TUAN ADAM AIMAN BIN TUAN MAZLAN

REPORT ASSIGNMENT INDUSTRIAL TRAINING
SIJIL PENILAIAN HARTA TANAH(SPHT)
SESI 2018/2019

NAME : TUAN ADAM AIMAN BIN TUAN MAZLAN
STUDENT NO : SPHT-15-18-024
I/C NO : 001107-11-0221
SV. INSPEN : PUAN ASMAHANI
SV. AJC : PUAN LATIFAH BINTI RAFI

PART A

(DETAIL OF ORGANIZATION AND WORK
PROCESS)

INTRODUCTION

During my internship at AJC Property Surveyors, I exposed to various cases in the property
related field. For this task, I choose a service apartment for my project.

In pursuance to the instruction given by MR. NG GUO LIH to value the captioned property, we
comfirm that we have inspected the same on 9th October 2019, takes all relevant particulars,
made necessary investigations and now submit our Report & Valuation.

AJC PROPERTY SURVEYORS
 Formerly known as JALIL & CO then A JALIL & CO now known as AJC PROPERTY
SURVEYORS SDN BHD, a sole proprietary firm registered with the Board of Valuers,
Appraisers & Estate Agents, Malaysia [V (3)0024] and the Ministry of Finance
Malaysia. Starting operation from November 2000 to February 2008 with 2 other
subsidiary firms namely Mutiara Properties and J&C Realty which offered a professional
property management and real estate agency services respectively.
 Nowadays there are 5 branches of AJC Property Surveyors SDN BHD comprises of AJC
Putrajaya, AJC Gombak, AJC Johor, AJC Penang and AJC Perak.
 AJC is a limited firm incorporated on 26th March 2007 under the Companies Act 1965
(Companies Commission of Malaysia). Also registered with the Board of Valuers,
Appraisers & Estate Agents, Malaysia [VE (1)0202, VE (1)0202/1, VE (1)0202/2 & VE
(1)0202/3] and the Ministry of Finance Malaysia
 Commenced practice under a limited firm status i.e. SDN BHD on 1st March 2008
 AJC is structural towards providing total services in property consultancy and valuation
surveying while also venture into real estate and telecommunication engineering.

 ORGANIZATION CHART: AJC PROPERTY SURVEYORS

Haji A. Jalil

CEO & Founder of AJC Property

En. Sharizal

Director Manager

Pn. Latifah En. Syuhaimi

Senior Manager Senior Manager

Cik Amira Cik Atikah 1.Puan Aisyah 1. En. Fandi
2. Cik Uzma 2. En. Hakim
Admin Executive Account 3. Pn. Nurhanna
Special Case 4. Pn. Zakiah

Valuer

VALUATION WORK PROCESS
Before:

1. Receive Instruction Letter from bank; Maybank, MBSB or RHB Bank.
2. Key in data in the system to avoid doubled of reference numbers.
3. Open file to make sure that we have notice the case.
4. Make sure where is the subject property located in ‘Google Maps’.
5. Went to the land office to make a title search either it landed or strata title.
6. Make an appointment with with the owner of the house/land for inspection
7. Prepared all the tools; Camera, Pen, A4 sheet, measuring tape/ measuring laser.

During:

1. Ask for permission from the owner of the house/land for inspection purpose.
2. Measured, sketch floor plan, and also take the picture around property.
3. Identified all the tiles, ceiling, window and door types.
4. Identified the public services provided in the area.
5. Check for surrounding.

After:

1. Prepare draft report according to the information have been collected while inspection.
2. Provide the necessary attachments including a location plan,site plans, floor plans and even
pictures.
3. Make calculation using appropriate methods.
4. Submit draft report to the manager for double checked purpose
5. Report will be submit to the client.

PART B

(Valuation Report)

TERM OF REFERENCE:
We have been instructed by RHB BANK BERHAD to ascertain the Market Value of the
Developer’s Parcel No. P2-36-02, Type B, Storey No. 36, Building No. Residential Building 2
(P2), KL Gateway, erected on Master Lot No. 480578, Title PN No. 51531, Mukim & District
of Kuala Lumpur and State of Wilayah Persekutuan Kuala Lumpur (hereinafter referred to as
“the subject property”) for financing purposes as applied by MR. NG GUO LIH.

