Special libraries are undergoing some fundamental changes which require redefinition of the competencies of information professionals. The contextual variables necessitate identification of competencies in relation to the peculiarities of a situation. Some methodological improvements were also attempted to arrive at a reliable body of knowledge and skill competencies. Fifty top and middle managers of the ten largest special libraries in Malaysia were interviewed to validate competencies by using a scale indicative of the perceived extent of importance of each competency. The validated competencies have been presented in the following six areas: foundation, cataloguing, circulation, information service, collection development and serial control. Capabilities to relate information facility to the organizational mission and profile, managerial competence, effective exploitation of information technology, subject expertise, and a great deal of emphasis on service aspect figure as the most important arsenal for the future information professionals.