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Graphics (Art) - (Tan Chong Group).; On the surface, all seems well in the well-oiled machinery of the automobile company. But beneath, there could be some friction.
IS something brewing in one of the country's premier motor groups, the Tan
Chong Group of companies?
Industry sources say that behind the seemingly calm facade, there could
be some unhappiness between the directors over the way things are run.
However, the sources add the dispute is not likely to affect the
operations of the company.
Currently, the Tan Chong Group comprises four listed companies (see
chart): Tan Chong Motor Holdings Bhd (T. Chong), Tan Chong International
Ltd which is listed on the Stock Exchange of Hong Kong, Warisan TC
Holdings Bhd (Warisan) and APM Automotive Holdings Bhd (APM).
Datuk Tan Heng Chew, the son of the late Tan Sri Tan Yuet Foh, and Datuk
Tan Kim Hor are running the show at Tan Chong Group. Yuet Foh and his
brother Kim Hor founded the company.
According to sources, some simmering discontent has apparently surfaced
between some cousins over certain operational matters. It is believed that
some directors have a different view of the future direction of the
company and want more say in operational matters.
The Tan family controls the companies under the group via Tan Chong
Consolidated Sdn Bhd and Parasand Ltd. According to the latest annual
report, parties deemed interested in Tan Chong Consolidated and Parasand
are Kim Hor, Heng Chew, Dr Tan Ban Leong, Tan Beng Keong, Tan Boon Pun,
Tan Eng Soon, Tan Hoe Pin, Dr Tan Kang Leong and Tan Keng Leong.
It is unclear as to who is aligned to whom. Heng Chew, the executive
deputy chairman of Tan Chong, did not respond...