IRPC’s subsidiary, has been in partnership with Chinese partners to set up “Plastket.com” platform

iPolymer Co Ltd, IRPC’s subsidiary, has been in partnership with Chinese partners to set up “Plastket.com” platform with investment value over THB100m. Mr. Kraisri Phankitnirandorn, Managing Director of iPolymer said this website is the first e-commerce plastic resin trading platform in Thailand and ASEAN and all plastic resin enterprises can have online trade freely and equipped with other features of raw materials and plastic resin transporation to end users (which is supported by Thai Transportation & Logistics Association) as well as financial solution services for liquidity provided to the enterpreneurs. This platform, 55% owned by IRPC group and 45% owned by Isuwang.com of China and turn into breakeven within 2 years, is aimed to have direct trades between SMEs and large enterprises and the customers globally for plastic resins and other related products, online project bidding, research and product innovation conducted and in collaboration with other universities, certification from Internal Trade Department to be legally online e-commerce trading platform.

Since trade values of petroleum products in Thailand represent 8% of GDP or THB1 trillion of which 45% comes from SMEs, this platform will enable SMEs to have more choices and negotiate trades with large enterprises directly and expand the markets internationally and create more revenues to Thailand. It is expected that initial sales revenues could reach 100,000 tonnes on this platform or 30% of total sales or around 1,000 enterprises will join this platform and push sales revenues to over THB400m in 2020. Also, it will create business expansion into ASEAN countries by next year starting with Indonesia.