Hi, my name is Eric.

Well, as much as I would like to say "Genius, Playboy, Billionaire, Philanthropist", I am not all of it - at least not yet. I have a passion for construction and property, travel, food and shopping. Well, I am really not a blogger. I do blog every now and then, on all kinds of things, sometimes to address the media, well, sometimes just to post up updates of my projects. Through this blog - I shall try to keep the investors, shareholders, employees, colleagues, partners and the public updated on what Crest Builder is up to.

BUILDERS OF DISTINCTION

The Group strives to be the preferred builders of its valued clients.

STRONG PORTFOLIO

30 years of strong history and portfolio.

BUILDING LANDMARKS

Building the country's landmark buildings since 1983.

TEAMWORK

There is no 'i' in TEAM, and at Crest Builder, we work as a team.

BRANDED PROJECTS

The Group has been associated with various projects of high brand values.

GOOD PRACTICE

The Group constantly maintains a good construction practice for all its projects.

GOING GREEN

The Group maintains an environmental friendly approach to construction practices.

THE QUALITY BUILDER

The Crest Builder Group is always associated with distinctive standards of quality.

THE DETAILED BUILDER

Our focus on the details has been one of our strong credentials.

SATISFACTION GUARANTEED

The Group strives to provide its valued clients with the best service.

WIDE SPECTRUM OF CLIENTS

The Group has been working closely with both the public and the private sector in the 30 years of operations.

BRANDING

The Group is always associated with prominent projects to enhance the company's brand value.

SUSTAINABILITY

The Group is committed to sustainable practices in construction.

THE SOLUTION PROVIDER

Crest Builder strives to provide the optimum solutions and innovations to every project.

13 October 2016

Crest Builder gets RM84mil carpark construction jobs.


KUALA LUMPUR: Crest Builder Holdings Bhd has clinched an RM84.27mil contract to build multi-storey carparks at five public housing areas. In a filing with Bursa Malaysia, the construction and property development group said it had received a letter of award from Asianmax Corp Sdn Bhd for the main package works to design and build five multi-storey carparks. 

The project will be located at Perumahan Awam (Public Housing) Seri Kota, Perumahan Awam Seri Sabah, Program Perumahan Rakyat (People’s Housing Programme) Desa Tun Razak, Program Perumahan Rakyat Taman Mulia and Program Perumahan Rakyat Desa Petaling. The project’s duration is expected to be 12 months from the date of site possession. The dates of site possession for the five separate sites are expected to be advised by the client in due time. 

In a press statement, Crest Builder said including this project, the group’s current construction order book stood at about RM1.2bil along with a property development gross development value of RM4.1bil. “This project award brings our year-to-date contract wins to RM522.6mil, which has surpassed our internal order book replenishment target,” said group managing director Eric Yong.

01 August 2016

The Property Outlook of Malaysia - 2016 heading into 2017...

I know it has been quite awhile since I last did any posts; it was been quite a busy year so far for myself, but anyways, here I am, to write a bit about the property market for the rest of 2016, and heading into 2017. As what most property experts have said, the property market in Malaysia experienced a major downtrend and slowdown for most of 2015, and the first half of 2016 remained sluggish. We are entering into August 2016 already - and yes I do agree that the property market have been very bad, and would be expected to remain like this for awhile, until it bottoms out sometime next year. 

WHAT IS CAUSING THIS?

Perhaps let us start with the global factors. 

1. UK has already voted on the BREXIT. We have seen all the short term impacts on the financial markets worldwide - but the key point remains on what happens next in the UK. If UK's economy slows down - its economy and trade worldwide would reduce - and the chain reaction would affect the British Pounds (GBP), and buying power... and so on and so forth... 

2. If the UK can affect the world economy so much, are we forgetting the USA? Obama is on his way out. And a vote for either Hillary Clinton or Donald Trump would see a change in administrations, legislations, policies and so much more... and what would the global markets do? They would have a 'wait and see' approach - and hence.... similar chain reactions such as the BREXIT.

3. With two giants able to affect us, how about the giants of Asia? Yes... China's economy have already slowed down, and statisticians forecast of a continued slowdown. Our trades with UK, USA and China are all pretty high - and with these three giants going uncertain - the economy of Malaysia would be affected.

MEANS LIKE HOW? PROPERTY BUBBLE OR OVERSUPPLY? 

Means our Malaysia property market slow down lorrr.... but not oversupply la... 

Anyways, while there are some downs, there are definitely some UPs. 

I personally think that there is a mismatch in the supply-demand charts for properties in Malaysia. The properties in prime locations are in high demand - but the pricing has to be the middle and middle-to-high range - means from RM 400,000 to about RM 800,000 units. Big developers have started to come up with smaller units and more affordable units - but there is still an undersupply in this segment.

Means got more affordable property coming soon lor... 

The office spaces in Klang Valley have increased a bit - and was facing an oversupply situation until DBKL came in with various tiedowns to slow them down - and now, we can see the office market situation stabilizing. There is still a strong demand for high quality offices - the Grade A and A+ offices remains in high demand from investors and international corporations - hence, I believe we will see much better quality office towers coming around in town. 

THE MEGA PROJECTS? 

The KLCC area is almost fully built up already - and TRX is slowly being pushed into the market, together with PNB's KL118 and the redevelopment of commercial spaces around Jalan Sultan Ismail and Jalan Ampang is all underway. In the past, all these developments and redevelopments would be seen as worsening the office space situation in Kuala Lumpur - but in recent times, it is viewed as a strong positive sign! 

With our LRT extension projects completed, and the soon-to-be-opened MRT line in place, and another MRT line just announced, as well as all the various highways and expressways being upgraded and introduced, I would expect Kuala Lumpur to see a lot of new commercial growth and focus. With the infrastructure and public transport all improved, Kuala Lumpur is indeed becoming the city to be in, and the city to work in, live in and play in. 

WHAT CAN WE DO? 

Our Central Bank - Bank Negara recently revised the OPR - but is that good enough? A reduction in interest rates are pretty good - but I think we need to improve the liquidity of the lending. Things such as LTV-caps and valuations of properties could be improved to assist the lending liquidity. The amount of loan rejections in the past 2 years have increased tremendously - and is expected to increase somemore. 

WHAT'S NEXT? HOW ABOUT THE #BUDGET2017 ? 

With the general elections story constantly on the minds, I believe that this year's Budget 2017 announcement will be a very people-friendly budget - a very rakyat-centric budget, with some goodies here and there. What do I wish for for the property industry? Well... firstly, ideally I would hope that the OPR rates would reduce further. With lower OPR rates, it should be able to improve the sector's lending. I think there will be a lot of new PR1MA housing announcements, together with a few new mega developments. 



What do you think? 

Slowdown or not - to me, I believe is us Malaysians. With our Malaysia Boleh culture and spirit, we tend to adapt to any situation very quickly - and hence, all these are still very manageable.



Anyways, how about checking out my latest property offering in Subang West / Shah Alam? 

Log on to the website and find out more! Quote my name and blog when you are visiting - and who knows, you might even get a pleasant surprise package too!!!