The Board of Directors of Tan Chong Motor Holdings Berhad (“the Company”)  informs that the Company has incorporated a wholly-owned subsidiary named TC OVERSEAS ASSETS (LABUAN) PTE LTD [“TC Overseas Assets (Labuan)”] under the Labuan Companies Act 1990 on 5 December 2013.

TC Overseas Assets has an issued and paid-up share capital of USD1.00. Its principal activity will be investment holding.

The incorporation of TC Overseas Assets (Labuan) has no material effect on the earnings, gearing and net assets of the Group for the financial year ending 31 December 2013.