My friend is a 11st seller he told me normally the item he sold he will get his payment in 3-4 week . Now his payment got stuck for 2 month's already. Wonder what is happening inside 11st.

This post has been edited by NormalName: Jun 25 2018, 02:24 PM

tukar boss?

maybe 12nd incoming

That's too bad. Hope they don't abscond.

Closing down..... I doubt can get payment already. Company facing financial problem waiting buyout agreement.

This post has been edited by taint8: Jun 25 2018, 02:28 PM

lol 11 street still exist?

If ur seller there... Gg

celcom no support ka

arh then sk telecom belah je?

Payment stuck for 2 months. That is a long time. Didn't call and tiu 11street?

Alibaba for traders, AliExpress for consumer, but price sometimes more expensive than even eBay

must be cahflow problem, ggwp soon.

This post has been edited by ylyap: Jun 25 2018, 02:42 PM

thanks for the info. avoiding 11th street for now.

Lucky i havent buy anything from them yet. But sellers.... haiiihhh..... bad luck for them.

Thks.

Will not buy from 11street now. Later pay money, no send goods.

This post has been edited by MarioKart: Jun 25 2018, 02:51 PM

any other seller in 11street can confirm if what TS friends says is real?

TS friend = TS

pui

Tunggu dia tukar jadi Petaling Street..

i can answer this.

last time (1 year ago) within 3 days will get payment, they delay it to 7 - 14 working days (last few months).

but however, alot of transaction after 1 month i am still not getting money until i keep call in and they talk nonsense + checking, then next week baru get.

so what do u think about their financial ?

too much of voucher and voucher thing

Thanks for your feedback, i guess bad news for seller.

https://www.thestar.com.my/business/busines...il-in-11street/

last few months got another rm90 million investment into 11st, not enough to keep it afloat?

Sounds like in trouble, never really like 11th street anyway.

Pending buyout right? My source said its ecommerce giant from Taiwan. Dont know true or not.

luckily i stop trading at 11st.
not only their commission charges sky high, their support also sucks where we need to manage own transport and communication with customers. means their commission is just payment for using their web unlike lazada (although is getting worst) and shopee.
dai sei la

nvr buyed anything from them b4

they just dun appeal to me

This drama i heard from my online retail friend say is already ongoing since near end of 2017

same with me. just purchase yesterday!! ohhh snap !!1

erhmargerd

how do you read 12nd?

Damn..betul ke..i bought a lot from 11street.almost monthly.

beli xiaomi powerbank from one of the seller, took more than one week to delivery my item. first time and last time for 11street.

sudahlah harga barang mahal.. penghantaran pun mahal.. baik tutup sahaja.

It's product/seller dependent lah, I always compare Lazada/11st/Shopee and have bought from all three, no one site confirmed cheapest.

shopee barang lebih murah dari lazada.. cuma kadang kadang ada kos penghantaran. Manakala Lazada percuma. 11st adalah lebih mahal dari dua yang lain. termasuk penghantaran.

My cousin is seller i think he stuck 5-6k

phew i bought 2.5k laptop there luckily sampai on time.

pls don't die like Gemfive

lee min ho endorse power no longer sustain ?

Cukur my phone also sampai on time, will stop shopping on 11st for now until there is further news.

Lazada got 7/14 days return policy, when buying more pricey items, better get option to return especially when we not sure the item really up to our expectation. 11 street with given coupon most of the time cheaper than Lazada.

Mostly only use shopee for very cheap items.

Fake, im getting my payment in 14 days.

Parking for research.

TS to be blamed if 11St close down........ thanks to bad publicity by TS

from what i heard its industry espionage

I cancelled my order on 6th June and they already charge my credit card. Supposedly I will get refund in 7-14 days. Let's see.

U think here so powerful meh.... Its not even 4 pages. Can kolos thred lo

This post has been edited by taint8: Jun 25 2018, 04:24 PM

Dying...

http://www.theedgemarkets.com/article/puc-...reet-down-rm40m

KUALA LUMPUR (June 12): PUC Bhd has settled for a RM40 million investment in e-commerce platform 11Street Malaysia, less than half the RM90 million it had initially considered.

In a filing with the stock exchange today, PUC said its wholly-owned PUC Ventures Sdn Bhd (PUCV) has inked a share subscription agreement (SSA) with Celcom Planet Sdn Bhd, following a termsheet entered into on April 19.

“Pursuant to the SSA, PUC Ventures has agreed to subscribe to 12.348% equity interest in Celcom Planet for a total cash consideration of RM40 million, instead of subscribing for up to 24% equity interest in Celcom Planet for a total cash consideration of up to RM90 million,” read the filing.

The subscription includes a 1.72% equity interest in Celcom Planet, which was a done deal on April 24.

Concurrent with the execution of the SSA, PUC and PUCV also inked an amended and restated shareholders' agreement with Celcom Planet, SK Planet Global Holdings Pte Ltd (SKP) and Axiata Digital Services Sdn Bhd (ADS).

On completion of the investment, SKP will own a 44.7% stake in Celcom Planet, while ADS will have 42.9%.

Celcom Planet owns and operates 11Street Malaysia, one of the largest e-commerce companies here which originated from South Korea under the management of SK Planet Co Ltd.

However, Celcom Planet was loss-making as at end-2017, incurring a net loss of approximately RM129 million with net liabilities at some RM104 million, according to PUC’s exchange filing today.

