|
Total Unit Property |
|
|
|
|
= |
615 |
|
|
|
|
|
|
|
|
|
|
|
Cost |
|
Unit |
|
|
i) Land |
Land |
|
110,000 |
x |
30.76 |
= |
3,383,600 |
|
|
|
1,500 |
x |
615 |
= |
922,500 |
|
|
|
|
|
|
|
4,306,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ii ) Buiding |
Terrace House |
|
92,400 |
x |
215 |
= |
19,866,000 |
|
Terrace House |
|
63,300 |
x |
100 |
= |
6,330,000 |
|
Semi D |
|
201,600 |
x |
80 |
= |
16,128,000 |
|
Shop |
|
198,000 |
x |
20 |
= |
3,960,000 |
|
Flat |
|
32,635 |
x |
200 |
= |
6,527,000 |
|
|
|
|
|
|
|
52,811,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
iii )GDV |
Terrace House |
|
348,000 |
x |
215 |
= |
74,820,000 |
|
Terrace House |
|
208,000 |
x |
100 |
= |
20,800,000 |
|
Semi D |
|
668,000 |
x |
80 |
= |
53,440,000 |
|
Shop |
|
483,000 |
x |
20 |
= |
9,660,000 |
|
Flat |
|
42,000 |
x |
200 |
= |
8,400,000 |
|
|
|
|
|
|
|
167,120,000 |
|
|
|
|
|
|
|
|
iv) Profesional Fee |
10.5% Buiding Cost ii) |
|
52,811,000 |
x |
10.5% |
= |
5,545,155 |
|
10.5% of Land Cost i) |
|
4,306,100 |
x |
10.5% |
= |
452,141 |
|
|
|
|
|
|
|
5,997,296 |
|
|
|
|
|
|
|
|
v) Contigentcy |
Contigency |
|
167,120,000 |
x |
5.0% |
= |
8,356,000 |
|
|
|
|
|
|
|
8,356,000 |
|
|
|
|
|
|
|
|
vii) Marketing & |
Marketing & Promotion |
|
167,120,000 |
x |
1.7% |
= |
2,841,040 |
Promotion |
|
|
|
|
|
|
2,841,040 |
|
|
|
|
|
|
|
|
viii) Other |
Admin & Management |
|
65,000 |
x |
24 |
= |
1,560,000 |
|
RM 65k / month 2 years |
|
|
|
|
|
1,560,000 |
|
|
|
|
|
|
|
|
ix) Financial |
Land i) |
|
4,306,100 |
x |
16.0% |
= |
688,976 |
at 8% per annum |
Building ii) |
|
52,811,000 |
x |
16.0% |
= |
8,449,760 |
or at 16% for 2 year |
Profesional fee iv) |
|
5,997,296 |
x |
16.0% |
= |
959,567 |
|
Contigencies v) |
|
8,356,000 |
x |
16.0% |
= |
1,336,960 |
|
Admin & Management
viii) |
1,560,000 |
x |
16.0% |
= |
249,600 |
|
|
|
|
|
|
|
11,684,863 |
|
|
|
|
|
|
|
|
x) Targeted Profit |
25% of GDV |
|
167,120,000 |
x |
25.0% |
= |
41,780,000 |
|
|
|
|
|
|
|
41,780,000 |
|
|
|
|
|
|
|
|
xii ) GDC |
Land i) |
|
|
|
|
|
4,306,100 |
|
Building ii) |
|
|
|
|
|
52,811,000 |
|
|
|
|
|
|
|
|
|
Profesional iv) |
|
|
|
|
|
5,997,296 |
|
Contigency v) |
|
|
|
|
|
8,356,000 |
|
|
|
|
|
|
|
|
|
Marketing & Promotion
vii) |
|
|
|
|
2,841,040 |
|
Other viii) |
|
|
|
|
|
1,560,000 |
|
Finance ix) |
|
|
|
|
+ |
11,684,863 |
|
|
|
|
|
|
|
87,556,299 |
|
|
|
|
|
|
|
|
xiii) Residue Value |
GDV iii) |
|
|
|
|
|
167,120,000 |
(Land Value Upon |
less ( GDC ) xii) |
|
|
|
|
|
-87,556,299 |
Completion) |
less ( Targeted Profit ) x) |
|
|
|
|
|
-41,780,000 |
|
|
|
|
|
|
|
37,783,701 |
|
|
|
|
|
|
|
|
Present Value |
1 / ( 1 + I ) ^ n |
|
|
|
|
|
|
n = 2 |
= 1 / ( 1 + 0.08 ) ^ 2 |
|
|
|
|
|
|
i = 8% |
= 1 / 1.08^2 |
|
|
|
|
|
|
|
= 1 / 1.1664 |
|
|
|
|
|
0.85733882 |
|
|
|
|
|
|
|
|
Assumption
: the 8% interest is applicable throughout the development |
|
|
Assumption
: development on the land completed in 2 years |
|
|
|
|
|
|
|
|
|
|
|
|
Land Value |
Residue Value x PV |
|
37,783,701 |
x |
0.85734 |
= |
32,393,434 |
|
|
|
|
|
|
|
32,393,434 |
|
|
|
|
|
|
|
|