Singapore Firm to Help Malaysian Enterprises Enter E-Commerce
A Singapore firm is helping Malaysian enterprises sell their products in online markets in South-east Asia and China. The initiative involves a new tie-up between a Malaysian government agency and e-commerce solutions provider Synagie.
A unit of Synagie, which is listed in Singapore, has been appointed by the Malaysia Digital Economy Corporation (MDEC) as its cross-border partner until the end of next year.
The tie-up is part of a seller adoption programme that will accelerate the adoption of e-commerce among Malaysian businesses.
The aim is to double Malaysia's e-commerce growth rate and reach a gross domestic product contribution of RM211 billion (S$69 billion) by next year.
Synagie said the tie-up will allow it to use MDEC's nationwide network in Malaysia while its solutions "will cover the entire commerce value chain, from cross-border sales and inventory management to warehousing and fulfilment".
"This collaboration is anticipated to boost the adoption of e-commerce in Malaysia and... ultimately, raise Malaysian businesses' productivity via digital means," it added.
The firm noted that Malaysian e-commerce is projected to rise at a compound annual growth rate of 21 per cent from 2015 to 2025, to reach US$7 billion (S$9.5 billion).
Synagie has a presence in Singapore, Malaysia, Vietnam and the Philippines, and will have set up in Thailand by the end of the year.
Earlier this month, it struck a deal with WeChat solutions provider Weimob to enter China's social e-commerce market, which usually involves trading via social network services.
Synagie said it can help businesses in South-east Asia enter China's large e-commerce sector
Source : The New Paper | The Straits Times