News

Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackSep 16, 2009

Part I

Date of notice to issuer

16/09/2009

Name of Substantial Shareholder

ASM Asia Recovery Fund

Notice Type

Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.

Part II - Not Required

Part III

Date of change of Deemed Interest

16/09/2009

The change in the percentage level

From 45.07 % To 48.62 %

Circumstance(s) giving rise to the interest or change in interest

# Others

ASM Asia Recovery Fund ("ASMARF") is the beneficial holder of more than 50% of the issued share capital of ASM Asia Recovery (Master) Fund ("ASMARMF"). ASMARMF is the beneficial holder of more than 20% of the issued share capital of ASM Ventures Limited ("ASMVL").

On 11 Sep 2009, 4,495,315 Series A warrants of TIH held in trust by ASMVL as nominee for ASMARMF were exercised and ordinary shares of TIH are allotted on 16 Sep 2009. As a result, 4,495,315 shares of TIH are held in trust by ASMVL as nominee for ASMARMF.

In addition, 4,274,685 Series A warrants held by ASMARMF through its depository agent were exercised on 11 Sep 2009 and ordinary share are allotted on 16 Sep 2009. As a result, 20,550,877 shares of TIH are held by ASMARMF through its depository agent.

ASMVL also hold 36,601,536 shares of TIH through its depository agent.

All of the shares are held by their depository agent, HSBC (Singapore) Nominees Private Limited.

Accordingly, ASMARF has a deemed interest in 61,647,728 shares.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

The change is the result of a single transaction - the exercise of Series A warrants.

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	52,877,728
As a percentage of issued share capital	0 %	45.07 %
No. of shares held after the change	0	61,647,728
As a percentage of issued share capital	0 %	48.62 %
Footnotes	(i) Before the Change - the percentage of the total issued shares is calculated based on 117,333,338 Ordinary Shares as at 12 May 2009. (ii) After the Change - the percentage of the total issued shares is calculated based on 126,787,358 Ordinary Shares as at 16 September 2009.