It states that “In 2010, PAP TCs called an open tender to sell the ownership of the developed application software.
But only 1 bid?
Dr Teo said although five companies collected the tender agreement, the sole bid was submitted by AIM, a company fully owned by the PAP.
Fantastic ROI?
AIM offered to buy the software for S$140,000 and manage the system for a monthly fee of S$785 per TC, for an initial term ending 31 October 2011.”
$785 a month times 14 town councils means that the annual revenue would be $131,880.
This must arguably be the best business tender deal of the century, with 94 per cent of the investment recouped in just the first year!