Transparency is a crucial factor in considering investment in the real estate market, thus its absence in a property market is seen by some researchers in the field as related to corruption in the property market, thus low transparency or... more
Transparency is a crucial factor in considering investment in the real estate market, thus
its absence in a property market is seen by some researchers in the field as related to
corruption in the property market, thus low transparency or opacity being synonymous
to corruption, without empirical proof. This study therefore, tested the relationship
between the real estate market transparency and individual country’s level of corruption
and population size using indexes from two independent global rating bodies, the Jones
Lang LaSalle’s Global Real Estate Transparency Index (GRETI) and the Transparency
International’s Corruption Perception Index (CPI) for 96 countries for an average of 6
years in order to determine whether the assertion is true. The study adopted the
Pearson Correlation to justify the assertion that a nation’s transparency index is
dependent on its corruption level vis-à-vis population density. It was found out that there
is a strong correlation between the level of corruption in a nation and its transparency
level giving a 0.740 correlation coefficient at 1% significance level, while there was no
significant relationship between a country’s population density and its transparency
level and corruption on the other hand. In conclusion, the study adopted Regression to
develop an equation that could predict a markets transparency level given its corruption
index. This study has statistically proven that there exists a correlation between
transparency and corruption using an aggregate of at least 6 years for each of the
market studied. The study concludes that the Transparency International’s CPI can be
used to determine a yearly transparency level of a nations’ property market, rather than
waiting for GRETI’s index which is publishable once in two years. The study
recommends that, in order to achieve a more transparent market, it is paramount for
low transparent and opaque nations to fight against corruption.
its absence in a property market is seen by some researchers in the field as related to
corruption in the property market, thus low transparency or opacity being synonymous
to corruption, without empirical proof. This study therefore, tested the relationship
between the real estate market transparency and individual country’s level of corruption
and population size using indexes from two independent global rating bodies, the Jones
Lang LaSalle’s Global Real Estate Transparency Index (GRETI) and the Transparency
International’s Corruption Perception Index (CPI) for 96 countries for an average of 6
years in order to determine whether the assertion is true. The study adopted the
Pearson Correlation to justify the assertion that a nation’s transparency index is
dependent on its corruption level vis-à-vis population density. It was found out that there
is a strong correlation between the level of corruption in a nation and its transparency
level giving a 0.740 correlation coefficient at 1% significance level, while there was no
significant relationship between a country’s population density and its transparency
level and corruption on the other hand. In conclusion, the study adopted Regression to
develop an equation that could predict a markets transparency level given its corruption
index. This study has statistically proven that there exists a correlation between
transparency and corruption using an aggregate of at least 6 years for each of the
market studied. The study concludes that the Transparency International’s CPI can be
used to determine a yearly transparency level of a nations’ property market, rather than
waiting for GRETI’s index which is publishable once in two years. The study
recommends that, in order to achieve a more transparent market, it is paramount for
low transparent and opaque nations to fight against corruption.
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Since transboundary haze pollution often occurs and it is a major threat to Malaysia, thus very important for the government to monitor the air quality status from time to time. SK Batu Muda is one of the locations for pollution data... more
Since transboundary haze pollution often occurs and it is a major threat to Malaysia, thus very important for the government to monitor the air quality status from time to time. SK Batu Muda is one of the locations for pollution data observation by Department of Environment Malaysia (DOEM). SK Batu Muda was the most affected location with highest the Air Pollutant Index (API) reading in 2015 compared to year 2016 and 2017, this is considered as anomalies in API reading. To overcome the issue, two types of Exponential Weighted Moving Average (EWMA) control chart are proposed to accurately monitor the air pollution levels in SK Batu Muda named as classical EWMA and iterative re-estimation EWMA. This is to prevent the inflation ofthe control limits which consequently will cause the power to detect changes in the data to be reduced in Phase II. Based on average run length (ARL) results, the iterative re-estimation EWMA control chart in Phase II has tighter control limits compared to classical. As conclusion, the iterative re-estimation EWMA chart is more efficient to handle the anomalous situation for API reading.
