Is WP’s Town Council (AHPETC) BROKE?

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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.

Source – FLOP – https://www.facebook.com/notes/fabrications-led-by-opposition-parties-flop/readers-submission-is-wps-town-council-broke/819100731460566

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