You believe HDB suffers a deficit of $2 billion ?

[AvalanCh3]

they forever say they never earn whats new?

 

[Jabba]

it's a profit deficit is it?

 

[halsey02]

Wrong spelling lah. should be MABOK TAN.drunk from collecting millions of $ everyday from the citizens.hope he blur from seeing so much money everyday he will happily kick the bucket !

Does he check his Central Provident Fund money also everyday, like that Limp Sway Sway?, and is amazes how much there is?

How can a monopolist, who has ax extremely low cost land bank at their disposal,low development cost etc...looses S$2 billion. This is, what we call CREATIVE accounting; come 'erection', they will announce due to cost cutting measures, blah blah blah...they make a profit of S$200 billion.

I forgot blame you, 'lesser mortals' out there, taking up loan you cannot afford...now we loose money..PAY UP!! PAy Pay.....pay now...

 

[oli9]

If HDB lost $2B, then who profitted? SLA? Someone must have profitted from this scam.
Next question, is this paper loss or real loss?
And lastly, if losses is due to material procurement, then the procurement director should be sacked!!!! U mean cant get cheap materials from 2rd world nation?

 

[Blazars]

Saw the news tis morning. Talk to a friend too. We both just cannot believe how the $2B deficit comes about. This is bullshit for hdb!! Seriously, we need 3rd party auditors.
!&!!

 

[streetsmart73]

the right hand say the left hand is bankrupt..

are you still going to deny it?

hi there


1. bro, bingo!
2. yes, getting it right in the first place, show facts and figures on the loss!
3. talk is cheap.
4. what! in other word, sinkies flat are "sold" below par or what; that is why it is at a loss!
5. well, probably, reducing the salary of the mil-dollar person sitting at the top could easily help it to cut cost mah!

 

[saratogas]

HDB once again show us their combination of bad plannings and poor marketing strategy.

Somebody needs to be accountable for this huge deficit.

 

[prinzy]

If HDB does not report loss of $2B, how can they justify the ever increasing prices to fleece you. I will only believe if they open their account books. Then we will be able to see if they lose $2B or make $200B.

 

[BBBBBB80]

Just like how singapore's budget is easily in deficit because they intentionally leave out items:

http://courses.nus.edu.sg/course/ecstabey/Tilak JAE3.pdf


Two major items are excluded from the budget. One is receipt from the sale of land and
other capital goods. The volatile nature of these receipts is the reason for not considering them as a regular revenue
component. The other item is the net investment income (NII)3 generated by investing government reserves. As a
constitutional requirement, only up to 50% of the NII can be included in current revenues and the rest has to be
protected as past reserves.

So similarly it's easy for HDB to do all kinds of accounting tricks to hide as well.

Housing prices increased by 100% in 2 years.

HDB making record losses on that?

If Singaporeans believe it, they can believe ANYTHING!

And it gets worse...

Once all the capital receipts go into the reserves, they can be transferred out to GLCs...i.e. Temasek, GIC , as our constitution was amended to allow this hurriedly and without any parliamentary discussion recently.

And everyone knows how Temasek, GIC are doing.

So without any transparency and information disclosure, who knows what is REALLY GOING ON?

 

[SIFU]

HDB accounting style is the "mun ka li" type..

they can sell their Duxton 4 room flat at 650k because neighbouring hdb sold for this amount.. but they only sell u 500k..

so they account it as for every 4 room flat sold, they lose 150k.. hence the 2billion deficit..

 

[Lord Imperious]

I think one must look at their total operating cost divided by number of flats they build. Suspect that have a bloated staff.

Don't forget removal of non-existence land cost.

 

[Lord Imperious]

HDB accounting style is the "mun ka li" type..

they can sell their Duxton 4 room flat at 650k because neighbouring hdb sold for this amount.. but they only sell u 500k..

so they account it as for every 4 room flat sold, they lose 150k.. hence the 2billion deficit..

Yup that sounds just like them. Good one!

 

[Echo_O]

Yeah that sounds right, my guess is HDB pays SLA "market rate" for land and claims a loss on "subsidised flats sold". Thus the money is hidden in SLA coffers whose books not many are interested in.
SLA are also the same people who pay you $1 to take away your land to build MRT LRT and roads.

 

[Meteor77]

Of course I believe!!

My neighbourhood chicken rice store also suffered a one milllion dollar loss last year!

They offer highly subsidized chicken rice at $4/- a plate with everything thrown in when the market rate in Chatterbox is $20. Selling a few hundred thousand plates leads to millions of dollars in losses for them!

Thank God for our neighbourhood chicken rice seller!!

Muahahah i like this assumption... so wicked

 

[mscitw]

The transport cartel sprouts the same lies, saying without price hikes, losses will be inevitable?!!

However withness the super normal profits of 100 million after various fare hikes!

Stupid peasants deserve have their arses poked for one century!

 

[Tiu Kwang Yew]

2 billion deficit means future HDB 3 room flat can go up to 500K.

And so the resale flats can go up 300% ....

i think tis is the message from HDB.

jialat liao ! PAP supporters grandchildren can eat grass and sleep on the streets while PAP asholes here still finding assholes to fuck !

veri thank you 66%, you make the day for young generation !

 

[Tiu-leh-see-fart]

Just look at countries around us, singapore public houses are selling based on security which means buyers or leaseholders living in fear. So they pay big for security and not for the house !

So the high HDB price tag is becos of security ?

Big loss for HDB?

No , this is cause and effect !

Fake price will have a bad effect !

if the loss is true, then the HDB policy has failed big time !

40 billion lost compared to 2 billion, which is significant?

No wonder overseas people say majority local sporns are stupid under PAP, yes indeed !

 

[jim007jimmyboy]

originally posted by marill
i am a curry puff seller.

I have incurred a $90 deficit per curry puff sold through my curry puff ownershiop programme.

I sell my curry puff for $100 each, but through my curry puff ownership programme, i subsidize $90 per curry puff, so that my customers only need to pay $10 per curry puff.

My cost of making 1 curry puff is only $0.25 so in fact i actually profitted $9.75 per curry puff sold.

But still!!! I have a defeciet of $90 per curry puff because of my curry puff ownership programme that i provide to my customers.

:d:d:d:d

 

[Watchman]

 

[scoobyhoo]

Any massive pay-cut? retrench? resignation of senior management?

This afternoon, I was at one of the HDB office. The staffs there still joking and sharing their photos!