AHPETC was back in the black after agent contract ended: Khaw Boon Wan

[370HSSV 0773H]

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[eclipsemints]

What this cow is harping? AHPETC is in the black even after paying off FMSS lei! what a ***** idiot!

154th media just Pwned cow big time!

 

[Mancunian2]

why is Samurai Khaw still flogging this dead horse when there are more pressing national issues at stake?

 

[Mancunian2]

 

[wadsad]

In before PAP supporters saying the same thing about how ppl kpkb pap.

they can kpkb about what?

public transport solved? no.

housing solved? no.

healthcare solved? no.

they can only throw ahpetc at WP supporters.

 

[[[ForeverAlone]]]

When "their friends" were the managing agent, the Aljunied-Hougang-Punggol East Town Council (AHPETC) was losing money.

When this arrangement stopped, AHPETC was back in the black.

This is what it boils down to, said National Development Minister Khaw Boon Wan yesterday, as he urged Singaporeans not to "get lost and drown in the details" of the

explanations which the Workers' Party has provided since last Saturday.

That was when his ministry revealed figures which showed how AHPETC's former managing agent, FM Solutions and Services (FMSS), had been "grossly profiteering" off its one and only client.

FMSS made a net profit of $2 million in the financial year 2013/2014, after paying its four owners - then senior officers at the AHPETC - salaries that amounted to $1.14 million, the ministry said.

In the same year, AHPETC suffered an operating deficit of $2 million, the ministry added.

On Monday, when the WP submitted its accounts, chairman Sylvia Lim said the town council had an annual surplus of $1.7 million, if government grants worth more than $7 million were taken into account. The WP is now managing its town council directly, after the FMSS contract expired in July.

Mr Khaw asked Singaporeans to draw their own conclusion from the events.

"Let me simplify the message... The town council lost money, about $2 million a year. FMSS made profit of more than $2 million a year. After the FMSS contract is terminated, the town council is now in the black," he said at the PAP branch office in Woodlands Avenue 6 yesterday morning. This was before he and his Sembawang team headed to Yishun Primary School to submit their nomination papers.

The Ministry of National Development's (MND) revelation has been criticised as being politically motivated as it came two weeks before Polling Day. But Mr Khaw said he did not want to address the timing of the announcement, having already explained it on Sunday, when he said that there was nothing unusual about it.

But it was a point that Law Minister K. Shanmugam did address yesterday when he spoke to reporters after submitting his team's nomination papers at the same place. He is leading a team against the WP in Nee Soon GRC.

"I think they (MND) released it as soon as they received the report," he said, referring to the report on FMSS' accounts from the Accounting and Corporate Regulatory Authority (Acra).

It was delivered two days before the MND released its statement.

What surprised him was the WP's own shock. He pointed out that the numbers were "something that was always known to the town council so it's not information that would be unknown".

He added that the WP could have dealt with the revelations earlier if it had done more to cooperate with the authorities.

"This is the very information that the auditors had asked for and they refused to give and now I think it's a bit odd to say, how come you released it?'

"In the interest of transparency, they should have released it a long time ago," he said.

WP candidate Kenneth Foo, who is standing in Nee Soon GRC, was asked yesterday about the Aljunied town council issue, but he declined to say much.

The new WP face, who was presented on Sunday, said: "This is in the hands of court, so it's not fair for me to make any comment at this point of time."

The MND has applied to the High Court to appoint independent accountants to AHPETC.

Added Mr Foo, who works in a voluntary welfare organisation: "Our focus is on Nee Soon constituency, and this campaign. So if you've any further questions, maybe you can refer back to Ms Sylvia (Lim) or Mr Low (Thia Khiang), or the WP media team."


http://www.straitstimes.com/singapore/ahpetc-was-back-in-the-black-after-agent-contract-ended-khaw

TELL THIS Khaw Boon Wan where is THE EXPLANATION OF THE CEILING DROP!

still want to kapo..try to gain points in front PM lee just say this fellow...

 

[mryang]

 

[maui_boy]

Paps also many frens wor

 

[smith2006]

Sent from your grandfather road using GAGT

PAP has delivered all their promises? Nothing to talk?

 

[Ciccio]

it seems like to them, there is no bigger issue than this.
so happy yet so sad.

 

[wadsad]

Paps also many frens wor

husband and wife also. dun play play.

 

[rathalos]

khaw talk so much cock, dun dare to produce numbers on his own PAP TC's MA profits etc.... he busy protecting his friends and helping his friends profit from charging high prices for cleaning services...

 

[Soulhacker]

why is Samurai Khaw still flogging this dead horse when there are more pressing national issues at stake?

Moi believe our higher mortals have no concrete solutions to present problem plaguing us peasants like overpopulation, unreliable public transports, overpriced public housing, unfair competitions from FTs etc etc etc and not to mention most if not all are these problem are actually the result of their open door policies which ish difficult to reverse by nao.

This ish why anyone with eyes and ears can clearly see and heard how they mainly focus on the track records of the first 40yrs plus LKY and how we should trust them with our future beyond 10~15 yrs.

