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Teo Ho Pin - Singaporeans are ingrates !

Dan Now

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In typical gangster style, the PAPies have once again wack Singaporeans for being ingrates with guns blazing.

Despite his massive mismanagement and unaccountable ways, he has the cheek to remind Singaporeans to say thank you to him and his humbug team.

Here is the article.

<TABLE cellSpacing=0 cellPadding=0 width=640 border=0><TBODY><TR><TD>
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[FONT=Arial, Helvetica, sans-serif]This story was printed from TODAYonline [/FONT]</TD></TR><TR><TD width="3%"> </TD><TD height=1>
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</TD></TR><TR><TD colSpan=2> </TD></TR><TR><TD width="3%"> </TD><TD>Dr Teo says ‘be thankful’ [SIZE=+0]

Some residents upset;MP points out how funds have grown </B>

Wednesday • November 19, 2008


Ong Dai Lin

[email protected]


AS RESIDENTS of Holland-Bukit Panjang Town Council reacted to the news on Monday that their constituency’s funds were exposed to Lehman-linked structured products, its chairmanDr Teo Ho Pin had this message for them: Be thankful that the funds have grown under the Town Council’s watch.

Told of the rumblings on the ground about the high-risk investment, Dr Teo said the potential$8-million loss should be viewed in the context of the $24 million in investments generated over the past six years. If the Town Council had invested all its funds in low-risk investments, it would have earned only $5 million, he said.

“They (residents) should thank the Town Council for working hard to come up with a diversified portfolio to generate income so that residents do not have to fork out more money.”

Generally, residents in Holland-Bukit Panjang and Pasir Ris-Punggol whom Today spoke to had no issue about Town Councils growing their accounts through investment.

But the 20 of them insisted that Town Councils must, nonetheless, draw the line at high-risk investments. Another clear sentiment: The Town Councils should have been more upfront about their current investment situation.

Retiree Mdm Low Li Choo, who lives at Holland Avenue, said: “The Town Councils were not honestand sincere enough by notrevealing the details of their investments right from the start.”

Restaurant manager Dhanie Herman, who lives at Pasir Ris, also said: “Town councils should reveal from the start so that we can have a clearer picture of their investments.”

Why didn’t the Town Councils keep residents in the loop?

According to Dr Teo, it was because Town Councils cannot reveal their investment strategies and, anyway, Town Councils abide by the proper financial reporting system.

Details of their Lehman-linked investments were revealed on Monday by Senior Minister of State (National Development) Grace Fu in response to a question in Parliament. Prior to that, letters had been written to the press after Dr Teo, the coordinating chairman for the 14 People’s Action Party Town Councils, had responded to media queries to say that these investments amount to “a couple of percentage” of funds.

Overall, they accounted for0.6 per cent of the Town Councils’ total funds available for investment. In Holland-Bukit Panjang’s case, it was 6.7 per cent ($8 million) of its funds and for Pasir Ris-Punggol,$4 million (2.6 per cent).

Yesterday, Tanjong Pagar Town Council, one of six other Town Councils with exposure to Lehman Brothers, said that $250,000 has been invested by its fund managers in the bankrupt institution’s bonds — or 0.14 per cent of its total sinking funds.

Pasir Ris-Punggol MPs Teo Ser Luck and Penny Low said that residents’ sentiments were fair, but urged them to understand that the Town Councils did not foresee the financial tsunami and its impact on complex structured products.

On the timeliness of making information available, Mr Teo said that “we will definitely have to inform the residents as soon as possible at a timely time”, but “we need to first make assessments to know what has happened before making announcements”.

Both Mr Teo and Ms Low assured residents belonging to both Town Councils that upgrading and maintenance works in the estates will not be affected.

Customer service representative Nura Fadhlin, who lives at Pasir Ris Drive 6, said: “It is unfortunate that there is a financial crisis now and the Town Council lost money, they couldn’t have predicted it ... but I’m concerned that we don’t know what they are doing with our money.” [/SIZE]</TD></TR><TR><TD colSpan=2> </TD></TR><TR><TD width="3%"> </TD><TD align=middle>[FONT=Arial, Helvetica, sans-serif]Copyright MediaCorp Press Ltd. All rights reserved.[/FONT]</TD></TR></TBODY></TABLE>
 

Dan Now

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According to Dr Teo, it was because Town Councils cannot reveal their investment strategies and, anyway, Town Councils abide by the proper financial reporting system.

Cannot reveal their investment strategies ? Whats there to hide ? Does it hinge on national security as the information is so sensitive that it would threaten our existence ?

And please Mr. Ho. If it adheres to proper Finiancial reporting system, ALL THIS STRATEGY WOULD BE MADE KNOWN IN THE FIRST PLACE.

Clearly the PAP MPs are the king of talking cock.

Moreover, how is Mr Teo, qualified to ran all the funds for all the 14 town councils is questionable. Who are in the team of investors and fund managers ?

Above all, why are Town council allowed to ran their own fiefdom and operate like some mafia money operators whose investment strategies cannot see the light of day ?

Is there any check and balance system in the whole operations at all ? Are residents of the Town Council given annual statements of the health of their Town Council ?



Dan
 
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myfoot123

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Asset
According to Dr Teo, it was because Town Councils cannot reveal their investment strategies .

Cannot reveal their investment strategies ? Whats there to hide ? Does it hinge on national security as the information is so sensitive that it would threaten our existence ?
Clearly the PAP MPs are the king of talking cock.
Dan

You should never believe in this scumbag who did not allow WP to cycle in the park and yet kept his eyes closed when his master and a group of pap scumbags cycled in the park.
 

captainxerox

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town council behaving like mini-gic and mini-temasek ...hush hush investment strategy. the truth is that there is no strategy to reveal in the first place. anyhow hantam only!
 

