Business
Singapore May Review Past Takeovers on National Security Grounds
The city-state already relies on a range of laws to monitor and manage entities in sectors such as telecommunications, banking and utilities.
The city-state already relies on a range of laws to monitor and manage entities in sectors such as telecommunications, banking and utilities.
Photographer: Lauryn Ishak/Bloomberg
By Philip Heijmans and Low De Wei
November 4, 2023 at 11:16 AM GMT+8
Singapore’s government will get powers to block takeovers of key entities, including those that act against national security interests and change ownership or control in the two years before a proposed new law comes into effect.
The proposed Significant Investments Review Bill, expected to be enacted next year, would require buyers to get approval before holdings in “designated entities” reach significant thresholds including 25% or 50%, the Ministry of Trade and Industry said Friday.
Singapore May Review Past Takeovers on National Security Grounds
The city-state already relies on a range of laws to monitor and manage entities in sectors such as telecommunications, banking and utilities.
The city-state already relies on a range of laws to monitor and manage entities in sectors such as telecommunications, banking and utilities.
Photographer: Lauryn Ishak/Bloomberg
By Philip Heijmans and Low De Wei
November 4, 2023 at 11:16 AM GMT+8
Singapore’s government will get powers to block takeovers of key entities, including those that act against national security interests and change ownership or control in the two years before a proposed new law comes into effect.
The proposed Significant Investments Review Bill, expected to be enacted next year, would require buyers to get approval before holdings in “designated entities” reach significant thresholds including 25% or 50%, the Ministry of Trade and Industry said Friday.