THE TEMASEK TIMES

News and views from an unique perspective

Archive for September 22nd, 2018

Credit Suisse: HDB resale flats likely to see a steady decline in value over time

Posted by temasektimes on September 22, 2018

The value of HDB resale flats is likely to decrease over time near the end of their lease and buyers are less willing to pay for an aging flat, according to a report published today by Swiss bank Credit Suisse.

“We believe it will likely take some time for residents to understand the evolving narrative on the nature of HDB flats — from one where HDB flats are a good store of value and attractive investment class that will continue to appreciate, towards one where we are likely to see a steady diminution in value as we approach the end of the 99 year lease, following which the flats will revert to the government,”said Credit Suisse research analysts Louis Chua and Nicholas Teh, who penned the report.

Read rest of article here.

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Lee Chong Wei diagnosed with early stage nose cancer

Posted by temasektimes on September 22, 2018

Malaysian badminton superstar Lee Chong Wei has been diagnosed with Stage 3 nose cancer!

According to reports in the Malaysian media, Lee was confirmed with early stage nose cancer and is currently in Taiwan seeking treatment.

 

Source: Facebook 

 

“But please give Chong Wei the space and peace of mind to recover…Chong Wei is currently in Taiwan seeking treatment, and I am pleased to inform you that he is responding well to his treatment and is currently resting and recuperating amongst family and close friends,” pleaded Badminton Association of Malaysia (BAM) president Datuk Seri Norza Zakaria in a statement after a post went viral on social media saying Chong Wei was suffering from third-stage nose cancer.

BAM had earlier issued a statement two months ago saying Chong Wei was taking a break from badminton after he had been diagnosed with an unspecific disorder related to the respiratory system.

Chong Wei won the Olympic silver medal three times and is considered one of the greatest sportsman in Malaysia.

He is currently undergoing treatment in Taiwan and is expected to return home after completing his treatment at the end of the month.

 

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Pritam Singh: WP supporters should never feel embarrassed being called “PAP-lite”

Posted by temasektimes on September 22, 2018

WP Chief Pritam Singh has made a stunning admission on his Facebook page that his party has been criticized by some Singaporeans for being “PAP-lite” and WP supporters should not be embarrassed about it!

Pritam has received brickbats recently from some netizens for supporting the PAP in the Select Committee on Deliberate online falsehoods including its “unanimous” decision to disregard the input of internationally renown historian Thum Ping Tjin as he was found to have “lied.”

When confronted by freelance journalist Kirsten Han on his tacit support for the PAP’s bullying tactics, Pritam made a lame attempt to deflect the issue:

“Dear Kirsten – in my mind, the issues the Select Committee raises are much more significant that PJ. I cannot say anything on the deliberations in Committee on the matter as those are confidential and I will be in breach of Parliamentary rules if I did. So let me leave it at that.”

One netizen pointed out that he was confused by Pritam’s stance which appears no different from the PAP to which Pritam replied that WP will continue to agree with the PAP in the “best interest” of Singapore and WP supporters should never feel embarrassed about being called “PAP-lite”

Source: Pritam Singh’s Facebook page

 

Despite being the only “opposition” party in Parliament, the present WP seldom dare to hold the PAP accountable, leading many frustrated Singaporeans to dismiss it as the “PAP’s B team” or worse, a “lapdog” of the PAP.

Having an “opposition” which does not oppose is WORSE than having no opposition in Parliament at all as it lends a veneer of legitimacy and respectability to the autocratic rule of the PAP allowing it to portray Singapore as a “democracy” to the world.

Russia has many “opposition” parties in Parliament too, all of which are directly or indirectly controlled by President Vladimir Putin. In Singapore, the continued charade of a fake opposition party masquerading itself as a “credible” opposition in Parliament will only serve to entrench PAP rule for many years to come.

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The ugly truth about “your” HDB flat

Posted by temasektimes on September 22, 2018

So recently you have heard the following about “your” HDB.

1. You are a Lessee and not an owner.

2. HDB is your landlord.

3. Older HDB’s will decline in Value.

4. HDB will eventually go to Zero.

5. There is a long list of things you can’t do in your own home and they are thinking of adding smoking to that list.

6. Besides the Police , IMDA civil servant officers can already break in to your home without a warrant if they want to investigate you and now they want to give that power to NEA officers.

7. HDB are becoming unaffordable for newer generations.

8. Although they say it has to be 99 years lease to protect future generations most sites currently redeveloped under SERs were sold to private developers and turned in to private Condo’s and not new HDBs

9. Some new HDBs are being built down wind from toxic chemical and industrial facilities while private units are built in choice locations.

10. You are charged for land you never own in the price.

11. You pay property tax on a building you never own while you stay there.

12. When the landlord does any upgrading of his estate or building such as in HIP you have to pay for it.

13. HDB mortgage for the last 20 years has average almost 1% above the bank rate yet you are told it is a special rate.

14. Your life savings (CPF) are tied to your HDB and are being affected as older HDB’s are already going down in price and hard to sell.

15. You over paid for your resale flat because you were led to believe it was an investment and an appreciating asset when actually it depreciates and finally goes to zero.

16. Your retirement is now tied to your HDB which goes to Zero and at risk.

17. If you break any of your landlords rules they can take away your home with no compensation regardless if you have paid for it in full.

18. You have nothing you can leave to your children so your hard work and sacrifice is wasted and they have to repeat the whole cycle again.

Given your HDB has been shown to not be an investment, you don’t own it, there is a massive list of do’s and dont’s when you stay there, Government officers can enter it at will, HDB can reposses it at will and you over paid for it and have zero value left after a lifetime of work what is positive about your HDB?

When we create new policies to fix all of the above that is wrong with HDB we also want to expand upon what you think is right.

Thank you.

 

BRAD BOWYER

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