Please don’t try and act blur la…we all know you got more paper losses on hand.

Your shares in Creative Technology is one good example.

Something fishy and not quite right.

Such reply will be shot down in many other democratic countries.

Anyway the truth will prevail and by covering up so much this will prove to be their downfall in future.

he just dont get it..in crucial times like this…it’s not just the details…it’s also how he should think before he opens his bloody big mouth…less condescending..more humility and compassion would have save the day…and his butt!

I tot he was the Co-ordinating Ministarfor all the TC in Singapore? How can he not know? If this has happened in a privately owned organisation, he would hav been sacked! What is he taking his MP salary for? People in Holland – Bukit Panjang GRC, is this the kinda of joker you voted into Parliament? Division 1? Sure or not?

Since he is the Chairman of Holland-Bukit Panjang TC, one would expect him to have a good handle on their own financial/investment situation. The fact he “declined comment about his town council”, this doesn’t bode well for the residents served by the TC.

Be prepared for more substantial “paper losses” when the annual report for FY08/09 (Apr 08 to Mar 09) is published, provided this TC still exist next year.

The problem he is facing is not the money lost, its about admitting them, so to play safe, he declined to comment to avoid more agression from the people, hoping that time pass and everything would be back to normal.

He looks honest but don’t judge a book by its cover. If he can’t answer or no comment, then he already lost the trust of the people, so people of Holland Bt Panjang GRC, do you want this kind of sub standard MP?? If the answer is no, please by all means , vote them out in the next GE. Your money will be safe in the hands of opposition town councilors. Moreover, the oppositions TC will not increase your S & C, as promised by Mr Low and Mr Chiam. Even if they increase, it will be gradual, not like pap TC– suck blood.

This is the type of MP we must never ever vote them in again. They are careless, uncaring, stupid and most importantly arrogant to the core. They give you scrap of information at a time and when they deem necessary. Are we beggars or dogs? These good for nothing expensively paid MPs are really out of this world and are so rare you can only find them in this little island called “little red dot”.

Hahahahaha, this is really funny!! I am not sure if you people find this funny too, but the answer he gave is really too stupid, even for a commoner like me!! I am just wondering how could anyone says that he doesnt have the details when the shit just happened. I would believe that the TCs will be burning midnight oil to find out where else have they lost money in & give a full report to the ministers. I am sure Mr Goh is jumping up & down over this matter cos it doesnt make him look too good after his comments about the S&C in the Opposition Wards!!

I just think that this Dr Teo takes us as idiots living in caves & hunting with spears!! Really hate it when these people think we are stupid enough to buy their CMI excuses!!

This stupid Dr Teo should go back practice as a doctor, he is not a good politician. It is just like asking MM Lee where is our reserve going to invest in which banks, and the answer is I don’t know or no comment. Like this it is not transparent at all. If that is the case, mind you please collect S & C for the sole purpose of maintenance only. Don’t ever invest in other instrument if you can’t answer for it. Hokkien says K – Kiang. !! Next time opposition candidates should ask the Pap MPs, whatever you can do for the residents, we oppositions also can do, we can do better, just tell them off, look at their face, they are very arrogant, some more ask us to thank them, pui !! very thick skin, can someone please provide the Holland Bt Panjang TC email, I want to write to them and scold them because they promised to provide service to the residents in the GE, but they failed miserably.

Never has a smokescreen been more blatantly – and pathetically – cast.

Dr Teo Ho Pin is the co-ordinating chairman for all the 14 PAP town councils, for goodness sake! If he does not have the details, then why is he the co-ordinating chairman?

But more importantly, if he does not have the details now, could he not ask for the details? He is the co-ordinating chairman, is he not?

Also, what about his own town council? He is the chairman of the Holland-Bukit Panjang town council!

His excuse that he “does not have the details” is a smokescreen because, even if he does not have the details for all the TCs, he surely will and must have the details for his own town council, right?

Goodness! Does Dr Teo really think he can fool everyone with this mumbo-jumbo of a press release???

Stonewalling. Plain and simple. I think Karl Rove is their secret adviser or something.

