HDB suffers S$2b deficit
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Originally posted by Sgforum King:
the stuff at ion so expensive u build all over SG want see homeless people ah?
u miss my pt.. I meant, if they calcuate land as per sold to private developers, then the HDB can caluate ION orchard prices, then forever, they are in the red, and hence able to squeeze more from the people la.
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I checked out comments from other forums.
Some people say it is just a "paper loss" since what HDB loses is covered by the profit gained by the government who sold the land.
Some people say HDB is not making losses due to their annual positive operating cash flows.
Perhaps some accountant can comment on this.
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Originally posted by charlize:
I checked out comments from other forums.
Some people say it is just a "paper loss" since what HDB loses is covered by the profit gained by the government who sold the land.
Some people say HDB is not making losses due to their annual positive operating cash flows.
Perhaps some accountant can comment on this.
As far as i am concern, some even said that they lost due investment with temasek, not surprise at all, as the town councils had did it at a lost, big brother HDB will lost more. The accountants would had to massage the figures to look like a lost without including the accrue profits in it balance sheet. -
Wow .2 billion no joke!
i think they will build mickey mouse HDB units
soon~~
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they prefer to build a better sophiscated HDB hub near orchard, Mr Mah hates Toa Payoh.
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Without HDB hub. toa payoh very quiet
no aircon bus interchange liao
maybe Mr Mah loves the duck rice there
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too many China and vietnam girls there, Mr. Mah likes caucasian type, just like his wife...he stand up only to his wife breast lover, just right....so orchard is much preferred
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Originally posted by angel7030:
too many China and vietnam girls there, Mr. Mah likes caucasian type, just like his wife...he stand up only to his wife breast lover, just right....so orchard is much preferred
There are alot of prostitutes like you here too now even come to sgforum -
Originally posted by xtreyier:Go on. Gloat over the loss given to citizens. Buy that flat and rent it out to foreigners at a premium while staying with parents or in a condo. Complain that the units are lousy, no good facing or low floor or whatever, and to build more. Don't have to feel any tinge of guilt.
It's only our next generation's accomodation that we are robbing today. Every block built today means a few hundred sqft of land is used up on our tiny small red dot, depriving the child you see in school today a home of his/her own tomorrow.
Go ahead, ask more subsidize. Build more flats, with more of our public funds used to beautify our homes in features and surroundings. Make the next generation pay thru their noses when it their time is due, or tell them to rent or those who less priveledge, the gardens are airy and cosy.
Enjoy the loss. Smile. Your complains had been heard. No authoritarian to put his foot today anymore. And tell it honestly why it was lost, no need to twist the truth, to your children, your kid brother, your kid relatives, and their friends in their naive and trusting eyes.
infamous statements from a looney xtreyier
- "Statistics is not Science" (When Statistics is part of Mathematics, and Mathematics is a form of Science)
- "The Thai Canal is a pipe dream" (When it is a REAL risk, and Singapore is very worried about it)
- "Hawkers buy cars for their sons and ipods for their daughters, so its only right for the govt to raise their rentals and take back the money that these hawkers leech off the people"
- "Keeping housing affordable means building more new flats" (who asked about building MORE, when the question is about artificially high prices)
- "Keeping housing affordable means asking for more subsidies" (when the gist of the problem is ARTIFICIALLY high prices, NOT asking for more subsidies)
What more can you expect from a looney toot like him?
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what lose ?
They started the business withoiut capital .
The cost of building is all we paid , talk cock .
Like on paper only .
U think PAP do money losing business ?
Imagine the revenue they generate from car park offense ?
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Originally posted by Poolman:
what lose ?
They started the business withoiut capital .
The cost of building is all we paid , talk cock .
Like on paper only .
U think PAP do money losing business ?
Imagine the revenue they generate from car park offense ?
Commit Parking offence, pay fines huh.
So, heart pain, pain lor.
Don't want to heart pain pain, then don't commit parking offence lor.
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I like the explanation of the deficit given by some forumers in this forum.
http://theonlinecitizen.com/2009/11/hdb-annual-report-deficit-has-doubled-%E2%80%93-really/#comments
Check out #56 and #89.
