FIVE Petroleum Malaysia Sdn Bhd, a newly licensed and homegrown petrol company in Malaysia has officially announced the launch of its brand. The new petroleum company is set to revolutionize the local petrol industry with its first station opening for business in March, 2020 at Kalumpang, Selangor.
In ensuring FIVE’s fuel offering meets the highest quality standard, the Company has secured a supply contract from PETRONAS to be its fuel supplier.
FIVE will be managed by the same team that built 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.