MAS IMPOSES COMPOSITION AMOUNT OF $5,000 ON MR SHAN BAIYU FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME

                


1       On 14 July 2011, Mr Shan Baiyu ["Mr Shan"] paid a composition amount of $5,000 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of changes in their shareholdings.

2       Mr Shan was late in notifying SGX-ST of the change in his deemed shareholding in Asia Power Corporation Ltd ["Asia Power"] which took place on 29 May 2010.  Mr Shan was also late in notifying Asia Power of the above-mentioned change.  As a result, Asia Power was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.


Substantial shareholders are required to notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.

Last Modified on 26/11/2016