Commentary: What the surprise decision on Income-Allianz deal says about the Singapore government’s priorities

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Commentary: What the surprise decision on Income-Allianz deal says about the Singapore government’s priorities - Channel News Asia

Quick Summary:

The Singapore government’s decision to block the Income-Allianz deal is telling of the new leadership’s willingness to act when there are important principles at stake, says former veteran newspaper editor Han Fook Kwang.

If the deal meets all the requirements of the Monetary Authority of Singapore (MAS) and the Registrar of Cooperatives, it cannot be arbitrarily blocked without seriously damaging Singapore’s reputation as a leading financial centre based on the rule of law.

They were reflecting widespread public concern over whether Allianz, a commercial profit-driven, publicly listed company could be counted on to keep faith with the values of a social enterprise.