[Consolidated] Income Insurance, Allianz in talks on tie-up, seeking regulatory approval

[bruiser69]

Lim Boon Heng how?

 

[Fightfat]

It is a good move to reject this deal . It goes to show that someone is doing a nice job instead of rubber stamping every proposal , selling of NOL , Natsteel , charted semiconductor….

 

[sizzy6]

because never give any gifts .. like hotel stay, private jet, concern tickets etc ?

 

[Coffeelix]

ncm where got so so easily write off. i find lhl favour ncm more than lw. if he is not voted out, lw would not even stand a chance to be PM.

really? NCM so powder full ?

Evidently NCM is of NO help to sg…

Sg will NO wat to do… irregardless of who is backing him …

 

[Coffeelix]

Lim Boon Heng how?

Think the 5G will do their due diligence as sg is

 

[focus1974]

... The fraying of the proposed union between German insurer Allianz and Singapore’s Income Insurance has left people close to the matter shell-shocked and red-faced.

... Sources told The Straits Times that parties who would normally have been kept abreast of developments in the proposed deal were not told in advance about the Government’s move on Oct 14 to halt the planned marriage.

... Key people close to the proposed deal said the decision was kept to a small group and that they were not privy to the decision, which has been described as “a total shock”.



Think can write off NCM's comeback liao.

LW prolly does not like him or has someone else in mind for Defence Minister portfolio.

Also, Lim Boon Heng will have to step down for pushing a deal not in the best interest of stakeholders such as customers, employees and the government.

This will also pave the way for HSK to be off-ramped to take on the roles Lim Boon Heng vacates from Temasek and NTUC.

Kill many birds with one stone.

Not bad for the 5-month old PM.



Full article:

LW FTW!

 

[skylink67]

Means NTUC can push through the deal but end up offending their bosses.

 

[vai_fan]

Dunch need to think so much

Probably just one big wayang to prepare you for the erections

 

[boredom2012]

Lol no COI going to convenve to investigate ntuc role and the benefits for those involved in this deal

 

[pwongkk]

NCM won't be write off, foresee he will helm a GRC and make a parachuting comeback

A pilot uses a parachute when he needs to bail out.

 

[Itsnotfunny]

Here is the real reason quoted from biz times :
“Allianz proposed that Income reduce its existing share capital and return this capital to shareholders, and projected that the insurer could return some S$1.85 billion in cash to shareholders within the first three years after the completion of the transaction”

imagine $2.1b purchase price and within 3 years take back $1.85m. Where on earth got such good deal. Meaning that Alliance can reap close to 90% of the entire investment and still owns NTUC. Can sell after 3 years for more $. So no diff from raiding the cash reserve.

 

[KYZT2021]

but will silent mode appear?

 

[Whimsica]

Here is the real reason quoted from biz times :
“Allianz proposed that Income reduce its existing share capital and return this capital to shareholders, and projected that the insurer could return some S$1.85 billion in cash to shareholders within the first three years after the completion of the transaction”

imagine $2.1b purchase price and within 3 years take back $1.85m. Where on earth got such good deal. Meaning that Alliance can reap close to 90% of the entire investment and still owns NTUC. Can sell after 3 years for more $. So no diff from raiding the cash reserve.

Yes this is the reason cited.

But this fact was already known earlier and CHT and AT could have cited this and blocked the deal when Parliament was discussing in August.

The backlash from public as well as Allianz counting the chicken before they are hatched pushed gahmen to use this reason to block the deal and in the process publicly hang key NTUC/ Income guys .

It's the very public admonishing we are talking about in this thread.


https://www.channelnewsasia.com/com...ce-allianz-deal-government-priorities-4679031

Ouch!

These disclosures have made Income look inept and out of touch. It was effectively thrown under the bus.

Much now rests on the quality of Income’s management and board to overcome this setback, and make changes if necessary, including to its own organisational structure.

 

[Ev0d3vil]

" but leaves door open if concerns over public interest are fully addressed "

I'll be back...

After getting a strong mandate in the next GE.

 

[doppypoppy]

ncm where got so so easily write off. i find lhl favour ncm more than lw. if he is not voted out, lw would not even stand a chance to be PM.

u got see ncm give speeches before, always misspeak then can see he is frustrated with his own mistakes while speaking, just go see his may day speech. #1 requirement of PM is to speak well, if not, the fate will be like HSK, CCS.

 

[bruiser69]

LW FTW!

So LW throw the NTUC head honchos, NCM and LBH all under the bus and himself come out smelling like a rose. He did the right thing though. Wansui wansui

 

[bakuganboy]

may be there is a deal after a deal. buys a seemingly unfavourable deal, then sell to a RMB company. structure it in such a way, offshore.

 

[MaskedRider555]

flipped here n there

 

[jacko123]

i got a feeling LW dislikes ex-SAF paper generals.
hope to see all these worthless chums gtfo.

 

[queriesonforum]

Will affect projections for the dd?