KUALA LUMPUR: Ominent Sdn Bhd's flagship IGL Coatings, an automotive detailing solutions player, has finalised a strategic alliance with CommerceDotAsia Ventures Sdn Bhd (Commerce.Asia) to bolster its online presence and e-commerce initiatives across the region.
Focusing on the dominant e-commerce platforms in Malaysia namely Shopee and Lazada, which together command 69 per cent market share, the move aims to capitalise on the escalating digital marketplace.
IGL Coatings founder Keong Chun Chieh said the e-commerce user base is expected to surge from 9.6 million in 2023 to 11 million by 2025.
The partnership is positioned to capitalise on the burgeoning digital marketplace in Malaysia and Southeast Asia, he added.
"By harnessing Commerce.Asia's expertise as an all-in-one e-commerce ecosystem, we are poised to scale our operations by at least three times," he sad.
IGL Coatings was recognised by the Financial Times in 2023 and 2024 as one of only two high growth manufacturing companies in Malaysia within the Asia-Pacific region.
"Commerce.Asia has proven itself to be one of the best service providers and we look forward to embarking on this journey together," said Keong.
Commerce.Asia chief executive officer Kuna Kathigesan advised local businesses to expand regionally as there are tremendous opportunities for growth and innovation throughout Southeast Asia.
Commerce.Asia is known for enabling local businesses to broaden their reach and enhance their market share within the regional market.
From facilitating seamless integration of digital operations like e-commerce functionalities, payment processing, and logistics solutions, Commerce.Asia enables local businesses to broaden opportunities beyond local borders.
It also offers live streaming and short video production tools as part of its social commerce initiative via Xamble Live to enhance interactive customer engagement.
"Our platform provides precise data analytics for strategic decision-making, helping businesses adapt their products and marketing to regional needs efficiently," Kuna said.
The partnership was formed through the shared participation of Keong and Kuna in the Soonicorns Collective facilitated by Proficeo and Penjana Kapital.
The Soonicorn Collective is a community platform for Malaysian CEOs to leverage on their knowledge, networks and experience to build better leaders, companies and ecosystems.
Co-founder of Proficeo and chairman of Soonicorn Collective Dr. Sivapalan Vivekarajah said the partnership exemplifies the spirit of innovation and collaboration that drives Malaysia's entrepreneurial ecosystem.
"This is the vision of the Soonicorn Collective, where the best Malaysian startups work together to build better, stronger companies to drive the Malaysian economy forward," he said.