PURPOSE OF VALUATION:
This Report and Valuation is conducted and shall be utilised solely for financing purposes and
not to be used for any other purpose except that mentioned above without our written consent.

DATE OF VALUATION:
The subject property was inspected on 9 October 2019 by Tuan Adam Aiman Bin Tuan Mazlan
( Internship) together with Puan Nor Zakiah Binti Abdullah ( Valuation Surveyor). The date of
inspection is taken as the material date of valuation.

DEFINITIONS:
“Market Value” is the estimated amount for which a property should exchange on the date of
valuation between a willing buyer and a willing seller in an arm’s length transaction after proper
marketing wherein the parties had acted knowledgeably, prudently and without compulsion.

TITLE PARTICULARS:
Based on our investigation and information made available to us by the solicitor, we noted that
the strata title for the subject property is not issued yet. Pending the issuance of a valid strata
title document, the interest in the subject property is secured and regulated by a Sale and
Purchase Agreement (“the principal Agreement”) dated 23rd July 2019 between SUEZ
DOMAIN SDN. BHD. (“the Developer”) and NG TEN SONG @ NG SZIT CHONG & NG
GUO LIH (“the Purchasers”).
Particulars of the subject property as extracted from the photocopy of the abovementioned
agreement as well other information provided to us by the client are as follow: -

Master Lot : Lot No. 480578
PN No. 51531
Master Title : Kuala Lumpur
Kuala Lumpur
Mukim : Wilayah Persekutuan Kuala Lumpur
KL Gateway
District : P2-36-02, Type B
36
State : Residential Building 2 (P2)
LG2-33
Development : 125.05 square metres (1,346.00 square feet)
SUEZ DOMAIN SDN. BHD.
Parcel No. : Nil

Storey No. :

Building No. :

Accessory Parcel No. :

Gross Floor Area :

Beneficial Owners :

Encumbrance :

LOCATION:
The subject property is located within a mixed development known as KL Gateway. The Federal
Highway is situated northern from the property. Kuala Lumpur city centre is located
approximately 11.00 kilometres northeast from the property.
At the level 45 of block Residensi Premium 2, KL gateway is where the subject property
located. It is the end unit from the southeast end of the block.
The subject property is easily accessible from Kuala Lumpur city centre via Jalan Syed Putra,
continued onto Federal Highway, exit left onto Jalan Kerinchi towards Kg. Kerinchi and finally
turning left again onto Jalan Kerinchi Kiri where the subject property is located

DESCRIPTION:
The subject property is a three bedrooms service apartment unit together with an accessory
parcel within a 48 levels service apartment block that is estimated to be about three years old.

The Block
The block within which the subject property is located is generally constructed of reinforced
concrete foundation, frame and floors, plastered brick walls and reinforced concrete roof/metal
roof trusses covered with concrete flat roof/metal deck.
The block has a total of 233 service apartment units. The units are arranged to allow a maximum
of 8 units on each floor, except for the Level 1 to 5 which consist of basement car parking bays,
Level 6 which accommodates main lobby area, Level 7 to 14 which consist car parking bays,
Level 15 & 16 which accommodates facilities. This block is provided with three passenger lifts
and four staircases.

Facilities provided in this development include 24-hour security system, maintenance office,
surau, function hall, infinity pool, lap pool, wading pool, gymnasium, changing room, steam and
sauna room, games room, BBQ area and children’s playground.

The Unit
The main entrance to the unit is secured with a fire rated door. Generally, the other doors are of
dual leaf aluminium framed glass door and timber flush type. The windows are of aluminium
framed glass casements and top hung type.
The unit has the following accommodation and floor finishes: -

Accomodation Floor Finishes

Living area Ceramic tiles

Dining area Ceramic tiles

Master bedroom Timber strips

Balcony Ceramic tiles

Bathroom Ceramic tiles

Two Bedrooms Timber strips

Kitchen Ceramic tiles

Utility area Ceramic tiles

Two Bathroom/wc Ceramic tiles

Yard Ceramic tiles

Other finishes include full height glazed wall tiles for the kitchens and bathroom/wc.
The unit is provided with a standard electrical wiring and sanitary fitting.
The gross floor area of the unit is estimated to be about 125.05 square metres (1,346.00 square
feet).

