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KUALA LUMPUR: Financial tech innovator Neurogine MPEX (C) Ltd has partnered Myanmar’s CB Bank PCL to revolutionise the merchant onboarding process using mobile-centric platform, Neurogine nMerchant. Neurogine Chief Executive Officer, Owen Chen said the collaboration aims to drive Myanmar’s economic growth by supporting micro, small and medium-sized enterprises (MSMEs), which contribute 36% to the country’s gross domestic product (GDP). He said with MSMEs representing 99.4% of businesses in Myanmar, the partnership focuses on enhancing their access to financial services through mobile technology. “By streamlining the merchant registration process, Neurogine nMerchant enables CB Bank to rapidly onboard new businesses, providing them with easier access to financial services,” said Chen in a statement. He said the platform significantly reduced paperwork, accelerating turnaround times and improving efficiency for CB Bank and its merchant partners. He added that the nMerchant platform allows merchants to accept payments using quick response (QR) codes and integrates with Neurogine n2Tap, Malaysia’s first software point-of-sale solution certified by the Payment Card Industry Security Standards Council. “With an intuitive interface, the platform supports CB Bank to acquire and manage merchants while enhancing customer experiences. “In addition to improving efficiency, Neurogine nBank enables CB Bank to adopt a data-driven decision-making approach, reducing operational costs and mitigating risks,” Chen said. He said mobile device registration eliminates the need for physical bank visits, expanding access to financial services in regions such as Mandalay, Ayeyarwady, Bago, Sagaing, and Yangon. CB Bank Managing Director (Head of Merchant Services) U Zayar Aung, highlighted the collaboration’s role in advancing Myanmar’s digital transformation. “CB Bank is committed to supporting the growth of Myanmar’s MSMEs, and this partnership with Neurogine MPEX is a significant step forward,” he said. “We are confident that Neurogine nMerchant will be a game-changer for the Myanmar market,” he said. CB Bank, established in 1992, is one of Myanmar’s largest banks, employing 9,000 people and operating 220 branches. It was the first in Myanmar to offer Visa and Mastercard transactions at ATMs and introduced Internet banking services for businesses. — BERNAMA

KUALA LUMPUR: Bursa Malaysia’s fundamentals remain strong, even as global equities fall in response to a softer-than-expected US jobs report that heightened recession fears. UOB Kay Hian Wealth Advisors Sdn Bhd Head of Investment Research, Mohd Sedek Jantan said the global rout was merely due to panic selling and overreaction among investors, with the ultimate driver for the decline largely influenced by the substantial sell-off in Japan, where the Nikkei 225 plummeted by more than 12%. “Investor confidence has also crumbled due to the surge in the yen. The latest US Institute of Supply Management (ISM) data and job reports have sparked discussions over the weekend regarding the likelihood of a US recession based on the Sahm Rule,” he explained. The Sahm rule signals a recession when the three-month moving average of the national unemployment rate rises by 0.5 percentage points or more, relative to its low during the previous 12 months. According to the US government, the US hiring slowed to 144,000 jobs in July, missing expectations. The unemployment rate rose to 4.3% versus the expected 4.1%, its highest level in nearly three years. On top of that, Mohd Sedek said the perception that the strengthening ringgit leads to reduced profits in certain sectors and makes stocks more expensive has also exacerbated the situation. “If the heavy selling reduces tomorrow, the FTSE Bursa Malaysia KLCI (FBM KLCI) may trade between 1,590 and 1,600 levels. The market will rebound as a drastic drop or drastic spike is always temporary and not sustained,” he added. Despite the bearish market performance, he highlighted that the technology and financial sectors remained attractive. This week, several defensive companies are scheduled to release their earnings reports, and will likely support the US equity market. “These announcements could foster a sense of calm in the markets,” he said. Top US pharmaceutical companies Amgen, Novo Nordisk and Eli Lilly are scheduled to release their second-quarter results this week. At 4.02 pm yesterday, the FBM KLCI lost 4.36% or 69.69 points to 1,541.36, off its intraday low of 1,532.24 during the mid-afternoon session. Market turnover grew to 8.03 billion units worth RM6.40 billion. — BERNAMA

