Latest news with #YYGroup
Yahoo
5 days ago
- Business
- Yahoo
YY Group Reports 65% Quarterly Growth in UAE and Expands Operations to Perth, Australia
Singapore, Aug. 15, 2025 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) ('YY Group,' 'YYGH,' or the 'Company'), a global leader in on-demand workforce solutions and integrated facility management (IFM), today announced the official launch of YY Circle Perth with its first client engagement. This marks the Company's expansion within Australia's large and dynamic casual workforce market, reinforcing its position and driving the next phase of its international growth strategy. Australia's casual workforce is estimated at 2.4 million, representing roughly 21.3% of the total labor force and an approximate market size of AUD 150 billion (approximately US$97.5 billion). The size and dynamics of this market align strongly with YY Group's platform capabilities, which have been proven in multiple international markets. Leveraging its established model for rapid deployment, client onboarding, and technology-driven workforce matching, the Company is targeting potential revenues of AUD11.6 million (approximately US$7.5 million) in Australia by 2027. Initial operations will be strategically concentrated in Perth, Sydney, and Melbourne, three cities with dense hospitality, tourism, and service sectors that exhibit strong seasonal and event-driven labor demand. From there, YY Group plans a phased expansion into additional metropolitan areas, with the flexibility to target emerging demand centers as new opportunities arise. The Company's Australian operations will integrate seamlessly with YY Circle's global systems, enabling centralized data analytics, operational oversight, and AI-driven efficiency improvements. With a sizable and growing casual labor pool, Australia presents a strong opportunity for YY Group to replicate its proven on-demand workforce model. The Company's entry strategy focuses on securing contracts with high-demand, enterprise-level clients in sectors where flexible staffing is essential for managing cost, service quality, and operational agility. By leveraging its technology-driven platform, rigorous recruitment and vetting processes, and deep hospitality expertise, YY Group aims to establish a strong competitive position early, paving the way for sustainable growth. The Company's operational playbook for new markets has already proven successful in the Middle East. YY Circle UAE, operational since May 2024, recorded an average 65% revenue increase in each of the first two quarters compared to the last quarter of 2024, supported by the addition of four premium hospitality clients: Mandarin Oriental, Raffles The Palm, Swissôtel, and Shangri-La. These partnerships position YY Group among the leading workforce providers for luxury hospitality in the region and confirm its ability to secure and retain high-value contracts. 'We are executing a focused growth plan, entering large, under-served markets with a proven model while deepening relationships with world-class clients. The performance in Dubai and the expansion in Australia demonstrate the scalability of our platform and our ability to replicate success across regions. This is not just about geographic expansion, it is about delivering consistent, measurable results in diverse operating environments', said Mike Fu, Group Chief Executive Officer of YY Group Holding Limited. Looking ahead, YY Group intends to maintain its dual focus on expanding into high-potential new markets while strengthening its position in established territories. The Company continues to invest in platform enhancements, including AI-powered scheduling, automated compliance management, and advanced performance tracking, all designed to improve client outcomes and operational efficiency. These capabilities, coupled with a disciplined market entry approach, provide a clear pathway toward achieving the Company's growth targets. By combining strategic market selection, technology leadership, and premium client partnerships, YY Group is well-positioned to capture a meaningful share of the global flexible workforce market, which continues to expand as businesses seek more agile staffing solutions in response to shifting economic conditions and customer expectations. The expansion in Australia and the growth in the UAE underscore YY Group's capacity to execute its vision and create long-term value for shareholders. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements relating to the Company's market entry and expansion plans in Australia, projected market size and revenue potential, operational growth in the UAE, the scalability of the YY Circle platform across regions, and the Company's overall business outlook and strategic initiatives. These statements are based on the current expectations and beliefs of YY Group Holding Limited's ('the Company') management and are subject to a number of risks, uncertainties, and assumptions. