Non-Renewal of Distributorship Agreement
Type | Announcement |
Subject | OTHERS |
Description |
Non-Renewal of Distributorship Agreement |
Reference is made to Tan Chong Motor Holdings Berhad’s (“TCMH” or “Company”) announcement dated 1 December 2014 with regard to the Distributorship Agreement dated 1 December 2014 executed between TC Motorcycles (Vietnam) Co. Ltd. (“TC Motorcycles Vietnam”), an indirect wholly-owned subsidiary of TCMH, and Kawasaki Heavy Industries, Ltd. (“KHI”) in which TC Motorcycles Vietnam was appointed an exclusive distributor to sell completely built-up Kawasaki brand sports type motorcycles (excluding mopeds and scooters) and spare parts and accessories in Vietnam for a period of three (3) years subject to renewal. The Company hereby wishes to inform that TC Motorcycles Vietnam has on 25 February 2019 entered into an Amendment Agreement with KHI for further extension of the said Distributorship Agreement up to 31 March 2019. The Distributorship Agreement will not be renewed thereafter. The non-renewal of the Distributorship Agreement has no significant financial and operational impact on the Group for the current financial year.
This announcement is dated 25 February 2019. |
Announcement Info
Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
Stock Name | TCHONG |
Date Announced | 25 Feb 2019 |
Category | General Announcement for PLC |
Reference Number | GA1-21022019-00019 |