Forum letter written by our esteemed Prof Tommy Koh.
The unforgivable part about this whole episode was the capital reduction exercise. It was not disclosed at the outset and had to be discovered by MCCY in an indirect way through MAS. The capital reduction would have led to a financially weaker NTUC Income. Promises to MCCY to enhance Income’s financial strength were broken. Not nice lah. Trust is broken liao.
submitted by /u/Litaiy
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r/singapore Forum letter written by our esteemed Prof Tommy Koh. The unforgivable part about this whole episode was the capital reduction exercise. It was not disclosed at the outset and had to be discovered by MCCY in an indirect way through MAS. The capital reduction would have led to a financially weaker NTUC Income. Promises to MCCY to enhance Income’s financial strength were broken. Not nice lah. Trust is broken liao. https://www.straitstimes.com/opinion/forum/forum-income-should-focus-on-organic-growth-and-not-seek-a-strategic-partner submitted by /u/Litaiy [link] [comments]
Forum letter written by our esteemed Prof Tommy Koh.
The unforgivable part about this whole episode was the capital reduction exercise. It was not disclosed at the outset and had to be discovered by MCCY in an indirect way through MAS. The capital reduction would have led to a financially weaker NTUC Income. Promises to MCCY to enhance Income’s financial strength were broken. Not nice lah. Trust is broken liao.
submitted by /u/Litaiy
[link] [comments]