A recent case where the Town Council was exposed for spending the resident's month contribution for service and conservancy (S&C) on investments "had earlier been described loosely as “a couple of percentage”, and yesterday, the hard figures — amounting to$16 million in all — were revealed for the first time. " as per TODAY paper on 18 November 2008 stated.
http://www.todayonline.com/articles/287786.asp
The following day in the TODAY paper 19 November 2008, below statement came out by Dr. Teo Ho Pin a Member of Parliment
“They (residents) should
thank the Town Council for
working hard to come up with a
diversified portfolio to generate
income so that residents do not
have to fork out more money.”
Sure or not! And we should be "Thankful!" What lame excuse. Can't you find a better excuse then this? Then have you done anything good lately after getting the money? Sigh ... it is really sad to learn that we trusted the Town Council and they have betrayed our trust by doing this without resident's consent. Who else we can trust anymore these days if even Town Council have played us like that?
Our next question, so will there be justice for this? Will someone be punished for this or is it going to be another cover up?
Read about it below
http://www.todayonline.com/pdf_open.asp?id=1911HNR005
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