Japanese majority-owned TCM Forklift (M) Sdn Bhd wants to invest another RM4 million (USD1.28 million) over the next three years as part of its expansion and capital requirement.

Malaysian paper The Sun quotes TCM Forklift president S Yoshida saying the sum is on top of the initial RM4 million (USD1.28 million) investment that funded the set-up of the business and the working capital.

The company, which started operations in April, is a joint venture between TCM Corp Japan, which has a 70% stake, and Megdale Industries Sdn Bhd, which holds the remaining 30% (Forkliftaction.com News #531).

TCM Corp is owned by Hitachi Construction Machinery Corp. The joint venture company will focus on selling new and used forklifts and providing parts, forklift rental and leasing and after-sales service.