We are observing continued Competition and Consumer Commission of Singapore (“CCCS”) merger review activity in H1 2021. From January to July 2021, CCCS has reviewed seven notified mergers covering a broad range of industries from advisory services, technology, financial services, semiconductors manufacturing, marine equipment to airlines.
CCCS proceeded to a Phase 2 review for one transaction, and concluded another Phase 2 review on the basis of commitments. This demonstrates a continuing trend towards stricter gatekeeping by CCCS for mergers, which is expected to continue during the Covid-19 environment and beyond.
Apart from merger assessments, CCCS is also reviewing cooperation agreements in the aviation industry, and has concluded an investigation related to consumer protection which concerned false claims and pressure sales tactics. On the policy front, there continues to be a focus on measures to enhance competition and efficiency in markets, with the Organisation for Economic Co-operation and Development (OECD) issuing two reports in June 2021 on the logistics sector in Singapore and small-package delivery services in Singapore.
Please click here for more on the antitrust developments in Singapore in H1 2021.