TC so $$$,

wa we still need pay $ monthly,

aiyoyo times are tough.

WP writes on its website with its top 2 benefit of supporting Singaporeans?. They are also expecting Singaporeans to support them because:
“If you and other Singaporeans support Workers’ Party, ordinary Singaporeans will have a greater say in the way our lives are governed.Singapore belongs to all of us. It is our home. Political parties exist to serve you. The Workers’ Party of Singapore wants to serve the people and to ensure that the People’s Action Party does not forget their responsibility to serve you. Here is how you will benefit when you support Workers’ Party: i) You will have a voice inside and outside Parliament: Workers’ Party puts pressure on the government to respond to your needs and opinions. The government needs to listen to the people. We make sure you are heard.(ii) The government will be more accountable to you:Workers’ Party is an independent body that checks the government. The government must live up to its responsibilities and promises. We hold the government accountable to you and ensure good governance.”

With the issues of the minibond at the top of their minds for a lot Singaporeans affected by this, where is Low Thia Kiang and Sylvia Lim? Hibernating. LTK gave a parlimentary speech on Employment Act on Nov 18, 2009? Not a word raised on the minibond issue, or the questioning of the accountability of the town councils also involved inthis fiasco.Ms Sylvia Lim is in the meantime doing guest lecture at the NUS Law School back in April 2008. Where is she now? No opinion on this issue? So what has WP done “to serve the people and to ensure that the People’s Action Party does not forget their responsibility to serve you.” and that we are heard? What has WP done “to check the government and hold the government accountable to you and ensure good governance.” Both these key members of WP, who have access to parliment no other have, and yet are pathetic in how they are serving Singaporeans as oppositions. Even the PAP has taken a liking to LTK and praise him for behaving well – like a docile pet?

The SDP has at the least Chia Ti Lik who is addressing this issue. However, since they have no access in parliment, these issues cannot be raised. There is also nothing, not a word from Chiam See Tong of the NSP?

Where are all the opposition when there is a need to speak on issues for Singaporeans.

Thanks, but what I actually meant was ‘for losses incurred by the outgoing incumbent’, not debt.

Mr Low, 57, said he had first brought up the 10-year plan to Mr Goh, who has been given the task to help him win the ward from WP chief Low Thia Khiang. Mr Goh then advised him to show the plan to National Development Minister Mah Bow Tan.”

if $100 millions of those money can help in upgrading Hougang rather than lost in poor investments.

Don’t even bother explaining why the losses occured, it should never have been used at all, in any form or other, than to improve the well being of residents.

This isn’t just a mistake, it’s a lack of any form of control that has allowed rampant misuse of funds without any form of reasoning whatsoever. Even if it was borned out of good intentions to absorb escalating costs, which i doubted, it should never have been thrown into investments without any form of agreement from the people who gave the money.

Another question here is so many ppl in TOC have so many questions about this issue, and why there are no MPs be it PAP or Opposition has no question about this issue!!!

Can anybody ans me?

For once, I agree with our esteemed PM. Furthermore, I think that party need not be PAP.

They don’t make sense most of the time:

1. Mee Siam mai hum?
2. The confounding and highly mysterious Mas Selamat drama & the equally perplexing findings from the COI.
3. The explanation for electricity tariff increase.
4. The prosecution of kangaroo trio by the court – what a productive use of time & resources
5. The use of pictures of Korean beggars for our school text books – no beggars in Singapore, or just taking a swipe at a competitor who’s faring much better, despite allowing her citizens to protest with sweat & blood?

if there’s a lot of surplus money, then make it benefit the residents by stop collecting conservancy charges!

remember, you job is to serve the residents, not keep on burdening the residents and collecting extra money and use it for investment for your own benefit!

can this be considered misuse of money?

I think TOC should dig out more this time with HDB, I believe with the sky high pricing of HDB flats, HDB should have no problem and could easily pile up billions, who knows what shocking thing would start to surface later.

Tks TKL, without him taking the lead , we investors just do not know how to react. The products sold to us are all a con job. Unfortunately,all the people we voted did not even support us when we are in deep shit, instead they add more shit. too bad, they have lost the ground

Let there not be another NKF debacle in the horizon. What the future holds for all town councils is left to be seen. Singaporeans are not what we used to be. We dont keep silent anymore.

Our PM says that singapore is better with just one party running the country. Well it looks like there will come a day when he will have to eat his own words when the sole party thinks that just because its the government it can do anything it likes. Town councils thinking that they are part of this government and have the right to do what they like with the peoples money!

And so a sorry will suffice or so they think. Its one of those things no big deal. Lets move on. But let me tell them that this will not be suffice. You can just go around doing what you like. Time for accountability. Someone has got to be responsible and answerable.

Like OBAMA in America. Its TIME FOR CHANGE. Even in the town councils. The sooner the better.

“It was an honest mistake, let’s move on”.

The opposition parties are missing a golden opportunity to press the government on accountability and what do they do? Nothing.

Please, those of you in the opposition parties, don’t squander this one great chance to show Singaporeans your worth. The Lehman minibond and Morgan Stanley Pinnacle notes issue is one that is worth fighting for. MAS has failed miserably on regulation here. For goodness sakes, take a stand here and act on this issue.

I commend Tan Kin Lian for what he is doing. I wasn’t so sure in the begining but I see what he is doing and thank him for that.

You can check the “Town Council Act”, when different party takes out the town council, all surplus fund from the previous management is transferred to Sinking Fund.

Current regulation means the town council may lose the total investment amount but there should never be a debt situation.

If you think there is a possible debt situation, please explain how it may happen.

You can see the Annual Report (Financial Statemetnt) with two year comparsion of most town councils website for sure. But obviously no break downs. There is a summary row call investments and funds with fund manager. Perhaps in those number lies a piece of the fail investment (of course on paper it is not liquidated). Here is one exampl you can get in. http://www.aljuniedgrc.sg/images/publication/annualreport04-05.pdf

My question is not so much of what has been invested, my question to the authority what were their original intent when it was created. Aren’t there plentiful of investment entities that were linked to government. Aren’t TCs supposed to be just TCs?