Announcements

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Legal Case Against Tiong Woon Crane Pte. Ltd.

The Board of Directors of Tiong Woon Corporation Holding Ltd (the "Company") wishes to announce that a claim has been commenced against Tiong Woon Crane Pte. Ltd. ("TWC"), a wholly-owned subsidiary of the Company, in the High Court of Singapore by a customer allegedly for breach of certain terms in an agreement entered into between TWC and the customer in relation to transportation and storage of the customer's heavy equipment and its component parts.

The claim by the customer is for the delivery up of machinery and its component parts or their equivalent value, damages, interests and costs. The customer had claimed the value of the machinery to be at equivalent cost of S$3.3 million.

TWC will be defending the claim and had entered into a Memorandum of Appearance. Mr. Sarbjit Singh of Messrs. Lim & Lim has been appointed to act for TWC. The Company will make further announcement as appropriate in due course.