PAP Town Councils have more than S$ 5 BILLION dollars of sinking funds !!

According to Channel News Asia, this represents 0.6 per cent of the total funds available for investments. (PAP) Town councils can invest up to 35 per cent of their sinking funds in corporate bonds and equities.

Now, Grace Fu did not specify if this 0.6 per cent refers to the combined funds of the two mentioned Town Councils or the total funds from all the 14 PAP Town Councils.

Assuming she is referring to the latter, doing a simple arithmetic calculation will give a sum of S$2 billion dollars made available for investment purposes.

If this amount indeed represents 35 per cent of the funds allowed for investment, this means that the total amount of funds the Town Council had at their disposal is a staggering S$5.71 billion dollars !!

Read full article and watch video here:

http://wayangparty.com/2008/11/17/p...n-s-5-billion-dollars-in-their-sinking-funds/

With all these funds, the town counsels can allocate maids to each and every family free and still have money left to spare.

and yet residents have to continue paying conservancy charges and fees....knn! so much money and yet want to collect some more...and go and gamble ....WTF!!!

theblackhole said:

and yet residents have to continue paying conservancy charges and fees....knn! so much money and yet want to collect some more...and go and gamble ....WTF!!!

Click to expand...

May be the town counsels are preparing for investment into the IRs, one bet can double the capital!!!

THE STRAITS TIME TUESDAY, NOVEMBER 18 2008

Town councils ' exposure: $16m

QUOTE

Apart from the PAP town councils, two other are run by opposition MPs. Mr Chiam See Tong ( Potong Pasir ) said his TC's money is in safe investments such as fixed deposits and Land Transport Authority bonds.

Mr Low Thia Khiang ( Hougang ) said his TC did not have any investments in Lehman-linked products or the jubilee series 3 Notes. In the last three years, his investment returns averaged 6 per cent a year, he added.

Interesting read. Good job wayang party

Please spread the link www.wayangparty.com around

More sinkies need to know the truth !

tomoko said:

Interesting read. Good job wayang party

Click to expand...

Avantas,

You might be courting trouble with your post. Even worse is that people will obtain an incorrect impression after reading your post.

Ref: http://www.channelnewsasia.com/stories/singaporelocalnews/view/390407/1/.html
$2 Billion is far less than $5 Billion. And the figure of $2 Billion is clearly identified as 'total funds' in the article you quoted.

A more appropriate comparison is to measure it directly against sinking funds. This will certainly increase the exposure in percentage terms.

For example, the Holland-Bukit Panjang Town Council may lose 6.7% of its sinking funds. That is certainly different in impact from 0.6%.

I have seen this tactic in use before when someone highly prominent mentioned the divorce statistic as a percentage of total population. Do you know how ridiculous that is? With the population increasing by leaps and bounds (at that time), the divorce rate as measured by them will keep on falling - not because the actual divorces per 1,000 marriages is falling but because the number of foreign-born singaporeans are increasing.

Therefore be aware of the use of statistics. But please do not add in your own.

Maybe for the next election, those place affected by this should be walk over by the opposition.

Avantas said:

.....

that the total amount of funds the Town Council had at their disposal is a staggering S$5.71 biIf this amount indeed represents 35 per cent of the funds allowed for investment, this means llion dollars!!

Read full article and watch video here:

http://wayangparty.com/2008/11/17/p...n-s-5-billion-dollars-in-their-sinking-funds/

Click to expand...

Greed, greed & greed....贪得无厌

theblackhole said:

and yet residents have to continue paying conservancy charges and fees....knn! so much money and yet want to collect some more...and go and gamble ....WTF!!!

Click to expand...

collecting so much money from us and causing hardship to some just to satisfy their gambling urges!

wah oppo never lose $$$$

how come those with harbird degrees lost leh

in such a bad times,they should at least give back some of those moneys to us.

you think they will ?

Pappy Teo Ho Pin: Just "be thankful"

Nomad said:

in such a bad times,they should at least give back some of those moneys to us.

Click to expand...