Town Councils gamble away money
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Originally posted by charlize:
It's an honest mistake, let's move on.
next time u make a mistake n kana haul to court, please tell the judge" your honor, it's a honest mistake, let's move on"
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How can it be assured that there will not be even larger losses in future?
Who will guarantee?
If not....................
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Originally posted by likedatosocan:
How can it be assured that there will not be even larger losses in future?
Who will guarantee?
If not....................
Because singapore has the A team.
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Originally posted by january:
Aiyah.. u all dun propaganda lah. The net amount of toen council money is still positive even after the loss. So can dun spread rumors and sway people into opposition or not.
You people always look at the negative side. Typical singaporean. I can see many coffeeshop people also picking fish bones again about govt and town council.
-First, they disclose the news, is honesty liao, so that is a good thing.
-Second, when they made money in the past, so even with these loss, there is still money still, so what is there to complain.
Thirdly, you people say the town council is gambler or corrupt, you all better dun anyhow say. Back with substantial argument. Wait you all kana sue then you know.
If town council got used our money for personal usage, then that is wrong. SO for all kpkb, please provide ample evidence instead of misleading readers... If really for embezzment, then we should really lambast the people involved, if not, dun anyhow complain.
the point is that TC should not even be claiming extra from residents to invest, when they are after all a public service provider.i don't mind organizations like PUB to invest their profits in wadever ventures.
but TCs? no way.
their sole purpose is not to sell us water or electricity. they have always existed to coordinate efforts in maintaining the estate, i.e. hire cleaners, pay the utility bills for the estate.
we pay them just enough to cover their operating cost. they are never meant to be a for profit agency, with a $1bn fund which no one knows of until they disclose the $12m losses.
losses are revealed to us to save their ass, while news of profits are kept silence.
SP power is a for profit company, but town councils are not. thus, it is not justifiable for them to charge extra for hoarding and investing. why do they need the extra money from investment anyway? do they operate like companies, where they need funds to acquire other companies? no. even if they manage to earn extra, the profits made from the "illegally-charged fees" do not go back to the residents in any sense.
the residents are still over-charged regardless of whether the TCs' investment make a profit or not.
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Originally posted by deathmaster:
the point is that TC should not even be claiming extra from residents to invest, when they are after all a public service provider.i don't mind organizations like PUB to invest their profits in wadever ventures.
but TCs? no way.
their sole purpose is not to sell us water or electricity. they have always existed to coordinate efforts in maintaining the estate, i.e. hire cleaners, pay the utility bills for the estate.
we pay them just enough to cover their operating cost. they are never meant to be a for profit agency, with a $1bn fund which no one knows of until they disclose the $12m losses.
losses are revealed to us to save their ass, while news of profits are kept silence.
SP power is a for profit company, but town councils are not. thus, it is not justifiable for them to charge extra for hoarding and investing. why do they need the extra money from investment anyway? do they operate like companies, where they need funds to acquire other companies? no. even if they manage to earn extra, the profits made from the "illegally-charged fees" do not go back to the residents in any sense.
the residents are still over-charged regardless of whether the TCs' investment make a profit or not.
I have 5 questions,sir. First, why did the TC in invested in Lehman-linked structured products without the knowledge of the people? Second, why the president has no say in this? Third, whatever happened to Mas selamat? Fourth, why did the recess bell go off 20 minutes early? And fifth, what the fuck happened to AndrewPKYap?
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大惊�怪。
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Originally posted by seyKai:
I have 5 questions,sir. First, why did the TC in invested in Lehman-linked structured products without the knowledge of the people? Second, why the president has no say in this? Third, whatever happened to Mas selamat? Fourth, why did the recess bell go off 20 minutes early? And fifth, what the fuck happened to AndrewPKYap?
haha -
If you all read "Today's" article which quoted this De Teo Ho Pin telling us to "be thankful" becos of the TC has invested an earn profit (despite recent losses) so we dun need to pay more.
Personally, after reading that, I have this feeling like a robber after robbing a woman and then tell her "be thankful" I didnt rape you.
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Originally posted by Hello Kitty:
大惊�怪。
maybe you are right.nothing should surprised us anymore.
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Originally posted by Mid9Sun:
If you all read "Today's" article which quoted this De Teo Ho Pin telling us to "be thankful" becos of the TC has invested an earn profit (despite recent losses) so we dun need to pay more.
Personally, after reading that, I have this feeling like a robber after robbing a woman and then tell her "be thankful" I didnt rape you.
wahahaha
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I think Town Councils should watch this programme call Life Challengers on Channel 8 on Monday 8.30 pm.
I think that's where the monie should be rightfully channel to.
