MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON MR TAY TENG GUAN ARTHUR FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME

                


1       On 29 June 2011, Mr Tay Teng Guan Arthur ["Mr Tay"] paid a composition amount of $2,500 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 Tay was late in notifying SGX-ST of the change in his deemed shareholdings in Achieva Limited ["Achieva"] which took place on 9 December 2009.  Mr Tay was also late in notifying Achieva of the above-mentioned change.  As a result, Achieva 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