SINGAPORE: National Trades Union Congress (NTUC) secretary-general Ng Chee Meng has confirmed that the labour movement respects and accepts the Government’s decision to halt the deal involving the majority stake sale of NTUC Income to German conglomerate Allianz.
The former ruling party minister said in a Facebook post last night (16 Oct) that union leaders who backed the deal, were naturally worried about the potential consequences of the decision.
Their concerns were addressed when Deputy Prime Minister Gan Kim Yong, Minister for Culture, Community and Youth Edwin Tong, and Second Minister for Finance Chee Hong Tat engaged in a candid dialogue with NTUC leaders during a recess in Parliament on the same day the Government’s decision was announced . This meeting provided an opportunity for union leaders to voice their concerns and seek clarity on the government’s stance.
Despite the halted deal, NTUC reaffirmed its commitment to prioritizing workers’ welfare, stressing that its core mission remains unchanged. While the acquisition plan cannot proceed in its current form Mr Ng reiterated that NTUC’s dedication to advocating for the interests of workers remains steadfast.