UMW M&E Sdn Bhd, wholly-owned subsidiary of UMW Group and Buraqoil Corp Sdn Bhd, wholly owned by IPTB Sdn Bhd, has signed a distributorship collaboration agreement, which will see it capitalize on Buraqoil's network of more than 150 independently-owned fuel service stations across Malaysia, for the distribution of UMW M&E's lubricants and auto components.
With about 60% market share, the Bumiputera-owned fuel station chain is the market leader in the country's mini fuel station segment.
The distribution of UMW M&E's reputable product offerings including its renowned lubricants brands (Grantt, Pennzoil and Repsol) as well as its auto components products will be enabled by Buraqoil's independent dealers, with its extensive network, at their outlets. The partnership, in addition to paving the way for future collaboration of joining any large tenders, will serve as the platform for both parties to further leverage on each other's strengths through joint or customized marketing and product training programs.
UMW Group said that the collaboration provides a platform for UMW to contribute towards the government's agenda to enhance economic development in rural areas, besides empowering Bumiputera entrepreneurs while encouraging them to expand their businesses through mutually beneficial partnerships. The dealers, through these partnerships, are provided with an additional income stream via a wider range of offering in their outlets which would now include UMW M&E's products. PWKD17092019