Local firms to sell Japanese lubricant
JAPANESE firm JX Nippon Oil and Energy Asia has signed agreements with two Myanmar firms to distribute its ENEOS-brand lubricant products in Myanmar.
Myanma Golden Star subsidiary MGS Lubricant began selling ENEOS lubricants in lower Myanmar on August 8, and Rainbow Bridge Distribution will be responsible for distribution in upper Myanmar, according to a press release from MGS Lubricant.
U Thein Tun, chair of Myanma Golden Star, is also chair of Myanmar Consolidated Media, which owns The Myanmar Times. MGS Lubricant said Myanmar is one of the fastest-growing markets for automotive lubricant products across ASEAN states.
The company pointed to research from industry firm Solidiance from 2013, which estimated Myanmar consumed 78 million litres of lubricant products that year and predicted yearly double-digit percentage growth in consumption.
The government’s loosening of vehicle import policy has brought a wave of mostly used cars onto Myanmar’s roads, with Japanese brands heavily favoured. And there are already over 100 brands of motor lubricant imported to Myanmar.
KC Tong, an ENEOS global marketing strategist from JX Nippon Oil and Energy’s lubricants sales and marketing department, said the company had studied the Myanmar market closely.
Many people in the country use Japanese cars, which will need standard-quality lubricant in order to be maintained for long-term use, he said. The firm will use workshops and representatives to try and educate Myanmar consumers on the importance of quality lubricant, he said.