MND’s Statement on the KPMG Report
Recovering lost funds and strengthening accountability may protect resources intended for estate management and reduce potential disruption to services benefiting AHTC residents.
KPMG found serious regulatory breaches and improper AHTC payments involving millions of dollars, prompting HDB to request third-party recovery action, including potential legal proceedings.
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MND is deeply concerned with the latest findings in the KPMG report (“the Report”) on its review of past payments made by the Aljunied-Hougang Town Council (AHTC).
The Report found serious legal and other regulatory breaches, and improper payments made from Town Council funds running into millions of dollars. The Report also identified the possibility of criminal conduct.
These findings by KPMG are serious. There has been a significant loss of public monies.
To protect residents’ interests, steps must be taken to recover the monies which have been lost, and to ensure that those who acted wrongfully are held to account. HDB has, today, sent a letter to AHTC, asking it to confirm that it will appoint a suitable third party to take steps, on the Town Council’s behalf, to recover the monies which have been lost, including, where necessary, legal actions.
The Government is also considering what other steps are view of the concerns highlighted by KPMG, in relation to the way some of the Town Councillors have behaved, in dealing with public funds.