By Linda Khoo Hui Li
BANGKOK, Jan 27 (Bernama) – E-commerce cross-border facilitator HYT Cross Border Sdn Bhd is set to expand its presence in the Asean market this year.
Chief executive officer Kyle Keah said that after China, HYT has extended its footprint in Thailand through the Malaysia Halal Pavilion on Shopee Thailand early this month.
Seeing great potential in the Asean halal market, he said HYT is set to expand its footprint in Indonesia, Vietnam and the Philippines later this year.
“The expanding middle class is making a significant contribution to the growth of e-commerce in Asean. We see them (middle class) buying more imported products. Therefore, we are growing our presence.
“We are looking at RM20 million in sales this year in China and the four new markets,” he told Bernama.
HYT Cross Border founded HYT China in 2017 to help Malaysian businesses to access the China market easier, faster and cheaper with its integrated solutions in customs clearance, warehouse and logistics, trademark protection, sales, marketing and promotion.
Keah said the Covid-19 crisis accelerated the expansion of e-commerce between 2020 and 2022.
However, he said that with the reopening of borders and retail stores, the global e-commerce is expected to slow down somewhat.
“Foreign purchases are expected to outstrip domestic purchases.
“Continuous income growth has led to significant growth in e-commerce. Consumers shop online for foreign brands. More people are willing to try out imported products,” he said.
Keah said HYT is committed to support the Malaysian halal businesses.
“HYT would work to enhance the visibility of Malaysian halal products and engage the Malaysian halal businesses with wholesalers, distributors and online retailers to make their presence felt in the region.
“There is a growing demand for Malaysia’s halal products. We hope HYT’s services will give Malaysian brands more exposure,” he said.
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