HDB construction costs revealed

Construction costs of public housing are deliberately omitted out in every price list of the HDB’s latest Build-to-order (BTO) flats. Like the cooling off day and all other weird PAP practices, the reason is again political. Imagine how ugly the PAP will look if Singaporeans know how much profits a publicly funded statutory board like the HDB is profiting off a 25 year long mortgage debt of ordinary citizens with one of the lowest domestic purchasing power among developed countries [Source]. Then again, just look at how benevolent and generous PAP is with their HDB grants when construction costs are disregarded and the market price benchmark is adopted instead. It is no wonder the PAP can claim that HDB is bleeding so much that they are $1 Billion poorer every year from “helping” Singaporeans [Source].

Leaving the topic of poor domestic purchasing power for another day, the focus is of this article is to provide a close estimate of how much profits HDB is earning per unit flat.

Let’s take the March 2013 BTO exercise as an example:

Project
Flat Type
Selling Price
(excluding Grants)
Selling Price
(inclusive of Grants)
Non-Mature Towns/Estates
Compassvale Cape
Studio Apartment
From $88,000
3-room
From $189,000
From $159,000
4-room
From $284,000
From $269,000
5-room
From $365,000
From $355,000
Compassvale Helm
Studio Apartment
From $88,000
4-room
From $304,000
From $289,000
5-room
From $372,000
From $362,000
Matilda Portico
4-room
From $294,000
From $279,000
5-room
From $363,000
From $353,000
SkyPeak @ Bukit Batok
2-room
From $117,000
From $57,000
3-room
From $209,000
From $174,000
4-room
From $294,000
From $279,000
5-room
From $411,000
From $401,000

 

Below are the construction costs of these BTO flats in Singapore dollars using an international project management company Turner and Townsend’s cost estimation [Source]:

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2 room HDB flats – 45 sqm – $67,500
3 room HDB flats –  60 sqm – $90,000
4 room HDB flats – 90 sqm – $135,000
5 room HDB flats – 110 sqm – $165,000

With prices less than half of HDB’s selling prices without grants, how much profits do you think the HDB is making even after throwing in a $30,000 grant? Don’t you think Singaporeans could have more access to affordable housing by shutting down the inefficient HDB stat board and pass all construction of “affordable” quality type of housing to the private sector instead?

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A deluded Singaporean need PM Lee to resign

Dear PM Lee

Gardens at the Airport. Medishield Life. “Affordable” HDB. Education “changes”. Each sillier than how you look in pink, and it all boils down to one trait of yours: Misplaced Priorities. You may have heard the wrong thing from the wrong person, but that doesn’t excuse you from making wrong proposals built on wrong fundamentals for Singapore. Let’s go through one by one to explain how have you compounded and worsen the existing state of affairs and the lives of 3 million Singaporeans.

1) Gardens at the Airport
Why are you doing this? We do not need more billion dollar playgrounds for foreigners. Gardens by the Bay cost $1.1 billion to build, $53 million a year to maintain [Source]. If your Project Jewel goes through, Singapore is bleeding at least $100 million every year just on maintenance alone. Have you gone out of your mind from losing too many by-elections? Why are you squandering Singaporeans’ money on billion dollar projects that serve no direct interests to Singaporeans? You could not even come up with ROI or statistical evidence in the form of tourist dollars or annual visits to these sites, and here you are happily pitching your very expensive garden to the average Singaporeans who have their bills to worry about. Also, didn’t you say you were ramping up infrastructures for a 6.9 million population [Source]? Why didn’t you use this money to build more housing, or are Singaporeans  going to sleep in the airport? This proposal doesn’t solve the overcrowding problem, it worsens it.

2) Medishield Life
Universal insurance for Singaporeans is a good step in the right direction. But how much are you going to make us pay? I will reserve comments for now until I see your price list. And, if you are not going to declare the pooled Medishield fund amount to the public, how could we trust you with our money? You could be raising premiums as and when you like it, like how you always tinker with our CPF’s Minimum Sum and Withdrawal Age without public consultation [Source]. We had enough of you telling us “you cannot opt out”. Your CPF Life Annuity was like this [Source]. Why am I not allowed the choice to opt-out when you have no accountability and transparency to show of in your system? Compare yourself to the Australia Government [Source] who could detail how much withdrawals and deposits are made, how do you expect the average citizen to trust our money under your care? We are not naive PAP voters who take in every word you say. Before we part this topic, we have also not gone on to the worsening quality of healthcare in Singapore [Source], so could you please get your basics right first before introducing new ideas?

