Bursa Announcements

It was disclosed in the Notes to the audited Financial Statements for year ended 31 December 2012 of Tan Chong Motor Holdings Berhad (“TCMH”) and in its two unaudited quarterly financial statements of 2013 that the General Department of Vietnam Customs was of the opinion that a subsidiary, i.e., Nissan Vietnam Co., Ltd. (“NVL”), which is 74% owned by the TCMH Group, was not entitled to preferential import tax rate for the importation of CKD parts and kits.

The Board of TCMH informs that NVL is in receipt of decisions from the Customs Chief of Ha Noi Processing and Investment Customs Branch dated 23 September 2013 and 8 October 2013 that an amount totalling VND 357,028,537,085 equivalent to approximately USD 16.98 million, being the additional import duties payable by NVL in respect of the importation of CKD parts and kits for the period from 2010 to 2012.

NVL has submitted its appeal against the decisions. Further announcements will be made on any new developments arising from the matter.  

This announcement is dated 16 October 2013.