Ridout Road Properties: A Question Of Accountability and Transparency
kuanyewism.com
Ministers Shanmugam and Vivian Balakrishnan has been in the news lately for their tenancy at at 26 Ridout Road and 31 Ridout Road. In multiple journal pieces and articles, Reform Party’s Kenneth Jeyaretnam (KJ) and The Online Citizen posed a number of important questions regarding this. Here is a summary of all the arguments.
1) The Ministers Should Not Be Able To Afford The Rent On Ministerial Salary Alone
KJ acknowledges that he knew of a colonial mansion rented out for $30,000 a month,
“but that was several years ago and market rents will have increased considerably since then”. He also says that his conservative estimate of the cost of the house at $1100 psf show that the house would be worth at least $55 million. At this price, a 3% rental yield would cost $1.65m a year.
Accordingly,
he questions whether the ministers are paying market rental reached in an open bidding process.
Source:
Facebook
2) Someone Else Could Be Paying For Them, Possibly A Criminal Breach Of Trust
If this is the case, KJ is asking for the ministers to be
accountable to be Singaporeans.
3) The Bungalows Were Not Empty. Someone Else Was Forced By SLA To Make Way For Shanmugam, The Boss Of SLA
KJ shared that he spoke to sources in the neighborhood who told him that 26 Ridout Road was not actually empty. It had apparently been inhabited by an expat hedge fund manager
“who was then squeezed out by unreasonable terms imposed by SLA, which as we know is headed by Shanmugam”.
Source:
Facebook
4) A Significant Number Of Trees Were Cut Down After Ministers Moved In, They May Have Abused Their Power To Do So
The Online Citizen shared in an
article that satellite images show that their move led to a lot of trees being cut down.
TOC shared that the trees are likely to be mature as these are colonial bungalows. Ironically, there is a Heritage Tree Scheme officially launched in 2002 by Vivian Balakrishnan, then Minister of State for National Development, which protects “heritage trees” from being felled with a girth exceeding 1m without prior approval.
5) Tenants Are Supposed To Pay For Their Own Renovation, But Did SLA Pay For Shanmugam’s Renovation?
TOC noted that SLA may have
built a carpark just for Shanmugam. However, SLA’s tenancy agreement clearly states that any renovation should be at the tenant’s own cost.
6) There Is Conflict Of Interest As The Ministers Are Essentially SLA’s Bosses.
The ministers are essentially SLA’s bosses, there is a
conflict of interest. Hence, in an
open letter, KJ asked for a independent committee of inquiry to look at the issue. This is especially since SLA’s
statement is insufficient to answer all the questions so far.
Source:
Facebook
The Ridout Rd Issue Has Also Highlighted To Us The Inefficient Use Of Land in Singapore
The fact that these huge pieces of land are untenanted shows how our land is inefficiently managed. KJ pointed out that there is a
“severe housing shortage in Singapore”.
Updates (23 May)
On Tuesday (23 May), Prime Minister Lee Hsien Loong
announced that Senior Minister and Coordinating Minister for National Security, Teo Chee Hean, is to conduct an independent review regarding two residential properties. Mr Shanmugam, the Home Affairs and Law Minister, and Dr Balakrishnan, the Foreign Affairs Minister, had requested a review that is independent of the ministries and agencies they supervise.
In an interview with the media, Shanmugam called the matter
“outrageous” and said that he had
“nothing to hide”. Vivian Balakrishnan also responded by saying that he is
“very glad that Prime Minister Lee agreed to have this review and to publish all relevant facts and findings before we have a full debate in Parliament”.
[Edited with inputs from Kenneth Jeyaretnam]
https://kuanyewism.com/2023/05/ridout-road-properties-a-question-of-accountability-and-transparency/