Southeast Asia E-commerce Business Intelligence
June 07, 2017
June 04, 2017
VIETNAM URGES NEARLY 13,500 FACEBOOK RETAILERS TO DECLARE TAX
District tax departments in Ho Chi Minh City have sent out tax demands to nearly 13,500 Facebook retailers in a move to target tax avoidance by online businesses.
Since February, Vietnam’s tax authorities have been looking at ways to collect taxes from online businesses that use Facebook and other social media sites such as Instagram and Youtube.
Nguyen Nam Binh, deputy director of Ho Chi Minh City's Tax Department, said that the law requires online retailers earning over $4,400 a year to declare tax, so authorities are only targeting long-term and unregistered businesses.
Despite the requests, the tax department said the response had been limited because most online transactions in Vietnam involve cash, which is difficult to track and tax. [Read more]
Strategic review for the financial SSC of an agricultural company.
Strategic plan and new Information Systems outlines for the Tunisian postal operator.
Analysis of the market and its players for the Vietnamese mobile business.
Creation of an internal headhunting company for a big agricultural company (US$ 6 billions).
Launch of the weekly ASEAN e-commerce Business Intelligence report. <See more>
June 02, 2017
SECURITIES AND EXCHANGE COMMISSION TO EASE E-PAYMENT INFO SERVICES
The Securities and Exchange Commission (SEC) plans to license e-payment securities settlement information service providers, a move that is expected to ease brokerage companies' back office workload.
According to a SEC statement yesterday, the commission will require the operators with high credibility or public trust to have at least 100 million baht of registered capital, hold an e-payment licence from the Bank of Thailand and have a system that can link all commercial banks.
Pattera Dilokrungtirapop, chairwoman of the Association of Securities Companies, said securities brokers and the Stock Exchange of Thailand (SET) have intimated that the intermediary may be similar to Thailand's ATM pool, which allows customers to withdraw cash from terminals of every bank in the network. [Read more]
June 07, 2017
GRAB AIMS TO ENTER ALL ASEAN COUNTRIES
Singapore-based ride-hailing and mobile-payments platform Grab plans to expand its business to cover every Southeast Asian country as soon as possible, according to Tan Hooi Ling, Grab co-founder and chief operating officer.
She said Grab now operated in seven countries in Southeast Asia: Thailand, the Philippines, Singapore, Vietnam, Malaysia, Indonesia and Myanmar. The company also wants to expand into Cambodia, Laos and Brunei. This will be done step-by-step, after the company started operating in Myanmar early this year.
Tan said Grab’s business focus was on transportation but this had led it into related fields such as e-payment. [Read more]
June 05, 2017
SHOPEE PARTNERS WITH FACEBOOK TO HELP FILIPINO ENTREPRENEURS
Mobile-shopping app Shopee has recently partnered with Facebook for an exclusive Shopee University session to scale up the digital marketing skills of Filipino online entrepreneurs from the Micro, Small and Medium Enterprise (MSMEs) segment.
Deepesh Trivedi, head of Facebook’s Retail & Ecommerce for Southeast Asia, and Ash Mandhyan, the Philippines’s Operations Group lead, spearheaded sessions on e-commerce via Shopee University program.
Macy Castillo, Shopee’s head of Commercial Business, said with their mobile app and the program, she hopes more sellers will find it easier to set up their own online retail “space”. [Read more]
June 02, 2017
SINGTEL, TELKOMSEL LAUNCH REAL-TIME MOBILE REMITTANCE SERVICE
Singtel and Telkomsel has launched a real-time mobile remittance service for Indonesia. Offered by SingCash, this service allows customers in Singapore to send money to PT Pos Indonesia’s 4,500 cash-out points across the country via Weselpos Instan. This is an enhancement to the current facility that lets customers send money to Indonesian bank accounts.
“Indonesia is one of our main remittance corridors and we are pleased to partner Telkomsel to offer convenient and secure mobile remittance cash pick-up service for our Indonesian friends,” said Yuen Kuan Moon, Chief Executive Officer for Consumer Singapore, Singtel.
“Telkomsel's partnership in Singtel's remittance service is one effort to support our government in promoting financial inclusion for Indonesian people, especially the unbanked segment,” said Ririek Adriansyah, Chief Executive Officer of Telkomsel. [Read more]
June 05, 2017
MALAYSIA'S E-COMMERCE MARKET TO GROW 23% PER YEAR TILL 2021
Malaysia's online retail market is expected to grow by 23% per year through to 2021, driven by electronics and media, according to A.T. Kearney’s 2017 Global Retail Development Index.
The report showed that Malaysia ranked third among the top 30 developing countries for retail investment worldwide, with India topping the list, followed by China. The result was driven by an influx of tourists, higher disposable income and government investments in infrastructure, all of which have provided a boost to the retail industry in Malaysia.
It also said 23% online retail growth will account for 40% of total online sales in 2017, citing the government's plan spend US$280 million to roll out high speed broadband access to rural areas beginning last year as a boon for e-commerce expansion in the country. [Read more]
June 02, 2017
REEBONZ LAUNCHES S$40M E-COMMERCE HUB IN SINGAPORE
Homegrown e-tailer Reebonz has invested US$29 million (S$40 million) to build an eight-storey e-commerce hub in Tampines to enhance its cross-border operations. The new headquarters will house Reebonz’s management and operations as well as its entire warehousing and distribution facilities.
The e-commerce hub will not only house the offices and warehouse space, but it will also feature a dedicated exhibition space for boutique items.
Reebonz is bringing independent luxury designers under its roof to showcase their products there, while also helping them market and sell online. In the future, Reebonz also expressed its plans to house an incubation hub for local luxury startups and designers [Read more]
June 06, 2017
SINGTEL, DBS TEAM UP INITIATIVE TO HELP SMBS DIGITISE
Singtel and DBS are offering further help to get small and midsize enterprises (SMEs) to digitise their operations and explore e-commerce options to grow their presence.
The Singapore telco and bank were targeting to list 5,000 SMBs on the 99%SME website, which was part of an annual campaign they launched in 2015 to help such businesses expand their in-store and online business. On the 99SME.sg website, consumers can find in-store promotions for 2,600 brick-and-mortar SMEs as well as an e-marketplace with 400 digitally ready SMEs.
The annual 99%SME campaign was started by Singtel and DBS and is into its third year. The campaign aims to help SMEs venture into e-commerce this year, and Lazada Singapore was roped in to host the e-marketplace. [Read more]