Tan Chong Motor Holdings Berhad (“TCMH” or “Company”) had made an announcement dated 15 March 2021 on the receipt of a Letter of Notification from the Energy Commission (“EC”) notifying that Tan Chong Motor Assemblies Sdn. Bhd. (“TCMA”), an indirect subsidiary of the Company, APM Shock Absorbers Sdn. Bhd. (“APMSA”), a wholly-owned subsidiary of APM Automotive Holdings Berhad (“APM”) and TCIM Sdn. Bhd. (“TCIM”), a wholly-owned subsidiary of Warisan TC Holdings Berhad (“WTCH”) which collaborated as a consortium in the bid for the construction, operation and maintenance of a 20MW solar photovoltaic energy facility at Kawasan Kolam Takungan Air Serendah, Daerah Ulu Selangor, Selangor Darul Ehsan and a part of its surrounding area (“LSSPV Project”) had been selected as a Shortlisted Bidder for the LSSPV Project, subject to fulfillment of additional requirements to be issued by EC in due course.

In line with the above, the Board of Directors of the Company wishes to announce that TCMA and TC Sunergy Sdn. Bhd. (“TC Sunergy”), another indirect subsidiary of the Company, had on 18 June 2021 entered into a Subscription and Shareholders' Agreement ("SSA") with APMSA and TCIM to regulate the relationship of the parties (i.e. TCMA, APMSA and TCIM) as shareholders through equity participation by the subscription of 999,998 new ordinary shares in TC Sunergy for a total cash subscription consideration of RM999,998/- (“Proposed Subscription”) as the initial share capital of TC Sunergy, the company identified to undertake the LSSPV Project.

Please refer to the attachment for details.

This announcement is dated 18 June 2021.