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URA and HDB, it's only the left pocket and right pocket.
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HDB suffers a deficit of 2 billion, that is true lah.... but the propaganda press forget to mention how much profit the government makes selling land to HDB....
It is like, the left hand suffers a deficit of $2b and even though the right hand makes a profit of $200 billion in the transaction.... they pretend that the right hand and the left hand do not belong to the same body!
One of the reasons why the cursed despot has a zombie wife....
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Originally posted by AndrewPKYap:
HDB suffers a deficit of 2 billion, that is true lah.... but the propaganda press forget to mention how much profit the government makes selling land to HDB....
It is like, the left hand suffers a deficit of $2b and even though the right hand makes a profit of $200 billion in the transaction.... they pretend that the right hand and the left hand do not belong to the same body!
One of the reasons why the cursed despot has a zombie wife....
Uncle, u dun understand accounting, deficit does not mean suffer, it just show you the expenditure deficit, HDB need not mention suffering from it. Future profit from sales of lands is not included. We have to make this clear before you too become a zombie like LKY's wife. -
HDB never suffer de..
Look at their mega hub..
So nice le
and the staffs all well fed de..
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Originally posted by noahnoah:
HDB never suffer de..
Look at their mega hub..
So nice le
and the staffs all well fed de..
They had enough $$$ to retrench their workers, open a new separate organization, and rehire those retrenched workers. -
How did the HDB be so capable to have made a brilliant loss of S$2 Billion - or is there more to it then meets the eye ?
In the an earlier thread in this Speaker's Corner - ‘Cost of building HDB flats – finally an answer ?’ (*1) - there was a chance report of a Public Listed Company declaring to the SGX its success in winning a HDB contract to build a HDB township, which allowed some estimates to be made as to the cost of a HDB unit.
SGX mainboard-listed BBR secures S$104.2m HDB contract
By Jonathan Peeris, Channel NewsAsia | Posted: 17 August 2009 1511 hrs
Singapore Exchange’s mainboard-listed BBR Holdings has secured a S$104.2-million contract from the Housing & Development Board (HDB) to build seven blocks of flats in Yishun Neighbourhood 4.
The work comprises 864 homes, a Child Care Centre, a roof garden, communal amenities and site works, as well as contingency works.
Since there will be 864 HDB flats, the average cost per flat, inclusive of communal amenities, site works and contingency works, is about $120,602 ($104.2 million divided by 864 flats).
With the latest HDB new 4-room flats at Punggol (Punggol Residences BTO) selling at an average price of $293,000 (price range of $264,000 to $322,000 divided by 2), does it mean that the HDB stands to make a profit of about $172,398 per flat, or a profit margin of about 143 per cent?
The project will be carried out in 10 phases and is expected to be completed by 2012.
With a near perfect monopoly in providing housing to almost 90 per cent of the Singapore population, and with each HDB flat sold at a profit margin of 143 per cent - can the HDB be making its first loss after over 40 years ?
There is something fishy in a Government that insist on every ministry being profit-oriented.
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u people really buying into this? govt making losses in hdb? lol wat a joke of the century.
HDB are the most economical way of earning money cos one hdb can have accomodate alot of people and doesnt require much design. why cost so much to build? Look at london and germany's castles and houses. they are so much classier. are they making losses?
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You believe them?
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Originally posted by mlmersrlosers:
u people really buying into this? govt making losses in hdb? lol wat a joke of the century.
HDB are the most economical way of earning money cos one hdb can have accomodate alot of people and doesnt require much design. why cost so much to build? Look at london and germany's castles and houses. they are so much classier. are they making losses?
the matter here is not whether we are buying into this or not??? the matter is, do we have a choice? -
so u all dun believe good good
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Already smelling a rat.HDB is going to do something about the prices of HDB flats.
Another round of prices increases coming soon.Probably the carpark charges.
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Originally posted by Tsh2005:
Already smelling a rat.HDB is going to do something about the prices of HDB flats.
Another round of prices increases coming soon.Probably the carpark charges.
i think not so fast they have to "act sympathy" for us singaporeans in this recession so that they can smoothly increase prices after erection day