Latest news with #MCCY
New Paper
11 hours ago
- Entertainment
- New Paper
Redeem free national flag via Shopee under NDP 2025 initiative
Households here can now redeem a free national flag each on Shopee, in a partnership between the online shopping platform and the National Day Parade (NDP) organisers. The initiative, called Fly Our Flag, runs until 11.59am on July 15, or while stocks last, the Ministry of Culture, Community and Youth (MCCY) said in a statement on June 27. To redeem the flag, go to log in with Singpass and choose to have the flag delivered at a cost, or collect it from a collection point for free. "This effort aims to make it easier for families to come together and proudly display the flag as a symbol of our shared identity and national pride," MCCY said on June 27. Singaporeans are encouraged to display the national flag during the National Day celebration period between July 1 and Sept 30, it added. During this period, the rules for flying and displaying the flag are relaxed. The flag may be flown without a flagpole and does not have to be illuminated at night. The flag may be displayed at offices, buildings and residential premises. The national flag should be treated with respect and used "in an appropriate and dignified manner", and torn or worn out flags should not be displayed, MCCY said. Instead, they should be put in a sealed black trash bag before disposal, and not left visible in rubbish bins. The use of the Singapore flag and national symbols is governed by the National Symbols Act and Regulations. The full guidelines on the display and use of the flag can be found here. Singapore will celebrate its 60th birthday on Aug 9. For the first time, the NDP live show will be extended from the Padang to Marina Bay. Themed Majulah Singapura, the 2025 parade will honour the past 60 years of Singapore's nation-building journey, and call on Singaporeans to celebrate the past and build their collective future together.
Straits Times
a day ago
- General
- Straits Times
Free national flags for redemption via Shopee in tie-up with NDP organisers
Free national flags for redemption via Shopee in tie-up with NDP organisers SINGAPORE - Households here can now redeem a free national flag each on Shopee, in a partnership between the online shopping platform and the National Day Parade (NDP) organisers. The initiative, called Fly Our Flag, runs until 11.59am on July 15, or while stocks last, the Ministry of Culture, Community and Youth (MCCY) said in a release on June 27 . To redeem the flag, go to log in with Singpass and choose to have the flag delivered at a cost, or collect it from a collection point for free. 'This effort aims to make it easier for families to come together and proudly display the flag as a symbol of our shared identity and national pride,' MCCY said on June 27 . Singaporeans are encouraged to display the national flag during the National Day celebration period between July 1 and Sept 30, it added. During this period, the rules for flying and displaying the flag are relaxed. The flag may be flown without a flagpole and does not have to be illuminated at night . The flag may be displayed at offices, buildings and residential premises. The national flag should be treated with respect and used 'in an appropriate and dignified manner', and torn or worn out flags should not be displayed, MCCY said. Instead, they should be put in a sealed black trash bag before disposal, and not left visible in rubbish bins. The use of the Singapore flag and national symbols is governed by the National Symbols Act and Regulations. The full guidelines on the display and use of the flag can be found here. Singapore will celebrate its 60th birthday on Aug 9. For the first time, the NDP live show will be extended from Padang to Marina Bay. Themed Majulah Singapura, the 2025 parade will honour the past 60 years of Singapore's nation-building journey, and call on Singaporeans to celebrate the past and build their collective future together. Join ST's WhatsApp Channel and get the latest news and must-reads.
AsiaOne
4 days ago
- Business
- AsiaOne
MAS turns down ex-NTUC Income CEO's request to meet chairman Gan Kim Yong over Allianz matter, Singapore News
The Monetary Authority of Singapore (MAS) said on Monday (June 23) that it has rejected former NTUC Income chief executive Tan Suee Chieh's request to meet chairman Gan Kim Yong or a senior MAS representative over the proposed transaction by German insurer Allianz to buy a controlling stake in NTUC Income. This was in response to Tan's letter to MAS on Jun 9, seeking a response to his April 28 open letter, as well as to request for such a meeting. Responding to Tan's three open letters between August 2024 and April 2025 on the Allianz-Income matter, MAS highlighted that the proposed transaction and amendments to the Insurance Act had been extensively debated in Parliament. "Nevertheless, if Mr Tan has further feedback or information to share with us, we will duly consider them," said the authority in a statement released a day ahead of Income's annual general meeting. MAS also said that it had shared Allianz' capital reduction plan with the Ministry of Community, Culture and Youth (MCCY) after having received the insurer's preliminary business plan for Income in mid-July 2024. This was while the proposed transaction was still subject to regulatory approval. "After the Aug 6, 2024, Parliament sitting, while MAS did not have prudential grounds for concern about the transaction, we noted that the planned capital reduction could be relevant to MCCY's considerations, taking into account Income's prior status as a co-operative society," said MAS, adding that it was then that MAS surfaced this to the MAS board and shared it with MCCY. "Before then, MAS had not been aware of the representations that Income had made to MCCY when it was allowed to carry over S$2 billion in surplus to the new corporatised entity," it noted. After MAS shared the information with MCCY, the government moved to amend the Insurance Act and stop the transaction. MAS noted that MCCY found it "difficult to reconcile the proposed substantial capital reduction, soon after the transaction is completed, with Income's representations to MCCY during the corporatisation exercise that it was aiming to build up capital resources and enhance its financial strength". It further noted that MCCY was also "not satisfied that Income will be able to continue fulfilling its social mission after the proposed transaction". Parliament passed the Insurance (Amendment) Bill under a Certificate of Urgency on Oct 16, 2024. On Dec 16, Allianz withdrew its pre-conditional voluntary general offer. [[nid:708825]] This article was first published in The Business Times . Permission required for reproduction.
