Singapore election 2015

[Arcachon]

Take 5 with Arnold: What led to the landslide PAP victory?

http://www.straitstimes.com/politics...ideo_m=1340130

[star]

We got a few disappointed forumers here lol.

[kellogs]

Majulah Singapura!!!

[moneytalk]

A clean sweep might not benefit anyone and there might be payback issues down the road.

There is importance in the mandate being 69.9.

I agree with you that this is the best outcome.

Thank God for blessing this nation and please continue to bless our little red dot for many, many more years.

Majulah Singapura!!!

Yes, Majulah Singapura!

[teddybear]

Ok, the voters had given a strong mandate for 6.9 Million population!

property owners here HENG ah! HUAT ah!

I agree with you that this is the best outcome.

Thank God for blessing this nation and please continue to bless our little red dot for many, many more years.



Yes, Majulah Singapura!

[kellogs]

Dear MoneyTalk,

Yes I agreed with you. Thank god and thank for citizen snow white eyes can differentiate what is the real deal and what is smoke!!!

Lets all work together for a better Singapore and continue late Mr Lee legacy!

Majulah Singapura!

I agree with you that this is the best outcome.

Thank God for blessing this nation and please continue to bless our little red dot for many, many more years.



Yes, Majulah Singapura!

[irisng]

I agree with you that this is the best outcome.

Thank God for blessing this nation and please continue to bless our little red dot for many, many more years.



Yes, Majulah Singapura!

Hurray Singapore!

Can anyone remember, for the previous years' GE voting cards, is there any PAP/opposition party photos printed on the card, if not, I think our government this time has made a smart move, because I think most ah gong and ah ma only recognize our MP by their faces and not sure about the represented sign. My friend told me that her mother said she wanted to vote the pretty lady who gave her the ang pao but doesn't know who she is (actually she is from PAP). During GE 2011, another of my friend's mother asked her, I want to vote for PAP, which box should I cross, and my friend told her to cross on a lightning sign.

[Citizen]

Ok, the voters had given a strong mandate for 6.9 Million population!

property owners here HENG ah! HUAT ah!

Master Bear dun despair, maybe the interest rate hike will crash the property price.

[irisng]

It was blessed that PAP got the majority of the seats. Lots of people complained that WP Mr Xxx was so arrogant this time, some said because Mr Lee KY was not around already so he has no one to be afraid liao.
Can't imagine,, he hasn't really got a "good secure" of the seat in Parliament yet but already so arrogant, what happen if he got the majority of the seat, what will happen to S'pore by then.

[Citizen]

Master Bear dun despair, maybe the interest rate hike will crash the property price.

Nevertheless who care about property investment for retirement, we will have better interest rate for our RA in CPF.

[teddybear]

Better interest rate for your RA in CPF enough to fill you stomach?

I rather take my money out, let others earn better interest rate.......

Nevertheless who care about property investment for retirement, we will have better interest rate for our RA in CPF.

[Citizen]

Better interest rate for your RA in CPF enough to fill you stomach?

I rather take my money out, let others earn better interest rate.......

Master Bear you know how to predict future , many folks like me dun know, so I rather believe AAA govt than non rated con man.

[kellogs]

[amk]

A clean sweep might not benefit anyone and there might be payback issues down the road. 9.

I was joking

This result confirmed my observation : Singaporeans are after all savvy enough to know what to vote. We are mostly pragmatic ppl, we do want and get the best of both sides. When you do good, you will be rewarded. When you slack, you get punished.

Oppo camp must wake up to this ridiculous illusion that "PAP only gets the vote by hiding the truth, manipulating media, instilling fear, and relying on ignorant uneducated masses", and once ppl "know the truth ppl will vote oppo by definition". Such illusion was so strong, so many oppo supporters genuinely believe in it. ( hence the idea of "only we know the truth"). you dun need to go very far to find this theory in almost every forum including this one. where righteous sounding oppo posts make it all look so matter of course. I think as a result of this, oppo camps get complacent, taking the huge crowd for granted, and is caught completely off guard by this result. Look at how Tan Jee Say and K Jeyaretnam said in disbelief "results not tally with the ground".