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statement include, but are not limited to: (i) the Company's ability to successfully launch and scale operations in Australia, UAE and other new markets; (ii) market demand and adoption for the Company's workforce solutions in Australia; (iii) competitive pressures in the casual labor and hospitality sectors in Australia and the UAE; (iv) changes in economic conditions, labor market dynamics, or client spending patterns; (v) regulatory developments or changes in employment laws; and (vi) other risks and uncertainties disclosed in the Company's filings with the U.S. Securities and Exchange Commission. In some cases, forward-looking statements can be identified by terminology such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' or other similar expressions. These statements are made only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. About YY Holdings Limited:YY Group Holding Limited (Nasdaq: YYGH) is a Singapore-headquartered, technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management (IFM) services across Asia and beyond. The Group operates through two core verticals: on-demand staffing and IFM, delivering agile, reliable support to industries such as hospitality, logistics, retail, and healthcare. Leveraging proprietary digital platforms and IoT-driven systems, YY Group enables clients to meet fluctuating labor demands and maintain high-performance environments. In addition to its core operations in Singapore and Malaysia, the Group maintains a growing presence in Asia, Europe, Africa, Oceania and the Middle East. Listed on the Nasdaq Capital Market, YY Group is committed to service excellence, operational innovation, and long-term value creation for clients and shareholders. For more information on the Company, please log on to Investor ContactPhua Zhi Yong, Chief Financial OfficerYY Groupenquiries@ Mark Niu, Chief Strategy Officer, YY in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-06-2025
- Business
- Yahoo
YY Group Holding Limited Acquires Majority Stake in Transocean Oil Pte. Ltd.
Singapore, June 18, 2025 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) ('YY Group,' 'YYGH,' or the 'Company'), a global leader in on-demand workforce solutions and integrated facility management (IFM), has acquired a 53% stake in Transocean Oil Pte. Ltd.'s property investment division, specializing in premium commercial office units in Singapore. This marks YY Group's entry into the property investment sector, expanding its portfolio, diversifying revenue streams, and establishing a foothold in Singapore's dynamic real estate market. Strategic Significance The acquisition supports YY Group's growth strategy, taking advantage of Singapore's booming real estate market, projected to grow at 6.5% annually from 2025 to 2030. 'Adding premium properties to our portfolio boosts investor confidence and strengthens our business,' said Mike Fu, CEO of YY Group. Market Impact Transocean's properties offer flexibility for internal use or rental income, aligning with YY Group's focus on sustainable growth. Transocean will operate as a property investment arm, generating rental income and benefiting from rising property values. Operational Plans Transocean's operations will integrate seamlessly into YY Group's framework, with a dedicated team ensuring high-quality service delivery and leveraging the 24iFM app to enhance client experiences. The Group remains ready to explore further opportunities in Singapore's property market. Revenue and Growth Potential In 2024, Transocean's properties generated S$223,000 from three commercial units. With its 53% stake, YY Group gains a controlling interest, positioning itself for long-term gains and strategic growth. Enhancing Stakeholder Value This acquisition highlights YY Group's commitment to diversifying its portfolio and strengthening its position in the property investment and IFM industries, boosting investor confidence and ensuring sustainable growth. 'This move allows us to better understand and address our clients' needs, improving services and advancing our 24iFM application,' Mike added. Safe Harbor StatementThis press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including those regarding YY Group Holding Limited's beliefs and expectations about its acquisition of Transocean Oil Pte. Ltd., are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to: (i) fluctuations in Singapore's property market and its impact on asset values, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) anticipated growth strategies and integration plans, (v) regulatory changes or governmental approvals, and (vi) future business development, operational results, and financial performance of YY Group Holding Limited. In some cases, forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to,' or other similar expressions. All information provided in this press release is as of the date of this press release, and YY Group Holding Limited undertakes no obligation to update such information, except as required under applicable Transocean Oil Pte. Ltd.:Founded in 2003, Transocean Oil Pte. Ltd. is a trusted name in Singapore's maritime industry, specializing in ship bunkering, ship management, and chartering services. Strategically located in one of the world's busiest