I Didn't Like What I Saw

SIXTEEN MONTHS AGO, I really couldn't believe some of the remarks. There are worries that I couldn't meet the debt repayment, as the share market dropped. A lot of people trying to take advantage of the situation, coming to me, there were banks that offers to re-finance with this sort of terms which were totally unacceptable. 

I run a property investment business, now for over 10 years, which I make a small investment to acquire a unit of apartment of RM120K way back in year 2000. Only in year 2008 I decided to expand the business to further acquire a penthouse in one of the prime location in Petaling Jaya, and a unit of studio condo in Subang Jaya, with total new investment value of RM1 million. 

As a consolation for myself, I changed my sedan to All New Camry 2.4V. It was the most toughest business decision so far, through undisclosed fresh financing, eventually every pieces fall into a right place. 

The economy has since stabilized, and my income were up significantly in mid 2009 and further 5% growth in October 2009. In Feb 2010, the reserved fund were up and construction work of the new properties are in progress with 40% completion. 

Many complaints the risk I am taking is too great and unacceptable. Some are worried that I will collapse financially, especially my family members.

"Going through a period like that is making me rethink my strategy and game plan. After the crisis, I took a hard look at myself and I have to confess, I didn't like what I saw."  

I hope the construction of Park 51, Penthouse unit and SOHO studio condominium unit to complete much earlier. This will put me in advantage in terms of interest saving and I can initiate my plan. Right now I would not be looking anywhere else, but to focus on the existing investment. The returns may not looks promising yet, but I see demands will be definitely more than supply in the next 5 years. 


Instead of expanding business in Kuala Lumpur, I am prospecting Indonesia market. There are several talks and some parties approaches me for huge rental business contract. Anytime soon, I am planning to establish an overseas company with foreign shareholders in Indonesia. Kalimantan itself is a heaven for many type of business and one of my favorite business, rental business. I hope the new business venture will kick off soon.