CCCS Clears Proposed Acquisition of Global Sea Containers Limited by Typewriter Ascend Ltd

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1.            The Competition and Consumer Commission of Singapore (“CCCS”) has cleared the proposed acquisition of Global Sea Containers Limited (“Seaco”) by Typewriter Ascend Ltd (“TAL”) (collectively, the “Parties”) (the “Proposed Transaction”). ^[1]

2.            CCCS has assessed that the Proposed Transaction, if carried into effect, will not infringe the section 54 prohibition of the Competition Act 2004 (the “Act”), which prohibits mergers that may substantially lessen competition within any market in Singapore.

Background

3.            On 16 July 2025, CCCS commenced its review of the Parties’ application for a decision on whether the Proposed Transaction would result in a merger that may substantially lessen competition. CCCS conducted a public consultation from 16 July 2025 to 30 July 2025 and sought voluntary feedback from various stakeholders, including competitors and customers of the Parties. Respondents generally did not raise concerns.

CCCS’s Assessment

4.            The Parties overlap in the supply (including sale and lease) of intermodal containers, including dry box containers, refrigerated shipping containers, and dry freight special containers, in Singapore.

5.            Following CCCS’s assessment of the Parties’ submissions and third party feedback, CCCS has concluded that the Proposed Transaction is unlikely to substantially lessen competition in Singapore in relation to the supply of intermodal containers. The market would remain competitive in view of the following:

a.    The Parties are not each other’s closest competitor and there remain many other competitors post-Transaction;

b.    There are many alternative suppliers of intermodal containers, and customers can switch between these suppliers easily;

c.    Low barriers to entry and expansion in the supply of intermodal containers to customers;

d.    The merged entity may be able to better compete with larger suppliers of intermodal containers; and

e.    Customers are likely to have bargaining power.

6.            Further information on the notification and CCCS’s Grounds of Decision will be made available in due course on CCCS’s Public Register.

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About The Competition and Consumer Commission of Singapore

The Competition and Consumer Commission of Singapore (“CCCS”) is a statutory board of the Ministry of Trade and Industry. Our mission is to make markets work well to create opportunities and choices for businesses and consumers in Singapore.

CCCS administers and enforces the Competition Act 2004 and the Consumer Protection (Fair Trading) Act 2003, to guard against anti-competitive activities and unfair trade practices. Additionally, CCCS ensures that businesses observe fair trade measurement practices by administering the Weights and Measures Act 1975, and ensures the supply of safe consumer goods by enforcing and implementing the Consumer Protection (Trade Descriptions and Safety Requirements) Act 1975 and its associated Regulations.

For more information, please visit www.cccs.gov.sg.

^[1] The Proposed Transaction will be executed through TAL’s purchase of Seaco’s shares.