Just look at LTK. Over the years, he has not improved a single bit. Still the same rah rah crowd pleaser. To be honest I very much prefer Chee SJ over LTK to be in the parliament. LTK gets too carried away by the crowds. he should know: many ppl just went there for the show. We are not as easily swayed as you think. Theatrics is not enough. You really think singaporeans are a bunch of lazy ppl who just conveniently vote the incumbent ? No, we are knowledegable enough and do evaluate the odds to extract the best benefit from both you and PAP

[kellogs]

Well said !!!

[irisng]

I was joking

This result confirmed my observation : Singaporeans are after all savvy enough to know what to vote. We are mostly pragmatic ppl, we do want and get the best of both sides. When you do good, you will be rewarded. When you slack, you get punished.

Oppo camp must wake up to this ridiculous illusion that "PAP only gets the vote by hiding the truth, manipulating media, instilling fear, and relying on ignorant uneducated masses", and once ppl "know the truth ppl will vote oppo by definition". Such illusion was so strong, so many oppo supporters genuinely believe in it. ( hence the idea of "only we know the truth"). you dun need to go very far to find this theory in almost every forum including this one. where righteous sounding oppo posts make it all look so matter of course. I think as a result of this, oppo camps get complacent, taking the huge crowd for granted, and is caught completely off guard by this result. Look at how Tan Jee Say and K Jeyaretnam said in disbelief "results not tally with the ground".

Just look at LTK. Over the years, he has not improved a single bit. Still the same rah rah crowd pleaser. To be honest I very much prefer Chee SJ over LTK to be in the parliament. LTK gets too carried away by the crowds. he should know: many ppl just went there for the show. We are not as easily swayed as you think. Theatrics is not enough. You really think singaporeans are a bunch of lazy ppl who just conveniently vote the incumbent ? No, we are knowledegable enough and do evaluate the odds to extract the best benefit from both you and PAP

Action speaks louder than words. All these years, we have been seeing, there are lots of upgrading and improving projects going on, we should appreciate what our government has done for us, at least most Singaporeans do, thumb up Singaporeans.

[teddybear]

Back to the topic of Punggol East SMC Financial Accounts, we definitely want to know the truth, and the news media has not been questioning the below 3 PAP MPs giving 4 different figures - I quote what I read elsewhere (and the news media do not even seem to catch the conflicting statements?), their statements which also confuses me:

1) Charles Chong who said PAP handed over to WP with $1 Million surplus;

2) Zainal Sapari who said PAP handed over to WP with $804,945 surplus As at 31 Mar 2012 and actual net surplus of $21,363 on 30 Apr 2013;

In his own words: "At the handover to AHPETC on 30 Apr 2013, although there was a deficit in the accumulated routine fund of $282,009, the same set of accounts also showed an amount of $303,372 claimable as reimbursement from the CIPC fund, which PRPGTC had already secured for Punggol East SMC. This was made known by PRPGTC to AHPETC at the point of takeover of Punggol East’s accounts and monies, which would give an actual net surplus of $21,363."
"As at 31 Mar 2012, the last full-year audited accounts before the by-election, there was an accumulated routine fund surplus of $804,945 for Punggol East SMC."

3) Teo Chee Hean, who said that PAP handed over to WP $22 Million cash;


So, 3 PAP MPs, 4 different figures, who is telling the truth?
And why Zainal mentioned a figure for 31 Mar 2012 when the Account Statement should be the figure on 30 Apr 2013 when PAP handed over to WP?

WP asked PAP MPs to clarify, but PAP MPs did not provide their definitive clarification to clarify their above conflicting statements.

At least, I can be sure that (2) Zainal is definitely wrong in accounting terms because anybody with basic accounting knowledge will know that you can't add the Net Income line (in this case a $282k deficit) to "Accountable Receivables" of $303k and claim that there is a Net Surplus! Doing so is definitely double counting the $303k in P&L statements! Misleading isn't it? Either Zainal is an accounting idiot or ?

So amk, you in financing line right? I suppose you should know accounting very well, what say you about the above statement by Zainal claiming a net surplus by adding net deficit to Account Receivables?

Actions speak louder than words?
I can be sure that somebody must be wrong in the 3 statements they quoted, so who is telling the truth and who is making misleading statements?

