Grooming young traders key to nation’s oil hub goal - expert

Malaysia should cultivate local expertise in petroleum trading to compete effectively in international markets, according to maritime expert Datuk Seri Jeyenderan M. Ramasamy. Jeyenderan, CEO of Maritime Network Sdn Bhd, emphasized the need for financial institutions and industry players to support the development of skilled petroleum traders.

He proposed a six-month training programme for master's and PhD students, with monthly sessions covering financial management, KYC procedures, due diligence, and trading risks. Jeyenderan stressed that traders must also understand capital requirements, price fluctuations, and the duration of financial sustainability for cargo transactions.

He highlighted the importance of access to financing from banks and financial institutions, stating that without such support, Malaysia cannot compete in international petroleum markets. Drawing from his experience in the bunkering business, Jeyenderan noted that Singaporean traders were his primary competitors when he entered the field nearly three decades ago.

He stressed that Malaysia must strengthen its own trading capabilities to seize commercial opportunities linked to its petroleum resources. To build a pipeline of talent, Maritime Network recruits about five to 10 interns per month, immersing them in shipping operations and industry practices. Jeyenderan emphasized that collaboration among universities, industry players, PETRONAS, and financial institutions is crucial for developing the expertise and financial capacity needed to expand Malaysia's role in regional petroleum trading.