Five, a new oil company in Malaysia launced yesterday with a focus on localisation, hosted an online brand.
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 Datuk Juhari 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,” he said.
Meanwhile, the Managing Director of Five, Datuk Seri Dr. King Lim Chin Fui said, local brands have the upper hand in terms of understanding local needs compared to multinational companies.
“Therefore they are able to produce and offer products that are more suited for the local market,” he said.
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.