Kuala Lampur, Sept. 2 -- The recent government's announcement to expedite the e-commerce bill and to consider registration requirements for e-commerce platforms are highly welcome. E-commerce platforms are not mere neutral intermediaries connecting sellers and consumers. Instead, they form highly integrated ecosystems of interconnected, interdependent entities working together to facilitate e-commerce.

Built through substantial up-front investments, these ecosystems extract streams of rental income from locked-in ancillary businesses (such as third-party sellers, manufacturers, and retailers).

While platforms appear 'free' to consumers, participants on the other side pay heavily via keyword search ads, commission fees, voucher participa...