The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.
KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) is collaborating with local e-commerce platform Avana to increase exports of Malaysian Small and Medium Enterprises (SMEs) via e-commerce and social media.
Chief Executive Officer Mohd Shahreen Zainooreen Madros said the partnership targets 2,000 local merchants and brand owners who are export-ready to market their products.
“This is aimed at empowering businesses to break into the digital economy and with the addition of Avana as the new e-commerce platform under the eTrade Programme, we believe there will be more opportunities for SMEs to kickstart their venture into cross-border e-commerce,” he said in a statement today.
The eTrade programme is part of Matrade’s initiatives to increase the export contribution of SMEs from the current 17.8 per cent to 23 per cent by 2020.
Shahreen also said that by leveraging the power of e-commerce and social media as well as Malaysians’ high level of engagement in both e-commerce and social media, this initiative can help expand the pool of exporters.
“Matrade is always open to working with the private sector to push our local brands overseas. This collaboration is good as it eases access to global markets using a mechanism most entrepreneurs are familiar with,” he said. - Bernama
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