I am not a Malaysian citizen or resident, can I buy property in Malaysia?
Yes, you can buy any type of property in Malaysia, be it condos, bungalows or even land. You can buy both residential and commercial property in your own name, or your company for that matter. Foreigners are subject to the property being over a minimum price theshold, which varies from state to state.

Are there differences in the buying process when a foreign buyer is involved?
Yes, a foreigner must obtain state authority consent before the property can be transferred to him/her. This can take 6 weeks to 6 months depending on the state you are applying in (in Kuala Lumpur it typically takes 1-2 months), so it takes that much longer for a foreigner to buy property compared to a local buyer.

Does the Malaysia My Second Home Program offer any advantages when buying property in Malaysia?
No, it makes no difference to the buying process whether you are on the Malaysia My Second Home Program or not.

Are there differences in the sale process when a foreign seller is involved?
No, there are no differences. The process is the same as when a local buyer is involved.

I do not live in Malaysia, can I sign the Sale and Purchase Agreement in my country of residence or will I have to come to Malaysia to sign?
You can sign the Sale and Purchase Agreement at the Malaysian High Commission in your country of residence and do not therefore need to travel to Malaysia to sign. In certain countries it is not necessary to go to the Malaysian High Commission – instead a notary public can witness the signatures.

I am not a Malaysian citizen or resident, will banks give me financing? Can I open a bank account in Malaysia?
Yes, many Malaysian banks or foreign banks in Malaysia now lend to foreigners. They will typically finance up to 70-80% of the property price, and will sometimes, but very rarely, go as high as 85% if you are a very strong credit, the property value is significant, and you are speaking to the right bank. You will normally have to open a bank account with the bank financing your property purchase.

I do not live in Malaysia, can I rent out my property from abroad?
You can engage estate agents to market the property for rental on your behalf. They will take care of all the viewings. Some agents even offer renovation or maintenance services.

I do not live in Malaysia, how can I find a lawyer in Malaysia?
The Malaysian Bar website (www.malaysianbar.org.my) has a list of all registered lawyers and firms

• Rental: Buyer is always referring to the rental of the property to determine the selling price. Therefore, manage your property well; rent it out at good price with quality tenant. This will be good first step moving forward to sell your property at higher price.
• Decide the style for your property: Different styles will attract different type of investor. Do look into fengshui, renovation, interior design or even tenant will determine the value and demand of your property.
• Be flexible on target tenant: Fully furnish your property if you found out the rental market is actually mainly for expatriate instead of your initial plan. Perhaps your initial planning is to rent out your unit as bare unit which are target for family or young couple but expatriates usually prefer a fully furnished unit.
• Competency: Definitely there are more challenges to sell your property during economic downturn. Allocate a minimum extra cost as incentive, commission, advantages (certainly in $$$ sign) for your property negotiator or property agent. Don’t be surprise, the ‘minimum cost’ will always make wonder for you!

Kenny Heights is nestled in the vicinity of established and affluent neighbourhoods such as Mont’ Kiara, Bangsar, Kenny Hills and Damansara Heights. Strategically located only 10 minutes to KLCC and 5 minutes to KL Sentral, Bangsar and Damansara, Kenny Heights is also well served by major roads such as Jalan Duta and highways including the New Klang Valley Expressway (NKVE). Apart from this, it is also surrounded by thriving commercial centres as well as private international schools such as the Garden International School and Mont Kiara International School.

Built-up Area

Kenny Heights Estate is an exclusive collection of 49 units of 4-storey townhouse villas sitting on 3.7 acres of freehold land. Designed by world-renowned architects, Kengo Kuma & Associates, its architecture is elegant and unique, with an interior that incorporates nature into the living space creating an open, relaxing and vibrant feel. With 10 signature designs of 4-storey exclusive townhouse villas to delight the discerning home-owner, these homes offer built-up areas ranging from 5229 sq ft to 6,649 sq ft. assuring ample family space.

Design & Concept

A master in harmonising design philosophy and local culture, Kengo Kuma created Kenny Heights Estate’s exclusive villa home designs incorporating both natural elements and the natural effects of sunlight in the living spaces and the architectural design of the building. Elegant and understated, the villas’ indoor/outdoor concept ensures an open home concept, ensuring the visual connection with nature all the while creating a healthy and serene living environment for its residents. Some of the selected units will also feature a unique vertical landscaping and lush landscape designed by well-known French botanist Patrick Blanc, well known for his invention the Vertical Garden, also known as the Living Wall.

