Logiq Inc (LGIQ)

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WEYL PR

https://www.weyland-tech.com/2018/12/11/weyland-tech-enters-into-partnership-with-major-regional-delivery-company-to-establish-a-last-mile-fulfillment-platform-for-ecommerce-mcommerce-companies/

Weyland Tech Enters Into Partnership With Major Regional Delivery Company to Establish a ‘Last Mile’ Fulfillment Platform for eCommerce/mCommerce Companies

New York, NY, Dec. 11, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Weyland Tech Inc (Weyland or the Company) announces today it has signed a binding Memorandum of Understanding (“MOU”) with PT Rex Indonesia (“Rex”) http://www.rex.co.id/id

Rex focuses its services as a document and package shipping company through air, sea and land transportation with domestic and international destinations. Rex ships approximately 10,000 packages per day for thousands of Small-Medium sized Businesses (“SMBs”).

Under the terms of the MOU, Weyland and Rex will leverage the Rex SMB customer base and Weyland Tech’s 13,000-partnership network across 23 cities in Indonesia. The combined platform will implement a non-cash based payment system through the AtoZpay eWallet, integrate Weyland’s PaaS platform functionality for eCommerce and mCommerce thereby providing a ‘last-mile’ and payment solution for companies looking to expand their sales thru eCommerce/mCommerce and have goods and services paid for and delivered.

Ride sharing services such as Go-Jek and Grab, which have valuations of $8 billion and $10 billion respectively and are supported by Alibaba, Tencent, Toyota, Softbank, Temasek, KKR and other tier-one investors, also provide courier services for their own product lines by leveraging their scooter, motorcycle and automobile driver network. Weyland and Rex will build out an ‘agnostic’ solution that focuses on a) deliveries to smaller cities and townships and b) delivery services into Indonesia from large foreign eCommerce/mCommerce companies expanding into Southeast Asia.

‘Last-mile’ solutions have long been a major challenge for eCommerce/mCommerce fulfillment and a total solution creates significant value for companies that can successfully implement and execute on it.

The MOU is subject a definitive agreement expected to be drafted by March 1, 2019. The companies will immediately provide each other’s services before fully integrating joint solutions.