atans1

GE: Not before end August 2015

In Corporate governance, Political governance, Public Administration on 16/02/2015 at 4:44 am

At the very earliest. My earlier take that it would be in June next yr.

https://atans1.wordpress.com/2014/12/17/betterest-indicator-on-whether-there-will-be-early-ge/

This is my latest guess based on the fact that AHPETC will not get any S&C funds until it can furnish clean accounts by end August 2015. This is what Khaw said:

“Make restitution to the residents for the losses to their town council. Submit a clean set of accounts for FY 2013 to Parliament by Jun 30, 2015. Submit your accounts for FY 2014 on time by Aug 31, 2015. Account to Parliament, account to your residents and those in this House.

“These are not high hurdles. These are the basic requirements for any organisation, for anyone seeking to run for office in any organisation. Every town council has been able to do this, including those run by opposition MPs in the past. This is what supporting the Motion means.”

Actually, they are very high hurdles given that AGO reports

  • Inadequate oversight of related party transactions involving ownership interests of key officers, hence risking the integrity of such payments;
  • Not having a system to monitor arrears of conservancy and service charges accurately and hence there is no assurance that arrears are properly managed;
  • Poor internal controls, hence risking the loss of valuables, unnecessary expenditure as well as wrong payments for goods and services; and
  • No proper system to ensure that documents were safeguarded and proper accounts and records were kept as required by the Town Councils Act.

After the CNY hols, if no-one else has blogged on the matter, I’ll try to explain the problems the WP faces in getting clean audit reports given the AGO’s comments. To tease readers: there needs to be a forensic audit (Guess what PAP rats MPs are calling for?), or a really nasty write-down coupled with a promise to “recover” monies from Low’s friends.

It’s that or allow residents to suffer. Because no govt grant (S&C rebate based on HDB units in the area) until then: “Until the weaknesses are addressed, there can be no assurance that AHPETC’s accounts are accurate and reliable, or that public funds are properly spent, accounted for and managed.”*(AGO)

The issue is will Aljunied voters repent voting WP? Or will they be so annoyed that die-die will support WP. Before answering, do remember that the PAP only needs a 5 percentage points swing to win back the GRC.

Meanwhile Auntie and her Singh will have to haul the garbage bins. Let’s hope they are better cleaners than lawyers. Seriously as a trained lawyer, I’m appalled that they and Chen Show Mao allowed this

  • inadequate oversight of related party transactions involving ownership interests of key officers, hence risking the integrity of such payments

LAPSES IN GOVERNANCE OF RELATED PARTY TRANSACTIONS

The town council did not fully disclose the related party transactions in its financial statements, nor did it adequately manage the conflicts of interests of related parties arising from ownership interests of its key officers, in contracts amounting to about S$25.9 million in total, the AGO said.

For example, the AHPETC Secretary was the owner of FM Solutions and Integrated Services (FMSI) – one of two companies engaged to carry out managing agent services, as well as essential maintenance and lift rescue (EMSU) jobs. The Secretary, General Manager and Deputy General Manager of AHPETC were directors and shareholders of the other company, FM Solutions and Services (FMSS), the AGO said.

“The key officers of AHPETC who had ownership interests in FMSS and at the same time performed a role (for AHPETC) in approving payments to FMSS were in clear conflicts of interests,” the AGO said. For example, the town council’s General Manager both issued payment claims as director of FMSS while approving the payment as AHPETC staff.

https://atans1.wordpress.com/2015/02/10/conflicts-of-interest-what-conflicts/

As I said, if this had happened at the club where I was Hon Treasurer, not only would have the Committee been booted out but I’m sure members would have lodged a police report, and complained to the registrar of societies. Btw, a PAP MP was the chairman.

Can readers help me by telling if among the WP’s many words, they apologised for the failure to manage the many conflicts-of -interest better. I can’t find any “We goofed. Sorry.”

For the record: My other election guess in the past (2013) https://atans1.wordpress.com/2013/12/13/why-a-2015-ge-is-now-more-probable/

*Another example of the anti-PAP cyber-nuts’ thinking. When AGO was appointed, the by the PAP administration, they said AGO would clear WP. Now they calling AGO part of “fix” WP team.

  1. March 28.

  2. 26 September 2015

  3. No worries man!! As I said many times before, GE will be soon after Natl Day 2015.

    Reasons:
    1. Rah-rah overdose of propaganda for SG50.

    2. Tie in special ang baos for SG50 — all Sinkies below 65 gets $888 cash. All Sinkies >=65 gets $1,888 cash. No CPF portion, no Medisave portion, no double-speak accounting shenanigans. Just pure unadulterated cash going into your bank accounts.

    3. Property market & overall economy getting worse into 2016. PAPies need to strike when the iron is relatively hot now (but alrdy cooling). By mid-2016, mass Sinkies will be KPKB about rising retrenchments, mass job losses, collapsing property prices, commodity inflation (esp. oil & electricity). Very hard for PAPies to solve by then.

    4. Continuous bombardment of WP and showcase negative example how opposition cannot even run a single GRC properly. The PAPies have been planning this since 2012/2013 liao, with AIMgate, and inability of WP to submit MND-mandated format for financial reports.

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