SINGAPORE: Income Insurance will continue to provide affordable insurance for lower-income customers after the deal with Allianz, said NTUC Enterprise chairman Lim Boon Heng on Thursday (Jul 25) amid concerns about the German company buying a majority stake in the Singapore co-operative. CNA
There is now a hue and cry over the selling of a state enterprise that was started with the objective of keeping the cost of insurance low and really affordable for Singaporeans. Unlike the 3,000 supporters for the angmo that painted a 'prostitute' looking samsui woman, this time the public protest against this sale would not be well received. The sale will go through for sure.
And Lim Boon Heng has assured the Singaporeans that the premium would be affordable, just like the prices of HDB flats, also affordable for Singaporeans. Singaporeans need not worry.
The German company Allianz is a commercial enterprise with the objective of making profits. They did not buy Income Insurance to do charity for sure. Let's wait and see how this profit oriented company navigate to make insurance premium affordable to Singaporeans and still stay profitable. A clue, they can learn from HDB. If Singaporeans are happy with how HDB priced its flats and keep them affordable, then Singaporeans should have no worry about this Allianz takeover of Income Insurance.
Maybe there will be many subsidies and discounts for Singaporeans eg new buyers, young couples etc etc when they buy insurance from Allianz Insurance. Trust them.
By the way, Income Insurance is another national institution sold, must be for profit. Definitely not sold at a loss. And Allianz must have seen this as a profitable business. Would SIA or DBS be sold for profit in the future?
PS. There are many ways to skin a cat.
8 comments:
It doesn't bother me whether NTUC/SIA/DBS are sold. We peasants have no say in all this stuff as well as we don't really benefit from it even now. I would be worry if our basic need (eg. water/power/medical/communication/food) are All controlled by foreign company.
Have we citizen benefited from SIA(except give some people ego a lift)? In bad time it uses tax money to save it. In good time it pay it shareholder huge awards. We should learn from DrukAir of Bhutan, as it citizen pay a lower fares compare to foreigner.
DBS is just a commercial bank that give very low interest same as OUB/OCBC. It takeover of POSBank did not benefit we peasants but their top management. DBS even sponsored India badminton players instead of singaporean.
For those who are unhappy, it better to show it at the coming election. It time to Make Singapore Great Again.
Next will be NTUC Fairprice.
... Bombay University
I seem to sense that NTUC Fairprice is not doing that well. With membership rebates being cut bone thin like ribbons, I do not make NTUC Fairprice as my choice for buying household items anymore, as I used to do before. Now it is 'where it is cooler, that is where I will go' and Fairprice is not as cheap as it boasted.
Nowadays all these Elites with connections and from cradles to the graves once you are in the PAP inner circle you are destined to be taken care of even in the event you lose your seat in the Parliament.
That's why so many clamoured to be chosen and shall bow and sucked up to them unshamesly.
So now most are alreday well fed and nearing retirements soon.
Those who are holding various top posts in their other lucrative appointments and as shareholders and investors have their last hurrah to further made hay before the sun sets on them.
So keng making a fast buck with good opportunity to let go their last post and made a fortune for their luxurious retirements.
No chance liao after this.
You think Allianz would want to buy over this entity if they do NOT think its a golden goose to slaughter ah?
Germany is in shits situation and they wanted to capitalise on this lucrative business to support and channel the future and present earnings to their Host Country.
You think they offered to buy without consideration of this business?
Once off only benefits the present lot of office bearers and share holders with handsome divends now.
You think they think of your and the Singaporeans future interests ah?
Pat our backsides with the handsome rewards and divends and then bye bye.
NOT our business anymore and let the others carry the baby.
You wont see us anymore.
We had obtained our goal.
Sayonara.
https://youtu.be/aSgEPCZdq0k?si=ISQOMr0WE9kQJutm
Wow PAP sure future candidate next GE as MP.
Not National Slavery MP.
When a country starts to sell its family silver, it is a worrying sign.
https://youtu.be/tvefV3Mh-R8?si=J0vmUhiKegNMERmW
Allianz Securities FRAUD Resurfaces Amidst Singaporean Concerns Over Income Insurance Sale
Sell sell Wow Chia Beh Liao for the Shares and Office Holders.
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