SGshop Malaysia eyes RM10 mln in transactions in 2018
ISKANDAR PUTERI: Online shopping platform provider, SGshop Malaysia, is targeting a total purchase transactions of RM10 million next year, said its director, Lua Cheong Hong.
He said this optimism was based on the rapid growth of the e-commerce sector in Malaysia which has resulted in more consumers placing high confidence in online purchases.
Lua said this development could be seen in the values of the purchase transactions in 2015 and 2016.
“In 2015, we only recorded RM1 million in transactions, then increased to RM3 million in 2016 before further consolidating the position with a transaction value of RM5 million to-date.
“Therefore, we believe the target is achievable because until November 2017, our online customer volume was 53,000 and are expected to go up to 500,000 by 2020,” he said.
He said this to reporters after the launch of SGshop Malaysia’s new office in Medini Town here yesterday.
Malaysian Entrepreneur Development Secretariat Adviser at the Prime Minister’s Department, Teh Kee Sin, officiated the launch.
Also present was executive vice-president of Urban Development, Medini Iskandar Malaysia Sdn Bhd (MIM) Yasuhiro Nakano, representing its chief executive officer Dr James Tee.
Lua said the company believed it has huge potentials to attract investments, whether local or international, with the setting up of the SGshop office in Medini City.
“Medini is situated in a very strategic area as well as near to Singapore and as SGshop has been operating here, we are now ready to expand our business across Southeast Asia,” he said.
The company was ready to allocate RM10 million for business expansion in the country over the next five years, he said.
SGshop Malaysia, established in 2014, offers various quality products from China such as clothing, footwear, electronic equipment, beauty products, home appliances and car accessories.
In addition to Malaysia, SGshop also operates in Singapore and Myanmar and has its own procurement centre in Guangzhou, China. — Bernama SHORT-TERM interbank rates closed stable yesterday on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.
The liquidity surplus in the conventional system decreased to RM31.51 billion from RM39.07 billion billion this morning,