Under The Angsana Tree: July 2016

31/07/2016

Why Coffee Drinkers May Pay

Coffee Drinkers Beware! You’re Paying More For Life Insurance

Bad news coffee drinkers. Despite some findings that coffee does not affect health adversely, a survey of 1000 coffee drinkers and non coffee drinkers who own life insurance, commissioned by Life Ant, has found that on average, the coffee drinkers are paying more for their life insurance than their non coffee drinking counterparts.

The survey found that the average coffee drinkers pay almost a staggering 20% more money for equivalent life insurance coverage. We found that the mean life insurance cost for a coffee drinker is $19.24 for their term coverage. Non coffee drinkers are paying $15.98 for the equivalent coverage.

The survey relied on self reporting, and covered 500 life insurance owners who drank coffee at the time of their application, and 500 who did not. To avoid the effect that different types of life insurance have on price, the survey used owners of term life insurance (the least expensive and most widely owned type). We also limited the scope to policies with under $500,000 of death benefit, and the difference in average death benefit between the coffee drinkers and non drinking groups was not statistically significant.

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30/07/2016

'Pervasive' lapses in WP town council

Update 1 Nov 2018: Audit cases reported by the Auditor-General's Office (AGO) from 2012 to 2017

The landmark Aljunied-Hougang Town Council (AHTC) trial centers around the alleged mismanagement of public monies by Workers' Party (WP) leaders. Since so much attention, effort and money that has gone into this matter since 2012, I couldn't help but wonder — what was the scale of WP's alleged mismanagement relative to AGO's audit findings for all government agencies?

As a Singaporean, I'd like to have an objective assessment of how much of our taxpayer's money was mismanaged, regardless of who mismanaged it. Since AGO audit issues are published yearly, I took a data-driven approach and measured the size and scale of Worker's Party's audit lapses vis-a-vis all other audit cases listed by AGO from 2012 to 2017. (You can read about my data-gathering and data-processing approach in detail)

This articles hopes to summarize 5 years' worth of AGO reports (and perhaps several weeks' worth of time of reading them) into a 5-minute article.

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WP MPs 'have not shown integrity'

Mr Shanmugam (above) criticised AHTC chairman Pritam Singh "for suppressing the truth (designed to mislead) both in Parliament and in Court"

Workers' Party (WP) leaders have not shown integrity or ethics in managing their town council's finances and fixing lapses, Home Affairs and Law Minister K. Shanmugam said yesterday.

In a strongly-worded FaceBook post, he called on WP's 6 elected MPs to come clean on millions in irregular payments in its "dark corners", sums that were flagged by independent auditor KPMG in its report on WP-run Aljunied-Hougang Town Council (AHTC) last week.

KPMG found "pervasive" control failures in AHTC's accounts and processes over the past five years, spanning governance, financial control, financial reporting, procurement and records management.

related:
'Pervasive' lapses found in WP town council
KPMG flags pattern of accounting breaches
Aljunied-Hougang TC auditors find 'pervasive',systemic lapses and lax controls

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KPMG report on AHTC paints 'devastating account' of town council mismanagement: Shanmugam

KPMG’s damning Report on AHTC, millions not properly accounted for, KPMG questions integrity and ethics of AHTC

Home Affairs and Law Minister K Shanmugam on Sat (Jul 23) said accounting firm KPMG’s 4th monthly report on the Aljunied-Hougang Town Council (AHTC) paints “a devastating account of the Workers’ Party’s mismanagement of its town council”.

In a FaceBook post, Mr Shanmugam described the findings as “a damning litany of highly irregular & suspicious financial practices, poor governance structures and extensive leadership failures”.

The KPMG report, which was made public by AHTC late on Wed night, uncovered lapses in its audit of the town council. KPMG had said AHTC would need "at least 18 months" to fix lapses uncovered by the firm. It also stated that it found a further 70 control failures within the town council, in addition to the 115 control failures earlier identified by the Auditor-General's Office.

related: KPMG findings on AHTC lapses of 'grave concern': HDB

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K Shanmugam Sc · 23 July via Facebook Mentions · Edited

KPMG’s damning Report on AHTC, millions not properly accounted for, KPMG questions integrity and ethics of AHTC

The latest monthly progress report on Aljunied-Hougang Town Council (AHTC) issued by KPMG paints a devastating account of the Workers’ Party’s mis-management of its town council. It is a damning litany of highly irregular and suspicious financial practices, poor governance structures & extensive leadership failures.

