(From left) Mr Chua Taik Him, senior advisor of International Enterprise Singapore, Dr Lim Yong Guan, executive chairman and CEO of MoneyMax Financial Services Ltd, Mr Kiyotaka Fujisaki, president of Aucnet Inc and Mr Nakagawa Takashi, deputy manging director at Japan External Trade Organisation Singapore. Photo MoneyMax

SINGAPORE — Catalist-listed MoneyMax Financial Services is teaming up with Tokyo-listed Aucnet to jointly develop Singapore’s first online real-time business-to-business (B2B) auction platform.

Announcing the joint venture on Friday (Sept 22) at a press conference, MoneyMax said SG e-Auction will operate and manage the platform which allows regional business buyers and sellers to make electronic bids for luxury branded merchandise, and gold and diamond goods.

“SG e-Auction will develop a new B2B auction market in Singapore, and seek to transform Singapore into a hub for used luxury branded goods in Asean,” said Mr Fujisaki Kiyotaka, representative director and president of Aucnet.

MoneyMax will own 51 per cent equity stake in SG e-Auction, while Aucnet holds the remaining 49 per cent.

Based in Singapore, the platform will bring together MoneyMax’s established network in the local market and Aucnet’s operational know-how in the B2B online auction industry.

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