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Linear discriminant analysis (LDA) is one of the supervised classification techniques concerning relationship between a categorical variable and a set of continuous variables. The main objective of LDA is to create a function to... more
Linear discriminant analysis (LDA) is one of the supervised classification techniques concerning relationship between a categorical variable and a set of continuous variables. The main objective of LDA is to create a function to distinguish between populations and allocating future observations to previously defined populations. Under the assumptions of normality and homoscedasticity, the LDA yields optimal linear discriminant rule (LDR) between two or more groups. However, the optimality of LDA highly relies on the sample mean and pooled sample covariance matrix which are known to be sensitive to outliers. To alleviate these conflicts, a new robust LDA using distance based estimators known as minimum variance vector (MVV) has been proposed in this study. The MVV estimators were used to substitute the classical sample mean and classical sample covariance to form a robust linear discriminant rule (RLDR). Simulation and real data study were conducted to examine on the performance of the proposed RLDR measur...
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The construction of green building takes into account environmental, social and economic factors throughoutits life cycle. Although previous studies have shown that these factors influence the value of a property, the applicability of the... more
The construction of green building takes into account environmental, social and economic factors throughoutits life cycle. Although previous studies have shown that these factors influence the value of a property, the applicability of the findings from such studieswith regard to property valuation practice is still limited. This is due to lack of awareness on the effects of green aspects particularly among valuers. The same can be said in the case of Malaysia where there is lack of consideration on the potential impact of the underlying principle of sustainability in the market value of green commercial office buildings. As a result, these environmentally friendly buildings which take into account the factors mentioned earlier and that are implemented in their construction are not properly valued. Thus, the aim of this paper is to investigate earlier attempts made by valuers to recognize the need for reviewing the valuation practices in relation to the growing number of green buildingsby exploring the global literature within the past decade. The paper presents review of literature on the impact of green features on the value of commercial office buildingby looking at those which incorporated the Concentric Ring model. The findings of this paper indicate that there is a strong relationship among all green features that affects the value of a property. However, due to lack of awareness of green building features among Malaysian valuation practitioners, the impact of green initiatives on property valuation has not been perceived clearly in the market. Hence, the highlighted green factors and their attributesin this paper could be used as a guidance to justify the consideration of green building features in valuing the green commercial office building in the future.
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This paper proposed the method of parameter estimation for bilinear model, especially on BL(1,0,1,1) model without and with the presence of additive outlier (AO). In this study, the estimated parameters for BL(1,0,1,1) model are using... more
This paper proposed the method of parameter estimation for bilinear model, especially on BL(1,0,1,1) model without and with the presence of additive outlier (AO). In this study, the estimated parameters for BL(1,0,1,1) model are using nonlinear least squares (LS) method and also through robust approaches. The LS method employs the Newton-Raphson (NR) iterative procedure in estimating the parameters of bilinear model, but, using LS in estimating the parameters can be affected with the occurrence of outliers. As a solution, this study proposed robust approaches in dealing with the problem of outliers specifically on AO in BL(1,0,1,1) model. In robust estimation method, for improvement, we proposed to modify the NR procedure with robust scale estimators. We introduced two robust scale estimators namely median absolute deviation (MADn) and Tn in linear autoregressive model, AR(1) that be adequate and suitable for bilinear BL(1,0,1,1) model. We used the estimated parameter value in AR(1) model as an initial va...
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Linear discriminant analysis (LDA) is a widely used multivariate technique for pattern classification. LDA creates an equation which can minimize the possibility of misclassifying observations into their corresponding populations. The... more
Linear discriminant analysis (LDA) is a widely used multivariate technique for pattern classification. LDA creates an equation which can minimize the possibility of misclassifying observations into their corresponding populations. The main objective of LDA is to classify multivariate data into different populations on the basis of a training sample with known group memberships. Under ideal conditions that is when the distribution is normal and variances are equal (homoscedasticity), LDA performs optimally. Nevertheless, the classical estimates, sample mean and sample covariance, are highly affected when the ideal conditions are violated. To alleviate these problems, a new robust LDA model using winsorized approach to estimate the location measure to replace the sample mean was introduced in this study. Meanwhile, for the robust covariance, the product of Spearman’s rho and the rescaled median absolute deviation was used as the substitute for the classical covariance. The optimality of the proposed model in terms of misclassification error rate was evaluated through simulation and real data application. The results revealed that the misclassification error rate of the proposed model were always better than the classical LDA and were comparable with the existing robust LDA under contamination. In contrast, in terms of computational time, classical LDA provide the shortest time followed by the proposed model and the existing robust LDA.