KPMG, AHTC’s own independent accountants, has uncovered even more faults than the Auditor-General’s Office (AGO) and AHTC’s statutory auditors. AGO and AHTC’s statutory auditors found 115 failures. KPMG uncovered another 70 – making a total of 185 failures. Since the AGO audit, the situation has not gotten better. It has gotten far worse. KPMG says:

AHTC’s “control failures,” were “pervasive, cutting across the key areas of governance, financial control, financial reporting, procurement and records management over the course of 5 years.”
There was no “culture of compliance to controls”.
“There was no ….…enforcement of integrity and ethical values,”

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Shanmugam slams AHTC for ‘breezy’ attitude on KPMG report

Not only does the latest report by KPMG on Aljunied-Hougang Town Council (AHTC) show that “the rot is at the top”, the town council’s breezy response to the report shows no sense of responsibility, said Home Affairs and Law Minister K Shanmugam.

KPMG’s latest monthly progress report had identified an additional 70 “control failures” in the town council’s governance, financial control and reporting, procurement, and records management over 5 years, and also flagged a “pervasive” culture of systemic weaknesses.

In a FaceBook post on Sat (Jul 23), Mr Shanmugam took issue with a statement from AHTC chairman Pritam Singh.

related: KPMG report details root causes of AHTC lapses

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Aljunied-Hougang town council accepts auditors' 'reset' call

Auditors of Workers' Party-run Aljunied-Hougang Town Council (AHTC) have found "pervasive control failures" in its accounts and work processes over the past 5 years.

These weaknesses cover key areas of governance, financial control, financial reporting, procurement & records management.

In a report yesterday, KPMG also found that the town council's management lapses went beyond individual issues and were a systemic problem.

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'Pervasive' lapses found in WP town council

Auditors of the Workers' Party-run Aljunied-Hougang Town Council (AHTC) had harsh words for the way it was managed, saying they found "pervasive" control failures in its accounts and work processes over the past 5 years.

These weaknesses cover key areas of governance, financial control, financial reporting, procurement and records management, KPMG said in a report on Wednesday.

In all, KPMG flagged 6 areas where AHTC's control environment had failed to set the foundation for discipline and structure for its internal workings. These include the lack of communication and enforcement of integrity and ethical values.

related: KPMG flags pattern of accounting breaches

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AGO report: Workers' Party calls for transparency in remedial actions

The Workers' Party on Mon (Aug 1) said that the multiple lapses in public sector spending and governance flagged in the Auditor-General's Office report released last Tuesday are "matters of grave public concern" & should be adequately addressed by the Government.

The Opposition party said in its press release that of particular concern are "recurring lapses taking place under one ministry".

Referring to the lapses reported of the Ministry of Education, the WP said that more than half of the scholars selected by the AGO for test-checks failed to fulfil their scholarship obligations to Singapore, as well as the "worrying trend" in the pattern of lapses in procurement, tender & giving preferential access to a related party across several institutions.

