Tan Chong sets up new automotive hub in Bagan Datuk

PETALING JAYA: Tan Chong Motor Holdings Bhd will set up a new automotive hub in Bagan Datuk, Perak with an estimated long-term investment cost of RM500 million.
The group told Bursa Malaysia 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 commence with a total outlay of RM100 million, which will be channeled towards land acquisition and the construction of the first phase of a bus & truck plant.
Upon completion, the plant will cater to the production expansion needs of the local and exports markets.
Spanning across 338 acres of freehold land, Tan Chong said spin-offs from the investment will include creating new jobs, attracting new pertinent 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 (NCER)."
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.
At the noon break, its shares were unchanged at RM1.64 on some 23,000 shares done.