Tan Chong to build RM500m automotive hub in Bagan Datuk

PETALING JAYA: Tan Chong Motor Holdings Bhd will set up an automotive hub in Bagan Datuk, Perak, with an estimated long-term investment cost of RM500 million.
The group told Bursa Malaysia today that the Tan Chong Automotive & Commercial Vehicle Hub is a strategic business plan that demonstrates its commitment towards Malaysia’s industrialisation and economic growth.
Tan Chong expects to start with an outlay of RM100 million, which will be channelled towards land acquisition and the construction of the first phase of a bus and truck plant.
Upon completion, the plant, which will cover 338 acres of freehold land, will cater to the production expansion needs of the local and exports markets.
Tan Chong said spin-offs from the investment will include creating new jobs, attracting new investments and spurring Bagan Datuk’s economic growth.“It is also expected to strategically tap into the growth regions of the North Corridor Economic Region.”
Tan Chong noted that buses produced by the group are currently exported to Singapore, Hong Kong and Myanmar. It continues to explore potential markets in the region including Thailand, Sri Lanka, Vietnam and Indonesia.
On Bursa Malaysia today, Tan Chong was unchanged at RM1.64 on volume of 98,000 shares.