Sabuy unveils new business strategy
SET-listed electronics vending and billing machine provider Sabuy Technology (SABUY) is transforming its business ecosystem to become a localised fintech firm capitalising on the wave of the new economy.
SABUY, which has been gearing up for portfolio diversification over the past year, yesterday announced its new business strategy called "SABUYVERSE", which drives towards 3 business themes, featuring 7 conveniences, 7 smarts and 7 rising stars.
The company also aims to launch SABUY's utility coin by the third quarter of this year. It has also partnered with RS Group, an entertainment and digital market firm, to allow customers to use Popcoin, RS's newly launched token, for SABUY's services.
Chookiat Rujanapornpaje, chief executive of SABUY, said the SABUYVERSE strategy will foster business ecosystem that would assist small and medium-sized enterprises (SMEs), corporates and Thai people by providing access to tech-driven solutions.
"From 2022, the company is ready to become a fintech firm thanks to its expansion of 4 core businesses, covering payment, merchandising, business solutions and financial services," said Mr Chookiat.
This year, SABUY has engaged in fields within the new economy, such as innovation and digital assets, through its subsidiaries Sabuy Accelerator and Sabuy Digital.
Sabuy Digital provides services in relation to digital asset investment and blockchain technology. The firm has partnered with RS Group to use Popcoin in SABUY's service ecosystem as a universal platform for all partners.
SABUY, he said, plans to roll out its own token, called SABUY coin by September this year.
Sabuy Accelerator is an innovation investment arm of SABUY, which will enhance SABUYVERSE ecosystem and promote local startups. The firm has been approved to invest in EATLAB, which provides service as a solution (SaaS) for restaurant management, and Keen Profile (Thailand), which provides human resource management solutions.
According to Mr Chookiat, 5 billion baht has been set aside for investment this year with a target of 100% revenue increase year-on-year.
"We want to create a further growth engine for entire business ecosystem in the new economy," he said.
Referring to 7 conveniences, Mr Chookiat said the move refers to conveniences provided by SABUY in retail purchase, parcel delivery, laundry, operating system, remittance, money transfer as well as bill payment.
In the retail realm, SABUY is providing various retail services, such as vending machines, gasoline dispensers and convenience stores.
SABUY also provides a self-laundry service at LaundryBar shops.
In terms of operating system, the firm provides solutions for SMEs and enterprises, such as a point-of-sale system, a food court management programme, accounting software as well as sales and human resource management solutions.
SABUY is also gearing up to develop a payment system that can cater for all kinds of remittances, including digital currency.
In terms of parcel delivery, the company has 6 affiliated brands covering 10,000 locations and 20,000 outlets of its partners.
Regarding 7 smarts, SABUY will gear up for technology development in factories, offices, schools, canteens, car parking, homes and lockers.
In terms of 7 rising stars, two of these refer to Sabuy Accelerator and Sabuy Digital. The remainder are Sabuy as a solution (SaaS); Sabuy Speed, a holding firm dealing with delivery and other related businesses; Sabuy Channel, a developer of new business, such as EV charger spots; Sabuy Media, which engages in media investment, and Sabuy Infrastructure, which invests in infrastructure, such as cloud systems.
At present, SABUY operates 57,000 top-up machines and 5,600 vending machines as well as food court systems at 231 locations. It also has 4,040 Shipsmile outlets and 170 Plus Express postal service outlets.