Mastodawn

#LetterOfTheYear
"advise leaders of #Income & #NTUCEnterprise to stop try'g to sell Income to a larger #insurance co. Income's a v #successful #socialenterprise.. shld focus on #organicgrowth not seek'g strategic partner.. I understand tt chairman of Income is also chairmn of Morgan Stanley. In view of tis, it was inappropriate for Income to appoint MS as FA.. chairmn shld've advised his board not to appt his bank bec it gives rise to an appearance of #conflictofinterest"
https://www.straitstimes.com/opinion/forum/forum-income-should-focus-on-organic-growth-and-not-seek-a-strategic-partner

Read more at straitstimes.com.

The Straits Times

#Singapore Income’s deal w Allianz raises fears of #profit over #socialmission
"In a letter in ST Jan 2022, CEO Income Andrew Yeo said e exercise wld only change Income’s legal form & e new entity wld remain an #NTUC #socialenterprise. “NTUC Enterprise will continue to be e #majorityshareholder of e new entity”.. former Gp CEO #NTUCEnterprise Tan SC, echoed tt e understanding was NTUC Enterprise wld remain majority shareholder. This understand'g was breached in < 2 years"
https://www.scmp.com/week-asia/economics/article/3272684/singapore-income-insurances-deal-allianz-raises-fears-profit-over-social-mission

Critics such as diplomat Tommy Koh say Income Insurance’s key role is to serve Singaporeans by keeping premiums affordable.

South China Morning Post