MAS IMPOSES COMPOSITION AMOUNT OF $9,000 ON DEBORAH ANG FOR FAILING TO NOTIFY THE SECURITIES EXCHANGE TRADING LIMITED [“SGX-ST”] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS

1  On 5 Mar 2007, Ms Deborah Ang paid a composition amount of S$9,000 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 10 Mar 2003 to 23 Mar 2004, Ang failed to notify SGX-ST on ten separate occasions of her direct shareholding changes in Noel Gifts International Limited [“Noel”]. She also failed to notify Noel of her direct shareholding changes. As a result, Noel was unable to disseminate the relevant 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.