Tan Chong's 1H earnings slump due to 'price war'
- 6 years ago
Tan Chong Motor holdings's net profit for the second quarter ended June 30th, 2014 dropped 20.1 per cent from a year ago to 53.84 million ringgit, while revenue fell 4.65 per cent to 1.09 billion ringgit from 1.14 billion ringgit previously.
According to Tan Chong, which distributes Nissan vehicles in Malaysia, the decrease in revenue and net profit was due to a price war in the automotive sector, which may persist until the oversupply situation is flushed out.
Visit http://www.astroawani.com for more news.
According to Tan Chong, which distributes Nissan vehicles in Malaysia, the decrease in revenue and net profit was due to a price war in the automotive sector, which may persist until the oversupply situation is flushed out.
Visit http://www.astroawani.com for more news.