ports, they provide essential support to vessels navigating global waters, ensuring smooth operations with reliable fuel supply and expert ship handling. Their services extend to the management and chartering of tugboats, barges, and other maritime vessels, making us a versatile partner in the shipping and logistics ecosystem. With a commitment to excellence and customer satisfaction, Transocean Oil continues to deliver efficient, innovative, and sustainable solutions tailored to the dynamic needs of the maritime industry. About YY Holdings Limited:YY Group Holding Limited (Nasdaq: YYGH) is a Singapore-headquartered, technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management (IFM) services across Asia and beyond. The Group operates through two core verticals: on-demand staffing and IFM, delivering agile, reliable support to industries such as hospitality, logistics, retail, and healthcare. Leveraging proprietary digital platforms and IoT-driven systems, YY Group enables clients to meet fluctuating labor demands and maintain high-performance environments. In addition to its core operations in Singapore and Malaysia, the Group maintains a growing presence in Asia, Europe, Africa, Oceania and the Middle East. Listed on the Nasdaq Capital Market, YY Group is committed to service excellence, operational innovation, and long-term value creation for clients and shareholders. For more information on the Company, please log on to Investor ContactPhua Zhi Yong, Chief Financial OfficerYY Groupenquiries@ Mark Niu, Chief Strategy Officer, YY in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
YY Group Secures Strategic Entry into Thailand with Completion of YY Circle Thailand Share Transfer
Singapore, June 03, 2025 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) ('YY Group,' 'YYGH,' or the 'Company'), a global leader in on-demand workforce solutions and integrated facility management (IFM), is pleased to announce the successful completion of the share transfer of YY Circle Thailand on June 1, 2025. This milestone marks a significant step in YY Group's strategy to expand its presence in Southeast Asia's dynamic economies. YY Circle Thailand is now officially part of YY Group's portfolio, providing an enhanced platform to address workforce demands in Thailand's vibrant casual labor market, valued at approximately THB170 billion (US$5 billion) annually. The completion of the transaction ensures a seamless transition, with Jirapat Haetanurak, the Country Director of YY Circle Thailand, will remain with YY Circle Thailand and continue to lead local operations. Jirapat's leadership will be instrumental in leveraging local expertise while integrating YY Group's innovative technology and operational strategies. 'Finalizing this acquisition is a pivotal moment for YY Group as we deepen our commitment to addressing the needs of Thailand's workforce and businesses,' said Mike Fu, Chief Executive Officer and Executive Director at YY Group Holding Limited. 'Through YY Circle Thailand, we aim to deliver cutting-edge solutions that empower businesses to adapt to workforce challenges while creating value for casual laborers.' Thailand's gig economy, driven by sectors such as hospitality, retail, and logistics, presents growing opportunities for flexible and scalable workforce solutions. YY Circle Thailand will enable businesses to thrive in this evolving landscape by connecting them with a reliable, technology-driven platform for on-demand talent. 'Joining YY Group marks the beginning of an exciting chapter for YY Circle Thailand,' said Jirapat Haetanurak. 'Together, we will bring innovative solutions to the Thai market, driving operational efficiency and creating opportunities for growth.' This successful acquisition underscores YY Group's strategic focus on localized solutions and sustainable growth, reinforcing its position as a leader in workforce innovation across Asia. Safe Harbor StatementThis press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about YY Group Holding Limited's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and several factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) the gig economy and casual labor market in Thailand, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) governmental approvals and regulations, and (vi) our future business development, results of operations, and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. All information provided in this press release is as of the date of this press release, and YY Group Holding Limited undertakes no duty to update such information, except as required under applicable law. About YY Circle:YY Circle is a leading provider of interactive social networking solutions, dedicated to connecting individuals through innovative technology. With a focus on user experience and community engagement, YY Circle aims to foster meaningful connections and empower individuals worldwide. About YY Holdings Limited:YY Group Holding Limited (Nasdaq: YYGH) is a Singapore-headquartered, technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management (IFM) services across Asia and beyond. The Group operates