3) “Affordable” HDB
This is where I can safely conclude you are stupid. Take the 2 room flat for example, do you know much is the initial deposit and how long will it take a $1000 earner to raise it? What is affordable when you have to take a 25 year debt? You are encouraging irresponsible parents to take up huge loans and pass on the debt over to their children. Playing with skewed statistics do not work on Singaporeans with less than half a brain. How much profit is the HDB earning through BTO flats after construction costs? What about the profit earned in interests from Singporeans holding mortgage loans through HDB? You are right when you said you are a housing agent, because like one, your salary is funded partly through Buyer’s Stamp Duty and annual property taxes. And your monthly financial projections that concludes how “affordable” HDB is? That is amateurish; voters like me are simply aghast at your $4000-salary-for-4-rm-flat joke. You should either leave the job of telling incomplete truth to the Straits Times, or resign to be a full time stand-up comedian in US making jokes about China [Source].

4) Education “changes”
Ok so you changed the point system to a L1R5-like band system. So what? You reserved 40 seats for non-affiliated enrollment in top schools. You allow Normal Stream students to take the O levels. Is this Change or coins in your pockets? It is hard to understand how are these going to stamp out elitism and reduce stress on Singaporean students. Band-chasing is going to put less stress on students than mark-chasing? Going to school with non-elites will make children of your fellow PAP MPs and Ministers less elitist? When we talk about Education “changes”, nothing has been mentioned about the lack of university places and the uphill costs of tertiary education. Right when you are calling every foreigner holding a degree “talent”, you are doing nothing to help aspiring Singaporeans obtain their degrees, so please, cut the hypocrisy and keep your change.

Despite your ludicrous proposals, there are also many issues you conveniently swerved out of – foreigner population, cost of living, COE prices, public transport breakdowns, inadequacy for retirement, media control, widening income gap, increasing corruption cases, depressed salaries, unfair NS treatment, dipping standard of living resulting in growing unhappiness among the people. These are important and valid concerns raised not just yesterday, but umpteen times in nearly every feedback channel, and your apparent overlook shows that you do not care.

In all honesty, you should resign. Your incompetence and misplaced priorities will ruin Singaporeans. If your idea of a Singapore is a mix of little India, little China and little Philippines, please say so earlier so we Singaporeans could all make our emigration plans.

Deluded Singaporean
Alex Tan Zhixiaing

Only solution for PAP: Decrease Singapore’s Population to 4 million

Singapore is on the free fall to be one of the worst countries to live in and the PAP is facing mounting pressures in all Ministries from voters who are poised to kick them out by 2016. So far suing critics didn’t stop Singaporeans from further bad-mouthing the PAP. Intimidation didn’t work, so are conning and controlling. Propaganda don’t work anymore these days in the internet age. So what is the only ONE solution that will solve all their problems?

Decrease Singapore’s population back to 4 million.

Here is what will happen if the PAP continue their destructive population growth strategies:

1) Cost of living will go up in the long run
Given that the current prices are already considered “cheap” with depressed labor costs, the cost of living will continue to increase as the pressure for wage increase are fueled by angry voters. Until the population of Singapore decreases back to 4 million and along with the downsizing of rich foreigners hogging expensive properties here, Singapore’s domestic demand will continue to keep everything expensive. That being said, so long the PAP government is in power, the population will never decrease because they are looking at the 6.9 million figure. Oh, and don’t forget PAP’s favorite word – Meritocracy. Meritocracy means that rich foreigner deserves the CEO at the same price as the average Singaporean. Same goes to housing for Permanent Residents and New Citizens.

2) Your salary will continue to be depressed
The system has been structured in a way that the middle class is the new low class, and the poor are the lowest income earners who pay taxes(GST). Bare minimum. That’s all you can get. You might still manage to squeeze out that little luxury of an annual Phuket trip, but retirement and family is out of question. The average folk will not starve(there you hear the white supporters go hooray and start telling how bless you are not born in Philippines) but you can never have sufficient. The PAP effectively depress 90% of everyone’s wages across all industries through the use of E-pass, S-pass and Work Permit Minimum Wage.  It wouldn’t make sense of any employer to pay a Singaporean higher than a foreigner on Minimum Wage, and as such, salaries will continue to be depressed based on the unofficial benchmark set by the Manpower Ministry.

