Saturday, June 19, 2010

Help With Math Required

What the Straits Times took as gospel truth when it reported:
“It was the same story for Ang Mo Kio-Yio Chu Kang Town Council. MP Inderjit Singh, who chairs it, said between 0.1 per cent and 0.2 per cent of the $45 million to be collected yearly is written off.”

Simple math indicates 0.1 or 0.2 percent of $45 million is only $45,000 or $90,000.

Note the "Provision for impairment" figures of $2,237,334 (FY2008) and $1,357,093 (FY2009) in the Notes To The Financial Statements. Go figure.

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