Guys, I am a big fan of Seinfeld but I think this Dr Teo beats George, Krama & Jerry pants down with that statement published in TODAY!! Sometimes, these people can really crack me up with their rubbish & best of all, they can say it with a straight face!! Incredible!! When I 1st read that, I was actually laughing rather loudly in the office. The other time I had such a happy afternoon was the report on the limping terrorist escape, that’s another golden moment in local politics!!

Thanks Dr, for bringing a smile to my face on a busy Thursday afternoon & I am sure to many, as well!!

THP, prove me wrong if TCs total paper loss is less than 100 million.

Look at the ST indices, it has fallen about 50%.
TCs’ losses will be at least on the average, 20% of (35% of 2000 million), equal to 140 million. So sad to see that TCs has lost whatever their gain in the past several years.
TCs please get out of the share market.

If Dr Teo doesn’t have the details on his own TC , how could he proclaimed that ALL PAP Town Councils funds were “financially secure”?

I guess his reply sums up the Citizens’ concerns that our money is not in good hands and we are over paying for the TC’s charges. Worst of all, we have to thank him.

Dr Teo’s statement is very contradicting!

Simply flabbergasted. Please, just be a TC and nothing else. Tolong.

By the way, Dr. Teo, if this happens to any corporate, whether you have details or no details, as chairman, you are still responsible. You do not get paid millions (like corporate executives) to say you do not know enough details. You have just exposed yourself that you care little about how the funds are invested to begin with.There is already a serious breach of corporate governance (if there are any existed) and due process. The least you can do is to make a public apology and step down gracefully. Don’t tarnish the good name of your party.

To the ruling party, if you want people to continue to vote you in. get rid of these mediocre caliber runners. Do the right thing please.

ITs CLEAR friends, singaporeans are shy to put down their ID on petitions.
I do not blame them.

What we need is ALTERNATIVE Ways to get the same effect.

I hereby propose the following, so hear me out:

1. Hold a HDB Leaseholders’ Referendum at a place near the TC or HLP.

2. All families will be sent either personally or via registered mail a serialised piece of ballot. 1 member of each family only need to cast the ballot. Each serial number uniquely identifies a family.

3. The family representative gets consensus with family members and makes a decision – Yes / No to want TC to disclose its investments.

4. A credible security firm will be hired to ensure security in the whole process and no cheating can be performed. An Accounting firm and law firm shall be hired as well for the ballot process.

5. On day of referendum, the HDB Leaseholder representative shall queue up and cast their ballot. Thus, no one knows who casted what. The ballot does not contain names but serial number.

6. TC will be presented the ballot result with all signatures of everyone who casted the ballot will also sign on papers to prove that they have casted a ballot (still no one knows what decision they made!)

Ladies and gentlemen, there you have it. The most bombastic solution that is SHY-PROOF custom made for the one and only unique singaporeans.

Yes, this may cost some money. But I do not believe it will be too much. And maybe can take from some Funds to pay for this? Or maybe public donation via internet can be practical solution.

Thats all folks! my 1.9 cent. btw, this is just my 1st draft , idea comes from the air instantly and spontaneously. feel free to make this a open source idea that all can improve on. Please comment!

Our famous accountability as work again. We are told it would take 50 years to account for our reserves and the MP does not have the details of his own GRC investment. When who then has the details of all our money and where it is. 40 years of saving and looks like its all going to dissapear in a few years.

Imagine u contribute yr s&c charges to someone who tells u tat he does not hv the details on how those fund r being invested. thinking of tat makes me chilled.

Maybe we should think of a movement to persuade Singaporeans not to pay their S & C fees till answers are properly provided by the authorities.

They can charge us with legal fees but if we have ten of thousands who don’t pay how many can they drag to court?

One simple truth.

Pay them so much money to get a ‘no comments’ answer….

WHAT IS WRONG??

>>Dr Teo said that he did not have the details of their investments and declined comment….

Sigh…maybe he’s ALSO only a lorry driver

If I’m the lorry driver (delivering) goods to your house, and you ask me how come the (price for) a bag of rice has doubled, I can’t explain to you.

I am blind to vote Dr HOpeless in the Bt Panjang ward. Should have voted Mr Ling How Doong in to parliament.

