SABUY aims to close TKC-AIT deal at the end of November to expand ecosystem, explains budget for 9 months, net profit declines but regular profits grow significantly: InfoQuest

Mr. Wirat Murakotkarn, CEO, Commercial and Investment Group, Sabai Technology Public Limited (SABUY), revealed that during the first nine months of 2023, the company has continuously expanded its business and added partners. To cover and enhance the ecosystem, including expanding and enhancing the capabilities (synergies) of the group of companies. The business is grouped into 6 main business groups: 1. Connext 2. Enterprise & Life 3. Payments & Wallet 4. Financial Inclusion 5. InnoTainment and 6. Venture, which has undergone major changes as follows.

1. Enterprise and Life Business Group: The company invested in S2SMART, which provides labor contracting services in the central region. To expand the business volume of SABUY Outsourcing Group and has plans for further investment in the future.

2. Payments and Wallet Business Group: The company has collaborated with Bangkok Bank (BBL) as the banking agent through SABUY COUNTER, which will serve as a service point for depositing and withdrawing cash through stores offering express delivery and pickup services throughout Thailand. Use the SABUY SPEED network with more than 150 service points for depositing and withdrawing cash nationwide. Deposit services through “Tem Sabai Plus” recharge machines make deposit and cash withdrawal transactions more convenient and easy.

3. InnoTainment Business Group: From the Company’s previous investment in AS, the Company acknowledged and agreed to allow AS to invest in Bitkub Online (BO) in order to expand its digital platform, exchange and technology business. Possible. To expand SABUY’s diverse business groups and invest in NIPA Cloud Company to increase cloud and digital marketing agency capabilities in Southeast Asia. It is applied to digital asset businesses, including digital platform, especially with SABUY Digital and SABUY Infrastructure.

The company has leveraged the ecosystem by investing with different partners in 2022, such as SBNEXT, Asphere, SPEED (Drop-Off Business Group), LOVLS, BZB and others that are diverse and different in its business. Including the creation of subsidiaries in the group when imported into the company’s ecosystem, it is able to meet the needs of all service users/customers in all target groups. Including effective management of unit costs.

In this regard, the exchange process between TKC and AIT is currently underway. The entire process is expected to be completed by the end of November, which will strengthen SABUY Group in expanding its comprehensive services to large corporate clients.

Mr. Narongchai Wongthanavimuk, CEO of SABUY Accounting and Finance Group, reveals operating results for the first nine months of this year. Which is growing tall with a total income of 7,564 million baht, an increase of 165% from the total income of 2,850 million baht, and the normal profit grew 91% over the normal profit in the first nine months of last year. But there was a net profit of 383 million baht, down from 964 million baht in the same period last year. This is because last year there was a high profit from investment evaluation.

In the third quarter of 2022, the company’s total income reached 2,468 million baht, an increase of 111% from the total income of 1,172 million baht compared to the same period last year, and the total profit was 667 million baht, an increase of 297 million baht. Or 80%, gross profit margin was 27%, down from 32% but up from 24% in the second quarter of 2023. The main reason was the result of the group having a wider range of products and services and increasing wholesale sales. Which has different price competitive markets with operating profit after incremental business set-up expenses of 203 million baht.

It achieved a net profit of 37 million baht during the period, a decrease of 463 million baht over the same period last year, by 93%, mainly due to the profit from measuring the fair value of investments in the previous year.

However, in order to increase efficiency and future performance, the company has taken adaptation measures, such as adding measures to select water filter customers in the installment payment system to make it more stringent. This bonus has been increased in preparation for future fragile economic conditions. Consider selling some of the companies that are not working to strengthen the ecosystem and reduce duplication of operations by continuing to operate according to the corporate structure plan. To add value and increase the ability to adapt to future changes. The company will proceed according to the plan carefully and diligently to increase operational results under difficult economic conditions in order to satisfy customers and partners, including all stakeholders. In this regard, the company still believes in the operating plan, including controlling various expenses, which continues to move forward strongly. This is reflected in the ability to generate income, which is still good. Even in difficult situations like today

In the third quarter of 2023, the group of companies increased income from the same key companies such as SBNEXT, SABUY Market Plus, SABUY SPEED, SABUY Alliances, PTECH, BZB, and LOVLS, companies that have the potential to grow steadily.Continuing this quarter including research About new job opportunities. Which enhance the company’s growth, such as adding touchpoints and B2C sales channels through the ShopDD platform and acting as a banking agent for Bangkok Bank in depositing and withdrawing cash through the company’s channels, etc. The company also implements strategies that focus on sustainability in employee development, risk control and internal audit, including improving the sales and service system in accordance with the seven SMART guidelines to increase income for each product and service. In addition, the company has been researching new sales channels and markets. Including a comprehensive organizational restructuring that emphasizes solution sales to align with the 7th Smart Business Plan, the company continues to maintain sustainable growth as targeted.

By InfoQuest News Agency (Nov 17, 23)

Tags: SABUY, Wirat Morakotkarn, Sabai Technology, Thai stocks

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