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Serious How did Tan Kin Lian become CEO of INCOME?!

Scrooball (clone)

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https://sg.news.yahoo.com/blogs/singaporescene/unfairly-criticised-tan-kin-lian-051155638.html

I was unfairly criticised: Tan Kin Lian​


SingaporeScene
9 August 2011


Tan Kin Lian defends the decisions he made in his 30 years at NTUC Income. (Yahoo!)
Tan Kin Lian defends the decisions he made in his 30 years at NTUC Income. (Yahoo!)
Presidential hopeful Tan Kin Lian has said that he has been "unfairly criticised" for some business and investment decisions he made in his 30 years heading Singapore insurance cooperative NTUC income.

In one of his blog posts on Wednesday, Tan cited examples of bad investments, in particular NTUC Income's involvement in the now-defunct overseas resort chain Club Nuansa and Ciputra Mall in Jakarta.

Both ventures led NTUC Income to write off some $30 million. However, Mr Tan said this amount was "more than offset" by over $1 billion in gains from other property and equity investments.

In defence of NTUC Income operating some businesses unrelated to insurance, Tan said that these involved small sums of money and were meant to improve policyholders' lifestyles.

He said, "With the help of colleagues, we grew the assets 600 times; from $28 million in 1977 to $17 billion when I left in 2007."
In addition, he said that in running NTUC Income to benefit policyholders, he had adopted two key strategies -- he used cooperative principles and he kept operating expenses low.

Tan said that under the cooperative principles, the dividends paid to shareholders, restricted by law, averaged 6 percent a year.
He also said that in the second half of his time at NTUC Income, these cooperative principles started to diminish as more directors were taken from outside for their management and professional experience.

"Coming from the private sector, they are not likely to understand the cooperative principles so passionately," he said.
Also, in order to keep operating expenses low, Tan highlighted that NTUC Income paid insurance agents lower commission rates than the market industry and that his own salary was half that of his counterparts in the industry.

He said that he chose not to spend "large sums of money on computer systems, on expensive management consultants and large-scale advertising" even though they may have contributed to running the cooperative in a "more professional way."

His comments come in light of NTUC Income revealing last week that Tan was asked to leave because it needed to "move to the next level" and "professionalise" itself. :rolleyes:

"The ultimate test is as follows -- will a 'more professional' approach give better return to policyholders, charge lower premiums for the insurance and provide better service to the policyholders?" Tan asked.
 

Boliao

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Screenshot 2023-08-16 at 1.04.34 PM.png
 

Scrooball (clone)

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He was asked to F off for not being able to take INCOME to the next level? Worse, he needed to leave so that INCOME can become professional? Lol
 

JohnTan

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He said that he chose not to spend "large sums of money on computer systems,

This moron Tan Kin Lian may very well remove the computer systems in the Istana to save money should he become the next President. Samsters and sinkies should do the right thing and vote for SM Tharman instead!
 

sbfuncle

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Ntuc income was already auto piloting when tkl took over. Anyway certain businesses doesn't require very wise or smart person to steer to success. Eg are those limited license to operate like casinos, sg pool, banks , insurance companies.
 

Scrooball (clone)

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Ntuc income was already auto piloting when tkl took over. Anyway certain businesses doesn't require very wise or smart person to steer to success. Eg are those limited license to operate like casinos, sg pool, banks , insurance companies.
We should be happy that he didn’t run Income down to the ground. Lol knn don’t invest in computer system? That’s like a basic infrastructure!
 

jw5

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He was a grassroots leader in Marine Parade for many years. You figure out for yourself whether there is a connection. :unsure::sneaky::laugh:
 

Scrooball (clone)

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He was a grassroots leader in Marine Parade for many years. You figure out for yourself whether there is a connection. :unsure::sneaky::laugh:
Grassroots leader to CEO of a national insurance company. That's quite a leap.

People don't get that far without sucking or stamping on some cocks!
 
  • Wow
Reactions: jw5

mojito

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Ntuc income was already auto piloting when tkl took over. Anyway certain businesses doesn't require very wise or smart person to steer to success. Eg are those limited license to operate like casinos, sg pool, banks , insurance companies.
Under write insulance with out compete is bao jiak one the premiums. More steady than Mao shan wang. :biggrin:
 

Scrooball (clone)

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Wow..... this guy literally is PAP

https://www.channelnewsasia.com/sin...bid-former-ntuc-income-chief-5-things-3693821

FORMER PAP MEMBER

Mr Tan was a member of the ruling People’s Action Party (PAP) from the 1970s to 2008, but did not hold public office. He served as branch secretary at Marine Parade from 1976 to 1979, then became chairman of the Marine Parade Community Centre.

