The Competition and Consumer Commission of Singapore (CCS) has raised concerns after completing its phase 1 review of SUTL Enterprise’s proposed acquisition of Marina at Keppel Bay from Keppel Bay Pte Ltd through its subsidiary One15 Marina.
Announced in January 2026, the proposed acquisition is valued at approximately $40 million Singaporean dollars (about $30 million USD). SUTL Enterprise would acquire the property and assets of Marina at Keppel Bay and take over its operations.
Marina at Keppel Bay has 168 berths and can accommodate vessels of up to 280ft (85 metres). It also includes fuel docks, metered electricity and water supply at each berth and a vacuum sewer pump-out system. On-site facilities include washrooms, internet access and waterfront dining.
CCS noted that SUTL Enterprise and Keppel Bay may be the closest competitors to each other, based on their close proximity and similar positioning in the market.
The commission also said that the combined parties would hold a significant share of the market after the proposed acquisition, while other marinas may not offer strong alternatives or enough competition.
Following these findings, CCS stated that it “may enhance the combined operator’s ability to raise prices or reduce quality of berthing services offered at the two marinas”.
CCS also requires a more detailed examination of the effects of the proposed transaction. The parties have the option to submit commitments to address the concerns, and if no commitments are provided, the case will proceed to a phase 2 review after the relevant documents are submitted.
Under Section 54 of Singapore’s Competition Act 2004, mergers that result in, or are expected to result in, a substantial lessening of competition are prohibited.
