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In July 2024, the NTUC Enterprise co-operative gave an irrevocable undertaking to sell a majority 51% stake of Income Insurance Ltd to German insurer Allianz. [13]NTUC Enterprise Chairman Lim Boon Heng stated that "is a capital-intensive business and to grow, there is a need to tap the capital markets" and that the sale was necessary because the "strength of Allianz’s financial position will ...
Tan ran NTUC Income with the aim of providing the best value to the policyholders. This meant lower fees for insurance agents, encouragement of direct selling practices which bypassed the agents altogether, [6] and low operating expenses—throughout his 30-year term as CEO, Tan flew in economy class, even on long haul flights. This management ...
The National Trades Union Congress (NTUC), also known as the Singapore National Trades Union Congress (SNTUC) internationally, is the sole national trade union centre in Singapore. NTUC leads the labour movement of Singapore , comprising 59 affiliated trade unions, 5 affiliated trade associations, 6 social enterprises, 6 related organisations ...
When Income changed its status, the government allowed it to move a surplus worth 2 billion Singapore dollars ($1.48 billion) to the new corporate entity, rather than be donated to the country's ...
He was appointed, as the Group Chief Executive at NTUC Enterprise on 1 October 2013. [1] Previously Tan was Chief Executive of NTUC Income Insurance Co-operative Limited in Singapore from February 2007 to September 2013. He has served as a member of the organization's Board of Directors since 2003. [2]
NTUC Income Insurance Co-Operative Pte Ltd: No. of stores and services: 156: No. of anchor tenants: 3 NTUC FairPrice Daiso My First Skool: Total retail floor area: 214,161 sq ft (19,896.2 m 2) No. of floors: 8 (2 basements + 6 retail levels) Parking: 200: Public transit access EW3 Simei: Website: Eastpoint Mall
The NTUC Co-operative Commonwealth for Transport Limited ("COMFORT" or "NTUC Comfort") was hence formed by the NTUC as a social enterprise together with the affiliated NTUC Income and NTUC Welcome. [5] Comfort started operations in 1971 started with a fleet of 1,000 taxis, with the first taxis entering service at the end of January that year ...
The Singapore Labour Foundation (SLF) was established on 12 December 1977 and is a statutory board under the Ministry of Manpower. [1] Its aims are to improve the welfare of union members and to further the development of trade unions in Singapore.