KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has been appointed sole lubricant supplier for Proton vehicles in a 10-year agreement that covers all markets Proton cars are sold.
The agreement, which sees the parties share the profit from the lubricant deal, will net Petronas a small increase in its market share of the lubricant business in Malaysia.
“The long-term partnership will allow PLI (Petronas Lubricants International) and Proton to develop and bring to market new innovative solutions in the form of products and services and explore the fullest value and potential that this partnership can bring,’’ said Petronas vice-president, oil business, Md Arif Mahmood.
The deal would see Petronas produce lubricants that are tailor-made for Proton cars and provide lubricants technical service support for Proton’s global network.
Proton Holdings Bhd managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir said in a media briefing that the deal with Petronas would see the national oil company supplying 1.4 million litres of lubricants to Proton annually.
However, that amount was projected to rise to two million litres in two to three years after the agreement kicked off, he said.
He said the lubricants would carry Petronas branding and there was big potential for the sale of lubricants in the after-market business.
Petronas president and CEO Tan Sri Mohd Hassan Marican said the lubricant market in Malaysia stood at 260 million litres a year and Petronas’ share of that was 21% to 22%.
It has penetrated markets in North America, South America, Africa, Europe, the Middle East and the Asia-Pacific.
Meanwhile, Hassan declined comment on the status of his contract, which expires in February, saying it was a decision for the Government to make.
However, Petronas adviser Tun Dr Mahathir Mohamad scoffed at a question whether a politician should be appointed to the top position at the national oil corporation.
“Some of the top politicians have been making a mess of our economy,’’ he said. “Do you want them to make a mess of Petronas?’’
originally appeared on: thestar
0 comments:
Post a Comment
Leave us your comment