Five Petroleum Malaysia has officially been launched, the introduction broadcast on Facebook in a ceremony that was recorded before the latest conditional movement control order (CMCO) had taken effect. The latest petroleum brand to enter the Malaysian market opened its first station in Kalumpang, Selangor on March 16, in line with the debut of its Ultimaxx range of fuels and integrated Woo! Mart convenience store.
Managed by the Seng Group of companies, whose dealers also operate BHPetrol outlets, Five Petroleum announced in March that it had secured a contract with Petronas, which would be the new brand’s fuel supplier.
The company said it will be utilising an artificial intelligence (AI)-based payment system, which was a first in the country. The system employs license plate recognition technology to enable direct debit payments for fuel, thus doing away with the need to conduct transactions with cash or physical cards.
The electronic know-your-customer (e-KYC) technology is provided by Green Packet, which is an online process that identifies the station’s customers, e-wallet, payment gateway as well as vehicle license plates. This will also be integrated with a mobile app developed by Kiple that will offer rewards and loyalty features. The Setel mobile app used by Petronas is one such application of the KiplePay platform.
The petroleum brand will also introduce other products in the future, such as liquid petroleum gas (LPG) and lubricants. External parties have shown interest in Five’s specially formulated lubricants, and the company intends to export locally-made products to overseas markets, said managing director of Five Petroleum Malaysia Datuk Seri King Lim Chin Fui.
The company anticipates that the brand will eventually have more than 200 fuel stations nationwide, and these will be opened gradually, with the first stage to see 30 to 40 stations opened outside the Klang Valley. The brand said it will eventually enter major cities in future phases. With the opening of the Five retail network, the company aims to reduce the economic disparity between major cities and smaller towns, Lim said.
Established in 1971, Seng Group operated Esso and Mobil stations when the brands were present in Malaysia, and the group of companies also provide operating solutions to petrol station operators, including the construction of new stations. Five said that it would be able to create new enterprise opportunities by offering smaller and easier station setups for new entrepreneurs.