SINGAPORE: Former NTUC Income CEO Tan Suee Chieh has issued a strong appeal to voters in Jalan Kayu Single Member Constituency (SMC), where Ng Chee Meng, Secretary-General of NTUC, is contesting for a seat in Parliament.
Tan served as CEO of NTUC Income from 2007 to 2013 and subsequently as Group CEO of NTUC Enterprise from 2013 to 2017.
In an open letter dated 27 April 2025, Tan urged residents to hold Ng accountable for his leadership role in the failed attempt to sell Income Insurance to German insurer Allianz in 2024.
On 17 July 2024, Allianz announced a S$2.2 billion plan to acquire a 51% stake in Singapore’s Income Insurance Ltd, aiming to elevate its position from the ninth-largest to the fourth-largest composite insurer in Asia.
The sale proposal included a plan to extract S$1.85 billion from Income’s reserves.
Ng made a very public endorsement of the proposed sale on 5 August 2024, a day before parliamentary debate.
Tan criticised Ng’s role, highlighting that between 6 August and 14 October — when the deal was ultimately blocked in Parliament — Ng did not offer any clarification, even as public concerns mounted.
The deal eventually collapsed following widespread public outcry and urgent government intervention.
Allianz officially confirmed the withdrawal of the deal on 16 December 2024.
Tan’s Efforts to Raise Concerns
In his letter, Tan revealed that he had privately written to Ng and NTUC President K. Thanaletchimi in late July 2024 to express his concerns regarding the proposed sale.
He also posted extensively on social media to alert the public to the risks and implications of the acquisition.
Despite these efforts, Tan alleged that Ng neither responded to his private representations nor engaged publicly on the issue as scrutiny intensified.
As Secretary-General of NTUC and a member of the NTUC Enterprise Board that approved the deal, Tan said Ng must bear leadership responsibility for the controversy.
Tan argued that now, as Ng seeks the mandate of Jalan Kayu residents, it is both fair and necessary for voters to question his role and decisions.
“We live in a troubled world. Citizens must speak up on matters that affect our collective future, especially when decisions are taken in our name,” Tan wrote.
For a young democracy like Singapore, he added, such open engagement is vital to the nation’s future and resilience. Speaking up is not just a privilege, but a citizen’s responsibility when it truly matters.
In his open letter, Tan offered ten questions for voters’ reflection.
He emphasised that these questions were raised seriously and in good faith, not out of partisanship, but out of concern for leadership responsibility, the stewardship of public institutions, and the need for transparency when public trust is involved.
Tan concluded by urging the people of Jalan Kayu and citizens of Singapore to weigh these issues carefully as they consider their vote and the future of the nation.
Public Reactions on Reddit
Tan’s open letter sparked strong discussion on Reddit, with netizens reacting sharply.
One user commented, “It is troubling that Mr Ng was sufficiently convinced of the merits of the proposed deal and publicly declared support ‘after full and serious consideration’, yet simultaneously appeared unaware of the capital extraction plan.”
Another questioned the organisational oversight, writing, “I’m shocked how such a big decision can pass through the organisation; are there no gatekeepers? Is everyone just sleeping in the organisation?”
They also questioned internal controls, noting, “In corporate, something like that must have gone through multiple rounds of meetings. Where is Compliance and Legal?”
Several users highlighted deeper concerns, stating, “The real red flag isn’t that they tried to sell NTUC Income. It’s that they thought no one would care. If Singaporeans hadn’t kicked up a fuss, they would have gotten away with it.”
Others noted that Ng was not the only one who should be held accountable.
They cited Workers’ Party leader Pritam Singh’s remarks at a WP rally on 26 April, highlighting that the other labour MPs “kept their mouth shut throughout this entire debacle” and should also be held responsible.
Some users also noted that Ng had so far avoided tough questions by saying that NTUC was conducting a “review,” which they suspected was a stalling tactic intended to outlast public outrage.
On 26 April, Ng defended his involvement in the Income-Allianz deal in response to media queries.
He stated that the proposed sale was conducted in good faith and that a review had been initiated after the government halted the transaction, to learn lessons from the episode.
Ng reiterated this point during his rally speech on 27 April, saying, “I’ve initiated a review in NTUC Enterprise so that we can learn the right lessons humbly and do better for fellow Singaporeans.”
Netizens Question Ng’s Candidacy in Jalan Kayu
Ng’s candidacy in Jalan Kayu SMC drew sharp criticism from netizens.
One user remarked, “I see him as a traitor to the lower-income and middle-class folks. I cannot in good faith vote for him.”
Several users criticised the People’s Action Party (PAP) for fielding Ng, arguing that he had “demonstrated no regard for defending and protecting Singaporean workers and interests.”
Some speculated about internal party dynamics, suggesting that Senior Minister Lee Hsien Loong, who initially brought Ng into politics, was backing his campaign.
They pointed out that Jalan Kayu had been carved out from Lee’s stronghold in Ang Mo Kio GRC.
Calls for a Stronger Opposition
Many users viewed the controversy as a stark reminder of the need for a stronger opposition presence in Parliament.
“If not for the Workers’ Party raising this in Parliament, NTUC Income would have been sold,” one commenter said.
Another criticised the lack of scrutiny from PAP MPs, noting that no backbenchers questioned the sale or sought answers on why an emergency bill was needed to block it.
“Without opposition members in Parliament, can you imagine how it would have been swept under the carpet?” a user asked.
Summarising the sentiment, one user wrote, “This guy [Ng] has single-handedly proven why we need credible opposition in Parliament to ask the relevant questions. Without it, issues like this will repeat again.”
Pritam Singh’s Criticism Over NTUC’s Relationship with the PAP
Workers’ Party (WP) chief Pritam Singh addressed the issue during a WP rally on 26 April 2025.
Singh suggested that PAP’s two candidates, Ng Chee Meng and Desmond Choo, NTUC’s Assistant Secretary-General, could continue serving workers even if they were not elected to Parliament.
He urged voters to support WP candidates Andre Low in Jalan Kayu and Kenneth Foo in Tampines Changkat.
During his speech at Temasek Junior College in Tampines, Singh criticised the close ties between NTUC and the PAP, describing the labour movement as a “guaranteed trampoline” for PAP candidates who lose elections, allowing them to continue lobbying the government.
“It is the safest trampoline for a politician anywhere in Singapore, and maybe anywhere in the world,” Singh said, highlighting the symbiotic relationship between NTUC and the ruling party.
Despite his criticisms, Singh praised rank-and-file unionists for their dedication to improving workers’ rights.
“Union work is not easy, and I thank them for their passion and effort,” he stated.
He argued that helping PAP candidates Ng and Choo focus full-time on their NTUC roles would allow them to better serve workers and perhaps even implement ideas proposed by the WP.
The Jalan Kayu race on 3 May 2025 will see Andre Low from the Workers’ Party face off against Ng Chee Meng.
Meanwhile, in Tampines Changkat, Kenneth Foo of the WP is challenging Desmond Choo.
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