Latest news with #RM1.3mil
The Star
06-07-2025
- Business
- The Star
10 years of MSME growth
Through Shopee, Kerpok Mfaizz in Terengganu has expanded nationwide, providing jobs for 25 locals and fulfilling over 100,000 orders. TEN years ago, selling online in Malaysia was something only a few could manage, mostly businesses with time, capital, and technical know-how. Setting up an online store meant building a website, sorting out payment systems, and managing deliveries – a tall order for most small traders. Today, tens of thousands of Malaysians run online shops, earn side income, or build fullfledged businesses – often with nothing more than a smartphone. One of them is Emilhan Mokhtar, founder of KitaShop Sabah, a homegrown brand specialising in Sabah pearl accessories. With a working capital of just RM2,000, he purchased brooches made with Sabahan freshwater pearls and listed them for sale on Shopee. Since then, he has generated over RM1.3mil in sales, hired a growing team, and expanded into a larger storefront in Wisma Sabah. Emilhan believes that e-commerce can create more demand for brooches made of Sabah freshwater pearls, especially when it gives sellers the ability to interact with interested users and potential buyers in real-time. 'Over the last few years, we have noticed that a customer may spend at least three times more during a Shopee Live session compared to buying normally from our Shopee store. 'We believe that they feel more confident with the product quality when they can see it live,' he added. Saovanee said it's been rewarding to see small businesses grow and make an impact in their communities. As Shopee celebrates its 10th anniversary in Malaysia this year, it marks a decade of empowering micro, small, and medium enterprises (MSMEs) through advanced technology, comprehensive training, and innovative tools, all of which contribute to the continued growth of Malaysia's digital economy. 'When Shopee first started, we set out a simple goal of making online buying and selling easier for everyday Malaysians,' said Shopee Malaysia's country director Saovanee Chan-Somchit. 'Malaysian sellers then had very few options if they wanted to sell online. Moreover, buyers were still reluctant to buy online due to uncertainties such as transaction safety, timeliness, reliability, and the reach of deliveries. 'From the very beginning, we wanted to make sure we are creating a safe, reliable, and simple platform where consumers could shop confidently and small businesses could get their start.' Muhammad Faizz, the owner of Kerpok Mfaizz in Besut, Terengganu, is able to reach a broader customer base and scale his business. His story reflects a growing trend where traditionally offline products, like keropok lekor, are now being sold and delivered nationwide through e-commerce. 'Thanks to Shopee, our keropok lekor is now reaching customers in Selangor and Johor, something we never thought possible. 'With this expanded reach, I've been able to build my own home and provide jobs for 25 local workers.' Since joining Shopee, Faizz has fulfilled over 100,000 orders, averaging approximately 100 orders per day. Shopee's logistics network, backed by local partnerships, has enabled him to handle larger volumes while ensuring timely deliveries nationwide. 'Shopee has given me financial stability that I couldn't achieve relying only on local customers. Now, our business is thriving as we deliver across the country,' he added. Shopee recognised early on that for digital commerce to truly take root, it needed to build an ecosystem that would equip and empower sellers, especially those with little to no online experience. That effort began with onboarding support for new sellers, followed by the rollout of Shopee University — a free training and resource for sellers offering in-person workshops, online modules, and live coaching sessions. Over the past decade, Shopee has conducted over 2.5 million hours of training, helping sellers gain essential skills in customer service, branding, data analysis and marketing. 'We knew that helping sellers embrace technology would be just as important as providing the platform itself,' said Saovanee. 'Many were unfamiliar with selling online. Some didn't even know how to upload a product listing or even the basics of taking product images that would appeal to buyers. 'That's why we focused on building programmes that guide them step by step, starting from where they are, and growing with them over time.' Today, sellers who complete Shopee's training are significantly more likely to hit monthly sales milestones. Shopee has also enlisted its most experienced sellers to support their peers, introducing initiatives like ShopeeXperts, which trains top performers to become certified trainers for others on the platform. This peer-to-peer approach has helped strengthen community learning and created a network of support that extends across seller categories. In states such as Sabah, Sarawak, Kelantan, and Perlis, the platform has collaborated with local councils and community groups to bring training and seller support closer to those operating in more remote areas that have been previously underserved. 