Deficit

WP'S FMSS ACCUSED OF MAKING $2.5 MILLION PROFIT WHEN AHPETC SUFFERS $3.5 MILLION DEFICIT

The Ministry of National Development announced on Saturday that AHPETC's managing agent, FM Solutions and Services (FMSS) has been "profiteering" off the town council. MND claims that after a review of FMSS's auditor, Teo Liang Chye and Co, when AHPETC suffered an operating deficit of $2 million dollars, FMSS made an after-tax profit of $2 million after paying its directors $1.14 million.

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VOTE FOR THE PARTY WHOM YOU TRUST TO MANAGE YOUR MONEY?

Hougang town council was running a deficit, they took over Aljunied, a town council which was in surplus (following the 2011 General Election). They took over Punggol East from Pasir Ris-Punggol town council which was also in surplus. Now the whole Aljunied-Hougang-Punggol East Town Council (AHPETC) is in deficit,” “How did that happen, how did a large surplus turn into deficit? Where did the money go?”

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