MAS IMPOSES A COMPOSITION AMOUNT OF $30,000 ON FRANKLIN RESOURCES, INC FOR FAILING TO NOTIFY THE SECURITIES EXCHANGE TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS

1 On 21 April 2006, Franklin Resources, Inc ["Franklin"] paid a composition amount of $30,000 for breaching section 137 of the Securities and Futures Act, which requires substantial shareholders to notify the securities exchange of a change in shareholdings. 

2 During the period 8 Oct 2002 to 17 Aug 2005, Franklin failed to notify SGX-ST on 17 separate occasions of its deemed shareholding changes in Fraser & Neave Limited, Huan Hsin Holdings Limited and Venture Corporation Limited.  Franklin also failed to notify the respective companies of its deemed shareholding changes.  As a result, these companies were unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

Substantial shareholders should 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.