[h=1]HDB NEEDS TO FURTHER EXPLAIN THEIR FINANCIAL REPORTS[/h]
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31 Dec 2014 - 7:41pm
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HDB said they made a loss of $2b. From the HDB Financial statement:
1) Why the need for $2b grant from the government when you have cash and assets of $81,363b?
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2) Why the need to transfer $62,358b to the government?
3) Where do u get the figure $62,358b, why there is no break down of the loans that amount to these staggering figure?
4) I understand about $30b loans were granted to the homeowners that worked out to something like $600 million interest earned. Why is this interest earned not highlighted?
5) HDB lands where key estates like Sims Drive which was demolished and sold by the state land to the developers, were these highlighted?
I think our ‘first parliament’ WP MPs are sleeping.
I do appreciate readers’ feedback. What do you think?
Aziz Kassim
TRS Contributor
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31 Dec 2014 - 7:41pm
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HDB said they made a loss of $2b. From the HDB Financial statement:
“FINANCIAL POSITION
As at 31 March 2014, HDB’s total assets amounted to $81,363 million.
Loans receivables were $36,665 million. Property, plant and equipment, investment properties, and properties under development and for sale were $40,960 million. These assets accounted for 95% of the total assets.
Capital and reserves stood at $14,975 million as at 31 March 2014. Reserves comprised capital gains, reserves of $6,949 million and asset revaluation reserve of $5,562 million.
The loans payable of $62,358 million comprised mainly loans from the Government.”
My questions are:As at 31 March 2014, HDB’s total assets amounted to $81,363 million.
Loans receivables were $36,665 million. Property, plant and equipment, investment properties, and properties under development and for sale were $40,960 million. These assets accounted for 95% of the total assets.
Capital and reserves stood at $14,975 million as at 31 March 2014. Reserves comprised capital gains, reserves of $6,949 million and asset revaluation reserve of $5,562 million.
The loans payable of $62,358 million comprised mainly loans from the Government.”
1) Why the need for $2b grant from the government when you have cash and assets of $81,363b?
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2) Why the need to transfer $62,358b to the government?
3) Where do u get the figure $62,358b, why there is no break down of the loans that amount to these staggering figure?
4) I understand about $30b loans were granted to the homeowners that worked out to something like $600 million interest earned. Why is this interest earned not highlighted?
5) HDB lands where key estates like Sims Drive which was demolished and sold by the state land to the developers, were these highlighted?
I think our ‘first parliament’ WP MPs are sleeping.
I do appreciate readers’ feedback. What do you think?
Aziz Kassim
TRS Contributor
