Thursday, November 20, 2008

Teo Ho Pin: Still proud to vote for him?

I wonder if Yaw Shin Leong will retract his endorsement of Teo Ho Pin after the revelations of town council fund mismanagement.

Be thankful to Dr Teo Ho Pin for illustrating the PAP’s hubris and arrogance

by Ng E-Jay
20 November 2008

According to an article entitled “Dr Teo says ‘be thankful’” which was published in the TODAY newspaper on 19 Nov, Dr Teo Ho Pin, MP for Holland-Bukit Panjang, says residents should be thankful that their Constituency’s funds have grown under the Town Council’s watch.

He was referring to earlier revelations in Parliament that eight PAP Town Councils have about $16 million invested in troubled structured products, of which the lion’s share of $8 million is from Holland-Bukit Panjang.

Dr Teo was quoted by TODAY newspaper as saying that the potential $8 million loss suffered by Holland-Bukit Panjang Town Council “should be viewed in the context of the $24 million in investments generated over the past six years“, and that “if the Town Council had invested all its funds in low-risk investments, it would have earned only $5 million.”

My opinion is that rather than giving our thanks to Dr Teo Ho Pin, who is incidentally Coordinating Chairman for all the 14 PAP Town Councils, for generating positive returns for Town Council funds over the past six years, we should instead be grateful that he has beautifully illustrated the sheer level of hubris and arrogance of the PAP.

Read rest of article here


SM Goh should send Teo Ho Pin to learn from Hougang Town Council to keep PAP MPs on their toes

By Eugene Yeo
19 Nov 2008

On 26 July this year, SM Goh urge PAP members to play the role of an “effective opposition” in his speech at the Hougang National Day Dinner at Hougang Community Club:

“In Hougang, let us keep Mr Low Thia Khiang on his toes. He is responsible for running the Hougang Town council. But unlike Parliament, town councils do not have open meetings where members from other political parties can question their performance.

So, in Hougang, you have to be creative to be an effective opposition. Amongst the things you can do, I suggest you study the annual accounts of the town council to ensure that the funds are properly used. Check whether the arrears for S & C charges are piling up, and eating into their reserves. Make sure that enough money is put aside for cyclical maintenance.”

Now who has been playing the role of a watchdog on PAP - managed Town Councils ?

Read the rest of the article here.

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