In his closing speech, Mr Chee said the law was not being applied retrospectively as there was “no formal application yet by Allianz to obtain effective control and become a substantial shareholder of Income”. Instead, the terms of the proposed transaction clearly stated it was subject to regulatory approval by MAS, he said. The Bill … Read more
Income was a co-operative when it was created in 1970 as NTUC Income Insurance Co-operative Limited. Under Section 88 of the Co-operative Societies Act, if a co-op is wound up, members will be paid their capital and dividends up to a cap. Beyond this limit, any surplus funds will be transferred to the Cooperative Societies … Read more
For now, Tencent is taking up one floor, or about half of a 56,000-square-foot (5,203-square-metre) flexible working space, in the tower. The Shenzhen-based firm may eventually move staff from another co-working centre at nearby CapitaSpring tower when the lease ends into the new space, the people said. CapitaSky is prominently located at the junction of … Read more
