Can somebody sexplain? HDB has huge huge deficit but overall Singapore has surplus ? What does that mean

[JurongEast]

HDB reports record $6.775b deficit amid ramp-up of BTO flats, high construction costs​

 

[shittypore]

Their accounting will show a deficit till Kingdom comes. No point asking for transparency or talking about it.

 

[laksaboy]

Still pushing the narrative that the HDB is an altruistic, non-profit organization with the mission of enabling Sinkies to affordably 'own' their homes.

 

[JurongEast]

Even though HDB is deficit, but overall Singaporeans are overall taxed and have been ripped off
Otherwise, where are these surpluses come from ? From money laundering is it

 

[bobby]

If this ex paper general HDB CEO Tan Meng Dui is in a real world, he would have been sacked long time ago….

 

[shittypore]

Even though HDB is deficit, but overall Singaporeans are overall taxed and have been ripped off
Otherwise, where are these surpluses come from ? From money laundering is it

No, it comes from the The Familee's Trust funds.

 

[ftan42]

sinkie is one of the highly debt country

 

[Hypocrite-The]

Left hand take from right hand ...so right hand have deficit

 

[Loofydralb]

In common parlance, it's called a

SCAM!

 

[syed putra]

Deficit due to purchase of lease from gomen.

 

[bobby]

Gahmen acquire land at peanut price but sell back to you at macadamia price without title deeds but yet somehow still can lose $b…the entire board should be sacked.

 

[batman1]

LPPL.

 

[myfoot123]

HDB is earning advance rental income for 99 years. What loss are they talking about?

 

[k1976]

Money cannot created out of existence from thin air, the gain by some party will need to be balance out by loss from some other party as well, so basic T account can be balance mah