We refer to our announcements dated 20 August 2019, 20 November 2019, 3 January 2020 and 3 April 2020 pertaining to the Memorandum of Understanding (“MOU”) executed by TC Manufacturing (Labuan) Pte Ltd, a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“Company”), with SAIC GM Wuling Automobile Co., Ltd (“SGMW”), a three-shareholder joint venture company between SAIC Motor Corporation Limited, Liuzhou Wuling Motors Co. Limited and GM China, 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 the Company wishes to announce that TC Manufacturing (Labuan) Pte Ltd and  SGMW had executed a 2nd Supplemental MOU to further extend the term of the MOU for another period of six (6) months to 31 December 2020.

This announcement is dated 7 August 2020.