Wah Lan, BTO making losses

We used to have one guy shouting till his throat went sore that housing prices were affordable. Of course no sensible person will believe him no matter how long and how loud he shouted. Then Khaw Boon Wan came in to try to hold down the prices and started to build flats for the people in double quick time. It was obvious that Boon Wan does not believe in the other person’s shouting.

Yesterday in Parliament Ellen Lee came out with statistics to proclaim that BTO schemes are making losses to the tune of several tens of millions per project. She quoted the HDB building 1016 units at a cost of $279m while the sales proceed was only $240m because of generous subsidies, thus making a loss of $39m. At the rate this is going I think HDB will go bankrupt soon and would not be able to pay its staff lavish bonuses like before.

The statistics must be real, the truth, no bluff one. Since there is such a good set of statistics being flashed in Parliament, it would be good if the breakdowns could be given to prove that HDB is indeed subsidizing the buyers. If that can be done then there is no need to keep shouting until face red red. And can stand up to scrutiny, no need to turn away when someone ask for transparency.

Parliamentarians should take this opportunity to ask for detail breakdowns of this set of numbers. Not only the opposition candidates. Those from the ruling party who have independent mind or claim to have independent mind and can speak freely will have a real chance to speak up on this issue.

Let’s see how many can be independent minded and will speak out for truth and transparency.


jjgg said...

RB ..wah lau eh...n the civil service still get their mid year bonus..why their building costs so high ah...even with public services thrown in...maybe bto apartments got gold tap...

Anonymous said...

This subsidies thingi is a real joke that even all my kids know is a joke but perhaps 60% of the daft sinkies believe it

Anonymous said...

Wah..$39m loss and they already KPKB.
So sinkies have been raiding the reserves eh?!
How about $1.1billion that we have to come up to subsidize the SMRT/LTA for their "privatized" companies?
Tell me, after $1.1b minus $39m, there're still chum change for Khaw to buy the entire nation a $2,200 brompton bikes leh!!

Anonymous said...

Yiu gave a funny way of putting it. Agree totally with your view.

Matilah_Singapura said...

Hah. Now you kena. They will play this until they justify your "gratitude" for their welfarism.

Fall on your knees, feudal serfs. Give thanks to your Almighty Emperor for his heavenly "generosity".

Got genuflect?

Matilah_Singapura said...
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Matilah_Singapura said...
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agongkia said...

Wah Lau.
How can this carry on like that.
Should be grateful to our Garmen for providing cheap housing but
must investigate why it cost 279m to built flats when the proceed is only 240m.Poor in Maths?
Should either raise the selling price or to investigate whether anything wrong with the award of contracts.
You all must learn to appreciate how much effort they put in to make you guys happy,even at a loss.So dun kpkb.I started to have faith in our Garmen.

Chua Chin Leng aka redbean said...

These must be real subsidies or else how to end up as loss? Sinkies better be grateful, be very grateful

Anonymous said...

Better believe them.

The Rulers are incorruptible


they will never lie or mislead


Anonymous said...

It is now quite well known in Singapore that the magic is the LAND PRICE.
Fortune indeed are "made or break"and many Citizens,PRs and evn foreigners now know the trick well.

Anonymous said...

Wah lau, tee ahh

Statistics can be massaged to suit the occasion. Further, the numbers are for them to fill in. You want to believe them meh! After all these years!

They can fool most Singaporeans, but they cannot fool Hougangers, even 20 years ago.

Anonymous said...

they been using this scamful practice as the norm.

It is akin to telling you that the transport company has been losing ton of money because they postpone increasing fare.
For example,
the profitable public transport company ask for 20% fare hike, and is to ask to delay due to negative ground sentiment. So they state that they have lost 20% fare hike of profit during these period which is a loss to them.

How sinful can these clowns be ?

Anonymous said...

This is bad news. When someone cry loudly in Parliament of such loss, it only means one thing. HDB is thinking of raising their prices. How can Sinkies say no? The fact is HDB is losing money and we do not want HDB to go bankrupt, do you?

Anonymous said...

Highly possible. Preparing the ground for price increase just like the last regime, claiming a surplus stock of 10,000 units to stop building.

Anonymous said...

When prices of houses go up, Sinkies should be happy that they are owning million dollar properties.
Wow, if they sell their properties, they can buy big bungalows with huge garden in Malaysia, Thailand and even Indonesia.

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