SINGAPORE: Reform Party leader Kenneth Jeyaretnam was issued his ninth correction order under the Protection from Online Falsehoods and Manipulation Act (POFMA) on Friday (Mar 14).
Minister for Transport and Second Minister for Finance Chee Hong Tat instructed the POFMA Office to issue the order to Mr Jeyaretnam, said the Ministry of Finance (MOF) in a media release.
This latest POFMA order comes after his Mar 3 Facebook post, in which he claims that the government uses its monopoly on land supply and its control of land demand through immigration policies to intentionally drive up land prices, including Housing and Development Board (HDB) flat prices, so as to increase the value of Singapore’s reserves.
The claim, according to the MOF’s statement, is untrue.
In refuting the claim made by Mr Jeyaretnam in his Facebook post, the ministry said that the government does not use its land sales and immigration policies to drive up land prices or to increase the country’s reserves.
“The Government’s approach to land management is based on Singapore’s planning and development needs, and not to intentionally increase land prices and prices of HDB flats,” MOF said.
The ministry also said that the government’s immigration policies are intended to moderate the impact of ageing and low birth rates on Singapore’s population.
The fair market value of land is determined by the chief valuer based on established valuation principles, the ministry said.
This takes into account the relevant resale transactions on the open market, and “other relevant factors such as specific parameters of the site”.
“The chief valuer makes her assessment independently, without influence from the government,” said the ministry.
The ministry added that these facts have been made known to Mr Jeyaretnam through a previous correction order that was issued to him on Jul 4, 2024.
