Five Petroleum Malaysia Sdn Bhd has announced the launch of Five, a new petrol brand in the country. It aims to revolutionise the local petrol industry and it will feature a mobile app that offers cashless payments.
The newly licensed and homegrown petrol company aims to offer smaller and easier station setup for new entrepreneurs. This could possibly mean a lower barrier to entry compared to other mainstream petrol brands. As a result, more stations can be opened in more remote areas, making fuel supply more accessible. According to Five, this could further boost Malaysia’s economy by providing more entrepreneurial opportunities in the market.
Managed by the same team as Seng Group
The team behind Five isn’t new in the petrol industry. The company is managed by the same team that built Seng Group, which has been in the petrol retail business for almost 50 years. The group was established in 1971 as a Mobil petrol station operator in Mentakab, Pahang and now its business covers commercial fuel supplies, petroleum product transportation, property development and oil palm business.
Its fuel products will be branded Ultimaxx and Five’s brand promise is all about providing high-quality fuel, economically and more conveniently. Chairman of Five, Dato’ Haji Juhari Bin Abdul Ghani 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 to offer digital payments
To ensure that its fuel meets the highest quality standards, Five will be getting its supply from Petronas. On top of that, Five will also adopt digital technologies including a new mobile application that will enable cashless payments which could be somewhat similar to Setel.
The app will also integrate partnerships, rewards and loyalty features. Some of the partnerships include their very own convenience stores that are called Woo! Mart and a new customer loyalty programme which will be revealed soon.
The first petrol station is located at Kalumpang, Selangor, which is close to Tanjung Malim in Perak. It is scheduled to be open for business in March 2020.