Petronesa Trading Sdn Bhd (“PTSB”) originally began its trading activities in fuels and lubricants under Petronesa Sdn Bhd (“PSB”) in collaboration with Mobil Oil Malaysia Sdn Bhd in early 1988. This cooperation lasted for approximately two years before ceasing on 31 December 1990, primarily due to logistical challenges.

In March 1991, PSB entered into a distributorship agreement with Petronas Dagangan Bhd. To further diversify its business activities, Petronesa Trading Sdn Bhd (“PTSB”) was incorporated on 31 March 1994, with an initial shareholding structure of 76% held by Petronesa Sdn Bhd, and 12% each held by RH Development Corporation Sdn Bhd and Parkcity Property Holdings Sdn Bhd.

In 2010, the shareholding structure was revised to 46% held by Yayasan Sarawak, 30% by Kalamars Sdn Bhd, a local Bumiputera investment company, while the remaining 24% was equally held by Parkcity Property Holdings Sdn Bhd (formerly known as Sarawak Land Sdn Bhd) and RH Development Corporation Sdn Bhd.