PROGRAMME

TIME

08:00 am 09:00 am
(1 hour)

Supported by:

PROGRAMME

SPEAKERS

REGISTRATION

PROPERTY MARKET OUTLOOK FOR 2016

09:00 am 09:10 am
(10 min)

Opening Remarks by Organising Chairman

James Wong Kwong Onn

09:10 am 09:50 am
(40 min)

Overview of the Malaysian Property Market

Faizan bin Abdul Rahman

09:50 am 10:20 am
(30 min)

Navigating Malaysia Through The Headwinds

Lee Heng Guie

10:20 am 10:50 am
(30 min)

COFFEE BREAK / PRESS CONFERENCE

10:50 am 11:20 am
(30 min)

Landed Residential Market Performance and Outlook

Foo Gee Jen

11:20 am 11:50 pm
(30 min)

Non-Landed Residential Market Performance and Outlook

Tang Chee Meng

11:50 pm 12:25 pm
(35 min)

Office Market Performance and Outlook

Sarky Subramaniam

12:25 pm 01:00 pm
(35 min))

Retail Market Performance and Outlook

Allan Soo

01:00 pm 02:00 pm
(1 hour)

LUNCH

02:00pm 02:30pm
(30 min)

Hotels & Resorts Market Performance & Outlook

Dennis Tan

02:30 pm 03:00 pm
(30 min)

REITS Market Performance & Outlook

YBhg Dato George Stewart Labrooy

03:00pm 03:40pm
(40 min)

Regional Market Performance & Outlook Northern Region

Dr. Jason Teoh

03:40 pm 04:10 pm
(30 min)

COFFEE BREAK

04:10 pm 04:50 pm
(40 min)

Regional Market Performance & Outlook Southern Region

Samuel Tan

04:50 pm 05:30 pm
(40 min)

Regional Market Performance & Outlook East Malaysia

YBhg Datuk Kenneth Yen

05:30 pm 05:40 pm
(10 min)

Closing Remarks by President of PEPS

YBhg Datuk Siders Sittampalam

WHO SHOULD ATTEND

Bankers Real Estate Developers Builders Real Estate Analysts Real Estate Investors Corporate Leaders
Investment Advisors Fund Managers Property Consultants Valuers REIT Players
Retail Consultants Asset Managers and others

Persatuan Penilai, Pengurus Harta, Ejen Harta & Perunding Harta Swasta Malaysia
(Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, Malaysia)

P-2-7, Block P, Plaza Damas, No. 60 Jalan Sri Hartamas 1, Sri Hartamas, 50480 Kuala Lumpur
Tel: +603 6201 8200 | Fax: +603 6201 8300 | Email: secretariat@peps.org.my

INTRODUCTION

This

year 2015 might go down as

a historic year in the sense
that the Governments actions had affected
the property market directly. The volume of
transactions decreased from 289,537 in
the first 9 months of 2014 to 275,725 in the
first 9 months of 2015, registering a drop of
4.77%. In tandem with this drop, the value
of transactions also decreased from 124.4
billion to 114.1 billion showing a decrease
of 8.26% during the corresponding period.
The tightening measures put in place by the
Government through increased Real Property
Gains Tax and stringent lending measures
appeared to have had some effect on the
property market. For the first three quarters
of 2015, the residential sector showed a
drop of 11.83% in terms of value against a
drop of 4.47% in volume. This was matched
by the commercial sector registering drops
of 12.88% and 6.94% in terms of value and
volume of transactions.
The corrections in the residential and
commercial sectors come in after several
years of increasing prices and in some
instances is seen as welcome, so that
the property market does not become
overheated and cause concern for an asset
bubble to be formed. The cooling measures
have brought about some changes;
speculation is down and more thought
is being given to affordable housing and
addressing the needs of people who are
yet to buy a house. The Budget this year
addresses some of these concerns through
greater provision of affordable housing and
encouraging the Youth Programme for those
who are young and still without a house. A
number of incentives have been provided for
first time buyers of housing.
The economy has generally been felt to
have slowdown. Expected Gross Domestic
Product is seen to dip below 5%. The Ringgit
has worsened against the currencies like
USD, SGD and Indian Rupees. The economy
and the currency problems are topmost in
everyones mind. More foreign properties are
being sold in Malaysia on fear that the Ringgit
will slacken further.
In April 2015, the Government implemented
the Goods and Services Tax or GST. The
Government has decided that residential
property will be exempted from GST
presumably not to cause an extra financial
burden to the buyers who are already reeling
from high property prices. The real concern
was will the prices of houses increase
when GST is implemented. In addition, the
Government has also declared that fuel
subsidy will be reduced or removed. This
also has given rise to fears that house prices
will be spiralling upwards. Added to that, the
eternal fear of rising material costs, labour
costs and land costs was causing concern

