KUALA LUMPUR, Oct 16 (Bernama) -- FIVE, a new oil company in Malaysia with a focus on localisation, hosted an online brand launch on October 16, 2020 (Friday). Among those invited include the Minister of Domestic Trade and Consumer Affairs Datuk Seri Alexander Nanta Linggi, who was VIP at the ceremony. Under the witness of Datuk Seri Alexander and other distinguished guests, FIVE officially announced its entry into the Malaysian petrol retail industry.
 
FIVE is a new Malaysian brand. It received its operating license from the Domestic Trade and Consumer Affairs Ministry on 15 January 2020, and set up its first petrol station on 7 March 2020 in Selangor.
 
“Early this year, FIVE was in the midst of its building plans after acquiring a license, when the pandemic hit. In compliance with local regulations, FIVE had slowed down its building plans. Nevertheless, we have never stopped making progress to ensure we bring the best products and services to consumers,” said Dato’ Hj. Juhari bin Abdul Ghani, Chairman of the Board at FIVE.
 
“Our vision is to develop FIVE as Malaysia’s most competitive and promising local brand. The next step is to identify the most suitable locations in Malaysia to set up modern, high-tech, one-stop petrol stations, and provide Malaysians with the best refuelling experience,” said Dato’ Hj. Juhari.
 
“Due to factors such as population density, location, economic activities and resources, petrol retail brands rarely consider rural areas as a place to setup station. For this reason, people who live in remote areas often lack petrol supply.”
 
“FIVE is founded to address this issue. We hope to bring more petrol stations to more locations, so even residents in rural areas can enjoy the technology and convenience offered by FIVE.”
 
FIVE hopes to bring exceptional products and business opportunities to rural locations. This is expected to improve the quality of life in rural areas, contribute to the economy, and take petrol retail in Malaysia to the next level.
 
FIVE Managing Director Dato' Sri Dr King Lim Chin Fui said: “Compared to multinational companies, local brands have the upper hand in terms of understanding local needs. Therefore they are able to produce and offer products that are more suited for the local market.”
 
By purchasing locally, FIVE hopes to limit the flow of local currency outside the country.
 
As a proponent of digitisation in Malaysia, FIVE also equips every petrol station with artificial intelligence and digitised facilities, such as vehicle plate recognition.
 
WooMart, the physical convenience store at FIVE is another highlight worth noting. “We not only digitalize how the petrol retail business been done, we digitalize entire business from the cloud POS system, mobile loyalty platform and also enablement of digital payments technology which using AI,(facial and license plate recognization)- cashless payment, to bring this to whole Malaysia”, said Dato' Sri Dr King Lim Chin Fui.
 
“FIVE wishes to change society’s perception of the petrol retail industry. We have charted a brand new roadmap for interested entrepreneurs, paving an easier path by lowering the requirements for operating a petrol station,”.
 
FIVE will offer a faster and easier path for interested entrepreneurs. By lowering the requirements, more people will be able to join the petrol retail industry, ultimately benefitting consumers.
 
Datuk Seri Alexander Nanta Linggi congratulated FIVE for making its launch, and shared that FIVE will bring new energy into the local petrol retail industry, offering a new option to consumers.
 
“FIVE is a completely local brand. Its purpose is in line with the government’s call to purchase local products. This limits the flow of the ringgit outside of Malaysia, and stimulates internal demand,’’ said Datuk Seri Alexander. “The founding of FIVE can also even out the distribution of petrol stations in rural and urban areas, and bring fuelling convenience to rural residents.”
 
Following this, FIVE will go fully into operation. The company plans to set up 200 FIVE petrol stations in the country within 3 years, bringing shared prosperity to people of all races, in all locations. The goal is to move towards Industrial Revolution 4.0 together as a nation, and bring fresh prospects for the local petrol retail industry.

Source: FIVE Petroleum Malaysia Sdn Bhd
 
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--BERNAMA