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Full Coverage:
KPMG report on AHTC paints 'devastating account' of TC mismanagement
Shanmugam slams AHTC for 'breezy' attitude on KPMG report
Aljunied-Hougang town council accepts auditors' 'reset' call
WP MPs 'have not shown integrity'
KPMG findings on AHTC lapses of 'grave concern': HDB
Aljunied-Hougang Town Council auditors find 'pervasive', systemic
KPMG report details root causes of AHTC lapses
Workers' Party town council lapses detailed in KPMG report; AHTC
Aljunied-Hougang town council accepts auditors' 'reset' call
Town Councils Act to be beefed up soon
KPMG starts review of past payments made by AHTC
Aljunied-Hougang Town Council appoints KPMG as accountants
AHTC appoints KPMG to check books
'Safeguards in place' so AHTC will get $12.9m of grants
Changes to Town Council Act likely by year end: Minister
$10m funds transfer for Punggol East authorised
AHTC wants more time to pick Big Four firm
Punggol East funds to be transferred after audit
Report details 'root causes' of AHTC lapses
Court orders WP-run town council to appoint accountants from one
WP town council taking steps to fix lapses
Duplication of work' on Punggol East accounts: AHTC
KPMG starts review of past payments made by AHTC
AHTC appoints KPMG to check books
Aljunied-Hougang Town Council appoints KPMG as accountants
WP town council taking steps to fix lapses
WP town council says it has transferred $10 million more
Accountants should work together to look into Punggol East
Most town councils perform well in all areas; room for improvement
AHTC: Last of Punggol East sinking funds to be transferred after audit
AHTC to award contract on Town Council Accounting System 'shortly'
Ensure town councils are run properly
Report details 'root causes' of AHTC lapses
'Duplication of work' on Punggol East accounts: AHTC
AHTC, PRPTC tangle over access to accounts
KPMG starts review of past payments made by AHTC
AHTC appoints KPMG to audit its books
Workers' Party-run AHTC appoints KPMG as accountants
Remediation Status from KPMG Report dated 20 July 2016
Monthly Report on Progress - Aljunied-Hougang Town Council
AHTC receives KPMG's first monthly report, submits to HDB
KPMG starts review of past payments made by AHTC
KPMG's Monthly Report dated 13 May 2016 (Full Report)
KPMG starts review of past payments made by AHTC, Politics
Shanmugam Slams AHTC for 'Breezy' Attitude on KPMG Report
Shanmugam slams AHTC for 'breezy' attitude on KPMG report
Singapore KPMG report on AHTC paints 'devastating account' of
Shanmugam slams AHTC for breezy attitude on KPMG report - SG Talk
Shanmugam slams AHTC for 'breezy' attitude on KPMG report
KPMG report on AHTC paints devastating account of town council
KPMG report on AHTC paints 'devastating account' of town council
KPMG report details root causes of AHTC lapses - Sqfeed Journal
Shanmugam slams AHTC for 'breezy' attitude on KPMG report
At least 18 months needed for AHTC to fix lapses, KPMG says in latest
KPMG: Root causes of AHPETC lapses created by government's Town.
Shanmugam slams AHTC for 'breezy' attitude on KPMG report – Yoshi
WP town council taking steps to fix lapses
Aljunied-Hougang, Pasir Ris-Punggol town councils to get MND grants
MND to disburse AHPETC S&CC operating grants
AHTC yet to hand in financial documents to new town council
AHTC: Last of Punggol East sinking funds to be transferred after audit
Town councils scored largely well across board in FY2015 report
Most town councils perform well in all areas; room for improvement
WP town council says it has transferred $10 million more of Punggol
Pasir Ris-Punggol Town Council appoints PWC as accountant
AHTC ordered to appoint Big Four firm
Accountants should work together to look into Punggol East

Social Media on KPMG's Report:
Think AGO report is not a wayang? Think again
Pritam Singh - KPMG has released its second report to... | Facebook
Pritam Singh faults Pasir Ris-Punggol Town Council's statement

AHTC chairman said it is “not helpful to speculate or jump the gun
PAP MPs prefer to defend their interests in Facebook, not Court
Shanmugam's claims about WP-run town council are speculative
NCMP Daniel Goh calls out Today newspaper's biased report on
Skirmishes over AHTC accounts continue
Cleaning up the Town Council Act. It's about time!
Lawrence Wong : “Changes to Town Council Act by end of the year”
NCMP Daniel Goh calls out Today newspaper's biased report on AHTC's
WP's auditors found more problems with Aljunied-Hougang Town

AHTC chairman, refutes PAP Charles Chong’s comments on sinking funds

HDB not given a carte blanche to look into AHTC’s affairs
WP town council to go back to court – again
Sylvia Lim clears up allegations against WP regarding AHPETC
Scale of Government’s lapses dwarf those of AHTC’s
Charles Chong is ‘factually incorrect’ alleges Pritam
PAP MPs prefer to defend their interests in Facebook, not Court
Pritam Singh faults Pasir Ris-Punggol TC’s statement, calls it ‘misleading’
Law Minister K Shanmugam bark at Opposition Town Council
Root causes of AHPETC lapses created by government’s Town Council
MP Pritam Singh: FB Fabrications About the PAP fabricate slanderous stories
Why Aljunied MP Pritam Singh was picked to be Chairman of AHTC
PAP town council ‘no show’ in an apex court case presided by Chief Justice
This is Why Aljunied Always Fails Town Councils’ Reports
AHPETC: Lawless in Aljunied or WP Laws in Aljunied?

