Straits Times publishes 4 full pages on water supply and price hike but no mention of costs, revenues, profits?

4.5 pages on water?  I refer to the four and a half pages in the Sunday Times (Mar 12) – arguably, trying to explain the justification for the water price increase.

Most important data missing? I am unable to find in the four and a half pages the data which are arguably the most pertinent and obvious (at least to Singaporeans) on the subject issue. No costs, revenues, profits? Namely, what are the historical costs, revenues and profits/losses, and the future projections? Try to estimate? Let me attempt to do some estimates.

• The PUB’s profits for the last financial year was $167 million.
• The Water Conservation Tax for the last financial year was $192 million.
• GST is estimated to be $44.8 million (7% divided by 30% x $192 million).
• The estimated income tax transferred to the Government on the PUB’s profits was $34 million ($167 million divided by 0.83 (17% tax rate) – $167 million).

The total for the above four items works out to $438 million. $438m cash inflows – profits? So, does it mean that the cash inflows from water is about $438 million for the last year? Projected future cash flows?  With the increase in the price of water by at least 30 per cent – what are the projected figures in the future? 154th Press Freedom ranking?  Is it any wonder why our Press Freedom ranking is at an all-time low of 154th? Read:

• False justifications for water price increase
• Singapore water cost 10 times more than Hong Kong but average consumption only 30% less
• Is the Government not being truthful with the expected increase of water prices?
• Water has been fully priced all along