Sylvia Lim says govt should check their accounts, MND says OK

winnipegjets · Feb 20, 2014

$12 billion in defence spending and the AG doesn't audit. Yet, the AG can be bothered to audit the WP TC.

I think this is a good thing ...first, it will show up how the previous PAP TC messed up the books, second, it will provide ammo to the WP to hit the PAP hard.

Remember, the AG is not independent. He works for the PAP. I would suggest that the WPTC hire an international accounting firm to scrutinize the work of the AG if the AG comes up with an adverse report.

batman1 · Feb 20, 2014

We demand the auditor-general audit the accounts of Temasek n GIC immediately.
No more nonsense of excuse from audit.

winnipegjets · Feb 20, 2014

batman1 said:
We demand the auditor-general audit the accounts of Temasek n GIC immediately.
No more nonsense of excuse from audit.

We demand the AG audit the $12 billion MINDEF budget. I suspect MINDEF paid lots of dough for things that are extensively marked up to support the GLC.

chonburifc · Feb 20, 2014

Check pappies accounts!!!

Lionheart · Feb 20, 2014

sylvia inviting troubles
check means mati liao!!!

aerobwala · Feb 20, 2014

Party began !

Singapore accounting standards are principles based, not rules based, and up to the accountant to exercise his judgement.

Expect AG to dig up more dirt for entertainment read in The Street Times.

tanwahp · Feb 20, 2014

Char_Azn said:
Read this

http://www.voiddecker.com/2013/01/a-different-look-at-this-aimishambles/

A good point by point analysis of everything in the AIM saga, many of which were never mentioned in any of the websites like TOC, TRE, etc

As for FMSS and WP

http://www.theonlinecitizen.com/2013/05/ahtcs-fmss-issue-resurfaces-in-parliament-on-aim-debate/

No relations? who are U kidding?

One more time.

1) AIM was for the purpose of blocking the opposition from using the software of the PAP town council if they capture the PAP town council. (This was boldly claimed by Sylvia, and we know WP is generally conservative and would not make such claims without basis.)

2) FMSS was formed to manage a town council as most MAs in Singapore are formed by veteran junior members of PAP. (Go check the background of the CEOs of PFS, CPG, EMS, UGL Premas, CKH etc.)

Put aside all the market talk from PAP or opposition supporters that either are to enrich party loyalists.

But between 1 and 2, we can tell which arises from a sinister dubious intention, which arises from an altruistic Hobson's choice to get things settle.

Clear?

batman1 · Feb 20, 2014

Lionheart said:
sylvia inviting troubles
check means mati liao!!!

Don't worry .No problem if no CBT or misappropriation of
funds.Only accounting entries errors,can make accounting
adjustments.External Auditors audit accounts to express an opinion
whether the financial statements true and fair.

wMulew · Feb 20, 2014

winnipegjets said:
You take a pro-PAP blogger writing nonsense and ask us to believe him. Why the hell does the TCs have to pay Management Fees to the $2-company that they sold the software too? That a few extra grands given away to this $2-company. Of course, this amount is NOT captured in the transaction.

You are grasping at straws in trying to make defamatory allegations against WP.

Besides that, you are ignoring the HUNDREDS OF BILLIONS lost by the PAP government. You rather focus on tens of thousand and close your eyes to so much of our reserves lost. Typically PAP logic.

Dumbfuck opposition supporting retards always claim there are hundreds of billions loss by PAP and point to Temasek holdings. Dumbfuck retards. Those are investment, there are losses and there are also profits. The fact that Temasek Holdings NOW is worth more than they were 10 years ago proves that they are making money and the so called losses have been more than recovered

Unlike WP, 20m missing pretend nothing happened. Cannot explain properly.

Lionheart · Feb 20, 2014

batman1 said:
Don't worry .No problem if no CBT or misappropriation of
funds.Only accounting entries errors,can make accounting
adjustments.External Auditors audit accounts to express an opinion
whether the financial statements true and fair.

of course of course, better get a robin to help you to do the accounting....

ChaoPappyPoodle · Feb 20, 2014

xingguy said:
You are just talking through your rear posterior.

<iframe width="560" height="315" src="//www.youtube.com/embed/ZggPSqHVFFw" frameborder="0" allowfullscreen></iframe>

Don't for a moment think that AIM would go away just because Pinky say so :oIo::kma:

AIM is clearly used for fixing the opposition.

Sylvia should whacked $8 Khaw jialat jialat for thinking that off the shelf software can do the work when PAP themselve spent millions of dollars of taxpayer money to pay NCS for the software. She keep quiet and that why Khaw and the PAPzis attack her and colleagues. When deal with PAPzis you must be prepared to whack them and shame them in public especially in parliament.

Poomer · Feb 20, 2014

wMulew said:
Dumbfuck opposition supporting retards always claim there are hundreds of billions loss by PAP and point to Temasek holdings. Dumbfuck retards. Those are investment, there are losses and there are also profits. The fact that Temasek Holdings NOW is worth more than they were 10 years ago proves that they are making money and the so called losses have been more than recovered

Unlike WP, 20m missing pretend nothing happened. Cannot explain properly.

