SINGAPORE: The Housing and Development Board (HDB) on Friday
(Sep 18) reported a deficit of S$2.02 billion for the financial
year ended in March 2015. This is 2 per cent more than in the
previous year, where a deficit of S$1.97 billion was incurred.
The bulk of the FY2014/2015 deficit comes from HDB's home
ownership segment, which covers the development and sale of flats.
This came in at S$1.75 billion, down from S$1.93 billion in the
previous financial year.
The number of BTO flats launched by HDB has also been declining
in recent years, from about 27,000 units in 2012 to about 25,000 in
2013, and to just under 23,000 last year.
However, the Housing Board spent more on its other functions
last year. It spent S$6 million more in FY2014/2015 compared to
FY2013/2014 on upgrading programmes to improve older housing
estates.
The HDB also spent S$124 million more in the last financial year
on residential ancillary functions, such as lease administration
and the management of ancillary facilities such as car parks in
housing estates.
As for its tenancy and management of commercial and industrial
properties, HDB recorded a S$66 million drop in surplus in
FY2014/2015.
- CNA/ek
