Has fiduciary duty become a joke under the PAP government?

“In the audit of the National Gallery (NG) development project, a project owned by MCCY, Auditor General Office noted that there were lapses in the approval of 142 contact variations (or 32.5% of variations test-checked) amounting to $12.4 million. These lapses included obtaining approval from approving authorities only after works has commenced or had alreardy completed. Failure to properly access and manage contract variations could result in MCCY not obtaining full value from public funds spent”.

Minister Grace Fu lightly dismissed AGO’s report in Parliament with “no fraud was involved in the NG Singapore’s waiver of contractual provisions. The sum is not over-payment so there is no need for recoveries of monies. Such waivers and variation orders (totally $13 millions) were expected for such a massive project.

The core issue here is that, one, large amount of public funds were spent without transparency and proper accountability, and two, despite being pointed out in the AGO report, Grace Fu behaved in such an outright arrogant manner in Parliament with her reply, “which was normal”.

I ask if that was really normal when considering that large numbers of lapses were uncovered, 142 or 32.5 variations test-checked. She expressed no surprise and no regret whatsoever. In other words, there was nothing to learn from and she and her ministry can do no wrong! It is no understatement to even say that she was trying to defend her own incompetency in our Parliament and to also defend the incompetency of the ministry under her charge.

Fiduciary duty in government must never be allowed to be regenerated into a joke. It must be sacred and it must be ingrained deeply into the psyche of evekry government officials, including ministers such as Grace Fu. If fiduciary duty ever becomes merely the battle-cry of the PAP government, then I say God saves Singapore.

 

 

Simon Lim

 

 

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16 Responses to “Has fiduciary duty become a joke under the PAP government?”

  • NotMyProblem:

    “Five new projects are on the horizon, and they will involve Changi Airport Terminal 5, Tuas Megaport, the Greater Southern Waterfront, the redevelopment of Paya Lebar Airbase and the Jurong Lake District.”

    Let’s see if there is “No fraud involved” in the above projects paid by taxpayers. None of the projects actually benefits the citizens.

    Changi Jewel is now becoming a white elephant, keeping alive by RCs organised trips.

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  • Land of Ostrich:

    Singaporeans base on Believing. No need independent audit.

    Top scorers in accounting.

    Don’t practice the spirit of accounting in real world.

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  • Crooked Brains:

    It’s not a joke but a dead serious, well thought out systematic scheme to fleece you of your money and to renegade their responsibility as a government.
    Their sole purpose is to device all kinds of ways to milk you to enrich themselves leegally through obscenely high salaries and privatize the profits from reserves while you bear any losses.

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  • patriot of TUMASIK:

    Grace Fool learn from her Father who was extremely close to a bast**d learning the art of LEEgal Corruption & Deceit…PERIOD!!!

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  • pap ownself pay ownself:

    pap tells the world, loudly, it has a pliant parleement which allows it to do illegal legally.

    transfer 70% sheep CPF money to pap PA for pap political purposes. no need to account for anything. no need to raise funds. no need to sell books.

    put loyal yes men yes women in lucrative S$m positions in gic temasick. no need to perform. just put up name for show. although gic temasick belong to 70% sheep CPF money, no need to account for anything due to pliant parleement.

    pap Cb says she needs S$m per year to maintain her standard of living. yet what is the median wage in pap Singapore? less than S$3,500 per month NETT. worse pap Lj can say S$m per year is mediocre and pap Lj wife can say S$600k per year is peanuts. WTF.

    desmond quek ruined mrt in 5 years yet pocketed S$10m+ swee swee. when money is wasted in such manner and coffer is empty, in comes Msia cow boon hwan saying mrt fares need to rise. 70% sheep not a bleat, being BSed by pap IB saying mrt fare rise is justified. not a second has 70% sheep ask how come publicly owned mrt can justify paying S$m to useless paper general when it is TRULY not making money.

    pap ownself pay ownself S$m system via a pliant parleement, heart of hearts pap knows, is theft anywhere else in the honest world.

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  • N.Jungne:

    It’s normal lah, everybody makan.

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  • opposition dude:

    This is what happens when useless ministers think that there is nothing wrong in just spending taxpayers’ money willy nilly. We common people are astonished by how many and how frequent these lapses occur pointed out by the AGO and all we get is just the usual “processes will be tightened” joke of an answer.

    Time for some of these useless buggers to get kicked out in the next GE, they have shown very clearly they just do not give a damn.

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  • Pioneer:

    Makes your blood boil.

    When they collect money from you they write the rules to enforce payment and failure to comply results in penalties.

