(Reuters Photo)KUALA LUMPUR: The Chinese e-commerce giant Alibaba plans to set up a regional distribution hub in Malaysia to cater to its fast-growing business in the region, say two sources aware of the discussions. Alibaba executive chairman Jack Ma and Malaysian Prime Minister Najib Razak are expected to announce the plans at an event in Kuala Lumpur this coming week, the sources said. Malaysian media reported that Ma, whose Alibaba owns the Chinese online shopping business Taobao, would help steer Malaysia's e-economy development through accelerated efforts to promote online payment and banking. Malaysia may not be able to take all of Singapore's business but it is a good choice [logistically]," one source said. Sources said the distribution hub would be part of Malaysia's Digital Free Trade Zone (DFTZ), also slated to be launched during Ma's visit next week.

Source: Bangkok Post March 18, 2017 06:56 UTC