The story
Foundation
The roots of Tan Chong International Limited can be traced back to 1957, under the business units of Tan Chong Motor Holdings Berhad (TCMH). To adapt to changes in the business market, TCMH underwent a major business unbundling and restructuring in the 1990s (up until 1999). This resulted in the spin-off of four independent listed entities:
Tan Chong Motor Holdings Berhad (responsible for domestic automotive manufacturing and sales in Malaysia)
APM Automotive Holdings Berhad (involved in automotive parts)
Warisan TC Holdings Berhad (managing non-automotive businesses like heavy machinery, interior decorations, and car rental)
Tan Chong International Limited (TCIL) (handling all overseas automotive sales operations as of the restructuring)
Since no new shares were issued, Tan Chong International was listed by way of introduction on the Hong Kong Stock Exchange with the counter 693 and the Singapore Exchange with the counter T15 on July 7, 1998.
TCIL's Singapore headquarters are located at the Tan Chong Motor Centre, 911 Bukit Timah Road. Its Hong Kong headquarters are at Unit 3001, 30th Floor, Shui On Centre, 6-8 Harbour Road, Wan Chai, Hong Kong. Additionally, TCIL established Taiwan Motor Image Co., Ltd. in 2007 to import and distribute Subaru vehicles from Japan into Taiwan.
Recent Developments
Tan Chong International Limited continues to make strategic adjustments to its business. For example, in 2009, the company acquired a truck manufacturing plant in Thailand for the production and distribution of Fuso trucks. They also invested in an automotive parts factory in Nanjing, China, to enhance their seat manufacturing capabilities. More recently, the group has focused on asset optimization, including the potential sale or long-term lease of its automotive manufacturing plant in Thailand (with automotive production expected to cease by the end of 2024). They are also committed to expanding their equipment and car rental businesses in China and Singapore, respectively.
From Wikipedia’s article on Tan Chong International Limited, shared under CC BY-SA 4.0.4