PAP Town Councils have more than S$ 5 BILLION dollars of sinking funds !!

[Avantas]

According to Channel News Asia, this represents 0.6 per cent of the total funds available for investments. (PAP) Town councils can invest up to 35 per cent of their sinking funds in corporate bonds and equities.

Now, Grace Fu did not specify if this 0.6 per cent refers to the combined funds of the two mentioned Town Councils or the total funds from all the 14 PAP Town Councils.

Assuming she is referring to the latter, doing a simple arithmetic calculation will give a sum of S$2 billion dollars made available for investment purposes.

If this amount indeed represents 35 per cent of the funds allowed for investment, this means that the total amount of funds the Town Council had at their disposal is a staggering S$5.71 billion dollars !!

Read full article and watch video here:

http://wayangparty.com/2008/11/17/p...n-s-5-billion-dollars-in-their-sinking-funds/

 

[helicopview]

According to Channel News Asia, this represents 0.6 per cent of the total funds available for investments. (PAP) Town councils can invest up to 35 per cent of their sinking funds in corporate bonds and equities.

Now, Grace Fu did not specify if this 0.6 per cent refers to the combined funds of the two mentioned Town Councils or the total funds from all the 14 PAP Town Councils.

Assuming she is referring to the latter, doing a simple arithmetic calculation will give a sum of S$2 billion dollars made available for investment purposes.

If this amount indeed represents 35 per cent of the funds allowed for investment, this means that the total amount of funds the Town Council had at their disposal is a staggering S$5.71 billion dollars !!

Read full article and watch video here:

http://wayangparty.com/2008/11/17/p...n-s-5-billion-dollars-in-their-sinking-funds/

Oh no..my money is there!

 

[silverfox@]

According to Channel News Asia, this represents 0.6 per cent of the total funds available for investments. (PAP) Town councils can invest up to 35 per cent of their sinking funds in corporate bonds and equities.

Why are you so surprised on this amount of money? You think its a lot?
I read the other thread on Temasek writing off xx billions due to financial crisis. 40% wiped off from asiasentinel website.

Temasek has lots more reserve. Temasek is a lot more richer than most of you think it is. :p Even lose 50 billion is just a small fraction percentage of it.

 

[helicopview]

Why are you so surprised on this amount of money? You think its a lot?
I read the other thread on Temasek writing off xx billions due to financial crisis. 40% wiped off from asiasentinel website.

Temasek has lots more reserve. Temasek is a lot more richer than most of you think it is. :p Even lose 50 billion is just a small fraction percentage of it.

I was reading it when u r writing yours. Anyway, it shows how much money they draw from our 'bank' every month.

 

[silverfox@]

I was reading it when u r writing yours. Anyway, it shows how much money they draw from our 'bank' every month.

It just shows that when the govt lose money from investments, a lot of people make noise. When the govt make money from investments, a lot of people keep quiet.
There will be another group that says, govt make money, because they suck from us people. Aiya, whatever lah. Any scenario also got people think. I just want to say is, govt reserve is much much more than what people think there is.
Do we term it as thrillions or zillions?:p

 

[The_Latest_H]

I will continue to pay my majority of the GST taxes to Kevin Rudd and Colin Barnett, thank you very much.

The PAP, on the other hand, don't deserve any comment. To do so is to honour them and their behaviour.

 

[myfoot123]

I was shocked when I heard the news, unfortunately pappy did not disclose exactly how much in dollar was lost. Pappy just give a small percentage to make it sounds like the amount invested is trivial.

If they are willing to be transparent about it by tellin us in dollar value, add all the millions dollars loss from all the TCs under pappy, the total sum can be quite substantial and scary. These are all the monies wasted which can be used to help the poor who cannot afford to pay conservancy fee or rent a flat.

I am afraid to say our HDB conservancy fee is likely to increase soon to cover all the losses made by TC stupid people.

 

[sage]

No wonder very gloomy economy painted by gahment and media lately, that it will take several years to recovery. It is in fact multiple organs failure.

 

[makapaaa]

So many "NKF" thingies huh?

 

[sherrry]

The country's name took on a seried of evolution over the centuries:
Tumasik (temasek) > Shio-nan To > Singa-pura > Singapore (Singa-pour)

Soon, they might as well rename it: Singa-POOR > Sink-a-pore

 

[Naka_Timo]

They said ONLY, TRUE OR not, we also dont knw.

 

[2lanu]

The sinking fund can allow each residental unit to buy a brand new unit or even condo!!

 

[HakkaThaileen]

.....

If this amount indeed represents 35 per cent of the funds allowed for investment, this means that the total amount of funds the Town Council had at their disposal is a staggering S$5.71 billion dollars!!

Read full article and watch video here:

http://wayangparty.com/2008/11/17/p...n-s-5-billion-dollars-in-their-sinking-funds/

Greed..greed..and greed ... 贪得无厌