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MND Press Statement on AHPETC

Camrysfa

By Camrysfa,
in Lite & EZ

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Kxbc

Kxbc

Turbocharged

 

Who's the accounting firm hired to maintain the accounts? Only they know best the background of this audit issue.

 

I doubt LTK or Sylvia knows the technicalities. So lets wait and let the accounting pros sort this out. No doubt the buck stops with LTK, but let's see the end results.

 

I don't think the ext auditors issued an adverse opinion. Just that they lack sufficient evidence to issue an unqualified one.

 

I just dun like MND jutting in and issuing a newpaper pronouncement that sounds as if this Aljunied GRC committed a crime. All ministries are apolitical and should not work for the interests of a specific political party. Now PA and MND shows they are nothing but stooges of the sour losers ..... [shakehead]

I am not sure if the article mentioned anything about the book keeping being outsourced to an external party but even if it is so, the responsibility of the numbers is on management, similar to any pte ltd, public listed co etc. eg if one of he accountants in your co messed up the accounts, the CFO and CEO have to be ultimately responsible for the mess to the BoD. In the background, they can penalise that accountant but they still have to face the Board's wrath.

 

And in this case, it is the TC's overall responsibility, regardless who manages the numbers and accounts. Complicating the matter is that this TC is in a WP GRC.

 

Slyvia has a law degree. LTK is a businessman. They surely understand the importance of proper accounting and the implicit implication of improper management of the TC to the standing of WP. I would think they were caught offguard as well. Likely scenario is that the TC must have been told to buck up after 1 year of adverse opinion but unfortunately, they didn't and prob never forewarn the WP chiefs as well. Which sane political party would want this played up by the other parties for political mileage? I would think not the WP which is so far, the only sane and credible opp party in recent years.

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Kar_lover

Kar_lover

Supercharged

can someone explain to me why is there a need for TC to do investments in the first place?

 

Cos bank interest rate too low. So as the keeper of the service/conservancy fees they collect, they have to try to maximise it by investments. Of course the question then becomes what if lose money? So it's up to them to balance out their investments to have a mix of some lower risk and some higher risk, the proportion of which will depend on their risk appetite.

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Knoobie

Knoobie

Supercharged
(edited)

 

Cos bank interest rate too low. So as the keeper of the service/conservancy fees they collect, they have to try to maximise it by investments. Of course the question then becomes what if lose money? So it's up to them to balance out their investments to have a mix of some lower risk and some higher risk, the proportion of which will depend on their risk appetite.

In other words, the TC will collect money from residents in their zone.

 

then use it to gamble. if tio, TC huat! but never translate to residents. if lose, paiseh S&CC got to increase.

 

what kind of bull shit is this...

Edited by Knoobie
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Kar_lover

Kar_lover

Supercharged

In other words, the TC will collect money from residents in their zone.

 

then use it to gamble. if tio, huat ar. if lose, paiseh S&CC got to increase.

 

what kind of bull shit is this...

 

Investment = gambling?? [hur]

 

When investment lose money they increase S&CC? Then they must be damn good at it cos the last time S&CC increased was years ago!

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Knoobie

Knoobie

Supercharged

 

Investment = gambling?? [hur]

 

When investment lose money they increase S&CC? Then they must be damn good at it cos the last time S&CC increased was years ago!

unless it is 100% got return and 0% risk involved. what's so much of a difference?

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Bystander50

Bystander50

5th Gear

The question should be the whole legitimacy of the concept of GRC.

 

a big GRC is like a SME. If you sack the entire staff of a SME and they deliberately plant land mines before they go, what do you think will happen? ??

 

Are you electing national leaders or estate and building managers? ?

 

The town council itself should be professionally run by non political players. Or by the HDB, else wtf do you pay millions to ministers for? ?.

 

The current situation is (remember AIM) symptomatic of how the system had been so manipulated to benefit the incumbent and not the residents.

 

Replace the entire staff of a SME periodically and I assure you that it will be a falling Enterprise.

 

But people fail to see TCs are being set up this way.

TCs should be non political in nature with proper continuity of ops.

 

HDB should just take care of the running of the town council. It has all the data of the flat owners.

Whether a change of political party or government, the computer systems will still be the same, everything is centalised.

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Playtime

Playtime

Twincharged

 

HDB should just take care of the running of the town council. It has all the data of the flat owners.

Whether a change of political party or government, the computer systems will still be the same, everything is centalised.

Actually it used to be like that.

The current system was introduced if im not wrong when LHL first entered parliament in AMK TC.

 

Might not be his idea, but definitely for giving him a pet project to gain added visibility.

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Tigerwoods

Tigerwoods

Turbocharged

In the first place why TC must be appointed by winning Party ?

why can't it be under Civil service and non-partisan ?

 

If TC all uses a fixed system not some AIM company, change of MP will not affect the operations.

 

Do you think we should start a Petition to change all TC be under Govt payroll instead ?

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Kxbc

Kxbc

Turbocharged

In the first place why TC must be appointed by winning Party ?

why can't it be under Civil service and non-partisan ?

 

If TC all uses a fixed system not some AIM company, change of MP will not affect the operations.

 

Do you think we should start a Petition to change all TC be under Govt payroll instead ?

 

that is as "easy" as delisting SBS Transit and SMRT and turn them into a govt run operations. [grin]

 

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Playtime

Playtime

Twincharged

 

that is as "easy" as delisting SBS Transit and SMRT and turn them into a govt run operations. [grin]

 

No la.. There are no commercial or shareholder buy back issues.

TC system is pure political.

 

When it comes to political tools.

 

The control of election department enables gerrymandering to maximise winning.

 

The control of the TC system enables the dishing out of political punishments if they still lose.

 

These 2 tools are the very Centre of their political weaponry. They control them for their survival.

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Knoobie

Knoobie

Supercharged

In the first place why TC must be appointed by winning Party ?

why can't it be under Civil service and non-partisan ?

 

If TC all uses a fixed system not some AIM company, change of MP will not affect the operations.

 

Do you think we should start a Petition to change all TC be under Govt payroll instead ?

was there any petition in Singapore that succeeded?

 

nevertheless, I will sign one if there is.

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Kar_lover

Kar_lover

Supercharged

unless it is 100% got return and 0% risk involved. what's so much of a difference?

 

A lot of difference actually - but I won't waste my time explaining to the likes of you.

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