According to Mr Hawazi, Sembawang Town Council is in "very sound financial health" with a surplus of $8.6 million and $233 million in its reserves. Its decision to invest its funds has paid off.
"Our funds with our fund managers have given us a total return of $25 million in the last two years, or a yield of 16 per cent per annum," said Mr Hawazi.
Or maybe we should open up town council unit trusts and make it CPF investible. With yields like this, who needs more REITs?
1 comment:
16% per annum is very attractive.
Didn't know Town Council are such great fund manager! gulp
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