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BOUSTEAD:
RM50 MILLION A YEAR ON NEW PETROL STATIONS
by Kevin Tan
Boustead Holdings Bhd will
invest about RM50 million a year in new petrol stations to
add to its current network of 245 petrol stations, its group
managing director Tan Sri Lodin Wok Kamaruddin said.
"We hope to expand by 10 to 15
stations every year," Lodin told reporters in Kuala Lumpur
yesterday after the unveiling of the country's latest
petroleum network under Boustead Petroleum Marketing Sdn Bhd
and its corporate image.
The event was officiated by
Minister of Domestic Trade and Consumer Affairs Datuk Haji
Mohd Shafie Apdal.
Lodin said Boustead Petroleum
may expand into Sabah and Sarawak "within this one to two
years".
He said it would spend RM30
million in the re-branding exercise of all the 245
former BP petrol stations following the company's
acquisition of 70% stake in BP Malaysia Sdn Bhd from BP.
"Even though under the
acquisition agreement Boustead is allowed to use the BP
brand image for a full year, we have decided that the new BP
would be re-branded and have its own identity as early and
as quickly as possible," he said.
Under the exercise, the old
yellow and green BP petrol stations would be transformed
into orange and yellow-colored stations.
The whole exercise would take
another six to nine months to be completed, Lodin said.
"Boustead Petroleum will be
undertaking an aggressive brand communications and marketing
initiatives to enhance awareness and solidify positive
top-of-mind recall for our offerings," he said.
Besides launching a new image,
Boustead Petroleum also introduced new light weight
liquefied petroleum gas bottles and a new lubricating oil,
which would be in the market within the next two weeks.
"Looking ahead, we are confident
that we will grow this business even further by tapping on
business synergies between existing trading activities of
the Boustead group, the marketing and sale of
petroleum products as well as the effective utilisation of
the group's existing land banks," Lodin said.
On the competitiveness of the
new stations, he said the company hopes to improve its
service to its customers.
"We are fortunate that the BP
stations are located in urban areas," he said.
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