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The impact of natural disasters such as flood, tsunami, earthquakes or hurricane may effect on the nation’s asset as well as the economy growth. The disaster cannot be avoided as it is natural, however there are other unnatural threats... more
The impact of natural disasters such as flood, tsunami, earthquakes or hurricane may effect on the nation’s asset as well as the economy growth. The disaster cannot be avoided as it is natural, however there are other unnatural threats including accident, crime, ethnic unrest,health concerns, political unrest, terrorism and war. In conjunction with this matter, anycountry including Malaysia should always be prepared on how to ensure the safety and security of the asset although Malaysia is located within the safe boundary. The latest event of earthquake 2012 in Indonesia recently has increased the level of awareness towards anythreats. Thus, this paper will overview and identify the threats that happened especially inSouth East Asia. Other than that, this study will explore the current issue on safety and security of critical asset management. Further details of the security protection planned for the asset is actually rely on the critical asset classification.
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Research Interests: Business and Preference
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Change impact analysis has been defined as identifying the potential consequences of a change, or estimating what needs to be modified to accomplish a change. The term "impact analysis" is used with many meanings, it’s used for... more
Change impact analysis has been defined as identifying the potential consequences of a change, or estimating what needs to be modified to accomplish a change. The term "impact analysis" is used with many meanings, it’s used for characterizing and comparing diverse impact analysis approaches, it corresponds to how an approach is used to accomplish impact analysis and how an approach does impact analysis internally, and the effectiveness of the impact analysis approach. As the project management community recognize the growing need to identify consequences of changes, impact analysis is making its way into the software process and dependencies between project life cycle objects are becoming more numerous and complex as many IT projects grow beyond a large number of requirements. Therefore, this paper deals more on investigating further how software practitioners use and make use of impact analysis as part of the process of managing change and how impact analysis is applied during software changes. The improvement of primary data with project management practitioners will be identified.
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Listed property companies are considered as another type of investment in the area of property investment in the global market. Therefore, listed property companies attract interest from a wide market globally. It has been observed that... more
Listed property companies are considered as another type of investment in the area of property investment in the global market. Therefore, listed property companies attract interest from a wide market globally. It has been observed that most of the previous researches have focused on risk adjusted return, diversification potential, optimal asset allocation and the dynamics of volatility of the investment whilst studying the performance of listed property companies. In addition, there have been some researches also conducted on the Malaysian listed property companies in the past. Hence, this paper attempts to provide a thorough understanding and knowledge of the listed property companies globally especially in Asia.
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The importance of living “green” has evolved and practiced around the globes nowadays. This included greening the buildings in order to absorb the benefits of living in green in daily life. There are lots of new and existing buildings... more
The importance of living “green” has evolved and practiced around the globes nowadays. This included greening the buildings in order to absorb the benefits of living in green in daily life. There are lots of new and existing buildings that being transformed into green building. The development of green buildings got well supports from all channels including the local municipal. The local municipal in United States have provided three types of property tax incentives for green buildings which are property tax exemption, property tax reduction and property tax credit. Each of these models was developed according to Leadership in Energy and Environmental Design (LEED) criteria. Whereby Malaysia are using Green Building Index (GBI) criteria as listed in GBI’s Malaysia. Therefore, this paper focuses on LEED’S criteria that been used in the property tax incentives in order to establish property tax incentives according to GBI on green buildings in Malaysia. This is essential in order to explore the potential of property tax incentives on green building to be develop in Malaysia. Thereby, this paper attempts to determine the bases used in formulating these property tax incentives models for green building by achieving these two objectives which are: 1) to explore types of property tax incentives that available for green buildings in United States and 2) to determine the bases in formulating property tax incentives model for green buildings. This paper was focused on a 44 local municipals in United States that provided property tax incentive for green buildings. The results show that there were no specific or definite bases used in formulating all the property tax incentives models.