Wayne Piew

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You should never believe in this scumbag who did not allow WP to cycle in the park and yet kept his eyes closed when his master and a group of pap scumbags cycled in the park.

Never mind you don't believe, as long as WP's Yaw Sin Leong continue to have faith in Dr Teo and vote for him in next election is fine with me.
 

Dan Now

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Never mind you don't believe, as long as WP's Yaw Sin Leong continue to have faith in Dr Teo and vote for him in next election is fine with me.

Dear Footy,

LOL. Well let's see what Yaw have to say this time. Now he is in a double bind. He simply cannot afford not to remain quiet while giving his full endorsement to Teo Ho Pee.
 

STUCK_HERE

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Big Sinkie scolding small Sinkies. A pathetic race of people - Sinkies, killing one another, favoring all things foreign, uncohesive, selfish, (the list goes on). I am bored.
 

Devil Within

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Asset
“They (residents) should thank the Town Council for working hard to come up with a diversified portfolio to generate income so that residents do not have to fork out more money.”

The Town Council should not have investment portfolio in the first place!!! The money residents paid is for the upkeep of their town estate and not for investment purposes! If Town Councils have so much extra money, that means they are not spending correctly or they are charging residents too much!!! :mad:
 

cass888

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Your behaviour is typical of the reCHEEme of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.

If they had not invested at all, the pot woud have been smaller than it is now. Just a small bit of losses and you people want to KPKB capitalising on the losses. It shows how clueless you people are about treasury activities.




In typical gangster style, the PAPies have once again wack Singaporeans for being ingrates with guns blazing.

Despite his massive mismanagement and unaccountable ways, he has the cheek to remind Singaporeans to say thank you to him and his humbug team.

Here is the article.
 

Leegimeremover

Alfrescian
Loyal
The Town Council should not have investment portfolio in the first place!!! The money residents paid is for the upkeep of their town estate and not for investment purposes! If Town Councils have so much extra money, that means they are not spending correctly or they are charging residents too much!!! :mad:

www.gov.sg never state town council as statutory board. Any one check town council annual report for financial performances?
 

oli9

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Loyal
The Town Council should not have investment portfolio in the first place!!! The money residents paid is for the upkeep of their town estate and not for investment purposes! If Town Councils have so much extra money, that means they are not spending correctly or they are charging residents too much!!! :mad:

To begin with, if the Town Council has excessive funds means theyre OVERCHARGING the HDB residents!!!!! Our TC charges are being marked up 100% to leave these bastards with more gambling money.
On a serious note, Dr teo looks a bit like a mangy dog.
 

cass888

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To begin with, if the Town Council has excessive funds means theyre OVERCHARGING the HDB residents!!!!! Our TC charges are being marked up 100% to leave these bastards with more gambling money.
On a serious note, Dr teo looks a bit like a mangy dog.

Which part of "sinking fund" do you not understand? Typical of the reCHEEme of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.
 

SIFU

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To begin with, if the Town Council has excessive funds means theyre OVERCHARGING the HDB residents!!!!! Our TC charges are being marked up 100% to leave these bastards with more gambling money.
On a serious note, Dr teo looks a bit like a mangy dog.

thats exactly my sentiments.. they are overcharging us for doing the minimal..
 

Devil Within

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Asset
www.gov.sg never state town council as statutory board. Any one check town council annual report for financial performances?

If Town Councils are not a statutory board, then what are they? Are they under the govt branch or are they a private organisation not within the govt? Or they are simply an extension of PAP and not the govt? Can someone enlightenment me? :confused:
 

oli9

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Loyal
Which part of "sinking fund" do you not understand? Typical of the reCHEEme of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.

Dear typical albino son-of-a-bastard

Please conclude your definition of a sinking fund. Is it collected for the TC mangy dogs & bitches to gamble or is it meant for slow albeit safer investments?
Not only youre clouded by your masters' dog poo, Im sure youre having them for your daily meal as well.
Have u sucked your masters albino cock today?
 

cass888

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Dear typical albino son-of-a-bastard

Please conclude your definition of a sinking fund. Is it collected for the TC mangy dogs & bitches to gamble or is it meant for slow albeit safer investments?
Not only youre clouded by your masters' dog poo, Im sure youre having them for your daily meal as well.
Have u sucked your masters albino cock today?

Stop changing the subject the way the reCHEEme likes to do. You criticised the surpluses, which mean you members of the reCHEEme don't understand what is a sinking fund.

If you live in the real world, you will know that in investments you win some, you lose some and as long as you're ahead at the end you're find. But you members of the reCHEEme don't understand.

Your master is the one who is the dog, the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.
 

oli9

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Loyal
Stop changing the subject the way the reCHEEme likes to do. You criticised the surpluses, which mean you members of the reCHEEme don't understand what is a sinking fund.

If you live in the real world, you will know that in investments you win some, you lose some and as long as you're ahead at the end you're find. But you members of the reCHEEme don't understand.

Your master is the one who is the dog, the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.

Dear ALBINO Son-of-a-bastard

Answer these teasers

Is the TC fees for gambling purposes? yes/no
Surpluses can be in any form as long as the investment is secured. yes/no
Dr teo is a mangy dog yes/no

Cas888 is a bastard recarnation of clinton888, lincoln888 yes/no
 
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