"The problem is that the HDB is not only the sole provider of public housing flats in Singapore, it is also a player in the rental market. As we have shown, the HDB acquires old flats through the SERS programme, and through its subsidiary, EM Services (the HDB owns 75 per cent of the company), refurbishes or upgrades the flats, and lets them out for rent. Perhaps this is one way the HDB circumvents its own rules which say foreigners are ineligible for rental flats offered by the HDB. Now, the question of conflict of interest arises – would the HDB rent out these flats to those such as the homeless at rents of between S$26 and S$120 and play its role as public housing provider, or operate as a private company (via EM Services) and rents out the flats to foreigners for profit, fetching anywhere from S$450 per tenant (as in the Havelock Road hostel) to S$5,000 (as in the Global Residence case)?"
Posted on: Wed, 18 Sep 2013 23:57:39 +0000
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