The Ministry of National Development will also monitor estate maintenance, cleanliness as well as lift performance and use these factors to grade and benchmark the TCs' performance so that residents can have a better idea of the performance of their TCs.

Initial checks have shown that TCs do not have excessive sinking funds, a mistaken notion some residents had after some TCs investments in troubled structured products came to light recently.

Ms Fu added that the government has no intention to revise the cap of 35 per cent on Town Councils' investments in stocks, funds or securities that are not issued by the Singapore government or any statutory body, or not guaranteed by the Singapore government.