 Wee however managed to fend off a bid for UOL from government investment company Temasek Holdings as well as maintain control of UIC, after Filipino billionaire John Gokongwei’s failed takeover attempt.In November 2006, Wee received the inaugural Credit Suisse-Ernst & Young Lifetime Achievement Award for his pioneering work in Singapore's financial industry.A newspaper report then named him the best paid local banking executive, with a remuneration of between S$9 million and S$9.25 million in 2006.