“DPM Tharman Shanmugaratnam claimed that even if the operating grant withheld by the Ministry of National Development (MND) for FY 14/15 is paid in its entirety into AHPETC’s Sinking Funds, it would not be sufficient to comply with AHPETC’s sinking fund obligations for the financial year.
This is incorrect.
Despite the withholding of the annual operating grant for FY 14/15 from AHPETC since April 2014, AHPETC has, to date, fully made 3 quarterly transfers for FY 14/15, from its operating funds to sinking funds”
For the full release, go to http://www.ahpetc.sg/media-release-17-aug-2015/
Aljunied-Hougang-Punggol East Town Council
17 Aug 2015