Tan Chong falls 2.22% on disappointing 3Q earnings

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KUALA LUMPUR (Nov 27): Shares in Tan Chong Motor Holdings Bhd fell 2.22% at mid-morning today after the group announced that its net profit for the third quarter of financial year 2019 (3QFY19) plunged 71.9% to RM9.25 million on weaker sales experienced, from RM32.86 million last year.

At 10.17am, Tan Chong's share price fell 3 sen to RM1.32, for a market capitalisation of RM887.04 million.

Its quarterly revenue dropped 33% year-on-year to RM1.05 billion from RM1.57 billion.