According to the Straits Times news report GE2015: PM Lee launches PAP slogan ‘with you, for you, for Singapore’, and manifesto” (Aug 29) – “Mr Chong, 62, took aim at opposition parties for being evasive. By contrast, the PAP has been transparent, open, and “where we have fallen short, we have taken decisive action to right our wrongs”, he said.”

What S’poreans want to know?

Since we are talking about “has been transparent, open” – why can’t the Government be transparent and open about the following:


… what is the breakdown of the price of HDB flats into the construction and land costs (60% estimated?) , so that we can estimate the amount of “profits” that the HDB has made in the last 55 years on the sale of flats.

With about 25,000 new flats sold last year, if we assume the average price per flat to be $200,000 – the “profits” from the “land costs” may be about $3 billion a year (25,000 flats x $120,000 (60% of $200,000)).

Over the years, this cumulative loss (“profits”) by the people including accrued interest may be in the hundreds of billions.


… what is the historical weighted average interest on all the CPF accounts, and the annualised returns of GIC since its inception, so that we can estimate the average difference in the returns (3% estimated) derived from our CPF funds that were not returned to CPF members?

With estimated CPF balances of about $288 billion now – the loss (“excess returns”) to CPF members in a year may be about $6 billion (3% of $288 billion).

Over the years, this cumulative loss (“excess returns”) by the people including accrued interest may be in the hundreds of billions too.


… what is the historical excess (few hundred million estimated) of annual Medisave contributions plus annual accrued interest, against annual public healthcare spending and total withdrawals ($2.5 billion in 2014 for direct medical expenses and insurance premiums) from Medisave?

Over the years, this cumulative sum including accrued interest may be in the billions of dollars.


… what is the total amount spent in a year on foreigners and permanent residents’ (PRs) scholarships and tuition grants, at all educational levels ($400 million estimated)?

Over the years, this cumulative loss (money to foreign students instead of Singaporeans) plus accrued interest may also be in the tens of billions.

What is the percentage of non-Singaporean students (foreigner and PRs) in the total enrollment (undergraduate and graduate) in the public universities? – about 30 plus per cent?

Govt not spending any money on CPF, HDB & healthcare?

In the final analysis, if we have transparency on the above statistics – we may realise that from a cashflow perspective – the Government may not have been spending a single cent on CPF, HDB and healthcare.

Breakdown “locals” jobs into Singaporeans and PRs

Why can’t all the labour statistics like total employment and the long-term unemployed, be broken down from “residents” into Singaporeans and PRs?

“Slogan ‘with you, for you, for Singapore’”

So, do you agree with the “slogan ‘with you, for you, for Singapore’”?

Leong Sze Hian

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