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Saturday, 15 August 2015

Teo Chee Hian Wants To Take Back Aljunied GRC

If Sylvia Lim from Workers Party can do a smokescreen, so can Teo Chee Hian from the PAP.
No, I'm just kidding. The PAP has yet to learn how to create fogginess, and even if they do the WP has by now perfected that many miles ahead.
What DPM Teo just said is like throwing a glass of clear water. You don't get smoke by throwing clear water can you? It is no secret that the PAP intends to take back Aljunied GRC and Punggol East and that is not impossible.
The PAP owes a duty to those who voted them to win back Aljunied GRC and Punggol East. The PAP who had served there had accumulated on behalf of residents monies in the sinking fund as well as operational surpluses.
It is still foggy as to the financial status of the town council ever since it was handed over to the Workers Party. A bank account consisting of monies belonging to residents of the constituencies accounting for sinking fund and operational surpluses are reportedly not accounted for according to statutory requirements.
I do not think that by now we should be talking about requiring the Workers Party to come clean on its accounts and make them up to date for public scrutiny.
I believe that every political party must have its town council accounts readily available for public scrutiny by Election Day. Election Day is the dividing line as to whether the town council remains with the incumbent or it will be taken over by another party.
A town council's performance that includes its financial status are a significant part of what voters look for in deciding who to vote for in the election.
By not having its accounts ready for public scrutiny is somewhat akin to hijacking the democratic process of the General Election. You leave voters "No Choice" to vote one party in order to have it finish its unfinished jobs, or to vote one party out to allow another party to pick up the pieces. Either way, voters have no "willing choice".
At least if the accounts are available for public scrutiny, and it is in the deficit, it allows voters to make a willing and intelligent choice of voting one party even if it runs the town council into deficit. This is democracy.
I know some people will ask me what about Lehman Brothers? The brothers are assuredly resting peacefully, and if you are referring to Teo Ho Pin's losses in investable funds, then listen.
I am no fan of Teo Ho Pin's investment strategy nor decisions. But that won't make me in agreement with those who argues that losses in investable funds are the same as sinking funds and operational funds not properly accounted for..
I would have accord the Workers Party same response and treatment if it is only about investable funds in question. I may even side with it if its investment strategy is superior to that of Teo Ho Ping.
But it is not the same with operational funds. These monies are for paying contractors so that they can pay their workers salaries, and pay for materials they use.
Sinking funds are savings put aside for major repairs and replacements, and they are untouchable until called for.
The losses made by Teo Ho Pin's town council are all accounted for, every dollar. But to date, even the Chief Justice is asking if there is a possibility of insolvency pointing to AHPETC's financial accounts.
So I think for now, the demand by Aljunied GRC and Punggol voters is for the Workers Party to quickly present its latest up to date financial statements so that a fair democratic process can take place without running questionable..

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