Courtesy of My Sketchbook (click on picture to enlarge):
Read also: Town councils get graded by the Straits Times.
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What is the scale of GRADING?
A1 to F1 to F9 ?
After scanning the article, whichI quote “Initial checks have shown that TCs do not have excessive sinking funds, a mistaken notion some residents had after some TCs investments in troubled structured products came to light recently. ”
Regarding what is said, I like to ask,
1. what are the initial checks ? What does it check specifically?
2. Who did the checking?
3. The residents concern is really to which FI products have all the monies gone to (the 35%).
4. What is the Criteria to determine what is Excessive or not?
Last but not least, WHY INVEST in STRUCTURED PRODUCTS in the 1st place?
How much is total loss?
grace, do you agree that annual reports do not reply to question 3 above?
Good job. I think the forums discussing Singapore current affairs are proving to be rather successful in slowing down the tendency of the gahman to make a mistake and “move on” rapidly. Lets make it even more successful by pointing friends to this and other related website. They may not agree with the viewpoints posted but will definitely open their minds.
I should say that the mini bond saga is actually a blessing in disguise for all singaporeans, without it, many dirty things are still kept well hidden from the people. . . . . mmmm. . . this one must be god send!
“Initial checks have shown that TCs do not have excessive sinking funds, a mistaken notion some residents had after some TCs investments in troubled structured products came to light recently. ”
Remind me when some clowns told us Mas Selamat may be limping after Mas Selamat escaped for a few days already.
TCs do not have excessive sinking funds ? So what does that means ? Does it means that annual report and financial report are inaccurate ? Who create the report in the first place ? How is it that the government can flip-flop as to nobody’s business ?
Consider that our government love to play with word, I questioning whether the remark “TCs do not have excessive sinking funds” really refers to the remaining balance of the funds after which majority sunk into deep quicksand in the financial crisis.
No worry. PAP will always have A-division team no matter how incompetent and inept they are because there is only two grades for their “face-saving” report card, either A1 or A2.
After the recent fiascos,
I hope the new generation has learnt somethings.
I also think the leaders have to engage the people differently from hereon:
whatever they claim or say has to be accompanied by something concrete and quantifiable else people will ask what do they mean by this and that exactly – quantify and not just qualify.
People have learnt not to take words blindly – people who claim this or that have to write it down on a piece of contract.
Capable people should have no problem meeting this requirement.
This is a change in the right direction and hopefully can lead to Progress.
There was a news article on The Sunday Times (page 6, home) dated 7 Dec 2008, written by Mavis Toh. The title of the article is “How town councils will be accessed” and it it structured like a FAQ.
One of the questions is:
Now, you know why they do not response to the residents’ investment queries.
When you put money with your fund managers to invest, you should be able to get information of your financial positions of your monies at any point in time. If the fund managers cannot do that, why do you still want them to be your fund managers.
So, Ms Grace Fu, not fair to TCs? But is it fair to the residents?
When you put money with your fund managers to invest, you should be able to get information of your financial positions of your monies at any point in time. If the fund managers cannot do that, why do you still want them to be your fund managers. – Joe (#8)
Public companies get around the problem of addressing their latest investment position by producing quarterly reports. Annual reports will do nothing in pacifying the public if the public do not have timely reports on investments held by their Town Councils.
Through out this fiasco, Opposition Town Councils were able to provide answers on their investment positions, not PAP Town Councils, despite the fact that PAP Town Councils have more resources including government grants. Do more resources mean fatter and inefficient management? Clearly, the answer is “YES”.
Can he tell the teacher grading his report card to BE THANKFUL?
That was a good cartoon hahaha.
It make my day here better.
Noticed?
Like with Mat Selamat, and toxic products cases, PM seems to have gone AWOL.
Maybe unkind remark? He focusing on GIC, Temasek losses, and on IR fiasco.
Remember he admitted he cannot “fix opposition” while ruling us.
“Initial checks have shown that TCs do not have excessive sinking funds, a mistaken notion some residents had after some TCs investments in troubled structured products came to light recently. ”
On what basis is the SMOS saying the sinking funds are not excessive ? Please show us the details on how such a conclusion is arrived.
Just because the govt say so does not cut it anymore. After all the stonewalling, you don’t get the benefit of the doubt.
Trust is something to be earned. Once abused, it would take a lot more effort to earned it back.
Initial checks have shown that TCs do not have excessive sinking funds, a mistaken notion some residents had after some TCs investments in troubled structured products came to light recently.
If the sinking funds are not excessive, that means that they are essential to the TC’s activities. So does that mean that the TC has lost some of these essential funds?
you do not need to be a havard bus. grad to know what is risk factor etc. I never buy bond from private companies except bonds issued by govt. which is Sg Govt.
There is a risk of default if the bond issuers default on the pyt.
I could only conclude that we are disappointed with the town council.
Many of my colleagues lamented they are disappointed also.
But when I ask them , “so how?”
their face suddenly turn BLANK. 8)
how about we encourage more people to vote for the opposition and let them win 1 GRC?
after winning this GRC they can show us the report card and voila we have all evidence of how our money has been squandered by these current batch of MPs!
this is the only way to go as these MPs are even scoffing at the online community and taking us for a ride!
17) alternative pappy
I have this wild thought all this while and felt the itch to ask you,
if 100 000 singaporeans ask for the info what would be the scenario like?
Must it always be left to voting to get answers?
i really dunno wor. sigh…
Agree.
anyways, voting is a process that will cost the country some money and it would take too long to wait for one.
There’s got to be a better way to get answers.
Luckily we are 1st world and bombastically transparent .
aiyoyo
recall the local movie once said :
‘kiang teo ho, mai kay kiang’
invest here, invest there (so called sinking fund or whatever those ELITE termed)
must ‘open eyes big big’ when invest ma,
see now the results, how huh?
economic slowdown, jobs still available?
commoners got what benefits or safety nets?
not sure why commoners sinking funds can be returned to tide over tough/bad
times, huh?
aiyoyo
18) Mah Yong Chen
well, if there really are 100,000 people asking for an answer there will still be deafening silence
why are these 100,000 people so afraid to just give their votes to only 1 GRC to the opposition and let us see the financial report that we so desire?
problem is that we have been brainwashed enough to think that singapore will collaspe the moment we have more than 2 opposition members in parliament.
actual backbone is the administration, i.e. civil servants
voting will get u your answer, as we are always told that those whom we vote in are accountable to us, remember who told us this? PAP
better to wait a long time than to have no answers at all n in d end forget all the bad deeds that have been done to us time and again
yes, I agree! its already more than 40 years and I am very tired of watching the same old channel, worst the other 2 alternative channels are down, so why not we subscribe for more TV channels this tiem round.
18) Mah Yong Chen
If 100 000 ask that question but still get no clear answer,
WHAT R U Gonna do?
regards
Palpit_must_cease
yes, the palpit must cease!
LOL!! That is such a great cartoon! And aptly describes the situation.
The only unfortunate thing is that Teo-your-report-card-don’t-look-too-good Ho Pin may not even get a slap on the hand.
Just like WKS, they all get away…. scotfree.
Just a question:
The Report card will be
1. Created by who?
2. Marked by who?
3. What is the scoring based on?
quite amusing comic, can someone send to the stupid Teo’s office? also ask him to open eye wide and ear big and to be more sensitive and aware that people are already crying father mother about how ridiculous things are being run by the existing PAP government
also, ask him to get his broom hair cut nicely … c him on tv make my 42-lcd looks so ugly