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

BackMay 14, 2009
Part I
1. Date of notice to issuer 13/05/2009
2. Name of Substantial Shareholder ASM Asia Recovery Fund
3. 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
1. Date of change of Deemed Interest 12/05/2009
2. The change in the percentage level From 42.33 % To 45.07 %
3. Circumstance(s) giving rise to the interest or change in interest Right Issue

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").

As a result of the rights issue of TIH (the "Rights Issue"), ASMARMF and ASMVL hold 16,276,192 shares and 36,601,536 shares of TIH respectively. All of the shares are held by their depository agent, HSBC (Singapore) Nominees Private Limited.

Accordingly, ASMARF has a deemed interest in 52,877,728 shares.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: Change in the percentage level is the result of a transaction.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 37,247,498
As a percentage of issued share capital 0 % 42.33 %
No. of shares held after the change 0 52,877,728
As a percentage of issued share capital 0 % 45.07 %
Footnotes (i) Before the Change - the percentage of the total issued shares is calculated based on 88,000,004 Ordinary Shares.
(ii) After the Change - the percentage of the total issued shares is calculated based on 117,333,338 Ordinary Shares.