Raj Joshua Thomas on Significant Investments Review Bill

The Significant Investments Review Bill is important in Singapore’s armour against undue influence that may be used against its national interests and will complement existing legislation to protect the country’s national security and economy, said NMP Raj Joshua Thomas. Speaking in Parliament on Tuesday (Jan 9), he sought clarification on the definitions and the consistency of definitions across statutes. He noted that the term “national security interests” is used extensively but not defined in the Bill. He stressed the need for consistency in the use of terms across statutes, saying these definitions should be clarified at the earliest opportunity to avoid ambiguity and uncertainty. He also raised the possibility of listed companies being named as designated entities, in particular defence-related Singapore-listed companies. He wanted to know how the Government will ameliorate any adverse effect on the share prices of such companies if they are announced to be on the list of designated entities to avoid undue effects on investors, in particular retail investors.