The deficit in FY2021 is 86 per cent higher than FY2020, HDB said in a press release on Monday (Oct 31) for its FY2021/FY2022 annual report, which covers the period of Apr 1, 2021 to Mar 31, 2022.
Above is reported in CNA. Apparently the more HDB built, the more money it lost. Is this trend going to continue and HDB continues to lose and lose more money? Can HDB build and not losing so much money, not even want to think of HDB making money from its building programme? This is a miracle, the world's first monopoly building contractor losing money. HDB is like doing charity work. OK, if the charity benefits Singaporeans? What if the charity benefits foreigners, new citizens and using tax money to pay for it? Should this charity continue?
The next question, if HDB is going to lose billions by its building programme, why is it desperately building and building and building more flats? The Singaporean population is not growing and barely replacing itself. Why then is there a need to build more and more flats and sacrificing our few pieces of precious land, cutting down the few pieces of nature that are left, eating away the habitat of our flora and fauna?
When HDB is building for our citizens and losing money in the process, we can understand. It is money spent to improve the living condition of our citizens. If the building of more flats, sacrificing precious little land left, for the sake of bringing in foreigners to be here, and losing billions in the process, does it make any sense? What are the returns or benefits for building more flats for foreigners(new citizens) to justify this big loss?
Cannot be the same reasoning that foreigners are here to create jobs for jobless no talent and no skill Singaporeans, so it is justifiable to make all the sacrifices and losses to build more flats for the foreigners/new citizens to be here, to become new citizens? Why would HDB want to lose big money in a big way by building so many flats and losing so much money and never think of stopping this losing business?
How many more flats are going to be built, how many more lands are going to be used, and how many billions are going to be lost to build more flats to grow the population with foreigners instead of Singaporeans?
Why continue with this loss making process? Would it be better to stop this loss by cutting down on this building programme or at least shrink the number of flats to be built for new economic migrants and to be paid by tax payers' money?
All this is for growth, for growing the economy, growing the GDP?
I can't figure. Can anyone figure? What do you think?
17 comments:
When one loses big, another gains big.
Question is;
Why and how loss is incurred?
And
who gains from the Loss?
Got to look into the Reason and not just accept the Report without examining how the Result came about, especially if it is least expected to be so.
This is a no-brainer. This lost, first of all, is not a loss. It's called clever accounting.
It is using land, inflated land that was supposed to build at costs, to increase to such an extent that it has become a "lost".
So, whenever HDB shout out that it makes a loss, just listen but never react.
Why would HDB keeps taking away forest reserves to build and build 🤔? AT A LOSS?
BTW, HDB has never made any losses!
I tried to figure out why HDB is addicted to losing so much money, but cannot figure out why. Give me 50 years. A very good time frame when many involved will not be around. Including myself.
Wonder how much money they've lost on building bicycle tracks all over the island for expat foreigner cyclists to enjoy a better life style in Singapore . .
Lose money keep building
Ministers very very good
Look at SLA accounts. They made billions
They made billions without a single effort! That's the beauty of all these.
Just use the 1973 Act to confiscate/compulsory acquisition the people's lands and sell them to the highest bidders, including the HDB.
That's how HDB will continue to make a "loss" year after year, while the SLA will continue to make $Billions every year!
When demand stalls, they build fewer flats. Demand soars, they build and increase prices. Either way, they win the argument.
Is that what happens with COEs?
When the lies get too blatant and the show too fantastic even the brainwashed and die hard supporter will make a beeline for the exit.
Why losing so many billions still like nothing, like so happy like dat? Why no one questions about how to cut losses or how to turn it into profit? Private business already close shop leow.
'Do You know who l
am?' Even if they were masked-up with Halloween Disguised Devil Mask.
Favourite question by Sin Rulers to commoners.
Do You know why our Sin Rulers
are so arrogant and audacious toward the People? The
Answer is simply to tell the People that they are your lords and that the Commoners better know where they stand. Know your status and not 'boh tua bo xuay', meaning You better know l am your master. Otherwise....ahem ahem.....
........
The so-called $4.37b loss pales in comparison to the many $billions they've made just by printing a piece of paper - the COE
If HDB losses money, why hdb staffs still get bonuses. Underperformed peoples should get less.
They simply don't know how to cut costs! This is the think skin mentality.
How is it even possible for an establishment like the HDB be lossing money? This report must be taken with $Billions of SALT. The report cannot be taken as the TRUTH.
It is absurdity at the most. The worst cast scenario is "polished" accounting.
Maybe should ask HDB management how much bonuses did all of them got the pass years?
HDB is a good employer. Losing billions still paid good bonuses. Just wondering what kind of bonus payment formula they used. Is it peg to how much they lost, the more they lost, the higher the bonus?
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