YET another privatisation war has started. Last week, residents of HUDC estate Shunfu Ville were embroiled in one, and now it's the turn of Serangoon North residents, some of whom are crying foul over privatisation plans by their pro-tem committee.

In the first mass-signing exercise, on March 29 and 30, residents of the 244-unit HUDC estate will have to decide if they want to go ahead with privatisation. Some residents complained that the pro-tem committee "did not paint a fair picture" of the deal.

Project manager Mr Alan Chng, 58, is one of them. He said that the committee's letters were filled with "so many unknowns".

The committee's letter to the residents, said that they could request for re-painting works to be deferred.

By doing so, the committee said, residents would save $200,000, which is part of the sinking fund that may be returned to the residents when the estate is privatised.

However, the Housing Development Board has the final say.

Mr Chng said: "I've spoken to residents in other HUDC estates and they told me that they don't get their sinking funds back."

He also raised the question of "who will pay the lawyers engaged to handle the procedure".

Similarly, a resident who wanted to be known only as Mr Teng, 58, is worried about the additional costs incurred.

He said: "After privatisation, it takes 18 months before you can go for en bloc sale and during these 18 months, who is going to take care of the estate? How much will it cost?"

However, other residents think it is a wise move. Said retiree Mr Lee who has lived there for more than 20 years: "We bought our unit at a very low price and the property market will pick up again, so we will be able to profit from this."

Of the 14 HUDC estates in Singapore that are for privatisation, 11 have already done so.

Serangoon North, Shunfu Ville and Eunosville are the last three trying for privatisation.