Survey Reveals Budget Consciousness as Key Driver of Online Cart Abandonment
A YouGov survey commissioned by commercetools reveals that budget-consciousness prompts online shoppers to abandon their carts, with shipping costs and the search for better deals cited as the top reasons. The study underscores the significance of financial considerations across income ranges, with recommendations for retailers to invest in technology, loyalty programs, and personalized experiences to combat cart abandonment during...
X-PITCH 2023 Concludes with Million-Dollar Investments and Deeptech Triumphs
The X Games for Startups, X-PITCH 2023, concluded with ten finalists showcasing groundbreaking ideas. Four deeptech startups emerged as winners, securing a total investment of US$1 million. The event featured unconventional semi-finals on Singapore River bumboats, pushing the boundaries of startup competitions. Gratitude is extended to supporting organizations and sponsors, reaffirming X-PITCH’s commitment to fostering...
Survey Reveals 90% of Malaysian Sellers Choose Shopee for a Secure Online Business Environment
Shopee dominates as the preferred platform for 90% of Malaysian online sellers, according to a recent survey, showcasing the significant trust sellers place in its commitment to online safety. The survey highlights tangible benefits, including the protection of brand reputation and savings on potential liabilities, reinforcing Shopee’s status as a secure haven for e-commerce businesses. 9 November 2023 – In a recent survey...
Optimal Employee Experience in Malaysia Declines, Says Qualtrics’ 2024 Report
The Qualtrics 2024 Employee Experience Trends Report reveals a decline in several key indicators of an optimal employee experience in Malaysia, including employee engagement, well-being, and intent to stay. The report also highlights a preference among Malaysian employees for spending two to four days in the office, as well as a willingness to embrace AI assistance in the workplace. 8 November 2023 – The Qualtrics 2024 Employee...
Malaysia Digital Expo Grand Finale Marks a Pivotal Step in Digital Transformation with Launch of DATA Program
The Malaysia Digital Expo (MDX 2023) Grand Finale, launched by the Ministry of Communications and Digital (KKD) and Malaysia Digital Economy Corporation (MDEC), is set to drive digital transformation in Malaysia. The event, featuring renowned speakers, celebrates digital innovation, and includes the announcement of the Digital Agriculture Technology Adoption (DATA) program. 7 November 2023 – The Ministry of Communications and...
Malaysia Seeks Foreign Investors in High-Value Industries, Focusing on Electric Vehicles and Semiconductors
Malaysia is actively courting foreign investors in high-value sectors, with a strong focus on electric vehicles and semiconductors, aiming to elevate its industries and move up the value chain. The country’s expertise in semiconductor chips and its plans to expand into integrated circuit design make it a key player in the global supply chain, while also exploring opportunities in carbon capture, aerospace, petrochemicals,...
South Korea’s Online Shopping Soars in September Fueled by Travel and E-Coupon Services
South Korea’s online shopping sector saw a remarkable 9.6% growth in September, with strong demand for travel, e-coupon services, and food contributing to the surge. The data revealed significant increases in online transactions for these categories, with mobile shopping through smartphones also on the rise, indicating changing consumer preferences and the continued growth of e-commerce in the country. 4 November 2023 –...
Indonesia Exempts Books, Films, and More from $100 Import Ban on E-commerce
Indonesia has excluded books, films, software, and music from its $100 import ban on e-commerce platforms, aiming to accommodate specific goods. This decision impacts the country’s vibrant e-commerce market, with a significant population that embraces online shopping and transactions. 2 November 2023 – Indonesia has decided to exempt books, films, software, and music from its recent ban on the import of products priced...
Southeast Asia’s Digital Economy Thrives Amid Global Headwinds, Poised to Reach $218 Billion in Transactions
Southeast Asia’s digital economies are defying global macroeconomic challenges, with a projected total transaction value of $218 billion this year, an 11% increase from the previous year. The region’s digital economy is experiencing significant growth, especially in terms of revenue, as companies shift their focus towards profitability. 2 November 2023 – A new report jointly conducted by Google, Temasek, and Bain...
Petronas Awards FutureTech 3.0 Honors to APAC Green Tech Start-ups
Petronas, the Malaysian national oil and gas company, has recognized five innovative green tech companies in the Asia-Pacific (APAC) region through its FutureTech 3.0 Awards. These awards highlight the importance of electric vehicle solutions and sustainable energy ventures, and the winners will participate in an APAC immersion program to foster innovation and collaboration in the green technology sector. 1 November 2023 –...
