KUALA LUMPUR, Oct 1 — Tan Chong Motor Holdings Bhd’s (TCMH) indirect wholly-owned subsidiary, TC Manufacturing (Labuan) Pte Ltd, has entered into a memorandum of understanding (MoU) with PT SGMW Motor Indonesia (SGMW) to explore potential automotive markets in Malaysia and Thailand.
TCMH, the franchise holder of Nissan cars in Malaysia, said the MoU would provide both parties with business opportunities by sharing confidential information with each other.
“The proposed project could provide the group with the opportunity to expand its foothold in the automotive industry in the region,” it said in a filing with Bursa Malaysia today, adding that the MoU will be in effect until the end of next year.
TC Manufacturing (Labuan) Pte Ltd is principally engaged in investment holding activities, while PT SGMW Motor Indonesia is a subsidiary of China’s SAIC GM Wuling Automobile Co Ltd, which manufactures commercial vehicles, passenger vehicles and engines. — Bernama
