MAS Imposes Composition Amount of $3,250 on Ms Ting Hong Lean Marilyn 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, Ms Ting Hong Lean Marilyn ["Ms Ting"] paid a composition amount of $3,250 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     Ms Ting failed to notify SGX-ST of the changes in her deemed shareholdings in Vallianz Holdings Limited ["Vallianz"] which took place on 24 September and 27 September 2010. Ms Ting also failed to notify Vallianz of the change which took place on 24 September 2010, and was late in notifying Vallianz of the change which took place on 27 September 2010.  As a result, Vallianz was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

3     Ms Ting 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