not only to consumers but developers. In

reality, it will appear that the GST had not had
any impact in increasing prices for houses
or commercial properties. The full impact
will only be known after a full year of GST
implementation.
What directions will the property market take
in 2016 given the drop in prices and volume
of transactions in 2015? How will developers
react to the present scenario? What will the
impact of the falling Ringgit be? Are our
fundamentals strong as it is being claimed
by some quarters? What will be the market
trend in 2016? Will we see an increase in
foreign buyers of Malaysian real estate in
2016 with the falling Ringgit? What needs to
be done to revive the ailing property market?
Our speakers will address some of the ills
affecting the market. This will be bolstered
by data and information from the real experts
in the real estate industry. Hear the experts
discuss.
The market is waiting to hear what the impact
of the GST and fuel subsidy removal will have
on the housing sector. Pundits and Property
Gurus have been expounding their versions;
listen to professionals who are trained in the
area of property market analysis share their
expert knowledge. Facts and figures do not
lie.
Also dealing in detail on the commercial
office and retail markets are experts who
use their very exhaustive data banks and
research departments to analyse and
provide a framework for easy understanding
and careful decision making.
These are some of the areas that will be
discussed in depth at the 9th Malaysian
Property Summit this January 2016.
For these reasons it will remain one of
the most anticipated events each year.
Analysts, developers, bankers, Government
organizations have always been keen
supporters of this event.
This is the Summit of the property market, for
the property world, by the property people
put together by the very industry and people,
to whom property people turn to when they
need advice, consultation, research and
analysis, testimony, professional opinion,
expert witness and evidence, support and
prognostication on the property market.
The Association of Valuers, Property
Managers, Estate Agents & Property
Consultants in the Private Sector Malaysia
(PEPS), the body that represents the
reputable
and
established
private
valuation and consultation practices, has
come together to provide the Malaysian
Property World with the width and depth

Speakers
of its accumulated research and analysis,
prognosticate for this coming year, 2016, the
expectations of movements, fluctuations and
changes that can be expected to happen in
the property market, and the reasons for it.
The objective of this Summit, as in previous
years, is to present to the Malaysian Property
industry and players an authoritative view
of the state of the real estate industry.
As valuers, land economists, property
consultants, real estate investment analysts,
and, by and large, the only people trained
and paid to judge the market and the
outcomes, and the only people who have
an in-depth knowledge of what is happening
in the market, the speakers would be able
to tell the world at large exactly what has
been happening, and how the market is to
behave and perform. The databases of the
major property consultants will be thoroughly
examined and in-depth research built into
the prognostications that will be presented
by the industrys key idea-men.
We have identified experts who specialises
in a particular property sector to provide the
participants the best answers to questions
asked, or lurking in the minds of bankers,
developers, analysts, investors, decision
makers, institutional agents, fund managers
and others.
For each sector, each speaker will do the
following:
Outline the historical background with
data and analysis;
Geographical spread and classifications;
Relative importance to the industry;
Relationship to the economy and market;
Highlight the last three years activities;
Give an opinion on what has happened
including an analysis of the drivers
affecting it;
Outline the key drivers that will drive the
market in the future;
State his opinion on what direction the
market will take based on his analysis.
The 9th Malaysian Property Summit 2016 is
a Property Conference not to be missed and
we look forward to your attendance.

FAIZAN BIN ABDUL RAHMAN is the Director General, Valuation and Property Services Department in the Ministry of
Finance Malaysia. He started his career as a Valuation Officer in April 1979 after graduating from the University of
Technology Malaysia. Tuan Haji Faizan also has a Master of Science in Facilities Management and Asset Maintenance
which he obtained from Heriot-Watt University, Scotland in 1996.
Throughout his career with the Government, he has served in many places and was steadily promoted to his current
position. Tuan Haji Faizan has also received commendations for Excellent Service Awards in 1987/88 and 2001 and the
Bintang Ahli Mahkota Perak by HRH Sultan of Perak in April 1992 as well as the Bintang Kesatria Mangku Negara
by HRH Seri Paduka Baginda Yang Di Pertuan Agong in June 2006. Tuan Haji Faizan is also the President of the Board
of Valuers, Appraisers & Estate Agents Malaysia (BOVAEA).

