Tan Chong to see better 2H, says ED

By Sheikh Al-Zaquan of theedgemalaysia.com | The Edge Malaysia – Wed, May 23, 2012

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KUALA LUMPUR (MAY 23): Tan Chong Motor Holdings Bhd expects its performance to improve in the second half of the year, as supply issues are resolved.

Speaking after the company's AGM on Wednesday, Edaran Tan Chong Motor Sdn Bhd executive director Datuk Dr Ang Bon Beng said the company had reassured its shareholders that earnings would recover in the second half.

Tan Chong reported that its net profit had fallen 57% to RM31.7 million in its first quarter from RM74.1 million a year ago.

The company cited stock constraints as a major issue, in addition to high selling costs and tighter lending measures.

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