Ng Chee Meng should account for his role in Allianz deal since he’s standing for election: Tan Suee Chieh

Less than a week before Singapore goes to the polls in the 2025 General Election, former Income chief executive officer Tan Suee Chieh has lobbed a bombshell at NTUC chief Ng Chee Meng, who is contesting Jalan Kayu SMC.

Mr Tan asked Mr Ng to address the collapsed deal for Allianz to acquire Income, which Mr Ng duly did during an election rally that night.

Ng Chee Meng ‘remained silent’ on Allianz deal: Tan

Mr Tan, who was Income CEO from 2007 to 2013 and NTUC Enterprise Group CEO from 2013 to 2017, posted an open letter to Jalan Kayu voters on LinkedIn on Sunday (27 April).

It noted that Mr Ng as NTUC Secretary-General had endorsed the sale of Income to the German financial services company in a statement on 5 Aug 2024. If it went through, Allianz would have acquired a 51% stake in Income for about S$2.2 billion.

In late July, though, Mr Tan had written privately to him to express his concerns over the deal.

However, Mr Ng “did not respond” to any of his representations, Mr Tan alleged.