Vircle Raises Seed Funding to Expand Innovative Cashless Payment Platform for Children
Vircle, a Malaysian fintech, has secured seed funding in a round led by Gobi Partners and Kumpulan Modal Perdana (KMP) to expand its child-centric cashless payment platform. Vircle’s child-safe Visa prepaid card, which empowers parents to oversee their child’s expenses, aims to introduce millions of children in Southeast Asia to the cashless and digital banking world, promoting financial responsibility. 1 November 2023...
AIOX Apex Angel Fund Joins Forces with X-PITCH 2023 to Fuel Deeptech and Web3 Innovation
AIOX Apex Angel Fund has unveiled a new venture fund focused on supporting deeptech and web3 startups. The firm has entered into a strategic partnership with X-PITCH 2023, a global startup competition, to accelerate technology adoption across various industries. 26 October 2023 – AIOX Apex Angel Fund (AIOX) has emerged from the shadows, unveiling an ambitious venture fund geared towards empowering innovators in deeptech and...
DSAM and Lazada Forge Alliance to Elevate Direct Selling Integrity on E-commerce Platform
DSAM and Lazada have joined forces to regulate direct selling on the e-commerce platform, allowing only authorized distributors with LOAs to promote products. This collaboration aims to enhance transparency, build consumer trust, and maintain product quality. 26 October 2023 – In a significant collaborative effort, the DIRECT Selling Association Malaysia (DSAM) and e-commerce giant Lazada have inked a pivotal Memorandum of...
Unlock RM5000 MSME Digital Grant MADANI: Join the Webinar for Malaysian Businesses
VeecoTech Solutions and Digital Penang have joined forces to present a crucial webinar on the RM5000 MSME Digital Grant MADANI, a government initiative aimed at supporting the digital transformation endeavors of Malaysian Micro, Small, and Medium Enterprises (MSMEs). The webinar, featuring expert speakers, will cover grant eligibility, application processes, and ways to avoid common rejection factors, offering valuable insights to...
Malaysia Scores RM600 Million Investment and RM330 Million in Exports in UAE Mission, Reinforcing Digital Leadership
Malaysia’s Ministry of Communications and Digital, in partnership with MDEC, secured a remarkable RM600 million investment and RM330 million in export opportunities during a mission to the UAE. These accomplishments validate Malaysia’s growing digital capabilities and affirm investor confidence in the nation’s robust digital framework. 19 October 2023 – The Ministry of Communications and Digital (KKD) in...
BizApp and Ninja Van Join Forces to Redefine Deliveries with VIP LANE Service
BizApp, in collaboration with Ninja Van, introduces the BizApp VIP LANE, offering its users streamlined delivery services and exclusive pricing benefits. This strategic partnership aims to transform how entrepreneurs manage their deliveries and is poised to establish a network of 300 BIZAPP VIP LANE PUDO points across Malaysia, starting with 50 in the Klang Valley. 18 October 2023 – BizApp users who rely on Ninja Van courier...
DHL Supply Chain Invests €350 Million in Southeast Asia to Expand Warehousing and Sustainability Initiatives
DHL Supply Chain is investing €350 million in Southeast Asia over the next five years, expanding warehousing capacity, workforce, and sustainability efforts. The investment reflects DHL Supply Chain’s commitment to meet the evolving needs of its customers in the region, enhance digitalization and automation, and champion sustainability in its operations. 17 October 2023 – DHL Supply Chain, a global leader in contract...
Malaysia’s Budget 2024 Unleashes Digital Economic Potential with Strategic Investments and Support Initiatives
Malaysia’s Budget 2024, under the theme ‘Economic Reform, Empowering People,’ aims to fuel the country’s digital economy with significant investments in AI research, support for game developers, and initiatives for micro, small, and medium enterprises (MSMEs). These measures align with the government’s goal of transitioning Malaysia into a regional digital economic powerhouse, offering growth and...
Malaysia Invests RM28 Million in MyStartUp to Propel Local Startups into High-Growth Sectors
The Malaysian government has allocated RM28 million to enhance MyStartUp, a platform aimed at unifying and supporting local startup companies throughout their lifecycle. This initiative aligns with the government’s focus on digital transformation and the Fourth Industrial Revolution (4IR). Additionally, Government-Linked Companies and Investment Companies have committed up to RM1.5 billion in funding to encourage startups to...
Malaysia’s ICT and E-Commerce Sectors Thrive, Contribute RM412.3 Billion to Economy in 2022
Malaysia’s Information and Communications Technology (ICT) and e-commerce sectors have experienced remarkable growth, contributing RM412.3 billion to the economy in 2022, marking a substantial 14.8% increase from the previous year. The Gross Value Added ICT Industry (GVAICT) and e-commerce played significant roles in this growth. Employment in the ICT industry also increased, emphasizing the importance of the technology-based...
