Cambodia Post to launch e-commerce service

State-owned Cambodia Post is ready to launch an e-commerce company by 2H17 in a move to tap the growing demand for online transactions in the Kingdom and to diversify its revenue stream, a company executive said yesterday. The new company, Cambodia Post E-Solution, will act as the distribution arm for deliveries for China’s e-commerce giant Alibaba Group while facilitating payments. Besides trying to garner support from international e-commerce platforms, Cambodia Post is also looking to pursue partnerships with other government institutions. Chum Borey, founder of Roserb.com, an online shop that specializes in cosmetics and clothing, said that while a state-backed e-commerce company would increase competition in the nascent sector, it would provide more consumer confidence for those venturing into digital shopping. According to its annual financial report, last year, Cambodia Post’s total revenue surged 74% YoY to $9.45mn, while net profit jumped 195% YoY to $586K. (Source: Phnom Penh Post)