MAS IMPOSES COMPOSITION AMOUNT OF $5,000 ON MR MO ZHI GUO FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS

1       On 1 October 2009, Mr Mo Zhi Guo ["Mr Mo"] 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 Mo was late in notifying SGX-ST of his deemed shareholding changes in Sapphire Corporation Limited ["SCL"] which took place on 13 May 2009 and 8 June 2009.  Mr Mo was also late in notifying SCL of his deemed shareholding changes.  As a result, SCL 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.