Yip In Tsoi, a leading system integrator, will focus on a new business growth area this year that includes cybersecurity, data analytics, business transformation, and cloud and infrastructure services to ride on the wave of an emerging fifth industrial revolution.
The company has grown its business steadily since its establishment 97 years ago and plans to enter the next 100 years by bringing digital technology to enable the well-being of Thai society and the world, said Morakot Yipintsoi, the company's president and chief executive.
Meanwhile, the company has invested nearly 100 million baht in four local startups operating in the areas of clean energy, smart agritech and bio-nanotech.
The companies are: EasyRice, which uses AI for the "food revolution"; Solaryn Group, which is in the renewable energy, energy storage and smart farming business; Morena Solutions Co, a biotech company; and Winnonie, an e-bike rental platform.
The company also plans to launch an e-bike under the RYN brand by the end of the year under a joint development effort with a university
Yip In Tsoi has nine subsidiaries with 1,900 employees.
Ms Morakot said digital technology businesses contributed 80% to the company's total revenue of 10 billion baht, while agricultural businesses such as fertiliser sales accounted for 15%. The remainder was generated by engineering tech, manufacturing and insurance businesses.
"We see digital tech enabling agriculture and food security to reduce the affect from climate change," said Ms Morakot.
Supak Lailert, the company's executive director and chief operating officer, said the company has been a pioneer in the systems integration business over past seven decades and the private sector now accounts for 70% of its customer base.
"We work on a growth mindset with agility and increase capability to be in line with the wave of tech change," he added.
The company will focus this year on finance and banking, telecom, energy, healthcare, and large public and private customers.
The company recently established a cybersecurity service in an effort to cope with rising cyberthreats.
"We plan to have one subsidiary launch an initial public offering by 2026," said Mr Supak.
Mr Supak said this year the company would focus more on state agencies in other ministries, representing a switch in focus from those under the Finance Ministry it had focused on in the past.
He added that AI would play a crucial role in cybersecurity technology and generative artificial intelligence (AI) would play a pivotal role in the digital transformation of organisations.
Marrut Manistitya, head of the company's strategy and business transformation management division, said the company will evolve its capability expertise in the era of an emerging fifth industrial revolution.
Mr Marrut added that the company continues to see ongoing digital transformation by companies in Thailand via the modernisation of their infrastructure through the use of cloud and by embracing software as a service and digital business solutions.