SINGAPORE: The parties concerned in the cases of the acquisition of The Clementi Mall and the potential merger between CapitaLand and Mapletree have not formally notified the Competition and Consumer Commission of Singapore (CCS) for a merger assessment.
The competition and consumer regulator will continue to monitor both developments, said Minister for Trade and Industry Gan Kim Yong in a written parliamentary response to an oral question on Monday.
In December 2025, The Business Times reported that an entity linked to Zhao Zhichao of The Elegant Group is believed to have signed a deal to buy The Clementi Mall for S$809mil from Cuscaden Peak Investments. The Elegant Group’s portfolio also includes nearby Grantral Mall@Clementi.
Meanwhile, Temasek-linked property asset managers CapitaLand Investment and Mapletree Investments are mulling over a merger, which reportedly could create one of Asia’s largest real estate firms.
There were concerns over how such consolidations would affect smaller tenants in heartland malls, and whether they will be at a disadvantage during lease renewals.
Gan said that Singapore adopts a voluntary merger notification scheme, where merger parties are not required to notify CCS of their merger transactions under the Competition Act, “to balance between effective regulatory oversight and keeping compliance costs low”.
They are expected to self-assess whether transactions may lead to potential competition concerns, he added.
But merger parties can approach CCS for pre-notification discussions or seek guidance on whether their merger may be anti-competitive.
CCS has the power to step in, should information suggest that a merger may cause competition issues.
Gan noted that measures are also in place to support “fair and balanced lease negotiations between property owners and tenants”, and that Singapore’s retail scene “remains competitive and vibrant”. — The Straits Times/ANN
