Comments on: “Losses not substantial”? Then tell us…

By: one day

one day — Sat, 01 Nov 2008 08:41:36 +0000

wah town councils return all our money!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

By: anonymous

anonymous — Fri, 31 Oct 2008 05:54:11 +0000

The Town Council that “invested” in Creative Technology owns so many shares that it is listed among the very top twenty shareholders of the company. See p15 of the Supplementary to Creative’s Annual Report 2007 which is freely available on the SGX website: http://www.sgx.com
or you can zoom straight in to the above cited document at url:
http://info.sgx.com/listprosp.nsf/4f925e50089e98bf48256dad001425f5/b2e2977b1807b43f48257370003518eb/$FILE/Creative.pdf

By: one day

one day — Fri, 31 Oct 2008 03:57:23 +0000

which tc is it?

ask them to own up and you be the witness.

By: anonymous

anonymous — Fri, 31 Oct 2008 01:19:18 +0000

Why single out only Lehman losses? One Town Council has made huge losses on speculation of Creative Technology shares which have plunged 90%. Should the ordinary residents or the TC bear these huge losses along with many other losses?

By: one day

one day — Thu, 30 Oct 2008 15:00:56 +0000

i think i will not tell the truth also if i am the head and has a family.

By: one day

one day — Thu, 30 Oct 2008 14:59:06 +0000

now i understand why the government want people to get married and have children and a family.

this is because as a single person there is much less concern and he can do very extreme things like telling and admitting all the truth.

for example the head of the bank or head of town council can be a real hero by letting out all the truth if he is single.

but if he has a family he will not do it as there are concern about his family as well.

By: tiredsingaporean

tiredsingaporean — Thu, 30 Oct 2008 14:19:17 +0000

When make money they keep quiet and reward themselves, when lose money they make us all their scapegoats, wonder when all these illegal practises will stop. Care to let the people know how many of the poorer singaporeans your TC had already taken up to court so far for not being able to pay up their SCC charges. And stop giving the same excuses that the TCs would not be able to function without collecting all the SCC charges due when you have so much $$$millions in sinking funds just to throw them away into investing in private properties and other equities. Who initiated or authorized all these illegal practises? care to share with the public? I am sure that if such practises are being discovered in any of the private sectors, such incidents would already been reported straight to the CAD and a jail sentence would lightly be the case in singapore.

By: blade

blade — Thu, 30 Oct 2008 13:49:39 +0000

i was shocked when i heard the news. has our S&C unable to cover the functioning of the town councils that they have to resort to investment for returns to cover its expenses?

but since TC has the money for investment, does that mean that there was excess fund? If so, why not reduce the S&C, to return the money back in the residents’ and let them decide what to do with their own money?

By: alky

alky — Thu, 30 Oct 2008 13:12:04 +0000

Since when has investing for better returns become a core function of a Town Council? This should be the objective of a pension fund and not an estate management body. All this points down to greed for more money. Something which has been constantly ingrained into our minds by our society.

And I wonder which party is the cause of it all….

By: Fever Guy

Fever Guy — Thu, 30 Oct 2008 12:58:40 +0000

To the reckless Town Council management who loses a “minor” portion of the sinking funds to toxic investments, please do the RIGHT THING as mentioned by PM Lee. Be responsible and transparent about the issue. Show the books and if the loss is small there is nothing to be shameful! By not disclosing the losses, you guys are shameless and gutless!!!

By: DP

DP — Thu, 30 Oct 2008 10:28:26 +0000

“Trust them, you money is in safe hands”, Just like Selemat was, judt like your money with DBS was. For a country prided for its transparency, there hell of a lot we people do not know. Because we are deemed to dumb to understand and that’s proven every five years.

By: Internet mouth

Internet mouth — Thu, 30 Oct 2008 10:25:06 +0000

This kinda of new is like “right in your face” it won’t go away and with the internet exposing all kinds of comestic writeups, it will only serve to enlighten and awaken people from the years of slumber.

TOC keep up the good work for having this platform.

By the way, does anyone know who made the wise decision to invest our money ? Mat Selamat ?

By: GoodSingaporean

GoodSingaporean — Thu, 30 Oct 2008 09:33:43 +0000

cummo show your book!! Dun just used mouth said only minor lost!! this is our $$. TC dun show mercy when you dun pay them, just 2mths outstanding they will sue u till your pant wet….then wat the rite do they hv to lose our $$!! Show us your BOOK!!!! Remember our GCT asked the Hougang Opposition to show book, now it time for the public to see their book…dun hide!!

By: sarek_home

sarek_home — Thu, 30 Oct 2008 07:55:44 +0000

It may not be substantial to them not to the ordinary citizens.

By: grognard

grognard — Thu, 30 Oct 2008 07:55:19 +0000

Are town councils allowed to invest in stocks and shares? If so, they will lose money, Lehman Brothers or not. Why single out this investment for special review?

By: Daniel

Daniel — Thu, 30 Oct 2008 07:40:35 +0000

Las Vegas Sands Soars 80% After Talks With Singapore Government
“http://www.bloomberg.com/apps/news?pid=20601087&sid=agVz68rha4iA&refer=home”

Another bail out by our government ? It obviously a “bail out” though the words are not there. Bail out is a taboo words now given that our government lost billions trying to bail out old and sick banks.

By: Daniel

Daniel — Thu, 30 Oct 2008 07:35:04 +0000

““Losses not substantial”? Then tell us…”

Can you handle the brutal truth ?

By: Sgcynic

Sgcynic — Thu, 30 Oct 2008 07:22:36 +0000

Transparency and accountability

By: Not 100% safe

Not 100% safe — Thu, 30 Oct 2008 07:08:13 +0000

When TC suffered losses in the LB investment, where to get more money…very soon the conservancy charges will go up.

By: Singaporespirit

Singaporespirit — Thu, 30 Oct 2008 06:59:57 +0000

Obviously, Town Council will do nothing. The reason is that no pain , no personal life savings are involved at the first place. Borrow a phrase from PM Lee, “We, Town Councils cannot guarantee you 100% the investment is safe.” We lost it, that’s life. Let’s move on… There is a technical recession to tackle…