KUALA LUMPUR, 13 September 2019 – UMW M&E Sdn. Bhd. (UMW M&E), a wholly-owned subsidiary in the UMW Group, has inked a distributorship collaboration agreement with Buraqoil Corporation Sdn. Bhd. (Buraqoil) which is wholly owned by IPTB Sdn. Bhd.
Through this collaboration, UMW M&E will tap into a niche market through Buraqoil’s network of more than 150 independently-owned petrol stations across nine states, including Sabah and Sarawak. The Bumiputera-owned petrol station chain has about 60% marke share and is the market leader in mini petrol station segments.
Buraqoil’s independent dealers will assist the distribution of UMW M&E’s reputable product offerings encompassing its renowned lubricants brands (Grantt, Pennzoil and Repsol) as well as its auto components products (GEP) at their outlets.
The partnership will serve as the platform for both parties to further leverage on each other’s strengths through joint or customized marketing and product training programmes, besides paving the way for future collaboration of joining any large tenders.
The collaboration provides a platform for UMW to contribute towards the government’s agenda to enhance economic development in rural areas and to empower Bumiputera entrepreneurs while encouraging them to expand their businesses via mutually beneficial partnerships. These partnerships will help dealers by providing them with an additional income stream via a wider range of offering in their outlets which now includes UMW M&E’s products.