MAS IMPOSES COMPOSITION AMOUNT OF $5,000.00 ON ENERGY RESOURCE INVESTMENT PTE LTD FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS

1       On 25 November 2009, Energy Resource Investment Pte Ltd ["ERI"] paid a composition amount of $5,000.00 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       ERI was late in notifying SGX-ST of its deemed shareholding change in Manhattan Resource Limited ["MRL"] which took place on 24 April 2009. ERI was also late in notifying MRL of its deemed shareholding change.  As a result, MRL 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.