e-commerce

Synagie inks deal with China's Weimob to help Southeast Asian SMEs penetrate China's e-commerce market

SINGAPORE (June 10): Synagie Corporation, the e-commerce enabler, announced that it has signed an agreement with a wholly-owned subsidiary of Weimob to offer its integrated cross-border e-commerce and advertising solutions that will help SMEs in Southeast Asia (SEA) penetrate China’s behemoth social e-commerce market.

DBS helps SMEs in the retail and F&B sectors reduce cost of managing cash

SINGAPORE (June 4): DBS says that digital transactions from its SME customers have increased by 70%, while transaction value has increased by 25%, since the bank launched DBS MAX, Singapore’s first mobile-based QR payment collection solution four months ago.

DBS MAX has been steadily expanding, with now around 2,000 merchants and over 3,000 outlets across Singapore adopting this solution. With this, companies are able to enjoy the ease and convenience of ‘plug-and-play’ digital payments collection solution.

Synagie to assist in managing online sales for Samsonite

SINGAPORE (May 6): Synagie Corporation, the e-commerce enabler, has agreed to help Samsonite international, manage the online sales of Samsonite International’s brands, marking the group’s foray into the travel and lifestyle e-commerce sector.

ShopBack raises US$45 mil in latest funding round

SINGAPORE (Apr 10): ShopBack, the rewards and discovery platform, has secured US$45 million ($60.9 million) in its latest funding round, bringing the company’s total funding to US$83 million.

This latest funding round sees new investors, including co-leads EV Growth and Rakuten Capital, as well as EDBI, a government-linked strategic investor, along with other existing investors. Following which, Amit Patel, CEO of Ebates, a Rakuten company, and Willson Cuaca, managing partner of EV Growth, will join ShopBack’s board of directors.

Synagie eyes Vietnam e-commerce market expansion with new brand partner

SINGAPORE (Apr 4): Synagie Corporation has announced expansion plans to Vietnam’s e-commerce market by signing one of the world’s biggest luxury beauty companies as its first brand partner to use Synagie’s e-commerce enablement solutions to help them grow in the country.

Through the group’s end-to-end commerce enablement and fulfilment solutions are achieved using a cloud-based Synagie platform, which leverages on technologies such as cloud computing, big data analytics and artificial intelligence (AI).

Synagie’s new brand partner was not named.

SingPost to divest loss-making US subsidiaries amid strategic review

SINGAPORE (April 4): Singapore Post Limited (SingPost) has announced its intentions to sell its controlling stakes in US e-commerce businesses, Jagged Peak and Trade Global, as part of its strategic review.

In filing on Wednesday night, the postage and e-commerce company says it believes its strengths and strategic competitive advantages lie in the Southeast Asia and Asia Pacific region which provides “attractive growth opportunities”.

Thinking of starting an e-commerce business? Here's what you need to know

SINGAPORE (Mar 26): Despite being a population of active mobile users, more Singaporeans are still preferring to shop online using desktops rather than their smartphones, according to a new report released by Picodi.

Based on the global e-commerce platform’s internal data for 2018, just one out of three (35%) online retail transactions made in Singapore was made with the use of a mobile device last year, with the remaining using desktops to make their purchases instead.

Alibaba bets on Frenchman to lead high-stakes Southeast Asia expansion

(Mar 4): In December, Alibaba Group Holding Ltd. put Pierre Poignant in charge of Lazada, the subsidiary spearheading the Chinese e-commerce giant’s high-stakes Southeast Asia expansion. The choice was out of character for several reasons. Poignant is a professional manager—a type Alibaba supremo Jack Ma has long disdained. He was part of Lazada’s founding team, also typically disqualifying. Finally, as a Frenchman, he’s one of a very few Westerners to have cracked Alibaba’s upper echelons.

CGS-CIMB cuts SingPost target price despite 3Q earnings growth

SINGAPORE (Feb 4): CGS-CIMB Securities is maintaining its “hold” call on Singapore Post (SingPost) while lowering its target price to $1.03 from $1.12 previously, which now implies 19.7 times FY20F P/E.

This comes after factoring in better cost management in FY19F; more conservative growth assumptions for FY20-21F; and an updated share base post the release of the group’s latest set of quarterly results.

EC World REIT started at 'buy' by RHB on China's booming e-commerce and logistics sectors

SINGAPORE (Jan 9): RHB Research is initiating a “buy” call on EC World REIT with a target price of 81 cents.

Currently, the REIT has seven logistics assets in China catering to the thriving e-commerce, logistics and supply chain segment that are well-positioned in future growth segments.

In a Tuesday report, analyst Vijay Natarajan says, “As its properties largely cater for domestic consumption, we see minimal impact from the US-China trade war and could potentially benefit from the Government’s push to boost domestic growth.”

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