Significant Investments Review (Exemption — Exxon Mobil Asia Pacific Pte. Ltd.) Order 2024

This Order is the Significant Investments Review (Exemption — ExxonMobil Asia Pacific Pte. Ltd.) Order 2024 and comes into operation on 31 May 2024.

In this Order —[Deleted by S 586/2026 wef 08/09/2026]

In this Order, if —

an entity (X) holds (including by one or more applications of this paragraph) A% of the total equity interests in another entity (Y); and

Y holds B% of the total equity interests in another entity (Z),then X is taken to hold A% × B% of the total equity interests in Z.

In this Order, if —

X controls (including by one or more applications of this paragraph) C% of the voting power in Y; and

Y controls D% of the voting power in Z,then X is taken to control C% × D% of the voting power in Z.

An entity that becomes a Level A controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) is exempt from the requirement under section 18(1) of the Act to give notice of that fact, if the conditions in sub‑paragraph (2) are satisfied.

For the purposes of sub‑paragraph (1), the conditions are that, at the time the entity becomes a Level A controller —

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.; and

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, the entity becoming a Level A controller.

An entity that becomes a Level A controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) is exempt from the requirement under section 18(1) of the Act to give notice of that fact, if the conditions in sub‑paragraph (2) are satisfied.

For the purposes of sub‑paragraph (1), the conditions are that, at the time the entity becomes a Level A controller —

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.; and

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, the entity becoming a Level A controller.

An entity is exempt from section 19(1)(a) of the Act for becoming, without the Minister’s approval, a Level B controller, Level C controller or Level D controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) if all the conditions mentioned in sub‑paragraph (2) are satisfied.

For the purposes of sub‑paragraph (1), the conditions are that, at the time the entity becomes a Level B controller, Level C controller or Level D controller (as the case may be) —

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.;

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be); and

the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be) is not subject to any law in any jurisdiction (including any law relating to export control or control of production) that prohibits or restricts the manufacture or production of critical fuel products in Singapore.

An entity is exempt from section 19(1)(a) of the Act for becoming, without the Minister’s approval, a Level B controller, Level C controller or Level D controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) if all the conditions mentioned in sub‑paragraph (2) are satisfied.

For the purposes of sub‑paragraph (1), the conditions are that, at the time the entity becomes a Level B controller, Level C controller or Level D controller (as the case may be) —

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.;

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be); and

the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be) is not subject to any law in any jurisdiction (including any law relating to export control or control of production) that prohibits or restricts the manufacture or production of critical fuel products in Singapore.

An entity (A) is exempt from section 19(1)(b) of the Act for ceasing, without the Minister’s approval, to be a Level Y controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) by disposing of equity interests in, or by relinquishing control of voting power in, ExxonMobil Asia Pacific Pte. Ltd. if the condition mentioned in sub‑paragraph (3) is satisfied.

An entity (A) is exempt from section 19(1)(b) of the Act for ceasing, without the Minister’s approval, to be a Level Z controller of ExxonMobil Asia Pacific Pte. Ltd. by disposing of equity interests in, or by relinquishing control of voting power in, ExxonMobil Asia Pacific Pte. Ltd. if the condition mentioned in sub‑paragraph (3) is satisfied.

For the purposes of sub‑paragraphs (1) and (2), the condition is that, at the time A ceases to be a Level Y controller or Level Z controller (as the case may be) of ExxonMobil Asia Pacific Pte. Ltd., ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.

An entity (A) is exempt from section 19(1)(b) of the Act for ceasing, without the Minister’s approval, to be a Level Y controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) by disposing of equity interests in, or by relinquishing control of voting power in, ExxonMobil Asia Pacific Pte. Ltd. if the condition mentioned in sub‑paragraph (3) is satisfied.

An entity (A) is exempt from section 19(1)(b) of the Act for ceasing, without the Minister’s approval, to be a Level Z controller of ExxonMobil Asia Pacific Pte. Ltd. by disposing of equity interests in, or by relinquishing control of voting power in, ExxonMobil Asia Pacific Pte. Ltd. if the condition mentioned in sub‑paragraph (3) is satisfied.

For the purposes of sub‑paragraphs (1) and (2), the condition is that, at the time A ceases to be a Level Y controller or Level Z controller (as the case may be) of ExxonMobil Asia Pacific Pte. Ltd., ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.

ExxonMobil Holdings Corporation is exempt from section 19(4) of the Act for any acquisition, without the Minister’s approval, as a going concern, of any part of the business or undertaking of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) that does not consist of or include any interest in any asset used in the manufacture or production in Singapore of any critical fuel product.

An entity (B) is exempt from section 19(4) of the Act for any acquisition, without the Minister’s approval, as a going concern, of any part of the business or undertaking of ExxonMobil Asia Pacific Pte. Ltd. if —

the acquisition does not consist of or include any interest in any asset used in the manufacture or production in Singapore of any critical fuel product;

at the time of the acquisition, ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.; and

at the time of the acquisition, ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, B.

To avoid doubt, ExxonMobil Asia Pacific Pte. Ltd. need not obtain the prior written approval of the Minister for an acquisition mentioned in sub‑paragraph (1) or (2).

ExxonMobil Holdings Corporation is exempt from section 19(4) of the Act for any acquisition, without the Minister’s approval, as a going concern, of any part of the business or undertaking of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) that does not consist of or include any interest in any asset used in the manufacture or production in Singapore of any critical fuel product.

An entity (B) is exempt from section 19(4) of the Act for any acquisition, without the Minister’s approval, as a going concern, of any part of the business or undertaking of ExxonMobil Asia Pacific Pte. Ltd. if —

the acquisition does not consist of or include any interest in any asset used in the manufacture or production in Singapore of any critical fuel product;

at the time of the acquisition, ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.; and

at the time of the acquisition, ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, B.

To avoid doubt, ExxonMobil Asia Pacific Pte. Ltd. need not obtain the prior written approval of the Minister for an acquisition mentioned in sub‑paragraph (1) or (2).