3) Their salary will continue to increase
If you were previously unhappy about the PAP Ministerial Salaries, you should take a chill pill first before reading. Given that the PAP have continued to face 2 consecutive by-election losses, the political party is finding it harder than ever to find a “decent” candidate. Going by PAP’s “decency”standard, you will have to be at least a lawyer, doctor, businessman or a high flyer earning good money in their government-linked companies. These “decent” candidates-to-be will not be attracted to step up to campaign the election if the Ministerial or MP salaries are not high enough. As a result of the increasing difficulty of finding a candidate, the PAP will further increase the salaries of their kind…which further anger the voters to remove more of them out of office…which in turn increase the difficulty of finding a candidate….which calls for another round of Ministerial/MP Salary increase…oh well you get the drift.

4) Work-life Balance will worsen
The cheaper and hungrier people are here and you see them coming en masse from China, India and Philippines. Never mind their non-existent quality of work, they are willing to work longer than the MOM-stipulated 44 hour work week at no OT pay and complains. Simply put, these foreigners spoiled the market.

5) Overcrowding to worsen, inequality to worsen, no more retirement, lower fertility rate, more breakdowns, increase in crime rate, longer waiting time, unhappier people, more social conflicts, diminishing national identity, increase redundancy of National Slavery…
All these points towards only one magic figure – the number of foreigners. All these problems are the results of having too many people standing on the same spot. The PAP has no solutions to the above problems because they created the problems in the first place. Their only redemption is to decrease the population and, hopefully, alleviate and even reverse Singapore’s terrible state of affairs today. Do not expect Singaporeans to believe any of the latest PAP gimmicks like Our Singapore Conversation and Baey Yam Keng’s face [Source] to solve true problems on the ground when more foreigners continue to crowd us out.

6) Political Impact
Given how well the Workers’ Party have been doing and nobody today is actually missing George Yeo and his gang, losing a few more GRCs is expected. And that means losing a few more Ministers. If this trend continues, the PAP will eventually be voted out of power in just 1 or 2 more elections. The existing structure of the GRC means that once the PAP becomes an Opposition, the chances of them regaining incumbency is near-impossible. That of course has been prepared for by the PAP, which is why more SMCs are coming up and smaller and fewer GRCs are created. Nonetheless, with lesser GRCs, the PAP will still lose more seats. Not mentioning the liberalization of the mainstream media and government-linked companies, the country will be de-politicized eventually when more people lose faith of expecting another PAP victory.

And the most important political impact of all – the shame of Lee Hsien Loong. The son who lost everything his father built.

Shanmugam wasted time at ASEAN haze meeting

In his latest haze-control meeting to Thailand, Foreign Minister K Shanmugam made zero progress on none of the 3 objectives set by the PAP government in July [Source] to enforce haze-control measures. The trilateral meeting between Singapore, Malaysia and Indonesia was arranged to work out concrete plans to prevent the yearly recurrence of the slash-and-burn method adopted by Indonesia-based companies to clear forests for the plantation season. This year, the haze was exceptionally bad in Singapore with the air quality index reaching 400 PSI. The PAP government however did not implement any responsive actions like issuing a stop work order even to outdoor employees despite having the air quality hovering at dangerous level for more than a week. They have instead made a lot of promises to increase collaboration effort through talks with Indonesia. The ASEAN haze meeting was supposed to work out prevention measures to ensure there will be no repeat of air quality concerns due to forest burning in the future. The August 14 meeting also left out representatives from the 2 countries least affected – Thailand and Brunei.

The outcome of the ASEAN haze meeting [Source] is at best a fruitless meeting, ending up with appreciation of fire-fighting effort by Indonesia and implementation of existing framework. The haze meeting eventually ended quickly and focused on the ASEAN territorial disputes with China. Despite having achieved nothing from the ASEAN haze meeting, K Shanmugam claimed that the meeting was “good” and “yielded on a number of haze-related issues”. Below are the 3 objectives of which the PAP initially set prior to the meeting, of which are literally thrown out of the window:

1) Name-and-shame of companies
The concession maps, which when combined with satellite imagery, allow pinpointing of errant companies responsible for the forest burning. The PAP proposed the public name-and-shame method against companies which started the fire. This was however objected by Indonesia stating concerns of legal and confidential issues. A public naming of these companies can result in open economic sanctions by both the public and private sector in Singapore.

