Treasure Global Subsidiary Tien Ming Partners with Taxieco to Reinvent Last-Mile Delivery for Malaysia’s Digital Economy
Treasure Global Inc. (NASDAQ: TGL) announced a strategic partnership between its subsidiary Tien Ming Distribution and logistics solutions provider Taxieco to enhance grocery delivery services across Malaysia. The collaboration will integrate Taxieco's IoT technologies, including GPS-enabled T-boxes and real-time data solutions, into Tien Ming's TMGrocer platform.
According to market data, Malaysia's grocery delivery market is projected to reach US$2.50 billion in 2025 and grow to US$4.03 billion by 2030, with a CAGR of 9.9%. The partnership aims to improve operational efficiency and support small business growth through enhanced logistics infrastructure and real-time tracking capabilities.
Treasure Global Inc. (NASDAQ: TGL) ha annunciato una partnership strategica tra la sua controllata Tien Ming Distribution e il fornitore di soluzioni logistiche Taxieco per potenziare i servizi di consegna di generi alimentari in tutta la Malesia. La collaborazione integrerà le tecnologie IoT di Taxieco, inclusi i T-box con GPS e soluzioni di dati in tempo reale, nella piattaforma TMGrocer di Tien Ming.
Secondo i dati di mercato, il mercato della consegna di generi alimentari in Malesia è previsto raggiungere 2,50 miliardi di dollari USA nel 2025 e crescere fino a 4,03 miliardi di dollari USA entro il 2030, con un CAGR del 9,9%. La partnership punta a migliorare l’efficienza operativa e a sostenere la crescita delle piccole imprese attraverso un’infrastruttura logistica potenziata e capacità di tracciamento in tempo reale.
Treasure Global Inc. (NASDAQ: TGL) anunció una alianza estratégica entre su subsidiaria Tien Ming Distribution y el proveedor de soluciones logísticas Taxieco para mejorar los servicios de entrega de comestibles en toda Malasia. La colaboración integrará las tecnologías IoT de Taxieco, incluidos los T-box con GPS y soluciones de datos en tiempo real, en la plataforma TMGrocer de Tien Ming.
Según datos del mercado, se proyecta que el mercado de entrega de comestibles en Malasia alcance los 2.500 millones de dólares estadounidenses en 2025 y crezca hasta 4.030 millones de dólares para 2030, con una Tasa de Crecimiento Anual Compuesta (CAGR) del 9,9%. La alianza busca mejorar la eficiencia operativa y apoyar el crecimiento de pequeñas empresas mediante una infraestructura logística mejorada y capacidades de seguimiento en tiempo real.
Treasure Global Inc. (NASDAQ: TGL)는 자회사 Tien Ming Distribution과 물류 솔루션 제공업체 Taxieco 간의 전략적 파트너십을 발표하여 말레이시아 전역의 식료품 배달 서비스를 강화합니다. 이번 협력은 GPS 기능이 탑재된 T-box와 실시간 데이터 솔루션을 포함한 Taxieco의 IoT 기술을 Tien Ming의 TMGrocer 플랫폼에 통합할 예정입니다.
시장 데이터에 따르면, 말레이시아 식료품 배달 시장은 2025년 25억 달러에 도달하고 2030년까지 40억 3천만 달러로 성장할 것으로 예상되며, 연평균 성장률(CAGR) 9.9%를 기록할 전망입니다. 이번 파트너십은 운영 효율성을 개선하고 향상된 물류 인프라와 실시간 추적 기능을 통해 중소기업 성장을 지원하는 것을 목표로 합니다.
Treasure Global Inc. (NASDAQ : TGL) a annoncé un partenariat stratégique entre sa filiale Tien Ming Distribution et le fournisseur de solutions logistiques Taxieco afin d'améliorer les services de livraison de produits d'épicerie à travers la Malaisie. Cette collaboration intégrera les technologies IoT de Taxieco, notamment les T-box équipés de GPS et les solutions de données en temps réel, dans la plateforme TMGrocer de Tien Ming.
Selon les données du marché, le marché de la livraison d'épicerie en Malaisie devrait atteindre 2,50 milliards de dollars US en 2025 et croître jusqu'à 4,03 milliards de dollars US d'ici 2030, avec un taux de croissance annuel composé (TCAC) de 9,9%. Ce partenariat vise à améliorer l'efficacité opérationnelle et à soutenir la croissance des petites entreprises grâce à une infrastructure logistique renforcée et des capacités de suivi en temps réel.
Treasure Global Inc. (NASDAQ: TGL) gab eine strategische Partnerschaft zwischen seiner Tochtergesellschaft Tien Ming Distribution und dem Logistiklösungsanbieter Taxieco bekannt, um die Lebensmittelzustellung in ganz Malaysia zu verbessern. Die Zusammenarbeit wird Taxiecos IoT-Technologien, einschließlich GPS-fähiger T-Boxen und Echtzeit-Datenlösungen, in die TMGrocer-Plattform von Tien Ming integrieren.
Marktdaten zufolge wird der Lebensmittelzustellungsmarkt in Malaysia voraussichtlich 2,50 Milliarden US-Dollar im Jahr 2025 erreichen und bis 2030 auf 4,03 Milliarden US-Dollar wachsen, mit einer jährlichen Wachstumsrate (CAGR) von 9,9%. Die Partnerschaft zielt darauf ab, die operative Effizienz zu steigern und das Wachstum kleiner Unternehmen durch verbesserte Logistikinfrastruktur und Echtzeit-Tracking-Funktionen zu unterstützen.
