BREAKING: Sim LIan EXPOSED?????

[ahleebabasingaporethief]

FOUND THIS...if true WTF?


<table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td class="wintiny" align="right" nowrap="nowrap">53365.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_1">Sim Lian stands to make obscene profits from sale of Tampines DBSS flats

June 30th, 2011 |

Author: Temasek Review |

Edit

Private developer Sim Lian group stands to make ‘obscene’ profits from the sale of its Tampines DBSS flats at Centrale 8 even after giving buyers a ‘discount’ of $100,000.
The executive director of Sim Lian Group is Ms Diana Kuik, the wife of PAP losing candidate in Aljunied GRC Ong Ye Kung.
According to a report by Business Times today, Sim Lian will be reaping a shocking 75.8 percent gross profit margin from its sales of Centrale 8:
“But in some cases, DBSS margins were even higher. Sim Lian Group, for example, stands to make a gross profit margin of around 76 per cent from its recently launched Centrale 8 in Tampines – even after it announced prices that were lower than previously indicated.”
The margin is twice higher than its previous DBSS project Parc@Lumiere at Simei 2009 which has a gross profit margin of ‘only’ 34.8 percent.
[Source: Business Times]
Centrale 8 has the highest gross profit margin among the 8 DBSS projects launched so far with the ‘lowest’ being the 19.1 percent earned by Qingdao Construction with its DBSS project in Bishan.
DBSS projects are built by developers which are allowed to price them at above market rates because they come with ‘premium’ features, but they are still subjected to HDB regulations.
Under former PAP Housing Minister Mah Bow Tan’s tenure, HDB has deviated from its original goal of building affordable public housing for Singaporeans to being a cash-cow of the PAP regime.
The land used for building HDB flats which was obtained literally free by the PAP in the 1960s and 1970s under the draconian Land Acquisition Act is ’sold’ to HDB at market rates with the profits from the land sales going to Singapore Land Authority, a statutory board under the PAP regime.
At the end of the day, it’s the PAP regime, banks and private developers like Sim Lian which are profiteering from building public housing in Singapore while ordinary Singaporeans have to slog daily like a dog to pay their hefty monthly mortgages.

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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">pJUDGE2009 <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">4:37 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">kojakbt_89_ <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (2 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.2 in reply to 53365.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_2">I totally agree with your sentiment.
The best thing those prdinary citizens can to do is simply remain ordinary and don't buy any of these aprtments. You don't buy, you don't have mortgage problems. Just buy a 3-room HDB flat and live there. If you have more money, get a 4-room or, for those earning $7000, a 5-room. Simple as that.
If everybody stay away from this Sim Lian development, Sim Lian will go bankrupt.
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">3_M <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">4:57 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">pJUDGE2009 <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (3 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.3 in reply to 53365.2 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_3">ALL property developers are like Sim Lian. Even HDB are also the same.
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">Heart Break Kid (HBK75) <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">5:17 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">kojakbt_89_ <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (4 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.4 in reply to 53365.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_4">The executive director of Sim Lian Group is Ms Diana Kuik, the wife of PAP losing candidate in Aljunied GRC Ong Ye Kung.</td></tr> <tr><td>
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">headgansta <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">5:24 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">kojakbt_89_ <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (5 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.5 in reply to 53365.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_5">Another CRONY business....
Singapore is the well run well oiled country.
No outsider can understand the business climate if they are not part of the PAP...
A Public Housing Project and the Developer makes such obscene profits.
shame on the PAP. SHAME! SHAME! SHAME!
I am waiting for 2016
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">headgansta <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">5:26 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">pJUDGE2009 <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (6 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.6 in reply to 53365.2 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_6">Buy the smallest flat possible...and emigrate at the slightest opportunity...Leave this God forsaken place to PAP and their Banglas, Indians, PRC. Pinoys, Viets, East Europeans Trash..</td></tr> <tr><td>
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">Emeritus Foreign Thrashes = 1st class (BabaEro11) <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">5:35 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">kojakbt_89_ <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (7 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.7 in reply to 53365.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_7">wow !
3in1kopitiam and TRE have good investigative pple.
More worms coming out of the PAP aka Scums In Whites' closets.
Can anyone investigate what links those Cleaning Contractors have to secure all the HDB Cleaning contracts ?


