The company has three main foci:
- To enable global marketing
- To promote trade
- and to streamline the business process
Towards this end, the company tied up with Satyam Infoway to launch a vertical portal - also known as a 'vortal', in India.
For the next year, the company plans to break it up to sub-portals.
"The supply chain in the plastics industry is very long, very diverse." says Quek. "We've discovered
that we can actually develop quite a number of services and applications to serve each of the members of the supply
The dot-com is also working with technology partners such as Gintic,
a national research institute set up within NTU to perform applied research and development in Singapore's manufacturing
"They've got an amazing number of applications for industries," says Quek.
One of the applications is a file conversion service. Mold makers work from CAD/CAM files - of which there are
currently more than 10 different file formats. It can get quite costly for companies to use more than a few. Gintic
processes the file, and clients get the converted file back within the day.
Plasticscommerce.com also recently announced
an agreement with First International Bank to make online financing available to clients.
The bank will fund loan amounts up to US$5 million per transaction under the agreement - a significantly greater
credit availability than the US$100,000 maximum "credit card" levels that typify the online business
loan market today.