Also, it seems that throwing lots of benefits at the voters (pre-election) do make wonders isn't it?

I am afraid throwing benefits at the people is no better than promising better welfare system in other countries which is designed to "win" votes.

Action speaks louder than words. All these years, we have been seeing, there are lots of upgrading and improving projects going on, we should appreciate what our government has done for us, at least most Singaporeans do, thumb up Singaporeans.

I was joking

This result confirmed my observation : Singaporeans are after all savvy enough to know what to vote. We are mostly pragmatic ppl, we do want and get the best of both sides. When you do good, you will be rewarded. When you slack, you get punished.

Oppo camp must wake up to this ridiculous illusion that "PAP only gets the vote by hiding the truth, manipulating media, instilling fear, and relying on ignorant uneducated masses", and once ppl "know the truth ppl will vote oppo by definition". Such illusion was so strong, so many oppo supporters genuinely believe in it. ( hence the idea of "only we know the truth"). you dun need to go very far to find this theory in almost every forum including this one. where righteous sounding oppo posts make it all look so matter of course. I think as a result of this, oppo camps get complacent, taking the huge crowd for granted, and is caught completely off guard by this result. Look at how Tan Jee Say and K Jeyaretnam said in disbelief "results not tally with the ground".

Just look at LTK. Over the years, he has not improved a single bit. Still the same rah rah crowd pleaser. To be honest I very much prefer Chee SJ over LTK to be in the parliament. LTK gets too carried away by the crowds. he should know: many ppl just went there for the show. We are not as easily swayed as you think. Theatrics is not enough. You really think singaporeans are a bunch of lazy ppl who just conveniently vote the incumbent ? No, we are knowledegable enough and do evaluate the odds to extract the best benefit from both you and PAP

[teddybear]

And to quote K Shanmugam words:

“These are all in people’s minds. People won’t know the details, they won’t know the ins and outs, they won’t know the balance sheets. But they know something is wrong. Not just that something is wrong, but they also know there is constant evasion.”

Given that the news media did not write about and question the below 3 conflicting statements that I lifted from the social media/internet, and people won't know the details, they won't know the ins and outs, they don't know how to read financial statements and the balance sheets, is it any wonder that many people doubted WP statements on Punggol East SMC?

Is this the reason why our news media has been ranked 153th in the world?

And isn't it evasion on PAP part on not giving their definitive clarification on their conflicting statements?

Back to the topic of Punggol East SMC Financial Accounts, we definitely want to know the truth, and the news media has not been questioning the below 3 PAP MPs giving 4 different figures - I quote what I read elsewhere (and the news media do not even seem to catch the conflicting statements?), their statements which also confuses me:

1) Charles Chong who said PAP handed over to WP with $1 Million surplus;

2) Zainal Sapari who said PAP handed over to WP with $804,945 surplus As at 31 Mar 2012 and actual net surplus of $21,363 on 30 Apr 2013;

In his own words: "At the handover to AHPETC on 30 Apr 2013, although there was a deficit in the accumulated routine fund of $282,009, the same set of accounts also showed an amount of $303,372 claimable as reimbursement from the CIPC fund, which PRPGTC had already secured for Punggol East SMC. This was made known by PRPGTC to AHPETC at the point of takeover of Punggol East’s accounts and monies, which would give an actual net surplus of $21,363."
"As at 31 Mar 2012, the last full-year audited accounts before the by-election, there was an accumulated routine fund surplus of $804,945 for Punggol East SMC."

3) Teo Chee Hean, who said that PAP handed over to WP $22 Million cash;


So, 3 PAP MPs, 4 different figures, who is telling the truth?
And why Zainal mentioned a figure for 31 Mar 2012 when the Account Statement should be the figure on 30 Apr 2013 when PAP handed over to WP?

WP asked PAP MPs to clarify, but PAP MPs did not provide their definitive clarification to clarify their above conflicting statements.

At least, I can be sure that (2) Zainal is definitely wrong in accounting terms because anybody with basic accounting knowledge will know that you can't add the Net Income line (in this case a $282k deficit) to "Accountable Receivables" of $303k and claim that there is a Net Surplus! Doing so is definitely double counting the $303k in P&L statements! Misleading isn't it? Either Zainal is an accounting idiot or ?

