Alibaba Group, one of the ten biggest and most valuable companies in the world, has taken root on Malaysian soil. The Chinese conglomerate behind the popular online shopping website Taobao has opened its first Southeast Asian office in Kuala Lumpur. The office will also act as Alibaba’s first Electronic World Trade Platform (eWTP) facility outside China.
Located in Bangsar South, the office was officially opened yesterday (18 June) and was officiated by Jack Ma, co-founder and executive chairman of the company. The event was also attended by Finance Minister Lim Guan Eng, Communications and Multimedia Minister Gobind Singh Deo, as well as Chinese ambassador Bai Tian. Ma also took the opportunity to meet the new Prime Minister, Datuk Seri Dr Mahathir Mohamad, before the event.
With its presence here, Alibaba is looking to enable the growth of small and medium enterprises (SMEs) and create more employment opportunities in Malaysia. “Alibaba is committed to improving the digital economy of Malaysian entrepreneurs who want to change their business concept in order to enhance their business internationally,” said Ma during his speech. He also mentioned that the new office will function as a training centre.
To mark the occasion, Alibaba has launched a Malaysia Week online promotion from 6–12 July with the aim of highlighting Malaysia’s tourism attractions and products to Chinese customers. The campaign will showcase over 50 Malaysian brands across a wide range of categories on Alibaba’s platforms.
The above initiatives are part of Alibaba’s strategic partnership with Malaysia and its ongoing commitment in expanding digital economy in the nation and region, with Ma speaking confidently of a sustained trade relationship between Malaysia and China. Looking ahead, Finance Minister Lim Guan Eng said that Alibaba’s continued initiatives in the country would open new investments, new job opportunities, and boost the local economy.
I dont know why people here keep saying shark here shark there. 8% is a modest growth. Anything above that can be a real goreng. So those who got the goreng up to 0.39, has already sold off by contra. Whatever left is majority long term looking for that 0.50 gold...LOL
XOX Bhd has formed a strategic collaboration with Alipay Labs (Singapore) Pte Ltd, an affiliate of Chinese billionaire Jack Ma's Ant Group Co Ltd, to offer blockchain-based solutions in Asia Pacific including Malaysia. KUALA LUMPUR: XOX Bhd has formed a strategic collaboration with Alipay Labs (Singapore) Pte Ltd, an affiliate company of Chinese billionaire Jack Ma's Ant Group Co Ltd, to offer blockchain-based solutions in the Asia Pacific region including Malaysia.
Alipay is the largest player in China's 430 trillion yuan third-party mobile payments market, according to the market research firm Qianzhan.
In a filing with Bursa Malaysia, XOX said its wholly-owned XOX Wallet Sdn Bhd had on August 24, entered into an agreement with Alipay Labs for the blockchain solutions.
XOX, a mobile network service provider, said the agreement with Alipay Labs was effective from August 24 this year for three years.
The signing of the agreement with Alipay Labs seems timely given that Ant Group will launch an initial public offering (IPO) this year.
Ant Group, the payment- and finance-focused sister company of the Chinese e-commerce titan Alibaba founded by Ma, recently announced plans to float on the Hong Kong and Shanghai stock exchanges in a move that could value the company at US$225 billion.
It was reported that Ant Group could raise up to US$30 billion in the flotation, making it the world's largest IPO, overtaking the US$25.6 billion raised in the Saudi Aramco IPO in December 2019.
Shares of XOX attracted heavy interest today.
It rose 4.5 sen or 18 per cent to reach a four-year high of 30 sen in afternoon trade.
The stock closed 29.5 sen.
It was also the most active stock on Bursa Malaysia with around 563.1 million shares traded.
XOX said the agreement with Alipay Labs would not have any effects on the share capital and shareholding structure of the company.
It is also not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of XOX for the financial year ending September 30, 2020.
XOX said the agreement, being incurred in the ordinary course of business, was also not subject to the approval of the shareholders.
for long term trade, look at monthly chart. July and Aug both price up and volume green. If no volume counter, then better keep $ in fd.................
Particulars of substantial Securities Holder Name DATUK CHAI WOON CHET Nationality/Country of incorporation Malaysia Descriptions (Class) Ordinary Shares Details of changes No Date of change No of securities Type of Transaction Nature of Interest 27 Aug 2020 30,000,000 Acquired Direct Interest Name of registered holder Datuk Chai Woon Chet Description of "Others" Type of Transaction
Circumstances by reason of which change has occurred Acquired of shares Nature of interest Direct Interest Direct (units) 152,833,400 Direct (%) 6.17 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0 Total no of securities after change 152,833,400 Date of notice 27 Aug 2020 Date notice received by Listed Issuer 27 Aug 2020
how long the company need to annunce when a substanstial holder acquire the share from the company? is this dato chai 30m acquire today ? or last few day?
u get ali labs to offer to you lo investor_lauzy ..... u need to have some kind of record before ppl even consider letting you run the business and product
Ive been long in this counter, i knw people investing in here some of them really believe with this company. I do. I also selalu goreng punya but with this counter, I’ve been holding for quite some time. I do believe it can reach RM1
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OracleOfOmaha
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Posted by OracleOfOmaha > 2020-08-27 16:57 | Report Abuse
Alibaba Group, one of the ten biggest and most valuable companies in the world, has taken root on Malaysian soil. The Chinese conglomerate behind the popular online shopping website Taobao has opened its first Southeast Asian office in Kuala Lumpur. The office will also act as Alibaba’s first Electronic World Trade Platform (eWTP) facility outside China.
Located in Bangsar South, the office was officially opened yesterday (18 June) and was officiated by Jack Ma, co-founder and executive chairman of the company. The event was also attended by Finance Minister Lim Guan Eng, Communications and Multimedia Minister Gobind Singh Deo, as well as Chinese ambassador Bai Tian. Ma also took the opportunity to meet the new Prime Minister, Datuk Seri Dr Mahathir Mohamad, before the event.
With its presence here, Alibaba is looking to enable the growth of small and medium enterprises (SMEs) and create more employment opportunities in Malaysia. “Alibaba is committed to improving the digital economy of Malaysian entrepreneurs who want to change their business concept in order to enhance their business internationally,” said Ma during his speech. He also mentioned that the new office will function as a training centre.
To mark the occasion, Alibaba has launched a Malaysia Week online promotion from 6–12 July with the aim of highlighting Malaysia’s tourism attractions and products to Chinese customers. The campaign will showcase over 50 Malaysian brands across a wide range of categories on Alibaba’s platforms.
The above initiatives are part of Alibaba’s strategic partnership with Malaysia and its ongoing commitment in expanding digital economy in the nation and region, with Ma speaking confidently of a sustained trade relationship between Malaysia and China. Looking ahead, Finance Minister Lim Guan Eng said that Alibaba’s continued initiatives in the country would open new investments, new job opportunities, and boost the local economy.