Where's the fund to replace 1,260 lifts in future?

[makapaaa]

Nov 25, 2009

Where's the fund to replace 1,260 lifts in future?

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I REFER to Monday's report, 'Town council grades: Tampines residents get a peek' and applaud the Tampines Town Council for scoring top marks for its lifts in the preliminary results of the Town Councils Management Report.
The town council did not reveal how much it spent on maintaining these lifts, nor give an estimate of their future replacement cost and, more importantly, how this cost will be financed.
The council now has about 1,260 lifts and the replacement cycle is 28 years. The council keeps a sinking fund for such replacement works. At the current replacement cost of $100,000 for a lift, the council needs $126 million to replace all its lifts.
But according to its latest financial statement, it has only $32 million in its residential sinking fund, an annual contribution of $11.8 million and an annual expenditure of $24 million.
Considering this, the town council should tell its residents how it intends to fund the future lift replacements.
With advancement in technology, there is no doubt that lift performance is getting better and better, but there is a price to pay for the maintenance and replacement. Will future generations bear the burden of paying for these costs?
Eilleen Tan (Ms)

 

[makapaaa]

Have the 66% Sporns thought that those mega-million$ 'upgrading' works are actually inflated?

 

[Tiu Kwang Yew]

The PAP saying---win votes first, die later nevermind, afterall, PAP people are rich and can skip town anytime when sinkapore kaput !
you die later your problem, we are not around to hear your problem.

 

[flyingdagger]

Good question, will there be any answer from Mah?

 

[myo539]

Singapore government has at least US$450 billion in reserves. What's a $100 million dollars? It's peanuts. It can even afford a lift to heaven.

 

[Shi Jin]

The answer to that question lies in the next GST increment.

 

[hairylee]

The PAP saying---win votes first, die later nevermind, afterall, PAP people are rich and can skip town anytime when sinkapore kaput !
you die later your problem, we are not around to hear your problem.

This is what our Ministers have been telling the citizens all these years -

We take a long term view in all our policies.​

​

Sunshine Empire also indulge in such long term view.

 

[kaipoh]

Nov 25, 2009

Where's the fund to replace 1,260 lifts in future?

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I REFER to Monday's report, 'Town council grades: Tampines residents get a peek' and applaud the Tampines Town Council for scoring top marks for its lifts in the preliminary results of the Town Councils Management Report.
The town council did not reveal how much it spent on maintaining these lifts, nor give an estimate of their future replacement cost and, more importantly, how this cost will be financed.
The council now has about 1,260 lifts and the replacement cycle is 28 years. The council keeps a sinking fund for such replacement works. At the current replacement cost of $100,000 for a lift, the council needs $126 million to replace all its lifts.
But according to its latest financial statement, it has only $32 million in its residential sinking fund, an annual contribution of $11.8 million and an annual expenditure of $24 million.
Considering this, the town council should tell its residents how it intends to fund the future lift replacements.
With advancement in technology, there is no doubt that lift performance is getting better and better, but there is a price to pay for the maintenance and replacement. Will future generations bear the burden of paying for these costs?
Eilleen Tan (Ms)

I am sorry, for those constituencies under my juridiction the sinking fun lost 100 million in investment structure product. Such being the case the lift upgrading is pending untill further notice.
Please take note that this lost and staff bonuses is not my responsibilty as the supporting staff made the decision I merely a spokeperson. ZZZZZZ