Sharing of Tan Chong assets dispute settled

PETALING JAYA: The family of Datuk Tan Kim Hor will receive its share of assets in the regional Tan Chong group over five years, while the late Tan Sri Tan Yuet Foh’s family has entrenched its control in the group following a settlement, sources said yesterday.

The Malaysian-listed companies in the group – Tan Chong Motor Holdings Ltd, APM Automotive Holdings Bhd and Warisan TC Holdings Bhd – announced on Tuesday that shareholders of Tan Chong Consolidated Sdn Bhd (TCC) reached a compromise and settlement agreement based on a progressive release of shares in the listed companies to TCC’s exiting minority shareholders.