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1/02/2007

leong sze hian - settle question of hdb subsidy

Settle question of HDB subsidy once and for all A few days back Viktor Ye Kok Kheong wrote in the ST forum 'Did HDB land pricing use Raffles Place as rule?' The HDB replied that it was difficult to reveal all the details of land and construction costs of specific projects etc... and that was why HDB is incurring losses. This is probably the only monopoly business where land prices from land acquisition from owners at a price determined by the govt, but definitely not at the Raffles Place price charged to HDB, and losing money. Leong Sze Hian is not letting the matter rest and pursuing with another letter today asking for some figures for the sake of transparency and high standard of corporate governance. What will happen is that it is a matter of days when HDB would have to disclose its numbers. It is either now or later. And not for long when Singapore is singing the glory of its high standard of corporate governance and transparency.

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