KUALA LUMPUR: Tan Chong Motor Holdings Bhd (TCMH) has won a three-year exclusive distributorship for SYM motorcycles in Laos where it expects to sell 12,200 units in the first three years of operations.
In a statement to Bursa Malaysia yesterday, TCMH said its wholly-owned subsidiary Tan Chong Motorcycles (Laos) Co Ltd (TCML) had been appointed by Vietnam Manufacturing and Export Processing Co Ltd (VMEP) to be the exclusive distributor, importer and after-sales service provider for all SYM motorcycles in Laos.
The distribution of SYM motorcycles in Laos is expected to commence in the first half of 2012 with showrooms set up in Savan-Seno Special Economic Zone and Vientiane, it said. The three-year agreement effective Monday is renewable with written consent from both parties.
An established motorcycle manufacturer in Vietnam with over 230 authorised sales and service centres in Vietnam, VMEP is wholly-owned by Hong Kong-listed VMEP Holdings Ltd, a subsidiary of Taiwan-listed Sanyang Industry Co Ltd.
Incorporated on Dec 9, 2010 in Vietnam, TCML is licensed to undertake the assembly of SYM motorcycles for domestic sale and export. TCML is also licensed to import “spare parts of motorcycles and all types of vehicles in Laos”.
TCMH expects the distributorship to boost group earnings “in the long term” but would not materially affect numbers for FY ending Dec 31, 2012.
This article appeared in The Edge Financial Daily, January 4, 2012.
In a statement to Bursa Malaysia yesterday, TCMH said its wholly-owned subsidiary Tan Chong Motorcycles (Laos) Co Ltd (TCML) had been appointed by Vietnam Manufacturing and Export Processing Co Ltd (VMEP) to be the exclusive distributor, importer and after-sales service provider for all SYM motorcycles in Laos.
The distribution of SYM motorcycles in Laos is expected to commence in the first half of 2012 with showrooms set up in Savan-Seno Special Economic Zone and Vientiane, it said. The three-year agreement effective Monday is renewable with written consent from both parties.
An established motorcycle manufacturer in Vietnam with over 230 authorised sales and service centres in Vietnam, VMEP is wholly-owned by Hong Kong-listed VMEP Holdings Ltd, a subsidiary of Taiwan-listed Sanyang Industry Co Ltd.
Incorporated on Dec 9, 2010 in Vietnam, TCML is licensed to undertake the assembly of SYM motorcycles for domestic sale and export. TCML is also licensed to import “spare parts of motorcycles and all types of vehicles in Laos”.
TCMH expects the distributorship to boost group earnings “in the long term” but would not materially affect numbers for FY ending Dec 31, 2012.
This article appeared in The Edge Financial Daily, January 4, 2012.
