February 26, 2024

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Malaysian SME get help tapping global e-commerce market

Image Credits: CIMB, Website, Press Release

A local commercial bank and a leading e-commerce provider in Southeast Asia have entered into a partnership to help Malaysian SMEs build and scale-up their businesses in the e-commerce space.

This is part of the bank’s new three-pronged SME business proposition to provide a complete suite of financing and business solutions to its customers, comprising SME Financing (e.g., no-collateral and business property financing); SME Transact (cash management services); and SME Partners (providing services like logistics, workspace, digital connectivity, e-commerce, accounting and HR solutions).

With this partnership, SMEs in Malaysia stand to benefit from the e-commerce firm’s services, including setting up an e-commerce site, complete with a secure payment gateway, and guidance on the necessary technical know-how in starting and running an online business.

Other advantages of the e-commerce platform include fully integrated services for shipping, social and digital marketing, point of sale and last-mile fulfilment.

The CEO of the bank stated that the partnership with the e-commerce provider aims to help SMEs take advantage of global online business opportunities.

This further cements the bank’s SME Partners proposition as an ideal and easy-to-use support ecosystem for SMEs just starting out, or those looking to scale-up.

In addition to financing, SMEs can also avail themselves of the bank’s expertise, regional footprint and business networks for their development, in line with the Government’s National Entrepreneurship Policy to have 50% of Malaysia’s GDP contributed by SMEs by 2030.

The Co-Founder and CEO of the e-commerce provider stated that it is a pivotal moment to join forces with a leading bank in Malaysia to help enable businesses to go online.

The aim is to provide a level playing field for SMEs. The partnership also marks a new dawn for the e-commerce provider, now foraying into Malaysia and strengthening its presence within the digital emerging markets in Southeast Asia.

The platform has been powering e-commerce across Southeast Asia since 2014 and has rapidly expanded across the region. The company is currently operating in 13 markets and looking to enter two new markets in 2020.

In addition to the e-commerce platform, other business solutions are also available to aid SMEs in starting and running their businesses. All these form part of the CIMB SME Partners proposition, with solutions comprising of:

  • Payment, collection and courier services;
  • Connectivity
  • Digital and e-commerce solutions

Currently, various attractive promotions and offers are available to customers signing up with the e-commerce provider or any of the solutions in the bank’s SME Partners proposition and reward opportunities of up to 2.2% when customers open Business Current Account-i with the bank.

About the National Entrepreneurship Policy

According to another article, the National Entrepreneurship Policy 2030 (NEP 2030) was developed to empower the B40 group by inculcating a culture of entrepreneurship.

The Entrepreneur Development Minister stated that this is in line with the government’s aspiration to create one million jobs.

Under NEP 2030, the aim is to push for innovations involving all industries by helping to provide a better business environment for all.

The NEP 2030 is a dynamic policy that will be improvised from time to time, including through continuous engagement with all stakeholders.

The Policy, launched by the Prime Minister, outlines seven core thrusts, including generating new growth sectors, improving the labour market, and enhancing social wellbeing and social capital.

Meanwhile, in terms of innovation and usage related to aerial vehicles and autonomous drones, the ministry has initiated moves to draft a law to facilitate such innovations, involving various stakeholders including the aerospace and agriculture sectors.

PARTNER

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.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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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 www.planview.com.

SUPPORTING ORGANISATION

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.

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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. 

PARTNER

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.

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