Ominent Sdn Bhd via its flagship brand IGL Coatings (IGL Coatings), a renowned automotive detailing solutions player, recently finalised 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 partnership aims to elevate IGL Coatings’ online presence to further drive its e-commerce activities regionally. It 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.
This partnership was made possible through the Soonicorn Collective initiative, facilitated by Proficeo and Penjana Kapital, and made possible through contribution from the Malaysia Digital Economy Corporation (MDEC). The initiative serves as an exclusive community platform for selected CEOs “to leverage on their knowledge, networks and experience to build better leaders, companies and ecosystem”. It was through this Collective that Keong and Kuna first crossed paths, sharing a vision of innovation and disruption in their respective industries.
Co-founder of Proficeo and chairman of the Collective Dr Sivapalan Vivekarajah (middle right in pic) said that this 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,” said Dr Sivapalan.
Meanwhile, MDEC Senior Vice President Gopi Ganesalingam (middle left in pic) 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.”
IGL Coatings founder Keong Chun Chieh (right in pic) said that this partnership is “timely with the high growth we’ve been experiencing”. 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.
“The e-commerce user base is expected to surge from 9.6 million in 2023 to 11 million by 2025, and this partnership is strategically positioned to capitalise on the burgeoning digital marketplace in Malaysia and South East Asia,” he added.
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.
Keong said that his company’s partnership with Commerce.Asia marks a significant milestone in its expansion journey.
“By harnessing Commerce.Asia’s expertise as an all-in-one e-commerce ecosystem, we are poised to scale our operations by at least 3 times. Commerce.Asia has proven itself to be one of the best service providers and we look forward to embarking on this journey together,” added Keong.
Meanwhile 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.
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.
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.
