The troubles in AHPETC have nothing to do with AIM. It is dishonest to link the two.
The PAP TCs consolidated ownership of the system under AIM as the start of the process to tender for a new system. By this time, the system was obsolete and worth very little.
“We entered into the transaction with Aim with the objective of benefitting the TCs. Over the last two years, the intended benefits have been realised. There is thus no basis to suggest that the AIM transaction did not serve the public interest, or was disadvantageous to residents in the TCs.” – Dr Teo Ho Pin
AIM and its directors did not make any money from this consolidation and transfer of ownership.
The MND conducted an official inquiry and concluded that nothing wrong was done and this was discussed in Parliament.
When the WP took over AHPETC, it gave notice to AIM to terminate the contract for the system as it wanted to develop its own system. When it needed more time to do so, AIM granted extensions of time. AHPETC thanked AIM in writing for its assistance.
With AHPETC’s accounts being flagged red and submitted late, the WP only raised the AIM issue 2 years later. But those had nothing to do with AIM.