Saturday, May 01, 2010

Town Councils and Pinnacle Notes

I need volunteers for the following. Read the annual report of the Town Councils to identify those which invested in the Pinnacle Notes. Find out the series and amounts. Give me the name and e-mail address of the chairman and general manager of the Town Councils. Send them to kinlian@gmail.com.
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3 comments:

Anonymous said...

Mr Tan,

I don’t find the information you are looking for on the pasir ris town council reports (maybe I am not reading the reports correctly). However, the below link should answer your queries.

http://www.prpg-tc.org.sg/cms/uploads/FAQ1.pdf

Extract as per below:

1. How much of the Town Council fund was affected by the Lehman’s linked product ?

Our Town Council invested $4 million (2.7%) of the Town Council fund in Minibond
Series 2 and 3.

To be honest, I am a bit shocked to see the amount of investments the town council are having. $4m is only 2.7% of the investments, so that would equate their total investments to be approx $148 mil. They are not investments firms, are they? If there are surplus, should it not be returned to citizens, maybe as conservancy rebates?

May 02, 2010 10:35 AM
Anonymous said...

the amount is peanuts to rich minister

May 03, 2010 12:33 AM
Anonymous said...

Sembarwang lost S$x amount in investment! It was make known to resident by a circular with very simple illustration.

If interested, pls go to its website.

May 04, 2010 9:53 AM

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