PETALING JAYA: Tan Chong Motor Holdings Bhd
posted a 14.7% year-on-year (y-o-y) rise in revenue to RM530.5mil for its third quarter ended Sept 30, 2025 (3Q25).
The auto group posted a lower net loss of RM60.25mil for the period (versus a net loss of RM90.28mil in 3Q24) due to a decrease in net foreign exchange losses, partially offset by higher impairment losses on receivables.
For the nine months period, Tan Chong's revenue hit RM1.62bil, an improvement of 3.2% compared to RM1.57bil recorded in the corresponding period of the preceding year. Losses also decreased to RM115.8mil from RM162.2mil losses in the corresponding period of the previous year.
The lower loss figure was primarily due to the recognition of a one-off fair value gain on investment properties amounting to RM50.6mil and lower net foreign exchange losses, partially offset by higher impairment losses on receivables.
As at Sept 30, 2025, the Group’s retained earnings stood at RM1.22bil, while net assets per share decreased to RM3.65 from RM3.85 as at Dec 31, 2024, mainly due to the losses incurred during the period.
In a filing with Bursa Malaysia, Tan Chong said the local assembly of the TQ-Wuling Bingo electric vehicle (EV) has advanced on schedule, with commercial launch targeted for the fourth quarter, positioning the Group to capture demand in Malaysia’s urban and value EV segment.
"While operating conditions remain challenging amid intense competition and industry transition toward electrification, the Group is implementing targeted measures to reinforce revenue streams, sustain cost rationalisation, and position its diversified operations for a strategic turnaround," it stated.
