A LEGAL BASIS HAD BLOCKED THE LEADER.
After more information after surfaced, the government expressed concerns about how a new object was fulfill Income’s social vision in response to assurances given to the , Ministry of Culture, Community, and Youth.
The two organizations next discussed how to balance the responsibilities of both sides before presenting the circumstance to the Cabinet. Given the competing interests, both from the perspective of social objective and from the perspective of the healthcare industry, the Cabinet discussed and decided that the deal could not be successful. It needs to be blocked, according to Mr. Gan.
In order to provide MAS the legal justification to halt the Income-Allianz deal, it was decided to update the Insurance Act.
We had a full discussion on both of the parliament’s sessions, and even after the sessions, MPs were free to ask any additional political concerns regarding this agreement. I believe there was plenty of room for MPs to ask questions, and the discussion was extremely engaged, very long, with many questions raised by MPs, and we answered all of the questions,” said Mr. Gan.
” I think the entire process was open and honest, and we had the opportunity to ask questions of MPs about every aspect of the offer,” he said. And once the information were settled, the Bill was passed, and the Workers ‘ Party, for reasons that they have explained in parliament, voted not to participate in the vote.
While the WP discussed the Income-Allianz package at its protest the evening before, Prime Minister Lawrence Wong asserted on Tuesday that the government finally halted the deal, with MAS, led by his deputy, proposing new laws that would allow the government to do so.
While Tan Suee Chieh, the former NTU Income Chief, credited him and the state for the action, Mr. Wong said,” Really, he shouldn’t become crediting me.”
He said,” He should be crediting Gan Kim Yong and MAS for the insurance act amendments that put a stop to the deal” because they did so.
” We are therefore the people who closed the deal,” he said. We made sure it didn’t occur, not anyone else. And we had a whole discussion about this in parliament, explaining the situation, and explaining why we had to take the actions we did.