Tan Chong Motor Holdings

Bursa Announcements

Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions

BackApr 27, 2016
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description

PROPOSED DISPOSAL OF ASSETS BY TC ALUMINIUM CASTINGS SDN BHD (AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF TCMH) TO APM THERMAL SYSTEMS SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF APM AUTOMOTIVE HOLDINGS BERHAD) FOR A TOTAL CASH CONSIDERATION OF RM5,701,318/-

Pursuant to paragraph 10.08(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), the Board of Directors of TCMH informs that TC Aluminium Castings Sdn Bhd (“Vendor” or “TCAC”), a wholly-owned subsidiary of TC Manufacturing Holdings Sdn Bhd (“TCMan”) which in turn is a wholly-owned subsidiary of TCMH, proposes to enter into a related party transaction with APM Thermal Systems Sdn Bhd (“Purchaser” or “APMTS”), a wholly-owned subsidiary of APM Automotive Holdings Berhad (“APM”), in respect of the proposed disposal (“Proposed Disposal”) of the assets of TCAC used for the casting, machining and assembly of aluminium parts and components and other related assets (collectively, the “Assets”) as detailed in section 2.1 of the attached announcement for a total cash consideration of RM5,701,318/- which is subject to price adjustment and conditional upon the fulfilment of the Conditions Precedent as set out in section 3(b) of the attached announcement.

Please refer to the attachment for the full announcement in relation to the Proposed Disposal.

This announcement is dated 27 April 2016.

 


Announcement Info

Company Name TAN CHONG MOTOR HOLDINGS BERHAD
Stock Name TCHONG
Date Announced 27 Apr 2016
Category General Announcement for PLC
Reference Number GA1-26042016-00018

 

Attachments

  1. TCMH-20160427.pdf (Size: 57,329 bytes)