So amk, you in financing line right? I suppose you should know accounting very well, what say you about the above statement by Zainal claiming a net surplus by adding net deficit to Account Receivables?

Actions speak louder than words?
I can be sure that somebody must be wrong in the 3 statements they quoted, so who is telling the truth and who is making misleading statements?

Also, it seems that throwing lots of benefits at the voters (pre-election) do make wonders isn't it?

I am afraid throwing benefits at the people is no better than promising better welfare system in other countries which is designed to "win" votes.

I was joking

This result confirmed my observation : Singaporeans are after all savvy enough to know what to vote. We are mostly pragmatic ppl, we do want and get the best of both sides. When you do good, you will be rewarded. When you slack, you get punished.

Oppo camp must wake up to this ridiculous illusion that "PAP only gets the vote by hiding the truth, manipulating media, instilling fear, and relying on ignorant uneducated masses", and once ppl "know the truth ppl will vote oppo by definition". Such illusion was so strong, so many oppo supporters genuinely believe in it. ( hence the idea of "only we know the truth"). you dun need to go very far to find this theory in almost every forum including this one. where righteous sounding oppo posts make it all look so matter of course. I think as a result of this, oppo camps get complacent, taking the huge crowd for granted, and is caught completely off guard by this result. Look at how Tan Jee Say and K Jeyaretnam said in disbelief "results not tally with the ground".

Just look at LTK. Over the years, he has not improved a single bit. Still the same rah rah crowd pleaser. To be honest I very much prefer Chee SJ over LTK to be in the parliament. LTK gets too carried away by the crowds. he should know: many ppl just went there for the show. We are not as easily swayed as you think. Theatrics is not enough. You really think singaporeans are a bunch of lazy ppl who just conveniently vote the incumbent ? No, we are knowledegable enough and do evaluate the odds to extract the best benefit from both you and PAP

[Arcachon]

You remember what you say, we remember who we vote for.

https://www.pap.org.sg/_Ive_saved_a_...or_you/Article

[Arcachon]

[Citizen]

Master Bear , do something constructive like predict or time the property market so all the Masters here can be benefitted instead of beat around the bush. Doing CSI or post-mortem.

[teddybear]

Who you vote for is your right and I can't be bothered, my question is:
Do you know the truth about the 3 conflicting statements on the same issue on Punggol East SMC Financial Accounts made by the 3 PAP MPs?

I suppose to improve Singapore's news media ranking from 153th in the world, they really need to be seen to be impartial and asking hard questions regardless of who they are who made conflicting statements?

You remember what you say, we remember who we vote for.

https://www.pap.org.sg/_Ive_saved_a_...or_you/Article

[teddybear]

So minority the biggest liar and scambag has nothing to say now?

No? Ha ha ha!

Now now, we see that minority is out to lie again!

You should tell that to the Hougang ex-landlords!

By the way, Low Thia Khiang ever challenged Lee Kuan Yew to stand for election in Hougang to kick him out, why he didn't?

May be Lee Kuan Yew thought that if he go to stand for election in Hougang, he will also lose to Low Thia Khiang there?

Why?

I know the reason very well, do you?

Hint: LTK mentioned something about this "Compulsory Land Acquisition Act" a few days ago in his rally speak

Hint hint: (many ex-landlords there!).

If they are paid market rate at that time (and not significantly below market rate at that time), you think they so unhappy?

Also, according to 1973 "Compulsory Land Acquisition Act", all land to be acquired by government are frozen at 1973 price! Yes, that is it!

In 1982, Government acquired the land in Tampines for $0.60 psf! (yes, the landlords were paid 1973 price of $0.60 psf!)(Note: Not psf ppr hor!)
What was the market rate at that time? Wow, >$90 psf!
$0.60/90 = 0.67% !
That is even less than 1% !

We were the affected party! And this is history and people don't know? Wow!!!!!!!

