via CAAI News Media
Written by Joseph Chin
Thursday, 11 March 2010
KUALA LUMPUR: TAN CHONG MOTOR HOLDINGS BHD []'s (TCM) unit will distribute Nissan brand completely built-up (CBU) vehicles in Cambodia.
It said on Thursday, March 11 that its unit, ETCM (C) Pty Ltd had entered into a distribution agreement with Nissan Motor Co, Ltd for the sole and exclusive right to distribute Nissan brand CBU vehicles in Cambodia.
TCM said the total financial commitment for the new Nissan business in Cambodia for the first five years of operation, including setting up of showrooms and working capital, is estimated at US$5 million to be funded by the group from its internal sources.
The distribution is expected to start in the second quarter of 2010 with an initial sales volume of 200 units per year. The initial term of the agreement shall be for two years.
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