TAN CHONG MOTOR HOLDINGS BERHAD
Annual Report 2014
136
NOTES TO THE FINANCIAL STATEMENTS
38. Subsequent event
On 14 February 2015, the Group received a Certificate of Investment dated 13 February 2015 (“Investment Certificate”)
from Bac Ninh Province People’s Committee, Vietnam confirming the registration of the establishment of a wholly-owned
subsidiary named TC Services Vietnam Co., Ltd. for the purposes of retail distribution of various kinds of automobiles,
provision of automotive maintenance, repair and spare parts services and the importation of automotive spare parts and
accessories (“Project”). The Project is located in VSIP Bac Ninh Township and Service Complex, Phu Chan Commune,
Tu Son Town, Bac Ninh Province near Hanoi.
The total investment capital for the Project is USD10.0 million and will be funded via internally generated funds.
