Income-Allianz deal: MPs raise concerns about government blocking foreign investment deals, impact on reputation

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Income-Allianz deal: MPs raise concerns about government blocking foreign investment deals, impact on reputation - Channel News Asia

Quick Summary:

Second Minister for Finance Chee Hong Tat said Singapore remains committed to being an "open, rules-based and pro-enterprise business hub”.

Information given to MAS by financial institutions is confidential and normally would not be shared with government agencies.“We recognise that companies submit such information for a specific regulatory purpose and not to enable general government evaluation,” said Mr Chee.

He said he was concerned about whether the rejection of the Income-Allianz deal would impact Singapore’s reputation as a global hub that welcomes international investments.“We have never been averse to foreign investors acquiring Singapore companies,” he said.