KUALA LUMPUR: Tan Chong Motor Holdings Bhd's Vietnam unit, TC Services Vietnam Co Ltd, has been appointed as the sole and exclusive importer and distributor of completely-built-up (CBU) MG brand vehicles in the country.
In a filing to Bursa Malaysia, Tan Chong said TC Services was appointed by SAIC Motor International Co Ltd, and both parties had entered into an Overseas Distribution Agreement (ODA).
"The five-year ODA will provide Tan Chong with an opportunity to expand its foothold in the automotive industry in Vietnam,” it said.
Among others, the agreement also allows TC Services to provide after-sales spare parts and after-sales services for the CBU MG Brand Vehicles in Vietnam, including the appointment of dealers to perform these obligations and activities.
TC Services is authorised to engage in retail distribution of various kinds of automobiles, provision of automotive maintenance and repair and spare parts services.
SAIC Motor is a wholly-owned subsidiary of China’s largest automobile group, SAIC Motor Corporation Ltd, and is engaged in the automotive business, including but not limited to the sale of automobiles and relevant components.
SAIC Motor businesses include research and development, manufacturing, sales and after-sales of vehicles, auto components, auto-related services and trade, auto finance, international manufacturing and global international operations which include the United States of America, Britain, Thailand, as well as some Asia-Pacific and European countries.