News

The Board of Directors of APM Automotive Holdings Berhad ("APM" or "the Company") wishes to announce that APM Thermal Systems Sdn Bhd (“APMTS”), a wholly-owned subsidiary of the Company, proposes to enter into a related party transaction which falls within the ambit of Section 132E of the Companies Act, 1965 (the “Act”) with TC Aluminium Castings Sdn Bhd (“TCAC”), namely, the proposed acquisition (“Proposed Acquisition”) of  the assets of TCAC used for the casting, machining and assembly of aluminium parts and components and other related assets (collectively, the “Assets”) as detailed in section 2.1 of the attachment for a total cash consideration of RM5,701,318.00, which is subject to price adjustment (“Proposed Acquisition Price”) and conditional upon the fulfilment of the Conditions Precedent as set out in section 3(b) of the attachment. TCAC is a wholly-owned subsidiary of TC Manufacturing Holdings Sdn Bhd (“TCMan”), which in turn is a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“TCMH”).

This announcement is made pursuant to paragraph 10.08(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”), as based on the audited financial statements of the Company for the year ended 31 December 2015, the highest percentage ratio applicable for the Proposed Acquisition pursuant to paragraph 10.02(g) of the MMLR is 0.48%. 

Please refer to the attachment for further details on the Proposed Acquisition.

This announcement is dated 27 April 2016.