Singapore Designates ST Logistics, Shell Among Critical Entities
- Shell earlier agreed to sell its Singapore assets to a JV
- Classification will heighten government oversight on takeovers
Singapore designated nine companies, including ST Logistics Pte. and Shell Plc’s local unit, as critical to the economy, a classification that will heighten government oversight on any takeover moves involving these firms.
The designation under the Significant Investments Review Act 2024 will require buyers to get approval before holdings in such designated entities reach significant thresholds including 25% or 50%, according to a posting on the Government Gazette on Friday.