2) Ratification of 2002 Agreement on Trans-boundary Haze Pollution
The 2002 ASEAN haze pollution treaty formalize forest-clearing techniques that will outlaw forest-burning, a practise largely adopted by Indonesia-based companies. Indonesia has still refused to ratify the agreement immediately, and instead stated they “may” ratify the agreement by year end or early 2014.

3) Foreign fire-fighting help offer
Indonesia continue to refuse fire-fighting help offered by other countries. In June, Malaysia offered cloud seeding help to Indonesia, of which the latter didn’t response.

Given that no constructive measures were actually undertaken in the ASEAN meetings, the haze is expected to return in 2014 again. Companies responsible for fire-starting in 2013 have gone scot-free with not even a single company singled out for punishments.

Aside from the haze meeting issue, the Code of Conduct proposed by the PAP government to observe engagement rules with China has been totally left out of the discussion. Currently, Vietnam and Philippines are deep in territorial disputes with China over the South China Sea. Philippines has also other quarrels with Taiwan over the murdering of a Taiwanese fisherman by its naval guards, and conflicts with Hongkong over the incompetence of the Philippines Police to secure a bus hijack incident in Manila. It is unlikely other countries will go out of their way to defend Philippines, a 3rd world country infamous for corruption and inefficiency, and offend China, the Asian superpower and also the 2nd largest economy in the world.

Latest jokes by the team with Tin Pei Ling in it

Here are the latest jokes by the team with Tin Pei Ling in it:

1) “The GPC said feedback from social workers indicates that they see regular cases of clients who choose to voluntarily admit themselves or extend their stay in hospital so that they can use their Medisave for treatment.”

Poor Singaporeans who seek social workers’ help are CLIENTS who have made much money for the government hospitals. Many of these CLIENTS love to admit themselves in hospitals than being at the comfort of their home, just so they can use their Medisave.

2) “It said Medisave curbs that over-encourage the use of acute healthcare system should be reduced and minimised.”

Medisave restrictions that prevent you from accessing your money are encouraging you to get sick and abuse the healthcare system.

3) “Medisave should be allowed to be used for health screening, essential dental procedures, physiotherapy and occupational therapy up to a certain cap to prevent excessive usage. Medisave withdrawal limits should be regularly reviewed to ensure that the out-of-pocket expenditure for Singaporeans remains manageable.”

Health screening, essential dental procedures, physiotherapy and occupational therapy are optional, and if the 70 year old used these sessions excessively, the PAP is not going to pay. And the selective use of the word “remains”, indicates that healthcare costs paid on cash is still manageable or what?

4) “It wants to make sure that Medisave is not depleted prematurely as people use it to support family members.”

When your family member become bankrupt due to piling medical bills, you cannot help them using your own Medisave. You can only pay cash, otherwise there is no more Medisave left for the PAP when it is your turn to get sick.

 

GPC health

Are these useless bums running the country down or are they reluctantly spending on healthcare budget in hope for a salary review?

As Medisave are savings derived from hard-earned income, and especially for the elderly earning $3.50 an hour working as cleaners, it is wicked and outright unethical of the PAP to put up restrictions preventing them from using their savings to pay for their own treatment. Singaporean workers’ pay up to 36% of their monthly wages [Source] to the CPF which is supposed to guarantee them a worriless retirement and healthcare system. For an Australian worker earning the same median paycheck as a Singaporean worker at SGD $3500, one will only need to pay 9% under the Australian tax system [Source] which guarantees a pension system and free healthcare. How much has the PAP shortchanged Singaporeans can be easily weighted when we are paying 4 times in CPF as compared to taxes in Australia, we could still see elderly working humiliating manual labor and still struggling for a living in their twilight years.

“Help” offered by the PAP are often crumbs of the economic success left after rich foreigners and employers had enjoyed their buffet. Healthcare for Singaporeans are seen as an expenses to the PAP, who holds a perverted mindset that more Singaporeans volunteer to get cancer just to abuse the healthcare system. The proposal of the Government Parliamentary Committee(GPC) of Health, consisting of dim-witted yes-men MPs like Tin Pei Ling and Teo Ho Pin, have made near-zero improvements to the existing healthcare framework by suggesting minor cosmetic changes to the broken system fended shamelessly for by the PAP over the years. None of the PAP MPs nor Ministers has proven their salt by pushing for a free universal healthcare for Singaporeans. It is apparent that voting for the PAP will only continue to ensure piling medical bills for sick and disabled Singaporeans.

