1st Jul 2015 07:57
LONDON (Alliance News) - RapidCloud International PLC on Wednesday said its Emerge Systems Sdn Bhd subsidiary has entered into a deal with Oriented Media Group to develop a business-to-business e-commerce platform for sportswear manufacturers in Asia.
Under the 24-month deal with Oriented, a Malaysia-based logistics and digital media software and services company, RapidCloud will provide the necessary hardware and software to develop an online sportswear trading platform.
The platform will allow manufacturers, initially targeting the Fujian province of China, to market and trade their products with wholesalers and retailers directly.
RapidCloud said the deal is worth a minimum of MYR5 million and could be worth up to MYR22.3 million dependent on the adoption of additional modules offered by RapidCloud.
"This is a significant agreement for RapidCloud, as it will see us providing and managing the infrastructure for what could be one of the most significant online trading platforms for sportswear across Asia. With retail sales across the country growing at an impressive rate, it is very exciting that we will be playing such an integral part in what we believe will be a great success for the entire sportswear industry," said Raymond Chee, RapidCloud's managing director.
RapidCloud shares were up 0.3% to 38.1101 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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