9 companies, including ST Logistics and Shell's local unit, designated as critical to Singapore's economy, increasing government oversight over takeovers and requiring approval for significant stakes.
Singapore has designated nine companies, including ST Logistics and Shell's local unit, as critical to the economy under the Significant Investments Review Act 2024. This designation will increase government oversight on any takeover moves involving these firms, requiring buyers to gain approval before holding significant stakes, such as 25% or 50%. The list also includes entities like ExxonMobil Asia Pacific, Sembcorp Specialised Construction, and Singapore Refining Company, enhancing Singapore's position as a trusted and reliable business hub.
May 31, 2024
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