Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Malaysian E-Commerce Sector Predicted to Grow Up to 30% in 2020

Malaysia E-Commerce Sector Growth

The local e-commerce industry in Malaysia is expected to grow up to 30% next year, supported by advancement in technology and wider access to virtual buying platforms.

A leading expert in e-commerce stated that the positive growth of the industry will also be driven by government initiatives to expand the country’s broadband across rural areas.

Malaysia is currently seeing a growth in the number of people making purchases online and trusting e-commerce sites. In addition, there are increasing numbers of merchants who are starting to sell their products online.

Accessible facilities to rural areas also provide opportunities for most Malaysians to shop digitally, thus enabling the e-commerce industry to grow rapidly.

In addition, the government’s initiative on e-wallets will be another factor that will drive growth and enable the development of a secure and seamless e-commerce industry.

Improved logistics capabilities and growth from the small and medium enterprise (SME) segment will also encourage the industry to maintain its expansion trajectory.

SMEs are getting better at selling their products online. They are getting smarter and spending on the right avenues such as digital marketing and influencers, the expert noted.

Meanwhile, online banking e-commerce transactions have achieved an inflection point in Malaysia.

This is why experts foresee a trend of more people buying local products on e-commerce platforms in 2020. In addition, it is expected that there will be an increased number of consumers from rural areas.

FPX MyCyberSale Asia generated a 20% increase in growth, with a gross merchandise value (GMV) of RM392 million and RM2.8 billion in online banking transactions.

The Chairman of the National Tech Association of Malaysia stated that the sale also saw 1,510 registered merchants and the inclusion of Taiwan as the first country pavilion of MyCyberSale, which had paved the way for regional participation.

In 2018, the e-commerce industry’s revenues stood at RM115 billion with a compound annual growth rate (CAGR) of 11%. From that value, over 20 million online shoppers were direct contributors.

The government, in turn, has consistently given its full support to boost Malaysia’s e-commerce industry.

This is evident in the measures that the government has undertaken via the National E-commerce Strategic Roadmap. In fact, all these moves have positively impacted the CAGR.

The export GMV for the MyCyberSale also rose by 38%, contributed by transactions from travel, fashion and entertainment categories that served 35 countries – a good indication that merchants are seeing the importance of cross-border e-commerce.

The Commerce Development Research Institute of Taiwan has brought in more than 60 Taiwanese merchants, representing 2,400 brands and it sold over 35,000 products within that 10-day period.

One firm, through its network of banks, has also secured the participation of 30 banks and introduced seamless cashless payments for all merchants that joined MyCyberSale this year.

MyCyberSale, established in 2014 by Malaysia’s e-commerce ecosystem, has opted to be more regionally focused this year.

Malaysia’s Prime Minister stated that the country should impose an e-commerce tax against online businesses, given how their growth presently exceeds that of businesses utilising ‘traditional’ models such as physical retail stores, OpenGov Asia reported earlier.

The PM noted that governments have been collecting “less tax” as many brick-and-mortar stores have been shutting down, as many goods can be bought online now.

Online business is affecting other businesses. Through direct-selling, less tax is obtained, also the tax goes to the country where the product is generated, and Malaysia is not able to make anything, he said.

The PM noted that taxation will assist governments in gauging the amount of profit being made by online businesses.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.