Turbo-charged first half performance drives up earnings at Tan Chong International
Nissan and Subaru vehicle distributor Tan Chong International's half year net profit accelerated more than 2 1/2 times to HK$1.53 billion (S$250.4 million) from HK$415.5 million.
The turbo-charged performance was attributed to the following factors:
Profit margin improvement from our automotive businesses in Thailand, Malaysia, Taiwan, the Philippines and China;
A one-time capital compensation of HK$176 million for a change in the fundamental structure of business introduced by a principal; and