YY Group Holding Limited.

The global workforce is in the midst of a major shift. Companies increasingly rely on temporary and flexible staffing to manage costs and respond to fluctuating demand, while many workers seek alternatives to traditional full-time roles. In 2024, the temporary and flexible labor market was estimated at USD 537 billion, and is projected to grow at about 6.4% annually to reach nearly USD 881 billion by 2032[1]. At the same time, the facility management market, already a larger opportunity, stood at roughly USD 1,315.7 billion in 2024, and is expected to expand to USD 2,284.8 billion by 2032, growing at around 8.2% compounded annually[2]. YY Group operates at the intersection of these two expanding markets, positioning itself to address inefficiencies that have persisted even as these industries have matured and adopted new technologies.

Source: Company Documents

Traditional staffing models fail both workers and employers in predictable ways. Companies struggle with an unreliable labor supply, often discovering at the last minute that scheduled workers fail to appear. Manual attendance tracking often leads to disputes over hours worked and wages owed. Background verification remains superficial or non-existent, exposing businesses to operational and reputational risks. Workers face their own frustrations, including delayed payments that can stretch weeks beyond service delivery, limited visibility into available opportunities, and a lack of systematic ways to build verified work histories that could unlock better positions. These friction points compound in industries such as hospitality and retail, where demand spikes unpredictably and service quality has a direct impact on revenue.

Facility management suffers from various, yet equally entrenched, problems. Property managers typically coordinate with dozens of vendors across cleaning, security, maintenance, landscaping, and specialized services. Each vendor brings its own systems, reporting formats, and communication protocols. A condominium manager might use one app for resident communications, another for vendor management, spreadsheets for maintenance tracking, and phone calls for urgent issues. This fragmentation creates blind spots where problems escalate unnoticed, coordination failures that frustrate residents, and administrative overhead that inflates costs without improving service.

Regional markets reveal distinct characteristics that shape YY Group's expansion strategy. The Netherlands exemplifies Europe's embrace of flexible work arrangements, with 44% of its workforce engaged in part-time employment, one of the highest rates globally. This $80 billion market combines strong worker protections with employer flexibility needs, creating demand for platforms that can navigate regulatory complexity while delivering reliability and efficiency. Australia's casual workforce market, valued at approximately $97.5 billion, reflects similar dynamics with 2.4 million workers, roughly 21% of the total labor force, engaged in casual employment. These workers lack traditional employment benefits but gain scheduling flexibility, making them ideal candidates for platform-based matching systems.

Southeast Asian markets offer distinct opportunities, driven by rapid economic growth and evolving service expectations. Thailand's tourism sector, recovering strongly from pandemic disruptions, drives intense seasonal labor demand that traditional agencies struggle to fulfill efficiently. Singapore's high labor costs and stringent foreign worker regulations prompt businesses to adopt technology-enabled solutions that maximize productivity. Malaysia's growing middle class demands higher service standards in retail and hospitality, creating pressure for better-trained, more reliable workers. Across these markets, smartphones have become ubiquitous even among lower-income workers, enabling digital platforms to reach previously inaccessible labor pools.

The convergence of several trends accelerates market growth beyond simple demographic expansion. Businesses are increasingly viewing labor as a variable rather than a fixed cost, adjusting workforce levels to match real-time demand. The gig economy has normalized flexible work arrangements, with younger workers particularly comfortable with app-based employment. Rising minimum wages in developed markets push companies to optimize labor deployment rather than simply adding hours. Environmental and safety regulations in facility management require specialized expertise and documentation that fragmented vendor networks struggle to provide.

Technology adoption remains uneven across these massive markets, creating an opportunity for platforms that can bridge traditional practices with digital efficiency. While venture-backed startups have targeted specific niches, comprehensive solutions that address the full spectrum of workforce and facility needs remain rare. Most existing platforms focus exclusively on either staffing or facilities, missing the natural synergies between these interconnected operational requirements. YY Group's dual-market approach positions it to capture value that single-focus competitors cannot access, particularly in industries like hospitality, where workforce and facility excellence determine competitive advantage.