Despite his past links to the ruling party, he has described himself as an independent candidate and said he was "from outside the establishment".

When asked about this, Mr Tan said at a press conference on Friday (Aug 11) that “the PAP at that time was a very different PAP from today”.

“I was very proud to be helping the PAP in those days when it was very clear that it (has) the support of the population, a large part of the population, and I did what I could to contribute to them,” he said.

“The PAP today is quite different. I think many people feel that they are more towards the elite and not towards the ordinary people. So therefore, you must remember the PAP itself has changed its orientation.”

He added that this was why he left the party 15 years ago.
 

Scrooball (clone)

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Er.... he went to Harvard. haha..too bad it's not the real deal.

And seems like he doesn't even know how to update his Linkedin Profile properly. Why was he paying compliments to 'Francis Tan' on his experience section?

1692277573919.png
 

sbfuncle

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Er.... he went to Harvard. haha..too bad it's not the real deal.

And seems like he doesn't even know how to update his Linkedin Profile properly. Why was he paying compliments to 'Francis Tan' on his experience section?

View attachment 187457
His education level lower than mine :eek:
30 years cbl in ntuc
46 years sleeping partner as director so he need to mention Francis tan else is not honest
Overall I think his current brain function needs a full overhaul
 

Hypocrite-The

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Ah Lian is an asshole of the 1st degree. It's because of his narcissist attitude that cause ah Bock to loose the erection giving the victory to KFC and things just get worst for singkies but better for the pinky... Why he never say anything about his involvement in the PE when he contested?
 

Scrooball (clone)

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His education level lower than mine :eek:
30 years cbl in ntuc
46 years sleeping partner as director so he need to mention Francis tan else is not honest
Overall I think his current brain function needs a full overhaul
Overhaul? More like scrap it. Though I suspect that its an equally futile endeavour.
 

Hypocrite-The

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Ah Lian knows he is fucked if he contest

Tan Kin Lian will not run for president if George Goh qualifies
The Presidential Elections Committee must announce the eligibility results of applicants by Aug. 21.

Paul Rin |


August 17, 2023, 06:58 PM



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Presidential hopeful Tan Kin Lian said on Aug. 17 that he will not run for president if fellow aspirant George Goh qualifies for the election.

Tan was speaking to reporters during a walkabout at Bedok Square Food Centre, The Straits Times and Lianhe Zaobao reported.

He said: “If the Presidential Elections Committee (PEC) decides there will be a four-way contest, I will not submit my nomination form and I will give my very best wishes to George Goh."

He also added his advisors cautioned him from making such a statement, worried that it could dishearten his supporters.

However, Tan disagreed, and said that assuming Goh qualifies, he would make for a better candidate: “He’s younger... he’s more enthusiastic, he has a large organisation and large support.”

Tan's statement comes a few days after he proposed a discussion with Goh on who should step down should they both qualify for the elections, as he was worried about votes being split between "independent candidates".

Goh responded by saying if a person comes forward to run as president, they must put all of their effort into it, so that people will know they are genuine in their desire to serve the nation.

Goh also said no such arrangement existed between the two of them, and advised Tan to "focus on [his] campaign".

On Thursday, Tan said Goh had recently made some "very nasty" comments about him, but he was "beyond this nastiness" and hoped Goh would not take his earlier words to heart.

Tan also added that he still thought highly of his fellow presidential hopeful, and would offer him support if the PEC finds him eligible for the election.

Regarding another statement he'd made recently about the "very rushed" election timeline, Tan sought to clarify that his concern was not about the application window for certificates of eligibility, but the "time from announcement of the candidate to nomination – that is less than one day".

With Nomination Day on Aug. 22, the PEC has up till Aug. 21 to announce the eligibility of applicants.

Tan said it was "unreasonable" to expect a candidate to spend resources for their campaign, such as making banners and posters, when the status of their eligibility is still in question.

Top photo from Tan Kin Lian's Facebook and Paul Rin


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