Also, the $2 billion in the sinking funds of its 14 town councils manage are in good hands, said Mr Khaw Boon Wan, the PAP's first organising secretary.

Mr Khaw, the Health Minister, gave the assurance in an interview with The Straits Times on Wednesday, aimed at addressing the issues raised by the public over the investment losses of some town councils.

Read Aaron Low's full story in Friday's edition of The Straits Times.