Govt loses "hundreds of millions" of dollars building public flats: Khaw

[myfoot123]

Talk is cheap. Open the books and get a full audit done.

They already TOOK SO LONG to review AIM's saga, they are unlikely to create more shame thru HDB's books. The internal audit has already identified many double-payments in certain stat boards. No head was rolled. If Khaw can said Bromptom gate is affordable, he can said anything he wants hoping nobody will find out. I still couldn't get over his statements that poor elderly should seek medical attentions in cheap neighbouring countries.

 

[PUNISHER]

Knnbccb !! This kind of lie also dare to say !! He really think all Singaporean stupid is it ? pua cheeby !! Read Liao sibey tulan ! Kaninabu !! can someone send this fucker a letter and ask that bastard to prove his lanjiao claims !!

 

[winnipegjets]

Mr Khaw said: "You need to acquire a piece of land; you need to reclaim a piece of land. All those costs money to tax payers and we are just trustees of tax payers and those costs are to be accounted for. And even when you have got that land prepared, land is only valuable when we invest in infrastructure, roads, MRT... And all those costs billions of dollars. So to say that land cost is a pittance and therefore should be excluded from total construction costs… I myself think it is not quite an appropriate argument.”

And the tax payers are asking the government to stop charging outrageous amount for the land that is acquired at below market price. The infrastructure are being paid for by users of those infrastructures as well ...so, that's not a valid point.
Why not conduct a referendum on this - Should the HDB reduce the price of flats by excluding the cost of land?

He also revealed that the Housing and Development Board, which is the developer for public housing, is losing money for every flat it sells.
He said: “Every year, hundreds of millions of dollars of losses were incurred by the HDB and that's why MOF has to give the HDB an annual grant, otherwise the HDB will be in the red. It cannot be forever in the red, because there's no way it can make money. Because every unit that we sell, we lose money, HDB loses money. The accounting for the HDB is deficit accounting. So if you incur a S$300-million loss, there is a grant of S$300 million that covers it. That is how we operate the HDB. “Let us not perpetuate this talk about HDB is making money out of building houses because if it was so simple, life would be straightforward, but that's not the case.”The HDB pays market rate for its land and construction costs. When it prices flats below market rate, it incurs a housing deficit.

Make public the HDB books for the public to examine. This is all baloney. The 'loss' are artificial. Lots of fancy accounting at play here.

Mr Khaw also said he is confident that he can bring down the price of new flats in non-mature estates to four times the annual median salary of a buyer - down 30 per cent from the current 5.5 times. He is wary of some "transitional problems".

Why is he continuing to lie about the price of HDB flats? Can anyone buy a 4-bedroom flat at $113k (5.5 median take-home salary)? Nope.

 

[myfoot123]

LHL admitted that he needs to fix statistic to look good on his policies. If PAP can fixed anything, nothing is impossible. Tharman once said, no transparency is needed, you just need to trust this govt. Unbelievable! they held citizens' CPF money because they said Singaporeans cannot be trusted to manage our fund, but we must trust PAP to manage ours. Absurd!

 

[palden]

HDB lose millions? Can we replace someone cheaper and more capable?

 

[scroobal]

Fully agree. They keep saying they are losing money / subsiding flats for the last 30 years and yet people are paying an arm and leg for these flats. They have never ever provided a costing which a quantity surveyor after 3 years on the job and valuer would be able to do at the drop of a hat. This is despite SIngaporeans crying and Chiam making this his primary agenda in parliament for years.

Ask this fucking Hokkein Mudlander piece of shit to show the full costings of building HDB flat. From land cost, labour cost etc. total breakdown, than show how much they sell it to the people. Sue that fucker for slander and hang him for treason.

That is why I know fucking dulan hokkeins and mudlanders,,,fucking dua pian. And I hope the law is changed that only real singaporeans are allowed to be civil serpents and MPs. All Naturalised Singkies must serve NS to serve the people, if not FUCK OFF

 

[myfoot123]

people are paying an arm and leg for these flats.

It is rented flat on state land. Ownership of the flat is not even transferred to the buyer before the 30-years rent (with interest) are paid up. If you owe HDB money, you will be forced to find your own shelter. HDB is the richest developer in Singapore and they still owned 80% of every household in Singapore. Where does the lost come from, I wonder.

 

[chupacabra]

Title deeds to the flat are not even given after all is paid up for the pigeonhole..it takes years to get it after finishing paying your arm and leg to HDB.

 

[blackmondy]

If HDB loses money then why is this fucker still paid millions and bonuses as well ?

