About 2.75 million Singapore Qualified To vote in the general elections of the country of Southeast Asia on May 3, the Prime Minister’s choice to lead the city for the next half.
In the nine days of election campaigns, one of the shortest world, a A failed deal Between Allianz, the giant Global 500 Insurance is returned, and the local insurance company’s income from last year to the spotlight.
Allianz offered income insurance for $ 1.7 billion last July. The deal was controversial: Singaporeon is concerned that the company’s new owner may push income away from his social mission of providing reasonable prices for Sengaporen.
A few months later, in October, Singaporean officials Prohibited The deal. Allianz abandoned the acquisition offer in December.
Now, politicians of the ruling people’s work party and its main opposition, the Labor Party, put the deal that has now ended to register political points in the hot electoral districts. The main topic of discussion: Why was Singaporean officials well with the deal before changing their minds later, who failed to ask questions at that time.
Speaking on Sunday’s march, NG Chee Meng, President of the National Conference of the National Union, Argue The labor movement initially felt that the acquisition offer was reasonable and would have enhanced income insurance. NG, who was running for a seat in Parliament in Singapore as part of the ruling PAP party, was responding to the arguments that the union should have spoken against the deal.
Income insurance used to be part of the NTUC umbrella. Even after privatizing the income, NTUC ENERPRISE remains a majority contributor, with about 72.8 % of the shares.
However, NG promised “a better work” During the Sunday gathering. “We will do our best, and sometimes we regret that it is not good enough.”
Former Prime Minister Lee Hsin Long Argue The Labor Party would have agreed to the income insurance deal if the opposition party was carrying power. He pointed out that only one member of the opposition in Parliament has inquired about the acquisition, and that the Labor Party refrained from a procedure to prevent the merger.
Pretam Singh, the leader of the Labor Party, accused PAP deputies for not asking questions about the deal last year.
Another WP member, HarPreeet Singh, called for Deputy Prime Minister Gan Kim Young to clarify his role in the joint deal, and Respond To an open message by the former CEO of Income Insurance Tan Suee Chieh.
The letter, addressed to Jean and published on April 27, Questions asked On regulatory control, the changing role of NTUC, and accountability.
On Tuesday afternoon, Jean to request Why did the opposition not ask about the income deal at that time? However, the Deputy Prime Minister also tried to explain the reason that the government of Singapore changed its opinion on the Allianz’s offer. “We want (ED) to support the deal, because it will help the income. But when more details were provided, we decided (we had) to stop the deal,” he explained.
On Saturday, elections will be the first political test for PAP leader, Prime Minister Lawrence Wong, who took over the party last year. PAP, who has been governing Singapore since its independence in 1965, is expected to remain in power after the elections.
This story was originally shown on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/04/GettyImages-1059888464-e1745970613281.jpg?resize=1200,600
Source link