KUALA LUMPUR: Ominent Sdn Bhd via its flagship brand IGL Coatings, reputed as being a leader in automotive detailing solutions, has embarked on an exciting new chapter through a strategic alliance with the CommerceDotAsia Ventures Sdn Bhd (‘Commerce.Asia’) group, one of Malaysia’s leading ‘end-to-end’ e-commerce ecosystem enablers.

This dynamic partnership is set to elevate IGL Coatings’ online presence to new heights, setting the stage for exponential growth in 2024 and beyond.

The collaboration between IGL Coatings and Commerce.Asia focuses on leveraging the vast potential of Shopee and Lazada, the predominant e-commerce platforms in Malaysia which is said to command 69% of the nation’s market share.

“The e-commerce user base is forecasted to surge from 9.6 million in 2023 to 11 million by 2025 is SEA. This partnership is strategically positioned to capitalise on the burgeoning digital marketplace in Malaysia and South East Asia,” said IGL Founder Keong Chun Chieh.

According to market research firm Statista, the number of users in the e-commerce market in Malaysia was forecast to continuously increase between 2024 and 2029 by in total 6.3 million users (+46.09 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 19.98 million users and therefore a new peak in 2029.

Reaching New Heights Together

Keong said that his company’s partnership with Commerce.Asia marks a significant milestone in its expansion journey.

“This partnership is timely with the high growth we’ve been experiencing” said Keong.

IGL Coatings was recognised by the Financial Times in 2023 and 2024 as one of only two high growth manufacturing companies in Malaysia within the Asia-Pacific region.

Keong added: “By harnessing their expertise as an all-in-one e-commerce ecosystem, we are poised to scale our operations by at least 3 times. Also to cater to the evolving needs of our customers. Commerce.Asia has proven itself to be one of the best service providers and we look forward to embarking on this journey together”.

Similarly, Kuna Kathigesan, CEO of Commerce.Asia (left in pic), highlighted the immense potential of Southeast Asian markets, remarking: “The allure of Southeast Asia’s burgeoning e-commerce landscape cannot be understated. We see tremendous opportunities for growth and innovation. Additionally, on top of the potential in the local market, IGL Coatings’ existing global presence accords an opportunity to expand regionally”.

Commerce.Asia is renowned for enabling local businesses to broaden their reach and enhance their market share within the regional market. Its comprehensive ecosystem has been designed to empower entrepreneurs and business owners, by offering tools and services that are crucial for navigating the complexities of the digital marketplace.

“From facilitating seamless integration of digital operations like e-commerce functionalities, payment processing, and logistics solutions, Commerce.Asia paves the way for businesses to thrive while also broadening business opportunities beyond local borders” said Kuna.

Beyond Marketplaces: Commerce.Asia’s Webstore and Social Commerce Solutions

The group also offers Live Streaming and Short Video Production tools as part of its Social Commerce initiative via Xamble Live to enhance interactive customer engagement.

“Our platform provides precise data analytics for strategic decision-making, helping businesses adapt their products and marketing to regional needs efficiently. Additionally, our webstore capabilities are crucial, as we focus on building and scaling sales on webstores in addition to marketplaces,” added Kuna.

The holistic approach of Commerce.Asia not only eases the digital transition for businesses but also ensures their sustained growth and a strong regional footprint. Presently serving four countries, the Commerce.Asia group is set to expand its services to the three other countries in Southeast Asia. Further broadening its impact and support for regional businesses.

Forging Soon To Be Unicorns in the Malaysian Eco-system

This partnership was forged through the shared participation of Keong and Kuna in the Soonicorns Collective facilitated by Proficeo and Penjana Kapital.

The Soonicorn Collective is an exclusive community platform for Malaysia’s Best CEOs to leverage on their knowledge, networks and experience to build better leaders, companies and ecosystem. It is through this Collective that Keong and Kuna first crossed paths, sharing a vision of innovation and disruption in their respective industries.

Dr. Sivapalan Vivekarajah, Co-Founder of Proficeo and Chairman of the Collective, praised the collaboration, saying, “The partnership between IGL Coatings and Commerce.Asia exemplifies the spirit of innovation and collaboration that drives Malaysia’s entrepreneurial ecosystem. By harnessing their respective strengths, they are poised to make significant strides in the e-commerce space, setting a new standard for industry excellence. This is the vision of the Soonicorn Collective, where the best Malaysian startups work together to build better, stronger companies to drive the Malaysian economy forward.”

Meanwhile, MDEC Senior Vice President Gopi Ganesalingam commented on the potential of the parties and the e-commerce tech space, stating, “IGL Coatings and Commerce.Asia represent the vanguard of Malaysia’s burgeoning e-commerce industry. Their partnership underscores the immense potential of our local entrepreneurs to drive innovation and transform Malaysia into a regional hub for e-commerce excellence.”

In addition to their ambitions in Southeast Asia, both companies are committed to fostering innovation and driving transformative change within Malaysia’s e-commerce ecosystem. With their combined expertise and unwavering commitment to excellence, IGL Coatings and Commerce.Asia are poised to redefine the boundaries of success in the digital age.

About IGL Coatings

IGL Coatings is a global market leader in the development and manufacturing of innovative surface protection solutions. With a strong commitment to research and development, IGL Coatings creates industry-leading coatings that deliver exceptional durability, enhanced aesthetics, and environmental sustainability. Trusted by professionals and enthusiasts worldwide, IGL Coatings is dedicated to revolutionising the automotive, marine, and industrial sectors with cutting-edge technologies and unparalleled customer support.

About Commerce.Asia

Commerce.Asia is an all-in-one e-commerce ecosystem that integrates best-of-breed technology solutions, talent development programmes and big data insights, specifically designed to empower South East Asian businesses to succeed online. Our platform stands at the forefront of digital innovation, offering a holistic suite of services that streamline the transition to digital commerce, enhance operational efficiency, and expand market reach.

Our offerings include Social Commerce tools and a customisable webstore platform, each designed to provide businesses with robust options for engaging with customers directly and building their online presence effectively. CommercePay, our secure payment gateway, offers seamless and secure payment processing options designed to optimise transaction efficiency and enhance customer trust in the digital shopping experience. Commerce.Asia is dedicated to driving the success of South East Asian businesses in the global digital economy.

For media inquiries, please contact:

Fiona Chin
Co-Founder, IGL Coatings
Email: media@iglcoatings.com

Michael Ang
Consultant for Commerce.Asia
Email: mike.ang@alconsulting.asia