WP: $3.5M CLAIM FROM FMSS WILL NOT AFFECT AHPETC ACCOUNTS

According to Worker’s Party (WP) chairwoman Sylvia Lim, the legal demand for $3.5 million in unpaid fees to FM Solutions & Services (FMSS), the former Managing Agent of the WP-run Aljunied Hougang Punggol East Town Council (AHPETC), will not affect AHPETC’s bottomline.

In a New Paper report, it was reported that FMSS had sent a letter of demand to AHPETC in July this year, seeking payment for $3.5 million worth of contracts owed to it.

In fact, Sylvia Lim clarified that AHPETC had already made a substantial amount of payments to FMSS.

Speaking to reporters today at the WP’s headquarters, where they also introduced their last round of candidates, Ms Lim said the payments are for projects handled by FMSS during its term as the Town Council’s managing agent. FMSS had been authorised to act as a project manager for the town council, and thus the company was allowed to claim a percentage of the project value as additional fees – this is on top of managing agent fees, she added.

The $3.5 million amount, thus, had “nothing to do” with managing agent fees, and are related to sinking fund expenditure, said Ms Lim.

“They do not actually affect the bottomline in terms of surplus and deficit of the accounts.”

She also mentioned that some payments to FMSS were withheld as the town council “has some questions about those claims”.

“So the letter is old news because it has been overtaken by events,” she said.

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