 

[Dreamer1]

Singapore nation lost hundreds of millions of Singapore taxpayers money
paying overpaid pap ministers.

Khaw 会磕头烧香、烧纸拜佛、拜偶像,Minister Khaw is simply a fucker,idiot and talks cock everyday beside 磕头烧香、烧纸拜佛、拜偶像.
Namo Amituofo - Pure Land (1 Mala - 108 Repetitions) - YouTube
http://www.youtube.com/watch?v=7Ts8UYG8b8g

 

[myfoot123]

Singapore property already reached the bursting point and all money has gone to HDB. What is Khaw's agenda? After trying hard to cool the property price, he is now playing a reverse psychology on consumer so that buyer will quickly go grap property before price rise again?

 

[The_Hypocrite]

I heard hdb 3 ROOM at 1 time was 50K,,,,so 113k in today's term is possible. + also 1 good thing in Singapore is the interest rate is low compared to Oz and other countries is SEA. SO a 113K + 10% variance can tong lah,,but for the lowest paid need to increase pay to a more sustainable level and PAP must end its rent seeking behaviour...as this is what is making life in singapore from bad to worse,,all the FTs flooding in, Ah tiongs buying property, MRT going up etc is all due to PAP rent seeking behaviour..

And the tax payers are asking the government to stop charging outrageous amount for the land that is acquired at below market price. The infrastructure are being paid for by users of those infrastructures as well ...so, that's not a valid point.
Why not conduct a referendum on this - Should the HDB reduce the price of flats by excluding the cost of land?



Make public the HDB books for the public to examine. This is all baloney. The 'loss' are artificial. Lots of fancy accounting at play here.



Why is he continuing to lie about the price of HDB flats? Can anyone buy a 4-bedroom flat at $113k (5.5 median take-home salary)? Nope.

 

[winnipegjets]

I heard hdb 3 ROOM at 1 time was 50K,,,,so 113k in today's term is possible. + also 1 good thing in Singapore is the interest rate is low compared to Oz and other countries is SEA. SO a 113K + 10% variance can tong lah,,but for the lowest paid need to increase pay to a more sustainable level and PAP must end its rent seeking behaviour...as this is what is making life in singapore from bad to worse,,all the FTs flooding in, Ah tiongs buying property, MRT going up etc is all due to PAP rent seeking behaviour..

Khaw claims that an average HDB flat, ie 4-br, is 113k now and plans to bring it down to $81.6k (4X annual median salary). How many people have bought 4-br flat at $113k now? If they don't sell it at $113k now, how are they going to be able to sell at $81.6k?

 

[rambo22]

THE BEST JOKE OF THE YEAR

THE MAN OF THE YEAR 2013 AWARD GOES TO KBW

sure will be the NEXT PRESIDENT OF SG

 

[Cerebral]

HDB is just a front to lose money and siphon the money through land sales straight into Reserve.

And I don't understand his logic when he claims in the same article that HDB is losing millions a year and yet he is confident that he can bring the price of HDB down to 4 x annual salary....

 

[blissquek]

HDB is just a front to lose money and siphon the money through land sales straight into Reserve.

And I don't understand his logic when he claims in the same article that HDB is losing millions a year and yet he is confident that he can bring the price of HDB down to 4 x annual salary....

Honestly..i am worried..if there is any reason to migrate..this is one of them.... an unclean book..

They never openly tell us what is the transfer pricing for the land they build the HDB on..?

If they claim HDB have been losing money building all the 900,000 flats to date, the amount of money lost must be
colossal... Nor wonder our former president Ong teng Cheong could not open the books.

 

[winners]

Nothing surprising. In fact, it's left hand (HDB) gives to right hand (SLA), right hand gives to Pinky, and finally Pinky gives to his Queen to gamble away on those failed overseas investments.

 

[Lordshiva]

closing the stable dioors after the fucking horses have all run away.....


*clap*clap*clap*


well done Khaw....you are a real class act for a fucker who has been paid at least 10 mil for the time you served as a fucking minister in the government....

fucking useless twat who only can state the obvious,,,, and no fucking apology from anyone again right? so what? Let's move on again?????


NBCCB!!!

 

[zhihau]

why does HDB need to pay SLA for the land when it belongs to the State?

 

[Poomer]

why does HDB need to pay SLA for the land when it belongs to the State?

SLA = Singapore Land Authority, which is a stat board. Maybe state paiseh take, so ask SLA take for them, coz in the end, it all ends up with the state, and the HDB just quietly pass of all the costs over to the end consumers, the Singaporeans.