Cronyism has hit Singapore again with an estimated S$100 million to be given to dormitory operators to cover their costs during the lockdown period that started on April 7.
All costs incurred will be paid for by Singaporean taxes.
In the financial year of 2019, the net profits of Singapore Exchange-listed companies Centurion Corp, Wee Hur Holdings and Lian Beng Group from their dormitory and other businesses were $103.8 million, $34.9 million and $32.9 million, respectively.
Centurion Corporation has 2 “joint” chair persons sitting on its board: Joint Chairman David Loh Kim Kang and Joint Chairman Han Seng Juan – both are PAP grassroots members from Potong Pasir PAP SMC.
Another dorm operator also linked to the ruling party PAP is Vobis Enterprise, which owns 3 dormitories in Singapore.