Impact of The Transport Sector (Critical Firms) Act 2024 on Mergers and Acquisitions Within the Singaporean Transport Industry
In a significant move to enhance the resilience of essential transport services and protect against undue influence, the Transport Sector (Critical Firms) Act was passed in Singapore's Parliament on 1st April 2025. This legislation expands the list of sectors in Singapore with sectoral legislation imposing ownership and control restrictions.
The Act establishes a designated entities regime for entities across the air, land, and sea sectors. As of September 2025, there are no publicly available details about specific companies designated as such under the law. However, a search reveals regulatory updates, standards for electric harbour crafts, competition law, cybersecurity, and sanctions, but no list of designated entities by name.
The Civil Aviation Authority of Singapore, Land Transport Authority of Singapore, and Maritime and Port Authority of Singapore are the relevant authorities empowered to designate entities as "designated operating entities" or "designated equity interest holders" under their respective sectoral legislation.
In the sea sector, PSA Corporation Limited, PSA Marine (Pte) Ltd, and Jurong Port Pte Ltd have been designated as operating entities. In the air sector, Changi Airport Group (Singapore) Pte. Ltd., Singapore Airlines Limited, Scoot Pte. Ltd., SATS Ltd, Sats Airport Services Pte Ltd, Sats Asia-Pacific Star Pte. Ltd., Sats Catering Ptd Ltd, SIA Engineering Company Limited and Changi Airport Fuel Hydrant Installation Pte. Ltd. have been designated as operating entities. In the land sector, SBS Transit Ltd, SMRT Buses Ltd., SBS Transit Rail Pte. Ltd., SMRT TEL Pte. Ltd. and SMRT Trains Ltd. have been designated as operating entities.
SMRT Corporation Ltd and PSA International Pte Ltd, on the other hand, are designated equity interest holders in respect of their equity interests in SMRT TEL Pte. Ltd. and SMRT Trains Ltd., and PSA Corporation Limited respectively.
The Act also introduces a framework for monitoring and regulating ownership changes in Designated Entities through amendments to the statutes administered by the authorities. This framework aims to ensure the continued resilience and protection of essential transport services in Singapore. As more details about the designated entities become available, the public will be kept informed.
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