PETALING JAYA: Tan Chong Motor Holdings Bhd’s (TCMH) unit is partnering with Warisan TC Holdings Bhd to form a joint venture company (JV co) Tan Chong Warisan Resources Management Inc in New York for business opportunities in the US and Canada.
TCMH announced yesterday that its sub-subsidiary TCMSC (Labuan) Pte Ltd had entered into a joint venture and operating agreement with Warisan TC’s wholly owned subsidiary MAT (Labuan) Pte Ltd.
TCMSC Labuan will hold a 51% stake in the JV co while MAT Labuan will hold the remaining 49%.
TCMSC Labuan is to provide its experience, skills and expertise in the fields of automotive, trading, manufacturing, financing, information technology and renewable energy.
Meanwhile, MAT Labuan will provide its experience, skills and expertise in the fields of tour, travel, consumer products and industrial machinery.
Source: The Sun Daily