through two core verticals: on-demand staffing and IFM, delivering agile, reliable support to industries such as hospitality, logistics, retail, and healthcare. Leveraging proprietary digital platforms and IoT-driven systems, YY Group enables clients to meet fluctuating labor demands and maintain high-performance environments. In addition to its core operations in Singapore and Malaysia, the Group maintains a growing presence in Southeast Asia, Europe, and the Middle East. Listed on the Nasdaq Capital Market, YY Group is committed to service excellence, operational innovation, and long-term value creation for clients and shareholders. For more information on the Company, please log on to Investor ContactPhua Zhi Yong, Chief Financial OfficerYY GroupEnquiries@ Mark Niu, Chief Strategy Officer, YY in to access your portfolio
Yahoo
03-06-2025
- Business
- Yahoo
YY Group Secures Strategic Entry into Thailand with Completion of YY Circle Thailand Share Transfer
Singapore, June 03, 2025 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) ('YY Group,' 'YYGH,' or the 'Company'), a global leader in on-demand workforce solutions and integrated facility management (IFM), is pleased to announce the successful completion of the share transfer of YY Circle Thailand on June 1, 2025. This milestone marks a significant step in YY Group's strategy to expand its presence in Southeast Asia's dynamic economies. YY Circle Thailand is now officially part of YY Group's portfolio, providing an enhanced platform to address workforce demands in Thailand's vibrant casual labor market, valued at approximately THB170 billion (US$5 billion) annually. The completion of the transaction ensures a seamless transition, with Jirapat Haetanurak, the Country Director of YY Circle Thailand, will remain with YY Circle Thailand and continue to lead local operations. Jirapat's leadership will be instrumental in leveraging local expertise while integrating YY Group's innovative technology and operational strategies. 'Finalizing this acquisition is a pivotal moment for YY Group as we deepen our commitment to addressing the needs of Thailand's workforce and businesses,' said Mike Fu, Chief Executive Officer and Executive Director at YY Group Holding Limited. 'Through YY Circle Thailand, we aim to deliver cutting-edge solutions that empower businesses to adapt to workforce challenges while creating value for casual laborers.' Thailand's gig economy, driven by sectors such as hospitality, retail, and logistics, presents growing opportunities for flexible and scalable workforce solutions. YY Circle Thailand will enable businesses to thrive in this evolving landscape by connecting them with a reliable, technology-driven platform for on-demand talent. 'Joining YY Group marks the beginning of an exciting chapter for YY Circle Thailand,' said Jirapat Haetanurak. 'Together, we will bring innovative solutions to the Thai market, driving operational efficiency and creating opportunities for growth.' This successful acquisition underscores YY Group's strategic focus on localized solutions and sustainable growth, reinforcing its position as a leader in workforce innovation across Asia. Safe Harbor StatementThis press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about YY Group Holding Limited's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and several factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) the gig economy and casual labor market in Thailand, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) governmental approvals and regulations, and (vi) our future business development, results of operations, and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. All information provided in this press release is as of the date of this press release, and YY Group Holding Limited undertakes no duty to update such information, except as required under applicable law. About YY Circle:YY Circle is a leading provider of interactive social networking solutions, dedicated to connecting individuals through innovative technology. With a focus on user experience and community engagement, YY Circle aims to foster meaningful connections and empower individuals worldwide. About YY Holdings Limited:YY Group Holding Limited (Nasdaq: YYGH) is a Singapore-headquartered, technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management (IFM) services across Asia and beyond. The Group operates through two core verticals: on-demand staffing and IFM, delivering agile, reliable support to industries such as hospitality, logistics, retail, and healthcare. Leveraging proprietary digital platforms and IoT-driven systems, YY Group enables clients to meet fluctuating labor demands and maintain high-performance environments. In addition to its core operations in Singapore and Malaysia, the Group maintains a growing presence in Southeast Asia, Europe, and the Middle East. Listed on the Nasdaq Capital Market, YY Group is committed to service excellence, operational innovation, and long-term value creation for clients and shareholders. For more information on the Company, please log on to Investor ContactPhua Zhi Yong, Chief Financial OfficerYY GroupEnquiries@ Mark Niu, Chief Strategy Officer, YY in to access your portfolio
