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Interesting history of AIM Pte Ltd
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The $2 company, Action Information Management Pte Ltd (AIM), was today (24 Dec) confirmed by Dr Teo Ho Pin, Coordinating Chairman of 14 PAP TCs, as the company which won the open tender to buy the software system, Town Councils Management System (TCMS), developed by NCS for the town councils.
Dr Teo said that AIM was the sole bidder. The software was sold to AIM for $140,000 and AIM in turn, leased it back to each TC for $785 per month. With 14 PAP TCs, the total leasing fee would be $10,990 per month (‘AIM stands to make more than $600K in current Govt term‘).
More info on AIM
TR Emeritus (TRE) has since received more information on AIM from some of the readers.
AIM was formed on 22 Jul 1991, about 21 years ago [Link].
From this document [Link], we know that Ng Pock Too was the original director of the company. He was appointed the director on the same day that AIM was formed.
Ng Pock Too was the PAP’s candidate for Anson constituency in the 1984 GE. Then, JBJ (WP) beat Ng Pock Too to retain his seat in Anson. JBJ had earlier won in Anson in a 1981 by-election when Devan Nair relinquished his Anson’s seat to become the President of Singapore.
In 1988 GE, Ng Pock Too won in Nee Soon Central and became a Member of Parliament (MP). However, in the 1991 GE, he lost his seat in Nee Soon Central to SDP. Thereafter, he did not stand for election anymore. GE was held on 31 Aug in 1991. So, it appears that about a month before the 1991 GE, AIM was formed with the involvement of Ng Pock Too.
It is likely that Ng Pock Too was also a shareholder ($1) of AIM when the company started in 1991.
On 20 Dec 1991, about 5 months after the incorporation of AIM, John Wong Weng Foo was appointed director of AIM.
John Wong was a prominent IT figure in the 70s and 80s. He was in fact the top IBM person in Singapore then. He left IBM in 1990 to join Hong Leong Group. The following is the detail bio-data of John Wong from Businessweek research [Link]:
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Mr. Weng Foo Wong, John serves as General Partner of General Atlantic Partners LLC since 1999. Mr. Wong served as the Group Managing Director of Hong Leong Asia Corporation from 1990 to May 1999. Subsequently, he was a special adviser of General Atlantic Partners. He served as the President of China Yuchai Ltd. and Managing Director of IBM in charge of operations in Singapore, Sri Lanka and Brunei. He has extensive experience in the computer business having held various positions in IBM Singapore Pte Ltd (IBM) from 1970 to 1990. Mr. Wong served as Vice Chairman of China Yuchai Ltd. He has been an Independent Director of Goodpack Ltd since February 28, 2002. He serves as a Director of PSB Corporation, TSH Corp., Singapore Management University, Goodpack System Pte Ltd., Patni Computer Systems. Mr. Wong has been a Non Executive Director of MMI Holdings Limited since November 1, 1999. He has served on various boards including National Computer Board, Singapore Institute of Standards and Industrial Research, Institute of Policy Studies, Institute of Systems Science, Science Centre, American Business Council and the Singapore International Chambers of Commerce, the Singapore Productivity and Standards Board and Singapore Institute of Management. He served as an Independent and Non-executive Director of Asia Dekor Holdings Ltd. since November 1999. Mr. Wong holds a Master of Business Administration degree from Brunel University, United Kingdom and completed Advanced Management Program at University of Hawaii.
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So, after John Wong left IBM in 1990, he was appointed a director of AIM the following year.
Then about 7 years later on 1 Jan 1998, Lau Ping Sum was appointed director of AIM.
Lau Ping Sum first contested in 1980 GE as a PAP candidate. He became Yio Chu Kang MP after winning the election. Subsequently he won the 1984 and 1988 elections and continued to be the Yio Chu Kang MP. In 1991, he was part of the PAP’s Ang Mo Kio GRC team and won through a walkover. Thereafter, he stepped down in 1997 and did not contest anymore.
Hence, we can see that not long after the 1997 GE when he stepped down, he became a director of AIM in Jan 1998.
It was not known when Lau became a shareholder of AIM but by 2008, the ACRA data clearly shown that the 2 shareholders of AIM were:
Ng Pock Too $1
Lau Ping Sum $1
On 30 Jun 2008, AIM changed its auditor to its current C M Leong & Co. It was revealed that prior to this, AIM was audited by Ee Peng Liang & Company, from 20 Jan 1992 to 30 Jun 2008 [Link]. Ee Peng Liang & Company was, of course, an auditing firm founded by Ee Peng Liang, Gerald Ee’s father.
In Mar 2010, for reasons unknown, Ng Pock Too transferred his $1 share to Chandra Das. Also, Ng Pock Too and John Wong resigned from AIM as directors on 1 Mar 2010. Replacing them were Chandra Das and Chew Heng Ching [Link][Link].
Chandra Das became a PAP MP for Chong Boon constituency in 1980 through a walkover. In 1984 GE, he beat an opposition challenge to retain his seat in Chong Boon. In 1988, he was part of the PAP’s Cheng San GRC team and won through a walkover. In 1991, Cheng San was challenged by NSP but PAP was able to win then (Cheng San was now a much bigger constituency than the one in 1988). In 1997, Chandra Das decided to step down.
Chew Heng Ching first won in Kaki Bukit in 1984 GE. In 1988 GE, he contested in Eunos GRC and the PAP’s team barely scrapped through with a 50.9% winning. The opposition team was WP’s Dr Lee Siew Choh, Mohd Khalit and Francis Seow. In 1991, he again was part of PAP’s team in Eunos GRC and won the election again. In 1997 and 2001, he became part of the PAP’s East Coast GRC team and won through walkovers. In 2006, he stepped down from politics.
So, currently, AIM’s 3 directors are (all former PAP MPs):
Mr Lau Ping Sum
Mr Chandra Das
Mr Chew Heng Ching
The shareholders are:
Mr Lau Ping Sum, holding $1 share
Mr Chandra Das, holding $1 share
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