Aladdin Group Invests US$5 Million In Halal E-Commerce Site

KUALA LUMPUR, Jan 27 (Bernama) -- Malaysia-based e-commerce company, Aladdin Group of Companies, has invested US$5 million (US$1 = RM4.25) to establish aladdinstreet.com.my -- the country's first exclusive Halal and Shariah compliant e-market shopping platform. Group Co Founder Dr Sheikh Muszaphar Shukor said the e-commerce site, expected to be launched by month-end, would cater to pharmaceutical, fashion, cosmetics and beauty, food and beverage, banking and finance services. "In the next three years, the e-commerce platform, with a target of 1,500 merchants, would provide 30,000 products online", he told reporters after the soft launch of aladdinstreet.com.my by former Malaysian prime minister Abdullah Ahmad Badawi here Wednesday. On merchants' participation in the online shopping site, Skeikh Muszaphar, who is also the country's first astronaut, said it would be done by invitation only. He said the company was also targeting both Muslim and non-Muslim markets in more than 30 countries around the globe, including India, Europe, China, Indonesia and the Middle East. Meanwhile, Aladdin Group Executive Director Azizi Meor Ngah said the company was expected to invest about US$100 million over the next three years on marketing and promotional activities outside the Malaysian market. An international e-platform -- Aladdinstreet.com -- which would cater to the global marketplace, would be launched in the second quarter of 2016. --BERNAMA