HDB to spend $40,000 on Chinese New Year decorations at HDB hub

[Watchman]

HDB to spend $40,000 on
Chinese New Year decorations at HDB hub
January 6th, 2011 | Author: Editorial

The Housing Development Board (HDB) will
be spending $40,000 on
Chinese New Year decorations at the
HDB hub in Toa Payoh, according to
a tip-off we received from a reader:

[Source: gebiz.gov.sg]

It is not known what the decorations
will entail to warrant such an amount
when HDB claimed that it has suffered
a ‘loss’ of some $2 billion dollars in
the last financial year to ’subsidize’
Singaporeans and PRs in public housing.

As the prices of HDB flats continue
to escalate, HDB will have more
reasons to ‘celebrate’ the coming
Chinese New Year.

According to latest data, prices of
resale flats have increased by
51.3 percent between the years
2007 and 2010 while that of new
flats have grown by more than
30 percent within the same
period of time.

HDB is supposedly a ‘non-partisan’
government agency created in
1961 by the PAP government to
build ‘cheap and affordable’
public housing for Singaporeans.

 

[Watchman]

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