"After the GE in May 2011, the Town Council was served with a notice that the Town Council's Computer and Financial Systems will be terminated with effect from 1 August 2011 due to material changes to the member ship of the Town Council. This Computer and Financial Systems had been developed jointly by the 14 Town Councils over a period of more than 15 months but was in January 2011 sold to and leased back from M/s Action Information Management Pte Ltd, a company which was dormant."
That dormant company lists as directors former People's Action Party members of parliament, namely Chandra Das, Lau Ping Sum and Chew Heng Ching (Deputy House Speaker 2002-2006). That explains the "Action" in the company name "AIM". Whatever the original aim of the entity, it was incorporated in 1991 with a miserly paid up capital of $2. The first director (Lau) was appointed in 1998, Chandra Das (MP 1980 to 1996) was made director in 2010. Presumably those were the years they geared up for their "IT consultancy/hardware consultancy" business, and injected more funds to augment the token start-up investment. We are assuming, of course, the 14 Town Councils, will millions of reserves collected from S&CC, will not deal with a $2 company. Or entrust it with a costly computer system developed over 15 months.
Chandra Das is the Singapore non-resident ambassador to Turkey, managing director of NUR Investment & Trading, chairman of Nera Telecommunications, and pro-chancellor of NTU. The life trustee of the Singapore Indian Development Association also holds directorship in companies including Yeo Hiap Seng and The Ascott Reit. Before he passed away in July 2006, Lim Kim San, in a moment of candour, once told a young and aspiring banker, "The PAP knows how to take care of its own." He died a very grateful man.