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BOUSTEAD TO
RE-BRAND BP STATIONS
by Chong Jin Hun
Diversified entity Boustead
Holding Bhd will spend some RM30 million to re-brand the 245
BP petrol stations in Malaysia to realise its goal of
becoming a key player in the downstream of petroleum sector.
The re-branding process which
would involves changing the British-based BP brandname to
BHPetrol, may take up to nine months, said Boustead group
managing director Tan Sri Lodin Wok Kamaruddin. Boustead,
whose other businesses include plantations and properties,
owns the refuelling stations by virtue of the group's
acquisition of a 70 per cent stake in BP Malaysia Sdn Bhd
for US$120 million (RM446.4 million) in February 2005.
Boustead's parent Lembaga Tabung
Angkatan Tentera holds the balance 30 per cent of BP
Malaysia, which has been renamed as Boustead Petroleum
Marketing (M) Sdn Bhd to reflect the new ownership.
"We are highly bullish on the
downstream petroleum business which has already positively
impacted the group's bottom line," Lodin told reporters at
the launch of Boustead Petroleum's new corporate identity in
Petaling Jaya yesterday.
Also present were Domestic
Trade and Consumer Affairs Minister Datuk Mohd Shafie Apdal
who officiated at the event and Boustead chairman Tan Sri
Mohd Ghazali Che Mat.
Looking ahead, Lodin said,
annually, Boustead Holdings plans to establish in the
country between 10 to 15 BHPetrol stations, which feature
their signature orange color, replacing their predecessor's
green and yellow.
The petrol pumps' setting-up
cost is expected to reach up to RM50 million, he added.
As the existing 245 stations are
located entirely in Peninsular Malaysia, the group intends
to introduce BHPetrol in Sabah and Sarawak within two years.
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