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Tan Chong sells stake in associate company for 249.7b rupiah

Published Wed, Sep 9, 2020 · 09:50 PM
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Singapore

TAN Chong International on Wednesday said it has disposed of its stake in associate company Tifa Finance for some 249.7 billion rupiah (S$23.2 million).

Tifa is a multi-financing company that provides leasing, consumer financing and factoring financing services in Indonesia.

Tan Chong's three wholly-owned subsidiaries - TCC, T8 Gallery, and TC Auto World - have sold their 44.5 per cent stake in Tifa to the Korea Development Bank (KDB), the group announced in a r…

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Tan Chong expects unrealised gain of HK$270 million in FY2023
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