STATE OF REPAIR:
We observed that the subject property was in a fair condition and state of repair.

OCCUPANCY:
At the time of our inspection, we noted that the subject property is unoccupied.

NEIGHBOURHOOD:
Properties in the immediate vicinity of the subject property are residential and mixed
developments in character including apartments, condominiums, service apartments, purpose-
built office buildings, hotels, shopping complexes and private and government hospitals.
Other residential areas and mixed developments located nearby include Pantai Dalam, Bangasar
South, Taman Bukit Angkasa, Bukit Putra and Bukit Kerinchi.
Pullman Kuala Lumpur Hotel is located walking distance to the north of the subject property
whilst University Malaya and Pusat Perubatan University Malaya (PPUM) is located 39
kilometres to the northwest of subject property.

SERVICES:
Public utilities such as a main piped water and electricity and telephone line are connected to the
subject property. Sewage disposal is by means of modern sanitary system. Maintenance of
roads, drains, street lightings and refuse collection are provided by the Dewan Bandaraya Kuala
Lumpur (DBKL).
Light Rapid Transit (LRT) University station is connected with KL Gateway through a
connecting bridge.
Public transportation in the form of bus and taxi services is available within the neighbourhood.
The service fee is at RM0.385 psf( include sinking fund ), and the total of service fee is
RM518.21 per month.

PLANNING PROVISIONS:
The subject property is designated for commercial use.

BASIS OF VALUATION:
Our valuation reflects the Market Value of the subject property, a three bedrooms, service
apartments unit together with an accessory parcel with an estimated gross floor area of about
125.05 square metre (1,346.00) square feet), in its existing condition and state of repairs, which
is held under the Developer’s Parcel No. P2-36-02, Type B, Storey No. 36, Building No.
Residential Building 2 (P2), KL Gateway, erected on master Lot No. 480578, Title PN No.
51531, Mukim & District of Kuala Lumpur and State of Wilayah Persekutuan Kuala Lumpur
with the benefit of leasehold interest, free from encumbrances and with vacant possession.

METHOD OF VALUATION:
In arriving the Market Value of the subject property, the Comparison Method is used which
based on the recent transaction and asking price of similar properties in the area. Adjustment are
made for differences in property for factors which affect the value such as location, time
element, floor level, floor area, finishes, building services, management and maintenance, age
and state of repairs, market condition and other relevant characteristics. Investment method also
used to get the valuation.This method involves reflecting risk, return and expectations of growth
through the use of a yield. This yield is fed into the years purchase (YP) formula and the present
value of £1 (PV £1) formula to produce the figures that the rent is multiplied by.Years purchase
and present value are explained mathematically below but first we need to understand the
concept of the time value of money.

EVIDENCE OF VALUE:

Our investigation revealed the following transactions of service apartment units within KL

Gateway: -

1. Property : Developer No. 480578 (R2/5/3A)

Postal Address : Unit No. C-05-3A, Jalan Kerinchi

Gross Floor Area : 64.10 square metres (690.00 square feet)

Consideration : RM585,000.00

Date : 19 June 2019

2. Property : Developer No. 480578 (R1/23/3A)
Unit No. R1-23-3A, Jalan Kerinchi
Postal Address : 70.00 square metres (751.00 square feet)
RM633,000.00
Gross Floor Area : 30 May 2019
Developer No. 480578 (R2/30/02)
Consideration : Unit No. C-30-03, Jalan Kerinchi
80.00 square metres (857.00 square feet)
Date : RM1,000,000.00
20 March 2018
3. Property :

Postal Address :

Gross Floor Area :

Consideration :

Date :

VALUATION:
Taking into consideration all the salient features of the subject property and based upon our data,
we are of the opinion that the Market Value of the leasehold interest in the subject property,
which is held under the Developer’s Parcel No. P2-36-02, Type B, Storey No. 36, Building No.
Residential Building 2 (P2), KL Gateway, erected on Master Lot No. 480578, Title PN No.
51531, Mukim & District of Kuala Lumpur and State of Wilayah Persekutuan Kuala Lumpur
with vacant possession, free from all encumbrances, good, marketable and registrable title and
also subject to the limiting conditions stated overleaf to be at RM1,200,000/- (Ringgit Malaysia
One Million And Two Hundred Thousand Only).

