KUALA LUMPUR: It has been more than a year since the Digital Free Trade Zone (DFTZ) initiative was launched in Malaysia and although public attention was only revived a week ago during the launch of Alibaba Group Holding Ltd’s first regional office here, several local companies have already been hard at work making the ambitious project a reality.

Big data analytics firm Fusionex International Plc is one of them, having led a consortium which secured a contract to provide the e-Services platform for the DFTZ from the Malaysia Digital Economy Corp.

The awarding of the contract was announced in November last year and according to Fusionex, has since been up and running with more than 3,000 small and medium enterprises (SMEs) on board currently.

“More and more of [these companies] are starting to appreciate that it is important to level up and capitalise on the robust growth in e-commerce and the export market,” said Datuk Seri Ivan Teh, founder and chief executive officer of Fusionex.

He added that many local SMEs that Fusionex has spoken to are receptive, open-minded and cognisant of the global language.

“They are open and want to embrace technology as long as it’s easier, faster, better, and more cost-effective than the status quo. In short, they are constructive but might be facing challenges in areas such as market access, funds, modern skills and technology. This is where DFTZ’s e-Services can assist them,” Teh told The Edge Financial Daily in an email exchange.

Ivan Teh

Ivan Teh

The platform is key to realising the e-World Trade Platform (eWTP) that has been one of Alibaba’s key initiatives under the DFTZ banner and aims to provide Malaysian SMEs access to global consumers via e-commerce.

“The e-Services platform functions as a one-stop digital trade facilitation platform, that is integrated with a multitude of business service platforms, e-marketplaces, government agencies, logistics providers, freight forwarders, agents, SMEs and other service providers,” said Teh.

The platform aims to “bridge the gap in terms of know-how, reduce costs, as well as avoid or minimise unnecessary delays and encumbrances associated with the old way of manually doing things,” he said, adding that it is meant to be highly scaleable and inclusive.

According to Teh, the platform is powered by big data technologies, artificial intelligence (AI) and machine learning and is “designed to help merchants — regardless of shape and size — to level the playing ground, and do so without incurring exorbitant costs”.

Fusionex is also riding on the strength of Alibaba Cloud, what with being the latter’s official strategic partner in this region.

“They are a great, committed partner,” Teh said of Alibaba Cloud, noting that the collaboration is synergistic as the latter “has a great cloud offering, whereas Fusionex is a leader in big data technology, AI and machine learning with a strong international reputation.”

While Fusionex may not be a household name to most Malaysians, it has certainly made waves overseas. The company had, until July last year, been listed on London’s Alternative Investment Market.

However, Teh had decided to take the company private after five years on the market due to what he reportedly said was a persistently undervalued stock.

Without disclosing any figures, Teh shares that Fusionex has “invested significantly” and will continue to invest as it is fully committed to ensuring the success of the e-Services platform.

He did not reveal the names of the group’s partners in its consortium, but that they are local players with the relevant expertise and experience.

Teh pointed out that like the DFTZ itself, the e-Services platform is not constrained to physical hubs such as the KL Aeropolis logistics hub being developed by Malaysia Airports Holdings Bhd and Cainiao Smart Logistics Network (Hong Kong) Ltd.

“e-Services will be an open platform that welcomes multiple business service providers, be it forwarding agents, logistics players, and of course very importantly, good local SMEs with great Malaysian products.”

“The cost benefits and efficiencies these players enjoy would ultimately trickle down to consumers [in the form of] faster, more efficient and more cost-effective products and fulfilment,” he said. https://www.bharian.com.my/bisnes/korporat/2017/09/330596/fusionex-alibaba-cloud-pacu-transformasi-digital-asean

 

 

Information innovation carrier Fusionex International is targeting over 10,000 regional little medium business (SMEs) to adopt on its e-store system, Fusionex International ‘s FOR YOU, in the very first 12-month of its introduction.

Owner and also team ceo Datuk Seri Ivan Teh said the consolidated market and online platform allows smooth connection between merchants and consumers.

“The Fusionex FOR YOU platform functions online and e-commerce capacity to check business deals and market their products backed by our vast obtainable audiences across all sectors such as economic services, profession, manufacturing as well as retail internationally,” he told NST Business in an interview just recently.

Teh claimed SMEs can likewise take advantage on the business’s digital advertising and marketing platform that includes the ‘FOR YOU’ package.

“This online as well as mobile commerce service makes it easy for sellers to begin selling their products and services within 24-hour of signing up with FOR YOU.

“This innovation framework makes it possible for SMEs to deliver premium online buying experience to their clients as it is equipped with an user-friendly interface to fit the needs of all sellers and clients,” he included.

Fusionex is experts in analytics, large data, artificial intelligence and expert system (AI), promoting companies with technology-driven as well as data-driven platforms and details.

“We offer budget-friendly price as well as a free-trial duration for chosen services and companies. We wish to energise SME services’ ecological community and guarantee growth in their sales momentum,” he claimed.

Teh explained the innovation can helping companies’ evaluate its weak points and enhance it in a target audience, which can boost up its company procedure.

“We will assist SMEs to welcome this digital transformational trip, optimising their brand visibility using social media and with digital marketing network as well as various other ecommerce platform,” he claimed.

He claimed Fusionex is focused on organisation innovation leveraging on its vast big information analytics, artificial intelligence and blockchain capacities that can assist SMEs revolutionise organisation procedures by making it much more reliable as well as affordable.

“Our system via a long-lasting procedure gives SME businesses runway to boost their earnings. SMEs normally want electronic change to stay informed, as well as this is one way that we can help to accelerate their businesses development.

fusionex international

“Their feedback has actually been exceptionally favorable, however some require more validation in regards to return on investment and skill-sets that are needed for them to find out about this brand-new modern technology,” he claimed.

Teh claimed the firm anticipates more youthful participation, consisting of startup firms, as though much easier for this age group to take on and change themselves in digital transformation.

“About 85 per cent of the nation’s population aged listed below 60, while the remaining 15 per cent falls under the knowledgeable group. This is a great transitional phase for the country’s business ecological community based upon the mixed populace groups,” he claimed.

Teh said SMEs need to learn brand-new modern technology as well as upgrade them with the right competitiveness along with digitise its operations to maximise its productivity and also lasting organisation continuity.

Previously detailed on London Stock Exchange, Teh claimed Fusionex may explore the possibility of providing the firm back again.

Nonetheless, he said it was still early for the firm introduce its listing bourse destination.

“We would certainly favor to maintain our options open. There are excellent prospects in the United Stated, Europe and also Asia Pacific,” he claimed.

Read more: https://www.nst.com.my/business/2018/07/396135/fusionex-aims-over-10000-local-smes-adopt-its-e-store-platform-within-next