We refer to our announcements dated 1 October 2020, 31 December 2020, 31 March 2021 and 30 June 2021 pertaining to the Memorandum of Understanding (“MOU”) dated 1 October 2020 executed by TC Manufacturing (Labuan) Pte Ltd, an indirect wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“Company”), with PT. SGMW Motor Indonesia (“PT. SGMW”), a company established under the laws of Indonesia with its principal place of business at Kawasan Greenland International Industrial Centre, Blok BA No. 1, Kota Deltamas, Sukamahi, Cikarang Pusat, Kab. Bekasi, Jawa Barat, Indonesia 17530, to cooperate on the study of the potential and feasibility of business opportunities in introducing PT. SGMW’s vehicle products to Malaysia and Thailand (“Project”).

As announced, the MOU will expire on 31 December 2021 unless amended by the parties’ mutual agreement.  

The Board of Directors of the Company wishes to announce that both parties are currently studying the Project and discussions on the Project are on-going per the MOU. Further announcement(s) on the progress of the project study will be made accordingly.

This announcement is dated 30 September 2021.