New HDB flat prices based on market prices of resale flats
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The government's main account is never consolidated or disclosed. Even if consolidated, by whom is it verified by.Originally posted by Seant7:It simply a matter of transferring money from the left pocket to the right pocket. Left pocket is incurring a deficit but right pocket is making the mother of all profit. But ultimately those are still my money.
We look at the government who are doing the transaction with us and not how they transfer the money between different government departments.
For as long as we sees fail to see outside the scope of HDB account, we will never get the bigger pictures.
Thus, ordinary Singaporean citizens will never know or understand the ultimate behind these inter-departmental movement of funds.
We don't even have a strong opposition to check on the application of funds. -
M13,Originally posted by maurizio13:Does SIA have control over CapitaLand? Does SIA own more than 50% of the voting shares? Whereas, HDB is 100% owned by the government.
all the above companies are GLCs and their major shareholder is the government. If you consider HDB and government as the same, SIA, Capitaland, Singtel should all be the same isnt it?
What about Singapore Power, they are 100% government, hence should Temasek MOE, MOM offices get free power supply because they are the same? -
So who is the ultimate holding company?Originally posted by Gazelle:M13,
all the above companies are GLCs and their major shareholder is the government. If you consider HDB and government as the same, SIA, Capitaland, Singtel should all be the same isnt it?
What about Singapore Power, they are 100% government, hence should Temasek MOE, MOM offices get free power supply because they are the same?
The government.
So does the government produce a consolidated financial statement?
If the government does produce a consolidated financial statement, they would need to take out intra-company transactions. Because in a group context, all the subsidiaries are treated as within the group and only transactions outside of the group would count as a transaction.
So in a group context, the loans given by the government with interest expense of $1.5 billions paid by HDB to the government would need to be contra out.
It would make no sense to give a loan to yourself and charge yourself interest and show others what you made from yourself.
I could be wrong, maybe you make loan to yourself and charge yourself interest and tell your friends that you made $100 from loaning yourself some money.
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Do you know why people say that chinese family business usually doesnt last 3 generations?Originally posted by maurizio13:So who is the ultimate holding company?
The government.
So does the government produce a consolidated financial statement?
If the government does produce a consolidated financial statement, they would need to take out intra-company transactions. Because in a group context, all the subsidiaries are treated as within the group and only transactions outside of the group would count as a transaction.
So in a group context, the loans given by the government with interest expense of $1.5 billions paid by HDB to the government would need to be contra out.
It would make no sense to give a loan to yourself and charge yourself interest and show others what you made from yourself.
I could be wrong, maybe you make loan to yourself and charge yourself interest and tell your friends that you made $100 from loaning yourself some money. -
Originally posted by maurizio13:The government's main account is never consolidated or disclosed. Even if consolidated, by whom is it verified by.
Thus, ordinary Singaporean citizens will never know or understand the ultimate behind these inter-departmental movement of funds.
We don't even have a strong opposition to check on the application of funds.
haha........ keep on dreaming -
That not the issue but what we oppose is the government is in actual fact trying to mislead people to believe in their so called "subsidy" when in actual fact they are not spending a single cent here.Originally posted by Gazelle:it is indeed a left and right pocket transaction however I would rather the money goes into state fund rather than HDB buying plasma TV, leather sofa etc
The proper term to use is "discount" and not "subsidy". -
it depends how you look at it. From the government point of view, they would want to extract the maximum "fair" value from the land sales to HDB. "fair" would mean what the market could afford and that will depend on the state of the economy. As long as HDB price it below resale price, that is subsidy.Originally posted by Seant7:That not the issue but what we oppose is the government is in actual fact trying to mislead people to believe in their so called "subsidy" when in actual fact they are not spending a single cent here.
The proper term to use is "discount" and not "subsidy".
Everybody would want to buy cheap and sell high, but that sort of "free lunch" or windfall is not going to happen. -
No more contentions from the savannah animals?
So HDB payment of interest charges to government is similar, to a person taking a loan from himself, paying interest to himself, so that he can show a loss in one hand while hiding the profits in another hand?