[1] Source: Verified Market Research – Temporary Labor Market Report (2024–2032) https://www.verifiedmarketresearch.com/product/temporary-labor-market

[2] Source: Fortune Business Insights – Facility Management Market Report (2024–2032) https://www.fortunebusinessinsights.com/industry-reports/facility-management-market-101658

YY Group operates two distinct technology platforms that address workforce and facility management through integrated digital systems. The staffing platform connects workers with businesses through a three-portal architecture, while the facility management system, branded as 24iFM, coordinates property operations across multiple stakeholder groups. Recent additions of artificial intelligence assistance, robotics, and blockchain-based payments expand the platforms' capabilities beyond traditional industry offerings.

Source: Company Documents

The staffing platform divides functionality across three user interfaces. Workers use the YY Circle mobile application to browse available shifts, complete training modules, and track earnings. The system verifies each worker through background checks that validate identity, work history, and relevant certifications. After verification, workers accumulate scores based on attendance patterns, client ratings, and completed training. Higher scores unlock access to better-paying assignments and loyalty rewards, creating measurable incentives for reliability and trust. Companies access a separate portal to post staffing needs with specific skill requirements and monitor fulfillment rates. Digital attendance tracking eliminates the need for manual timesheets, utilizing IoT systems and mobile check-ins to automatically record hours worked and trigger payment processing.

Source: Company Documents

The 24iFM platform takes a unique approach to facility management, recognizing that properties necessitate coordination among managers, residents, vendors, and security personnel. Property managers view consolidated dashboards that display service status across various functions, including cleaning, maintenance, security, and others. Approved vendors access a marketplace where they bid on specific tasks while the system tracks their performance metrics. Residents submit service requests and receive progress updates through their own portal. Security teams use mobile interfaces for visitor registration, patrol reporting, and incident escalation. This structure replaces the fragmented communication channels and spreadsheet-based tracking that characterize traditional property management. Previously disconnected solutions like iCondo for residents, various management tools, and separate vendor systems are now unified under one platform, eliminating coordination failures.

Artificial intelligence capabilities introduced in August 2025 automate several functions that previously required human intervention. Natural language processing now handles routine customer service inquiries about account status, payment issues, and service navigation. The AI recruitment platform conducts preliminary candidate screening through automated interviews, analyzing responses for clarity of communication, relevant experience, and suitability for the role. These systems generate standardized assessments that accelerate hiring while reducing subjective bias. The technology handles repetitive tasks, allowing staff to focus on complex problems and relationship management.

The robotics program launched in July 2025 introduces physical automation to complement digital systems. A partnership with Keenon Robotics enables service robots to be deployed at client sites for food delivery and cleaning tasks in hotels and commercial buildings. These machines handle routine logistics while human workers manage guest interactions and specialized services. A separate agreement with UnoMove will deploy autonomous drones for facade cleaning, addressing one of facility management's highest-risk activities. The robots integrate with existing scheduling and monitoring systems rather than operating as standalone units, maintaining operational continuity.

The October 2025 integration of stablecoin payment infrastructure through Obita addresses longstanding payment friction in cross-border staffing. Traditional international transfers can take days and incur high fees, which is particularly problematic for workers sending earnings to their families abroad. The new system enables near-instant transfers at minimal cost, allowing workers to choose whether to receive funds in local currency or stablecoins pegged to major currencies, thereby protecting against currency volatility while providing immediate access to earnings. The platform incorporates required compliance protocols, including identity verification and transaction monitoring, building these safeguards directly into payment workflows.

