Singapore’s creative Budget accounting (1)
The budget for F/Y 2014 has been published. At first glance, it shows a budget DEFICIT of $1.16 billion (0.3% of GDP). THIS IS BULLSHIT. If the budget complies with the standards of the International Monetary Fund it would show a SURPLUS of well over $10 billion (2.5% of GDP). One major item which was splashed all over the...
Over 10 years of omissions in PA’s financial statements
The People’s Association (PA) has had the ratings of “adverse opinion” given to its annual audits by its auditors for the years 2008 to 2011, reported website TR Emeritus. However, The Online Citizen has viewed the annual reports of the People’s Association (PA), from the years of 2001 to 2010. In all these years, the...
AHPETC – A battle for transparency and propriety
Ng Eng Hen is furious with the poor verdict of Transparency International on how his ministry spent money on the purchase of weapons. TI ranked Singapore together with Afghanistan and Iraq, in another word, our integrity in procurement is at the same level at these 3rd World countries, or at least in the Defence Ministry. The...
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