'Over the past decade, our investment in Malaysia-specific seller initiatives, from launching new seller features to targeted projects in underserved states, enabled us to help millions of Malaysian MSMEs go online for the first time,' Saovanee added. 'It's been deeply rewarding to watch these small businesses grow, and to witness the impact they've made in their communities.' Shopee has helped onboard almost two million MSMEs in Malaysia over the past decade, with more sellers being onboarded from nearly all states. Many of them began selling part-time before eventually turning their side hustle into a primary source of income. These MSMEs have collectively generated over RM154bil in Gross Merchandise Value (GMV) on the platform over the past ten years. Thousands of sellers have also expanded beyond local borders, exporting their products through Shopee's regional network, with nearly four million items already shipped to overseas customers since Shopee Malaysia launched its export initiatives last year. Connecting Malaysian sellers to markets such as Thailand, the Philippines, and Singapore, more businesses are able to build their international presence supported by initiatives like the Shopee International Platform (SIP) and the MY-SG Direct programme. Building on this momentum, Shopee plans to expand its cross-border capabilities across South-East Asia further. As Shopee enters its second decade, its focus remains firmly on innovation that supports the growth of local businesses, from building tools, programmes, and experiences that help sellers thrive in an increasingly dynamic digital landscape. The platform is actively developing new seller solutions, including fulfilment warehouses across East and West Malaysia, AI-generated tools to ease image and video generation for sellers' listings, auto-translation to BM for product descriptions, a Chat AI Assistant for 24/7 response to buyers, and a digital relationship manager to provide all sellers a personalised touchpoint for commercial enquiries, all designed to help sellers optimise performance and reach the right audiences, maximising their growth potential. 'Our teams are constantly testing and exploring new technologies not for the sake of innovation, but to solve real challenges for real sellers,' said Saovanee. 'We want to make it easier for them to sell smarter, not harder, especially for first-time sellers who may be just starting.' While much progress has been made over the past decade, Shopee acknowledges that the work is far from over. Strengthening Malaysia's online retail ecosystem, deepening e-commerce adoption, and contributing to the broader digital economy remain ongoing priorities. As the platform scales to support these goals, its focus remains rooted in the mission it started with. 'We want to be a partner that sellers can grow with through every stage of their journey,' she added. 'At the heart of it, it's always been about using technology to make lives better for buyers, for sellers, for communities. That commitment hasn't changed.' CLICK TO ENLARGE
The Star
29-05-2025
- Business
- The Star
Tropicana sees sustained earnings with RM2.1bil unbilled sales
KUALA LUMPUR: Tropicana Corp Bhd 's unbilled sales of RM2.1bil as at March 31 place the company in a comfortable position to deliver sustainable earnings. The property developer believes that the demand for properties in prime locations in Tropicana's established, mature and developing townships will persist, with attractive pricing and various promotional packages. 'Further, the group expects improved sales especially for its properties in Johor, as a result of the Johor-Singapore Special Economic Zone, Johor Bahru-Singapore Rapid Transit System Link project, as well as the positive growth effects from the possible resuscitation of the High Speed Rail project. 'Premised on the expected demand, the group will continue to launch its properties at strategic locations across the Klang Valley, Genting Highlands, Northern and Southern Regions,' Tropicana said in the notes accompanying its financial results. In the first quarter ended March 31, Tropicana posted a net profit of RM1.3mil, or earnings per share 0.05 sen, compared with a net loss of RM9.08mil, or loss per share of 0.40 sen. Revenue for the quarter stood at RM260.4mil, down 10.6% from RM291.3mil. Tropicana said it will continue to leverage on its various sales initiatives and marketing campaigns to secure more sales and therefore remaining positive and confident on the long-term prospects of its property development business. In addition, the group will continue to develop and market its properties located at various strategic locations, which will in turn, translates to higher sales and positive contributions to the future earnings of the group. Tropicana's current landbank stood at 1,336.1 acres, with a total potential gross development value (GDV) of RM168.4bil.