Data capabilities underpin these visible technology features. The platforms capture detailed information about worker performance, client preferences, and service patterns across millions of transactions. This data enables predictive analytics for demand forecasting, allowing clients to anticipate staffing needs before shortages occur. Pattern recognition identifies workers at risk of attrition, triggering retention interventions. Pricing algorithms adjust rates based on supply-demand dynamics within specific geographic areas and skill categories. The scale of YY Group's operations across multiple markets provides data advantages that smaller regional competitors cannot replicate.

The technology architecture reflects deliberate choices about build-versus-buy decisions. Core functions, such as identity management, payment processing, and workflow orchestration, required custom development to meet specific industry needs. Meanwhile, the company integrates specialized capabilities from partners where external expertise adds value, such as robotics from Keenon, drone technology from UnoMove, and blockchain infrastructure from Obita. This hybrid approach balances control over essential systems and access to cutting-edge capabilities that would require years to develop internally.

While many companies claim differentiation through technology or service quality, YY Group has built specific operational capabilities that create measurable advantages. The company's approach combines systematic quality controls, human-technology integration, strategic partnerships, and targeted acquisitions that together form barriers competitors struggle to replicate.

Source: Company Documents

The four-pillar quality system addresses chronic industry failures around worker reliability and service consistency. Background verification occurs before workers access the platform. Mandatory online training ensures baseline service standards, with modules covering customer interaction, safety protocols, and role-specific skills. The real-time scoring system tracks attendance, punctuality, shift acceptance rates, and client feedback, creating transparent performance metrics visible to all stakeholders. Workers with higher scores access premium assignments and receive loyalty bonuses, while those with declining scores are offered targeted coaching or have their platform access removed. These mechanisms work together to maintain the 95% fulfillment rate that distinguishes YY Group from traditional staffing providers.

The hybrid service model balances digital efficiency and human accountability. While algorithms handle matching and platforms manage transactions, on-site customer success managers provide physical presence at major client locations. These managers resolve immediate issues that apps cannot address, such as mediating disputes, adjusting to unexpected changes, and identifying upsell opportunities. This dual approach proves particularly valuable in hospitality and retail environments where service failures carry immediate revenue consequences.

The integrated facilities management proposition creates competitive advantages through service bundling. Properties using YY Group for cleaning can add security, pest control, and maintenance through the same platform, reducing vendor management complexity. Hotels staffing events through YY Circle can seamlessly add facility services. This cross-selling opportunity increases revenue per client while raising switching costs, as clients using multiple services face greater disruption from changing providers. The breadth of services also enables YY Group to bid on comprehensive facility management contracts that single-service providers cannot pursue. Geographic expansion follows a disciplined approach, targeting markets with large flexible workforce populations, supportive regulatory frameworks, and sufficient digital infrastructure for platform operations.

YY Group's client base spans hospitality, retail, logistics, and property management sectors across twelve countries. Major hotel brands, including Sofitel, Westin, Hyatt, Raffles, and Conrad, rely on the platform for staffing needs, while retailers like Watsons and food service operators, including KFC, use it for flexible workforce management. Commercial properties such as ION Orchard and Clarke Quay utilize the integrated facility management services, alongside residential developments including SkyVue and The Beverly.

Source: Company Documents

Thailand emerged as a breakthrough market in 2025 following the acquisition of YY Circle Thailand. Within months of joining the YY Group ecosystem, the subsidiary secured contracts with five luxury hotels: Hyatt, Sheraton, and three properties under Chatrium Hotels & Residences. These wins built upon an existing base that included Central Group, CP All, Shangri-La, and Banyan Tree. The rapid client acquisition demonstrates how YY Group's technology platform and operational resources enhance local market presence. Management expects Thailand to contribute meaningfully to 2025 revenue as these relationships mature and expand.

Source: Company Documents

The UAE operation showcases the model's scalability in new markets. Launched in May 2024, the subsidiary achieved 65% quarterly revenue growth through the first two quarters of operation. Premium hospitality brands drove this expansion, with Mandarin Oriental, Raffles The Palm, Swissôtel, and Shangri-La signing service agreements. These partnerships position the YY Group among the leading providers of flexible workforces for luxury hospitality in the region. Such rapid traction in a competitive market validates the platform's ability to meet international service standards while adapting to local requirements.

