NTUC Income chairman = Morgan Stanley SEA chairman. MS = deal financial advisor

[tokiya]

Don't forget. this deal says can extract $1.85b from NTUC Income and return to shareholders when in 2022 NTUC Income got exemption from the Singapore govt on their $2b capital.

Why no one investigate him?

No accountability?

Haven't step down?

In 2022, Income – which at the time was the NTUC's insurance cooperative – proposed to convert itself into a corporate entity, with the members of the co-op receiving pari passu distribution in specie of shares in the new entity.

To do this, it sought exemption from Section 88 of the Co-operative Societies Act (CSA), which stipulates that a co-op that is wound up will have to transfer any surplus funds – after paying its members their original share capital and unpaid dividends – to the Co-operative Societies Liquidation Account to be applied for the benefit of the sector generally.

At the time, Income had assured MCCY that its social mission would not change following the corporatisation exercise; it would be changing only its legal form from a co-op to a non-listed corporate identity.

The government thus accepted Income's rationale for the corporatisation and granted the exemption, allowing it to carry over about S$2 billion in surplus to the new corporate entity.

[Banned User]

No blame culture
Ownself check ownself
Endorsed by 61% voters
39% llst

[jim889]

Don't forget. this deal says can extract $1.85b from NTUC Income and return to shareholders when in 2022 NTUC Income got exemption from the Singapore govt on their $2b capital.

Why no one investigate him?

No accountability?

Haven't step down?

moar marnee in pocket
 

[tokiya]

Up for awareness - even the central committee also don't know

[Mummy1234]

Up for awareness - even the central committee also don't know

U believe? All wayang. Should investigate them all and jail like Iswaran

[jim889]

so selling away the co is a way to extract the $2b into their pocket faster rah

otherwise how to make quick $$$
 

[Suntan]

Govt cannot run business at all.
Conflict of interest gao gao.
Politicians cannot have access to people's hard earned CPF or
use it like a political tool.