Auditor-General issues damning report on People’s Association

related:

Auditor-General's Report 2019/2020

Auditor-General's Report 2018/2019

AHTC Saga: The real monkey in the room

Workers' Party MPs appeal for support to fight town council lawsuits

The AHTC Lawsuits Against Workers’ Party MPs

Ex-GM Of AMK Town Council Charged with Corruption

Ang Mo Kio Town Council general manager under CPIB probe

Auditor-General's Report 2017/2018

Auditor-General's Report 2016/2017
Auditor-General's Report 2015/2016
Auditor-General's Report 2014/2015
Auditor-General's Report 2013/2014
'Pervasive' lapses in WP town council
Lapses in Governance And Compliance

MPs debate "Lapses in Governance And Compliance"

Town Councils Graded On Corporate Governance

The AHPETC Saga
MPs debate "Lapses in Governance And Compliance"
Lapses in Governance And Compliance
Town Councils Graded On Corporate Governance
From Desmond Lawrence Sylvia to AHPETC
Social Media Takes On Town Council
Town Council Grants And Surplus Issues
From Adverse-Opinion, Ceiling-Cleaning to Unlicensed-Fair
From AIM AHPETC to PA
From NEA MND MOF to AGO
Low Thia Khiang: "Time for WP-run town councils & NEA to move on"
Dr Vivian: "Clean up and apologise, then we talk"
Sylvia Lim: "Is NEA Playing Politics?"
White Clouds Clearing For Blue Skies
"Worst-case Scenario" Of A 6.9 Million Population
Media release by AHPETC - Minister’s Belated Statement Uncalled For
Paying high salaries to mitigate corruption

29/07/2016

Brown Eggs vs. White Eggs

We know that brown is better when it comes to grains, but what about eggs? The only difference between brown and white eggs is the price. Both brown and white eggs have the same nutritional profile and are graded the using the same scale. So, why are some eggs brown and others white, and are brown eggs worth the extra money?

It's All About The Chicken - You might assume that white eggs are laid by white-feathered chickens and brown eggs by brown-feathered ones, and you would be somewhat correct with that assumption. The color of the chicken does play a role, but it is the color of the earlobe that determines the shell color. White or light-colored lobes indicate white eggs and chickens with red lobes produce brown eggs.

More Expensive Does Not Mean Better - If you think that brown eggs taste better, it has nothing to do with the shell color and everything to with what the chicken are being fed. And because chickens with red lobes tend to be bigger, they eat more. This is the main reason that they are more expensive. In addition to the quantity of food the chicken eats, the quality is an important factor. The quality of the feed can impact the taste but if you give the same quality feed to both lobe colored chickens, the eggs will taste the same.
Regardless of shell color, size or even grade, the most important thing about eggs is that they can and should be part of a healthy diet. Eggs contain the highest biological value for protein. One egg has only 75 calories but 7 grams of high-quality protein, 5 grams of fat and 1.6 grams of saturated fat, along with iron, vitamins, minerals, and carotenoids. And it's important to eat the yolk because the essential fatty acids vitamins A, E, D and K, as well as most of the calcium, iron and folate are found there.

28/07/2016

Auditor-General’s Report 2015/2016

Reports of the Auditor-General

The Report of the Auditor-General was signed on 14 July 2016 and submitted to the President of Singapore.

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Inadequate financial controls, weak governance uncovered in AGO report

The Auditor-General's report for Financial Year 2015/16 was released on Tue (Jul 26), and it uncovered instances of inadequate financial controls over Government operations and weak governance.

In a media release, the Auditor-General's Office (AGO) said that, as a whole, it audited the Government Financial Statements -- incorporating the accounts of all 16 Government ministries and eight organs of state -- and the financial statements of 3 statutory boards, a Government fund, 5 Government-owned companies and 3 other accounts. Selective audits were also carried out on 9 statutory boards and 3 Government funds.

The audit observations in this year's report relate to 6 ministries, including the Ministry of Education and Ministry of Defence, and 6 statutory boards such as the Housing and Development Board (HDB) and Nanyang Polytechnic, AGO said.

related:
MOE, NYP rapped for lack of oversight, weak governance: AGO report
Up to S$13.9m in tolls under-collected by LTA: AGO
SCDF: OFFICIAL CASH CARDS USED ON PERSONAL TRIPS
MINDEF cited in Auditor-General's Report for lapses in management of land
Room for improvement in how CPF Board administers schemes: AGO
'Logic flaws' in NLB's computerised system for selecting, purchasing books
MDA rapped for failing to monitor project deliverables: AGO's Report
'Serious irregularity', NParks officer created backdated documents for audit

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Auditor-General's Report flags irregularities in use of public funds

Lapses in the administration of grants, schemes and programmes, as well as instances of weak management of resources which resulted in wastage, were highlighted in the Auditor-General's Report for the Financial Year 2013/14, released on Thu (Jul 17).

