MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON ISETAN MITSUKOSHI HOLDINGS LTD FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS

1     On 12 August 2009, Isetan Mitsukoshi Holdings Ltd ["IMHL"] paid a composition amount of $2,500 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of a change in shareholdings.

2     IMHL was late in notifying SGX-ST of its deemed shareholding change in Isetan (Singapore) Ltd ["ISL"] which took place on 1 April 2008. IMHL was also late in notifying ISL of its deemed shareholding change.  As a result, ISL was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

Substantial shareholders are required to 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.