Type | Announcement |
Subject | Incorporation of New Subsidiaries |
1. Edaran Tan Chong Motor (Utara) Sdn Bhd;
2. Edaran Tan Chong Motor (Tengah) Sdn Bhd;
3. Edaran Tan Chong Motor (Selatan) Sdn Bhd;
4. Edaran Tan Chong Motor (Sarawak) Sdn Bhd; and
5. Edaran Tan Chong Motor (Sabah) Sdn Bhd.
These companies. all of which are wholly - owned by Edaran Tan Chong Motor Sdn Bhd, itself a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad, each have an authorised share capital of RM100,000 divided into 100,000 shares of par value RM1.00 each, and an issued and paid-up capital of RM2.00 upon incorporation.
The companies are set up to facilitate an internal re-arrangement of the distribution activities into business units with a view to further sharpened business focus by regions and to better link incentives and rewards to performance.
Apart from the anticipated improvement in operating efficiency, this internal re-arrangement is not expected to have any material impact on the earnings and net tangible assets of the Group for the financial year ending 31 December 2004.
Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
Stock Name | TCHONG |
Date Announced | 28 May 2004 |
Category | General Announcement |
Reference No | TC-040528-71D60 |