Just read the news abt Dr Goh Keng Swee’s stewardship of finances by stressing “its the taxpayer’s money” over a tissue paper. This shows how much PAP has changed iver the years. Previously, they were very careful abt the ppl’s money, but now they are such a spendthrift. Just witness the number of footpaths in any HDB estate,and you know why. Do we need to build a footpath for every shortcut that someone took.

This is a common feature of any entrenched party that has too much power. They become complacent and out of touch with the ppl. We can’t do anything but watch them slowly drive singapore into abyss.

>>I am blind to vote Dr HOpeless in the Bt Panjang ward. Should have voted Mr Ling How Doong in to parliament.

Dr HOpeless: “Don’t talk cock”… :)

27) cy on November 27th, 2008 7.07 pm Just read the news abt Dr Goh Keng Swee’s stewardship of finances by stressing “its the taxpayer’s money” over a tissue paper.

cy – it would be great if you could provide some context to this case study…i;m interested to read about it. thanks!

see the online citizen “elsewhere on the net’ today’s article on ex-dpm wife speaks out

i highly recommend Dr Goh keng swee’s biography by his daughter-in-law, this is the type of leadership that we are missing today

More smoke and mirrors:

So if there are more losses from the sinking fund, one must assume that,to meet future requirements, the amount that they may transfer from the the annual council operating fund will be MORE than the MIN that the law requires ( note that there is no restriction on MAX allowable )…..unless govt grant is increased. Hence with a possible shortage of funds for normal maintenance , S&C charges will have to be increased ,

And what warp logic for putting more money into fixed deposits , now that there is a govt guarantee…as the implication is that without this guarantee ,it would be riskier than putting money into structured instruments !!!

“Our lives begin to end the day we become silent about things that matter.”
– Martin Luther King Jr.

21) SAD on November 27th, 2008 4.12 pm
Our famous accountability as work again. We are told it would take 50 years to account for our reserves and the MP does not have the details of his own GRC investment…..
——————————

Dear SAD,
I have become you. I am sad also knowing from you how long they say it will take.

Questions :
1. Does this not tell us that we should start the work of auditing the accounts now? This can give a lot of fresh Accounting graduates some work to do and lower UnEmployment rate.

2. Does this mean we should wait for something or someone to do something about the problem? since they say it takes so long, we should acknowlege that this is a problem in itself.

3. How long ago did they told us that it will take that long? During the olden times of of honorable late Mr Ong? If so, since then, is it not correct to say that EVEN MORE accounting has taken place? Even longer it will take?

4. Who can prove what is said is true about how long it will take? Does the reason that something will take long time to do mean that thing SHOULD NOT BE DONE? I hope we can look at things in perspective and objectively. Not doing it does not mean it is right as well! Wait until who take over? Truth will have to come out one day.

How I hope to hear comments from Mr Tan or Mr Leong on this matter. They are the experts in these sort of thingies.

So, am i right to say the 1st world solid bombastic singaporeans have not talked about this matter since our late Mr Ong spoke about it?

Like this how? Lets not run away from the issue. It has to be dealt with headon.

It is my personal conviction that if
we can get full disclosure of the TC accounts alone,
this would have BROKEN a SINGAPORE Record.
Why?
Nothing like this has ever been achieved in our history.

This can be a BIG signal to all singaporeans that CHANGE is possible.

We have a long way to go still.

If the majority wants it and each put in some effort, I believe no obstacle will be too big to conquer.

Divide and Conquer. Lets focus on Alternative ways to get the same effect as petition which offers no Anonymity.

If we cannot conquer this obstacle, there is not hope in conquering other bigger obstacles.

yours
Barney Meh

We the HDB Leaseholders,
should not complain too much.
We the HDB Leaseholders,
Must also hold ourselves some Responsibility in this matter.
For donkey years already, we have not uttered a word on the need to disclose
how our money is used by our Custodian.
It takes 2 hands to clap.
Lets admit that we are partially responsible also.
Its TIME!

Our folks has made a very big mistake into believing they will be taken care of when they grow old and not only did the elites lied to them, they even trapped all their entire cpf life savings so that these folks are unable to retire and out of fear, they continue to work their arsses out just to be screwed further till today. So, the question is what are we going to do now for oursleves, for our childrens and for our childrens’ childrens sake? stay put and nothing will ever change for singapore.

