There is a new petrol retailer in town and they are called FIVE Petroleum Malaysia Sdn Bhd. This is a brand new licensed and homegrown petrol company in Malaysia which has just officially announced the launch of its brand.
The new petroleum company’s first fuel station opening for business this March, 2020 will be at Kalumpang, Selangor. The Company has secured a supply contract from PETRONAS to be its fuel supplier.
If the fuel at FIVE is coming from Petronas and the selling price is all the same as it is controlled by the government, then what is the motivation for any vehicle driver to use a FIVE fuel station? We already know that Petronas stations offer good retail offerings inside their stores and most Petronas stations have fast food outlets connected to them and if you drive a plug-in hybrid vehicle or an electric vehicle, some Petronas stations offer charging facilities.
So, the only selling point of FIVE for now is its location where if you driving past and you need fuel then you visit a FIVE fuel station.
PRESS RELEASE: Branded Ultimaxx, FIVE aims to keep to their brand promise of providing high quality fuel, economically and more conveniently. Speaking about the brand and partnership announcement, Dato’ Haji Juhari Bin Abdul Ghani, Chairman of FIVE said, “FIVE is a unified energy company that aims to meet Malaysia’s growing demand for fuel in ways that are economically, environmentally, and socially responsible. We also want to help Malaysia reach its next milestone in development.”
FIVE will be managed by the same team that built the well known Seng Group. Established in 1971, the Seng Group is a leader in the petrol retail business for nearly five decades that supplies and manage distribution services to petrol station operators, including the construction of new stations. FIVE received the licence from the Domestic Trade and Consumer Affairs Ministry on 15 January, 2020, which marks the company’s first independent foray into the petrol retail business.
In keeping with FIVE’s true Malaysian heritage, FIVE aspires to give Malaysians a hassle-free fuelling experience by integrating next-generation technology and innovation. It will also be the petrol brand in Malaysia to offer smaller and easier station setup for new entrepreneurs, which will revolutionize Malaysia’s petroleum retail market.
This creates new enterprise opportunities for all Malaysians as it lowers the entry requirements for would-be petrol station operators. It also means stations can be opened in more remote areas, bringing much-needed fuel supply to more accessible locations. This will further boost Malaysia’s economy by providing more entrepreneurial opportunities in the market.
As part of the digital movement in Malaysia, FIVE petrol stations will feature a new mobile application that will enable cashless payment. The company also plans to integrate partnerships, rewards and loyalty features into the mobile application in a bid to capture existing market share. Such partnerships will play an integral role in their petrol station convenience stores dubbed Woo! Mart and also feed into FIVE’s soon-to-be-announced, consumer loyalty programme.
This push towards digitization is in line with the National Budget 2020 blueprint. From the budget allocation, it is evident that the government has included a strong proponent of driving economic growth via the digital economy. FIVE is set to become the digital energy company of choice among Malaysians and hope to do their bid in progressing the nation by delivering on its business plans.