The saying that “the sick is better off dead in Singapore” will continue to ring true so long the PAP stays in power.

Most comprehensive Our Singapore Con-job(OSC)

oscWatching 8 Harry Potter movies 82 times. 12,600 cups of coffee enough to fill 1/1000 of an Olympic-sized pool.

Behold.

This is the National Con-job(OSC).

There is this info-graphic detailing how much resources are spent on the massive propaganda exercise to help the PAP pretend they listen to you [Source]. Given the attention and media coverage showered, it appears like the PAP is betting their political future on the OSC. Today’s problems in our retirement, employment, housing, transport, reserves, electoral system, population, healthcare and education have only but one solution: the OSC. Why?

Let’s take a case study: North Korea. Undernourishment is rampant in North Korea [Source] and the Kim dictatorship is one of the most oppressive regime in human history. But they successful stayed in power even when a good percentage of the people are living off tree bark. Indoctrination through powerful propaganda and the use of fear is key. Leaving fear out of the equation today and superimpose this on Singapore, and this is why the OSC is so important to them. To Kim Jong Un and the PAP, the solution is people’s perception, not realistic policies-changing constitution-rewriting system-configuring groundbreaking solutions. Every dollar invested in perception management, or propaganda, is more politically-productive than each cent spent building more BTO flats. From here, we can see the PAP’s true aim of the OSC – to remain its status quo as the dominant political party of Singapore.

Election campaigning did not end after the PAP was brought back to power in GE2011, they continued making promises of destinations that we would never arrive. Singapore today is more crowded than ever, more expensive than ever, more foreign than ever and just simply worse off every year whatever you name it. A short glimpse of how the OSC plot works was actually revealed not too long ago on the topic of population. What happened was the PAP claimed they have gone through numerous OSC sessions about the population and they ended up with a White Paper calling for a 6.9 million population. Could you see the message?

You see us hearing you, do you feel better now? But you don’t know better.

According to the PAP, your feedback will be considered during policy formulation. But what they didn’t tell you is they will just shove down the policy down your throat whether if you like it or not – the same way they have been doing for the past decades. Hardly the consultative government they are pretending to be. The PAP is right when they claimed they are conducting the “most comprehensive” feedback exercise ever; they have never been as serious about their pretense as before. They used to have an online programme in 2006 called Reach [Source], but it ended with a quiet death as the moderators actively censored and banned feedback critical of the PAP. It remains to be seen if the OSC will fade away like Reach. Prior to Reach, the PAP relied on their powerful grassroots outreach in the heartlands. In every town, there is a community centre which centralize control of every residential committee in the different precincts, each comprising of a few HDB blocks. Feedback from the ground were supposed to push up to the Ministerial levels via the grassroots leaders. Unfortunately due to the influx of foreigners, more Permanent Residents and New Citizens get to become grassroots leaders and they started giving skewed ground sentiments or “the right things” to their higher ups, with help from the usual opportunists, business owners and salesmen who joined the grassroots for networking, business opportunities, HDB priority parking or Primary School registration priority for their children. Lapdogs Grassroots leaders eventually become unreliable and were soon relegated to minion duties like putting up national flags, writing nasty comments about Singaporeans not happy with the PAP or distributing free chicken rice to anyone who attends a PAP rally. The PAP Ministers could no longer hear an honest feedback from its grassroots, which is why the OSC took the stage.

In retrospect, did the OSC help prevent an eventual downfall of the PAP? No, not even a bit, not unless the entire country is running on a virtual private network banning sites like The Real Singapore. The OSC seems more like a solution for North Koreans, not well-travelled IT-savvy Singaporeans. The OSC is an amateurish propaganda attempt, it is an insult and in fact it is a turn-off  to Singaporeans, or at least the 40% of us. Talking will not help, show us your sincerity by first re-appointing a different Minister who is not a sitting duck who knows nothing more than expressing his disappointment at SBS and SMRT and having his photos taken in public like Lui Tuck Yew. The public transport breakdowns are not going to go away with me acknowledging you hearing me, so are the 101 real issues out there.

Get things done, stop conversing and shut me up with results. Otherwise, prepare for 2016.

