Announcements

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Announcement Of Writ Of Summons

The Board of Directors of Tiong Woon Corporation Holding Ltd (the "Company") wishes to announce that SMIE Singapore Pte Ltd ("SMIE") has issued a writ of summons numbered Suit No. 3513 of 2011/D against Soon Douglas (Pte) Ltd ("SD"), a wholly-owned subsidiary of the Company, in the High Court of Singapore.

SMIE is seeking payment of at least S$48,865.62 for loss and damages it suffered as a result of SD's breach of certain terms in a contract entered into between SMIE and SD for rental of 1 unit of SMIE's Anti Collision system to SD on a monthly rental basis, and its component of claims encompassing damages to be assessed, interest, costs and any other relief as the Honourable Court deems fit. The Anti Collision system was damaged/destroyed due to an accident occurred at the work site.

The Company has submitted an insurance claim and will make further announcement as appropriate in due course.