bukit panjang friends tell me

their TC finance chairman (BBM status one leh),

but still got investment loss…

aiyoyo

Read all the comments here
and
tell me
using your most honest words
there is no problem at all.

but if you see a problem,
I hope you take the courage and squeeze out an ounce of responsibility from your heart of stone.

but I stop short at revolt. I don’t want to see revolt here as it would be too painful for our own citizens to bear. The Thai’s had it their way and look what happened to their economy. If mass protest were to happen simultaneously in our back yard…Woe..We get screwed within 3 days just for closing the Changi airport for protest.

Patience my friend. The day will come when all will be revealed. Just hope that when that day comes, our National reserves won’t be siphoned off to a remote bank account already. Remember Ferdinand Marcos?

There are too many skeletons in the PAP closet. This is why they have to cling on to power at all cost. The day they lose this grip on power will see all the skeletons running lose. The PAP has already decreed that this must not happen.

Do you all not realise that a revolt is inevitable if things continue the way it does? It is either this generation or the next who will have to do this. Which will it be?

Still my hope is for this never to happen and that power can be transferred from one to another peacefully, lawfully and fairly.

so many views/concerns here,

not sure if PEOPLE got a chance to review & help advice solutions?

aiyoyo

P.S. I wouldn’t be surprised if they said that everything they (Town Council) did is within the legal boundaries. And even (if) after they have revealed ‘everything”.

1. The actual cost of building a flat is unknown to the public. No one knows!
2. The actual losses of TC is unknown to the HDB leaseholders. No one of them knows!

Everyone who posted here can do only 1 thing : hope for disclosure. But honestly, go to a quiet spot, after lunch, take a deep breath and then ask your inner soul, will you get the answer ?

and there you have it. beyond words can describe.

Of course not, someone or some people are going to keep quiet and keep all the investment profits cos they think you’re not gonna get anything back from SCC anyway.

One word: dishonesty

Nothing I can do but post my thoughts here and wait to see which individuals are to be made into scapegoats to take the rap.

“….For Jurong Town Council, it has not invested in any Lehman-linked products, but explains that it only spends about 18 per cent or S$15 million of its S$84 million sinking funds in slightly riskier products.
Even then, that investment guarantees the principal amount.
The position that we’ve taken is really to be very cautious with our investments because we’re very clear that these are public funds, and therefore we decided to err on the side of being conservative in our investment policy. The public do not have to worry… there will not be enough funds in order to take care of their needs,” said Jurong MP Halimah Yacob. …….”

SO 18 per cent or S$15 million of its S$84 million sinking funds in slightly riskier products which guarantees the principal amount is the KEY MESSAGE. What are they: Equity-linked, Commodity-linked…?

No LB Minibonds. OK, some relief somewhat!

Principal guarantee? Hope so but not until they are disclosed and that degree of transparency I suppose it is much needed.

Hope that they will not turn out to be Principal protect product and in the case of Pinnacle Credit-linked notes series 9 &10, the noteholders who could not distinguished ‘Principal protected’ form ‘Principal guarantee’ shockingly saw their capital went into ashes when the credit event occurred.

“When I invest in a unit trust, I buy into a fund manager’s strategy. The fund manager does not reveal to me the exact allocation of the fund.”

is also irrelevant.

As someone else had said: you have a choice on who’s your fund manager going to be. The residents in a constituency don’t. All funds have prospectus which contain much more information than what the TC’s currently provide. Which fund doesn’t provide its top 10 holding?

However, you’re also right in that knowing how the TC’s invest is pretty much useless when the residents can’t do anything about it anyway. Especially when the residents are generally not knowledgeable about financial products.

If you can answer the question: “What made the residents so powerless in the first place?” (The answer’s pretty obvious) Then you might understand some of the resentment that has been simmering.

=====

I can see that you are making an ANTI-TOC rhetoric , again.
on the contrary, TOC has articles that praise the gov also.
Praise when its due.
Comment when its Time!

You are a sweeping statement machine.

lend me you ears!

maybe we should wait until the economic melting is overs and then ask them reveal the total losses? like this better of nots? the trick now is how long more will the melting be and where is the bottom. if can tahan until then… got me meaning of nots?