Xin Hwa Holdings Bhd launched its e-commerce platform www.e5buy.com recently, a proprietary business-to-business (B2B) online platform offers more than 1.8 million products by some 75,000 suppliers.
This mirrors the offerings at the Yiwu Commodity Market located in the province of Zhejiang, China, which is known as “The Largest Wholesale Market in the World” by World Bank and Morgan Stanley.
The Yiwu Commodity Market is located in Yiwu, a city in the central Zhejiang province. The market spans across an enormous 59 million square feet of space, differentiated into 5 district areas.
It ships more than 570,000 containers worldwide annually to over 200 countries.
To recap, Xin Hwa had completed its acquisition of 50.01%-stake in Yiwugou Ecommerce Sdn Bhd (YESB) on 30 March 2017.
YESB is involved in operating an e-commerce platform (www.e5buy.com) and has entered into a cooperation agreement with Zhejiang Yiwugou E-commerce Co., Ltd., giving YESB the rights to use the “Yiwugou” branding and full access to the product and supplier database of Yiwu Commodity Market on YESB’s e5buy.com platform in Malaysia for the next 10 years.
At the same time, as e5buy.com is developed by YESB, it has full intellectual property ownership of the e-commerce platform.
www.e5buy.com is now live and available to the public.
The platform offers a convenient and efficient B2B purchasing channel offering products at wholesale prices and aims to serve a wide range of clientele, ranging from small traders to large trading houses or retailers.
The online platform provides several unique features that include pricing in Ringgit despite sourcing from China, free delivery services from China to customers’ doorsteps with its all-in pricing policy, settlement via local payment gateway as well as localized customer service support.