Bursa Announcements

The Board of Directors would like to announce that Tan Chong Motor Assemblies Sdn Bhd (“TCMA”), a subsidiary of the Company, has on 22 May 2020 received bills of demand dated 15 May 2020 from the Royal Malaysian Customs Department (“RMCD”) amounting to RM180,105,596.86 for excise duty in respect of periods from 1 November 2016 to 31 October 2019.

TCMA does not admit to any liability on the demands made by the RMCD and will take the appropriate measures upon seeking further advice on the matter.

The Company will update any material developments on the above matter from time to time.

This announcement is dated 27 May 2020.