Thursday, March 3, 2016

Dollars & Sense Calls Out CNA Crap Reporting

Dollars & Sense recently posted a really good article that tackled the very very shoddy reporting of the Bibidari BTO exercise.

The mistakes pointed out my D&S are very common ones made the financially unsavvy, confusing ratios and rates and making assumptions. However, freaking CNA should not be making these kind of very basic mistakes.

A 12.8 oversubscribed ratio means something very very different from 12.8 per cent application rate. In fact, the error is HUGEEE. The reported 12.8% rate is 100 times less than the 1280% oversubscription. That's a freaking huge margin of error. Unforgivable.

The misinterpretation of the 1st and 2nd time applicants was also very well dissected and explained by the D&S team. The CNA article did not highlight the very important fact that 2nd time applicants are applying for 5% of the units.

Personally, I feel rather irritated and agitated that this kind of crap standard reporting made it past the editors and onto the tape. News is supposed to inform people, not misinform them. The author ought to be penalized by doing such bad writing.

I feel that the D&S team has really come a long way from their SCB gaffe a while ago and they are really consistent in churning out quality articles that are very relevant to the local scene. I enjoy reading most of their articles.

3 comments:

  1. Hi,

    If the subscription rate is 1x, does it mean it's 100% oversubscribed?

    ReplyDelete
    Replies
    1. Hi Whowillbe,

      If the subscription rate is 1x, it means that it was 100% subscribed.

      If the subscription rate is 2x, it is 100% OVERsubscribed, or 200% subscribed.

      Delete
  2. Hi,

    I asked because you wrote "The reported 12.8% rate is 100 times less than the 1280% oversubscription."

    Regards.

    ReplyDelete

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