Five Petroleum founder and CEO Datuk Seri King Lim Chin Fui (right) and Afsona Group chairman Kudrat Abdullaev
KUALA LUMPUR: Five Petroleum Malaysia has forged strategic partnerships with two major energy players in Uzbekistan - Afsona Group and Uzbekneftegaz.
Its founder and chief executive officer Datuk Seri Dr King Lim Chin Fui said both collaborations aim to enhance fuel distribution and modernise energy infrastructure in Uzbekistan.
He said the memorandum of understanding between Five Petroleum and its Uzbek partners was officially signed and exchanged during the Malaysia-Uzbekistan Business Forum.
The forum was graced by the presence of the Uzbekistan President Shavkat Mirziyoyev during his two-day official visit to Malaysia from Wednesday.
Five Petroleum and Afsona Group, led by its chairman Kudrat Abdullaev, are entering into a joint venture or similar arrangement to expand their market presence.
The partnership leverages Afsona’s extensive network of 97 fuel stations and Five’s expertise in branding, technology, and operational standards to elevate fuel distribution services in Uzbekistan.
"The landmark agreement further underscores the significance of strengthening bilateral economic ties between the two nations.
“This is more than just a business collaboration. It is a testament to the strengthening of economic and technological exchange between Malaysia and Uzbekistan,” said Lim, who is also the Malaysia-Uzbekistan Business Alliance chairman.
"We are excited to partner with Afsona, who shares our vision for quality, efficiency and industry advancement.
"This collaboration will significantly enhance the customer experience," Lim added.
In addition, Five Petroleum Group is also forming a joint working group with Uzbekistan’s state-owned Uzbekneftegaz to develop multi-fuel stations (EV charging, compressed natural gas, diesel and petrol), explore core business digitalisation and assess opportunities for leasing or acquiring oil depots.
“The collaboration presents an important opportunity for Malaysia and Uzbekistan to drive innovation in the energy sector.
“By integrating Five’s advanced technology with Uzbekneftegaz’s local expertise, we will establish new benchmarks for efficiency, sustainability and convenience in energy supply.
"This represents a significant step toward achieving a future-ready energy infrastructure," he said.
Beyond fuel station development, both companies will collaborate on digital transformation in fuel retail management, optimising payment systems and exploring intelligent logistics solutions with potential investment in fuel storage infrastructure to enhance supply chain efficiency.
As one of Malaysia’s fastest-growing fuel retail brands, Lim said Five is committed to expanding its technological expertise internationally, ensuring innovation and premium service remain at the forefront of the energy industry’s growth.
During a four-eye meeting between the two countries' leaders, Prime Minister Datuk Seri Anwar Ibrahim stressed the importance of strengthening bilateral trade and investment between Malaysia and Uzbekistan, particularly in key sectors such as food technology, agriculture, semiconductors, green energy and electric vehicles.
Since the establishment of Malaysia-Uzbekistan diplomatic relations in 1992, both countries have enjoyed mutual benefits across various fields of interest.
Last year, Malaysia's total trade with Uzbekistan stood at RM369.8mil. The trade balance is also in Malaysia's favour at RM360.3mil.
