New law subjects 17 Singapore transport firms to greater government scrutiny

Singapore has designated 17 transport companies as critical firms subject to greater regulatory scrutiny under a new law effective on Tuesday, which authorities have said aims to guard against extreme scenarios involving "malicious actors".<br/>The Transport Sector (Critical Firms) Act would give the government tighter control over major Singaporean companies in the air, land and sea transport sectors, with approval required for key leadership changes and when an entity gains control of more than 5% of a firm. The companies include Singapore-listed Singapore Airlines, ground services handling firm SATS, aircraft maintenance firm SIA Engineering Company, and bus and rail operator SBS Transit. The companies must also inform authorities of events like lawsuits and insolvency that impair their ability to provide essential services, according to the law published in the government gazette. Unlisted companies also designated as critical include Changi Airport Group, public transport operator SMRT Corporation, Jurong Port and PSA Marine. A Singapore Airlines spokesperson said the company notes its inclusion and "will be in compliance with the act".<br/>