• 1,500 SMEs To Be Listed on AliBaba.com
  • CASTPP Helps SMEs Make Inroads Into China’s Market
  • Singapore’s manufacturing output spikes, boosted by the electronics cluster
  • Global health community pleads for continuity of TPP11
  • Fave Supports Singapore’s Drive to Become a Cashless Society

1,500 SMEs To Be Listed on AliBaba.com By November

A total of 1,500 pilot small and medium enterprises (SMEs) will be ready for listing on the AliBaba.com e-commerce platform by early November, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. He said the selection process was conducted by three agencies — SME Corp Malaysia, the Malaysia External Trade Development Corp and the Malaysia Digital Economy Corp. “From a list of 6,000 entrepreneurs, the three agencies have shortlisted 2,500 entrepreneurs and to date, 1,500 had been identified.” By early November, this 1,500 SMEs will be listed on the AliBaba.com platform and they will start penetrating global markets,” he said.

CASTPP Helps SMEs Make Inroads Into China’s Market – MATRADE

The Malaysia External Trade Development Corporation’s (MATRADE) tripartite memorandum of understanding (MoU), which was signed last year to establish the China-ASEAN SME Trade Promotion Platform (CASTPP), has enabled five Malaysian small and medium enterprises (SMEs) to receive an export order worth about RM200,000 recently. The MoU was concluded by MATRADE with the Guangxi Qinzhou Free-Trade Port Area Administration Committee and the Industrial and Commercial Bank of China Malaysia. In a statement today, MATRADE said although the value was relatively moderate, it proved the effectiveness of the CASTPP. The products include sports drinks, fruit juices, confectioneries and premix coffee, it said. MATRADE said the CASTPP, which grew from Malaysia’s participation in the China-ASEAN Expo 2016, was undertaken pursuant to the China’s One Belt One Road initiative.

Singapore’s manufacturing output spikes 21% in July

Boosted by the strong performance in the electronics cluster, Singapore’s July manufacturing output was up 21 per cent compared to a year ago – the 12th straight month of growth. Manufacturing output increased 1 per cent month-on-month in July, according to the figures released by the Economic Development Board (EDB) today.  Excluding the more volatile biomedical sector, output went up by 4.9 per cent. Output expanded 13.1 per cent in June and 5 per cent in May compared to the previous year.  The electronics cluster’s output increased 49.1 per cent year-on-year.

Global health community pleads, yet again, to be heard as TPP11 countries meet in Sydney

Leading international health organizations have urged the eleven governments that remain in the Trans-Pacific Partnership (TPP) following the US withdrawal to heed their calls for a renegotiation of the deal when they meet from in Sydney, Australia next week. The open letter to ministers of health and trade was signed by prominent international and national health bodies, including the World Federation of Public Health Associations and its affiliates in Australia and New Zealand, and the New Zealand Medical Association. Health, consumer and patient groups who have signed include Médecins Sans Frontières, HIV/AIDs groups from Vietnam and Malaysia, the Latin American Alliance for access to medicines, and medical workers associations and unions from Japan and many other TPP11 countries. Their membership spans ten of the eleven countries participating in negotiations to resurrect the TPP.

Fave Ready to Support Singapore’s Drive to Become a Cashless Society

Fave, Southeast Asia’s leading food & beverage app, is supporting Singapore’s growth as a smart nation by making it easier for restaurants and offline retailers to offer cashless payment options and reward customers through FavePay, Fave’s newly launched mobile payments platform.  With more than two million subscribers already in Singapore, FavePay is now readily available for Singapore to begin adopting mobile payments. It is now accepted at over 150 outlets including Chocolate Origin, Four Seasons Durians, Rong Hua Bak Kut Teh, Wrap & Roll, Charcoal Thai and more.