SG Justifies Blocking $2b Capital Withdrawal in Income-Allianz Deal
SG Justifies Blocking $2b Capital Withdrawal in Income-Allianz Deal
To ensure a shareholder payout for fiscal year 2022 (FY 2022), Income sought approval from the Monetary Authority of Singapore (MAS) to reduce its share capital, as all retained earnings had been converted to share capital.This proposed extraction does not align with the representations made to MCCY.
拟议的提取与向MCCY提出的陈述不一致。
Singapore clarified the recent capital reduction and the role of Income Insurance's financial adviser in a proposed transaction with Allianz, saying that Income Insurance undertook a one-time capital reduction of approximately $31.8m (S$43m) in 2023.
新加坡澄清了最近的资本减免以及收入保险财务顾问在与安联的拟议交易中的作用，称收入保险在2023年一次性减少了约3180万美元（合4300万新元）的资本。
This move was part of a transition following its corporatisation in 2022, during which NTUC Income Co-operative's assets, liabilities, and retained earnings were transferred to the newly formed corporate entity, Income Insurance, explained Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong in a written parliamentary response to Leong Mun Wai, NCMP.
副首相兼贸易和工业部长甘金勇在国会对NCMP梁门伟的书面答复中解释说，此举是2022年公司化后的过渡的一部分，在此期间，NTUC收入合作社的资产、负债和留存收益被转移到新成立的公司实体收入保险。
To ensure a shareholder payout for fiscal year 2022 (FY 2022), Income sought approval from the Monetary Authority of Singapore (MAS) to reduce its share capital, as all retained earnings had been converted to share capital.
为了确保2022财年（2022财年）的股东派息，Income寻求新加坡金融管理局（MAS）的批准以减少其股本，因为所有留存收益均已转换为股本。
Gan highlighted that the FY 2022 payout to shareholders was consistent with Income's past dividend distributions and was lower than the average of $45.9m (S$62m) distributed annually by NTUC Income in the preceding five years.
甘强调说，2022财年对股东的派息与Income过去的股息分配一致，低于NTUC Income在过去五年中每年分配的4,590万美元（合6200万新元）的平均水平。
However, he noted that the proposed plan to extract $1.37b (S$1.85b) over three years is substantially different in scale and nature from regular annual dividends.
但是，他指出，在三年内提取13.7亿美元（合18.5亿新元）的拟议计划在规模和性质上与定期年度分红有很大不同。
This proposed extraction does not align with the representations made to the Ministry of Culture, Community and Youth (MCCY) when Income sought an exemption from the Co-operative Societies Act as part of its corporatisation.
这一拟议的提取不符合文化、社区和青年部（MCCY）在公司化过程中寻求豁免《合作社法》时向文化、社区和青年部（MCCY）提出的陈述。
Regarding the role of Income's financial adviser, Morgan Stanley Asia (Singapore) was appointed by Income to provide financial advice and assist with structuring and negotiating the transaction with Allianz.
关于Income财务顾问的角色，摩根士丹利亚洲（新加坡）受Income任命，负责提供财务建议，并协助安排和谈判与安联的交易。
However, Gan pointed out that Morgan Stanley's role is not equivalent to that of an independent financial adviser (IFA), who would typically evaluate the fairness and reasonableness of an offer in a voluntary general offer (VGO) scenario.
但是，甘指出，摩根士丹利的角色并不等同于独立财务顾问（IFA），后者通常会评估自愿全面收购（VGO）情景下要约的公平性和合理性。
Currently, the Income-Allianz transaction remains in a pre-conditional VGO stage, meaning no formal VGO process, including IFA evaluation, has commenced.
目前，Income-Allianz的交易仍处于先决条件的VGO阶段，这意味着包括IFA评估在内的正式VGO程序尚未开始。
The government has stated that the transaction, in its current form, will not proceed.
政府表示，该交易将不会以目前的形式进行。
($1.00 = S$1.35)
（1.00 美元 = 1.35 新元）