Associated Press
21-05-2025
- Business
- Associated Press
YY Group Plans Expansion to Thailand, Targeting US$5 Billion Casual Labor Market
Singapore, May 21, 2025 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) ('YY Group,' 'YYGH,' or the 'Company'), a global leader in on-demand workforce solutions and integrated facility management (IFM), is thrilled to announce its plans to establish a significant presence in Thailand through the acquisition of YY Circle Thailand. YY Group and YY Circle Thailand are in the process of reaching a definitive agreement, and the transaction is expected to close on June 2, 2025, with the completion of customary closing conditions. This acquisition marks a pivotal step in YY Group's Southeast Asia expansion strategy. This strategic acquisition highlights YY Group's commitment to empowering businesses and workers in Thailand's vibrant casual labor market, currently estimated to be valued at THB170 billion (US$5 billion) annually. The market's growth trajectory, with casual labor expected to encompass over 40% of the workforce by 2027, presents a transformative opportunity for YY Group to address critical challenges in the labor market. The acquisition will see Jirapat Haetanurak, a seasoned leader and respected industry expert, assume the role of Country Director while maintaining a 10% equity stake in YY Circle Thailand. Jirapat's continued leadership ensures seamless continuity, localized expertise, and strategic growth in Thailand's competitive market. 'Our move into Thailand is a testament to YY Group's bold vision of redefining workforce solutions in Southeast Asia,' said Mike Fu, Chief Executive Officer and Executive Director at YY Group Holding Limited. 'This thriving market offers immense potential, and with Jirapat's leadership and our innovative technology, we are ready to unlock new opportunities for businesses and workers alike. With a projected annual profit of THB76.9 million (approximately US$2.32 million) by 2029, we are confident in delivering significant value to our stakeholders', he further explained. YY Circle, the Company's flagship platform, is set to revolutionize the casual labor landscape by connecting businesses with on-demand talent and offering them vital tools and resources for stability and success. This localized approach will enable YY Group to address workforce shortages in key industries like hospitality, retail, and logistics while enhancing operational efficiency. 'Thailand's casual labor market is brimming with untapped potential,' added Jirapat Haetanurak, Country Director of YY Circle Thailand. 'Through YY Circle, we will empower businesses to meet their workforce demands while creating better opportunities for casual laborers to thrive in an evolving economy', he added. This acquisition signals YY Group's unwavering dedication to creating innovative, localized solutions that drive growth and efficiency in new markets. The planned entry into Thailand underscores the Company's commitment to expanding its global footprint while delivering sustainable value to its clients and investors. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about YY Group Holding Limited's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include but are not limited to (i) growth of the labor market in Thailand, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) governmental approvals and regulations, and (vi) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. All information provided in this press release is as of the date of this press release, and YY Group Holding Limited undertakes no duty to update such information except as required under applicable law. About YY Circle: YY Circle is a leading provider of interactive social networking solutions, dedicated to connecting individuals through innovative technology. With a focus on user experience and community engagement, YY Circle aims to foster meaningful connections and empower individuals worldwide. About YY Holdings Limited: YY Group Holding Limited (Nasdaq: YYGH) is a Singapore-headquartered, technology-enabled platform providing flexible, scalable workforce solutions and integrated facility management (IFM) services across Asia and beyond. The Group operates through two core verticals: on-demand staffing and IFM, delivering agile, reliable support to industries such as hospitality, logistics, retail, and healthcare. Leveraging proprietary digital platforms and IoT-driven systems, YY Group enables clients to meet fluctuating labor demands and maintain high-performance environments. In addition to its core operations in Singapore and Malaysia, the Group maintains a growing presence in Southeast Asia, Europe, and the Middle East. Listed on the Nasdaq Capital Market, YY Group is committed to service excellence, operational innovation, and long-term value creation for clients and shareholders. For more information on the Company, please log on to Investor Contact Phua Zhi Yong, Chief Financial Officer YY Group [email protected] Mark Niu, Chief Strategy Officer, YY Group [email protected]
