Mr Wang said:

The fact that town councils invest your conservancy fees into stocks, shares, bonds and structured products really just goes to show that Singaporeans have been paying way too much in conservancy fees.

What do town councils need so much money for, anyway? As of last year, they had more than $1,000,000,000 of excess cash in their sinking funds! Surely it doesn't cost that much to build a few playgrounds and basketball courts, and to pay some Bangladeshi workers to clear the rubbish and sweep the floor every day.

Note that town councils aren't responsible for maintaining everything in your HDB estate. Organisations like the National Parks Board pay for the maintenance of the parks; while the Land Transport Authority pays for maintaining the roads and bus-stops; the Singapore Sports Council pays for the maintenance of the public swimming pools and sports stadiums etc.

Recommended by at82: "Since when did we pay our S&C fees to Town Councils so that they can play Hedge Fund Managers?"

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