simple steps to be a petronas licensed vendor

Step 1: Incorporate A Company.

A Privately Held (or Sendirian Berhad) company is a minimum company level to allow you to get registered with PETRONAS where enterprise is not eligible and the company must be registered with Companies Commision of Malaysia or Suruhanjaya Syarikat Malaysia (SSM).

Either new breed or well-established company will not be an issue and minimum paid-up capital is RM10,000 (for Registration) and RM100,000 (for License).

What is the difference betweem “Registration” and “License”?

Basically Licensed company will cover more markets (downstream and upstream) includes (not limited to) PETRONAS, it’s subsidiaries and other Petroleum Arrangement Contractors (PACs) whilst for Registrated company, limited to PETRONAS & it’s subsidiaries only (and within downstream only).

However, in reflection to Standard Works & Equipment Category (SWEC) code, there are an extensive nuumber of SWEC listed for Registration companies. Thus, for a start, obtaining  the status of Registration company is ample to commence the business with PETRONAS. Overtime, when the business grows to some extent, the company will opt to upgrade to License.

Step 2: Make Payment of Fee

There are fees that need to be paid to PETRONAS (on top of our consultation fee) based on the company’s paid up capital.

The validity of the license is based on the establishment of the company, where TWO (2) years the new company (less than 18 months) and THREE (3) years for established one. Management account will be required for company without audited report (operate in less than a year) and minimum of THREE (3) years audited report for the established (or not more than 1 year audited report).

Step 3: Apply for SWEC

There are thousands of SWEC can be applied based on capability and core business of certain companies. It’s best to have a generic company name if you plan to cover a diverse business industry. Be it for services or products, SWEC are classified either general or strategic. General SWECs have no pre-requisite as compared to strategic SWECs, which is known as Minimum Technical Requirement (MTR). There is no excuse for a company to fulfill the MTR before being allowed to apply for strategic SWEC.

Get Optimized!

Don’t get messed up with all the steps where PETROLICENSE are able to diagnose, pre-evaluate & assist you to obtain the approval. There are few other procedures you should consider and just let us handle it. Things you need are just give us a call and we will start to assist you and be a PETRONAS vendor today!