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</td><td class="wintiny" align="right" nowrap="nowrap">53365.8 in reply to 53365.2 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_8">you stupid or what??.. hdb has set incum ceiling for smaller flats.. so you are not allowed to buy smaller flat if you have high incum.. the familee and pee-a-pee running dogs are screwing you sinkaporeans in subtle ways.. ho ho..
pee-a-pee must die or sinkapore sure die.
PAP go eat shit.
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">AhBengSong <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">6:51 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">pJUDGE2009 <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (9 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.9 in reply to 53365.2 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_9">[FONT=tahoma,arial,helvetica,sans-serif]No pity for those who take heavy mortgage to buy these flats... sim lian is just profiteering from the gullible buyers.. so the blame is not on sim lian alone...
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</td><td> <table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"> <td class="msgF" align="right" nowrap="nowrap" width="1%">From: </td><td class="msgFname" nowrap="nowrap" width="68%">papadom1 <nobr></nobr> </td><td class="msgDate" align="right" nowrap="nowrap" width="30%">10:49 am </td></tr> <tr class="msghead"><td class="msgT" align="right" nowrap="nowrap" height="20" width="1%">To: </td><td class="msgTname" nowrap="nowrap" width="68%">kojakbt_89_ <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (11 of 11) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%">
</td><td class="wintiny" align="right" nowrap="nowrap">53365.11 in reply to 53365.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt" id="msgtxt_11">Extremely ridiculous to sell state land at cheap prices to help Sim lian make money!</td></tr> <tr><td>
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[annexa]

Please, why scold and scold? Here we have actual data just how much the REAL cost of building HDB is. Just take away the profit. Then we can know how much profit HDB is really making after their suppose "discounts" sorry sorry "subsidy" to sinkies. Who here maths good?

 

[eErotica69]

Actually more info is need before we can conclude whether Sim Lian we scream about the 76%
profit market.

1. When they did bid for the land?

Point is, they have bought land when the market was low, and now selling when the market is high! So 76% also factor into consideration they risk the took.

Put it simply, if they bought a land earlier and they did NOTHING to the land, and sell it now for 60% profit, then 76% profit means not a lot in relative terms!!

Well, I am just looking at it from the economic point of view, i.e. Market Timing!!

 

[RamNew]

how much did Sim Lian made at Centrale 8 ?

 

[Bigfuck]

The scary reality in Singapore. With first world GDP per capita, building costs per capita are the lowest in the world, while land prices and margins per unit are the highest in the world. In addition, the sales prices on the same size and category are the highest in the world. Problem is the quality is only low to mid developing world standards for the price. Our buildings fail international ratings to withstand earthquakes at all. But we are paying prices for buildings in 1st world countries that can withstand earthquakes up to 7 and perhaps higher for the price (above 7 is iffy in actuality). For the prices we pay here, we can get superb finishing in first world countries and even Bangkok. For a unit of housing you buy in Singapore, less than 15 percent goes to the building materials and real construction costs. Most of it goes to hot air talk and joke certification and inspection that are fail standard in the 1st world. It is so obvious that it is necessary to have gag orders or tricky lawyer letters to prevent this fact from leaking out. Any real world class architect and engineer does not want to be associated with the real standards of building in Singapore. No self-respecting expert wants to be called and proven to a swindler.

 

[Prometheus888]

why is sim lian sooooo special to the pap??????

 

[laksaboy]

Check out who're the directors on the board for Sim Lian Group.

It's nothing more than a family business of the Kuik family.

http://investing.businessweek.com/research/stocks/people/board.asp?ticker=SLG:SP

http://www.reuters.com/finance/stocks/companyOfficers?symbol=SIML.SI

Diana Kuik is Ong Ye Kung's wife.

Ms. Kuik Sin Leng is Executive Director of Sim Lian Group Ltd. Ms. Kuik manages the administrative, marketing and finance operations of the Group’s Property Development Division. She also directs the Group’s corporate communication and investor relations functions. Prior to joining the Group in 1995, she held the posts of Product Manager and Risk Manager at Citibank, NA. Ms. Kuik holds a Bachelor of Arts degree from the University of Michigan, Ann Arbor, USA.

http://www.sammyboy.com/showthread....80K-exec-dir-Diana-Kuik-is-Ong-Ye-Kung-s-wife

 

[Bigfuck]

Basically asset rich cash poor in Singapore really means we taxed you to the limit but you have a documentary acknowledgement. That is why property is meant to do to Singaporeans. Your actually spending power is no different from your Malaysian neighbours and even lower, unless you go there to spend, where you would only be at best on par.

 

[RamNew]

URA to stop developers from profitting off supersized luxury ECs: Khaw

By rachel chang

National Development Minister Khaw Boon Wan said Monday that he has directed the Urban Redevelopment Agency (URA) to tighten the rules on the developers of executive condominium (EC) projects to prevent them from launching luxury, super-sized units.

These million-dollar ECs, like a 4,349 sq ft "presidential suite" at the recent CityLife @ Tampines development that cost over $2 million, have created understandable public indignation, wrote Mr Khaw on his blog. This is because they are "deviations" from the EC scheme's original mission of providing housing for the sandwiched class - those over the income limit for an HDB flat, but who cannot afford private property.

Mr Khaw said that he was originally "baffled" that developers were "short-changing" themselves by launching such massive units, as they could have made more money by using the space for two or three normal-sized apartments.

After looking into the matter, he realised that developers were using a loophole in the rules to profit from the super-sized units. Currently, they do not have to pay development charges on outdoor roof terraces, as URA wants to encourage developers to build more communal outdoor space for residents to enjoy.