Alibaba.com To Invest, Support Malaysia's B2B E-commerce

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce will continue to invest in Malaysia as well as introduce initiatives to support small and medium-sized enterprises (SMEs).

Alibaba.com head of Malaysia Business Rocky Lu said the platform is prepared to bolster its position in the domestic market by investing in and implementing programmes to support SMEs.

"This is the inaugural year that we have hosted the Key E-commerce Leader Awards (KEL Award) in Kuala Lumpur. The concept was developed from an idea we created with our new observation team this year,” he said in a media interview.

Lu said the Alibaba.com KEL Awards aim to gather top-notch suppliers from across South and Southeast Asia regions to foster mutual learning and engagements while providing a unique opportunity for participants to amplify their influence within Alibaba.com's global community of buyers and suppliers.

“With more than 250 global sellers participating, the awards set the stage for the selected Malaysian SMEs to shine,” he added.

This initiative, supported by the Malaysia External Trade Development Corporation (MATRADE), is part of Alibaba.com's commitment to promoting e-commerce development in Malaysia.

Lu said there is room to improve Malaysia's B2B e-commerce volume.

"Malaysia has a median volume in Southeast Asia, So, it's kind of in the middle, and there are still a lot of local SMEs that have the potential to leverage e-commerce platform.

"Therefore, we have implemented initiatives, including both online and offline training sessions. Additionally, we have been able to instruct local SMEs on the use of e-commerce and, at the same time, ascertain local SME needs," he stated.

He clarified that Alibaba.com is committed to providing its services to the local business community, including smart assistant tools that are appropriate for both sellers and buyers. These tools allow users to search for suppliers by region and by buyer.

The competition concluded with the selection of all three finalists as Alibaba.com Malaysia Ambassadors for 2024. Nicholas Tee Kai Xuen from LK Tee Enterprise Sdn Bhd was honoured as Alibaba.com Malaysia Key E-commerce Leader for 2024 and will represent Malaysia in the KEL Awards Regional Finale, which is set to take place in Vietnam later this year.

Additionally, the event featured a People's Choice Award for 2024, with Sabrina Mah from ZH First Coffee Sdn Bhd receiving recognition based on audience votes.

According to MATRADE, Malaysia's strategic location and dynamic business environment have solidified its role in Southeast Asia's e-commerce landscape.

The country's exports were up by 12.3% to RM131.15 billion with a trade surplus of RM6.42 billion from January to July 2024.

LK Tee Enterprise Sdn Bhd head of business development, Nicholas Tee, who won Alibaba.com's Key E-commerce Leader award, said that although the company had been involved in e-commerce for seven years, it was the COVID-19 pandemic that significantly accelerated its growth.

“The real game started in 2020 when the COVID-19 pandemic hit,” Tee said.

Newcomers to the e-commerce space, particularly those who started post-pandemic, had the advantage of learning from real experiences and challenges.

“So from there, you need to adapt that knowledge into your business plan because, although you have the experiences, it's really about how you make it practical to bring your business to life,” he said.

Tee added that  Alibaba.com serves as a valuable tool for exporters, including startups, by providing an effective platform for exporting goods, especially when compared to traditional, physical methods of doing business.

“Compared to physical trade shows, which are often costly and time-consuming, Alibaba.com offers a more efficient way to connect with buyers and sellers as a supplier, streamlining the process and allowing you to focus on building those connections.

"In addition, conducting business online enables us to operate continuously, all year round, which is a significant advantage. This enables us to manage the entire business ecosystem, including lead generation, marketing, and data analytics, on a single platform," he said.