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"Instead of applauding ourselves when house prices go up, we should try to develop a system where house prices don't go up for the next few years and we increase the supply - instead of 120,000 house a year, up to 250,000 a year, a sizeable portion of which should be rented." he said.
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Unusual for an IPO, the $680 million raised from selling a23.8 percent of the company will be distributed to existingshareholders - from billionaire Li to port workers - rather thanused to fund expansion or repay debt. Gnanalingam said the stockmarket listing was more about branding and returning cash toshareholders than raising capital.
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Obviously, this is the meaning of the often claimed intentions of the administration of pursuing a “political settlement,” which includes preventing the Geneva Conference from taking place, for example.
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