Bursa Announcements

Updates On Letters Of Non-Renewal Of Distribution Agreement Dated 20 September 2012 Between Tcie Vietnam Pte Ltd And Nissan Motor Co., Ltd.

We refer to our announcement dated 5 August 2020 pertaining to the non-renewal of the Distribution Agreement dated 20 September 2012 executed between TCIE Vietnam Pte. Ltd. (“TCIEV”), an indirect wholly-owned subsidiary of the Company, and Nissan Motor Co., Ltd. (“NML”) (“Distribution Agreement”) for the Nissan Sunny and X-Trail models (“Nissan CKD Models”) in Vietnam and wish to inform that TCIEV had on 18 September 2020 received another letter from NML on the termination of the Technical Assistance Agreement dated 30 May 2012 (“TAA”) executed between TCIEV and NML for the rendering of technical assistance to TCIEV by Nissan for the assembly of the Nissan CKD Models on 19 September 2020 in accordance with the expiration of the Distribution Agreement.

The expiration of the Distribution Agreement and the termination of the TAA are not expected to have major financial and operational impact to the Group for the current financial year. 

This announcement is dated 21 September 2020.

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