Government has a surplus of $30 billion in 2012. Even if they earn half of that on average over the past ten years. It comes up to $150 billion, it's no wonder Temasek Holdings is worth more than it was 10 years ago, with the government pumping their citizen's hard earned money into Temasek, it'll take a drooling idiot to make a loss.

Furthermore, the government have never properly explained their losses, in fact they have never explained anything about Temasek and GIC, all we know is the billions they earn from selling land is going into the reserves, the surplus is going into the reserves, the tax is going into the reserves. They reserves must be overflowing with money, but they don't even dare tell you how much is inside. And you call that a reasonable explanation?

winnipegjets · Feb 20, 2014

Poomer said:
Government has a surplus of $30 billion in 2012. Even if they earn half of that on average over the past ten years. It comes up to $150 billion, it's no wonder Temasek Holdings is worth more than it was 10 years ago, with the government pumping their citizen's hard earned money into Temasek, it'll take a drooling idiot to make a loss.

Furthermore, the government have never properly explained their losses, in fact they have never explained anything about Temasek and GIC, all we know is the billions they earn from selling land is going into the reserves, the surplus is going into the reserves, the tax is going into the reserves. They reserves must be overflowing with money, but they don't even dare tell you how much is inside. And you call that a reasonable explanation?

The PAP will never be transparent on the reserves or the investments because there are lots of skeletons in the closets. I estimate that the government has lost at least $100 billion over the years.

winnipegjets · Feb 20, 2014

ChaoPappyPoodle said:
Sylvia should whacked $8 Khaw jialat jialat for thinking that off the shelf software can do the work when PAP themselve spent millions of dollars of taxpayer money to pay NCS for the software. She keep quiet and that why Khaw and the PAPzis attack her and colleagues. When deal with PAPzis you must be prepared to whack them and shame them in public especially in parliament.

WPTC should have changed audit firm after taking over. You can never trust firms that do massive work for the PAP to be work objectively for the opposition.

winnipegjets · Feb 20, 2014

wMulew said:
Dumbfuck opposition supporting retards always claim there are hundreds of billions loss by PAP and point to Temasek holdings. Dumbfuck retards. Those are investment, there are losses and there are also profits. The fact that Temasek Holdings NOW is worth more than they were 10 years ago proves that they are making money and the so called losses have been more than recovered

Unlike WP, 20m missing pretend nothing happened. Cannot explain properly.

Show us the financials!

I_Hate_Pappies · Feb 20, 2014

Poomer said:
Government has a surplus of $30 billion in 2012. Even if they earn half of that on average over the past ten years. It comes up to $150 billion, it's no wonder Temasek Holdings is worth more than it was 10 years ago, with the government pumping their citizen's hard earned money into Temasek, it'll take a drooling idiot to make a loss.

Furthermore, the government have never properly explained their losses, in fact they have never explained anything about Temasek and GIC, all we know is the billions they earn from selling land is going into the reserves, the surplus is going into the reserves, the tax is going into the reserves. They reserves must be overflowing with money, but they don't even dare tell you how much is inside. And you call that a reasonable explanation?

How are they going to cover Temasek and GIC losses if people on the street know the figures of reserves?

Satyr · Feb 20, 2014

Poomer said:
Government has a surplus of $30 billion in 2012. Even if they earn half of that on average over the past ten years. It comes up to $150 billion, it's no wonder Temasek Holdings is worth more than it was 10 years ago, with the government pumping their citizen's hard earned money into Temasek, it'll take a drooling idiot to make a loss.

Furthermore, the government have never properly explained their losses, in fact they have never explained anything about Temasek and GIC, all we know is the billions they earn from selling land is going into the reserves, the surplus is going into the reserves, the tax is going into the reserves. They reserves must be overflowing with money, but they don't even dare tell you how much is inside. And you call that a reasonable explanation?

This government takes the Sovereign in "Sovereign Wealth Fund" very literally. They are Kings and we are subjects. Money comes from us but it is not ours. CPF is a mandatory loan to the government. Taxes only benefit you are me after the Rulers and Aristocracy have dined to their fill.

winnipegjets · Feb 20, 2014

I_Hate_Pappies said:
How are they going to cover Temasek and GIC losses if people on the street know the figures of reserves?

There will be a mass exodus of foreigners and MNCs from this red dot if that information is made public. That's why it is always TOP SECRET. The Norwegian Sovereign Fund has $800 billion and it is public information on how they invest and the returns earned. Tiny dot with less money can't reveal anything. What crap.

Lots of skeletons in the closet. I look forward to have Tharman stand trial when the WP form the next government. There will be a new auditor general to run forensic audits of GIC, Temasek and the Finance Ministry.

Sylvia Lim says govt should check their accounts, MND says OK

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