The Board of Directors of Tan Chong Motor Holdings Berhad (“TCMH”) is pleased to announce that TC Overseas Assets Holdings Labuan Pte. Ltd. (“TCOAHL”), a wholly-owned subsidiary of TCMH, had on 22 December 2020 entered into a Memorandum of Understanding (“MOU”) with GAC Motor International Limited (“GAC International”), a company established under the laws of Hong Kong with its registered address at Room 801, Citicorp Centre, 18 Whitfield Rd., Causeway Bay, Hong Kong, to cooperate to study on the potential and feasibility of the business opportunity in introducing GAC International’s vehicle products (“Products”) to Malaysia and Vietnam (“Proposed Project”), with the intention to appoint TCOAHL or any other company under TCMH Group on exclusive basis for the sales, distribution, assembly and provision of after-sales services for the Products in the said countries.

Please refer to the attached file for the full text of the announcement.

This announcement is dated 22 December 2020.