Teo Ho Pin's Defiant ARROGANCE!

[makapaaa]

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Coffeeshop Chit Chat - Teo Ho Pin: we did not mismanage!</TD><TD id=msgunetc noWrap align=right>

Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">kojakbt22 <NOBR>

</NOBR> </TD><TD class=msgDate noWrap align=right width="30%">5:49 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 10) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>3029.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Town councils' sinking funds not mismanaged, says Teo Ho Pin
By Dominique Loh, Channel NewsAsia | Posted: 26 November 2008 1928 hrs
SINGAPORE : The coordinating chairman of PAP town councils, Teo Ho Pin, has clarified that PAP town councils have not mismanaged public funds. He also stressed that PAP town councils are financially secure.

In a statement to the media on Wednesday, he said town councils have been prudent because they understand their responsibility to residents.

His comments came after it was revealed in Parliament that funds from eight PAP town councils were exposed to failed Lehman Brothers financial products. Those invested funds total some S$16 million.

Dr Teo said over the last six years, town council investments yielded an average 3 per cent rate of return annually.

Over the last two decades, 14 PAP town councils have accumulated about S$2 billion in sinking funds. That works out to about S$200,000 per HDB block in Singapore. There are about 9,000 HDB blocks in Singapore.

Sinking funds are accumulated surpluses meant for long-term use. Investments are made using the sinking funds, not with short-term operating funds from service and conservancy charges.

The way a town council invests is determined by guidelines set by the National Development Ministry.

Dr Teo said conservative investments may not generate sufficient returns that will overcome inflation. Therefore, town councils take a prudent stand by spreading their investments over a mix of financial products.

He said town councils are financially secure. That is why estate maintenance and improvement plans will not be affected.

Sinking funds are also used to pay for long-term works such as lift replacements, maintenance, and co-paying for lift upgrading.

Residents can access a town council's financial statements through its annual reports.
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[theblackhole]

mr teo spoke the truth, nothing but the painful truth. singaporeans should learn to accept painful truths and do something about them instead of whinning and whinning like a dog. accept the truth and do something about it!!!! don't just whine and whine like a spoilt brat. sinkies deserve what they get! sinkies deserve to be screwed. sinkies deserved to be fartup. just to to any sinkie town and you see sinkies deserve all these screwings and fartups. just look at sinkie behavior! despicable,ball-less and bohlampar sinkies. they deserve everything that comes their way! well done sinkies!!!

 

[etherc]

Having the "right" idea and applying "acceptable risk" is good indeed. Hitler believed in uniting his people, he believed his people to be the best, he wanted progress for his country. So he brought back old Germanic pagan traditions, waged propaganda campaigns and eventually seek to prove his people's superiority through World War II. He put Germany into the ranks of a superpower did he not?

 

[Leongsam]

<table class="msgtable" cellpadding="0" cellspacing="0" width="96%"><tbody><tr><td class="msg" valign="top"><table border="0" cellpadding="0" cellspacing="0" height="45" width="487"><tbody><tr><td class="msgtxt">Town councils' sinking funds not mismanaged, says Teo Ho Pin
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Returns from sinking funds should be be measured over the long term. Judgement cannot be passed based on a few bad apples in the overall investment pie.

Teo claims that PAP town councils have achieved a 3% return pa. How does this compare with what the opposition town councils have achieved? If the pappy councils have achieved higher yields than oppo town councils despite the recent losses, then Teo's point has been proven.

How have the opposition town councils fared with their more conservative investment portfolio? Someone has the answer. Let's hear it.