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SG e-Auction set to be 1st online live B2B auction platform
« on: September 23, 2017, 04:03:05 pm »
SINGAPORE — Catalist-listed MoneyMax Financial Services is teaming up with Tokyo-listed Aucnet to jointly develop Singapore’s first  online real-time business-to-business (B2B) auction platform.

Announcing the joint venture on Friday (Sept 22) at a press conference, MoneyMax said SG e-Auction will operate and manage the platform which allows regional business buyers and sellers to make  electronic bids for luxury branded merchandise, and gold and diamond  goods.

“SG e-Auction will develop a new B2B auction market in Singapore, and seek to transform Singapore into a hub for used luxury  branded goods in Asean,” said Mr Fujisaki Kiyotaka, representative  director and president of Aucnet.

MoneyMax will own 51 per cent equity stake in SG e-Auction, while Aucnet holds the remaining 49 per cent.

Based in Singapore, the platform will bring together MoneyMax’s established network in the local market and Aucnet’s operational  know-how in the B2B online auction industry.

Established in 1985, Aucnet is Japan’s leading real-time auction platform company which provides B2B information distribution  services. Aucnet’s online auction platform, with used automobiles, electronic products, flowers and branded items being auctioned weekly,  has a membership of 24,578 companies.

Dr Lim Yong Guan, executive chairman and chief executive officer of MoneyMax, said: “We are honoured to partner a reputable and well-established partner like Aucnet, a market leader with more than 30  years of experience in the Japanese B2B auction market. We are excited  to bring its successful business model to Singapore and are confident of  leveraging on each other’s strengths to grow this business as well as  attract other fellow businesses to join this network.”

More at https://www.prolificskins.com/forum/current-affairs/sg-e-auction-set-to-be-1st-online-live-b2b-auction-platform