A BALID ACCEPTION OF THE GLOBAL 500 Allianz insurer is now a political hot potato in the Singapore election

About 2.75 million Singapore are eligible To vote in the general election of the South Country -East Asian on May 3 and choose a Prime Minister to run the city for the next half decade.

And in the nine days of the election campaign, one of the shortest in the world, to Bankruptcy Between Allianz, the 500th Global Insurance Giant and the Local Insurer’s Income Insurance last year, drags on to the point of Mira.

Allianz offered to take on income insurance for $ 1.7 billion last July. The agreement was controversial: the Singapore worried that a new corporate owner could move away the income of his social mission to provide affordable insurance for the Singapore.

A few months later, in October, Singapore officials locked The agreement. Allianz left his candidacy in December.

Now, the politicians of the governing people’s action party and their main opposition, the Workers’ Party, are raising the agreement that is now defined to score political points in very restored constituencies. The main topic of the debate: Why the Singapore officials were good with the agreement before changing their minds and did not ask questions at that time.

Speaking on Sunday in a rally, NG Chee Meng, head of the National Congress of the Union of Shops, argued That the labor movement initially considered that the acquisition offer was reasonable and would have strengthened income insurance. NG, who goes to a seat in the Parliament of Singapore as part of the Pap governing party, responded to the arguments that the Union should have spoken against the agreement.

Revenue insurance used to be part of the NTUC umbrella. Even after the privacy privacy, Ntuc Enterprise is still a majority shareholder, who has around 72.8% of the shares.

Still, NG promised to “do better” During the Sunday rally. “We will do our best and sometimes I am sorry that it is not good enough.”

Former Prime Minister Lee Hsien Loong argued That the part of the workers would have approved the income insurance agreement if the opposition party had had power. He said that only one member of the Parliament opposition had asked about taking office and that the workers’ party abstained from a measure to block the merger.

Pritam Singh, a workers’ party leader, has accused PAP’s labor deputies for not asking questions about the agreement last year.

Another WP member Harpret Singh demanded that the Deputy Prime Minister, Gan Kim Yong respond to an open letter from the ex -Chief of Lieguer Chieh Income Insurance Delegate.

The letter, addressed to GAN and published on April 27, Questions raised On regulatory supervision, the changing role of the NTUC and the accountability.

Tuesday afternoon, Gan asking Why did the opposition never question the revenue agreement at that time. But the Deputy Prime Minister also sought to explain why the Singapore government changed his mind for Allianz’s candidacy. “We want Ed (Ed) to support the agreement, because it will help the income. But when more details were provided, we decided (we had) to stop the agreement,” he said.

The Saturday election will be the first political test for the PAP leader, Prime Minister Lawrence Wong, who took over the party last year. The PAP, which has governed Singapore since its independence in 1965, is expected to remain in power after the election.

This story originally presented to Fortune.com

Source link