If you have further comments to the post QT Meeting with KB on Saturday you may post them here.
We are happy to present additonal data on the lease, available from SLA:
* Cheviott Hill (East Coast) 3+3+3 yr lease
You may verify this from http://www.sla.gov.sg/doc/ser/TenderAwardList(2004).xls
62Kpm x 12 = S$ 744K annually
Area: 7322 sq.m.
Tender closed Sept 2005
* Balestier ? Jalan Rajah - Former Moulumein
You may verify this from http://www.sla.gov.sg/doc/ser/TenderAwardList(2005).xls
Tender closed Aug 2007
Area: 9094 sq.m.
170K pm x 12 = S$ 2.04 million annually
Caution: This figure is not from SLA but from Year 2006 Estimate
Approximately = S$ 1.29 million annually
The above given figure for Queenstown agrees with the excellent analysis by ' KB-PG MEETING ANALYSIS-I' in the previous post.
Lease expense as % of revenue: The credits during Year 2006 for QT Campus were approximately: S$ 9 million (Tuition Fees) + S$ 3.9 million (Refundable deposit) + S$ 1.14 million (Registration fee). Even if we ignore the refundable deposit, the rental/lease is only coming to at most 13% of revenue when taken as 1.29/(9 + 1.14) . In actual fact, it is even less, the 10% figure offered by the said commentator is likely to be more correct.
So, a 60% increase on the 10% part, should be a 6% increase, as already argued by the said commentator.
Parents, please send this blog page to GIIS/GIF and request their response even though it may not be forthcoming.
We request each parent, to ask 5 other parents who have not yet voted, to vote without delay, after reading the facts and analysis.