Cuscaden Scheme acquires MAS, IMDA regulatory nod

This moves the consortium closer to the takeover of SPH.

Cuscaden Peak Pte. Ltd. revealed that it has acquired regulatory approvals from both the Monetary Authority of Singapore and the Info-Communications Media Development Authority.

Cuscadean said that the regulatory approvals mean the following:

Approval from the Monetary Authority of Singapore necessary for a change in control of the SPH REIT Manager and the acquisition of effective control of KBS US PrimeProperty Management Pte. Ltd. arising from the Cuscaden Scheme; and
Approval from the Info-Communications Media Development Authority in connection with the acquisition by Cuscaden of an indirect interest in M1 Limited pursuant to the Cuscaden Scheme.

Clearance from the Foreign Investment Review Board under the Australian Foreign Acquisitions and Takeovers Act 1975 remains outstanding as of the announcement.

“The approvals received take us closer to fulfilling all conditions to the Cuscaden Scheme. With these regulatory approvals received, Cuscaden only has FIRB approval outstanding in respect of the regulatory approvals to be obtained by it, and we remain on track for an indicative transaction completion by February 2022. We will continue to work expeditiously with SPH towards advancing the Cuscaden Scheme for its shareholders to vote on,” said Christopher Limn, Group Executive Director of Hotel Properties Limited and spokesperson for Cuscaden.

Follow the link s for more news on

Cuscaden

Infocomm Media Development Authority

Monetary Authority of Singapore

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia