14 hrs ago
Singapore Government Won’t Intervene in SIA Air India Decisions
Singapore Airlines is making decisions about its investments involving Air India.
A Singapore minister said the government will not make those decisions for the company.
He said the company should decide for itself.
However, shareholders and the public should be able to see that the company is acting responsibly.
They should also expect the company to be open about its decisions.
Before spending money, the company should carefully study the investment.
This means the government is stepping back but still expects accountability.
The statement does not say what decision Singapore Airlines will ultimately make.
Minister Shanmugam said the Singapore Government will leave Singapore Airlines to decide what it does with its investments.
He said Singapore Airlines shareholders and the broader public have a right to expect accountability and transparency.
Shanmugam said a rigorous assessment should take place before Singapore Airlines commits money.
The comments concerned Singapore Airlines’ decisions involving Air India.
The minister did not announce any government intervention in those decisions.
- Who
- Minister Shanmugam, the Singapore Government, Singapore Airlines, its shareholders, the broader public, and Air India.
- What
- The Singapore Government said it will not intervene in Singapore Airlines’ investment decisions involving Air India.
- Where
- Singapore.
- When
- Why
- The government said investment decisions should be left to Singapore Airlines, while the company is expected to assess commitments rigorously and remain accountable and transparent.
Key facts
- Government position
- The Singapore Government will leave Singapore Airlines to decide what it does with its investments.
- Minister quoted
- Minister Shanmugam.
- Companies involved
- Singapore Airlines and Air India.
- Shareholder expectation
- Singapore Airlines shareholders have a right to expect accountability and transparency.
- Public expectation
- The broader public also has a right to expect accountability and transparency.
- Investment review
- A rigorous assessment should take place before money is committed.
Quotes
K. Shanmugam
Singapore government minister commenting on Singapore Airlines’ investment decisions
“We should leave it to SIA to decide what it does with its investments. Of course, SIA shareholders, as well as the broader public, have a right to expect that SIA will be accountable and transparent. People have a right to expect that there will be a rigorous assessment before money is committed.”
timesnownews.com
Sources
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