KUALA LUMPUR: The accumulated losses borne by MARA Incorporated Sdn Bhd (MARA Inc) decreased by 3.8% from RM297.63 million in 2021 to RM286.30 million in 2022, according to the 2024 Auditor-General’s Report (LKAN) Series 2. The report said that this was contributed by the improved financial performance of the company, recording a pre-tax profit of RMI1.67 million for 2022. “This good financial performance was contributed, among others, by gains from property investment recorded in 2022,” it said. However, the report said that at the company level, MARA Inc recorded shareholder deficits for the assessed periods, namely in 2022 amounting to RM115.73 million, 2021 (RM114.06 million) and 2020 (RM66.82 million). It said the main factors causing shareholder deficits were the impairment of asset values related to investments in subsidiary companies, outstanding balances within the company, and trade creditors. Further analysis found that total assets exceeded total liabilities for 3 years, ranging from RM23.32 million (8.7%) to RM51.62 million (20%) but current liabilities exceeded current assets with ratios between 0.11 and 0.13. “Despite an improvement in financial performance with pre-tax profits and a reduction in accumulated losses in 2022, the financial position of MARA Inc remains less stable due to its shareholder deficit and high current liabilities,” it said. The report also said that from the financial years 2020 to 2022, MARA Inc did not pay any dividends to MARA Corporation Sdn Bhd (MARA Corp). MARA Inc justified its non-payment of dividends to MARA Corp during this period due to current-year losses caused by the impact of the Covid-19 pandemic and high net current liabilities. Meanwhile, MARA Inc has only settled RM9.1 million (4.6%) of loans from MARA out of the total amount of RM199.7 million obtained in 2012, 2013, and 2014 for development projects and property purchases abroad. It added that the remaining loan balance of RM190.60 million would be settled through the implementation of Phase 3 Rationalisation Plan approved by the MARA Council on Aug 15, 2022, involving the restructuring of loan repayments which resulted in the transfer of properties amounting to RM174.24 million to MARA. This restructuring consequently reduced MARA Inc’s debt to RM16.36 million, and the remaining loan balance must be settled through the company’s operational income. — BERNAMA

BEIJING: As global trade continues to develop, cross-border e-commerce has emerged as a vital link connecting consumers and businesses around the world. In this context, user loyalty and repurchase rates have become crucial indicators for assessing the competitiveness of cross-border e-commerce platforms. To gain a deeper understanding of this phenomenon, DHGATE Group has collaborated with The University of Hong Kong (HKU) to release a white paper titled ‘The Cross-border E-commerce Repurchase Revolution: Consumer Behaviour Insights and Market Opportunities’. The white paper aims to explore effective strategies for enhancing user loyalty and repurchase rates, providing guidance for the sustainable development of the cross-border e-commerce industry. The report comprehensively examines the current state of user loyalty and repurchase behaviour in cross-border e-commerce. Through data analysis, the authors discovered that, despite the ongoing expansion of the cross-border e-commerce market, improving user loyalty and repurchase rates presents several challenges. These challenges include the diversification of user needs, the differentiation of shopping experiences, and the cultivation of brand loyalty – all of which have become pressing issues for cross-border e-commerce platforms to address. Building on these findings, the white paper proposes 3 core strategies to improve user loyalty and repurchase rates: Optimising traffic strategy and allocation mechanisms The short-term goal is to optimise traffic attraction and distribution mechanisms to support sellers’ branding efforts and multi-platform sales channels, thereby reducing operational risks. Provide sellers with traffic support to address the conflict between product homogenisation and buyers’ personalised demands. Establish a rational traffic distribution mechanism that supports dedicated sellers and products with high potential, ultimately enhancing the platform’s attractiveness and competitiveness. Localising warehousing and logistics The long-term goal is to encourage sellers to integrate their industrial chains, establish overseas warehouses, and develop their own logistics systems. The overseas warehouse model can improve logistics contract fulfilment efficiency, reduce operating costs, and enhance overall fulfilment performance. By building or connecting logistics resources, platforms can enhance the consumer experience, increase user retention rates, attract small-and medium-sized sellers, and strengthen their bargaining power. Driving platform innovation and refined operations Leverage emerging technologies to enable refined operations, reduce operating costs, take advantage of economies of scale, and boost core competitiveness. Strengthen research, development and application of technologies such as artificial intelligence, big data, cloud computing, and blockchain to improve operational efficiency and optimize user experience. For buyers: Offer personalised recommendations and optimized logistics and distribution to enhance repurchase intentions. For sellers: Strengthen supply chain cooperation, reduce transaction costs, provide a wider range of high-quality products, and increase user stickiness. The white paper places special emphasis on the role of technological innovation in enhancing user loyalty and repurchase power. By leveraging artificial intelligence, machine learning, and other advanced technologies, platforms can more accurately predict user needs, implement intelligent inventory management, and optimise pricing strategies. The development of the white paper was spearheaded by DHGATE Group Executive Assistant to the Chairman, Mei Tian and Associate Professor Wei Zhang, Director of the Institute of Digital Economy and Innovation of Business and Economics at the University of Hong Kong. Throughout the compilation process, the white paper’s research team received invaluable guidance and support from Professor Haipeng Shen, Patrick SC Poon Professor in Analytics and Innovation at the University of Hong Kong. The publication of the white paper serves not only as a valuable reference for cross-border e-commerce platforms but also as a guiding light for the healthy development of the entire industry.