Friday, 10 March 2017

AHTC pays $4 million in discrepancies in Punggol East's financial statements

No wonder Pasir Ris-Punggol Town Council PRPTC) had insisted on having access to financial documents pertaining to Punggol East SMC.

PRPTC had to go to court to ask for the documents to be released to them. Each time, AHTC's excuse is that it is a duplication of work. Just think. Had there been no legal avenue to chase for the documents, Punggol East would stand to lose that $4 million due to them.

In all, AHTC submitted THREE sets of financial statements to PRPTC. The first 2 sets were withdrawn after discrepancies were found.

Under the latest set of financial statements, the amount due from AHTC to Punggol East SMC was slightly more than S$24 million. It had earlier paid S$20 million.

PRPTC sent a demand to AHTC to ask for the balance on Tuesday and received it two days later, it said.

Under the latest set of financial statements, the amount due from AHTC to Punggol East SMC was slightly more than S$24 million. It had earlier paid S$20 million.

PRPTC sent a demand to AHTC to ask for the balance on Tuesday and received it two days later, it said

http://www.channelnewsasia.com/news/singapore/ahtc-pays-s-4m-for-discrepancies-in-punggol-east-smc-statements/3584574.html

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