Celcom forms JV with SK Telecom’s e-commerce subsidiary

  • JV to explore, seek and pursue e-commerce business opportunities in Malaysia
  • Celcom Planet expected to launch optimised e-commerce platform by H2 2015
Celcom forms JV with SK Telecom’s e-commerce subsidiary

CELCOM Axiata said it entered into an agreement with South Korean e-commerce company SK Planet on Oct 31 to form a joint venture company called Celcom Planet, which is expected to launch an optimised e-commerce platform by the second half of 2015.
The two companies will collaborate to explore, seek and pursue e-commerce business opportunities in Malaysia, Celcom said in a statement.
The pact would enable Celcom to further participate in the digital industry and build long-term capabilities in the digital space, the Malaysian telco said.
“This initiative underlines our expanding digital services portfolio, designed to create a digital ecosystem and to increase revenue streams that will eventually benefit our customers, service providers and content developers, as well as the traditional brick and mortar merchants,” said Celcom Axiata chief executive officer Shazalli Ramly.
“We strongly believe that this latest initiative can spearhead Celcom’s advancement in the digital space as SK Planet, part of South Korea’s leading mobile operator SK Telecom, has successfully ventured into the e-commerce domain and has a strong background in this field, as well as in digital content.
“[With] SK Planet’s platform and operations know-how, coupled with Celcom’s experience and knowledge of the local market, we are confident that this collaboration will be very successful,” he added.
SK Planet, established in October 2011, is a wholly-owned subsidiary of SK Telecom. Through its 11st.co.kr e-commerce open market in South Korea, it has served over 30 million consumers with a gross merchandise value of US$5 billion in 2013, Celcom said.
It has since expanded its e-commerce platform and services beyond its home market and into Turkey and Indonesia.
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