After a few years in which the Auditor-General's Office (AGO) focused on procurement-related issues, it said it "consciously shifted" the emphasis for this year's audit to other areas to give the public sector time to enhance their procurement systems.

This year's report -- submitted by Auditor-General Willie Tan Yoke Meng to President Tony Tan Keng Yam on Jul 1 and presented to Parliament on Tue -- highlighted the following areas for public sector entities to pay greater attention to:

Administration of grants and commitment of public funds (4 serious observations cited)
Administration of schemes and programmes (7)
Management of land and assets (4)
Procurement (8)
Other lapses (8

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Auditor-General’s Report FY 2015/16: Audit observations

Newly refurbished Victoria Theatre and Victoria Concert Hall on July 10, 2014. TODAY file photo

In its latest report for financial year 2015/16, the Auditor General’s Office (AGO) flagged lapses and inadequate financial controls in 6 ministries and 6 statutory boards. These ranged from investments made without proper approval and evaluation by the Ministry of Defence, to the National Arts Council paying a consultancy fee of S$0.41 million for the construction of a bin centre that cost S$0.47 million.

Here’s are highlights of the AGO’s audit observations:

MINISTRY OF DEFENCE (Mindef)
MINISTRY OF EDUCATION (MOE)
MINISTRY OF FOREIGN AFFAIRS (MFA)
MINISTRY OF MANPOWER (MOM)
NATIONAL ARTS COUNCIL (NAC)
LAND TRANSPORT AUTHORITY (LTA)
HOUSING AND DEVELOPMENT BOARD (HDB)
MOE – NANYANG POLYTECHNIC (NYP)

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AGO report flags several ministries for lapses

When 2 universities failed to recover tuition-fee and study loans given to their students within a specified period,the Ministry of Education (MOE) did not take the necessary follow-up actions promptly.

Called out for its lack of oversight in administering schemes and programmes such as scholarship bonds and study loans, the MOE was 1 of 12 government bodies whose lapses were flagged by the Auditor-General’s Office’s (AGO) annual audit of the public sector.

Others cited for lapses in the AGO’s 61-page report, made public on Tue (Jul 26), included the Defence Ministry (Mindef) and the Housing and Development Board (HDB).

related:
Nanyang Polytechnic gave hidden subsidies, excess funds to subsidiary
Auditor-General’s Report FY 2015/16: Audit observations

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10 things to know about the AGO report

After the report is submitted to the President and presented to Parliament, the Public Accounts Committee will deliberate on the report and may call upon the public sector entities to account of lapses where it deems necessary.

The Auditor-General's Office (AGO) released its report for the financial year 2015/16 on the proper accounting, management and use of public resources on Tue (Jul 26).

Here are 10 things to know about the report:

The AGO audited a total of 16 ministries, 11 statutory boards, 8 organs of state, 5 government-owned companies, 4 government funds & 3 other accounts
The Housing Development Board (HDB)
Land Transport Authority (LTA)
The Ministry of Foreign Affairs (MFA)
The Ministry of Law
Nanyang Polytechnic (NYP)
The Ministry of Education (MOE)
The Ministry of Culture, Community and Youth (MCCY)
The Ministry of Home Affairs (MHA)
What happens now?

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Auditor-General flags lack of oversight in MOE on enforcing study loans, scholarship bonds

Students at the self-study area of National University of Singapore. FOTO: ST FILE

The Auditor-General has signalled his concern over weak governance of public funds in several government agencies, and "lax" oversight of external entities tasked to administer schemes and loans.

These weaknesses in governance were set out in the latest annual report of the Auditor-General's Office (AGO) released on Tue (Jul 26).

Most notable was poor oversight found in Ministry of Education (MOE) funded tuition fee loans, study loans and scholarships which are administered by the Nanyang Technological University (NTU) and the National University of Singapore (NUS).

Related:
About $13.9m in tolls at land checkpoints under-collected due to LTA's weak controls
Nanyang Polytechnic gave $8.38m in 'hidden subsidies, excess funds' to subsidiary

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AGO audit reveals ‘serious lapses’ in several Government agencies