In a note, AmBank Research said one of the reasons for the losses was the lower-than-expected sales volume in the domestic market despite the boost from the Penjana SST exemption throughout the second half of 2020. The other reason is due to its operations in Vietnam.
KUALA LUMPUR: The worst may not be over for automotive distributor Tan Chong Motor Holdings Bhd
(TCM) as overseas operations and lower Nissan sales may put a further dent to its bottomline.
For the financial year ended Dec 31,2020 (FY20), the group posted a core net loss of RM163.5mil, which came in way below consensus full-year estimates.
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