WP kenna play out again...

[steffychun]

The WP can't even run the financial affairs of one town council.

You can imagine the mess the country would be in if they were in charge of the whole country.

Heaven help Singapore is these village simpletons ever gain power by some freak of nature.

Well you can wish them so much, they still control that area until 2016. It's not like the "scholar generals" are doing any better.

 

[zeddy]

U forgot the 3rd option. Money go into WP pocket

2.5 million commercial property fund just about cover 10% of the 20million missing from the rest of their accounts. Dumbfuck opposition supporting retard see small don't see big



Dumbfuck opposition retard still in denial. Before GE2011 complain about minister pay. After GE2011, support million dollar pay. Their motive have been more than clear all along. Only dumbfuck opposition supporting retard will still think it's not about money

Dumbfuck opposition supporting retard.

We know WP complain about high minister salary before GE2011 but support million dollar salary after GE2011
We know WP give contracts to good buddies without tender
We know WP ask Hawkers for extra money for free of charge services
We know WP organize endless trade fair to make more money
We know this entire account audit incident have nothing to do with PAP because the auditors are independent and are hired by WP

Only dumbfuck opposition retards will still think WP is clean

CB Kia, you must be tired after wanking yourself to sleep feeling so happy thinking that WP flopped big time in their finances.. Read this after you wake up later.. Don't vomit blood after you finished reading this latest statement from WP..

Workers' Party says government statement on its town council finances incomplete

Here is WP's statement:

We refer to the media statement by the Ministry of National Development (MND) released on the evening of 13 February 2014. Therein, MND highlighted various concerns regarding the auditor's report on the financial statements of Aljunied-Hougang Town Council (AHTC) for Financial Year 2012. As MND's observations as stated are incomplete and will mislead the public, it is therefore necessary to put the MND's statement in proper perspective.

The auditors have given us a qualified report. It is not an adverse report. They have also stated clearly that apart from their specific observations, our books, accounts and records have been kept in accordance with the Town Councils Act. The full audited report can be found at www.ahpetc.sg.

In its media statement, MND highlighted the auditors' inability to verify certain figures. We do understand the auditors' plight, as there were information gaps that existed at the handover after the General Election 2011 which to date are still not filled.

At FY 2011, the auditors had tried to request information from former auditors, unsuccessfully. Repeated attempts by the Town Council (TC) to obtain information from the former Managing Agent (MA) and government authorities, such as asking MND / the Housing and Development Board regarding $1.12 million which the PAP-run Aljunied TC had recorded as receivables from the Citizens Consultative Committees (CCCs) for Town Improvement Projects, did not yield answers.

Attempts in FY 2012 to get the information were also unsuccessful. Unless those agencies with the required information furnish them to the TC, it is likely that information gaps will remain and the accounts will continue to be qualified every year. In this regard, we note that MND could well be the best party to assist the TC to resolve some of the key information gaps.

We refer next to the transfer of monies to the TC Sinking Fund in FY 2012. We acknowledge that the TC's practice of transferring monies to the Sinking Fund after deducting Sinking Fund expenses was an oversight, which has since been rectified. This oversight did not result in any loss of monies nor unauthorized spending. The auditors' advice has been taken to ensure a physical transfer of monies from the Operating Fund of the TC to the Sinking Fund every quarter from now on.

Mass media reports have repeated past insinuations of impropriety in the TC awarding the MA contract to FM Solutions and Services Pte Ltd (FMSS). These must be debunked.

 

[cass888]

WP supporters are doing exactly what they are accusing PAP supporters of doing. Blindly supporting their leaders who have made a mistake.

http://www.channelnewsasia.com/news/singapore/disclaimer-of-opinion/998238.html

"Disclaimers of opinion" are issued by auditors when they refuse to sign off on financial statements completely, due to lack of information.
Chairman of the Workers' Party-run Aljunied-Hougang-Punggol East Town Council (AHPETC), Sylvia Lim, had said that the auditors had given a "qualified" but not "adverse" report.
She said that in a statement on Friday in response to a report by its independent auditors that raised concerns over the town council's latest financial statements for the financial year ended March 31, 2013.
In a statement on Friday evening, the ministry said the auditors raised 13 issues of concern.
Four of them had been raised before, and the town council had assured MND last year that most had been rectified.
But the auditors' latest report has shown that this is not the case.

The remaining nine issues of concern raised by the auditors were new issues.

Those issues include the town council not transferring funds into its Sinking Funds, and the town council not making available information to the auditors details of project management service fees paid to a related party.

MND said such failures are not related to handover issues.

CB Kia, you must be tired after wanking yourself to sleep feeling so happy thinking that WP flopped big time in their finances.. Read this after you wake up later.. Don't vomit blood after you finished reading this latest statement from WP..

