Supplemental Letter To The Joint Venture Agreement Between tan chong construction (labuan) Pte Ltd, an Indirect Wholly-owned Subsidiary Of Tan Chong Motor Holdings Berhad, and An Tam Construction And Trading Co., Ltd. Dated 13 March 2020
| Type | Announcement |
| Subject | OTHERS |
| Description |
Supplemental Letter to the Joint Venture Agreement between Tan Chong Construction (Labuan) Pte Ltd, an Indirect Wholly-Owned Subsidiary of Tan Chong Motor Holdings Berhad, and An Tam Construction and Trading Co., Ltd. dated 13 March 2020 |
|
We refer to our announcement dated 13 March 2020 pertaining to the Joint Venture Agreement (“JV Agreement”) executed by Tan Chong Construction (Labuan) Pte Ltd, an indirect wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“Company”), with An Tam Construction and Trading Co., Ltd. (“Antaco Vietnam”), to regulate the arrangement relating to the management, operations, affairs and the rights and obligations of the parties as members of a joint venture company to be incorporated in Vietnam under the name of TAN CHONG ANTACO Construction Co., Ltd. or any other name agreed in writing by the parties and approved by the Department of Planning and Investment under the People’s Committee of City at place of registration, to carry out construction business activities. |
|
The Board of Directors of the Company wishes to announce that Antaco Vietnam had accepted the Supplemental Letter to the JV Agreement from Tan Chong Construction (Labuan) Pte Ltd for:
(a) the extension of the term for the setting up of the joint venture company in Vietnam from within 60 days from the date of the JV Agreement to 31 October 2020; and
(b) the extension of the term for obtaining the Investment Registration Certificate, the Enterprise Registration Certificate and/or other approval(s) from the relevant authorities in Vietnam required to operate the business, from within six (6) months from the date of the JV Agreement to within nine (9) months from the date of the JV Agreement.
This announcement is dated 12 June 2020.
Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 12 Jun 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11062020-00044 |