In a filing on Monday morning, Synagie says wholly-owned subsidiary, Synagie Sdn Bhd has been appointed by Malaysia Digital Economy Corporation (MDEC), a government agency under the Ministry of Communications and Multimedia, to be the cross-border e-commerce initiative partner for its National eCommerce Strategic Roadmap Seller Adoption Program 2019-2020, with immediate effect till Dec 31 2020.
MDEC is the Malaysian government’s lead agency responsible for driving the digital economy in Malaysia and manages initiatives such as the Digital Free Trade Zone.
MDEC, together with the Ministry of International Trade and Industry, head the National eCommerce Strategic Roadmap, a government initiative developed to accelerate the adoption of e-commerce among Malaysian businesses with the goals of doubling Malaysia’s e-commerce growth rate and reaching a GDP contribution of RM211 billion ($69.1 billion) by 2020.
Synagie says the partnership will enable it to leverage on MDEC’s nationwide network in Malaysia to offer its e-commerce enablement solutions to businesses there to help them speed up e-commerce adoption and seamlessly sell their products to e-commerce markets in Southeast Asia and China via Synagie’s network.
“Synagie’s end-to-end solution 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 increase the country’s cross-border e-commerce revenue, ultimately raising Malaysian business’s productivity via digital means,” the group adds.
Shares in Synagie closed 0.4 cent higher at 15 cents on Friday.
Source: The Edge Markets