 

[STUCK_HERE]

It's their first time. Others are guilty of worse crimes. Up to you. Just don't complain when 7million people drown you out.

 

[tanwahtiu]

If WP have financial problems running GRC town council, then perhaps they present the real problem facing running of town council.

What about PAP run own councils? Do you think they are competent? I don't believe so.

With no investigative journalist in Shitty Times over 50 years of PAP running town councils their financial problems were weep under the carpet.

Now at least we have a genuine case for comparison and hope more dirts will come up from PAP town councils.

Do you believe in LKY PAP anymore? Nah!

The WP can't even run the financial affairs of one town council.

You can imagine the mess the country would be in if they were in charge of the whole country.

Heaven help Singapore is these village simpletons ever gain power by some freak of nature.

 

[davetan3]

Give to FMSS with tender? that's illegal isn't it?
For AIM, there was a tender but only 1 company that tendered.

 

[tanwahp]

The WP can't even run the financial affairs of one town council.

You can imagine the mess the country would be in if they were in charge of the whole country.

Heaven help Singapore is these village simpletons ever gain power by some freak of nature.

Rightfully, if WP is not capable, then people should vote down WP.

Ironically, if WP's constraints are due to having too big a government, then it is the governing PAP that people need to vote down.

This is a classic example of a government being too big. HDB which is under MND not filling AHPETC on data, and then MND goes after AHPETC on this unfilled data. PAP owns too many departments and cannot coordinate. Voting them down will wake them up.

 

[Satyr]

As said, the independent auditor is neutral, but perhaps not the MND, press and FAP (Fabrications Against PAP).

The AHPETC has accumulated a whooping $2.5 million surplus under commercial property funds, but this was selectively not highlighted.

A Five million dollar change in NCA over a year is nothing for an enterprise as large as APHTEC. The PAP would simply raise conservancy charges to fill the gap. The WP has other ideas. They can still do the same by the way if needed. When a TC changes hands there are always extra costs. One or two years isn't enough to say much. You can bet the MND isn't being especially helpful.

 

[Char_Azn]

I still cant understand WP's supporter logic on this issue. 20 million missing from WP accounts done by pple hired by WP audited by pple appointed by WP.Only about 1 million is related to handover issue. How have any of this got to do with the government

 

[streetsmart73]

If WP have financial problems running GRC town council, then perhaps they present the real problem facing running of town council.

What about PAP run own councils? Do you think they are competent? I don't believe so.

With no investigative journalist in Shitty Times over 50 years of PAP running town councils their financial problems were weep under the carpet.

Now at least we have a genuine case for comparison and hope more dirts will come up from PAP town councils.

Do you believe in LKY PAP anymore? Nah!

leimens bro & sis saga

 

[tanwahp]

I still cant understand WP's supporter logic on this issue. 20 million missing from WP accounts done by pple hired by WP audited by pple appointed by WP.Only about 1 million is related to handover issue. How have any of this got to do with the government

That's because there is no "missing $20 million", of course you don't understanding. Read the first post in this thread again.

An auditor must be engaged for your accounts to become "audited accounts" and is expected to act professionally. It's just like you book appointment for driving tester that doesn't mean the driving tester must let you pass just because his livelihood depends on you.

 

[Char_Azn]

That's because there is no "missing $20 million", of course you don't understanding. Read the first post in this thread again.

An auditor must be engaged for your accounts to become "audited accounts" and is expected to act professionally. It's just like you book appointment for driving tester that doesn't mean the driving tester must let you pass just because his livelihood depends on you.

U should go read the points of contention from the auditors

The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million, lift repair and lift upgrading expenses of some S$20 million, and temporary unidentified receipts from residents and the HDB of about S$308,000.

Also this is even more damning

Mr Loh’s wife, Ms How Weng Fan, is a director of the company and also acted as the town council's general manager.

The company had been paid a management agent fee of some S$5.3 million.

Related party transactions refer to those where the town council’s key management personnel have a personal financial interest.

http://www.sammyboy.com/showthread.php?174925-Auditors-unable-to-provide-audit-opinion-on-AHPETC-s-financial-statements

 

[tanwahp]

U should go read the points of contention from the auditors

So should you. It said: "The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million, lift repair and lift upgrading expenses of some S$20 million". "Unable to determine accuracy" means missing to you?

Mr Loh’s wife, Ms How Weng Fan, is a director of the company and also acted as the town council's general manager.

May I ask anyone if a CEO getting salary and stock options is a conflict of interest? FYI I don't even have issue with the same things happening in PAP town councils. Jurong Town Council GM Ho Thian Poh is also the MD of UGL Premas which makes even more money than the small FMSS, now UGL even bought over DTZ.

 

[Char_Azn]

So should you. It said: "The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million, lift repair and lift upgrading expenses of some S$20 million". "Unable to determine accuracy" means missing to you?

