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Singtel partners with e-commerce site Lazada Singapore

Singtel has teamed up with e-commerce company Lazada Singapore to launch an online platform dedicated exclusively to small and medium enterprises (SMEs). The listings portal – dubbed the 99% SME e-marketplace – will allow only small and local businesses to advertise and post products on it.

The partnership follows a report by the Singapore Government’s Committee on the Future Economy that said SMEs should receive greater financial assistance to boost their digital offerings. The report claimed that SMEs form 99 per cent of registered companies in Singapore.

German-owned company Lazada is reputedly South East Asia’s biggest e-commerce platform, with a foothold in markets including Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam

Last May, Chinese giant Alibaba acquired a stake in in the company for US$1 billion, giving it significant control of the South East Asian market. Just months later, Lazada bought Singapore-based online grocer RedMart.

Lazada’s chief executive officer Alex Lanternier insisted that advertisers would have access to the website’s potential pool of 3.5 million visitors. He added: “As a marketplace we want to equip our sellers, many of whom are SMEs, with the best tools available in Singapore to help them succeed.”

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