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Housing affordability remains a major issue in Nigeria especially for those residing in major cities. Purchasing of a desired house is a key life accomplishment that top mostly every household or individual’s list. The search for a... more
Housing affordability remains a major issue in Nigeria especially for those residing in major cities. Purchasing of a desired house is a key life accomplishment that top mostly every household or individual’s list. The search for a suitable house comes with diverse consideration while relating with the situation of the housing market, hence the intervention of Government towards housing affordability are generally acknowledged as a vital way of improving the condition of housing affordability for the low-middle income groups. This paper examines the various factor that can enhance the potentials of housing affordability in Nigeria. A survey research approach was adopted in the obtaining the needed information for the study. Questionnaires was distributed in the southwestern part of Nigeria. The data obtained was analysed using a descriptive analysis. There is need for a concerted effort of both government and individuals towards the unleashing of affordable housing delivery in the country. The findings reveal that provision of infrastructural facilities, stimulation of local building material usage, review of housing related polices and so on are the most factor that can promote affordable housing in the country. This study could become a basis for government to revise the current housing policy design for housing delivery and ownership in the country. The paper concludes that the combination of identified factors through government support will stimulating a balanced equilibrium and accelerate the release of housing affordability across the country
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The construction of green building takes into account environmental, social and economic factors throughoutits life cycle. Although previous studies have shown that these factors influence the value of a property, the applicability of the... more
The construction of green building takes into account environmental, social and economic factors throughoutits life cycle. Although previous studies have shown that these factors influence the value of a property, the applicability of the findings from such studieswith regard to property valuation practice is still limited. This is due to lack of awareness on the effects of green aspects particularly among valuers. The same can be said in the case of Malaysia where there is lack of consideration on the potential impact of the underlying principle of sustainability in the market value of green commercial office buildings. As a result, these environmentally friendly buildings which take into account the factors mentioned earlier and that are implemented in their construction are not properly valued. Thus, the aim of this paper is to investigate earlier attempts made by valuers to recognize the need for reviewing the valuation practices in relation to the growing number of green buildi...
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Stratified residential property management, one of the sub-sectors of the real estate industry in Malaysia, has been facing the pressures as the awareness amongst buildings occupiers of effective management has increased. In line with... more
Stratified residential property management, one of the sub-sectors of the real estate industry in Malaysia, has been facing the pressures as the awareness amongst buildings occupiers of effective management has increased. In line with recent literature on the increasing awareness of residents and the critically needs of effective property management, efforts are required to identify and clarify the critical activities and its attributes in managing the stratified residential properties that could effects the property management service delivery. This study used the partial least squares (PLS) and structural equation modeling (SEM) and followed by Importance-Performance Matrix Analysis (IPMA) to examine the 11 activities and their attributes. There were 11 activities and each of them consists of attributes that played as measurement variables that were believed could affect the property management. The IPMA results indicated that maintenance and financial is the key activities that c...
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The gas compression plant is a core and major unit in oil and gas industries that have high gas oil ratio or considerable gas production. Compressed gas is needed as fuel, support processing handling, increase reservoir builds up pressure... more
The gas compression plant is a core and major unit in oil and gas industries that have high gas oil ratio or considerable gas production. Compressed gas is needed as fuel, support processing handling, increase reservoir builds up pressure by gas injection as well as a useful product. Gas plants are critical and dangerous working location and it is classified as a critical zone due to circumstance parameters like high pressure, high temperature, gas specifications and the potential to impact to human health, safety, environment and possibility to impact invested revenues in case of incidents. Therefore, all recorded compression plant operational failures shall be assessed and reviewed in order to decrease the unit down time and increase plant safety and efficiency. In general, limited studies were conducted in gas plant maintenance management. This paper studied a working gas compression unit in an operating oil and gas field in order to present the followings: • A model of failures raking and sorting in gas compression plants based on total down time importance (TDTI) grouping. • A model of failures ranking by using the risk priority number (RPN). RPN is giving priorities based on associated risk and TDTI as a new method is providing rankings based on maximum contribution to the total occurred down time. Therefore, the study is elaborating to demonstrate these two methods and highlighted the areas of difference which need attention of the owner and the site working team.
