MAS IMPOSES COMPOSITION AMOUNT OF $5,000 ON MR ERIC KONG HONG LIM FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME

1       On 8 February 2010, Mr Eric Kong Hong Lim ["Mr Kong"] paid a composition amount of $5,000 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       Mr Kong was late in notifying SGX-ST of his deemed shareholding change in Aussino Group Limited ["Aussino"] which took place on 4 November 2009.  Mr Kong was also late in notifying Aussino of his deemed shareholding change. As a result, Aussino 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.