KUALA LUMPUR: Tan Chong Motor Holdings Bhd
yesterday announced it will invest RM285mil to build cars in Sabah after it received an approval letter from the International Trade and Industry Ministry for its application of a licence to manufacture and assemble luxury passenger vehicles and commercial vehicles.
Tan Chong said the approval letter was on condition that the manufacturing and assembly activities would be for luxury passenger cars with 1,800cc and above and costing no less than RM150,000. The licence is for Tan Chong to conduct manufacturing of vehicles at the Kota Kinabalu Industrial Park (KKIP), Sabah, which was built to establish Sabah as the gateway to the Brunei-Indonesia-Malaysia-Philippines-East ASEAN Growth Area (BIMP-EAGA).
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