    This is why PAP can anyhow spend taxpayer money.

    They’ve to be punished at the polls. Make some Ministers like Grace Foo go back to civilian life and see if people stand their nonsense.

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  • TruBlu:

    Well, *approval* must have been given unless not requested or submitted.
    WHO APPOVED?

    Else,it is a CLEAR MIS-SPENDING.

    IS IT AN OFFENCE?

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  • Bapak:

    $12.4 mil is nothing, whereas few dollrs stamp used by CJS was a big thing. Pui And Pui.

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  • Asd:

    Say whatever you want people pocket already full of money… these are educated people ? You judge for yourself lor…

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  • This is PAP!:

    PAP gives out grants like skillsfuture to win popularity and votes.
    They never learn from the abuses of previous schemes, PIC grants.
    In fact, the KPIs of the civil servants are pegged to much money they can give out.
    I wonder how much Dyson’s CEO is getting from PAP, who spent over $100 million to buy 2 properties here.
    Can a foreigner buy landed property in Singapore? Yes, by “special” approval from PAP minister or some PAP controlled Committee.
    Sad, a Singaporean serving NS and reservist ICT is not able to buy even a resale HDB flat if his wife is a foreigner! Yes, they can rent one from a PR, what an irony!
    Soon Hongkongers are coming over to buy up properties because of the problem in Hong Kong.
    Prices will go up. Good for Singaporeans home owners? But can they afford to upgrade? Can their children afford to buy a property?
    Soon, their HDB flat will depreciate and become worthless.
    The foreigners will rent out their private properties and flats to Singaporeans, whether they are here or have returned home.

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  • Legal Dictionary:

    A FIDUCIARY is an individual in whom another has placed the utmost trust and confidence to manage and protect property or money. The relationship wherein one person has an obligation to act for another’s benefit.

    A fiduciary relationship encompasses the idea of faith and confidence and is generally established only when the confidence given by one person is actually accepted by the other person. Mere respect for another individual’s judgment or general trust in his or her character is ordinarily insufficient for the creation of a fiduciary relationship. The duties of a fiduciary include loyalty and reasonable care of the assets within custody. All of the fiduciary’s actions are performed for the advantage of the beneficiary.

    Courts have neither defined the particular circumstances of fiduciary relationships nor set any limitations on circumstances from which such an alliance may arise. Certain relationships are, however, universally regarded as fiduciary. The term embraces legal relationships such as those between attorney and client, Broker and principal, principal and agent, trustee and beneficiary, and executors or administrators and the heirs of a decedent’s estate.

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  • Contradiction:

    Who is holding the govt to account?

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  • Evil, Greedy And Corrupt:

    PaP gives out grants to cronies to run skillFuture, which is nothing more than a Wayang that gives zero chance of landing you at a permanent job.
    Like many schemes, the money is just passed through using you, making you feel good and having a false sense of hope. Like the failing MRT, these pigs have little idea how to solve the issues, running the ministries as uncoordinated independent lemmings, surfacing the issues upward to the clown prince, fighting them as patchworks.

    As long as companies, mostly PAP cronies like Keppel Singtel and the likes, are allowed to discriminate and government making the country’s door wide open, poor sinkies will have minimal chance of fending your lunch, as your foreign counterpart from third world can work at a fraction of your cost because they do not have to bare permanently your kind of living costs.
    They come, work for a few years, then fly back or to greener pastures, leaving this place stuck in perpetual second tiered industries that compete on cost.

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  • Unbelievably Stupid:

    Contradiction:
    Who is holding the govt to account?

    Stupid sinkies asked what can oppositions do and voted for pigs to govern and self check self. They forget that a strong oppositions, in numbers, can hold the government to account.

    This is how stupid our educated sinkies can be. They naively put their trust on crooks and thieves. If things could run well based on trust then there is no need for parliament or law and order, as every stupid sinkie can be trusted to do his or her part. such utopia only exists in dreams.

    If they bother to think through rather than read-and-parrot then many will vote rightly for check and balance in parliament.
    These dumbasses have little idea of what the parliament is for. If they have known, they will vote for check and balance.
    These dafts smugly fired the shot then asked stupidly where is the target.

    To any corrupt government, any debate in parliament is “adversary”, to hold the government to account to explain any inconvenience truth. For pigs to talk openly about opposition debates as adversarial, already eluded a government that is not responsible, unwilling to account for their actions.
    This further eluded that the government is incompetent, as any competent government will have little problem in explaining the policies when questioned.

    Absolute power corrupts absolutely. So you think dafts can get the answer to how much she is earning in temadick?? The answer is obvious.

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