Malaysia's Prime Online Marketplace
Seventeen Network Services Sdn. Bhd. (1295843-X) is a private limited business entity with 4 co founders. We are a tech, e-commerce business that has developed and currently operates an online marketplace platform (in web application format) known as Lokein.
Lokein is an online Community Marketplace Platform (Sharing Economy Model) for the used-items industry (also known as bundle community).
Since the smartphone and internet revolution, Malaysia’s online used-item industry is BOOMING but SUFFERING with a lot of problems and issues in their daily trading.
Trading activity typically happens on social media platforms which highlights the need for a secure place for effective, efficient and safe trading.
Our target market segment consists of the bundle community (initial target market) and other categories community (Target start date from month 7 onward).
Based on benchmark and assumptions made according to Internet Users Survey (IUS) 2017 by MCMC, the expected prospect for these two groups is equal to 4.2 million prospects with RM1,488,000,000.00 traded value (Market Value).
Progress and traction:
Lokein went live on 3rd April 2019 and until 31st May 2019, Lokein have 725 users onboard with 379 vendors already operated their online stores in Lokein Online Marketplace. Total GMV of Lokein as of 31st May 2019 is RM15,580.00.
Our external advisers include Mr Roslan Khairuddin, (advisor on a financial capacity) who has 25 years in the banking industry dealing with commercial and corporate loans. Mr Roslan has a Banking Diploma from MIT. He also has 15 years of experience in financial advisory dealing mainly with Unit Trusts and Takaful.
Our trusted business development adviser is Mr Rusli Mohamad Nor, who has 25 years with a leading Malaysian conglomerate as head of soils and materials testing. Mr Rusli is also the Project Director for the Highway upgrading project, the Head of Expressway Facilities Management, an International Project Team leader and Head of Regulatory Management.
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