SINGAPORE Law and Practice Contributed by: David He, Benjamin Teo, Kinnari Sahita and Binh Vong, Gunderson Dettmer Singapore LLP
• obtain approvals from the Minister for Trade and Industry (MTI) before acquiring “control- ler” stakes in such entities; and • notify the MTI upon becoming a 5% controller of such entities. The list of designated entities, which is subject to change from time to time, was released on 31 May 2024 and updated on 21 November 2024. The list is narrowly tailored and comprises only ten corporations as of March 2025. As a result, it is unlikely to have any meaningful impact on most VC investments.
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