Town Council Investment Holdings Pte Ltd

I must have been living in the mountains. I only knew today from reading the blog "Mr. Wang Says So" that our town councils have actually been running their own little investment funds. Oh yes, we all know the importance of making our money work harder for us; this is why people would always look for financial instruments that give them the returns they desire for the amount of risk that they are comfortable to take. We do that because this is our very own money and we wish to use the increased returns some day. Nothing wrong with that.

But when your town councils use the money that they collect for the purpose of conservancy and other maintenance costs for the housing estates to invest in stocks and other financial instruments, something is not quite right. Afterall, are the town councils not supposed to collect just sufficient amount of money from the citizens for the upkeep of the estates rather than make an obscene profit out of it? And what are the town councils going to do with all the money that they are making from the stock market? Give them back to the residents as some kind of "Town Council Shares" like our government's "New Singapore Shares"? Perhaps the excess cash are buffer for the day when the housing estate might be hit by a cockroach epidemic which would cause the town councils' expenses to spike and they have to draw down on their million dollars reserves?
Or let's ask the simple question, what on earth are the town councils going to do with all those excess cash anyway?? I wonder if no one in the administration has yet chance upon the idea that all the excess cash means that the town councils should simply collect less from the residents. With everything in Singapore going up, we can do with some kind of rebate even from unexpected quarters.