Bursa Announcements

Valuation Of Non-Current Assets

1.    INTRODUCTION

Pursuant to Paragraph 9.19(46) and Part H of Appendix 9A of the Main Market Listing Requirements, the Board of Directors of Tan Chong Motor Holdings Berhad (“TCMH” or “the Company”) wishes to announce that the Company has carried out a revaluation exercise on the Company’s and its subsidiaries’ (hereinafter referred to as “the Group”) investment properties which consist of buildings, leasehold land and freehold land situated in Malaysia (hereinafter referred to as “Properties”).

The Board had on 23 May 2025 approved the incorporation of the gain, net of deferred tax, of RM48.60 million arising from the change in the fair value of investment properties of the Group in the consolidated financial statements of TCMH for the financial year ending 31 December 2025.

2.    PURPOSE OF REVALUATION

The purpose of the valuation is to reflect the fair value of the properties in compliance with Malaysian Financial Reporting Standard (“MFRS”) 140: Investment Property.

3.    REVALUATION SURPLUS, NAME OF VALUER, DATE OF VALUATION AND VALUATION ON PROPERTY BY VALUER

The valuation of the property situated in Malaysia was conducted by LaurelCap Sdn. Bhd.  

Please refer to Appendix A for the details.

4.    EFFECT OF THE REVALUATION GAIN ON NET ASSETS PER SHARE

The recognition of revaluation gain, net of deferred tax, of RM48.60 million has resulted in an increase in net assets per share by RM0.07 as at 31 March 2025.

5.    DOCUMENTS FOR INSPECTION

The valuation report on the Property is available for inspection at the Registered Office of TCMH at 62-68, Jalan Sultan Azlan Shah, 51200 Kuala Lumpur, during normal business hours for a period of three (3) months from the date of this announcement.

This announcement is dated 23 May 2025.

Please refer attachment below.

Attachments

1. Appendix_A-Revaluation_of_Property.pdf (Size: 82,520 bytes)