Five Petroleum Malaysia made its debut earlier this year, and has now made official launch of its Ultimaxx range of fuels and integrated.
Five Petroleum is managed by the Seng Group of companies, whose dealers also operate BHPetrol retail fuel stations, and Petronas, is the new brand’s fuel supplier.
An artificial intelligence (AI)-based payment system, which is reported to be a first in the country, will be utilized by the company, which employs license plate recognition technology to enable direct debit payments for fuel. This eliminates the need to conduct transactions with cash or physical cards, and these are integrated with a mobile app that is developed by Five Petroleum Malaysia.
Other products, such as liquid petroleum gas (LPG) and lubricants, are planned to be introduced by the brand in the future. Managing director of Five Petroleum Malaysia Datuk Seri King Lim Chin Fui, said that external parties have expressed interest in Five’s specially formulated lubricants, and the company intends to export locally-made products to overseas markets.
With the first stage set to see 30 to 40 service stations opened outside the Klang Valley, the company plans the brands to eventually have more than 200 fuel stations nationwide, and these will be opened gradually. Major cities will be made gradual entry by the brand in future phases. Lim said that with the opening of the Five retail network, the company aims to reduce the economic disparity between major cities and smaller towns.
Esso and Mobil brands were previously operated by Seng Group. The group of companies also provide operating solutions to fuel station operators, including the construction of new stations. By offering smaller and easier station setups for new entrepreneurs, Five plans to be able to create new enterprise opportunities.
