After an initial announcement early this year, FIVE the all new petrol station company is finally taking steps to launch more stations in the coming days. The company 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,” added Juhari.
FIVE aims to fill gaps where other petrol stations often miss out, for instance due to factors such as population density, location, economic activities and resources, rural areas are usually not commercially viable to setup a station, people who live in remote areas often lack petrol supply.
The new stations will be addressing these issues, FIVE which is owned by SengGroup who has a diversified portfolio under their belt including property, oil and gas, plantations and much more hopes to bring new products and business opportunities to rural locations.
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.”
As Covid-19 shows the need to be more technologically equipped, FIVE stations will be using artificial intelligence and digitised facilities, such as vehicle plate recognition to give customers ease in filling their tanks. The physical convenience store is fully digitalised, with cloud POS system, mobile loyalty platform and accepts digital payments technology using AI,(facial and license plate recognization)- cashless payment.
The company plans to set up 200 FIVE petrol stations in the country within 3 years, entrepreneurs are encouraged to venture into the petrol station business with the company who is inviting interested parties to reach out.