Y3 Technologies Pte Ltd announces Joint Venture with Singapore Press Holding Limited to launch e-commerce platform tailored to promote B2B businesses in the region
Singapore, 29th October 2018 – Y3 Technologies Pte Ltd, a leading Supply Chain Technology organisation will embark on a joint venture with listed media giant Singapore Press Holdings.
The two entities will embark on the collaboration to create and manage, OctoRocket.Asia, operating from a space in Toa Payoh North News Centre. This new partnership will result in the creation of a leading online platform for B2B seller discovery and product sourcing with suppliers on its platform to grow trade in Southeast Asia.
The collaboration will leverage Y3 Technologies’ e-commerce and supply chain technology expertise, to deliver the technical scope of the partnership, such as the design and creation of the platform and the integrations with various service providers.
SPH who is one of the market expert of linking businesses to their target audiences through marketing and publicity activities such as B2B advertising and trade exhibitions. The service this platform brings about will further expand SPH’s services by driving B2B direct transactions.
OctoRocket will start off with companies in the packaged food industry, allowing food suppliers to tap on the platform and target their outreach to business buyers and distributors in the massively growing region, in particularly Singapore, Malaysia, Thailand, Indonesia and Vietnam. Aside from its marketing and market outreach advantages, the technology will also be an enabling tool for suppliers to sell to both new and existing buyers with ease by facilitating their transaction data to trade financing, logistics and other related partners.
Y3 Chief Operating Officer Mr Gabriel Tho said, “An effective and user-friendly online wholesale marketplace provides an invaluable platform for businesses in ASEAN and China aiming to penetrate new markets and to grow at reduced costs and risks across the region.”
“OctoRocket is perfectly positioned in this aspect to provide connections for various transactions, which can ease problems arising from cross-border payments and customs clearance.”
About Y3 Technologies
Y3 Technologies is a Singapore-based, award-winning software solutions provider. Y3 provides a full suite of omni-channel solutions – delivering analytics-based tools & capabilities, purpose-built supply chain management applications and customized eCommerce, CRM & loyalty services, to enabling companies to better plan, manage, optimize fulfilment and deliver winning customer experiences. Today, Y3’s proprietary solutions manage more than $50 billion in inventory across 120,000 different unique products every year and are integrated with more than 11,000 connected point-of-sales, handling over 50,000 transactions every day. Its clients include IKEA, Dell, Starbucks Coffee, and Infineon Technologies.
About Singapore Press Holdings Pte Ltd
Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.
SPH’s core business is publishing of newspapers, magazines and books in both print and digital editions. It also owns other digital products, online classifieds, radio stations and outdoor media.
On the property front, SPH owns 70% in a real estate investment trust called SPH REIT which comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road, The Clementi Mall, a mid-market suburban mall and The Rail Mall, a stretch of shopping and dining outlets along Upper Bukit Timah Road. SPH also owns and operates The Seletar Mall. It is developing a new commercial cum residential site at Woodleigh. It also has a stake in Chinatown Point acquired a portfolio of Purpose-Built Student Accomodation (PBSA) in the United Kingdom.
It is in the aged care sector and owns Orange Valley, Singapore’s largest private nursing home operator.
SPH runs a regional events arm and a chain of Buzz retail outlets. It also invested in the education business.
For Media Enquiries:
Executive, Sales & Marketing, Y3 Technologies.com
DID: (65) 9828 4395