Thanks everyone for your reply, it's comforting to know that I didn't get a defective unit.
Where exactly in the bios can I adjust fan-speeds? That'd be interesting to know. Also, if it matters, the TMG IA1 comes with a variable fan control knob. It's currently set to the lowest (I turned it all the way down before mounting the fan).
And Phuronn, I kinda figured it's something to do with the fan being controlled by volts as opposed to PWM.
Cheers guys, this makes me feel much better.