News

We refer to our announcements dated 20 August 2019, 20 November 2019, 3 January 2020, 3 April 2020, 7 August 2020 and 6 November 2020 pertaining to the Memorandum of Understanding dated 20 August 2019 which was supplemented by a Supplemental Memorandum of Understanding dated 31 December 2019 and a 2nd Supplemental Memorandum of Understanding dated 30 June 2020 (collectively, “MOU”) executed by TC Manufacturing (Labuan) Pte. Ltd., an indirect wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“TCMH”), with SAIC GM Wuling Automobile Co., Ltd. (“SGMW”) 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”). 

The Board of Directors of TCMH is pleased to announce that pursuant with the MOU, TC Motor Vietnam Co., Ltd. (“TCMV”), another indirect wholly-owned subsidiary of TCMH, has been nominated by TC Manufacturing (Labuan) Pte. Ltd. to enter into a SGMW Vehicle and Parts Export Contract (“Export Contract”) with SGMW, and TCMV had on 25 March 2021 executed the Export Contract with SGMW for the appointment of TCMV as SGMW’s sole and exclusive importer and distributor of vehicles and parts of N111P Pickup, N300P Pickup and N300L Cargo Van (“Products”) in Vietnam and the provision of after-sales services for the Products.

Please refer to the attached file for the full text of the announcement.

This announcement is dated 25 March 2021.