If you take the WP’s figure of $7.58 in 2012 with say an increase of 5 per cent per annum for the next 2 years, you get a grand total for the three years of $16,605,433 (which is very close to the $16,752,314 WP submitted to the HDB).
2012: $7.58 x 57,899 units x 12 months = $5,502,721
2013: $7.96 (5% increase) x 57,899 x 12 = $5,530,512
2014: $8.36 (5% increase) x 57,899 x 12 = $5,808,428
Total for the 3 years = $16,605,433
The MND instead uses the $16,752,314 to divide by 36 months to derive its $8.04. Full story
