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Tan Chong posts 20% increase in FY18 earnings to $103.4 mil despite lower sales

Samantha Chiew
Samantha Chiew3/27/2019 6:25 PM GMT+08  • 2 min read
Tan Chong posts 20% increase in FY18 earnings to $103.4 mil despite lower sales
SINGAPORE (Mar 27): Tan Chong International, the distributor and dealer of motor vehicles, saw a 19.7% in full-year earnings to HK$600.9 million ($103.4 million) in FY18 from HK$510.9 million in FY17.
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SINGAPORE (Mar 27): Tan Chong International, the distributor and dealer of motor vehicles, saw a 19.7% in full-year earnings to HK$600.9 million ($103.4 million) in FY18 from HK$510.9 million in FY17.

FY18 revenue fell 1% to HK$15.7 billion from a year ago, mainly due to lower sales volume in its motor vehicle distribution and retail division.

In Singapore, the group experienced a 15% slowdown in revenue in 2018 as lower COE quota and stricter emission standards impacted its Nissan and Subaru businesses in Singapore.

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