KUALA LUMPUR: Tan Chong Motor Holdings Bhd's share price rose on Thursday, Sept 9 after its unit Tan Chong Industrial Equipment Sdn Bhd signed an exclusive completely knocked-down (CKD) franchise and distribution agreement with Xi'an Silver Bus Corp.
At 9.20am, Tan Chong was up 12 sen to RM5.15 with 75,700 shares traded.
Tan Chong said the 10-year deal involved the assembly and distribution of CKD buses under the Silver Bus brand in Malaysia and other countries that may be agreed on by Tan Chong Industrial Equipment and Silver Bus.
"The assembly and distribution of Silver Bus vehicles will be carried out using the existing business structure of TCIE thus enabling it to expand its product range into Chinese luxury coaches with minimal capital expenditure investment," it said.
At 9.20am, Tan Chong was up 12 sen to RM5.15 with 75,700 shares traded.
Tan Chong said the 10-year deal involved the assembly and distribution of CKD buses under the Silver Bus brand in Malaysia and other countries that may be agreed on by Tan Chong Industrial Equipment and Silver Bus.
"The assembly and distribution of Silver Bus vehicles will be carried out using the existing business structure of TCIE thus enabling it to expand its product range into Chinese luxury coaches with minimal capital expenditure investment," it said.
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