MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON MR TOH SOON HUAT FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS

1       On 9 September 2009, Mr Toh Soon Huat ["Mr Toh"] 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       Mr Toh was late in notifying SGX-ST of his deemed shareholding change in United Envirotech Limited ["UEL"] which took place on 15 June 2009.  Mr Toh was also late in notifying UEL of his deemed shareholding change.  As a result, UEL was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

3       Mr Toh had previously accepted an offer of composition made by the Authority on 17 September 2007 for contraventions of section 137 of the SFA.

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.