Thursday, May 08, 2008

Non-core business has been profitable

POSTED IN ONLINE CITIZEN
http://www.theonlinecitizen.com/

NTUC Income also had another non-core business, i.e. to manage a shopping mall. The willingness to handle this activity gave us the reason to invest in Eastpoint Shopping Mall in 1998. We bought the shopping mall at a good price.

Over the past ten years, the value of the shopping mall must have appreciated by $50 million.

Taking this into account, the overall business results of the so-called non-core business has been healthy. It is wrong to described them as "bleeding".

The non-core businesses are managed by separate people, and do not distract the insurance people from running the insurance business. Our intention, at that time, was that the "more than insurance" business will help to strengthen the branding of NTUC Income.
Posted by at

3 comments:

Anonymous said...

To a customer (policy holder) the most important thing is that whatever the company do, they (CUSTOMER) must not be negatively and directly affected. What NTUC INCOME did in cutting the annual bonus affects the customer now, directly and negatively. Tell me who (and I mean ordinary folks) wants to get something (terminal bonus) higher when it is in the distant future and not guaranteed?

May 09, 2008 10:30 AM
Anonymous said...

Harvard Professor Perkin predits GDP growth of 6-7% for next 20 years for PRC.(http://news.xinhuanet.com/fortune/2008-05/08/content_8125588.htm)

"If you visit a city in PRC each year, you will not be able to visit all city in PRC during life time." said a China contruction woker who is working in Singapore now.

Exactly the near future and 20 years later is no guarantee growth in Singapore like PRC.

May 09, 2008 11:35 AM
Khiat Han Hwee Adrian said...

Then invest in PRC. The insurance company will invest their Life Insurance fund. The investment may not necessarily be in Singapore.

May 10, 2008 1:42 AM

Post a Comment

Subscribe to: Post Comments (Atom)

Blog Archive