Leong Sze Hian should be his sidekick as the deputy President. gotta give credit to Mr Leong as well for exposing the big truth of our town council’s sinking funds and SC charges rising up higher than inflation

I seems to unable to locate the FY07/08 report for holland-bukit panjang TC, anyone has any ideas where it is?

34) Yang Chen Ling:

Actually we don’t need to depend on TKL or Mr Leong to raise this issue for us. All of us have the right to do so at HLP as now it is a legal ground for protest.

We need more people who are passionate about issues that affect us to stand up and be counted. We need more TKLs and Mr Leong to come out from their homes. I am not saying they are not effective but we need more people like them to take the lead.

I will take the lead if I am in Singapore now but sad to say I am overseas now. Many Singaporeans worldwide are logged on to this site as even when we are abroad, our heart is veruymuch at home. We all love our country too much for it to go downhill like this.

I bet that if someone here annouce that he is willing to lead this TC protest at HLP, many people will turn up to support. Am I right Singaporeans?

If Singaporeans continue to grumble at the govt as netizens, I am afriad that we won’t go very far advocating for change.

If you do it, it is for your children and children’s children as Tiredsingaporean has aptly mentioned earlier here.

hi Gilbert, I had the same thought about protesting by withholding payment for S&C Charges, but then again, it can be daunting for the average guy if he’s expected to deal with a lawyer’s letter. I’d the privilege of being slapped with a lawyer’s letter over something else and I don’t think it’s everyone’s cup of tea. Furthermore, unlike minibond investors who risk losing everything unless something is done, hdb dwellors risk paying more than their appears if they don’t pay up now. Unhappy as people are, how many would actually do this, or even show up at an organised protest? We differ largely from South Koreans in this aspect.

Perhaps we should petition to the opposition MPs, NMPs and even the President. They represent the people, don’t they? Have them present a proposal to the Govt that no S&C charges to be collected until an independent COI has reviewed the issues surrounding the town council’s collection and use of our monies, and made recommendations. If this doesn’t bear fruit, we can consider something more drastic.

Divide and Conquer. Lets focus on Alternative ways to get the same effect as petition which offers no Anonymity. If we cannot conquer this obstacle, there is not hope in conquering other bigger obstacles. – Barney Meh (#35)

Good point. If Singaporeans can’t overcome anonymity and climate of fear, there will be no change in Singapore. Overcoming the climate of fear has to be done by both politicians and electorate.

typo in my post no. 41: should be arrears instead of appears. Sorry about that :P

aiyoyo

since made loss in investment ‘lehman brother’

be open la…

now more worry if got more loss made or not, scared scared…

then how to overcome the financial downturn, how??

not sure we comment/give our views here, got PEOPLE see or not huh?

Dr Teo Ho Pin,

I am a resident of Holland Bukit-Panjang Town Council. Please explain how you can retrieve the millions our town council has lost?

Our government always prides itself on having the top people run singapore. They always advocate that they have to pay them high wages so as to prevent corruption. That to me is utter rubbish.

Now with this town council debacle we can clearly see that thepeople in charge dont seem capable and seem cocky when asked about the finances and losses. So the government seems to have failed in this aspect.

It does mean that if you are put in charge of the peoples town councils and have acess to the finances you are not accountable. Looks like the pandora box has been opened and there will be more to come out and be revealed. If the people in charge of town councils dont feel that they are suited to run them , then step down and depart into the sunset. You or any of us are not indispensible in singapore. No one is except only one. You know I know who lah.

Is Dr Ho saying that his TC just gives monies to the RM or Fund Manager without holding his TC accountability.

‘It’s an honest mistake, let’s move on’

‘We are vulnerable to external world situations as we are a small country, there are leakages. (btw, still trying to find PM Lee’s such comments in TOC) When we are successfully, it is because of our right policy, build the correct infra-structure. But when we failed, there are factors beyond our control’. Sound familar? The sole proprietors or owners of small business lamenting “we are small companies subjected to M Porter’s forces which squeeze us, bankers don’t listen to us, our distribution channels don’t support us. etc etc”.

But do all these sole proprietors and owners get to earn millions of dollars continously for 5 years or even success years on 2nd terms, to 3rd…. (US President sits only for 2 terms.)? But our ministers do. So I have higher expectation in quality of judgements, responsiveness and decision making, ownership, accountability, etc.

