Skip to main content

2GO Group plans to build its own e-commerce

2GO Group Inc. plans to develop its own e-commerce platform. 2GO Chairman Dennis Uy said the company is currently serving external customers and the company also wants to develop its own e-commerce business that has grown rapidly in recent years and has shifted some of the traditional retail market share in the Philippines.

Tinuku 2GO Group plans to build its own e-commerce

The logistics company based in Metro Manila said it would build its own e-commerce business that has strong resources to participate in the competition. Uy at the company's annual shareholders' meeting last week said 2GO is running a strong growth.

"Growth is outside Metro Manila, in major cities in Visayas and Mindanao The growth of 2GO will reach even higher," said Uy,

Uy said 2GO offers an integrated supply platform with 24 fleet ships, serving 4.3 billion passengers and transferring 329,000 TEUs annually. Bright prospects of the country's economy will result in an increasingly brighter 2GO prospects.

"The e-commerce section, we have delegated to SMIC.They have a store format. We work very well with them. We serve external customers, but we do not have it. We are developing it ourselves," said Uy.

The majority of 2GO Group shares are owned by Uy's Chelsea Logistics and SM Investments Corp (SMIC) and both have searched for how 2GO can become an e-commerce platform. SMIC vice chairman Teresita Sy-Coson said it would review the move forward.

"That's something we're still learning," said Sy-Coson.

The booming e-commerce business has become a threat to offline and traditional stores. Now many are setting up their own online business platform. Sy-Coson said any further expansion, the logistics field will be done through 2GO.

"So far, it's okay, the old management has done well, it's not much of a distraction. We're going to look into the future. There are many people who say logistics is the business of the future, but we do not know yet. We're here soon to learn," says Sy-Coson.


Popular posts

Conservative cleric vice president candidate of Indonesia, abstentions rose

Tinuku - Indonesian President Joko Widodo chose an elderly Muslim cleric Ma'ruf Amin as vice presidential candidate for the 2019 presidential election to become a red record for human rights activists. The figure who actively strives to criminalize minorities and sexuality is seen as a way to reverse human rights enforcement.

Lokataru's director, Haris Azhar, is still campaigning not to elect the presidential and vice presidential candidates. The declaration of two candidate pairs, especially the choice by Joko Widodo to Ma'ruf Amin as vice president and presidential candidate Prabowo Subianto on Sandiaga Uno as vice president, strengthened the minds of human rights activists.

"It's still the same. In fact, it is increasingly proven. From a human rights perspective, all candidates are violators of human rights. So I think the four candidates are the same, not friendly to human rights, not friendly to the environment," said Azhar told to Deutsche Welle Indones…

Ant Financial entered Indonesia in partnership with Emtek

Tinuku - Alibaba Group’s Ant Financial Services is making its first foray into Indonesia with plans to launch a new mobile platform for payment and other financial services in partnership with a local firm.

Ant Financial, operator of China’s popular online payment platform Alipay, announced on Wednesday that it will set up a joint venture with Indonesian digital company Emtek.

Without disclosing the size of the investment, the two companies said the joint venture will leverage Ant Financial’s experience and know-how in mobile payment, digital financial innovations, risk control and cloud computing.

To begin with, the new payment platform will be offered on BBM, Indonesia’s most commonly used messenger application, which is operated by a subsidiary of Emtek and has a user base of over 63 million monthly active users.

“Ant Financial has proven know-how in delivering payment and other financial solutions to a large and growing mobile audience in China and enabling its partners globally, …

Samsung Bioepis and Takeda plans clinical trials new drug

Tinuku - Samsung Bioepis said Monday that it plans to soon start phase 1 clinical trials for its first new drug candidate in development with Japan’s Takeda Pharmaceutical, setting a fresh milestone in the South Korean drugmaker’s push into new drug development.

The therapeutic candidate, SB26, also known as TAK-671, is an ulinastatin-Fc fusion protein to treat severe acute pancreatitis. It is the first result of the new drug development collaboration partnership signed by the two companies in August 2017. Samsung Bioepis spokesperson confirmed the upcoming clinical trials will be held in the US only, though the exact start date for the trials remain undisclosed.

Samsung Bioepis said, the study, randomized, double-blind, placebo-controlled and involving single and multiple dose escalation, will assess the safety, tolerability and pharmacokinetics of intravenous injections of SB26 in healthy volunteers. The results of the study are expected in the third quarter of 2020.

“The upcoming c…

Indonesia eyes plan to help startups expand across southeast Asia

Tinuku - Indonesia wants southeast Asian nations to cooperate in helping startups in the region worth at least $1 billion expand outside their home countries, the communication minister said on Friday. The effort aims to keep foreign startups from dominating a market of 640 million people by assisting the region’s estimated seven to ten unicorns, or companies that have attained a valuation of $1 billion without tapping the stock markets.

“I’ve discussed this strategy with other ministers in Southeast Asia and have offered to everyone to adopt existing unicorns and have a presence in each other’s countries,” Minister of Communication Rudiantara said in an interview.

“I’m really passionate about the issue and have discussed it at our last Association of Southeast Asian Nations ministers’ meeting,” he said at his office, adding that he would discuss the matter again at the next meeting of ASEAN ministers in Bali.

The suggestion drew a positive response from ministers from Thailand and Si…