Khaw Boon Wan - HDB Lease Buyback Scheme a success

‘Through the Lease Buyback Scheme (LBS), the elderly living in HDB flats can use the tail-end of their flat leases to fund their retirement plan, without leaving their flats. Since LBS was launched in 2009, we have taken on board public feedback and made several enhancements to the scheme.

The latest enhancements took effect on 1 April 2015. We extended LBS to 4-room flats, raised the income ceiling from $3,000 to $10,000, offered varying leases, and allowed households with two or more owners to get more upfront cash.

The enhancements were well received. Over two months, 450 households applied for LBS. If all are successful, this will be a 50% increase over the 965 households currently participating under LBS.’ – Boon Wan

I cannot fault the Govt for all the schemes they have crafted to help the people that needed help to survive in the world’s most expensive city of millionaires. Some may find it strange that the Govt would have to come up with all kinds of things to help the millionaires and half millionaires to get by, including selling the only piece of worthy asset they have. And this LBS is getting more successful by the day with more and more half millionaires hooking up to the scheme.

I am sure all the generous schemes to help the poor millionaires are also very successful. The queues for free abalone porridge or free chicken rice must also be very long and very successful. The queues for handouts must also be very long and a good thing to celebrate, another successful govt aid scheme. Last night the queue at MRT stations for a $50 top up was so successful that MRT stations were packed and some scenes were quite chaotic with the oldies frantically pushing to get their $50 in case they missed it.

From another angle, I look at these successful schemes as a failure in our society, where people are in desperate needs for help, all kinds of help that the Govt can offer. I would rather celebrate when all the Govt assistance schemes failed, made redundant, in the sense that the people did not need them, that the people are wealthy or comfortable enough to be on their own, without having to depend on Govt assistance schemes. The more Govt assistance schemes available, the more successful they are in terms of recipients and people hoping and needing assistance, the more it is a sign of a failed society.

Why would a city of millionaires and half millionaires be seeking Govt assistance schemes and willing to queue in public to tell the world that they need handouts, charity and assistance, that they are failures in life? In this sense, I hope to see that all the Govt assistance schemes are not well attended and not well received or even rejected by the people as the people are comfortable enough not to have to beg and queue for such schemes.

When all these schemes are successful, it is not something to crow about, to be proud of, not something to cheer about like winning gold in the SEA Games. It is a sign of failure to improve the well being of the people, to spread wealth and affluence to the people.

When the pawn shops are doing roaring business and more new pawn shops are sprouting up the HDB estates, it is bad, it is not something to claim credit for.

Am I crazy to say this?


patriot said...




Anonymous said...


U Are Not Crazy! U Are Not Crazy!

Are all these the SG50 we are celebrating?

Sad, Very Sad, Very Very Sad, Indeed!

Anonymous said...

When the pawn shops are doing roaring business and more new pawn shops are sprouting up the HDB estates, it is bad, it is not something to claim credit for.

Not really lar, as long as it can promote GDP growth.

I mean, if casinos, and not one but two, are OK to promote GDP growth, why not pawnshops, u tell me lar?

Remember, if anything, even PAP, is bad, always think and compare it with casinos, or the "not ready to be govt" Sinkie opposition. Then relatively, it will not be that bad.

Anonymous said...

Yes RB, you are spot on. These goodies and other giveaways are sign of election coming and that the people are in need of the handouts. This is afterall the most expensive city to live on but with the lowest salary (relatively speaking)

Anonymous said...

Do they still call them pawnshops? I thought they are now called 'cash converters'. No more are they situated in dark corners, but decked in bright lights along high traffic areas and people are proud to be seen in them hor. If this is a sign of good business it must be good for the GDP. Nothing is more important than that.

Anonymous said...

Someone once said that KBW was the BEST Health Minister!

Now, KBW should be the BEST National Development Minister!


Anyway, good for him!

Anonymous said...

Wah! Now you can even pawn your HDB flats to the government.
After 50 years of PAP government.
This is indeed the crowning glory of our public housing policy.

CBS said...

Dun wah so fast.

When the push becomes shove, u are oso allow to "pawn your wives and daughters to the 'PimpsAndProstitutes' and their co-sleepers 'Whores'Pimps'."

U ain't seen the "clownies" glories yet of this extreme eugenics social engineering.

"男的世世为奴" ("national slavery")

"女的代代为娼 ("national prostitutes")

How many women in the society now are not "bedding/ sleeping with other men/ foreign workers"? Open your eyes and look around your working places, who are checking into Hotels, who are staying up late to work "overtime", who are skipping lunch to have "afternoon siesta", who disappear to have "smoking/ quickie break" ........

Mb many people are already pawning their "reproductive organs" for short time to feed their growing needs ......

Welcome to the brave new monsters created ( and voted by oldies ..... ) .......

Anonymous said...

Millionaire Khaw is so proud of his HDB pawnership scheme.
From HDB flat owners to HDB flat pawners in 50 years.
Singaporeans have indeed progressed very far in 50 years of PAP Leedership.

Khaw dung belongs to where it belongs. ..... With Khaw dung in the midst, the place stinks said...

Khaw dung is just Khaw dung.

U can smell the awful stench even holding your nose miles away.

What more talking about being edible?

It will choke u to death.

Since when Khaw dung can be eaten or credibly edible?

Anonymous said...

It is a well known fact that Singaporeans would queue for anything that is free. Rich or poor alike, Singaporeans are by nature quite greedy. Anything free must be taken whether needed or not.

Daft eat shit again remember JB? said...

If he can be trusted, then Khaw dung can be eaten.

ℳatilah_$ingapura said...

@ RB:

>> Why would a city of millionaires and half millionaires be seeking Govt assistance schemes and willing to queue in public to tell the world that they need handouts, charity and assistance, that they are failures in life? <<

Because in Singapore, everything runs by MAGIC. Contradictions are not only made possible, they are NECESSARY for the cuntry to run properly.

Here are examples:

1. CPF is your money but not your money

2. You own your HDB, but actually don't own it but lease it instead.

3. You can sell back your HDB which you own and don't own (at the same time!) and then continue to rent it, thus continue living in it...

4. One party dominates, but elections are free.

5. Ballots are secret, but they are numbered

...and so on.

Singaporeans have long stopped scratching their heads, however the rest of the world watches in awe. What humans generally accept as "logic" is replaced by "magic" in Singapore.

And guess what? The "magic" continues to work.

Anonymous said...

Must create the problem first mah, otherwise where got problem to solve, where got chance to claim your scheme is so successful ? More importantly, where got million dollar jobs ?

'Mat said...

This minister Khaw BW claims to be a devout Buddhist and yet he shows such cruel and evil traits. He is so self-satisfied when more people pawn their flats. He doesn't seem to know that only desperate people visit the pawnshops. That there is something wrong in their lives and their families are in need and desperate.

Ah Khaw sees the success of his HDB flat-pawning scheme as a good thing and encourages flat dwellers to go pawn their properties.

What a rotten mad Buddhist COW he is!

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