KUALA LUMPUR: Tan Chong Motor Holdings Bhd’s net loss widened to RM58.14 million in the second quarter ended June 30, 2025 from RM40.11 million a year earlier on lower revenue and increased net foreign exchange losses.
Revenue dropped 1.2 per cent to RM538.77 million from RM545.09 million, dragged by softer consumer sentiment and intensified competition in both domestic and overseas markets.
For the first half of the year, the company posted a lower net loss of RM54 million compared to RM55.83 million a year earlier, while revenue slipped to RM1.09 billion from RM1.11 billion.
The company said the lower net loss in the six-month period was due to the recognition of a one-off fair value gain on investment properties amounting to RM54 million.
This was partially offset by lower sales, higher impairment losses on receivables, and increased net foreign exchange losses, it sid in a filing with Bursa Malaysia.
As at June 30, 2025, the group’s retained earnings stood at RM1.27 billion. Its net assets per share decreased to RM3.74 from RM3.85 as at Dec 31, 2024, primarily due to the losses incurred during the period.
The group said Nissan Kicks e-Power which was launched in December 2024, received encouraging sales in the quarter under review, supporting Nissan’s position in the electrified mobility segment.
“The commercial vehicle division recorded stable demand in Malaysia, with contributions including from Vietnam.
“Peparatory efforts are also underway for the introduction of the TQ-Wuling N300P in Myanmar, which is expected to broaden the group’s regional market presence,” it said.
In the electric vehicle (EV) segment, Tan Chong said that preparations are underway for the local assembly of the TQ-Wuling Bingo EV, which is scheduled for launch in the fourth quarter this year.
Meanwhile, GAC’s passenger line-up, particularly the GAC M8 luxury multi-purpose vehicle, and commercial models such as the TQ-Wuling N300P and Euro 5 King Long buses continued to sustain market interest in Vietnam.
Tan Chong’s share price closed one sen or 1.68 per cent lower at 58.5 sen, bringing its market valuation to RM393 million.
© New Straits Times Press (M) Bhd