So long as PUC is able to offer agreed strategic value propositions to 11Street, and competitive market prices and terms to Celcom Planet, PUC shall be appointed the preferred marketing partner, the preferred payment gateway service provider, and the preferred technology provider.

The investment — which does not require shareholders’ approval — is expected to be completed by the third quarter of 2018.

Shares in PUC slid one sen or 4.76% to close at 20 sen today after 13.14 million shares exchanged hands, valuing it at a market capitalisation of RM318.35 million.

All viral rumor start from somewhere, this one could be from /k

I see guess they really having problem . Sad

moga bankrupt

Habis laa TS ke sue dgn 11street

Most of the things I'm buying, it's cheaper on 11street. Hope they don't bungkus.

my friend manager there already cabut awal2
wonder what happen

Every single e-marketplace platform in Malaysia isn’t making money from their business operations. The moment their funding dries up or funder pulls out; game over. Their business model just ain’t sustainable.

Sad but true

late payment coz transition period? btw, they gt hutang employee salary?

Sucks if they close down, we need more e-commerce platform to keep things competitive in the industry otherwise no reason for Lazada/Shoppee etc to improve

11street got 36 month installment myk gooding

Is Lazada even making money now???

may b TS friend got problem kot, the company i work, the 11street store still same, about 1 month will receive payment.

I saw some of friends that used to work at 11street semua cabut lari cari kerja lain..

Something is wrong

Really??? Two months no payment???

I bought new phone from 11st still ok. Received after 2-3 days. For sellers, not sure when they get their money. I don't think 11st can run away with the money. I think maybe got internal management problem.

chapter 11?

First time more that 1 week did not ship
Order during raya, after raya show preparing
Until now nothing even i ask on seller,
No reply

I shop frequently at 11street, because they're the only one accept AMEX lol

Just bought some stuffs on Sunday. Today shipped out already

This post has been edited by ZeneticX: Jun 26 2018, 12:38 AM

I bought tissue from 11 street

Maybe I should return it because the seller needs the tissue to cry more than I do

aw, kinda sad, generally i prefer 11street, they got 36 month installment

Tp seller will be very sad

11street suck , interface look messy like old website

do they need to make money under ali umbrella ? as long it generate good transaction rate and market share, capitalize market will pay .....

You mean you didnt know the maxis story?

It all start from here in /k


Inb4 machabagichanla

How come not making money?

What story?

As much as I prefer got many ecommerce players in Malaysia so that the industry stay competitive, I kinda hate 11street....and no surprise it went bungkus.

Its support sucks, and my account there got banned while in the process of a huge refund because katanya I got dupe account ( even though I only have 1 ). I ask which part got duplicate, they said can't find...ended up my refund taking longer. After I finally got my refund after so many unnecessary followups, I mmg stay away from 11street and advise everyone I know to do the same.

They’re spending more than they’re earning.

don't like 11street.
hampir kesemua item perlu diimport, pada harga tidak masuk budget.

Refund? Good luck my friend.

Shopee cheaper and delivery faster, like 1-2 days

Xiaomi cctv 70~ compared to 11street around 100...

https://forum.lowyat.net/topic/3890167#entry79038541

The story got viral-ed in social media, many people change from maxis, maxis share price dropped alot, the CEO make video to apologize.

11street got charge seller for transaction fee. That's why all the seller needs to markup the price.

Se7en should buy 11street
Then u get 7-11street

This post has been edited by TheEvilMan: Jun 26 2018, 09:30 AM

Malaysia e-commerce still not very good to buy stuff below rm100 still ok . Anything over rm100 need think & research carefully.

I just got mine today

11 street had no attractive fast delivery....all delivery from overseas even so some of the item ship from other country

Alaaa just found out item want to buy cheaper at 11street compared to lazada. Now dont dare to buy it.

one second

tanya taobao jack ma

Shopee mcm ada potensi

stop selling with them then

His $ got songklap-ed
Kasihan

I received a tracking number
But when I tracked it, no record found

Should I wait till tomorrow?

No wonder since last month their merchant team dam aggresively approach me ask me push sales & stuff. Lucky i no layan them, if not i also up car

To all buyer. Just calm down and buy whatever you want on 11street. this will only affect seller. You shall receive your item as long as seller is active.

Anyway i still getting their payment until yesterday. Just slow, but still will get chun chun payment.

unlike ladada payment not chun

This post has been edited by kopiPeng: Jun 26 2018, 06:13 PM

How much the company worth?

big boss ListenToTheWind

is it true or isolated case only?

£2

money game

Tak pasti le I long time no deal with 11st.

Btw, how soon you get the payment depend on the buyer lar.

If buyer fast-fast confirm your order, your payment also fast-fast kena release la

ya but now 11st dont incentivise the buyer to confirm their order upon receipt of product. last time they give points for confirming product and writing comment to build credibility. so buyer dont really want to confirm/leave comment unless they have any issues with the product

This post has been edited by ey3zack: Jul 20 2018, 02:23 PM

My payment from 11 Street has been delayed since the beginning of the month. The status of the settlement shown that "transfer in progress" and it is still the same status until today. Settlement has been pending for around 1 month. We have tried to contact 11 street but the they keep asking us to wait for 24 hour to 48 hours for the relevant department to contact us. However, we didn't received any call from them. Each time we call, the same answer was given. I also noticed that lots of sellers from 11 street also facing the same issues. Please update us, if you have any latest news regarding 11 street. Thanks.

Lots of seller being affected. We also haven"t received the settlement yet since 1st of July.

almost a month!