MTQ Corporation Limited

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

BackDec 02, 2008
Part I
1. Date of notice to issuer 01/12/2008
2. Name of Substantial Shareholder Ong Holdings (Private) Limited
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 Interest 01/12/2008
2. The change in the percentage level From 5.96 % To 6.13 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Change in percentage level of Singapore Warehouse Company (Private) Ltd.'s substantial shareholding interest in MTQ as a result of a series of share buy-backs by MTQ.

By virtue of Section 7 of the Companies Act (Cap. 50), Hwa Hong Corporation Limited ("HHCL") is deemed to have an interest in the shares of MTQ held by Singapore Warehouse Company (Private) Ltd. ("SWC") and/or in which SWC has an interest. SWC is a wholly owned subsidiary of HHCL.

By virtue of Section 7 of the Companies Act (Cap. 50), Ong Holdings (Private) Limited ("OHPL") is deemed to have an interest in the shares of MTQ in which HHCL has an interest as aforesaid by reason of OHPL holding not less than 20% of the voting shares in HHCL.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a series of share buyback conducted by the Company.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 5,500,000
As a percentage of issued share capital 0 % 5.96 %
No. of shares held after the change 0 5,500,000
As a percentage of issued share capital 0 % 6.13 %
Footnotes The percentage of issued share capital before change is based on 92,353,117 issued ordinary shares excluding treasury shares in the capital of MTQ as at 16 June 2008.

The percentage of issued share capital after change is based on 89,761,117 issued ordinary shares excluding treasury shares in the capital of MTQ as at 28 November 2008.