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News

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

BackDec 14, 2009

Part I

Date of notice to issuer

11/12/2009

Name of Substantial Shareholder

ASM Hudson River 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

10/12/2009

The change in the percentage level

From 26.79 % To 28.87 %

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

# Others

ASM Hudson River Fund ("ASMHRF") is the beneficial holder of more than 20% of issued shares of ASM Ventures Limited ("ASMVL").

On 1 Dec 2009, 4,733,601 Series A warrants and 5,413,601 Series B warrants of TIH held in trust by ASMVL as nominee for ASMHRF were exercised and ordinary shares of TIH are allotted on 10 Dec 2009. As a result, 10,827,202 shares of TIH are held in trust by ASMVL as nominee for ASMHRF.

In addition, 352,491 Series A warrants of TIH and 352,491 Series B warrants of TIH held by ASMHRF through its depository agent were exercised on 1 Dec 2009 and ordinary shares of TIH are allotted on 10 Dec 2009. As a result, 1,897,473 shares of TIH are held by ASMHRF through its depository agent.

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

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

Accordingly, ASMHRF has a deemed interest in 49,326,211 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.

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	38,474,027
As a percentage of issued share capital	0 %	26.79 %
No. of shares held after the change	0	49,326,211
As a percentage of issued share capital	0 %	28.87 %
Footnotes	(i) Before the change - the percentage of the total issued shares is calculated based on 143,626,148 Ordinary Shares as at 1 December 2009. (ii) After the change - the percentage of the total issued shares is calculated based on 170,840,225 Ordinary Shares as at 10 December 2009.