The Singapore-based consumer electronics platform specialising in addressing full circular practices with its Shop, Own, and Dispose lifecycle for home appliances and consumer electronics, Ximple, has inked a Memorandum of Understanding (MoU) with eight strategic partners in Malaysia.
The MoU commemorates Ximple’s recent expansion into Malaysia and marks a collaborative effort to create a one-stop electronics hub that champions affordable, conscious consumption.
These 8 Malaysian partners are: Fictron, APR, Home+, Seemedia, TBM, Aihome, Design Plus, and Lau (International) Distribution.
With a mutual goal of creating a circular economy and sustainable business ecosystem in Malaysia, these partners will be making their products and services available at exclusive rates on Ximple’s platform, while also integrating Ximple’s sustainability-first “Shop, Own, Dispose” modus operandi into their customer journey.
The signing of MoU took place on 6 August 2022 at Starling Mall, Petaling Jaya, and was signed by Wong Wai Jeat, CEO and Founder of Ximple; Tan Wai Keat, CEO of TBM; Shaw Tan, Co-Founder of Aihome; Danny Ng, CEO of APR; Chew Cheng Yen, CEO of Home+; Alvin Craton Wong, CEO of Seemedia; Dr Keith Ooi, CEO of Fictron; and Dr Steven Lau, Chairman of Lau
(International) Distribution and Zoron Koh, Director of Design Plus. The occasion was attended by many of Ximple’s supportive stakeholders and partners including KT Soon, Founder of WISE Holdings, who was one of the earliest investors of the company.
“E-waste management is quickly becoming a formidable challenge in Southeast Asia, particularly Malaysia, where e-commerce growth and consumption of technological devices continues to be the region’s highest each year. Ximple feels strongly about growing our presence here, especially as Malaysia actively works towards transitioning to a circular economy model, as outlined in the 12th Malaysia Plan (12MP),” Wai Jeat, CEO and Founder of Ximple said.
“Together with our local partners, Ximple will focus on driving this initiative forward by delivering a full-circle product ownership experience for consumers in the electronics and home appliances sector, while helping local merchants build and practise a more sustainable consumer electronics ecosystem,” he added.
Through the collaborative network and community endorsed by Ximple, consumers will enjoy exclusive deals and packages for all products and services offered by these partners — all in a healthier, more sustainable product life cycle that comes with eco-friendly disposal options. The partnership will also assist the brands in marketing their wares to a wider audience via strategic marketing channels.
Ximple’s eight partners will each play different, specialised roles in supporting the collective endeavour to drive a circular economy.
The strategic partnerships will also pave the way for the enhancement of Ximple’s super app, integrating upgrades and improved solutions at all levels of its separate sections: Xstore, its primary marketplace that specialises in offering tech consumers with exclusive deals of electronics from authorised dealers; Xboost, their data analytics solution for their partners; and Xircle, an exclusive in-house membership programme.
Moving forward, Ximple is looking to expand its footprint in Malaysia and further develop the platform through an equity crowdfunding (ECF) campaign with Fundnel. The platform aims to match the success of its last fundraising round, which raised a total of US$1.2 million from private investors. The funds will be utilised to help Ximple grow its local presence via industry partnerships, marketing initiatives, and audience research.