[Simi]

Back to the topic of Punggol East SMC Financial Accounts, we definitely want to know the truth, and the news media has not been questioning the below 3 PAP MPs giving 4 different figures - I quote what I read elsewhere (and the news media do not even seem to catch the conflicting statements?), their statements which also confuses me:

1) Charles Chong who said PAP handed over to WP with $1 Million surplus;

2) Zainal Sapari who said PAP handed over to WP with $804,945 surplus As at 31 Mar 2012 and actual net surplus of $21,363 on 30 Apr 2013;

In his own words: "At the handover to AHPETC on 30 Apr 2013, although there was a deficit in the accumulated routine fund of $282,009, the same set of accounts also showed an amount of $303,372 claimable as reimbursement from the CIPC fund, which PRPGTC had already secured for Punggol East SMC. This was made known by PRPGTC to AHPETC at the point of takeover of Punggol East’s accounts and monies, which would give an actual net surplus of $21,363."
"As at 31 Mar 2012, the last full-year audited accounts before the by-election, there was an accumulated routine fund surplus of $804,945 for Punggol East SMC."

3) Teo Chee Hean, who said that PAP handed over to WP $22 Million cash;


So, 3 PAP MPs, 4 different figures, who is telling the truth?
And why Zainal mentioned a figure for 31 Mar 2012 when the Account Statement should be the figure on 30 Apr 2013 when PAP handed over to WP?

WP asked PAP MPs to clarify, but PAP MPs did not provide their definitive clarification to clarify their above conflicting statements.

At least, I can be sure that (2) Zainal is definitely wrong in accounting terms because anybody with basic accounting knowledge will know that you can't add the Net Income line (in this case a $282k deficit) to "Accountable Receivables" of $303k and claim that there is a Net Surplus! Doing so is definitely double counting the $303k in P&L statements! Misleading isn't it? Either Zainal is an accounting idiot or ?

So amk, you in financing line right? I suppose you should know accounting very well, what say you about the above statement by Zainal claiming a net surplus by adding net deficit to Account Receivables?

Actions speak louder than words?
I can be sure that somebody must be wrong in the 3 statements they quoted, so who is telling the truth and who is making misleading statements?

Also, it seems that throwing lots of benefits at the voters (pre-election) do make wonders isn't it?

I am afraid throwing benefits at the people is no better than promising better welfare system in other countries which is designed to "win" votes.

Remember I wrote this ?
Win the peoples' heart and you win the heaven and the earth


"If you cant beat them confuse them" then "You divide and conquer them" ~ Harry S Truman
“It's easier to fool people than to convince them that they have been fooled.” ~ Mark Twain
"If you tell a lie and keep repeating it people will eventually come to believed it" ~ Vladimir Lenin
"Man is an intelligent in servitude to his organ" ~ Aldous Huxley
"To conquer a country first disarmed its citizens" ~A.Hitler

Now see if you can use the above to device a stratagem to win the hearts of the people and beat the opponent

This is politics
You either win or you lose

[Citizen]

Remember I wrote this ?
Win the peoples' heart and you win the heaven and the earth


"If you cant beat them confuse them" then "You divide and conquer them" ~ Harry S Truman
“It's easier to fool people than to convince them that they have been fooled.” ~ Mark Twain
"If you tell a lie and keep repeating it people will eventually come to believed it" ~ Vladimir Lenin
"Man is an intelligent in servitude to his organ" ~ Aldous Huxley
"To conquer a country first disarmed its citizens" ~A.Hitler

Now see if you can use the above to device a stratagem to win the hearts of the people and beat the opponent

This is politics
You either win or you lose

Master Simi, I remember a old lady said this "she was living in LKY constitute, she went to see him, she told him she was poor and having 3 children , LKY told her to endured hardship and work hard to bring up the kids and didn't really help her directly and individually". she is so appreciate of LKY work for the nation now. The moral of the story, you have to plan for the whole not individual, when nation progress most will be benefitted.

