Singapore has introduced a new Significant Investments Review (SIR) Bill in Parliament, joining a host of countries globally to take on a more stringent approach to review investments in sectors critical to its national security.
Expected to be enacted next year, the SIR Bill, introduced earlier this month, would require both national and foreign buyers of “designated entities” to notify authorities after becoming a 5% shareholder, and to seek approval before becoming a 12%, 25% or 50% controller. However, the “designated entities” have not yet been identified.
