Home » Posts tagged with "town councils"
Posts tagged with "town councils"
The TCMR finger-pointing farce
Jun. 19 | Andrew Loh – When one reads what Members of Parliament (MPs) are saying about their performance in the Town Council Management Report (TCMR), it is quite obvious where they stand. “We are not responsible for the low scores.” The Ministry of National...
Confused by S&CC arrears management score?
Jun. 18 | Leong Sze Hian - According to a Straits Times report [1], “Seven [PAP town councils said] they write off only a tiny amount of unpaid S&CC, typically around 0.1 per cent”. The People’s Action Party (PAP) is responsible for 14 town councils. Therefore,...
TCMR numbers show many residents in S&CC arrears
Jun. 11 | Leong Sze Hian – In the Town Council Management Report released by the Ministry for National Development, Hougang and Potong Pasir both scored the lowest in the category for Service and Conservancy Charges (S&CC) Arrears Management. Does this mean...
It’s not about ranking, stupid
Jun. 11 | Andrew Loh – In June 2009, when the idea for an appraisal report for town councils was first mooted, Senior Minister of State for National Development, Ms Grace Fu, said the government’s “move to assess town councils should not be seen as a ranking...
$2 billion in PAP town councils’ sinking funds but need to increase charges?
Mar. 18 | Please support The Anti-Mandatory Death Penalty Photo Project by simply taking a photo of yourself that says you do not support the Mandatory Death Penalty, and sending it to us! It can be as simple or as creative as you want, as long as it expresses...
Why not apply ‘town council logic’ to worker wages?
Mar. 11 | By Gangasudhan This morning a TODAY report (No hike, say some town councils) proclaims that “(r)esidents in at least seven People’s Action Party (PAP) town councils can breathe a sigh of relief for the time being”. Never mind that the...
Sinking funds: From $1 billion in 2007 to $2 billion in 2008
Dec. 21 | Andrew Loh On 2 December 2007, the Straits Times reported a new rule that caps how much town councils can put into higher-risk investments. In the report, it said: This new rule… applies to more than $1 billion in sinking funds managed by the 16...
Dr Teo Ho Pin, where is our money?
Dec. 7 | Dhevarajan Devadas After reading Dr Teo Ho Pin’s second forum page letter, I can only conclude that he is unable to understand what Singaporeans are demanding from him. Dr Teo, we do not want you to waste time “exploring” ways of how...
TOC Exclusive – MP instructs TC Manager after meeting Minister: “We will NOT disclose any further details” on TC Investments
Dec. 6 | Choo Zheng Xi / Editor-in-Chief TOC recently published a template request for information that Singaporeans could send to their MPs to ask their Town Councils (TCs) specific questions on TC investments. TOC reader Roland Soh sent an email to his MP,...
$2 billion over 20 years
Nov. 26 | Over the last two decades, 14 PAP town councils have accumulated about S$2 billion in sinking funds. That works out to about S$200,000 per HDB block in Singapore. There are about 9,000 HDB blocks in Singapore. Channel NewsAsia
Still no disclosure on total losses
Nov. 25 | They refer only to the toxic products and do not include investments in other markets, which have declined significantly in value. There has been no town council disclosure of total losses. Seah Chiang Nee
“Hopefully…”
Nov. 24 | Hopefully things will change in the not-too-distant future and will revive the value of the minibonds. Ahmad Magad, Pasir Ris Punggol Town Council chairman, on his town council’s investments
TOC Editorial: Our money, our right to know
Nov. 20 | Choo Zheng Xi / Editor-in-Chief Where does the buck stop? Minister of State for National Development Ms Grace Fu stated in Parliament that the original rationale of the Town Council (TC) scheme was to ‘devolve’ responsibilities such as financial...
It just makes your blood boil
Nov. 20 | Andrew Loh / Deputy Editor It is hard not to be angry. And be very angry at that. Consider this: On 15th September 2007, according to Channel NewsAsia, the HDB said the following with regards to the new flats in Punggol: … 81 percent of residents...
The silent people’s representative
Nov. 19 | Lim Chih Yang / Writer An elected representative by its very name signifies one who is popularly elected by the people to represent the people’s interest. In the United States, governors, mayors, senators, presidents… etc are all elected by the people...
Bloggers reaction to town councils’ losses
Nov. 18 | But first a quote: Amongst the things you can do, I suggest you study the annual accounts of the town council to ensure that the funds are properly used. Check whether the arrears for S & C charges are piling up, and eating into their reserves. Make...
Breaking News: $12m in troubled products
Nov. 17 | Just like thousands of Singapore investors who have lost money on failed Lehman-linked structured products, the Holland-Bukit Panjang Town Council may lose its S$8 million investment. – Channel NewsAsia. From the Straits Times: TWO town councils –...
“Losses not substantial”? Then tell us…
Oct. 30 | Perhaps it is timely for these TCs [town councils] who have invested and lost in the Lehman products to account for the investment in full – how much were purchased, what is the extent of their exposure, and what they potentially have lost. Singapore...
