KUALA LUMPUR, 18 June 2019:
Having acquired a significant 12.35% stake in 11Street Malaysia last year from SK Planet Global Holdings Pte Ltd and Axiata Digital Services Sdn Bhd for RM40 million via subsidiary PUC Ventures Sdn Bhd, PUC Bhd also got the right to nominate and appoint a new chief executive officer and chief marketing officer at the online mall.
Today, 11street was rebranded to become PrestoMall, as the e-commerce component within the Presto ecosystem – a local home-grown Super App that aims to fulfil users’ shopping, entertainment, payment, credit, travel and makan needs.
CEO Cheong Chia Chou said in a statement: “We believe the rebranding to PrestoMall will be received well by sellers, consumers and vendors alike.
“Just think of it as a mega mall that exists virtually in a cloud, where shoppers find their favourite stores and products as well as services such as bill payments, reloads and ticketing under one virtual roof.”
He added that company will continue to support existing sellers and vendors with its full suite of digital marketing and services tools and will ensure a seamless transition to the rebranded platform.
The multi-functional platform accepts various payment methods which includes the several e-wallets, particularly PrestoPay which is owned by PUC. PrestoPay features various services such as money transfer, prepaid mobile top-up and bill payments.