MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON ROYAL INSTITUTION PTE LTD FOR FAILING TO NOTIFY THE SECURITIES EXCHANGE TRADING LIMITED [“SGX-ST”] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS

1  On 1 Mar 2007, Royal Institution Pte Ltd [“RIPL”] paid a composition amount of S$2,500 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  On 17 Jun 2004, RIPL failed to notify SGX-ST of its deemed shareholding interest in Noel Gifts International Limited [“Noel”] held through Royal Union Corporation (China) Pte Ltd. RIPL also failed to notify Noel of its deemed shareholding interest. 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.