Government lost $17.3million to UNSW. "IT IS OUR $$"

[Puffer_fish]

EDB's $17.3m recall from UNSW not guaranteed

 

 

The EDB is currently negotiating with UNSW in Sydney to return the $17.2 million. UNSW Asia was faced with 'significant claims' from creditors. -- ST PHOTO: ALAN LIM

 

THE Economic Development Board's (EDB) attempt to recall $17.3 million from the University of New South Wales (UNSW) Asia is not subject to guarantee by its parent institution in Sydney, said a minister.

Nevertheless the EDB is currently negotiating with UNSW in Sydney to return the money.

 

Mr S Iswaran, Minister of State for Trade and Industry, said this in Parliament when Nominated MP Siew Kum Hong queried if the parent university can be held responsible if UNSW Asia is delcared insolvent.

 

In a statement last month, UNSW had said that UNSW Asia, the company behind the now-defunct Singapore campus, was faced with 'significant claims' from creditors.

 

It said if the claims were upheld, UNSW Asia will not have enough funds to pay up, and may have to consider declaring itself insolvent.

[Puffer_fish]

THE REASON WHY THE GOVERNMENT WANT TO MAKE OUR CPF FOLLOW THE MARKET IS TO GURANTEE THEMSELVES IF THEY LOST OUR HARD EARN MONEY ..... WE END UP PAYING FOR IT ..... IT CONSIDER AS """ BAD INVESTMENT"""

Edited September 18, 2007 by Puffer_fish

[Altivo]

they would just say "it's an honest mistake" and that we should put all these behind and "move on"...

[Cheekg98]

that's a lot of $$$

[So_nice]

many good years ahead...

[Nolicense]

OUR money?? = gahmen money?? or citizen money??

its an honest mistake, lets move on..

[Puffer_fish]

WHEN WE MAKE A HONEST MISTAKE IN THE COMPANY WE GET SACK, THE MINISTER WHOM IS IN CHARGE SHOULD RESIGN ,$17.300,000.00 IS ALOT OF MONEY, HOW MANY PEOPLE CAN HAVE THIS AMOUNT WHEN THEY RETIRE

 

 

PLEASE COMPARE THE 000 WITH THE 000 IN YOUR ACCOUNT, IF YOUR ACCOUNT HAS 50% OF THE 000, THEN I REST MY CASE

[Curahee]

Imo this incident is only a tip of the iceberg. Anyway they will not feel the pinch as those are our hard earn money, not theirs.

[Nolicense]

easy there bro, i'm a poor man. i got many 000 behind the decimal in my account.. hehe

when come to this type of loss, we bo pian.. gahmen always win. always other pple fault, gahmen only honest mistake, like teflon man, nothing can stick to them one.

[Landex]

Er.........

 

50 % of 000 = 1000?

 

alot of us hav leh...

 

but used to pay load tax liaoz..

 

 

[Puffer_fish]

bro not meaning to you , but bloody piss off with GOVERNMENT.

 

brother 17,300,000.00 50% of the 000 is 17,300.00 not 1000

 

if i buy rotten eggs to shot at them , i can fire at the rate of 60 eggs per second for 1 year

 

just bloody piss the way they make us follow their way

[Nolicense]

eh sure or not? rotten egg is free right?

[Icarus]

There goes our CPF money...

[Kc77]

Aiyah, bro, no use KPKB here...... If really everybody so du lan.... then why election time they still win?

[Perrier]

You are spot on!

 

Only way is to withdrawal your CPF before it is high and dry or the harder way to try your luck every 6 years.

 

One is a self effort whereas the other is a 4 million effort.

[Perrier]

 

Maybe for awareness lor. But then, Singaporeans are known to be forgetful.

[Typhoonz]

Yippie!!!! We lost money again!!!!!

[Kingcopa]

Well our minister job are "titanium bowl" job. Take a look at other country, no the PM mistake, he also kena and force to step down, do u think this will happen here.

NO WAY man, if possible, then our minister change until we blur liao. Look at their "honest mistake" n crap speech they give.