Petromin expands its footprint to Malaysia

Petromin expands its footprint to Malaysia

Jeddah, Saudi Arabia: Petromin Corporation (“Petromin”), a leading Saudi company in advanced lubricants, automotive technology, multi-modal mobility, multi brand dealership and sustainable transportation segment, has entered a joint venture with the innovative business conglomerate, DRB-HICOM Berhad – forerunners in the automotive manufacturing, assembly, and distribution industry of Malaysia.

Petromin shares this collaboration by way of a ‘Joint Venture Company’ with DRB-HICOM Berhad’s wholly owned subsidiary, Edaran Otomobil Nasional Berhad (“EON”), with 49% holdings in the name of Petromin Corporation.

This collaboration will bring forth, Petromin’s trusted expertise and track record in fast fit aftersales, coupled with DRB-HICOM and EON’s industry capabilities and presence, in the automotive value chain to capture Malaysia’s growing aftersales market.

The Joint Venture was inked by Kalyana Sivagnanam, Petromin Group CEO, and Akkbar Danial, EON CEO, whilst Sanjay Nigam, Managing Director, India & SE Asia for Petromin, Richard Hollands, Group CFO Petromin, and Dato’ Sri Syed Faisal Albar, DRB-HICOM Group Managing Director, attended the occasion with other senior management. This collaboration introduces Petromin Express, a subsidiary of Petromin Corporation, through EON, a subsidiary of DRB-HICOM Berhad, in the aftersales services market of Malaysia.

Commenting on the partnership, Mr. Sivagnanam said, “Petromin actively seeks to collaborate with likeminded industry leaders around