Lubri Oil targets US$20.7 million in revenues

Lubri Oil Corp. Sdn Bhd, a local Bumiputera lubricant oil player, wants to capture 5% of the market share of the lubricant business in Malaysia this year and post revenues of about MYR65 million (US$20.7 million). The company’s Chief Executive Officer, Nurul Ashiqin Shamsuri, said that last year, Lubri Oil posted a turnover of MYR3 million (US$958,927.86), which was achieved without any advertising or promotional activities. “We are now aggressively going into promotions and advertising as well as roadshows nationwide. With the new strategies and roadshows, I think we will achieve the target,” she said. “Currently, we have eight state master dealers, with between 40 and 60 dealers under them. We hope to increase the number of dealers to 300 by the end of the year, especially among women entrepreneurs,” she added. According to Nurul Ashiqin, the company is also looking at the possibility of exporting its lubricants overseas, and would start exporting to countries in the Southeast Asian region next year. (July 16, 2012)