaysia Hotel; 276,832 sq ft in 4th mile Old Klang Road (near the Pearl International Hotel)has a reserve price of RM90mil. (Rm325 psf); The other three parcels are located in Petaling Jaya: A 265,245-sq-ft plot in Jalan SS23/15 in Taman SEA has a reserve price of RM150mil(Rm565 psf); 82,715 sq ft in Jalan SS2/64, which is currently used as a car park, is going for RM100mil. (Rm1,200 psf); a vacant 84,315-sq-ft land made up of seven plots with old bungalows on two plots in Taman Tan Sri Lee Yan Lian in Section 16 has a reserve price of RM25mil. (Rm296 psf). I have included the price psf in brackets, based on the reserve prices.

I can still remember having attended an interview by Kingsley Yuen (LYL's son-in-law), at Lee Yan Lian Building, on Jalan Tun Perak (Mountbatten Road before) in 1971!

One of LYL's companies, Ban Lee Sdn Bhd, developed Taman Kepong Baru, Dr. Tan Chee Koon's constituency then. A number of my relatives bought shophouses and houses there.

United Garden, off Jalan Kelang Lama, is another of LYL's project. I am sure there are others elsewhere not mentioned.

If I am not mistaken, a part of Section 14, Petaling Jaya, was also developed by LYL. The two-roomed single-storey terrace houses were sold at below Rm10,000! Now, a similar house in its original condition is asking for Rm400,000! I thought Wisma LYL next to Section 14 belongs to them, but was told otherwise.

Anyway, to put in perspective, the properties now available for sale can be described as remnants of LYL's vast property holdings held for housing developments. In terms of value, I think his personal worth (in Ringgit) at the time of his death in 1983 was less than the total value of these remnant pieces offered for sale now! Just to show how much property values had appreciated over 28 years, partly because of inflation. Holding power makes a lot of difference. A generation of holding on to properties could make the rich become super rich!
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