MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON MS ANG BEE YAN FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGE IN SUBSTANTIAL SHAREHOLDINGS

1       On 20 January 2010, Ms Ang Bee Yan ["Ms Ang"] 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       Ms Ang failed to notify SGX-ST of her direct shareholding change in Powermatic Data Systems Ltd ["PDSL"] which took place on 23 March 2009.  Ms Ang was also late in notifying PDSL of her direct shareholding change.  As a result, PDSL 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.