Latest news with #YYGroupHoldingLimited
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
Yahoo
21-05-2025
- Business
- Yahoo
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 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
