News

We refer to our announcement dated 15 November 2018 pertaining to the proposed acquisition by TC Capital Resources Sdn Bhd ("TCCR"), a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad ("TCMH" or "Company"), of 200,000 ordinary shares in Chauffeur Safe Travel Sdn Bhd ("CST") representing 100% of the equity interest in CST for a total cash consideration of RM200,000.00 ("Proposed Acquisition") whereby the Proposed Acquisition is conditional upon CST obtaining approval from the Commissioner of Tourism of the Ministry of Tourism and Culture of Malaysia ("MOTAC") for the changes in the shareholders and directors of CST ("Changes").

The Board of Directors wish to inform that CST had on 19 December 2018 obtained the approval from MOTAC for the Changes and accordingly, the Proposed Acquisition has become unconditional and will be completed by 26 December 2018. Upon completion, CST will become a 100% owned subsidiary of TCCR.

This announcement is dated 19 December 2018.