If there is none even from his own TC, you think the rest of the TCs are going to reply?

It has been a while since this issue was raised. Any updates on the number of replies since?

Still no specific reply to the questions raised by the public.

see the oil price down and down (think current <=45usd/barrel)

hope we see our electric bills can also down and down soon..

aiyoyo

I’m just wondering if anybody has asked the non-PAP TC, i.e. Hougang and Potong Pasir, about the way their sinking funds are managed. I think it will do TOC some good to reflect their reply/non-reply as well, if available. The bigger picture here is “How are our TC funds managed?” and not “How PAP TC manage our funds?”

hee hee heee… just kidding…..

What I really meant was

what are we gonna do if they don’t reply us?

This and many many other questions?

This is singapore?

Hope foreigners don’t visit this website and get wrong impression of spore.

“On 16 September 2008, we reviewed and were informed that our portfolio exposure to Lehman bonds was assessed at approximately 0.27% or $120,000 at most through the unit trust holdings. DBSAM had since divested out of the position and as at 30 September 2008, ATC no longer had any exposure to Lehman or other credit linked notes. UOBAM has confirmed that our funds invested by them have no exposure to Lehman Brothers.”

Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15. The very next day, the Aljunied TC had obtained the reviewed results of its porfolio. Shows that they had indeed walked in with their eyes wide open, and that they probably had asked for a review when Lehman was in trouble, that DBSAM was able to revert on the day they did.

So, On 16 September 2008, Aljunied TC’s portfolio exposure to Lehman bonds was assessed at $120,000 at most. Conservatively or optimistically? So, AT MOST, you had $120,000 LEFT. From an initial investment of how much?

Yes, $120,000 was approximately only 0.27% of your total portfolio, but the initial Lehman exposure could have been a few % of your total portfolio, yes?

So, when DBSAM finally divested out of the Leman positions, how much of the assessed $120,000 did Aljunied TC get back? So what was the loss from your initial Lehman exposure?

If Town Councils cannot answer simple questions like these, then focus on your core competency. Stop playing with OUR money. Since you cannot be held accountable, you can not hold the responsibility of managing funds.

I think it depends on what is understood as Disclosure.

Full Disclosure = Transparency.

But what is full disclosure? what is the definition of the definition of Transparency?

something to think about?

Is a Financial Statement = Full Transparency? We need Accounting professional to confirm.

Anyways, to me, a financial statement does not tell me where and how much is invested. It is a very high level document and very summarised. From it, I cannot see if the investment is in High Risk products. I cannot see at what time what transaction was conducted. I cannot see where money gone to or received from who.

But then I am just a layman brudder.

I hope accounting professional or finance profession can step forward and advise us.

last but not least, what does it imply about Singapore and Singaporeans if they do not disclose at the end of the day? Are democrats (citizens of a democracy) responsible for the situation in any way?

Its Time.

“The fear and apathy you highlighted is precisely the reason why we need to break out of this viscious cycle by asking these questions. And if even a handful of people like those who have already sent the letter and notified TOC lead by example and show there are no repercussions to exercising our democratic rights, it will go some way, if only a small way, in dispelling the fear and apathy you speak of.
If we get answers, we are empowered. If we don’t, we have even more reason to keep asking them until they do, until their silence becomes deafening, and finally damning.”

Please read Yawning Bread blog on “The government wants active citizens so that they can harass them” – so why provide them with the full information for potential future harassment. What makes you think they have not started to work on it.

Will we ever get any answers from the TC’s? Your guess is as good as mine.

All they know, is to keep giving us all, Bitter Pills and or ‘Medicines’, while they jac up their salaries.

Sure they keep the economy humming, but humming for who? Are we all humming away and peachy as the years go by?