NTUC Income AR 2019

In the opinion of the directors, (a) other than the matter described in the ‘Basis for qualified opinion’ in the independent auditors’ report, the consolidated financial statements of the Group as set out on pages 42 to 150 are drawn up so as to give a true and fair view of the financial position of the Group as at 31 December 2019 and the financial performance, changes in equity and cash flows of the Group for the financial year then ended in accordance with the provisions of the Co-operative Societies Act, Chapter 62 (“the Act”) and Financial Reporting Standards in Singapore (“FRSs”); (b) at the date of this statement, there are reasonable grounds to believe that the Co-operative will be able to pay its debts as and when they fall due; and (c) the receipt, expenditure, investment of moneys and the acquisition and disposal of assets by the Co-operative during the year have been made in accordance with the By-laws of the Co-operative, the provisions of the Act and the Rules (made under section 95 of the Act); and (d) proper accounting and other records have been kept by the Co-operative. On behalf of the Board of Directors Ronald Ong Sim Hwee Cher Andrew Yeo Chairman Director Chief Executive Singapore, 27 March 2020 STATEMENT BY DIRECTORS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 32 HERE FOR SURE