Will HDB Go Bankrupt? $2 Billion Deficit? LOL :D

[AhMeng]

https://www.channelnewsasia.com/new...deficit-2018-2019-flat-sales-decline-12026966

 

[syed putra]

Nobody buying hdb's? Hongkies will be cringing.

 

[AhMeng]

Nobody buying hdb's?

It's called creative accounting.

 

[laksaboy]

Build, build, build a lot but not many are buying?

 

[zhihau]

Build, build, build a lot but not many are buying?

Let the flood gate open and we can all shout: Altogether now!!! HUAT AH!!!

 

[sweetiepie]

KNN do away with bto to become bts build to sell with key available even expensive and any number or location it will be sold out KNN

 

[Hypocrite-The]

Build, build, build a lot but not many are buying?

Build is ok, provided it's in a location the people wants. Build in slumggol n shitkang wat the point? N how can HDB be selling flats at a lost? N how much does pap pay for land? Left pocket right pocket

HDB reports S$2 billion deficit in latest financial year as fewer flats sold
A view of HDB blocks and condominiums in Singapore on Jun 27, 2019. (File photo: Reuters/Kevin Lam)
23 Oct 2019 02:00PM
(Updated: 23 Oct 2019 04:09PM)
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SINGAPORE: The Housing Development Board (HDB) saw its annual deficit rise to nearly S$2 billion in the 2018/19 financial year from S$1.7 billion the previous year, with the number of new flats sold falling significantly.
According to its annual report released on Wednesday (Oct 23), HDB recorded a deficit of S$2.4 billion from its housing programmes, which was offset by a S$462 million surplus from “other activities” – which include rental and other commercial businesses – resulting in a S$1.99 billion deficit.
READ: Commentary: A look at HDB flat affordability after recent housing policy moves
The Housing Board incurs a deficit every year, which is fully covered by a grant from the Ministry of Finance.
The bulk of the deficit comes from its home ownership segment, which covers the development and sale of public housing flats.
The segment saw a S$1.4 billion deficit in the latest financial year, same as the previous year. This comprises loss on the sale of flats, disbursement of CPF housing grants and expected loss for flats that are currently under development.
A total of 16,608 new flats were sold in FY2018/19, a 38 per cent decline from the 26,857 sold the previous year.
HDB also disbursed S$532 million of CPF housing grants to eligible buyers of resale flats and executive condominiums, up from S$466 million the year before.
READ: More buyers to consider buying resale flats with new HDB grants
A total of 15,300 new flats across 18 projects were launched in FY2018/19, including 1,620 flats in the new Tengah town. About 6,400 flats were also offered for sale in the two Sale of Balance Flats exercises and 1,300 flats under two Re-Offer of Balance Flats exercises.

 

[batman1]

Solution : Despatch one paper general to HDB.

 

[krafty]

will hdb pricing go up or down? pls advise.

 

[garlic]

This shows the incompetence of the PAP... monopoly also can lose money.. then again.. there is SPH and NOL..

 

[halsey02]

will hdb pricing go up or down? pls advise.

Depends on which angle the mirror is being placed.

 

[myfoot123]

HDB bankrupt? Where are the accounting breakdown numbers. Cost vs Sales. The chance of Cee Pee F bankrupt is more real than HDB bankrupt. Sinkies need to be very worried of the hands that rock our CPF cradles. Nobody knows whether your "BABY" is still there.

 

[Froggy]

Fewer flats sold? So we should see price falling to encourage buying no?

 

[shittypore]

Ah Soh Ho the first to say, every Sinkies must own a HDB.

 

[myfoot123]

I will never trust the garment. They took the money from left pocket and put in the right pocket and now tell the world the left pocket is bankrupt. That is what it is.

 

[congo9]

Indian accounting in Singapore yearly

 

[AhMeng]

Indian accounting in Singapore yearly

Who ie head of MAS? An Indian?

 

[aerobwala]

No breakdown of the loss ?

And wow.... big daddy MOF cover her lost by grants every year... macam like playing monopoly game.

 

[laksaboy]

I will never trust the garment. They took the money from left pocket and put in the right pocket and now tell the world the left pocket is bankrupt. That is what it is.

All governments (kings) take away your wealth like a flood, a fire or a robber. Governments do not create wealth, they are parasitic by nature. The bigger the government, the greater the inefficiency and wastage of resources. Therefore government must be limited, and proper separation of power must exist to prevent the 'ownself check ownself' nonsense.

 

[eatshitndie]

Ah Soh Ho the first to say, every Sinkies must own a HDB.

once empress has uttered her wisdom, edict will be written to allow every richie rich in sg to buy into hdb. no more incum ceiling. huat ah!