KUALA LUMPUR: Tan Chong Motor Holdings Bhd's indirect wholly-owned subsidiary TC Motor Vietnam Co Ltd (TCMV) has inked a memorandum of understanding (MoU) with Xiamen King Long United Automotive Industry Co Ltd (King Long) to start negotiations to appoint TCMV as the sole and exclusive distributor of the King Long Kingo microbus model in Vietnam.
The distribution of King Long microbus models will be for both completely-built-up and completely-knocked-down versions, Tan Chong said in a filing with Bursa Malaysia today.
The company said the MoU was to facilitate the expansion of King Long and the group's collaboration in Vietnam with the exclusive distribution of the microbus.
"This will enable Tan Chong to offer more product varieties to its consumers, providing the group the opportunity to expand its foothold in the automotive industry in Vietnam," it said.
TCMV is currently the sole and exclusive distributor of the XMQ6829Y King Long coach in Vietnam. – BERNAMA