[amk]

To teddy, it's ok I show you my perspective on the accts. tch's 22mil is irrelevant, I agree with WP. The 200k deficit is operating deficit. The 300k something i suspect is a sum it can claim from some stat board or quasi state board, not part of the receivable, but as additional income. You think it is already in the receiveable, well I dun know, WP should know. Dun forget breakin a budget mid term is always tricky, and i can always do some window dressing every year, to make an acct balanced. So this 2/300 k accting game is no big deal. Neither is WP's council making loss or not (operating deficit is no big deal, as long as it can be balanced by some way, in this case WP thinks by the grants)
Of all these town council stories, the only thing that is particularly objectionable this time for me as a voter is this : LTK blatantly does not admit giving a contract to his own ppl who still sit in the council at the time, is a bad idea. You cannot do this connected party transaction and be proud of it. You can simply say alright this is indeed not nice, we learned ( cause we were indeed inexperienced). But no, his ego is too high to even admit this. A friend was joking with me the othe day, saying " had this been in the 80s, LKY would probably find a top lawyer to find some obscure rules in the law to make this criminal, and once and for all get rid of the whole lot". I dun think the deficit story made that much a difference, but this "giving contract to own ppl" did.

[star]

What i don't like about opposition supporters is they r rude, keep posting on internet the whole time and all year long and making jokes on ministers or MPs. The majority Singaporeans is fed up with the plank or jokes on PAP in internet post by opposition supporters. Yes keep posting negatively can post photoshop pics with ministers face and u pissed us. Prepare for hougang and aljunied lost in 2019 if u keep doing that.

[Simi]

Master Simi, I remember a old lady said this "she was living in LKY constitute, she went to see him, she told him she was poor and having 3 children , LKY told her to endured hardship and work hard to bring up the kids and didn't really help her directly and individually". she is so appreciate of LKY work for the nation now. The moral of the story, you have to plan for the whole not individual, when nation progress most will be benefitted.

Master Citizen

you are wise and clever
A wise leader does not necessary be a benevolence man



can you remember what our late PM Lee said of the Tiananmen Square massacre ?

[teddybear]

To amk,
I am surprised by your reply as follows:
"The 300k something i suspect is a sum it can claim from some stat board or quasi state board, not part of the receivable, but as additional income. You think it is already in the receiveable, well I dun know, WP should know. Dun forget breakin a budget mid term is always tricky, and i can always do some window dressing every year, to make an acct balanced."

Your reply tells me that you are not familiar with accounting and you don't know how "account receivables" are booked with respect to revenue etc, just like the >90% of Singaporeans who are clueless.

Just to state first that my below response is based on facts and what we know, and what we can conclude etc, not just blindly siding with 1 party or another. At the end of the day, one cannot deny that PAP has governed Singapore well, and I salute that, but still, I believe it can do better on the front of being transparent, like on SWFs (as transparent as Norway SWF), and being more compassionate for those "have nots" and those with special needs and escalating medical costs.

Ok, let me address your doubts and summarize my findings and conclusions regarding the Punggol East (PE) Financial Statements that we saw (dated 30 Apr 2013):

a) The $303k is a grant from CCC (Citizen Consultative Committee) secured by the PAP team (sometime in 2012 or 2013?), not WP.

b) The $303k has been booked as "Account Receivables" (AR) in the Balance sheet by PAP, which means that that it MUST already had been recognized as "Revenue" in Profit & Loss Statement (I would have no doubt about this if the PE Financial Statements had been properly drawn up according to Accounting rules).

c) The $303k still has not been paid to WP until now (but this "Revenue" had already booked).

d) The Punggol East Financial Statements dated 30 Apr 2013 had been drawn up by the PAP members (not WP members) and signed off by Chairman Zainal Bin Sapari (not WP members) & audited by E&Y (you can read the PE financial statements and confirm that yourselves), hence you doubting WP about the PE Financial Statements (dated as of 30 Apr 2013) is doubting the wrong party.

I will go into the detail explanations of how I arrive at my above conclusions later. Please correct me if I am wrong.


Let me state a fact first: Zainal Sapari, the PAP Pasir Ris-Punggol GRC Town Council Chairman, had signed off on the full PE Financial Statements that we saw (released by WP and this statements was never disputed by PAP as being fake).
So, I suppose this PE Financial Statements should be truthful otherwise why Zainal signed off on it as the financial accounts being handed over from PAP to WP?

Is anybody questioning that Zainal as a TC Chairman had signed off the PE financial statements blindly without understanding what he signed off and never ensuring that some accountant in his Town Council had drawn up the account and doubled checked that the account was truthful?
Wasn't this PE Financial Statements drawn up by the PAP (since they are initially in charge of PE)? WP as the party taking over is supposed to check the correctness of the account and there is no way WP can window dress that 30 March 2013 PE Account?

