Company Briefs :Lazada


Alibaba-backed Lazada and payments stalwart Mastercard have inked a five-year partnership to work together to grow the e-commerce ecosystem in South-east Asia, the firms said in a joint release yesterday.

They hope the collaboration will enable Lazada to serve brands and sellers on its platform better and build Mastercard's user base in the region. Merchants are also able to benefit from Mastercard's solutions.

To grow the e-commerce ecosystem, the two firms will develop marketing and education campaigns aimed at increasing consumer confidence and incentivising the use of digital payment methods through reward schemes. Lazada will also be able to access Mastercard's regional and global sponsorship platforms and will be the anchor merchant for a number of new Mastercard solutions in select markets.

"Mastercard's data-driven insights will combine offline and online behaviours to help Lazada understand how to drive greater e-commerce growth within the growing base of Internet-savvy and mobile consumers in the region," the companies added.

Boustead Projects

Boustead Projects has entered into a joint-venture (JV) agreement with Malaysia Airports Holdings for the incorporation of a JV company to undertake the development of an aerospace and high-tech park within the Subang Aerotech Park in Subang, Malaysia.

Their respective subsidiaries - BP Aerotech (Subang) and Malaysia Airports (Subang) - will hold 70 per cent and 30 per cent of the equity interest in the JV company, BPMA Subang.

The initial paid-up capital will be RM10 (S$3.30) contributed by the two subsidiaries in proportion to their respective shareholdings.

In a filing with the Singapore Exchange yesterday, Boustead Projects said Malaysia Airports Holdings has granted BPMA Subang the rights to sublease up to 34.66 acres (140,264 sq m) of land next to the Sultan Abdul Aziz Shah Airport, also known as Subang Airport, for the aerospace developments. This is subject to Malaysia Airports Holdings obtaining the relevant approvals.

BPMA Subang is likely to appoint a business unit of Boustead Projects to carry out the design, construction, project management, development management, testing, commissioning and fit-out works and asset management or property management for the aerospace developments. The completed aerospace and high-tech park will be leased to corporations.

A version of this article appeared in the print edition of The Straits Times on March 23, 2019, with the headline 'Company Briefs'. Subscribe