News

The Board of Directors of Tan Chong Motor Holdings Berhad (“TCMH” or “the Company”) informs that the Group has registered a wholly-owned subsidiary named Tan Chong Mekong Regional Co., Ltd (“TC Mekong”) as a juristic person by virtue of the Civil and Commercial Code of Thailand as evidenced by a Certificate of Registration of Partnerships and Companies dated 31 March 2015 issued by the Department of Business Development, Ministry of Commerce, Thailand.

The principal activity of TC Mekong is to carry on as a Regional Operating Headquarters (ROH) with the objective to provide TCMH and its affiliated companies services in the areas of sourcing of raw materials and parts, product research and development, technical support, business advisory services, among others. The ROH investment promotion was approved by the Board of Investment of Thailand on 5 February 2015 and the investment promotion was duly accepted by the Group on 19 March 2015. 

TC Mekong has a registered capital of THB100,000,000/- (One Hundred Million Baht) divided into 1,000,000 shares with a par value of THB100/- each, and of which THB 25/- has been paid for each share. The shareholders of TC Mekong are set out in the table attached below.

The registration of TC Mekong is not expected to have any material effect on the earnings, gearing or net assets of the Group for the financial year ending 31 December 2015.

None of the Directors and/or major shareholders of the Company or persons connected with them, has any interest, direct or indirect, in the registration of TC Mekong.

This announcement is dated 2 April 2015.