Govt blocks Income-Allianz deal (acquisition by Allianz)

 

Singapore blocks Income-Allianz deal but leaves door open if concerns over public interest are fully addressed

The Ministry of Culture, Community and Youth says it is not confident that the proposed transaction would not affect Income, or the co-op movement as a whole to carry out its social mission.

German insurer Allianz announced in July it was planning to buy a majority stake in Singapore's Income Insurance.
(Photos: CNA/Try Sutrisno Foo, Reuters)

Ang Hwee Min

14 Oct 2024

 

SINGAPORE: The Singapore government has intervened to stop the proposed deal between Income Insurance and German insurer Allianz.

From high-rollers to roller-coaster geeks, Singapore's IRs are reeling them in but is it enough to stay ahead?

Having tasted success, new challenges await Singapore’s integrated resorts as neighbouring countries including the Philippines and Japan are ramping up their own tourism offerings.

 

 


Renald Loh

07 Dec 2024

Soaring high at 200 metres and gleaming gold at sunset, the architectural marvel that is Marina Bay Sands (MBS) is at once a striking silhouette of Singapore’s skyline and a symbol of its riches.

While the integrated resort’s (IR) impressive facade and iconic SkyPark have drawn the rich and famous from overseas, its counterpart southwest of the island appeals more to tourists such as 43-year-old Australian Kacy McDonald and her family.

Videos of travel influencers screaming their lungs out on roller coasters at Universal Studios Singapore (USS) and showing off their hauls from its novelty shops had captured the attention of Ms McDonald’s young children.

That's why Resorts World Sentosa (RWS), home to the USS theme park — and not the lavish MBS — was at the top of the list for the family's six-day holiday itinerary.