The video was first posted on his TikTok and Instagram accounts on July 24 and then on YouTube on July 25.
The property agent was issued a correction order for a video that referenced the recent $1.73 million sale of a five-room HDB flat at the SkyOasis @ Dawson development.
First, that the EIP offers no benefit to ethnic minority households and instead causes them significant financial detriment when they sell their flats.In the video, Mr Shaik referenced the recent $1.73 million sale of a 45th-floor five-room HDB flat at the SkyOasis @ Dawson development in Margaret Drive, the estate where he also lives.
MND also said it is misleading to focus on the point of resale, without setting out that the flat was obtained in the first place within the framework of the EIP. Segregation also generally affects minority communities more than the majority, in this case, the Chinese, it added. “The effects of such segregation are bad and can be seen in many countries all over the world.”
“In this way the Government ensures the minority communities are also able to benefit from the increase in value that takes place when a flat bought from HDB is resold at a higher price,” said the ministry. Flats bought back by HDB in this way will be offered for sale through SBF exercises or open booking of flats, and the board will give a significant subsidy on the assessed market value of the flat in determining the sale price.
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