KUALA LUMPUR, June 20 — Global shipping and logistics company United Parcel Service is set to expand its retail presence in Malaysia this year amid a boom in e-commerce by partnering with ParcelHub.
“Notwithstanding the near-term impact of the Covid-19 pandemic resurgence, Malaysia has strong long-term growth fundamentals and these fundamentals bode well for many small and medium enterprises that support industries along the value chain. Bank Negara Malaysia governor Datuk Nor Shamsiah Mohd Yunus revealed last month that the online retail sales index averaged at about 33 per cent between March and December last year, versus 22 per cent at the start of 2020.
Elaborating on Malaysia’s economic landscape, he said the country has made inroads in electrical and electronics products, which remained its top export earner in 2020. “On our part, we have implemented customised solutions for businesses of any size. For example, to boost Malaysia’s electronics manufacturing, we’ve developed capabilities to move expensive semiconductor shipments halfway around the world with almost zero sorting to move quickly and eliminate any damages,” he said.