Making inroads into new markets

SINGAPORE-BASED logistics technology solutions provider Y3 Technologies took quite a few gambles in December 2015, starting with a decision by its current chief executive officer, Marc Dragon, 44, to uproot himself and his family from here and relocate to Shanghai.

He then made frequent trips to Chongqing in western China to start cultivating connections and to get to know the logistics sector there better - incurring expenses that many small and medium-sized enterprises (SMEs) might have deemed extravagant given the weak economy.

"In order to really understand a country and a market, you need to be immersed in it," said Mr Dragon.