by S BIRRUNTHA / pic by TMR FILE
COUNTRY Heights Holdings Bhd (CHHB) plans to invest about RM250 million in capital expenditure (capex) over the next five years to develop the omnichannel platform it has developed in partnership with Beijing Wodong Tianjun Information Technology Co Ltd (JD Worldwide).
CHHB MD Datuk Jared Lim said the partnership aims to introduce the “very best of China” in smart living products, appliances, lifestyle and experiences to Malaysia, via an offline and online platform.
He added that the collaboration will lead to the development of JD Worldwide’s omnichannel business model for the Malaysian market by integrating the former’s technologies with CHHB’s resources.
The collaboration has set up JDMines Sdn Bhd to manage and develop this project.
JDMines is 70% held by CHHB and the remaining held by Star Pulse Sdn Bhd, a technology incubator that will be working with CHHB on the implementation and execution of the omnichannel business model.
JDMines will open a mega physical store capable of accommodating around 10,000 of the best stock-keeping unit (SKU) products from China at The Mines International Convention & Exhibition Centre.
“The physical store is expected to start operating in the second half of 2023 (2H23) simultaneously with the JDMines’ e-commerce platform, which will provide more than 50,000 products,” Lim said after the launch of JDMines in Seri Kembangan yesterday.
Lim added that CHHB aims to expand this new retail experience to the rest of Malaysia with mega stores located in the main cities and smaller retail footprint in the rest of the country.
He said with JD Worldwide assisting to plan and set up the omnichannel online platform, interested consumers can directly make a purchase on the spot or purchase the products through its mobile applications and web stores.
CHHB founder Tan Sri Lee Kim Yew (picture) said this collaboration is a combination of technology and commercial platform with technology and artificial intelligence set to become an essential part of life in the future.
He added that the collaboration intends to improve quality of life in Malaysia by bringing smart-home solutions to enhance lifestyles.
“We hope through our efforts, we can create a lot of new digital entrepreneurs in Malaysia, to start developing products and brand them under this new business venture to enjoy the benefits it brings.
“In line with that, we also hope to transform CHHB and The Mines into a major import or export hub in the country and become a platform for new products in Malaysia,” Lee said.
The e-commerce space is set to see a compounded annual growth rate of 18% in the Asean region in the coming five years and strengthen year by year.
The penetration rate for digital applications in Malaysia has increased from 69% in 2019 to 81% in 2021. At the same time, 98% of the people continue to use lifestyle-related applications after the Covid-19 pandemic.
Therefore, Lee said the growth for the new omnichannel e-commerce platform, driven by stable growth and a high penetration rate, is worth looking forward to.