In reponse to 14 Lim Peter, does Dr Ho know how much has the TC been investing and lost in our local market since probably the toix products are too far away, geograhically or financially?

This guy still has a career ahead ?
You don’t get paid hefty sums to stand in front of everyone and say you don’t have the details for such a large amount of funds when facing investment queries and details. In fact, even before the public opens their mouths, you are supposed to clear up the entire picture. Looks like you’re (at least) 2 levels lower, not Division 1.

This is a very serious issue, it just gives me the creep that gahmen even MPs have no idea of financial prudence. They are just like Wall Street executives, risk taking at the expense of shareholders and taxpayers. Greed has made them blind. I am not sure if Dr Teo really is ignorant of the investments but i am very sure he is wanting high returns from TC investments in risky products. Can he deny he never know? All these act ignorant stuffs is giving me goose bumps all over, it really frighten me what is going on with the authorities who seems lost with all these investments losses starting from GIC, Temasek and now our very own TC. A true leader will step out and admit the fault and resign gracefully. I think we elected boys scouts not leaders.

Hi everyone,

A preliminary update on the letter to the town councils.

So far, 18 people have sent the template email to their town councils. (These are only those who have cc-ed their email to TOC. Some others have sent it on their own but we can’t confirm them as they’re not copied to TOC.)

Out of the 18 emails, only one have received a reply from an MP.

We will update readers in an article on Tuesday – one week after we published the call for readers to write to their TCs.

Meantime, we hope more of you will do the same.

Thanks.

Regards,
Andrew Loh

Logicalman:

YA it pains me to see that we can’t do anything even when we feel that the system is faulty.

This is our fault as the country has given them this mandate to rule over us. We have no one to blame but ourselves.

They will tell you that it’s your fault as you have voted for us all this while and I have given you first world status, highest GDP in SE Asia, clean and corrupt-free govt, reserves of up to $300 billion, No 1 airport in the world for well over ten years, best port in the world for well over five years, best place in SE Asia to do business, highest lteracy in SE Asia, highest home ownership in Asia, and many other world accolades. What more do you want from me?

Without the ruling party, your wives and daughters will becaome maids overseas, you will drink water from the river and harvest padi off the land.

I agree with many here that there is a deep seated problem with singaporeans.
If we can get full disclosure, then history has been made.

I hope we can.

CHANGE is possible – but only if the people wants it.

regards
Ashamed sporeano

“When asked if town councils might lose more money from their other investments, Dr Teo said that he did not have the details of their investments and declined comment about his town council, Holland-Bukit Panjang.”

If Dr Teo did not have the details of the TC investment, then why is he handling 14 PAP TC under his care. And actually what Dr Teo doing? That means all 14 PAP TC does not report to Dr Teo as their chief, then why do we need Dr Teo in the first place. 14 PAP TC can do what they like without let their so call head know.

Dr Teo, please think properly before you give your talk, Singapore Citizen are asking you a definite questions, at least do your part to look into the matters and explain back to us and not push away our question by saying this kind of statement of not knowing the investment detail and decline to comments.

I think we should give him a break.
I think we should just ask him the reverse question.
teo, if you cannot disclose,
convince the electorate, the WHY. W. H. Y.

why why tell me why the sky is so the high?
no , not this question.

The question is if you cannot give direct reply, please tell us why you cannot give direct reply. So, am not asking for disclosure. Am asking the Y.

Who is Responsible and or Accountable ?
Who is not Responsible and or Accountable ?

Any answer to the above 3 questions would be greatly appreciated.

regards
the person who holds himself accountable to Pay and Pay the S & C C

The longer this government stays in power…
the more they will screw up things, and generally make bad investment moves losing more and more Tax Payers money.

They don’t get it don’t they?
People DON’T just want ‘changes within the PAP…’, they want them REPLACED.
A less kinder word – FIRED!!!

I hope that this is not another case of NKF being unfolded.

I think an independent audit would prevent further damage. If they come out clean then they would gain back some confidence of the people. If they come out “dirty” then things can be fixed up sooner than later.

aiyoyo

is this webpage being made known to all singapore people?

aiyoyo