I tell my boss I spend 2 million on new equipment, accounts paid that 2 million and put it in the books. Auditors check, cannot find equipment and cannot find invoice for that 2 million = unable to determine validity and accuracy of items. If it's 1 - 2 thousand for a TC to have something that small go missing is understandable. 20 million worth of upgrades that are not verifiable non-recorded, serious fucking issue

May I ask anyone if a CEO getting salary and stock options is a conflict of interest? FYI I don't even have issue with the same things happening in PAP town councils. Jurong Town Council GM Ho Thian Poh is also the MD of UGL Premas which makes even more money than the small FMSS, now UGL even bought over DTZ.

Difference between the 2, 1 passed the audit, the other didnt

 

[BANNED]

Fat pap dog u here again. Funny u seem to mia when pap cockup but when wp have issues u confirm will come.

Knnbcb to u fat chow hair pap dog. Wish your horse year will suay suay, everyday give people curse.

I start first: tiu lei lo mo chow hai

 

[zeddy]

I still cant understand WP's supporter logic on this issue. 20 million missing from WP accounts done by pple hired by WP audited by pple appointed by WP.Only about 1 million is related to handover issue. How have any of this got to do with the government

U should go read the points of contention from the auditors



Also this is even more damning



http://www.sammyboy.com/showthread.php?174925-Auditors-unable-to-provide-audit-opinion-on-AHPETC-s-financial-statements

Char Siew Pau don't worry about it.. The law will handle the couple if they really makan the money..

But how about this.. Father in law was PM, Later SM and then MM...

Hubby is the present Prime Minister and the wife is in charge of Temasek Holdings.. This is even more damning..

 

[Sideswipe]

So should you. It said: "The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million, lift repair and lift upgrading expenses of some S$20 million". "Unable to determine accuracy" means missing to you?

the auditors were almost implying that there were various suspicious transactions in the town council's accounts.

tens of thousands in the low figure, still can pretend not to notice it. but it is $20 million. am i missing something ?

 

[tanwahp]

I tell my boss I spend 2 million on new equipment, accounts paid that 2 million and put it in the books. Auditors check, cannot find equipment and cannot find invoice for that 2 million = unable to determine validity and accuracy of items. If it's 1 - 2 thousand for a TC to have something that small go missing is understandable. 20 million worth of upgrades that are not verifiable non-recorded, serious fucking issue

You should really apply your own advice to yourself. There's another key word, try to spot it:
"The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million, lift repair and lift upgrading expenses of some S$20 million"

Receivables are not expenditure. I don't think I need to explain what the 2 terms are. Going back to Sylvia Lim's press statement, it is stated that the receivables were for town improvement projects which is given only to the grassroots by HDB in turn given to PAP town councils including the previous Aljunied TC under PAP. The same fund where recently in Hougang Desmond Choo (a more objective fella) got it after discussion with Png. Now that the TC is under WP, the grassroots being a PAP entity does not bother to account to the AHPETC on the discrepancy.

Even if it wasn't receivables but expenditure, the cheque for upgrading cannot be issued to Sylvia Lim's name, as what is asserted by Mulew or perhaps you. In the absence of invoice, there are still financial statements and tender documents containing contractor's names. Even India doesn't corrupt like that.

Difference between the 2, 1 passed the audit, the other didnt

Nonsense. The auditor does not make or enforce the law - it highlights what it sees are notable. The law is by government cannot be applied unevenly - if it is a wrong practice, both PAP and WP town councils should be asked to change it.

 

[tanwahp]

tens of thousands in the low figure, still can pretend not to notice it. but it is $20 million. am i missing something ?

I don't think there is need to repeat myself. Kindly read my other posts. Thanks.

 

[Char_Azn]

You should really apply your own advice to yourself. There's another key word, try to spot it:
"The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million, lift repair and lift upgrading expenses of some S$20 million"

My god, either you have serious comprehension issue or u have selective reading issues, let me break it down for u

"The auditors said they were unable to determine the validity and accuracy of various items in the town council's accounts, including receivables of some S$1.8 million,

lift repair and lift upgrading expenses of some S$20 million"

Notice there is a comma in between these 2. Funny enough this seem to be related to PAP handover issue, it was mentioned in Sylvia Lim's statement. 1.8 is money extra going to them, not so much a problem

20 million is money going out that's what the word expenses usually means, that is not handover related else Sylvia would have mentioned it

And yes auditor dont make the rules they are there to find possible problems with pple breaking the rules. The fact that they didnt find anything from PAP end means they are generally ok. The fact that they refuse to sign off on the WP audit for more than 6 mths meaning they have not receive payment for their work yet speaks a lot. Something must be REALLY wrong for no one to want to sign off on an audit