News

We refer to our announcements dated 20 August 2019, 20 November 2019, 3 January 2020, 3 April 2020 and 7 August 2020 pertaining to the Memorandum of Understanding (“MOU”) dated 20 August 2019 executed by TC Manufacturing (Labuan) Pte. Ltd., a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“Company”), with SAIC GM Wuling Automobile Co., Ltd (“SGMW”), a three-shareholder joint venture company between SAIC Motor Corporation Limited, Liuzhou Wuling Motors Co. Limited and GM China, to cooperate in the study of the potential and feasibility of the business opportunity in introducing SGMW commercial vehicle products and other products of SGMW to Southeast Asia with initial identified countries namely Vietnam, Myanmar, Cambodia and Lao PDR (“Project”).

As announced, the MOU which was supplemented by a Supplemental MOU dated 31 December 2019 and a 2nd Supplemental MOU dated 30 June 2020, will expire on 31 December 2020.  

The Board of Directors of the Company wishes to announce that both parties are currently studying the Project and discussions on the Project are on-going per the MOU. Further announcement(s) on the progress of the project study will be made accordingly.

This announcement is dated 6 November 2020.

Announcement Info