New Everpeaks Logistics Platform Uses Malaysian Free Trade Zone

Everpeaks Logistics Platform Uses Free Trade Zone

Malaysian eCommerce logistics firm Everpeaks has launched a logistics platform called Fulfilment [sic] by Everpeaks that the company said will reduce costs for manufacturer-to-consumer shipping as well as bulk B2B transactions in part by operating from a free trade zone, according to a press release.

Everpeaks, which was founded in 2016, stated in the release that the new offering’s value proposition comes from “eliminating multiple layers of traditional retail operations and market barriers. This allows global brands to extend their reach by tapping into new markets, providing global sellers with instant Southeast Asian market access as its functions enable the sellers to create, control, and fulfill on-demand B2B bulk orders and B2C orders seamlessly.”

According to the release, the new service integrates with many existing eCommerce systems and centralizes order processing, inventory tracking and order fulfillment.

Storage in warehouses within Malaysia’s Free Trade Zone will be duty free, allowing companies only to pay duties when they fulfill orders within the countries from which they were placed, according to the release.

“This improves cash flow and helps sellers better allocate resources for growth, as opposed to inventory being stuck overseas in the form of duty paid,” the release stated.

Everpeaks Founder and CEO Joachim Sebastian said in the release that pandemic disrupted purchasing behavior significantly, with “supply chains bearing the brunt.”

“Manufacturers today burn through inventories at an accelerated rate, demonstrating the need to maintain healthier warehouse stock closer to their targeted markets for future volatility, as more and more goods experience speedier throughput coupled with a compressed sales cycle,” he said in the release.

The release stated that Everpeaks is targeting 16 million Malaysian ringgits (about $4 million) in revenue within the next five years with the launch of the new platform.