Singapore

Singapore

NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2020 Akfel and I-Systems v. Turkey Akfel Commodities Pte. Ltd. and I-Systems Global B.V. v. Republic of Turkey (ICSID Case No. ARB/20/36) Netherlands - Turkey BIT (1986)

Singapore - Turkey BIT (2008)
ICSID ICSID Investment: Investments in Akfel Group, a gas and power company, through a shareholding of 100% in Akfel Holding and of 50% in Akpol and ISystems Global B.V. (I-Systems Global), a company incorporated in Holland.

Summary:
Investments in Akfel Group, a gas and power company, through a shareholding of 100% in Akfel Holding and of 50% in Akpol and ISystems Global B.V. (I-Systems Global), a company incorporated in Holland. Pending Türkiye Netherlands

Singapore
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Garibaldi, O. M. - Claimant

Stern, B. - Respondent

Reinisch, A. - President
Data not available Data not available Data not available Pending None None None None None None None
2 2020 AsiaPhos v. China AsiaPhos Limited v. People’s Republic of China China - Singapore BIT (1985) UNCITRAL Data not available Investment: Investments in three phosphate mines in the Sichuan province.

Summary: Claims arising out of the Government’s alleged expropriation of the claimant’s three phosphate mines in the Sichuan province, including through government directives to vacate and cease operations at two mining operations and the non-renewal of mining and exploration licences at another.
Investments in three phosphate mines in the Sichuan province. Pending China Singapore Primary: B - Mining and quarrying 8 - Other mining and quarrying Data not available Data not available Data not available Data not available Pending None None None None None None None
3 2020 Goh v. China Goh Chin Soon v. People's Republic of China (formerly ICSID Case No. ARB/20/34) (PCA Case No. 2021-30) China - Singapore BIT (1985) UNCITRAL PCA Investment: Investments in several real estate development projects in Qingdao, a city in eastern China.

Summary: Claims arising out of the Government’s alleged seizure of the claimant’s assets and interests in real estate development projects in the city of Qingdao.
Investments in several real estate development projects in Qingdao, a city in eastern China. Pending China Singapore Tertiary: L - Real estate activities 68 - Real estate activities Reed, L. - President

Moser, M. J. - Claimant

Douglas, Z. - Respondent
Data not available Data not available Direct expropriation Pending None None None None None None None
4 2019 Kenon and IC Power v. Peru Kenon Holdings Ltd and IC Power Ltd v. Republic of Peru (ICSID Case No. ARB/19/19) Peru - Singapore FTA (2008) ICSID ICSID Investment: Shareholding in Kallpa Generación S.A. and Samay I S.A., local electric energy companies.

Summary: Claims arising out of a regulatory agency’s withdrawal of an exclusive right the local subsidiary Kallpa had been awarded through a bid procedure in 2016 to provide a service related to the frequency of the power generation system, as well as changes to the calculation of transmission line tolls for energy generators, allegedly benefitting state-owned electricity companies to the claimants’ detriment.
Shareholding in Kallpa Generación S.A. and Samay I S.A., local electric energy companies. Pending Peru Singapore Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Radicati di Brozolo, L. - President

Haigh, D. - Claimant

Siqueiros, E. - Respondent
150.00 mln USD Data not available Data not available Pending None None None None None None None
5 2018 PACC v. Mexico PACC Offshore Services Holdings Ltd. v. United Mexican States (ICSID Case No. UNCT/18/5) Mexico - Singapore BIT (2009) UNCITRAL ICSID Investment: Investments in a vessel charter business in Mexico.

Summary: Claims arising out of certain actions by Mexican authorities that prevented the claimant and its subsidiaries from continuing to charter vessels to Pemex, Mexico’s national oil and gas company, thereby allegedly destroying the claimant’s investment.
Investments in a vessel charter business in Mexico. Decided in favour of investor Mexico Singapore Tertiary: N - Administrative and support service activities 77 - Rental and leasing activities Rigo Sureda, A. - President

Reisman, W. M. - Claimant

Sands, P. - Respondent
227.10 mln USD 6.70 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Most-favoured nation treatment

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 11 January 2022

Decision on Claimant’s Application for Additional Award and on the Applicable Interest Rate dated 9 May 2022 (English)

Decision on Claimant’s Application for Additional Award and on the Applicable Interest Rate dated 9 May 2022 (Spanish)
Concurring and Dissenting Opinion of W. Michael Reisman

Concurring and Dissenting Opinion of W. Michael Reisman (English)

Concurring and Dissenting Opinion of W. Michael Reisman (Spanish)
None None None None None
6 2017 Surfeit v. China (Taiwan) Surfeit Harvest Investment Holding Pte Ltd v. Republic of China (Taiwan) Singapore - Taiwan Province of China EPA (2013) UNCITRAL PCA Investment:

Summary:
Pending China Singapore Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
7 2016 Oleovest v. Indonesia Oleovest Pte. Ltd. v. Republic of Indonesia (ICSID Case No. ARB/16/26) Indonesia - Singapore BIT (2005) ICSID ICSID Investment:

Summary:
Discontinued Indonesia Singapore Secondary: C - Manufacturing 10 - Manufacture of food products Alexandrov, S. A. - President

Smith, G. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceedings pursuant to ICSID Arbitration Rule 44 dated 19 March 2018 Dissenting Opinion by Gordon Smith None None None None None
8 2004 Cemex v. Indonesia Cemex Asia Holdings Ltd v. Indonesia (ICSID Case No. ARB/04/3) ASEAN Investment Agreement (1987) ICSID ICSID Investment: Minority shareholding in a State-owned Indonesian cement firm.

Summary: Claims arising out of the non-execution of claimant's contractual option to buy a majority shareholding in the State-owned entity in which it had invested, due to alleged local opposition by workers and politicians to a foreign takeover of the company.
Minority shareholding in a State-owned Indonesian cement firm. Settled Indonesia Singapore Secondary: C - Manufacturing 23 - Manufacture of other non-metallic mineral products Fortier, L. Y. - President

von Mehren, R. - Claimant

Stern, B. - Respondent
400.00 mln USD 337.00 mln USD Data not available Not applicable - settled or discontinued before decision on liability Award embodying the parties' settlement agreement dated 23 February 2007, pursuant to Arbitration Rule 43(2) None None None None None None
9 2000 Yaung Chi v. Myanmar Yaung Chi OO Trading Pte Ltd. v. Government of the Union of Myanmar (ASEAN I.D. Case No. ARB/01/1) ASEAN Investment Agreement (1987) ICSID AF ICSID Investment: Shareholding in a joint venture company constituted with a State-owned corporation to operate a brewery and market its product.

Summary: Claims arising out of the alleged seizure of the investor's property by armed agents of the Government and the freezing of certain bank accounts of the investor.
Shareholding in a joint venture company constituted with a State-owned corporation to operate a brewery and market its product. Decided in favour of State Myanmar Singapore Secondary: C - Manufacturing 11 - Manufacture of beverages Sucharitkul, S. - President

Crawford, J. R. - Unknown

Delon, F. - Unknown
6.30 mln USD Data not available Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause
None - jurisdiction declined Award dated 31 March 2003 None None None None None None