SGshop launched its inaugural ECF to raise RM 500K
Focus Malaysia | 13 Sep 2018 17:24
SGshop, Johor’s foremost online quality assured cross- border shopping site, www.sgshop.com.my, has launched its inaugural Equity Crowdfunding (ECF) campaign to raise RM500,000 through Ata Plus, a registered ECF operator. The campaign launch is officiated by YB Jimmy Puah Wee Tse, Johor State EXCO in International Trade, Investment and Utility.
Plans are in place for SGshop to expand its market reach beyond Malaysia to tap into the ASEAN market with a combined population of over 630 million and an aggregate size surpassing US$2.5 trillion in 2016.
Unlike many other online shopping sites, SGshop aims at tackling common issues faced by online shoppers specifically product quality, shipping and delivery. SGshop addresses this by providing product quality assurance services and cost competitive shipping options. Established in 2015, SGshop has served 70,000 users thus far from its humble beginnings of 6,000 users in the first year of operations. Users have also rated a 95% customer satisfaction for SGshop’s services - proof of its undivided commitment to guaranteeing shoppers are protected online.
In 2017 according to UPS, 75% of online shoppers have returned purchased items to retailers; a 7% increase from its previous year. Additionally, other studies have shown that over 85% of consumers want a convenient returns policy, whilst 56% seeks for affordable return shipping option. SGshop’s competitive advantage stems from the fact that they take pride on safeguarding purchases by thoroughly inspecting products ordered and ensuring products ordered are indeed the correct item, in good condition, and not prohibited to enter Malaysia.
“E-commerce in the region is growing rapidly given ASEAN’s huge population and growing middle class, but retailers need to address shortcomings on the customer front to ensure businesses reach its full potential. This is why SGshop prides itself as a trusted and reliable platform for Malaysians to purchase products from China. Product quality is our utmost priority,” said Lua Cheong Hong, Co-founder and Director of SGshop Ecommerce Sdn Bhd. “We are eyeing further expansion by strengthening our market share in Malaysia, emerging as the premier gateway for safe international online shopping; a subsequently penetrating regional and international markets,” added Lua Cheong Rui, Co-founder and Chief Operating Officer of SGshop.
“Many young businesses are turning to Equity Crowdfunding as an ideal way to expand and grow their companies. It is a ground-breaking way to allow businesses to acquire significant capital and validates SGshop as a sustainable business model.” said Kyri Andreou, Director of Ata Plus.
Recognised as a revolutionary way to raise capital, Malaysia is at the forefront of ECF in ASEAN with the Securities Commission introducing a regulatory framework to facilitate ECF platforms; and Ata Plus is proud to be SGshop’s trusted choice for this capital-raising initiative. The funds raised in SGshop’s ECF investment round will be used to enhance its technology infrastructure, in upscaling its logistics capabilities, in expanding its product range and marketing initiatives.
For more information on the company and this investment opportunity, please visit www.ata-plus.com/deals/sgshop
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