Only 14,000 registered for FT affordable housing
It is reported that only 14,000 people have registered for the Federal Territory Affordable Housing Plan (RumaWIP). Kuala Lumpur City Hall (DBKL) urged those who are working in the federal territory and yet to own a house to take the opportunity to apply for the scheme, which offers high-rise housing units that are cheaper than market price meant for middle-income earners. Whenever there is a RumaWIP project launch they will be notified immediately. A total of 80,000 affordable housing units are targeted under the RumaWIP scheme together with1Malaysia Civil Servants Housing Programme (PPA1M), which includes 50,000 in Kuala Lumpur, 20,000 in Putrajaya and the remaining in Labuan. Each household head is only eligible for one unit under the scheme and owners cannot sell the unit for 10 years. (New Straits Times Online)

OSK appoints new deputy managing director, executive directors
OSK Holdings Bhd has appointed Ong Ju Yan as its deputy managing director, along with the appointment of Datuk Saiful Bahri Zainuddin and Ong Ju Xing as executive directors. Both Ju Yan and Ju Xing are the sons of OSK Holdings ‘s substantial shareholder and chief executive officer/group MD, Tan Sri Ong Leong Huat. OSK Holdings successfully completed its takeover bid of PJ Development (PJD) with an 89.4% stake on Sept 7, and intends to maintain the listing status. OSK Property, on the other hand, will be delisted from Bursa Malaysia following the 97.1% voting shares held by OSK Holdings. (The Edge Markets)

Artist’s impression of Eco Sanctuary, Singapore

SP Setia keen to have more projects in Singapore
SP Setia Bhd may be new to Singapore’s property sector, but will continue to look for more opportunities in the form of joint ventures or land tenders, said acting deputy president/COO Datuk Wong Tuck Wai. The company’s first project was 18 Woodsville in 2012, and a topping out ceremony was held last week at its second condominium project, Eco Sanctuary. The Malaysian property giant also has projects in Australia and Britian. (The Star Online)

Tax high-end properties to subsidize other units
The tussle between Sabah’s Housing and Local Government ministry and Sabah Housing and Real Estates Developers Association (Shareda) over the ruling to force developers to reduce the selling price of houses by 10 percent is a cause for concern for DAP Sabah. The drastic decision would not solve the core problem, which is the fact that housing price in Sabah is considered one of the most unaffordable in Malaysia. Instead of controlling the selling price, the government should consider restricting housing market speculation which is pushing up property prices. A “cross subsidization” mechanism could also be adopted, in which the state government imposes a tax on high-end property and uses the money to subsidize middle and low price housing units. (The Borneo Post)

Andaman rewards customers with Kiyosaki seminar
Andaman Property Group is giving its customers a chance to learn about positive cash flow management from Robert Kiyosaki, author of the bestselling Rich Dad, Poor Dad books, through its Buyers Loyalty Reward programme, which often focuses on educational programmes that are financially beneficial to their clientele. The exclusive private seminar is designed to help existing and future business leaders to navigate their businesses and become smart property investors. The property developer is giving away silver and VIP tickets to previous and existing Andaman property buyers, and non-buyers would also have the chance to win tickets through Facebook. The event will be held on Nov 10 and 11 at One World Hotel, Petaling Jaya. (The Star Online)

Malaysia, Singapore water-bomb Sumatra’s hot spots
Malaysia and Singapore have sent aircraft on water-bombing missions to put out the raging fires in South Sumatra that have caused weeks of unhealthy haze in neighbouring countries. A total of seven helicopters and four fixed-wing aircraft have been deployed for the mission, said Indonesia’s National Disaster Management Agency (BNPB). The operation is concentrated in the worst-affected areas of Ogan Komering Ilir and Musi Banyuasin in South Sumatra Province. Indonesia has also requested for help from Australia. Indonesia last week accepted assistance from its neighbours, including Australia, after repeatedly declining offers of help for weeks. (The Malay Mail Online)