Former NTUC Income CEO Tan Suee Chieh expressed strong opposition to the proposed sale of a 51% stake in Income Insurance to German insurer Allianz.
He described it as a betrayal of the social mission that has guided the company since its inception.
Tan argued that it is not necessary for socially motivated businesses to be part of a multinational group to succeed.
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In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.