LEE HENG GUIE had 30 years of professional experience as an economist, with almost 12 years in Bank Negara
Malaysia and 18 years in financial services. Since 2002, he was the Head of Economics Research with CIMB Investment
Bank Berhad before retiring in May 2014. He supervised a team of five economists covering global and regional
economies, with particular emphasis on Malaysia, Indonesia, Singapore and Thailand.
Mr. Lee is the recipient of many awards: He was voted Best Economist in The Edge Polls twice and ranked top 3
four times from 2000-2008; Best Economist by the Asset Magazine Hong Kong - Local Currency Bond Market of
Malaysia in 2007. He also led CIMB Macroeconomic Research to be ranked among top 3 for nine consecutive years
(2005-13) in the Asiamoney Polls.
Mr. Lee hold a BA (Hons) majoring in Economics from University of Malaya, Malaysia and a Masters Degree in
Development Economics from Williams College, USA. He is currently a columnist at Focus Malaysia.

FOO GEE JEN is the Managing Director of C H Williams Talhar & Wong Sdn Bhd. Foos experience stems from
numerous corporate consultancy exercises including the pre-privatisation exercise of TNB, Kumpulan Guthrie and the
initial development of KLCC and TRX. Foo has also successfully brokered multi-million property deals involving MNCs.
In his recent involvement in Agency & Transactional Services, Foo was involved in tender exercises for Guthrie Medicare,
Gateway 2000 & Bandar Malaysia. Other assignments have been handled notably for Infineon Technologies, TEAC
Electronic Japan, Shell Trading, ExxonMobil, Hewlett Packard, Tradewinds Berhad and Manipal University.
Foo is currently the Vice President of PEPS, Fellow of RISM , Board Member of BOVAEA, member of RICS and
served as National Committee Member of FIABCI Malaysia (2010-2014). Foo was also the Honorary Advisor (Property
Consultant) to REHDA (Malacca branch) between 1996-2008.

TANG CHEE MENG is the Chief Operating Officer of Henry Butcher Real Estate Sdn Bhd, as well as the Chief
Operating Officer (Central Region) of Henry Butcher Asset Auctioneers Sdn Bhd. A Business Management graduate,
Chee Meng has more than thirty years of experience in the property industry. The first twelve years of his career were
spent in the property development sector with leading property developers such as Island & Peninsular Berhad and the
Palmco Group. During this period, Chee Meng gained wide exposure in handling project planning, marketing planning,
sales and sales administration for housing schemes as well as large township developments. Over the next twenty two
years, he was involved in the real estate consultancy sector where he has handled a diverse range of market research
and feasibility studies as well as project marketing assignments.
At Henry Butcher, Chee Meng has successfully overseen the marketing of a wide range of high end residential, resort,
service apartment and commercial projects. He has also been involved in marketing Malaysian property projects
internationally as well as the marketing of foreign projects in Malaysia.

Speakers
ALLAN SOO is the Managing Director of Savills (Malaysia) Sdn Bhd and has been in general practice for over 30 years
in the region and in the UK.
He has provided advice and consultancy to global and corporate clients and has extensive involvement and experience
in the areas of retail investment, research, design development, leasing, marketing and management. His inherent
understanding of the market has enabled him to provide country and industry advice to retailers such as Sephora,
Carrefour, AEON, Parkson, and in introducing new entries to Malaysia such as H & M, Johnny Rockets, Sacoor
Brothers and Hamleys. Allan is now involved in setting up Malaysias second premium outlet mall in Penang.

DENNIS TAN is the Managing Director of Everly Group with a M.Sc. in Industrial Engineering.
After successfully managing the turnaround of Park Avenue Hotel his first hotel, he formed Everly Group in 1990. He
introduced manufacturing quality methods to hotels which proved to be extremely successful as six out of their seven
hotels were winners/finalists for Service Excellence in Malaysia in the last ten years. Having completed more than
150 hotels site and design evaluation and built eleven hotels, he is often consulted by investors and sought out for
speaking engagements on various aspects of design and management of hotels. By re-engineering all aspects of a
hotel and creating a multi tasking work environment he managed to lower the break-even level of a hotel to below 30%
occupancy. He has managed the turnaround of eleven hotels (including a golf course), the latest was Qliq Hotel (4 star
boutique hotel) in Damansara Perdana which he turned around in the first full month of operation. He guarantees a
turnaround of a hotel within six months.

