Others - Extension of Notice Period For The Termination Of Joint Venture Agreement Dated 22 September 2010 Between Etcm (v) Pte Ltd And Nissan Motor Co., Ltd.
| Type | Announcement |
| Subject | OTHERS |
| Description |
EXTENSION OF NOTICE PERIOD FOR THE TERMINATION OF JOINT VENTURE AGREEMENT DATED 22 SEPTEMBER 2010 BETWEEN ETCM (V) PTE LTD AND NISSAN MOTOR CO., LTD. |
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Reference is made to Tan Chong Motor Holdings Berhad’s (“TCMH” or “Company”) announcement dated 14 December 2018 with regard to the notice of termination of Joint Venture Agreement dated 22 September 2010 (“JV Agreement”) entered into between ETCM (V) Pte Ltd (“ETCMV”), a wholly-owned subsidiary of the Company, and Nissan Motor Co., Ltd. (“NML”) which ETCMV had received from NML that the JV Agreement is to end on 10 September 2019.
The Company hereby wishes to inform that arising from discussions between ETCMV and NML, both parties have mutually agreed via Letter of Agreement dated 6 September 2019 for an extension of the said notice period from 10 September 2019 to 30 September 2020. As such, the JV Agreement will now terminate on 30 September 2020.
The extension of notice period of the termination of the JV Agreement has no significant financial and operational impact on the Group for the current financial year.
This announcement is dated 10 September 2019. |
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Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 10 Sep 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-07092019-00004 |