The latest $797m deficit that HDB said it has incurred due to the
building of more flats is going to be disturbing to many readers. It was
$2b a few years back, then it was $1b of losses. In these three
announcements, a total of $3.797b has been lost by HDB on behalf of the
MND. Can the ministry really believe that the people will be convinced
by these numbers without questions asked? Can the ministry blame the
people for doubting the validity of these numbers given the market
pricing of the flats sold?
What is the purpose of the ministry declaring that it made such colossal
losses? Is the ministry telling the people that the govt is so generous
in absorbing the huge losses that should otherwise be forked out by the
buyers of the flats? Is the ministry trying to tell the people that
they should be grateful to the govt for carrying the losses? Or is there
any other purpose or reason for wanting to show the people such drastic
sums of money lost for building HDB flats?
Whatever is the agenda, it is going to boomerang and instead of gaining
some goodwill or sympathy and understanding, it is raising many
eyebrows. Pardon the people for saying, ‘How can it be?’ Throw a straw
poll or a proper survey and I can guarantee that most people would not
want to believe the numbers. They are just so difficult to believe to
the point of absurdity. Don’t blame anyone for thinking this way.
If the ministry thinks it fit to throw out such numbers, it must be
prepared to give the details to remove all doubts. If it is not prepared
to do so, this could be a failed PR exercise that makes thing looks
even worse. It is better not to issue such claims and probably the
people would not even think about it. Saying it only invites a lot of
unnecessary questions and even anger and cynicism from the people.
So, MND, what do you think?
31 comments:
"If the ministry thinks it fit to throw out such numbers, it must be prepared to give the details to remove all doubts."
RB
Why need to remove all doubts, when there is no doubt the strongest opposition will still not be ready to be govt even by 2016?
Whether declare its losses or not, failed PR exercise or not, raised eyebrows or not, doubts or no doubts, but HDB is still the best available housing for poor and ordinary Sinkies, tio bo?
And can Sinkies make WP stronger and ready to be govt?
If cannot, and whatever it is, Sinkies also bo pian (no choice), tio bo?
@ anon 8.56 am:
// Why need to remove all doubts, when there is no doubt the strongest opposition will still not be ready to be govt even by 2016? //
Don't you have a better line of defence?
If this is all you are capable of all day long, and if you are a microcosm of what your masters are capable of, I believe many might start to think SinkieLand is doomed.
Aren't there any better calibre cadres to front your PR exercise here? Are you the best they can assign?
Whither SinkieLand?
I hope not ....... ! @?@ T.T
Aiya, this is the mental sum of the PAP calculation:
I am supposed to tax you 100 dollars, now I am only to tax you 20 dollars.
So we lost 80 dollars.
thus total we lost so many millions.
But, if we were not to tax you this amount, where got lost????
Also, we did not tell you the billions that we had sucked from you
Maybe the PAP govt may need to raise the GST again to make up for the losses or deficits.
Or further delay the withdrawal of Sinkies CPF?
But will the opposition (cannot always count on WP lah, tio bo) become stronger as a result?
What do you think?
@ Virgo 49 9.07am
" Also, we did not tell you the billions that we had sucked from you "
Billions or countless gallons of "people's blood"?
No wonder there are so many listless people nowadays walking around like zombies .......
Inside their bodies, organs, brains, blood vessels, hearts etc ( aka pockets, bank accounts, wallets, savings, retirement accounts, cpf accounts, medisave account ..... ) many already depleted of much needed blood and oxygen ( aka cash flow ) liao!
Only two possibilities. One is to tell people how generous the government is. Therefore please vote for them. Second is the possibility of raising the housing price further. Sure lah, HDB is not making money, you know!
Since HDB loses $4 billion in 3 years, shouldn't the MND minister resigned?
We believe the numbers. So the $billion lost minister should go.
Are you the best they can assign?
Anon 9:04 am
Nobody assign me lah.
And I just only say and repeat the obvious hard truths to remind the daft Sinkies to do something. If can, good lah, if cannot, neber mind lah.
Why need to assign a cadre to say the obvious, tio bo? Unlike Anon 9.04 am , PAP not daft you know.
RB & bloggers here, can you all please don't always kpkb. Must think of solutions mah! The super-talents only paid peanuts must carry so heavy burden, can't you all do it for free on a voluntary basis to crack your brains, organise brain storm sessions after work 3 times a week to think of solutions to solve problems mah! The G said they on your side leh, so can't you also reciprocate back and be on their sides and help them out by thinking some solutions and not just kpkb. The super talents very "CHAM" leh! Collect just some peanuts every year for salary, bonuses and perks but need kanna so bz until now 10.30am also cannot go eat dim sum liao. Take half bottle tooth picks from restaurant without permission also kanna lambasted until backside almost peejia ...... Come on, don't you guys think our super talents very "CHAM" now, 10.30 am cannot go eat dim sum. Must work so hard meh for a few peanuts ( few million dollars ). Everyday, 10.30 am also see a lot of old people in the food courts and restaurants mah ...... why the old people there can, the super talents cannot? Also working mah! Super talent eating dim sum 10.30am also working mah, same same 75 years old ah Kongs and ah Ma cleaning tables and clearing rubbish at food courts and restaurants mah. Why you all so unfair to super talents? Ah Kong, ah ma 10.30am working in food courts nobody kpkb, limpeh super talents one time "working aka eating" in dim sum restaurant at 10.30 am all kpkb! Hoi! Can some ministry set up also super talents unfair framework to protect super talents from unfair kpkb bor?
...shouldn't the MND minister resigned?
Anon 9:23 am
Either they are voted out by majority Sinkies, or PM Lee decides.
Resign? Got meh? Which one?
