The interesting thing is as far as we know is that they have not tapped into any of the EDB grant money that we can see from the financials. Mind you the amount allocated for wages can quickly be used up whenever they bill.

One of the conditions they are required to meet: 

By Dec 31 2018 establish in Singapore a research and development team comprising at least 53 researchers, scientists and engineers (RSE), and maintain this until the end of the qualifying period.

The way I read the contract is that they can begin billing right away as of the start of the contract up to 70% the value of the contract with the last 30% available at the conclusion.

S$2,880,415 Salary to local Singapore Citizens/Singapore PR’s (50% of salary).

S$253,099 Salary to Foreigners (30% of salary).

S$31,554 COLA, Airfare & Training.

Total = 3165000 Singapore Dollar equals

2331663.79 US Dollar

It should be noted that they can bill at 3 month intervals if they wish to but I don't think they have even started using that grant money?

Hopefully this post will not be considered an inconvenient truth or whatever it is that is occupying people here on this forum today.