Shah Alam, Sept 20 (Bernama) -- TCM Forklift (M) Sdn Bhd is looking to
invest another RM4 million over the next three years for its capital
requirements and expansion plan.
TCM Forklift is a new joint venture structure started in April between TCM
Corp (70 per cent), wholly-owned by Hitachi Construction Machinery Corp, and
Megdale Industry (30 per cent) for business in Malaysia.
Its president Shuichi Yoshida said the investment is for the five new
branches that would be developed across Malaysia over the next three years.
"Currently, we have two branches in Johor Bharu and Penang. We are looking
to add five more in strategic areas like Kuantan, Ipoh, Sibu, Miri
"We saw the market potential here and went into this new partnership in
Malaysia, no longer just a distributor, but embarking on a pioneer move to
directly interact with our end users in the country," he told a TCM Forklift
press conference here, today.
The joint venture is TCM''s pioneer strategic move, the first of its kind
outside Japan. Previously, Scott and English was it''s distributor in Malaysia
for over 22 years.
The joint venture has been set up with an initial investment of RM4 million.
TCM Forklift also aims to increase its market by 15 per cent over the next
five years from five per cent currently.
"We aim to provide better after-sales services to our customers. The
completion of our new branches in the next three years would also help us to
achieve the target," Shuichi said.