Incorporation Of A New Subsidiary In Cambodia
BackDec 14, 2005
| Type | Announcement |
| Subject | Incorporation of a new subsidiary in Cambodia |
Contents :
Further to the announcement made by the Company on 12 April 2005 regarding the management’s plan to expand the Group’s automotive business in potential markets in ASEAN countries, the Directors of the Company wish to inform that the Group has incorporated a company under the commercial laws of the Kingdom of Cambodia with the name TC Express Auto Services and Spare Parts (Cambodia) Pty Ltd [“TCEAS (Cambodia)”] to carry on automobile after-sales services and spare parts business in Cambodia. Approval from the Ministry of Commerce of Cambodia dated 9 December 2005 for the registration of TCEAS (Cambodia) was received by the Company on 13 December 2005.
TCEAS (Cambodia) has a registered capital of 20,000,000 Cambodian Riel (approximately USD5,000/-) comprising 1,000 ordinary shares, each having a par value of 20,000 Cambodian Riel (approximately USD5/-). It is a wholly-owned subsidiary of TC Express Auto Services and Spare Parts (Labuan) Pty Ltd, a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad.
The above formation has no material effect on the earnings and net tangible assets of the Group for the financial year ending 31 December 2005.
None of the Directors and substantial shareholders of the Company has an interest, direct or indirect, in the above formation of company.
Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 14 Dec 2005 |
| Category | General Announcement |
| Reference No | TC-051214-9CEDE |