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

1  On 2 Mar 2007, Royal Union Corporation (China) Pte Ltd [“RUC”] 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 22 Mar and 2 Apr 2004, RUC failed to notify SGX-ST of its direct shareholding changes in Noel Gifts International Limited [“Noel”]. RUC also failed to notify Noel of its 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.