Kenneth Jeyaretnam slapped with 9th POFMA order, govt says he hasn't returned to S'pore to 'account for his actions'

Reform Party secretary-general Kenneth Jeyaretnam was issued his ninth correction direction under the Protection from Online Falsehoods and Manipulation Act (POFMA), said the Ministry of Finance (MOF) on Mar. 14.

The issuance of the direction was instructed by Minister for Transport and Second Minister for Finance Chee Hong Tat.

The direction concerns a Facebook post published by Jeyaretnam on Mar. 3, in which he alleged that the People's Action Party (PAP) drives up land prices by making use of its "monopoly over the supply of land", and its "control over demand through immigration".

This "[forces] you to pay more for your HDB, because that increases the value of the reserves", Jeyaretnam claimed.

Facts of case

In its statement, MOF rebutted these accusations.

The claim that the government uses its monopoly over land, and control over demand of land through immigration policies to intentionally drive up land prices and hence boost the reserves, "is untrue", MOF said.

"The government's land sales and immigration policies are not used to drive up land prices, including the prices of HDB flats," it explained.

"It is also untrue that the government is intentionally driving up land prices and prices of HDB flats so as to increase the value of the reserves."

Land sales and immigration policies are not used for reserves management purposes, it added.

The government's approach to land management is based on Singapore's planning and development needs.

The fair market value of land is determined by the Chief Valuer, based on "established valuation principles", and taking into consideration factors such as resale transactions on the open market.

The Chief Valuer then makes an assessment independently, "without influence from the government".

Additionally, immigration policies are not intended to increase land and HDB prices, not are they informed by reserves considerations.

Rather, they are intended to moderate the impact of ageing and low birth rates on Singapore's citizen population, MOF said.

Members of the public can access an article with MOF's corrections and clarifications on the govenment's Factually website here.

POFMA

As of Mar. 15, Jeyaratnam's Facebook post and page have been updated with the mandated correction notices.

He also published a separate Facebook post acknowledging that the government may not "intentionally" increase land prices and the resultant reserve values.

"But that is the consequence," he wrote.

In its statement, MOF noted that Jeyaratnam has "continued to make false and misleading statements about government policies and the operations of public agencies".

"He also has not returned to Singapore to account for his actions, and remains overseas," it said.

It advised members of the public to "exercise caution and do additional fact checking" when accessing information on Jeyaratnam's platforms.

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Top image from MOF and Kenneth Jeyaratnam/Facebook