KUALA LUMPUR, 21 September 2007 – Tradenex.com Sdn Bhd, a subsidiary of Federation of Malaysian Manufacturers (FMM) and leading service provider of electronic supply chain management and collaboration services, today announces the launch of Tariff Finder Online (TFO), Malaysia’s first online search portal for trade tariffs codes.
Based on Microsoft’s .NET framework, the TFO is a powerful web-based application that allows users to search for the most up-to-date tariff information in accordance with the latest changes and rulings by the Royal Malaysian Customs (i.e. Kastam DiRaja Malaysia – KDRM).
Soon Koi Voon, Chief Executive Officer of Tradenex.com, says that the TFO system was specifically developed to address the pains and issues long faced by the trade and logistics communities.
“For a long time, importers, exporters, freight forwarders and shippers have had to deal with the tedious and often inaccurate method of manually researching for the exact trade tariffs of the goods and commodities they were dealing with – through cross referencing 2 to 3 books and from CD applications and databases.”
“And even if they manage to pinpoint the right tariff rate, it doesn’t guarantee that the calculated tariff is accepted by Customs; nor it is easy to source a Customs Ruling to proof otherwise,” explains Soon.
Using Tradenex.com’s TFO, these problems are immediately resolved as the entire tariff rates of the Malaysian Customs – of more than 8,800 and 12,600 tariff items under the Harmonized Systems (HS) and ASEAN Harmonized Tariff nomenclature (AHTN) codes respectively, can now be accurately and instantaneously determined, and retrieved at the user’s fingertips.
Booster to Local Trade
The TFO is virtually the entire database of the Malaysian Custom tariff rates consolidated into a single Web-based platform, a powerful and thoughtfully designed search application that any registered user can access via the Internet.
Datuk Paul Low, Vice President of FMM and Chairman of Tradenex.com says that the availability of the TFO system is a direct boost to the productivity of the local trade industry’s processes. “TFO will hugely benefit the large community of freight forwarders, importers and exporters both locally and overseas as it provides accurate and instantaneous tariff rate verification.”
“While tariff information has been available in hardcopy and CD format for several years now, no one has had the technology to translate that into a web-based application with such powerful and relevant functionalities. We are glad that Tradenex.com has breached this challenge successfully,” says Low.
A Powerful Malaysian Tariffs Knowledge Base
Besides the latest and accurate tariff rates, the item description of relevant goods and commodities are available in three languages – English, Malay and Chinese; and information regarding the approved permit (AP) and restrictions of each item can be found immediately.
“Tradenex.com guarantees that all tariff information on TFO is the latest and in-line with the Malaysia Customs, with the TFO system being updated within 4 hours of every new Custom legislation or new ruling announcements,” exerts Soon.
TFO also provides users with 10 years worth of Customs rulings on previous transactions furnished by KDRM itself – in order to solve any disparities or tariff rate calculation disputes at Custom check points, if any.
Another unique feature of the TFO is the search option that provides a kind of Thesaurus dictionary which assists users to accurately define the commercial item they are dealing with. “For example, the Thesaurus will clarify that the trade name for ‘hard disks’ is actually ‘system storage'; hence eliminating a lot of inaccuracies in the user’s effort to refer to the right tariff rate code,” explains Soon.
Collaborations in the development of the TFO
Information on TFO is highly credible as this service is provided by Tradenex.com in formal collaboration with In-Glow Technologies Sdn Bhd, the content provider involved in the development of the existing Customs tariff rates CDs.
“Besides In-Glow, the successful development of the TFO system is also attributed to Microsoft. Tradenex.com is a Microsoft Independent Software Vendor (ISV), and our technology is developed on Microsoft’s technology platform,” shares Soon.
Moving forward, Tradenex.com, together with its partners, plans to add tariff rates from other nations into TFO in order to better facilitate trade in the region. “TFO is just is one of a series of Gateway-Connect solutions and services that Tradenex.com will be launching for the trade, manufacturing and logistics sectors. Our aim is to provide the necessary tools to ensure a smooth facilitation of the local trade industry, which in turn drives value to our customers and the nation as a whole,” surmises Soon.