S'pore units of Shell, ExxonMobil among 9 firms critical to national security under new law

Singapore issued a list of nine companies that will need to seek government approval for changes in their ownership or leadership, among other things, as they are deemed critical to national security interests.

- Ovais Subhani

The list of entities designated under the newly legislated Significant Investments Review Act (Sira) 2024 include the Singapore-based subsidiaries of global oil giants ExxonMobil and Shell.

The Singapore Refining Company, a joint venture between Singapore Petroleum Company and Chevron, is also included.

Other companies that made the list are Sembcorp Specialised Construction, a wholly owned subsidiary of Sembcorp Industries, and defence and supply chain solutions company ST Logistics.

ST Engineering Marine, ST Engineering Land Systems, ST Engineering Defence Aviation Services, ST Engineering Digital Systems all subsidiaries of ST Engineering rounded off the first group of entities to be designated under the law.