SINGAPORE — The Housing Development Board (HDB) announced on Monday (31 Oct) that it incurred a record net deficit of $4.367 billion for the Financial Year (FY) 2021.
This deficit is 86% higher than the $2.346 billion deficit incurred in FY2020, and is the highest ever deficit recorded since the inception of public housing in Singapore. HDB said that the bulk of the losses – $3.85 billion – stems mainly from the expected loss of $2.262 billion for flats that are currently under development.
HDB Built-to-Order (BTO) flats are not priced based on the total development costs incurred, which comprise construction and land cost. Instead, HDB determines the market value of new flats from comparable resale flats nearby and applies a subsidy to them.
HDB also said that it received grants from the Finance Ministry to cover its deficit. In all, HDB is said to have gotten $42.97 billion in grants since its establishment in 1960.
Nevertheless, the People’s Action Party (PAP) government has thus far not revealed the original cost of all the land it acquired through compulsory acquisition since 1960.
Singapore Govt Paid $7.50psf For Farmlands In 1979
However, some of the original cost of the land that the PAP government had compulsorily acquired could still be found online, like for example, how farmlands were acquired at $7.50 psf in 1979.
According to a booklet published by The Centre for Liveable Cities (CLC), a government agency established by the Ministry of National Development (MND) and the Ministry of Sustainability and the Environment (MSE), both farmers and residential occupants affected by government-compulsory land acquisition in 1979 were compensated at $7.50 psf for their “squatter house with concrete floor”.
One of those places affected was Hougang. In 1979, HDB announced plans to build a 460-hectare new town in the Hougang area to house 120,000 people. Hence, land had to be acquired to make way for constructing HDB flats.
Hougang is an area located in the northeastern part of Singapore, bounded by Punggol in the north, Upper Serangoon Road in the south, Sungei Serangoon in the east and Yio Chu Kang in the west.
According to NLB Infopedia, “Hougang” is the romanised Mandarin name for “Au Kang”, a Fujian and Chaozhou term meaning “the end of the river”.
The new town was originally known as Hou Kang, but the HDB renamed it Hougang the following year in support of the government’s Speak Mandarin Campaign.
This area was largely populated by Chinese Teochew residents. Many were involved in farming.
Midwife Mary Hee Sook Yin who was posted to Lim Ah Pin Clinic in Hougang for three months during the 1960s, recalled interacting with those simple rural folks there. She recalled being woken up in the middle of the night for calls and having to cycle to villagers’ homes to attend to women giving birth.
Mdm Hee shared, “Last time, the patients are very good. They are really grateful to you. Even some, after they have [given] birth, they give me eggs from the farm … until I don’t know what to do with the eggs. I learn how to make sponge cake, butter cake … I tell you, I really enjoyed my three months there.”
By the late 70s and early 80s, while there were those who were resettled to other housing estates such as Ang Mo Kio, there were many former Hougang villagers who found their homes in the new Hougang town. As a result, Hougang today is still known as a Teochew enclave among Singaporeans.
Angry Hougang People Vote For WP
Without farming, life was tough for those resettled at the new Hougang HDB estates.
A netizen posted a story online of how the people in the Hougang single-member constituency (SMC) voted for Low Thia Khiang of the Workers’ Party (WP) eventually.
The former WP Secretary-General won against the PAP candidate in General Election 1991, with a score of 52.82 per cent and the party has held onto the ward since then.
Mr Low himself is a Teochew and used to speak Teochew during election rallies.
“Angry Houganger” wrote:
“My father and uncles, groomed to take over my grandparents pig/chicken farm ended up with nothing except a roof.
I witnessed how my dad and mum had to work like slaves hopping around with odd jobs, struggled and suffered so much just to feed the family with really humble food to fill up our stomach, and for me and siblings – decent education. Life was really tough that they had almost exhausted whatever options. PAP MP Tang Guan Seng (the MP before WP Low Thia Khiang beat him in 1991 GE) treated my dad and mum like dirt when they went to seek help from him. My mum came back home with tears.
In one of a routine family gathering during weekend, we made a serious discussion to vote for the incumbent just because we wanted lift upgrading for our old ah gong and ah ma. Both reacted angrily. My ah gong swore he will walk out of the house if he ever knew any of us vote for the white and ah ma threatened to commit suicide by jumping down from our house. Then both educated us that life may be tough but we shall NEVER BOW down. My siblings and I could see the eyes of uncles and aunties swelled…
During both of my grandparents’ funeral, Low Thia Khiang visited at late hours after meet-the-ppl session… and spoke to us. Throughout the years, all of us grow up to know more of Low Thia Khiang… though he is never able to help hougangers with certain issues but he is NEVER an actor, and NOT for personal glory. and not forgetting what kind of person the PAP has sent to hougang smc….
All my uncles and aunties… including my siblings, and most of my cousins either live at hougang smc or aljuined grc now for obvious reason! Majority of hougang residents are 1st and 2nd generation teochews, formerly pig farmers from punggol. Pappy forcefully took away their land, their only assets, their only livelihood, give them only very little compensation… This is forever stuck in their heart.
The teochews in hougang may be the poorer versions of Li Ka Shing, also a teochew, but they sure share the same business/trader traits. They are not called the ‘Jews of China’ for nothing. Teochews make up only 2% of Chinese but economically, they punch way above their weight.
Teochew people got a lot of pride one. If you notice, they are very ‘tee kee’ stubborn people too. Try to bribe them with million dollar upgrade or abalone porridge? PUI to YOU! You cheat them once they will remember YOU for life. They have to pay for this atrocity.
I hope rest of Singapore wakes up before its too late!”