Now, We found the $303k in "Account Receivables" under Balance Sheet statement, and this is some grant from CCC (Citizen Consultative Committee) that had been booked in the Balance Sheet.
I believe you know what is "Double Entry Accounting", what is "Accrual Accounting"?
If not, you won't understand what I am talking about, nor >90% of the Singaporeans who has no accounting knowledge. No wonder so many can be smoked!

Ok, let's get back to "forensic" accounting: The fact that $303k CCC grant had been found in "Account Receivables" tell us that this amount, $303k, had been booked as revenue!
Once the $303k grant had been booked as revenue, it must had also been recorded in Profit & Loss Statements! Otherwise, the Account "book" will not balanced!
You just can't record a $303k figure as "Account Receivables" in the Balance Sheet without simultaneously recording that as a revenue in the Profit & Loss Statement - That is the rule of "Double Entry Accounting"! (Note: When they booked that $303k as revenue I don't know, it can be in 2013 (when they handed over) or in FY2012, the time when the $303k had been secured from CCC).

And then people get confused here again, and some spreading rumours and lies saying that just because WP has yet to receive the $303k means WP should just add the $303k back to Net Income line of -$282k and they will get surplus! What stupid idiot!

Fact is, because of ""Accrual Accounting" rules, PAP had already "booked" the $303k as "potential revenue" in the P&L Statements, hence the $303k can appear as "Account Receivables" (i.e. revenue booked but money yet to be received in cash) in the Balance Sheet. So, how many times they want to count that $303k in their P&L?! The joke is that if they can add "Account Receivable" to Net Income line and claim they made more surpluses, they are better than Enron in "Creative Accounting"!

If you don't believe what I said about the AR, please consult a Chartered Accountant to verify.................

About what you said about "giving a contract to his own ppl who still sit in the council at the time", well legally there is nothing wrong, but technically I have to agree that is not the right thing to do, and best avoided.

On the other hand, can you explain what about AIM?
If the CEO of a public listed company sells the asset of the company worth $24M for a few tens of thousand dollars to his friends/associates, my understanding is that that is a "criminal offence" right?

So do you agree that AIM transaction is a criminal offence if Town Council is treated like publicly listed company? And You are not concerned and objectionable about AIM?

Back to you for the brain teasing questions.........

To teddy, it's ok I show you my perspective on the accts. tch's 22mil is irrelevant, I agree with WP. The 200k deficit is operating deficit. The 300k something i suspect is a sum it can claim from some stat board or quasi state board, not part of the receivable, but as additional income. You think it is already in the receiveable, well I dun know, WP should know. Dun forget breakin a budget mid term is always tricky, and i can always do some window dressing every year, to make an acct balanced. So this 2/300 k accting game is no big deal. Neither is WP's council making loss or not (operating deficit is no big deal, as long as it can be balanced by some way, in this case WP thinks by the grants)
Of all these town council stories, the only thing that is particularly objectionable this time for me as a voter is this : LTK blatantly does not admit giving a contract to his own ppl who still sit in the council at the time, is a bad idea. You cannot do this connected party transaction and be proud of it. You can simply say alright this is indeed not nice, we learned ( cause we were indeed inexperienced). But no, his ego is too high to even admit this. A friend was joking with me the othe day, saying " had this been in the 80s, LKY would probably find a top lawyer to find some obscure rules in the law to make this criminal, and once and for all get rid of the whole lot". I dun think the deficit story made that much a difference, but this "giving contract to own ppl" did.

[teddybear]

Heard that there is such thing called PAP IBs and supporters on the social media and internet everywhere as well, broadcasting half-truths and misleading statements, e.g. on recent saga regarding AHPETC financial accounts and Punggol East Financial Statements and claiming they know accounting very well to come to those conclusions, so are they any better?

What i don't like about opposition supporters is they r rude, keep posting on internet the whole time and all year long and making jokes on ministers or MPs. The majority Singaporeans is fed up with the plank or jokes on PAP in internet post by opposition supporters. Yes keep posting negatively can post photoshop pics with ministers face and u pissed us. Prepare for hougang and aljunied lost in 2019 if u keep doing that.