HDB suffers S$2b deficit

[Watcha]

Unbelievable. 200k 300k 400k flats and they lose money?

Are the cement here and FT workers here 10x more expensive than our neighboring country?

Heavily subsidized? Why prices are within sight of private?

[exxondus]

I never knw nor could understand how these figures are derived de

if they suffer losses at such high prices. Wonder hw much the buyers are suffering by having to pay loans for 20-30 years of their lives with compounded interest.

Wonder did they include the loans that people have not fin paying in their losses as its still considered outflow in a strict sense. If got, then really not accurate since such loans are considered long term credits

[Nooch]

Its utter rubbish, e land is theirs, also they let e lowest bidders do e housing, using Bangalas etc, how to make loss??

[eng81157]

it's definitely another show of creative accounting and a PR campaign to show how HDB cares for the public, after getting lambasted in the press for sky-high flat prices.

unless HDB is subsidizing the cost of construction of these flats, it won't be possible to incur such a huge loss. how can the deficit be possibly $2bn ($1.1bn for new flats subsidies + $0.9bn for upgrading)? my hunch is that they probably factored in the cost of the land into construction and hence, when compared to market value, 'viola', HDB incurs a cost for every unit built.

HDB should really shoot the PR manager who came up with such a moronic PR campaign. Conversely, if HDB truly incurred such a huge deficit, why did they report revenue in the range of $5bn? The two scenarios simply do not gel.

It could also be a case of defusing attention to the $3bn profit raked in, by highlighting only the deficit in press but give a one,two-liner on its revenue.

[exxondus]

huh they made revenue of 5bn?

then meaning in total they spent 7bn thats why have 2 bn deficit?

do they count the bonus they give the top people anot? maybe that amounted to 2bn ..just jking..later i tio sue..

[feudallordcult]

so this yrend only 13th month bonus, arh?

[Paneraii]

kai Wan Siao !

[louisoh]

Unless they can give a proper breakdown of what they meant, otherwise.. its juz another piece of BS crap news from our wonderfully controlled media...

[Frogmen]

HDB suffers S$2b deficit ? Smell something very fishy with their accounting department. Might have to call in CPIB to investigate.

[LSL]

whole life make $ kept quiet 1 year lose $ KPKB !
anyway public housing is suppose to be like public transport & public welfare it is given to citizens & heavily subsidised by gov, it is like this all over the world only in spore they all must make $$$$$$ !

[wolfeyes1974]

first time hear monopoly loses $$..somemore with garmen backing....garmen pple now all part time comedian?

[pet]

ppl see the word deficit... wow big lost... deficit and our normal co profit/lost not the same mah... hahahhaa

maybe like tht... gov gv hdb 3b ... they sell 6b... profit 3b...
but of the 6b sales, ppl take 5b loan from hdb....
so hdb deficit 5b - 3b = 2b... hahahhaa

[Fred_Tan]

Biggest pile of **** I have heard from them

Unbelievable. 200k 300k 400k flats and they lose money?

Are the cement here and FT workers here 10x more expensive than our neighboring country?

Heavily subsidized? Why prices are within sight of private?

It's all zero sum of all equation....

[Watcha]

....garmen pple now all part time comedian?

[seiko.citizen]

we wonders how the other property developers are faring? they must be on the brink of bankruptcy if HDB can post a 2bn loss.