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INVESTMENT PROPERTY IN CHINA

3 Months Ended

Sep. 30, 2011

The following table presents the Company’s investment in the property in China as of September 30, 2011. The exchange rate is based on the exchange rate as of September 30, 2011 published by the Monetary Authority of Singapore.

	Investment Date	Investment Amount			Investment Amount
		(RMB)			(U.S. Dollars)
Purchase of rental property – MaoYe	01/04/2008		5,554			868
Purchase of rental property – JiaSheng	10/23/2008		7,042			1,101
Additional cost of rental property - JiaSheng	12/01/2009		209			33
Investment rental property disposed - JiaSheng	02/05/2010		(579	)		(90	)
Purchase of rental property – Jiang Huai	01/06/2010		3,600			563
Investment rental property disposed - JiaSheng	03/04/2011		(6,672	)		(1,044	)
Gross investment in rental property			9,154			1,431

Accumulated depreciation on rental property	09/30/2011		(1,266	)		(198	)

Net investment in property – China			7,888			1,233

Rental Property I

In fiscal 2008, TTCQ entered into a Memorandum Agreement with MaoYe Property Ltd. to purchase an office space in Chongqing, China, for a total cash purchase price of RMB 5,554. The Company rented this property to a third party on July 13, 2008. The term of the rental agreement was five years with a monthly rental income of RMB 39, or approximately $6 based on the average exchange rate for the three months ended September 30, 2011, for the first three years, and in the fourth year with an increase of 8% in July 2012, a monthly rental income of RMB 41, or approximately $6 based on the average exchange rate for the three months ended September 30, 2011, and another increase of 8% in July 2013.

Property purchased from Mao Ye, generated a rental income of RMB 124, or approximately $19 for the quarter ending September 30, 2011 based on the average exchange rate for the three months ended September 30, 2011 and RMB 115, or approximately $17 for the quarter ending September 30, 2010.

Rental Property II

In fiscal 2009, TTCQ entered into a Memorandum Agreement with JiaSheng to purchase four units of commercial property and two units of residential property, totaling 1,391.70 square meters in Chongqing, China, for a total purchase price of RMB 7,042. Property purchased from JiaSheng was disposed of during February 2010 and March 2011 and hence there was no rental income recorded for these properties for the quarter ending September 30, 2011. However these properties generated a rental income of RMB 348, or approximately $51 for the quarter ending September 30, 2010.

TTCQ sold four commercial properties purchased on October 23, 2008 to JiaSheng for RMB 6,860, or approximately $1,067, recording a gain on disposal of RMB 1,015, or approximately $158 after deducting sales tax and exchange difference, from the four properties which carried a cost of RMB 6,672, or approximately $1,044, and accumulated depreciation of RMB 840, or approximately $131. All payments in these sales transactions were received in full during the third quarter of fiscal 2011.

Rental Property III

In fiscal 2010, the Company entered into a Memorandum Agreement with ChongQing Jiang Huai Real Estate Development Co., Ltd. to purchase eight units of commercial property, in Chongqing, China, for a total purchase price of RMB3,600. TTCQ renewed its rental agreement for this property on January 8, 2011 and the rental agreement provided for a one year renewable term with an annual rental income of RMB 720, or approximately $112.

Property purchased from Jiang Huai, generated a rental income of RMB 180, or approximately $28 for the quarter ending September 30, 2011 based on the average exchange rate for the three months ended September 30, 2011, and RMB 180, or approximately $27 for the quarter ending September 30, 2010.

Other Properties

In fiscal 2010, the Company entered into a Memorandum Agreement with Chongqing Fu Li Real Estate Development Co. Ltd. to purchase two commercial properties totaling 311.99 square meters (“office space”), located in Jiang Bei District Chongqing. Although TTCQ currently rents its office premises from a third party, it intends to use the property as its office premises. The total purchase price committed and paid was RMB 3,678, or approximately $575 based on the exchange rate as of September 30, 2011. A down payment deposit of RMB 3,678, or approximately $575, was paid in fiscal 2010, and the related tax expense of RMB 150, or approximately $23, was paid. The construction was completed as of the date of this report and the properties are in the process of handover.

Total rental income for both the investment properties in China was $47 and $95 for the quarters ending September 30, 2011 and 2010, respectively.

Depreciation expenses for both the investment property in China were $18 and $29 for the quarters ending September 30, 2011 and 2010, respectively.