MAS Imposes Composition Amount of $2,500 on Mr Lim Keng Hock  Jonathan for failing to Notify the Singapore Exchange Securities Trading Limited ["SGX-ST"] of Changes in Substantial Shareholdings Within Stipulated Timeframe

1     On 14 November 2011, Mr Lim Keng Hock Jonathan ["Mr Lim"] 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 Lim failed to notify SGX-ST of the change in his direct shareholdings in Adventus Holdings Limited ["Adventus"] which took place on 1 October 2010.  Mr Lim was also late in notifying Adventus of the above-mentioned change.  As a result, Adventus was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

3     Mr Lim was previously warned by the Authority on 20 May 2010 for a contravention of section 137 of the SFA.

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