Your Conned Singaporean,
Alex Tan

A cheated Singaporean’s response to PM Lee’s National Day Speech

Is Lee Hsien Loong’s 2013 speech a joke? Did he even do his due diligence when he made those fancy claims promising Singaporeans the utopia in his speech?

1) “We have cleared the queue for HDB flats, stabilised BTO prices and tightened up on property speculation and excessive borrowing.”
In the latest BTO exercise, BTO flats remain oversubscribed by as much as 4.5 times in popular areas like Hougang(your much hated Opposition Ward). According to the HDB[Source], BTO applicant rejection rate is as high as 31%. So what do you mean by you have “cleared the queue”?  BTO prices have also increased steadily over 2010 to 2012 [Source], what do you mean by “stabilized? Stabilizing linear increase instead of an exponential increase? Also, when you said you tightened up on property speculation, did you actually mean you are making it harder of young couples to secure a housing loan and increased the number of non-NS serving new citizens to take advantage of the BTO system?

2) “We have added more buses and increased the number of bus routes.”
800 buses, or 20%, of the exiting fleet has been added, with 550 of these buses paid for by a hefty $1 Billion Singaporean taxes [Source] while SBS and SMRT chalks tens of millions consistent profits every year, recession or not [Source]. Money matters aside, Singapore population swelled more than 35% to today’s 5.45 million under your 10 year premiership, how is your 20% increased capacity going to help? And you are selling me the 6.9 million story? Could you have the decency and humility to be present at Raffles MRT station at 7pm to see the ground for yourself?

3) “We need foreign workers to serve our economy and Singaporeans’ needs, and immigrants to make up for our shortfall of babies.”
Are you importing a foreign adult to make up for the shortfall of local babies? If you are, you are only worsening the aging population. The good part about this is that you have not given up on low fertility rate like your father did. The bad part is that you are doing it wrong and Singaporeans are bearing the brunt of your incompetency. It is not only congestion and overcrowding we are facing, what about diminishing employment opportunities, inflation of domestic prices, education places [Source]? In your drive for immigration, you have somewhat become the unofficial Prime Minister of foreigners in Singapore. You failed to address the gross disadvantages of National Service, the distinctions between PRs and citizens, the recognition that a Singaporean poor is valued more important than a  foreign millionaire, the protectionism and privileges Singaporeans deserve for sacrificing to the political platform and accolades what you and your father enjoyed in our name over the decades. Your pro-foreigner policies have been logically met with much protests, but bear in mind, a better Singapore has always, and is made, only possible by citizens, not economic migrants.

4) “We need to strengthen this spirit of togetherness.”
For a start, please leave foreigners out of this “togetherness”. You know there is a political standoff among Singaporeans, then why do you deepen this divide by controlling the media and challenging every allegation, engaging in defamation lawsuits and letters of demands? It is no less hypocritical hearing that coming from a mental patient whose pathological history is stating otherwise. Perhaps I’ve been wrong, your idea of “togetherness” has no place for misfits like me. Your “togetherness” may prefer Singaporeans like me to emigrate, while a foreigner from any 3rd world country who can better appreciate you can be imported to take my place. You may also prefer to have Singaporean elderly working on a $4/hr paycheck than to have them taking a few zeros off your billion dollar projects like Garden by the Bay and the largest man-made river in Bishan. You may like new media control in addition to your worsening mainstream media credibility. And if what happened over the past few years is your definition of “togetherness”, kindly leave Singaporeans diverse and vocal.

5) “We will tackle the cost of living, for example healthcare costs, especially for the elderly.”
I cringed when I hear that because the last time you said you want to help the poor, you raised GST by 2% and then your Ministers started drawing million dollar salaries. We didn’t know the poor you were referring to were the poor Ministers who may  have their standard of living affected. Could you please be specific this time? Is $8 too much for Khaw Boon Wan’s bypass surgery? Does he need more help? If healthcare costs is an issue, shouldn’t you be reviewing the feasibility of the Medisave system instead of making undisclosed drawdowns from our reserves?

I am glad you cleverly gave resale flat prices, COE prices, purchasing power and breakdowns of public transport a miss. These are hot topics that will haunt you in 3 year’s time.

P.S. You may want to watch your awkward hand gestures flying around. You are not Obama, keep it simple stupid.

Cheated Singaporean
Alex Tan Zhixiang