News

Further to the Company’s announcement dated 15 March 2021, the Board of Directors of APM Automotive Holdings Berhad (“APM” or “the Company”) wishes to announce that APM Shock Absorbers Sdn. Bhd. (“APMSA”), a wholly-owned subsidiary of APM, has on 18 June 2021 entered into a Subscription and Shareholders’ Agreement (“Shareholders’ Agreement”) with Tan Chong Motor Assemblies Sdn. Bhd. (“TCMA”), a 70% owned subsidiary of Tan Chong Motor Holdings Berhad (“TCMH”), TCIM Sdn. Bhd. (“TCIM”), a wholly-owned subsidiary of Warisan TC Holdings Berhad (“WTCH”), and TC Sunergy Sdn. Bhd. (“TC Sunergy”), an indirect subsidiary of TCMH, to regulate the relationship of the parties as shareholders through equity participation by TCMA, APMSA and TCIM via 51%, 40% and 9% of all the ordinary issued and paid-up shares respectively in TC Sunergy for the development, construction and commissioning of a 20MW large scale floating solar photovoltaic system on the water surface of a reservoir known as “Kawasan Kolam Takungan Air Serendah” Daerah Ulu Selangor, Selangor Darul Ehsan and a part of its surrounding area.

Please refer to the attachment for the full text of the announcement.

This announcement is dated 18 June 2021.