KUALA LUMPUR, May 7 — Motor vehicle distributor, Tan Chong Motor Holdings Bhd is investing RM500 million to build the Tan Chong Automotive and Commercial Vehicle Hub in Bagan Datuk as part of its strategic business plan.
“The spin-offs from this investment will include the creation of new jobs, influx of new pertinent investments and the spurring of Bagan Datuk’s economic growth,” the group said in a filing to Bursa Malaysia today.
For the first phase, the group said it would commence with a total investment outlay of RM100 million, which would be channelled towards land acquisition and the construction of a bus and truck plant.
Once completed, this new plant will cater to the production expansion needs of the local and export markets.
Buses produced by the group are currently exported to Singapore, Hong Kong and Myanmar, while it is looking at other potential markets in the region including Thailand, Sri Lanka, Vietnam and Indonesia. — Bernama
