Thursday 7 March 2024

Vincent Tan Chee Yioun, seeking to raise RM300 million to acquire Spanco Sdn Bhd.

VINCENT Tan Chee Yioun, is looking to acquire Spanco Sdn Bhd from Robert Tan Hua Choon, in a deal valued at RM300 million.

SPANCO  hold a concession to supply, maintain and manage the Government's fleet of official vehicles for a period of 15 years.  The amount of vehicles involved is estimated to be in range of  12,500 automobiles.

THE total value of the contract is about RM4.5 billion, that comes with a profit margin of between eight per cent and ten per cent.

CEKAP Urus is a unit owned by Berjaya Group and Naza Group, which was given a letter of intent when Lim Guan Eng was the Finance Minister.

VINCENT Tan Chee Yioun's suit against the Government and Spanco, face READ : being thrown out by the High Court on April 4th 2024 due to a technicality.