News

We refer to our announcement dated 20 August 2019 pertaining to the Memorandum of Understanding (“MOU”) executed by TC Manufacturing (Labuan) Pte Ltd, a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“Company”), with SAIC GM Wuling Automobile Co., Ltd (“SGMW”), a three-shareholder joint venture company between SAIC Motor Corporation Limited, Liuzhou Wuling Motors Co. Limited and GM China, to cooperate in the study of the potential and feasibility of the business opportunity in introducing SGMW commercial vehicle products to Southeast Asia with initial identified countries namely Vietnam, Myanmar, Cambodia and Lao PDR (“Project”).

The Board of Directors of the Company wishes to announce that TC Manufacturing (Labuan) Pte Ltd had today received the executed Supplemental MOU from SGMW to extend the term of the MOU, which had expired on 31 December 2019, for a further period of six (6) months from 1 January 2020 to 30 June 2020 and to expand the definition of Project to include other products of SGMW in addition to the commercial vehicle products.

This announcement is dated 3 January 2020.