EqualOcean has been informed that at the International Digital Economy Conference held on October 11, 2023, Macro Tech Ventures Sdn Bhd's Borong brand (formerly known as Dropee) has entered into a significant collaboration with Sarawak Digital Economy Corporation (SDEC) and five other companies to drive the digitalization of Sarawak's micro, small and medium-sized enterprises (MSMEs). In signing the MoU, Borong pledged to invest US$17.4 million (RM75 million) to support the g
Borong's co-founder, Aizat Rahim, said the strategic partnership with SDEC will provide Sarawak entrepreneurs and businesses with the necessary resources and support to help them achieve sustainable development in the digital age. "We are committed to investing in Sarawak's MSMEs to enhance their competitiveness in the local market while expanding internationally through cross-border digitalisation," he said. ”
Ir. Ir., CEO of SDEC Ts. Sudarnoto Osman also expressed his appreciation for the collaboration and stressed the importance of the MoU, "This marks a crucial step on Sarawak's path to becoming a digital economy powerhouse. Our partnership is not just a combination of technology, it's about empowering communities through digitalization, giving local businesses the knowledge, support and funding they need to thrive. ”
According to Borong's plan, the company plans to transform the business of more than 60,000 micro, small and medium-sized enterprises online through its e-commerce platform. Borong's co-founder and chief executive officer, Lennise Ng, noted that the average purchase amount per MSMEM is expected to be US$92.8 (RM400) per month, and Borong's three-month credit facility of RM1,200 per company marks the start of the RM75 million financing scheme, which is expected to give Sarawak's MSME a significant boost.
"We are very optimistic about the future and hope to use this platform to persuade more partners to invest in MSMEs, not only in Sarawak, but also in the whole of Malaysia." Ng added.
To ensure the successful transformation of MSMEs, Borong will work closely with SDEC to assess the digital readiness of enterprises and conduct awareness, digital training and onboarding activities to help local companies leverage Borong's platform to enhance their global presence and competitiveness. It is worth mentioning that Borong receives a small commission of 2.5% from transactions on its platform, which provides financial support for the digital transformation and sustainable development of the enterprise.
To date, Borong and its banking partners have allocated more than RM300 million in SME financing to support the recovery and development of the local economy. As the digital economy continues to evolve, Borong is opening up a new path for Sarawak's MSMEs to access international markets and contribute to the prosperity and sustainable development of the local economy.