SINGAPORE — The Housing and Development Board (HDB) said yesterday it is studying the civil claims filed against several Workers’ Party (WP) town councillors — for alleged overpayments totalling S$33.7 million —and seeking advice from the Attorney-General’s Chambers on the matter.
Parliament was told on Monday that the Pasir Ris-Punggol Town Council had invested $4 million, or 2.7 per cent of its total funds, in financial products linked to the now-bankrupt Lehman Brothers investment bank.
It was one of eight town councils which had a total of $16 million exposed to various troubled products. These included Lehman Minibonds and the now worthless Merrill Lynch Jubilee Series 3 LinkEarner Notes.
when their own PAP town councils lost $$$ in toxic funds
why din HDB seek AG Chamber advise leh
cheesepie HDB
Parliament was told on Monday that the Pasir Ris-Punggol Town Council had invested $4 million, or 2.7 per cent of its total funds, in financial products linked to the now-bankrupt Lehman Brothers investment bank.
It was one of eight town councils which had a total of $16 million exposed to various troubled products. These included Lehman Minibonds and the now worthless Merrill Lynch Jubilee Series 3 LinkEarner Notes.
when their own PAP town councils lost $$$ in toxic funds
why din HDB seek AG Chamber advise leh
cheesepie HDB
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