Fap fusses over wp's $6.6m contracts while refusing to disclose its $800b+ reserves

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An honorable member of the Coffee Shop Has Just Posted the Following:

Post date:
13 Feb 2015 - 10:30pm








PAP Fusses over AHPETC's $6.6 Million Transactions while Refusing the Disclose about its $800 Billion Reserves
Over the last two days, Singaporeans have seen a big show being played out in Parliament about the "Major lapses" in the management of Aljunied Hougang Punggol East Town Council (AHPETC).
Many PAP Ministers and MPs have stepped forward in Parliament to throw mud at the Workers' Party.
Fierce words have been exchanged with PAP calling the WP a wide range of names and made claims that they were irresponsible, evasive, cheating the people, had a serious rot, and more, all under parliamentary privilege where the MPs and Minister know that there is no way that action can be taken against them for what they say.
The government has made a big deal out of the lapses highlighted in the AGO report, especially over $6.6 million worth of transactions between the AHPETC and its related managing agent FMSS.
They pointed out that FMSS is owned by two senior officials from the AHPTEC and in some instances, these directors had approved payments from AHPETC to their own company FMSS.
The PAP has hounded on the WP for this lapse despite WP's Low Thia Khiang and Sylvia Lim explaining that there was not actually any contracts awarded without tender and them also explaining that any cheques between FMSS and AHPETC had to be co-signed by an elected MP.
What is perhaps most entertaining about this whole show however, is the fact that there is a huge hypocrisy on the part of the PAP.






They have made a big show out of the relationship between FMSS and AHPETC and said that there was a conflict of interest and lack of transparency and accountability.
Then what can be said about the government's own lack of transparency, and refusal to disclose information about the estimated $800+ Billion in the National reserves of GIC, Temasek Holdings and even MAS [link link link]
The PAP has repeatedly refused to be transparent citing various reasons including that it'd take too long to calculate the value of our national reserves or that curiosity alone is not enough reason to disclose the information.
Worse still, they claim that there is no conflict of interest despite the fact that many Board members of GIC are actually ministers and the chairman of Temasek Holdings is none other than PM Lee's wife, Ho Ching.
How can the government claim there is accountability in the way GIC invests Singaporeans' money if GIC reports to the government which so happens to be consisted of people on GIC's board?


Related:
Heng Swee Keat: There is a "Serious Rot" in AHPETC
Sylvia Lim Accepts Responsibility for AHPETC Lapses and Explains Shortfalls
Low Thia Khiang: AHPETC has Suffered Because of Politicking
Government to Withhold $7 Million of AHPETC's Grants


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