1. Malaysian exporters growing fast on China’s Tmall Global platform
2. Australia among top three nations importing products into China using Tmall.
3. Households With Internet Access Increase To 85.7 Pct In 2017
4. PNB funds reach RM279 bln, 98 per cent invested locally
5. Ceiling price for domestic airfares
6. Asia School of Business signs MoU with Hanyang University
Malaysian exporters growing fast on China’s Tmall Global platform
Malaysia is among the fastest-growing exporters selling into China’s Tmall Global, a cross-border business-to-consumer (B2C) retail platform of Alibaba Group’s Tmall.com. The recently released 2017 Tmall Global Annual Consumers Report showed that Malaysia was the seventh fastest-growing exporter in Tmall Global after niche countries such as Greece, Chile, Poland, Hungary, Spain, Brazil, Austria, Israel, and Denmark, measured by year-on-year growth. “The most popular Malaysian product categories are food products, coffee, and mother and baby products such as strollers and prams,” it said in a statement today. Niche countries are countries whose sales on Tmall Global accounted for at least 0.02 per cent of total sales on the online platform. Meanwhile, the report said that Tmall Global maintained its position as the largest B2C e-commerce platform for imported products in China, with a market share of 27.6 per cent in the fourth quarter of 2017.
According to the Report, Australia is among the top three nations importing products into China using Tmall. The report, which ranks countries based on the volume they sell through the platform, has found Australia has increased its ranking on the list by two places since last year. Australia is now only behind Japan and the United States, and jumping ahead Germany and South Korea in terms of sales. The growth can be attributed to a greater demand for health and nutrition supplements, baby products and milk powder produced in Australia. Food supplements were the second most popular category on Tmall Global overall, while “health and nutrition supplements” were one of Australia’s top three sales categories through the platform.
The report also found Chinese post-millennials were the main customer base for buying these products through overseas sellers on Tmall. Consumers aged between 18-27 accounted for close to 50% of the total number of Tmall Global users and contributed to nearly 40% of total sales through the platform. The report highlights “content and emotional interaction” as a driving factor for consumer decisions. In a statement, managing director of Alibaba Group, Australia and New Zealand, Maggie Zhou said setting up an Australian office has helped facilitate growth in businesses seeking to export goods to the Chinese market. “With 515 million annual active consumers now using our China retail marketplaces the opportunity for Australian businesses remains enormous, and we are excited to be part of the China journey for even more local brands in 2018,” she said.
Tmall Global hosted products from 68 countries on its website in 2017, which included 16,400 brands. It claims it is the largest B2C e-commerce platform for imported products in China, with a market share of 27.6% in the fourth quarter of 2017 and a belief there is more for “significant untapped potential”. Between 2015 and 2017, the number of customers purchasing from Tmall Global has tripled.
Households With Internet Access Increase To 85.7 Pct In 2017
Households having access to the Internet have increased by 15.6 percentage points to 85.7 per cent in 2017 as compared to 70.1 per cent in 2015. The Department of Statistics said, households with computer and mobile phone access rose to 74.1 per cent and 98.1 per cent respectively compared to 67.6 per cent and 97.9 per cent in 2015. Chief Statistician Malaysia, Datuk Seri Dr Mohd Uzir Mahidin, said individuals using Internet aged 15 years and above in Malaysia rose by nine percentage points to 80.1 per cent in 2017 from 71.1 per cent in 2015. “Among the popular Internet activities carried out by the Internet users were participating in social networks such as Facebook, Instagram, Twitter and others (86.3 per cent); downloading images, films, video or music; playing or downloading games (81.2 per cent); getting information about goods and services (80.4 per cent); and, downloading software or applications (74.5 per cent). “Other activities carried out by Internet users were Internet banking (37.6 per cent), and purchasing or ordering goods or services (23.2 per cent),” he said. The percentage of individuals using computer also increased to 69.8 per cent in 2017 from 68.7 per cent in 2015, while the percentage of individuals using mobile phone rose by 0.2 percentage point in 2017 to 97.7 per cent from 97.5 per cent in 2015.
PNB funds reach RM279 bln, 98 per cent invested locally
Permodalan Nasional Bhd (PNB), established some 40 years ago, is the country’s largest fund manager, managing funds worth RM279 billion. Its Group Chairman, Tan Sri Abdul Wahid Omar said 98 per cent of the fund were invested locally to create business and economic opportunities for Malaysians, including providing equal opportunities to Bumiputera professionals in the corporate sector. Since PNB’s establishment, more than RM172 billions of cumulative dividends had been paid out to unit holders, he said. Last year, the dividend and bonus distribution for ASB, as well as other ASNB unit trusts amounted to a payout of RM14.4 billion.
Malaysia has low youth unemployment rate – Idris Jusoh
Higher Education Minister Datuk Seri Idris Jusoh said the youth unemployment rate in Malaysia is lower than that of New Zealand and Australia. He said the rate of unemployment of the 15-24-year-olds in Malaysia was 12.4 per cent compared to 14 per cent in New Zealand, 12.5 per cent in Australia, 13.5 per cent in the Philippines and 19 per cent in Indonesia. “The rate of marketability of graduates in this country is 79.1 per cent,” he said at the Dewan Rakyat. Datuk Seri Idris said the success in marketability was achieved through the collaboration of the ministry with the industries in ensuring there was no separation between the academia and industries, thus generating graduates who met the expectations of the industries.
Government drafting ceiling price for domestic airfares
Deputy Transport Minister Datuk Ab Aziz Kaprawi said the government was in the midst of drafting the ceiling price to control the airfares for domestic flights. through the Malaysian Aviation Commission (MAVCOM). He expects the ceiling price plan to be completed before the middle of this year. He said the move follows complaints received on the expensive flight tickets especially during the festive seasons, apart from the study carried out by MAVCOM that showed five-fold increase of airfares during the period. He pointed out that currently the government did not set any rule regarding the fare and allowed the airlines to set the fare based on their respective commercial decisions.
Asia School of Business signs MoU with Hanyang University
Asia School of Business’s (ASB) innovative curriculum and Malaysia’s experience in promoting an entrepreneurial ecosystem has led to the signing of a Memorandum of Understanding (MoU) with Hanyang University of South Korea aimed at promoting further academic cooperation between both institutions and nations. The Korean delegation was in Kuala Lumpur to attend a joint program with ASB titled “Management, Innovation and Entrepreneurship”. In order to expose students and faculty to high performing firms and universities, the Graduate School of Technology and Innovation Management at Hanyang University conducts an annual training program abroad that has seen the organization visit Stanford University, the Fraunhofer Institute in Germany and Cambridge University. “The topic is about innovation policy and practices but every year we explore different ecosystems and regional particularities. This year, for the first time, we explored the ASEAN region and Malaysia. ASB’s curriculum and relationship with MIT Sloan School of Management was a natural partner for such a joint program,” explains Jieun Kim, chair of the department. The program included visits to the Malaysian Global Innovation & Creativity Centre (MaGIC), iFlix and Catcha Group with lectures and workshops from both institutions that address design thinking principles and different aspects of innovation and entrepreneurship, including supply chain, governance, data analytics and branding.