AHPETC Saga – Reader’s submission… “Is WP’s Town Council BROKE?”
I have been following the Aljunied-Hougang-Punggol East Town Council (AHPETC) court case over the past few months because I am a resident there. Frankly, it was more a matter of interest than anything, because so far, nothing seems amiss on the ground. But the facts that have since surfaced are a little hairy, and I felt that there is a need to raise them for everyone to have a think through.
There are 3 key issues:
#1: Sylvia Lim promised to pay, but the Town Council (TC) never did
When AHPETC’s own accountants Foo Kon Tan found out that AHPETC had not paid monies into the Sinking Fund ( http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=5127&category=Press%20Release ) , Sylvia Lim said it was an “oversight” promised to rectify. ( http://www.singapolitics.sg/news/workers-party-responds-town-council-finances )
But guess what? The AGO went in and found out that the TC hadn’t actually paid at all. In fact, the FY before, the TC hadn’t paid either. (http://app.mnd.gov.sg/Portals/0/01%20Main%20Report.pdf – clauses 3.5, 5.3, 5.4a, 5.4b )
So the obvious question is – what happened to the money??
#2: Later, Lim told Parliament the TC had already paid, but it had not
In Parliament, Lim declared that the TC had since paid into Sinking Funds the amounts that AGO said it had not paid, and that it had since been complying.
Unfortunately as we have read in the reports so far, this is false. The amounts were not fully paid for the last two quarters of the year.
#3: Lim says the TC has enough money, but actually it does not
On March 27 this year, at a closed-door court hearing, Lim said that the TC had sufficient funds for “the next three months” – that is, until June 2015.
But a month later, in an affidavit dated April 17, she said this was “premised on them not making sinking fund transfers”. ( http://www.straitstimes.com/news/singapore/courts-crime/story/workers-party-run-town-council-has-enough-funds-till-june-and-miss )
So her statement to the Court that the TC has sufficient funds until June is not truthful. (http://www.channelnewsasia.com/news/singapore/ahpetc-court-hearing-mnd/1823862.html)
By law, these transfers to the Sinking Funds are to be made quarterly. They are already two quarters late. How can they be said to have “enough funds”? How much does the AHPETC owe to the Sinking Fund? And how will it be able to pay?
These facts are worrying. Firstly, it seems that the Aljunied Town Council is bankrupt. Secondly, it seems that the people running it have run afoul of the law. Thirdly, I think their arguments in court shows that they feel they are above the law. Add the untruths above, I think we are in serious trouble here.
#Overheard
Emily Chew Imagine that last election opposition won 40% on the seats we’ll be in shit now. 5 years is enough to crash 50 years effort. Scarely.
Sundram Subramaniam Wp means wayang party.residents in aljunied grc,hougang,punggol east is very disappointed.MPS in the area is very disappointed they are not speaking in paliament. Coming ge pap is going to take back the seats.
Sim Buey Tan So much gone overnight?? If they rule Singapore.End of the World
Chee Leong Tan In Singapore, supposedly well educated voters are actually ENCOURAGING incompetence and unaccounability, just for the sake of ‘more alternative voices in parliament’.
What a joke we are.
Agnes Sim Singapore reserves is concerning my life and yours. I hope that the next election, peeps k vote wisely and not emotionally.
J’van Chia Just 2 best words to describe them, NO INTEGRITY!!! Please account to us, Aljunied GRC residents where have all the money gone to!?!?!? From surplus to deficit!?!?!? You are damn incredible!!!
Sundram Subramaniam WP where is the money.9
Qiu Yung I wonder if they had paid the privatised HUDB estates the sinking fund due to them. If they have not, then I’d say that AHPETC is as good as bankrupt.
Joseph Tan Broken promise by WP, hurt residents.
Lee Greg My question is, at the point in time, where were money that were supposed to go into the sinking fund? Is it sitting in the TC’s bank or somewhere else? More so a forensic investigation must be conducted. Just as an example: You know, many cashiers carry ‘float’ money. When they are broke, they take the ‘float’ money to use and put it back later. So, there is no loss. On a larger scale, they lent it to Ah Long for better interest rate and pocket the interest for themselves and later put back the money. So there is no loss. Forex exchange is another area that can be manipulated. The list goes on. See, how clever these cashiers are. They are usually caught during surprise audit check. But if the auditors are in league, God help the company. It is not easy to unearth these malpractices and only experienced investigator will have the knowledge on how and what to look for.
丽霞卓 Actually where the money goes to?
Andrew Chua Where else but their friends in FMSS. They made gains and caused losses through very dishonest means.
Kelly Yeo Serve Aljunied ppl right. it’s their choice.
Ngiam Zhenwei I don’t think its fair to call them a fraud, while they ain’t the most competent, i do believe they ain’t dishonest. This is simply a case of extremely weak corporate governance and internal control.
Ng Seng Chong and they WANT to run the whole of S’pore , Zhenwei ? Aiyoh, those Aljunied voters……sad indeed !
J’van Chia Kelly & Seng Chong, what you have said is not fair to ALL Aljunied residents. Take me for example, I wanted & still hope Goerge Yeo is my MP.. NOT ALL Aljunied residents, thank you.
Patrick Un WP must learn from UMNO ,
” We are not corrupted , only issue we paid more for the item ” !!!!!
Hahahaha suite WP working style !
Sohibo Netads I not disappointed, so much info how about AIM and others, when Pap was in charge, when they lost the tc funds in investment
Chua Teng Thiam They lost in investment. Black and white. Yup. Bad outcome but it wasn’t intentional. BIG difference.
Jennie Goh Still talking about AIMs? Nothing else to say? AIMs is not a TC. It is a software.
Lester Loh They will bankrupt Singapore’s Reserve if elected into government
Petrus Ong This is VERY SERIOUS! ! If AHPETC is forced to put back what is supposed to be in the sinking fund, AHPETC would be BANKRUPT NOW!!
AHPETC residents would have to pay cash from their own pockets to have their rubbish cleared, pay cash if their lift breaks down, pay cash if their surrounding areas need to be swept clean, etc, etc!!
It is surprising AHPETC residents have not marched to confront WP at their HQ banging tables and demanding answers on where all the money has gone!!
