YY Group Expands into Cambodian Hospitality and Hotel Industry
SINGAPORE, May 10, 2024 (GLOBE NEWSWIRE) — YY Group Holding Limited (NASDAQ: YYGH) (“YY Group”, “YYGH”, or the “Company”), a data and technology-driven company that specializes in creating enterprise intelligent labor matching services and smart cleaning solutions, is pleased to announce its entry into the Cambodian hospitality and hotel industry.
This expansion, which follows on the Company’s recent entry into Vietnam and Malaysia, is expected to help YY Group gain market share in Cambodia. The Company estimates that the Cambodian hotel industry has the potential for over $106 million in revenue by 2024.
“We are excited to support the thriving hotel industry in Cambodia,” said Mike Fu, Founder and Chief Executive Officer of YY Group. “This expansion builds upon our established relationships with major hotels in other regions, and is a key step toward achieving our vision of becoming Singapore’s #1 on demand staffing platform.”
With its entry into Cambodia, YY Group will utilize its YY Circle Super App (“YY App”) to provide staffing for the country’s hospitality and hotel industry. The YY App is a one-stop intelligent manpower outsourcing platform that simplifies and streamlines the staffing process for customers across diverse industries, including luxury hotels, food and beverage outlets, clubs and retail outlets. The YY App has proven its effectiveness in connecting businesses with qualified talent.
About YY Group Holding Limited
YY Group Holding Limited is a Singapore-based company dedicated to redefining digital interactions and creating impactful connections in the ever-evolving digital landscape. Rooted in innovation and a commitment to user-centric experiences, YY Circle leverages sophisticated technology to foster engagement, collaboration, and community building.
For more information on the Company, please log on to https://yygroupholding.com/.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
For further information, please contact:
Singapore Investor Contact
Phua Zhi Yong, Chief Financial Officer
YY Group
jason.phua@yygroupholding.com
U.S. Investor Contact
Jack Perkins
KCSA Strategic Communications
YYGroup@kcsa.com