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"The PAP-held constituencies raised their charges in 2004, by between 2 and 6 per cent. "
...in order to lose the money to foreigners... PAP Standard Operating Procedure... take from Singaporeans, put into own pockets and lose to foreigners... no wonder they say two party system don't work... they will not survive a two party system and will have to stop taking public money, so how can it "work"? If you have a good answer to the question how in a two party system they can still continue to take massive amounts of public money, only then can it work.
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Personally, after reading that, I have this feeling like a robber after robbing a woman and then tell her "be thankful" I didnt rape you.
well said, that why PAP is also regards as despots!
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you don't even bother to find out your own responsibilities??
that speaks volumes...
btw.. ask ask ask.. the same way you MUST ask ask ask the opposition..
you don't trust the MIW but you would trust the opposition?
your enemy's enemy may not be your friend..
you ask.. so you will know.. when you know, you will not make the same mistakes.. and the opposition will be prone to the same mistakes because politicians are all basically self-serving bastards...
if you don't even want to know, you are fated to be taken advantage of by despots in different guises.. and you won't even know it...
your ignorance and your pride in your own ignorance.. and your belligerence speaks volumes...
now.. you rant against something.. but you don't know what.. you only know that some self-serving bastards took public money and wasted it.. what makes you so sure the opposition won't do the same?
sheesh..
your comment i call it " LPPL".
my enemy enemy though not necessary my friend need not be my enemy right?
if you ask someone who never give you the correct answer why bother to ask again? unless you are crazy? im definitely not. maybe u r.
mind you, maybe when you comment politicans are self serving bastards only relate to youself when u or if u become one.
we have all know TC has squandered 12 million dollar? why dont you open the your big fat mouth and tell us something that we dont know from the newspaper? tell me what i do not know?
please be polite when you speak to someone else, you parents could have teach you to be a better person than the PAP. can you?
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Guess I must save and pinch more so that my town council and statutory board can be fund managers.
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to be honest, i dun blame the town counicl for investing the moeny. Like all investment, there's always a risk involve. Else, inflation is just gona diminnish their funds. It is an honest mistake and someone will have to take the fall. We all like to go around witch hunting when thing goes wrong, such is the society we live in. Else, there wont be improvement if ppl think they can get away with lossing million of dollars.
But what surprise me is, town councils are actually so rich!!! 16 with 1b of sinking fund. and that is just sinking fund! Why are we still seeing old women/men sourcing paper cardboard, can, begging on our everyday life? Cant they take like 0.1% of this fund to feed them or provide for them?
sigh... a money driven society leader with very liitle compassion for those founder that once help build the city that they inherited.
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I wonder what is the job of town council and statutory board. To provide services to us or to invest money on behalf of us...
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Originally posted by EarlNeo:
to be honest, i dun blame the town counicl for investing the moeny. Like all investment, there's always a risk involve. Else, inflation is just gona diminnish their funds. It is an honest mistake and someone will have to take the fall. We all like to go around witch hunting when thing goes wrong, such is the society we live in. Else, there wont be improvement if ppl think they can get away with lossing million of dollars.
But what surprise me is, town councils are actually so rich!!! 16 with 1b of sinking fund. and that is just sinking fund! Why are we still seeing old women/men sourcing paper cardboard, can, begging on our everyday life? Cant they take like 0.1% of this fund to feed them or provide for them?
sigh... a money driven society leader with very liitle compassion for those founder that once help build the city that they inherited.
I understand your point and agree to a point.I think if the surpluses are indeed "returned" to the people, people are more willing to accept losses that comes with risks.
The fact that TCs claimed they made much more profit then the losses incurred, then the questions are what happened to those profits and in way what they are used for the welfare of the people??
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Originally posted by ArtBoon:
I wonder what is the job of town council and statutory board. To provide services to us or to invest money on behalf of us...
I wonder too, why are these non qualified people allowed to invest our $$$, aint GIC the apparatus for the govt to do any investment??? -
so there is where our 2% extra gst goes..... for investment.... no wonder the poor need to be help so badly.... coffer is all time low again.... shall we round off the number to let say.. 10%
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Originally posted by Mid9Sun:
If you all read "Today's" article which quoted this De Teo Ho Pin telling us to "be thankful" becos of the TC has invested an earn profit (despite recent losses) so we dun need to pay more.
Personally, after reading that, I have this feeling like a robber after robbing a woman and then tell her "be thankful" I didnt rape you.
agreed. the arrogance and his defensive posture has PAP written all over it. -
and now the stat boards too.
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Here the million dollar question everyone is asking...
If our stats boards and town councils are so farking rich that they can lose millions and that amounts to less than 1% of the "spare change" they have, why are we paying still paying so much tax, GST, conservation fees etc?
Is the government lying when they say they need to increase charges to "help the poor"? Or was it the code word for "I want to play with complicated investments"?
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When town councils and stat board use fund provided to them by the government for public service for investments, is this considered as misappropriation of funds?
Where is the accountability?????
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Singaporeans kena screwed ........again.....