PETALING JAYA, March 29 (Bernama) -- Antah HealthCare Group’s subsidiary, Antah XLOG Sdn Bhd, aims to achieve RM1 million in revenue this year through a fully integrated, blockchain-based end-to-end shipping and logistics platform known as XLOG.
XLOG is Malaysia’s first advanced logistics platform on blockchain which simplifies logistics booking services among corporates, small and medium enterprises (SMEs), and end-users.
The platform is developed by Shiptek Solutions Corporation, a renowned software development company in Southeast Asia backed by UnionBank, one of Philippines’ largest banking groups.
Antah XLOG Sdn Bhd general manager Donny Gan said the company is eyeing a five-fold increase in revenue next year as the XLOG will be a game-changer in the logistics industry, which is in dire need of evolution and modernisation to enable businesses to grow further and move faster.
“We are also looking to expand in ASEAN, with the next target being Singapore,” he told a press conference after the XLOG media launch today.
Gan said Shiptek Solutions Corporation spent US$10 million to develop the blockchain-based platform which solves import container deposit issues that plague the industry.
He said XLOG is the first and only platform that offers container insurance protection where shipping line in the XLOG community accepts in lieu of import container deposit.
AntahXLOG charges an introductory price of RM15 for a 20-footer container and RM28 for a 40-footer.
Antah Healthcare Group chief executive officer Tunku Datuk Mohamed Alauddin Tunku Naquiyuddin said the platform is offering new opportunities for local trucking and shipping businesses to reach out to more customers.
“A business should focus more on exploring and expanding its business while its logistics needs should be simplified via the XLOG platform,” he said.
Twenty service providers have signed up on the XLOG platform.
The platform's local partners include Boost Credit while marine insurance is underwritten by AIG and Etiqa General Insurance Bhd.
-- BERNAMA
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