M'sia Poised For E-Commerce Growth Via Better Mobility & Internet

KUALA LUMPUR, Dec 15 (Bernama) -- Malaysia is poised for e-commerce growth through better mobility, improved internet and enhanced security, backed by growing e-commerce market, 11street said. Its Chief Executive Officer, Hoseok Kim said over the past five years (2010-2014), Malaysia's e-commerce market size increased 31 per cent in compound annual growth rate. "Viewed from a logical standpoint, we anticipate it will follow a similar growth rate and hit US$3.1 billion by 2018," he said in a statement Tuesday. Kim said 11street foresees mobility, better internet and logistics, and security to be the three key drivers triggering local e-commerce development in 2016. He said at present, there were 252.4 million internet users in Southeast Asia, with Malaysia emerging as the third country recording the highest percentage of internet users at 67 per cent after Singapore and Brunei. "Leveraging on the rise of Internet usage, 2015 has indeed been a fruitful year for all online businesses and e-commerce as Malaysia recorded one of the highest online transactions per capital in Southeast Asia," Kim said. He said the mobile penetration in Malaysia had reached 136 per cent this year, and the growth of connected devices had paved the way for a positive increase in the e-commerce sector, with 47 per cent of Malaysians using smartphones to shop online. -- BERNAMA