KUALA LUMPUR: Maybank KE Research has maintained its Buy rating on Tan Chong Motor
(TCM) with a target price of RM7.45 as it had recently secured a 50-year permit from the Myanmar Investment Commission (MIC) to manufacture and market motor vehicles in the Bago region, Myanmar.
In a note on Monday, Maybank KE said it is positive on this development, as it allows TCM to progressively grow its regional footprint and reduce dependency on the domestic market.
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