Tuesday, 6 March 2012

TC Subaru picks Tan Chong Motors to assemble vehicles

KUALA LUMPUR (March 6): Tan Chong Motor Assemblies Sdn Bhd has been appointed by TC Subaru Sdn Bhd as its contract assembler to assemble passenger vehicles.

The agreement is effective Tuesday until Dec 31, 2013, TAN CHONG MOTOR HOLDINGS BHD [] said in a statement.

Tan Chong Motor Assemblies is a 70 per cent-owned subsidiary of Tan Chong Motor Holdings while TC Subaru is a subsidiary of Tan Chong International.

"The appointment would enable Tan Chong Motor Assemblies to utilise the production capacity of its assembly plants at an optimum level.

"Based on the forecast assembly units during the term, the expected total assembly charges and related localisation fees payable by TC Subaru to Tan Chong Motor Assemblies is estimated at RM30.22 million," it said. - Bernama

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