B2B online marketplace AsiaTradex.com launched

• Allows businesses to source for raw material or outsource their processes
• Targets 30,000 suppliers and over 100,000 product listings for 2015

MALAYSIAN company MeenGi Sdn Bhd, which operates an online platform for engineers and engineering companies, has also launched a business-to-business (B2B) online marketplace called AsiaTradex.com.
 
The e-marketplace aims to get Malaysian small and medium enterprises (SMEs) into e-commerce, it said in a statement.
 
“In 2011, total e-commerce transactions in Malaysia was worth almost RM900 million and this year, it could be worth as much as RM5 billion,” said Dr Wee Ka Siong, Minister in the Prime Minister’s Department. [RM1 = US$0.28]
 
However, Wee, who was guest of honour at the launch, said the bulk of these e-commerce transactions involved retail.
 
“It is refreshing to see AsiaTradex take up the challenge to introduce streamlined access for businesses to source for raw material or outsource their processes via an online outlet,” he said.
 
AsiaTradex.com will function as a ‘business shopping mall’ that aims to connect 660,000 Malaysian based buyers and suppliers, said its cofounder and chief executive officer Tan Chen Chiang.
 
It will also have collaborations with government agencies, business associations, technology partners, and private conglomerates, he added.
 
“AsiaTradex.com was created with the aim of answering the Government’s call for SMEs to increase their overall contribution to Malaysia’s GDP (Gross Domestic Product) via e-commerce,” Tan said.
 
The e-marketplace will cover 10 core industries with over 500 products and service categories.
 
“We are targeting 30,000 suppliers in Malaysia to be listed on AsiaTradex.com, with 100,000 product listings, for 2015,” said Tan.
 
Short for Asia Trade Exchange, AsiaTradex.com has been live since March 2015.
 
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