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Water resource management at public university become a crucial issue when it was allied with water consumption among the students. It was due to an excessive water service charge faced by university and simultaneously effect on... more
Water resource management at public university become a crucial issue when it was allied with water consumption among the students. It was due to an excessive water service charge faced by university and simultaneously effect on optimization of university’s cost. However, an initial effort to reduce the cost is by investigating the water consumption behavioural pattern among the students because there is incipient consensus that huge service charge was coming from student residents in hostel. Then, the management of water should also presumptuous that it is vital as an economic resource. Therefore, the aim of this research is to determine the water behavioural pattern of student residents at Universiti Teknologi Malaysia (UTM). This research embarked quantitative approach to collect the data from students by distributing questionnaires for those who stayed at hostel in UTM. Descriptive statistics and Standard Deviation Ellipse (SDE) were used as methods to achieve the objective of t...
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Abstract Islamic REIT (I-REITs) were introduced to the Malaysian stock market approximately ten years ago. This paper assesses dynamic linkages by using the Granger causality test of I-REITs. The study period is from 2008 to 2014. The... more
Abstract Islamic REIT (I-REITs) were introduced to the Malaysian stock market approximately ten years ago. This paper assesses dynamic linkages by using the Granger causality test of I-REITs. The study period is from 2008 to 2014. The study concentrates on comparisons between I-REITs and conventional REITs (C-REITs) and provides a better overview of comparisons and linkages of both asset classes. A Cointegration Test determined that a mixed-asset portfolio is cointegrated and shows less diversification benefits between the mixed-asset portfolios. The Granger causality test results has identified that industry portfolio can cause Granger I-REITs’ returns to change. This further confirms that I-REITs have good potential to diversify within any asset classes, including shares and bonds.
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This paper discusses performance measurement in space utilisation at the university. Using planned timetabling of rooms usage, data are collected through interviews and questionnaire survey. The analysis shows that UFO rate for Universiti... more
This paper discusses performance measurement in space utilisation at the university. Using planned timetabling of rooms usage, data are collected through interviews and questionnaire survey. The analysis shows that UFO rate for Universiti Teknologi Malaysia (UTM) is as good as in the United States and United Kingdom. This paper suggests that in order to increase utilisation rate, HEIs should consider occupancy rate as it is the determining factor affecting the utilisation rate. The occupancy rate is derived from the number of students occupying the designated teaching and learning space.
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Islamic Real Estate Investment Trusts (I-REITs) have been established to enhance the Islamic Capital Market. Almost 10 years of establishment of I-REITs, it is interesting to study the performance of this Islamic property investment... more
Islamic Real Estate Investment Trusts (I-REITs) have been established to enhance the Islamic Capital Market. Almost 10 years of establishment of I-REITs, it is interesting to study the performance of this Islamic property investment vehicle because it is a potential and unique asset class that not fully explored. This paper examines the risk-adjusted performance analysis and correlation analysis between I-REITs in a mixed asset portfolio. The time period of study is from November 2008 to December 2014. I-REITs were compare in a mixed asset portfolio consists of shares and bonds. The results show that I-REITs outperform both shares market and bonds market. While I-REITs give high diversification benefits for the share and bond investors with low correlation between I-REITs, shares and bonds.
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Maintenance costs in public university buildings are increasing every year. Building maintenance activities have become increasingly crucial and the management of building maintenance must be in effective way as an attempt to reduce the... more
Maintenance costs in public university buildings are increasing every year. Building maintenance activities have become increasingly crucial and the management of building maintenance must be in effective way as an attempt to reduce the expenditures. The expenditure of public universities building facilities maintenance are based on fund allocation from the government operating expenditure and thus, the effective way of achieving cost reduction and optimization, became necessary. Life cycle cost (LCC) approach was suggested by several government bodies in producing a better cost management in public asset management. The components of building facilities have variation of life cycle which leads to the complication of LCC. Therefore, one of the shortcomings in implementing LCC on building facilities is lack of common process and activities. The conceptual framework of activity-based life cycle cost (ABLCC) of building facilities maintenance in public universities is proposed to effectively manage the cost management of building facilities maintenance. ABLCC approach can signify the activities cost components which explain the cost of building facilities activities. As building facilities is considered as at facilities level of activity based costing (ABC), the determination of the cost activities and cost drivers is important in order to formulate the process model of ABLCC. The establishment of the process model of ABLCC can reduce the complexity of implementing LCC for effective building facilities maintenance planning.