CCI by its order dated May 21, 2015 approved the combinations of Singbridge Pte. Ltd. (Singbridge) and Surbana International Consultants Holdings Pte. Ltd. (Surbana) of Temasek Holdings (Private) Limited (Temasek) and,Ascendas Pte. Ltd (Ascendas) and Jurong International Holdings Pte Ltd (JIH) of JTC Corporation (JTC). Through the combination, Singbridge, Surbana, Ascendas and JIH would become indirect subsidiaries of TJ Holdings III whichwould be under joint control of Temasek and JTC. The combination falls under Section 5(a) of the Act. The entities were required to remove defects from the agreement in pursuance of Regulation 14 of Combination Regulations. It was observed that the parties to the combination are primarily engaged in the businesses of providing real estate development and related services and building / project consultancy services. In the real estate development and related services market, the parties to the combination have an insignificant market share not only in India but also in the various cities where they are present. Besides, there are several other major players such as DLF, Raheja and Larsen & Toubro etc. providing similar services in different cities of India. Similarly, it was observed that in building and project consultancy services, the parties to the combination have insignificant market share and several major players such as AECOM India, RSP Design Consultants, CPG Consultants, Meinhardt India etc. are present in India, apart from the parties. Considering the facts and information provided, CCI concluded that the combination will not amount to appreciable adverse effect on the competition and thus, approved the combination under Section 31(1).