Approximate Location of
the Subject Property

APPENDIX A

APPENDIX B

14.94m

Living Bedroom
area
Bath/
Dining wc
area
Bedroom

15.85m Balcony Master
bedroom
Kitchen Yard
Bath/
wc

Utility
area

Bath/
wc

APPENDIX C

RESIDENSI PREMIUM 2

General view of the KL Gateway
APPENDIX D

General view of the entrance of the subject property
APPENDIX D

Internal views of the subject property
APPENDIX D

COMPARISON METHOD

ANALYSIS & ADJUSTMENT ON
Unit No. F-36-02, Residensi Premium 2, KL Gateway, No. 2, Jalan Kerinchi, GerbangKerinchi Lestari,
59200 Kuala Lumpur

Evidence(s) C-05-3A, JALAN KERINCHI R1-23-3A, JALAN C-30-03, JALAN
KERINCHI KERINCHI
Date 19-Jun-19
Consideration RM585,000 30-May-19 20-Mar-18
Type of RM633,000 RM1,000,000
Property Service Apartment
Storey No Service Apartment Service Apartment
Building
Area (sq feet) Building Building
Price per sq foot 690
Value RM847.86 751 857
RM585,000 RM842.52 RM1,167.12
RM633,000 RM1,000,000

Adjustments Bldg Bldg Bldg
Time 0% 0%
0%
Size RM847.86 RM842.52 RM1,167.12
Location/Facility -10% -10%
Accessibility -15% 0% 0%
Level 0% 0% 0%
Finishes 0% 5% 5%
Design (corner) 5% 0% 0%
Total 0% 0% 0%
Adjustment 0%
Adjusted Price -5% -5%
-10% RM800.39 RM1,108.76
RM763.08
890.7439567
Valuation SAY RM1,198,941
1346 sq feet @ RM1,200,000
RM891 per sq feet

Market Value say

COST METHOD/INVESTMENT METHOD

VALUATION

Unit No. F-36-02, Residensi Premium 2, KL Gateway, No. 2, Jalan Kerinchi,
Gerbang Kerinchi Lestari, 59200 Kuala Lumpur

Gross Rent p.a RM
54,000.00

(less) Outgoing 5% RM
p.a 10% 8,100.00
Property Management RM
Fire Insurance (100/i) 45,900.00

Net rent p.a 26.32
YP in perpetuity @ 3.8% RM
1,208,088.00

SUMMARY OF SALIENT FACTS AND OPINION OF REPORT AND VALUATION

Our Reference No. : VPj/327/19/FIN/SS/LR-ZKH

Borrowers Name : NG GUO LIH

Date of Valuation : 8 October 2019

Date of Inspection : 8 October 2019

Method of Valuation : Comparison Method/Investment Method

Purchase of Valuation : Financing

Property Type/Description : A three bedrooms service apartment unit together with
an accessory parcel

Postal Address : Unit No. F-36-02, Residensi Premium 2, KL Gateway,
No. 2, Jalan Kerinchi, Gerbang Kerinchi Lestari, 59200
Kuala Lumpur

Gross Floor Area : 125.05 square metres (1,346.00 square feet)

Beneficial Owner : SUEZ DOMAIN SDN. BHD.
Legal Description
: Developer’s Parcel No. P2-36-02, Type B, Storey No.
36, Building No. Residential Building 2 (P2), KL
Gateway, erected on Master Lot No. 480578, Title PN
No. 51531, Mukim & District of Kuala Lumpur and
State of Wilayah Persekutuan Kuala Lumpur

Tenure : Leasehold for a term of 99 years expiring on 11th April
2111 (unexpired term of about 92 years)

Encumbrance : Nil

Endorsement : Nil

Caveat : Nil

Planning Details : Commercial

Occupancy Status : Unoccupied

Present Land Use : Commercial

Condition of Building/Unit : Fair

Market Value : RM1,200,000/-

Forced Sale Value : RM960,000/-

Fire Insurance Value : RM600,000/-

Marketability Factor :7

Variability of Prices in Market : 5%

Our E-mail Address : [email protected]