MAS SUSPENDS THE CAPITAL MARKETS SERVICES REPRESENTATIVE'S LICENCE OF MR LOO CHANG YUAN @ LOO HOCK GUAN

1 On 27 June 2008, MAS suspended the Capital Markets Services ["CMS"] Representative's licence of Mr Loo Chang Yuan @ Loo Hock Guan ["Mr Loo"] on the ground that he had engaged in conduct incompatible with a fit and proper person.

2 Mr  Loo, a CMS Representative of Kim Eng Securities Pte Ltd, was on 21 February 2008 found by the Singapore Exchange Securities Trading Limited's ["SGX-ST"] Disciplinary Committee ["DC"] to have contravened SGX-ST rule 13.8.1(2) in that he had engaged in acts which were likely to lead to a false market in respect of the shares of Nobel Design Holdings Limited between 1 January 2005 and 30 June 2006. Mr Loo was fined $15,000 and suspended for 3 months by SGX-ST's DC with effect from 12 June 2008. MAS took into consideration the disciplinary actions taken by SGX-ST's DC and suspended Mr Loo's CMS Representative's licence for the same period, i.e. up to 11 September 2008.

All licensed persons must satisfy the fit and proper criteria at all times. MAS expects licensed persons to conduct their activities with integrity and to comply with market conduct rules and regulations, as well as other requirements under the law. MAS may take into consideration disciplinary actions taken by a market operator or other regulatory authorities in assessing whether a person is fit and proper for the purpose of deciding whether to grant, suspend or revoke a CMS Representative's licence.