KUALA LUMPUR: Shell Malaysia Trading Sdn Bhd is targeting to open 20 new outlets this year, bringing the total number of its petrol stations to almost 850.
Currently, it has 830 outlets in operation but managing director Mohzani Abdul Wahab said a few would be closed this year, especially certain smaller outlets with leases expiring.
“We have a 36% market share in Malaysia, and we hope to sustain our turnover growth in line with the gross domestic product, at 5.5% this year,” he told reporters at the launch of Shell’s new Fuel Economy Formula, an energy-efficient petrol.
He said sales slowed in the month after the hike in petrol prices was announced in February.
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Shell Managing Director, Mohzani Abdul Wahab at the Shell Fuel Economy launch together with a model posing as a cowboy. |
“Business was slower in March but that was just an initial reaction to the announcement. It has since recovered a bit as customers have adjusted their purchasing behaviour in relation to the price hike. These days, people are cautious about spending more money on fuel, and they will not travel unnecessarily,” he said.
On the new Fuel Economy formula, Malaysia is the first Asian market to introduce it, and Mohzani expects it to become “the bread and butter of the business, at over 50% of total revenue.”
Replacing the Better Mileage formula, it will be offered in Shell’s main grade petrol, Shell Super.
The new formula will be available at Shell petrol stations beginning today.
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