On this episode, we chat with Mr. Tan Suee Chieh, former CEO of NTUC Income and NTUC Enterprise. Suee Chieh was a key voice raising concerns about the Income-Allianz deal when it first broke, and we’ve been trying to get him on the show since last October. After some scheduling delays, we finally made it happen in December 2024, and it was a super insightful conversation, where he talked about what it takes to build an exceptional culture, why he took the step of going public with his views about the deal, and why he believes we need to “reimagine” Singapore. If you have questions for him or want him back for more on this topic, drop a comment below!
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00:00) Intro
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01:51) Tan Suee Chieh's Background
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04:40) Career at Prudential
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09:10) The Income-Allianz Deal
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16:53) Clarifying Misunderstandings
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22:21) Parliamentary Discussion
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31:28) Intro to Capital Lock-In
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33:20) Shareholder Dilution and Trading Issues
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39:01) Social Justice and Actuarial Ethics
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44:54) Enterprise & Capital Injection
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49:02) Income's Social Role
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54:46) Pluralism In Business Models
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59:16) Commitment to Shareholders
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01:02:53) Importance of Exceptional Culture
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01:04:00) Role of Government Ministries
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01:08:47) Challenges of Silo Thinking
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01:10:57) Leadership and Future Vision
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01:13:50) One Shiok Thing
Find Tan Suee Chieh here!