Business Times
5 days ago
- Business
- Business Times
MAS turns down ex-NTUC Income CEO's request to meet chairman Gan Kim Yong over Allianz matter
[SINGAPORE] The Monetary Authority of Singapore (MAS) said on Monday (Jun 23) that it has rejected former NTUC Income chief executive Tan Suee Chieh's request to meet chairman Gan Kim Yong or a senior MAS representative over the proposed transaction by German insurer Allianz to buy a controlling stake in NTUC Income. This was in response to Tan's letter to MAS on Jun 9, seeking a response to his Apr 28 open letter, as well as to request for such a meeting. Responding to Tan's three open letters between August 2024 and April 2025 on the Allianz-Income matter, MAS highlighted that the proposed transaction and amendments to the Insurance Act had been extensively debated in Parliament. 'Nevertheless, if Mr Tan has further feedback or information to share with us, we will duly consider them,' said the authority in a statement released a day ahead of Income's annual general meeting. MAS also said that it had shared Allianz' capital reduction plan with the Ministry of Community, Culture and Youth (MCCY) after having received the insurer's preliminary business plan for Income in mid-July 2024. This was while the proposed transaction was still subject to regulatory approval. 'After the Aug 6, 2024, Parliament sitting, while MAS did not have prudential grounds for concern about the transaction, we noted that the planned capital reduction could be relevant to MCCY's considerations, taking into account Income's prior status as a co-operative society,' said MAS, adding that it was then that MAS surfaced this to the MAS board and shared it with MCCY. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Before then, MAS had not been aware of the representations that Income had made to MCCY when it was allowed to carry over S$2 billion in surplus to the new corporatised entity,' it noted. After MAS shared the information with MCCY, the government moved to amend the Insurance Act and stop the transaction. MAS noted that MCCY found it 'difficult to reconcile the proposed substantial capital reduction, soon after the transaction is completed, with Income's representations to MCCY during the corporatisation exercise that it was aiming to build up capital resources and enhance its financial strength'. It further noted that MCCY was also 'not satisfied that Income will be able to continue fulfilling its social mission after the proposed transaction'. Parliament passed the Insurance (Amendment) Bill under a Certificate of Urgency on Oct 16, 2024. On Dec 16, Allianz withdrew its pre-conditional voluntary general offer.
Business Times
5 days ago
- Business
- Business Times
MAS denies ex-NTUC Income CEO's request to meet chairman Gan Kim Yong over Allianz matter
[SINGAPORE] The Monetary Authority of Singapore (MAS) said on Monday (Jun 23) that it has rejected former NTUC Income chief executive Tan Suee Chieh's request to meet chairman Gan Kim Yong or a senior MAS representative over the proposed transaction by German insurer Allianz to buy a controlling stake in NTUC Income. This was in response to Tan's letter to MAS on Jun 9, seeking a response to his Apr 28 open letter, as well as to request for such a meeting. Responding to Tan's three open letters between August 2024 and April 2025 on the Allianz-Income matter, MAS highlighted that the proposed transaction and amendments to the Insurance Act had been extensively debated in Parliament. 'Nevertheless, if Mr Tan has further feedback or information to share with us, we will duly consider them,' said the authority in a statement released a day ahead of Income's annual general meeting. MAS also said that it had shared Allianz' capital reduction plan with the Ministry of Community, Culture and Youth (MCCY) after having received the insurer's preliminary business plan for Income in mid-July 2024. This was while the proposed transaction was still subject to regulatory approval. 'After the Aug 6, 2024, Parliament sitting, while MAS did not have prudential grounds for concern about the transaction, we noted that the planned capital reduction could be relevant to MCCY's considerations, taking into account Income's prior status as a co-operative society,' said MAS, adding that it was then that MAS surfaced this to the MAS board and shared it with MCCY. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Before then, MAS had not been aware of the representations that Income had made to MCCY when it was allowed to carry over S$2 billion in surplus to the new corporatised entity,' it noted. After MAS shared the information with MCCY, the government moved to amend the Insurance Act and stop the transaction. MAS noted that MCCY found it 'difficult to reconcile the proposed substantial capital reduction, soon after the transaction is completed, with Income's representations to MCCY during the corporatisation exercise that it was aiming to build up capital resources and enhance its financial strength'. It further noted that MCCY was also 'not satisfied that Income will be able to continue fulfilling its social mission after the proposed transaction'. Parliament passed the Insurance (Amendment) Bill under a Certificate of Urgency on Oct 16, 2024. On Dec 16, Allianz withdrew its pre-conditional voluntary general offer.
