As we round up the first quarter of 2024, we summarise below the key developments in the antitrust and investment screening landscape in Singapore since the start of the year:
(a) The Competition and Consumer Commission of Singapore (CCCS) issued, for the first time, pre-emptive Interim Measures Directions in response to reports of a potential acquisition by Grab Holdings Inc. of the Foodpanda business;
(b) A protracted review was undertaken by the CCCS since November 2020 of a series of related transactions in the aviation industry which was finally cleared with commitments in March 2024;
(c) The passage and coming into force of the Significant Investments Review Act, which is aimed at ensuring the continuity of entities critical to Singapore’s national interests, and the introduction of the Transport Sector (Critical Firms) Bill, which is intended to introduce similar requirements to critical firms in the air, land and sea transport;
(d) The CCCS’ issuance of new guidelines on business collaborations pursuing environmental sustainability objectives; and
(e) The introduction of new leadership at the CCCS, with Mr Alvin Koh appointed as the new Chief Executive and Commission Member.
Each development is expanded upon in this update.
If you would like information and/or assistance on the above or any other area of law, you may wish to contact the partner at WongPartnership whom you normally work with or any of the following Partners:
Ameera ASHRAF
Head – Antitrust & Competition
d +65 6416 8113
e ameera.ashraf@wongpartnership.com
Click here to view Ameera’s CV.
CHAN Jia Hui
Partner – Antitrust & Competition
d +65 6416 2794
e jiahui.chan@wongpartnership.com
Click here to view Jia Hui’s CV.
Clarissa KOH
Partner – Antitrust & Competition
d +65 6517 8685
e clarissa.koh@wongpartnership.com
Click here to view Clarissa's CV.