KUALA LUMPUR (Sept 14): Tan Chong Motor Holdings Bhd (KL:TCHONG) has signed a three-year agreement with Perodua to support its battery electric vehicle (BEV) project in Serendah.
According to a filing with Bursa Malaysia, under the agreement, Tan Chong’s subsidiary Tan Chong Motor Assemblies Sdn Bhd will provide electro-deposition (ED) coating and painting services, as well as assembly line rental and related services, to Perodua Sales Sdn Bhd.
The master agreement, which sets out the general terms of the partnership, is effective from June 1, 2026 to May 31, 2029. Perodua can extend the agreement for another two years by giving at least six months’ written notice before the initial term expires.
Tan Chong said the agreement does not require approval from its shareholders or any relevant authority. It follows a letter of intent signed by both parties in November 2025.
Tan Chong is a major automotive group involved in vehicle assembly, manufacturing and distribution. It is the sole distributor of Nissan and Renault passenger and commercial vehicles in Malaysia, with manufacturing operations in Vietnam, Laos, Thailand and Myanmar. It also provides after-sales services, makes auto parts and offers motor-related financial services.
For the second quarter ended June 30, 2026, Tan Chong’s net loss narrowed to RM21.6 million from RM58.1 million a year earlier, mainly due to a one-off gain from asset disposal, lower operating costs and foreign exchange gains.
However, revenue fell 12.42% to RM471.9 million from RM538.8 million.
Tan Chong’s shares were down 1% to 45.5 sen at the time of writing on Monday, giving the company a market value of RM305.8 million.