News

We refer to our announcements dated 13 March 2020, 12 June 2020 and 14 October 2020 pertaining to the Joint Venture Agreement dated 13 March 2020 as supplemented by Supplemental Letters dated 10 June 2020, 13 October 2020 and 15 December 2020 (collectively, “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 (“JV Co.”) 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 on 25 March 2021 accepted the Fourth 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 JV Co. in Vietnam from 12 March 2021 to 12 September 2021; 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 12 months from the date of the JV Agreement to within 24 months from the date of the JV Agreement. 

This announcement is dated 25 March 2021.

Announcement Info