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Combined with Tokopedia, ByteDance group takes second spot in $114bn market TikTok has become a “very relevant player” in Southeast Asia’s e-commerce sector, the CEO of Singapore-based consultancy Momentum Works says.   © Reuters TikTok, the viral short video app owned by China’s ByteDance, is becoming one of the largest e-commerce platforms in Southeast Asia, aRead more

The adoption and usage of e-commerce and mobile wallet industries among Malaysians have seen a notable increase in 2023 compared to the years before, according to the latest survey findings released by Ipsos Malaysia. This shows growing confidence in the digital economic industry, the local chapter of global market researcher Ipsos said of the findingsRead more

Tripoli: Boosting Malaysia-Lebanon Trade Ties On 25 June 2024, Ambassador Azri attended a pivotal Hybrid Engagement Session on Malaysia-Lebanon Trade and Investment Opportunities at the Chamber of Commerce in Tripoli, Lebanon. The event aimed to enhance bilateral economic ties & featured remarks from key officials, including Mr. Toufic Dabbousi, President of the North Lebanon ChamberRead more

The retail industry grew by 2.7 per cent in the July-September period from the previous year to beat expectations amid concerns over inflation and declining purchasing power as the ringgit continued to slide against the greenback. “This latest quarterly result was above market expectation,” Retail Group Malaysia (RGM) said in its November industry report releasedRead more

Malaysia is expected to benefit from the electronics recovery in the second half of the year (2H24), given its position further down the electronics value chain, said Oxford Economics. NSTP/AIZUDDIN SAAD Malaysia is expected to benefit from the electronics recovery in the second half of the year (2H24), given its position further down the electronicsRead more

The government is confident that Malaysia’s position in the IMD’s World Competitiveness Ranking 2025 will improve compared to this year, driven by the increase in high-technology product exports. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the reduction in the country’s high-technology exports had influenced Malaysia’s lower positioning in the IMDRead more

Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz said while Malaysia strives to position itself as a preferred investment destination, it also needs to work with neighbouring countries and propel the region as a whole. ― Bernama pic Malaysia and Singapore, together with the rest of Asean, must collaborate to harnessRead more

Experts said the Malaysian government has taken steps that have resulted in a stronger ringgit.  As any Singaporean crossing the Causeway recently may have noticed, Malaysia’s currency has jumped quite a bit against the Singapore dollar lately. The ringgit hit an all-time low of 3.57 against the Singapore dollar on February 21. On Thursday (JuneRead more

The company’s existing data centre in Johor will be expanded with an additional investment of RM1.5 billion. Investment, trade and industry minister Tengku Zafrul Aziz said he was informed about the investment plans at a meeting with a TikTok vice-president in Singapore today. (Bernama pic) TikTok owner ByteDance has plans to invest about RM10 billionRead more

Malaysia External Trade Development Corporation (Matrade) and the Chamber of Commerce and Industry of Uzbekistan (CCIU) are collaborating to raise the profile of Malaysian products and services in the country and its Central Asian neighbours. Malaysia External Trade Development Corporation (Matrade) and the Chamber of Commerce and Industry of Uzbekistan (CCIU) are collaborating to raiseRead more