FIVE Petroleum Malaysia Sdn Bhd, a prominent player in the Malaysian energy sector, partook in a memorandum of understanding (MoU) with several key economic bodies in Uzbekistan recently.
The MoU aims to explore joint ventures, enhance technological exchange and promote sustainable energy practices among the signatories.
Its founder and chief executive officer Datuk Seri Dr King Lim Chin Fui said the collaboration underscores Five Petroleum's commitment to expanding its footprint and contributing to global energy solutions.
"This is a significant milestone in our international expansion strategy. "It is the right time for Malaysian entrepreneurs and enterprises to explore the burgeoning business opportunities in Central Asia," he said.
Lim was part of the official Malaysian delegation to Kyrgyzstan and Uzbekistan several days ago, led by Prime Minister Datuk Seri Anwar Ibrahim.
The delegation included high-ranking officials and business representatives, reflecting Malaysia's dedication to strengthening bilateral relations and exploring new economic opportunities in Central Asia.
The exchange of the MoU was held on the sidelines of the Malaysia-Uzbekistan Business Forum in Samarkand.
The business forum brought together key business leaders and government officials from both countries to discuss and foster economic collaboration.
Lim said one of the pivotal discussions during the forum was the initiation of a Malaysia-Uzbekistan Business Council. He said the council will consist of enterprise leaders from both countries and will serve as a platform to facilitate business collaboration and mutual growth.
"By fostering close ties between the business communities, the council aims to identify and capitalise on potential opportunities for trade, investment and technological exchange.
"Central Asia presents a wealth of untapped opportunities, business matching and partnerships.
"In addition, it can assist in bridging our business communities and fostering mutually beneficial ventures," he said.
During the working visit, Lim engaged in high-level discussions with Uzbekistan senior officials, focusing on strategic energy partnerships and investment opportunities, paving the way for enhanced economic cooperation and mutual growth.
Lim also said such engagements are important in fostering sustainable development and innovation within the energy sector.
"Our participation in the business forum underscores our commitment to exploring new frontiers and building strategic partnerships.
"We are excited about the opportunities these collaborations will bring, not only for Five Petroleum but also for the local economy," he said.
With a rapidly growing network of petrol stations across Malaysia, Five Petroleum is committed to sustainability, customer satisfaction and contributing to the nation's energy security.
