Posted by: bigtalksingapore | April 13, 2012

Singapore Government Agencies missing money

It is good that they finally make this public and confront the problem.

When I say finally, I mean that this problem have been in existence since long long time ago. Don’t believed ? Take a look at another article below that I cut it out of Singapore Straits Time on 13 October 2001.

You’re right, this problem has been around since 2001 and they knew about it. So after more than 10 years, looks like not much action have been done.

So will they get around to start doing something after sitting around for 10 years ? Hmm…I’m not convince just yet based on their past performance.

A few comment based on the article above…

  • How much of Singaporean money were lost ? I mean how much in total ?
  • “…expressed concern over what it observed were recurring lapses in public agencies’ procurement practices over the last five years.” (Quoted from article).
    Five years ? Really ? Not more than 10 years meh ?
  • “The Ministry of Finance (MOF) is responsible for Government precurement policies and rules.” (Quoted from article).
    So who is stepping up to really take responsibility ?
  • “MOF attributed most of the procurement irregularities to procurement principles and/or their lact of familiarity with procurement rules”(Quoted from article).
    Wow! You mean Singapore civil servant being one of the world highest paid and still they are lacking familiarity after so many years ? If Singapore being a tiny island and they got so many problems managing their procurement by one of the smartest (and highly paid) people, can you imagine big nations like America ?
  • The committee reiterated the “importance of senior management of public sector entities setting the right tone-at-the-top on governance and financial control matters” (Quoted from article).
    I’m really curious, what kind of “Tone” are the senior management setting right now ?
  • Lastly, can you imagine what would have happened if they release this information before Singapore election ?


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