- Partnership integrates advanced IoT technology for improved logistics efficiency
- Targets growing market projected to reach US$2.50 billion in 2025
- Expected market CAGR of 9.9% through 2030
- Expands service capabilities for small businesses and SMEs
- None.
Insights
TGL's subsidiary partners with Taxieco to modernize Malaysia's grocery delivery with IoT technology, targeting the growing $2.5B market.
Treasure Global's strategic partnership between its subsidiary Tien Ming Distribution and Taxieco represents a calculated move to capitalize on Malaysia's rapidly expanding grocery delivery market, currently valued at
The technical architecture of this partnership is particularly noteworthy. By integrating Taxieco's IoT capabilities—including GPS-enabled T-boxes and real-time data solutions—into TMGrocer's established fulfillment infrastructure, TGL is creating a data-rich logistics ecosystem. This integration addresses several critical pain points in last-mile delivery: real-time visibility, route optimization, and compliance monitoring.
The timing is strategically aligned with changing consumer behaviors in Malaysia, where urbanization and increasingly fast-paced lifestyles are driving demand for convenient delivery options. What makes this partnership potentially transformative is its focus on serving small and medium enterprises (SMEs), which typically lack access to sophisticated logistics technology. By democratizing access to advanced supply chain capabilities, TGL and Taxieco are positioning themselves as essential infrastructure providers in Malaysia's digital economy transition.
From a competitive standpoint, this partnership creates differentiation through technology integration rather than merely expanding delivery capacity. The emphasis on IoT and real-time data suggests a strategy focused on building defensible advantages through operational excellence and service quality, rather than competing solely on price or speed.
New Alliance Aims to Scale Grocery Logistics for SMEs With Real-Time Tracking, IoT Integration, and Regional Economic Impact
KUALA LUMPUR, Malaysia, July 01, 2025 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a leading e-commerce platform operator, today announced that its subsidiary, Tien Ming Distribution Sdn Bhd (“Tien Ming Distribution”), has entered into a strategic partnership with Taxieco New World Limited (“Taxieco”), a technology-driven logistics solutions provider. This alliance aims to combine Tien Ming Distribution’s robust fulfillment network with Taxieco’s advanced logistics technology to improve operational efficiency, scale market reach across Malaysia, and support small business growth and regional economic development.
Under this partnership, Tien Ming Distribution will integrate Taxieco’s Internet of Things (IoT) technologies, including GPS-enabled T-boxes, real-time data solutions, and compliance-supporting smart devices, to enhance its nationwide grocery delivery and logistics services via its TMGrocer platform. By combining the platform’s proven capabilities in safe, efficient logistics operations with Taxieco’s advanced hardware and data infrastructure, the parties aim to co-develop scalable, end-to-end logistics solutions tailored for online sellers and SMEs throughout Malaysia. This collaboration reflects a shared commitment to innovation, efficiency, and inclusive growth in Malaysia’s digital and regional commerce ecosystem.
“We are excited to join forces with Tien Ming Distribution to build smarter, more responsive logistics infrastructure across Malaysia. Our IoT-enabled solutions, including GPS tracking, smart delivery devices, and real-time data systems, are designed to support high-efficiency operations at scale. By combining our technology with TMGrocer’s extensive delivery network, we’re creating a powerful platform that supports the growth of local businesses and delivers meaningful value to end consumers,” said CS Lau, Chief Executive Director of Taxieco.
This collaboration comes at a time of rapid growth in Malaysia’s online grocery delivery sector. According to Statista, revenue in the grocery delivery market is projected to reach US
“This partnership with Taxieco marks a significant step forward in our mission to transform last-mile logistics and empower small businesses across Malaysia,” said Carlson Thow, Chief Executive Officer of Treasure Global and Director of Tien Ming Distribution. “By integrating advanced IoT technologies into our TMGrocer operations, we are not only enhancing delivery efficiency and transparency but also aligning with the evolving needs of consumers who demand convenience, freshness, and reliability. Together, we aim to set a new benchmark for logistics innovation in Malaysia’s rapidly growing e-commerce ecosystem.”
About TAXIECO:
TAXIECO is a pioneering technology company headquartered in Hong Kong, specializing in the development and integration of AI, IoT, Blockchain, and Data Science to build a Smart Logistics Ecosystem across Asia. We collaborate with industry leaders to drive innovation, sustainability and scalable growth – shaping the future of smart, safe mobility and regional development.
Visit https://www.taxieco.org/ for more information.
About Treasure Global:
Treasure Global is a Malaysia-based technology solutions provider specializing in innovative platforms that drive digital transformation in retail and services. The Company’s flagship product is the ZCITY Super App, which integrates e-payment solutions with customer loyalty rewards to create a seamless online-to-offline user experience. As of March 2025, ZCITY has attracted over 2.9 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. Treasure Global continuously leverages cutting-edge technologies, including artificial intelligence and data analytics, to enhance its platform’s capabilities across e-commerce, fintech, and other verticals.
Visit treasureglobal.org for more information.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.
Factors that could cause actual results to differ materially include, without limitation, the Company’s ability to expand its e-commerce platform and F&B distribution business, customer acceptance of new products and services, changes in economic conditions affecting its operations, the outcome of partnership discussions, the impact of global health crises, supply chain disruptions, competition, and regulatory risks related to data privacy and security. These risks, along with other factors, are discussed in more detail in the Company’s filings with the U.S. Securities and Exchange Commission.
The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
CONTACT
Investor and media contact:
Chin Sook Lee
Chief Financial Officer
Treasure Global Inc.
ir_us@treasuregroup.org
FAQ
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