Malaysia's SealNet joins the battle to lead in cross-border trade facilitation
CEO Chong Yoke Ching said SealNet is keen to become a leader in the facilitation of cross-border trade by making the process easier and faster, and also to provide end-to-end visibility, while ensuring the safety and security of digital transactions via its cloud-based online portal, SealNet, which was launched in August last year.
About 500 customers are currently utilising the SealNet platform and the number is expected to double this year.
Chong said a mobile version of the SealNet portal is also avail-able soon for the convenience of exporters and importers, adding that the portal also provides an electronic marine cargo insurance quotation service through its partnership with four insurance companies.
Additionally, SealNet also offers financing facilities for exporters and importers through its partnership with two banks.
To further improve its network and offerings, SealNet is currently in talks with several other local and international insurers and three banks to offer seamless cross-border transactions.
This initiative, said Chong, can help Malaysian exporters find alternative sources and ease the financing burden in the middle of the global Covid-19 challenge.
“Digitalisation is very much about the end user, especially in the logistics industry.
“Importers, exporters, forwarders, shipping lines, hauliers, they all have their respective in-house system for internal operations but all of them have one thing in common, the need to have the same information to complement the operation and analytics requirements.
“For example, the information in the invoice from exporters or traders can be used to generate a shipping manifest or flight manifest, customs declaration, permit or even insurance or trade finance applications,” she told Bernama in an interview.
With that in mind, SealNet was developed to bridge the global supply chains to trade facilitation and logistics, to allow all parties to digitise and share information from the source, she added.
The company is collaborating with several partners from six countries to establish a mechanism for logistics data exchange and information sharing, interchange and technical cooperation for smoother cross-border trade.
“We have a partner in both Singapore and China, a subsidiary in Thailand and an associate company in Indonesia,” she said, adding that the SealNet portal will also be rolled out to other South-East Asian countries in several phases. VIEW ARTICLE
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