Y BHG DATO GEORGE STEWART LABROOY is the Executive Chairman of AREA Management Sdn. Bhd. a
subsidiary of AREA Advisors Pte Ltd (AREA) an appointment he has taken since his retirement as CEO and Executive
Director of Axis REIT Managers Bhd (ARMB) on 31 December 2015. With a career spanning over 40 years in the
industrial space, he has spent well over a decade since 2005 in heading Axis REIT and establishing REITs as an
important component of the capital markets. He will continue with his involvement with ARMB as a Non-Executive
Board Member effective 1 January 2016.
Dato George Stewart Labrooy is a Member of the Institute of Engineers Malaysia, Board Member of the Asia Pacific
Real Estate Association (APREA) and was the founding Chairman of the Malaysian REIT Managers Association (MRMA).
He is a prominent speaker on the subject of conventional and Islamic REITs in the region and also contributes articles
on the subject of REITs and industrial development for publication in the media. He is a director of a number of private
companies involved in property advisory, property development and property investment.

DR. JASON TEOH is a Director of Henry Butcher Malaysia Penang who holds an MBA from Heriot Watt University, a
Doctorate from the University of South Australia and a post graduate certificate in Real Estate Finance from the National
University of Singapore (NUS). He is also a member of the New York based Urban Land Institute and FIABCI. Jason is
a Registered Valuer with BOVAEA, a Fellow of RICS and RISM and a Member of The Chartered Institute of Marketing
(UK).
Jason has more than 27 years of experience in property consultancy including asset valuation, research,
investments and management and also a High Court appointed assessor and expert witness in land acquisition
matters. He was a former Adjunct Professor in the Department of Real Estate Management, Faculty of Built
Environment, Universiti Malaya. He has presented papers at national and international forums and conferences.

SARKY SUBRAMANIAM is the Managing Director of Knight Frank Malaysia Sdn Bhd. He commenced his career 28
years ago in Melbourne, Australia and has been in private practice property consultancy since his return to Malaysia in
1989. Specialising in agency, investment sales development consultancy, research and valuations, Sarky is currently in
charge of Capital Market Transactions and Corporate Services.

SAMUEL TAN is the Executive Director of KGV International Property Consultants Sdn Bhd and is a Registered Valuer
and Registered Estate Agent with BOVAEA. He is a Member of RICS and RISM and served previously as the Past
Chairman of RISM, Johor Branch. He is also a licensed Auctioneer in the State of Johor since 1986. Samuel has
accumulated over 30 years of experience in the property industry. He was involved in several major investment sales in
Johor Bahru including the sale of Plaza Best World, Menara Landmark and Lot 1 Waterfront City.

Sarky was instrumental in the sales of a portfolio of buildings in London for 850 million to Permodalan Nasional
Berhad (PNB) in collaboration with Knight Frank UK. Sarky had been directly involved with the office search for Shell
and had secured their principal office space at about 340,000 sq ft in Kuala Lumpur and their shared services centre in
Cyberjaya for 320,000 sq ft. Sarky is a Fellow of the Australian Property Institute, a member of RICS (UK), PEPS, RISM,
MIPPM and MIEA. He is a Registered Valuer and Registered Estate Agent with BOVAEA.

He is also actively involved in presenting talks in property seminars. He sits as an ex-officio in Majlis Perbandaran Batu
Pahat and is in the Think Tank Committee of Iskandar Regional Development Authority to advice on property policies.
He is also an assessor in the High Court to assist the judge in land acquisition cases.

Y BHG DATUK KENNETH YEN is the Director of VPC Alliance (Malaysia) Sdn Bhd and Chairman/Director of VPC
Alliance (Sabah) Sdn Bhd. He is also Chairman of Pan Borneo Giza Sdn Bhd currently developing Kimanis Square, a
commercial development in Kimanis, an upcoming Oil & Gas Hub of Sabah. He is a practizing Property Consultant and
Valuer since 1970 with working experince not only in Sabah but Kuala Lumpur (2003 & 2004) and London (1982).
Datuk Yen is a Fellow of RICS, UK and a Board Member of RICS, Malaysia. He is also a Fellow of RISM. Datuks core
competencies are in Valuation for land compensation and dispute settlement and advice in Property Development
(development procedures and approvals, design and best use of the land and project marketing) in Sabah.