Yup down. Official notice from TM.
Quote & Unquote...
We regret to inform you that we received information from TM Data Centre that AAG (Asia-America Gateway) cable system is performing emergency power maintenance and will result in traffic performance degradation to/from US, N. Asia and Europe.

Expect higher latency and packet loss for customers from those regions. The emergency maintenance window requested is from 01 August 2011 until 07 August 2011

TM Data Centre upstream is doing its best to manage traffic congestion and your kind patience and understanding is highly appreciated.