But when it come to the last 10yrs, the present and next 10yrs, they only dare to talk about AHPETC or use fear tactics as usual like terrorism, uncertain economy and unstable political situation in neighboring countries etc.

 

[veryhungryboy]

his own Harakiri still not done yet?

 

[overman]

When "their friends" were the managing agent, the Aljunied-Hougang-Punggol East Town Council (AHPETC) was losing money.

When this arrangement stopped, AHPETC was back in the black.

This is what it boils down to, said National Development Minister Khaw Boon Wan yesterday, as he urged Singaporeans not to "get lost and drown in the details" of the

explanations which the Workers' Party has provided since last Saturday.

That was when his ministry revealed figures which showed how AHPETC's former managing agent, FM Solutions and Services (FMSS), had been "grossly profiteering" off its one and only client.

FMSS made a net profit of $2 million in the financial year 2013/2014, after paying its four owners - then senior officers at the AHPETC - salaries that amounted to $1.14 million, the ministry said.

In the same year, AHPETC suffered an operating deficit of $2 million, the ministry added.

On Monday, when the WP submitted its accounts, chairman Sylvia Lim said the town council had an annual surplus of $1.7 million, if government grants worth more than $7 million were taken into account. The WP is now managing its town council directly, after the FMSS contract expired in July.

Mr Khaw asked Singaporeans to draw their own conclusion from the events.

"Let me simplify the message... The town council lost money, about $2 million a year. FMSS made profit of more than $2 million a year. After the FMSS contract is terminated, the town council is now in the black," he said at the PAP branch office in Woodlands Avenue 6 yesterday morning. This was before he and his Sembawang team headed to Yishun Primary School to submit their nomination papers.

The Ministry of National Development's (MND) revelation has been criticised as being politically motivated as it came two weeks before Polling Day. But Mr Khaw said he did not want to address the timing of the announcement, having already explained it on Sunday, when he said that there was nothing unusual about it.

But it was a point that Law Minister K. Shanmugam did address yesterday when he spoke to reporters after submitting his team's nomination papers at the same place. He is leading a team against the WP in Nee Soon GRC.

"I think they (MND) released it as soon as they received the report," he said, referring to the report on FMSS' accounts from the Accounting and Corporate Regulatory Authority (Acra).

It was delivered two days before the MND released its statement.

What surprised him was the WP's own shock. He pointed out that the numbers were "something that was always known to the town council so it's not information that would be unknown".

He added that the WP could have dealt with the revelations earlier if it had done more to cooperate with the authorities.

"This is the very information that the auditors had asked for and they refused to give and now I think it's a bit odd to say, how come you released it?'

"In the interest of transparency, they should have released it a long time ago," he said.

WP candidate Kenneth Foo, who is standing in Nee Soon GRC, was asked yesterday about the Aljunied town council issue, but he declined to say much.

The new WP face, who was presented on Sunday, said: "This is in the hands of court, so it's not fair for me to make any comment at this point of time."

The MND has applied to the High Court to appoint independent accountants to AHPETC.

Added Mr Foo, who works in a voluntary welfare organisation: "Our focus is on Nee Soon constituency, and this campaign. So if you've any further questions, maybe you can refer back to Ms Sylvia (Lim) or Mr Low (Thia Khiang), or the WP media team."


http://www.straitstimes.com/singapore/ahpetc-was-back-in-the-black-after-agent-contract-ended-khaw

Actually i would also like a more detailed explanation on how Khaw Boon Wan derived this.

Looking at the operating expenditures, they are virtually unchanged for both years. How is this paying less?

Solving the deficit for AHPETC as far as i can tell is primarily from the increase in S&CC income.

 

[xiaowhois]

in black than make noise~ in red also make noise like that how? red or black?

 

[veryhungryboy]

it seems like to them, there is no bigger issue than this.
so happy yet so sad.

 

[fox1]

But if the govt wants to know the profits of any company, they just need to check with IRAS (companies must file tax), right? Why need to wait to receive from ACRA? Shouldn't the govt have already know FMSS's profit margin long ago?

And how can AHPETC know the profits of FMSS? Different entities, right?
If like what Mr. Shanmugam says, that all Town Councils know the profit margin of their Managing Agent, can i request that all the PAP Town Councils publish the profit margins of their Managing Agents from 2011 to 2014 for us to compare with AHPETC's?

Thank you.

They might have talked about it over coffee mah.
The FMSS bosses were LTK assenter and proposer in GE 2006.
Long time friendship already.

 

[JoePilot]

LAI LIAO LAI LIAO!!!
Pap one day never chant AHPETC, whole night all cannot sleep!

 

[ironsteel]

LAI LIAO LAI LIAO!!!
Pap one day never chant AHPETC, whole night all cannot sleep!

Tok bad AHPETC not easy to chant. Otherwise all the PAP rallies settled liao. Cover up the fact that they have no concrete proposals in their manifesto. "Just trust us, we will do the right thing."

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