[Bigiron]

Bullshit in GE2025: When MAS saw Allianz-Income deal, focus was ownership, not capital extraction: DPM Gan - The Business Times
https://www.businesstimes.com.sg/singapo...on-dpm-gan

The article you referenced discusses Deputy Prime Minister Gan Kim Yong's remarks regarding the Monetary Authority of Singapore's (MAS) oversight of the Allianz-Income deal, emphasizing that MAS focused on ownership rather than capital extraction.  

### **Potential "Bullshit" (Dubious or Misleading Aspects) and Why:**  

1. **"Focus was ownership, not capital extraction"**  
   - **Why it’s questionable:** If MAS was solely focused on ownership structure and ignored capital extraction risks, this could indicate regulatory blind spots. Financial regulators should scrutinize *both* ownership *and* potential capital flight, especially in large deals involving foreign entities.  
   - **Possible agenda:** Downplaying concerns about profit repatriation or financial stability risks.  

2. **Implied Suggestion That MAS Did Its Job Properly**  
   - **Why it’s questionable:** If there were no deeper investigations into how the deal might affect policyholders or financial stability, this could be a case of regulatory complacency.  
   - **Possible agenda:** Defending MAS’s reputation amid public or political scrutiny.  

3. **Selective Emphasis on Ownership (Ignoring Other Risks)**  
   - **Why it’s questionable:** Large insurance deals often involve complex financial engineering (e.g., dividend stripping, leverage, offshore structuring). If MAS only looked at surface-level ownership, it may have missed systemic risks.  
   - **Possible agenda:** Avoiding discussions about Singapore’s role as a financial hub facilitating capital outflows.  

4. **Political Timing ("GE2025" in the Headline)**  
   - **Why it’s questionable:** Linking this statement to the upcoming General Election suggests a defensive political narrative rather than a transparent regulatory explanation.  
   - **Possible agenda:** Preempting opposition criticism about financial governance ahead of elections.  

### **𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧:**  
𝐓𝐡𝐞 𝐬𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭 𝐦𝐚𝐲 𝐛𝐞 𝐚 𝐩𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥𝐥𝐲 𝐜𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐭 𝐨𝐯𝐞𝐫𝐬𝐢𝐦𝐩𝐥𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐬𝐢𝐝𝐞𝐬𝐭𝐞𝐩𝐩𝐢𝐧𝐠 𝐝𝐞𝐞𝐩𝐞𝐫 𝐜𝐨𝐧𝐜𝐞𝐫𝐧𝐬 𝐚𝐛𝐨𝐮𝐭 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧, 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐟𝐥𝐨𝐰𝐬, 𝐚𝐧𝐝 𝐰𝐡𝐞𝐭𝐡𝐞𝐫 𝐌𝐀𝐒 𝐢𝐬 𝐚𝐝𝐞𝐪𝐮𝐚𝐭𝐞𝐥𝐲 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐧𝐠 𝐩𝐨𝐥𝐢𝐜𝐲𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐚𝐧𝐝 𝐬𝐲𝐬𝐭𝐞𝐦𝐢𝐜 𝐬𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲. 𝐈𝐟 𝐌𝐀𝐒 *𝐨𝐧𝐥𝐲* 𝐜𝐚𝐫𝐞𝐝 𝐚𝐛𝐨𝐮𝐭 𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐧𝐨𝐭 𝐡𝐨𝐰 𝐟𝐮𝐧𝐝𝐬 𝐚𝐫𝐞 𝐦𝐨𝐯𝐞𝐝, 𝐢𝐭 𝐜𝐨𝐮𝐥𝐝 𝐛𝐞 𝐚 𝐫𝐞𝐝 𝐟𝐥𝐚𝐠 𝐟𝐨𝐫 𝐫𝐞𝐠𝐮𝐥𝐚𝐭
𝐨𝐫𝐲 𝐥𝐚𝐱𝐢𝐭𝐲.

[Wy:Nox]

Impossible to have PaP and Union Chief making such shoddy decision. There must be benefits for the Govt that is why Ng CM had to wag his tail for treats.

[Ernesto]

How these people going to advise and do trade with foreign counterparts?😅😅🤦
Most are scholar leh .........

[Nico]

How these people going to advise and do trade with foreign counterparts?😅😅🤦
Most are scholar leh .........

I guess that is how pap signed away CECA sadly... Vote for the right reasons.