@ 9.28 am : " Nobody assign me lah.
And I just only say and repeat the obvious hard truths to remind the daft Sinkies to do something. If can, good lah, if cannot, neber mind lah. "
Oh ok! so u also on sinkies side albeit a one trick pony? Neber mind. Still better than nothing.
Pls continue same line every morning repeating same reminder. All sinkies will kam sia u for that. :)))))
just hope potential swing voters are not scared off thinking some oppo are so daft and only can repeat same pony trick and nothing else.
@ 9.07 am
{ Maybe the PAP govt may need to raise the GST again to make up for the losses or deficits.
Or further delay the withdrawal of Sinkies CPF?
But will the opposition (cannot always count on WP lah, tio bo) become stronger as a result? }
Probably won't lah! Just kpkb in cyberspace and only bloggers only can have any use meh? Here 老大 say jump we can only ask how high? Tiok Bor? 老大's smallest hatchet is already bigger than construction site piling machinery. Got stand any chance meh? Better just kpkb here, like RB said, let go some extra farts in the stomach then go back to work lah. Kuai kuai every morning and evening be 1 hour human sardines squeeze mrt and buses, pay gst, pay erp and coe when take taxi, 老大say jump just ask how high and jump lor! Be walking zombies lor! what to do? Some bloggers here already said liao mah, bo bian! Increase GST what can you do? Delay CPF withdrawal or increase minimum sum what can do you do? Tiok Bor? KPKB nia mah! The G also know right. Complain, complain then they say jump, sinkies still ask how high right and jump ........ !
Paper losses - land acquired at dirt cheap prices many years ago were transferred to SLA, and subsequently sold to HDB at market prices.
Real losses - inefficient and bloated HDB staff with high salaries.
These are probable causes.
RB, instead of focusing on loss making hdb that get sinkies really worry about how to make up the 4 billion lost so far, they should focus on the positive that is how much profit SLA is making, Tio Bo?
RB, the ads in your blog getting interesting .......
just first click straight away lead to women in under garment ........
are you catering more to people like lry, ms and agk ........ ?
But to "buy" u kopi still go in click, click la ..... click here click there also dunno what I seeing ....... ???
after that blur blur exit lor ...... ﴾͡๏̯͡๏﴿
I must confess I have nothing to do with the ads. They were assigned by Blogger Adsense.
And thanks for the kopi. For those who are still wondering why people buying me kopi, they did not pay a single cent, only visit the advertisers. So would not hurt their pockets.
Thanks for your generosity. : )
HDB:
Emotically
¯\_(ツ)_/¯ BO BIAN
SLA:
$$$$$$$$$$$$$$ Emotically
／人 ◕ ‿‿ ◕ 人＼ Happy $$$
MOF: 天长地久
一生一世
$♥‿♥$ Emotically
$ $ $ in ♥. $$$$$...
$ $ $ 永不分离 。。。。。
PAP will always portray themselves as angel with helping hand when in fact the truth is they are the devil taking money and destroying life, giving nonsense and bullshit. The very fact that they try to conceal information, and giving half-truth already tell you that they know what they are doing in clear sober mind, and no regret doing it again and again. Legalized corruption is the worst corrupted form of government in the world, far worst than Chen Sui Bian and Ferdinand Marcos. Just check how much those stooges take the money compared to than our so-called angels. There just no comparison.
RB, you are giving all of us an opportunity to be very generous in buying you kopi without burning a hole in our pockets. Ok kopi kau for you, kopi C coming, kopi tarek and teh tarek, kopi kosong, kopi siew tai, whatever you want, all coming.
I have never felt so generous before and so happy to buy you kopi.
The losses HDB is making is similar the GST is to help the poor argument by one idiot
ANON 1.06PM: The losses HDB is making is similar the GST is to help the poor argument by one idiot
Problem is perhaps they hold the patented rights to consider some Sinkies daft bcos before erection just give some "chocolate bar", "lollipops", "candies" to heart landers aunties they very "shoik" liao so confirm at least 60% STRONG sappork to ensure can get erected and go inside strongly, have majority seeds, get erected liao can continue at least 5 more years on top of sinkies ...... all happy liao, happy fairytale ending every five years with much release of stress and pre-erection anxieties.
haha, papa's blue pill can last only for two weeks, good enough for general erection. After erection will go back to slumber and needs another pill for the next erection.
All stat boards are required to report their accounts in accordance with accounting standards. If they lose money-- even if it's a 'paper' loss-- it has to be reported.
Maybe it works to PAP's disadvantage but this is how the chips fall.
We will know how many people still taken in by the ruling party bullshits during the 2016 GE. Hope majority of the people have become wiser and not as daft as before.
Anyway, just like any deficits or profits, the devil is in the details.
Boss flame proof, so they also insult proof and sack proof.
Our HDB flats belong to HDB.
We are just tenants living in the flats.
We pay our rent 99 years in advance.
So how can HDB lose money "selling" HDB flats.
HDB is selling us a lease.
In the same way we lease or rent a car.
The purpose of declaring such huge deficits is the justify the bankrupt-ness of our reserves. The message is like this "Look, don't question why we have to delay your CPF withdrawal. We have used all the money to subsidize your HDB flats. Also not because we have lost tons of money on failed investments ok"
The loss came about because HDB had to purchase land from SLA. Now HDB & SLA are both Govt agencies.
Now tell me if you purchase something from your spouse and make some losses while your spouse made obscene profits from it, what is the nett gain for husband & wife?
Who is still trying to bluff us .... a bunch of hypocrite politicians?
You are reading too much into this. Almost every govt agency has their own financial statements which are released every year. This is for the sake of transparency. Why not check SLA's to see the amount of surplus that was recorded to get a better idea?
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