The Star
16-05-2025
- Business
- The Star
Mineral licence approval now takes one week instead of 61 days, says ministry
PUTRAJAYA: The Natural Resources and Environmental Sustainability Ministry (NRES), through the National Minerals and Geoscience Department (JMG), has successfully reduced the approval time for the Mineral Licence (Without Storage Premises) from 61 days to just seven days under its Bureaucratic Red Tape Reform (RKB) project. According to NRES, the reform is expected to lower compliance costs for mineral trading companies by up to 20 per cent, boosting both domestic and international trade and generating an estimated RM1.3mil in annual revenue for the government. "This initiative reflects NRES' ongoing commitment to streamlining industry operations and enhancing the efficiency of public service delivery,' the ministry said in a statement on Friday (May 16). In recognition of this achievement, JMG received a Certificate of Appreciation presented by Chief Secretary to the Government, Tan Sri Shamsul Azri Abu Bakar, to NRES secretary-general, Datuk Dr Ching Thoo a/l Kim, on April 10. The RKB project is part of the Special Task Force on Agency Reform (STAR), chaired by the Chief Secretary, and aims to expedite regulatory processes while reducing compliance costs for businesses and the public. This move also supports the Public Service Reform Agenda 2024-2030 and the Malaysia Madani vision, which seeks to improve government efficiency, drive productivity, and enhance public well-being. Additionally, the reform helps accelerate administrative processes, strengthen industrial competitiveness, and promote sustainable mineral exports. - Bernama
The Star
30-04-2025
- The Star
70-year-old in Penang loses nearly RM1.4mil to online stock investment scam
GEORGE TOWN: A senior citizen lost more than RM1.3mil after being duped by an app-based online investment scam. State police chief Comm Datuk Hamzah Ahmad said the 70-year-old victim saw an investment advertisement based on stock trading that was circulated via WhatsApp around December last year. "The investment promised a return of between 8% to 15% of the invested capital within a period of two months," he said. Comm Hamzah said the victim was asked to download the "BIONM" app and register as a member before investing through the application. He said a total of 14 transactions were conducted by the victim into four different bank accounts. Comm Hamzah said the victim began to realise that he had been deceived when he was asked to make an additional payment of RM1mil as a commission to BIONM for the purpose of withdrawing the so-called accumulated profit of RM11mil in the application. "The victim lost RM1.36mil in total," he said. Comm Hamzah said the victim then lodged a police report on April 28. Comm Hamzah urged the public to be wary of investment offers advertised on social media sites, especially those that offer outrageous returns.
The Star
24-04-2025
- The Star
Court remands six suspects in RM15mil false claim investigation by MACC
KUALA LUMPUR: A seven-day remand was given for six individuals detained for allegedly conspiring to make a false claim worth RM15mil. The six detained, including a company director, a chief financial officer and two police officers, are suspects in making the false claim involving the procurement of a service contract to maintain a command & control, communication & computer integration (C4i) system. They were brought to the Putrajaya Magistrate's Court on Thursday (April 24), where Magistrate Fadzlan Mohd Noor granted a seven-day remand order until April 30. Sources said the suspects - five men and a woman - aged between 30 and their 50s - were detained at 8pm on Wednesday after having their statements recorded at the Malaysian Anti-Corruption Commission (MACC) headquarters. "Initial investigation revealed that all suspects were believed to have committed the offence between 2022 and 2025. "They had conspired to make a false claim worth RM15mil, where some of the work did not meet the requirements of the contract. "The project, with an overall value of RM70mil, was given to the police by the Home Ministry," the source said. Sources added that raids and seizures were conducted at 15 locations, including at the Home Ministry and several companies in Johor, Selangor, Putrajaya and Kuala Lumpur. The MACC seized four luxury vehicles worth RM1.3mil and froze 51 bank accounts with RM3.5mil in funds. "The operation was conducted with the cooperation of the police. "The MACC also seized cash of different denominations and nine mobile phones," the source said. Meanwhile, MACC senior director (Special Operation) Datuk Mohamad Zamri Zainul Abidin confirmed the detention of the suspects. "We are investigating under Section 18 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering (AMLA) Act," he said when contacted.
