Address

Precise Investors

Sunday, July 25, 2021
Trading

Alibaba launches electronic trade platform in Malaysia

China’s Alibaba Group is to set up a trading and logistics hub in Malaysia as part of its efforts to establish an electronic world trade platform.

The e-commerce giant said the Malaysian “e-hub”, the first such initiative outside the company’s home base in Hangzhou, was being set up in collaboration with the Malaysia Digital Economy Cooperation (MDEC) agency.

It will cater to small and medium sized businesses that have ambitions of spreading their wings beyond local borders.

Alibaba’s executive chairman, Jack Ma, and the Malaysian prime minister, Najib Razak, attended the project’s launch ceremony in Kuala Lumpur on Wednesday afternoon.

The project’s first phase, slated for completion by the end of 2019, involves the development of a regional logistics hub near the Kuala Lumpur International Airport. The facility in the KLIA Aeropolis zone would “function as a centralised customs clearance, warehousing, and fulfilment facility for Malaysia and the region”, said the technology giant, the owner of the South China Morning Post.

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

1 × one =