Each villa has 4 to 5 bedrooms, a private lift, a garage, and the most distinct feature of all; a 36-foot long private swimming pool on the top floor! These villas are designed with detailed attention paid to the overall quality and finishing which includes designer built-in kitchen system, designer wardrobes for the master bedroom and 2nd bedroom, air-conditioners in living, dining, dry kitchen and all bedrooms, as well as a high quality sanitary hot water system for all bathrooms

Facilities & Amenities

Guarded with built-in alarm systems, CCTVs, and security card access, Kenny Heights ensures the safety of residents at all times. To stay connected, there is also wireless broadband internet access.

Kenny Heights offers amenities and facilities such as an exclusive clubhouse equipped with a 25m lap pool, a wading pool a Jacuzzi spa pool and a gymnasium for fitness enthusiasts. Residents have the privilege to organize events on the roof top terrace, dining area, open air lounge or the barbeque deck. The extensive facilities also feature a spa treatment room, locker room and Yoga studio which will certainly complement the lifestyle here.

Community

Residents living in Kenny Heights Estates will also be treated to the integrated midtown development of Kuala Lumpur, in addition to the combination of generous public spaces such as a piazza with its intimate walkways, lanes and lush gardens to harmonise the natural theme of the development. The master plan envisioned for Kenny Heights also incorporates the creation of a dynamic community with a cultural centre, medical facilities, schools as well a social institutions suitable for the whole community – from residents to office workers. The result equate to a vibrant, integrated and healthier community within an urban metropolis.

Expected to be completed in year 2010, Kenny Heights Estate is perfect for homeowners seeking privacy, security, comfort and convenience. Visit or contact the developers now to enquire for your ideal home within a wonderful neighbourhood

“It will be a very costly exercise for PNB to buy the remaining SP Setia shares that it does not already own. At yesterday’s market closing price of RM4.06 per share, this will cost about RM2.8bil.

“But most importantly is whether PNB can further add value to SP Setia if it is being taken private at current valuations which is expensive. It is currently trading at 19 times of FY2009 earnings estimate,” ECM Libra property analyst Bernard Ching told StarBizWeek.

PNB’s accumulation of SP Setia shares since March last year has kept the shares at a much higher valuation than the industry’s average. The pace of its share buying in the company picked up when the global financial crisis started last June that prompted some of the foreign funds to liquidate their positions.

Ching believes that the recent appointment of two nominee directors of PNB is nothing more than a check and balance to safeguard their significant investment in SP Setia rather than to exert influence over the management of Malaysia’s biggest property developer by market capitalisation.

SP Setia president and chief executive officer Tan Sri Liew Kee Sin owns 12% in the company while the Employees Provident Fund and US-based Capital Group also have 12% each. Other foreign shareholders hold another 14%.

The company’s current chairman, Tan Sri Abdul Rashid Abdul Manaf, had assumed the chairmanship since Jan 15, 1996.

Referring to concerns expressed by the investment community that PNB had taken three property companies – Island & Peninsular Bhd, Petaling Garden Bhd and Pelangi Bhd – private between 2005 and 2007, Ching said the situation was different for those companies.

“These companies do not attract the kind of investors’ following as SP Setia and they were under-valued. Furthermore, PNB only spent about RM1.7bil in total following the mandatory general offers to take them private,” he said.

So, is there a likelihood for PNB after its takeover of SP Setia to merge it with the other three property companies?

“This is very unlikely as it will severely dilute SP Setia’s value. The management style of Liew and the other PNB-appointed chiefs may be very different and a significant amount of time and effort may be required to align these differences,” Ching pointed out.

He said a more likely scenario would be joint development of PNB’s vast land bank under SP Setia’s well-established brandname.

By doing so, PNB can leverage on SP Setia’s vast expertise in turning around large greenfield parcels into townships, while SP Setia can avoid heavy holding cost from new land acquisitions.

HwangDBS Vickers Research senior property analyst Yee Mei Hui said since its transfer to the Main Board in 1996, SP Setia had quickly built up its reputation as a blue-chip property stock and darling of the investment community.

The company’s good dividend payout record at the rate of about 60% of net earnings since 2005, and its capital appreciation over the years have certainly contributed to its stature.

With its track record as one of the top industry performers in terms of sustainable earnings and sales, she said SP Setia was well known for its innovative marketing expertise and product offerings.

Led by its charismatic chief, Liew, 51, SP Setia is highly regarded for being the industry trendsetter in terms of product design, good price premium for its properties and high quality. Its capability in product innovation and designing has won the company many industry awards, both on the local and international stage.

SP Setia’s 4,000 acres of land bank in the Klang Valley, Penang and Johor have all the infrastructures in place and are all paid for. They will last the company at least another 10 to 15 years.

At the end of the day, if PNB’s investment strategy in SP Setia is for long-term value enhancement, then the current Liew-led management will continue to be the faces of SP Setia for many more years to come. PNB could not be reached for comment.