Source: Company Documents

Geographic expansion accelerated in late 2025, with simultaneous market entries. The Netherlands launch in September brought Kostian Skourtis as Country Manager, leveraging his 15 years of hospitality leadership experience, including senior roles at Hoxton, Hyatt, Soho House, and Hilton Amsterdam. The operation targets the country's substantial part-time workforce, focusing initially on Amsterdam's dense hospitality sector before expanding to other major cities. Australia's launch began with Sydney operations, then expanded to Perth recently. The company plans continued expansion to Melbourne, a market with larger hospitality and retail sectors that align with YY Group's strengths.

The facility management division has grown through the strategic consolidation of established service providers. Beyond the previously discussed Pest Fighter acquisition, Property Facility Services and Uniforce Security Services brought existing contracts with multiple condominiums and commercial buildings. These acquisitions provide immediate revenue while creating cross-selling opportunities. For example, a property using pest control services can add cleaning and security through the same platform relationship. This consolidation strategy transforms fragmented local providers into components of an integrated regional platform.

Client concentration remains manageable despite rapid growth. The largest clients represent hospitality chains and property management companies with multiple locations, creating natural diversification. The mix of staffing and facility management services reduces dependence on any single service line. Geographic distribution across Southeast Asia, the Middle East, North Africa, Europe, and Australia provides resilience against local economic fluctuations. The combination of enterprise accounts and smaller clients balances stability with growth potential.

Early operational metrics from new markets indicate successful replication of the core model. The Netherlands achieved positive contribution margins within the first quarter of operation. Australian operations secured their first enterprise client before formal market launch. Thailand's five hotel wins occurred faster than initial projections. The UAE's 65% quarterly growth exceeded management expectations. These results suggest that the platform's value proposition is gaining traction across diverse markets, although longer-term performance will provide better validation of its sustainable competitive advantages.

Future expansion targets markets with similar characteristics, including substantial and flexible workforce populations, growing service sectors, and regulatory environments that accommodate platform business models. The company evaluates opportunities in additional European Union countries that share the Netherlands' flexible work culture. Asian markets, including Indonesia and the Philippines, offer large workforce populations and growing hospitality sectors. The Middle East, beyond the UAE, presents opportunities in Saudi Arabia and Qatar as they develop their tourism industries. Egypt, where YY Circle has already established operations, demonstrates the model's adaptability to North African markets with its large workforce and growing tourism sector. Each potential market undergoes an assessment for workforce availability, regulatory requirements, competitive dynamics, and technology infrastructure before a commitment is made.

YY Group's leadership combines operational experience with strategic vision shaped by fifteen years in the staffing and facility management industries. Mike Fu founded the company in 2010 and continues as Group CEO, driving the expansion from Singapore operations to the current twelve-country footprint. His background spans manpower solutions and staffing operations, providing direct insight into the inefficiencies the platform now addresses. Co-founder Zhang Fan, who serves as Executive Director, leads business development and strategic partnerships, instrumental in securing the enterprise clients and international expansion that define YY Group's growth trajectory.

Source: Company Documents

The executive team brings complementary expertise across finance, operations, technology, and strategy. Jason Phua serves as Chief Financial Officer, holding both Chartered Accountant credentials from the Institute of Singapore Chartered Accountants and an honors degree in banking and finance from the University of London. Rachel Xu leads human resources as Chief Human Resource Officer, drawing on fifteen years of combined experience in hospitality, manpower, and cleaning services while maintaining membership in the Singapore Human Resource Institute. Ken Teng operates as Chief Information Officer while managing Malaysia operations. He brings senior IT leadership experience from FC Club and Hiap Teck Venture Berhad, complemented by his IT degree from Olympia College Malaysia. Mark Niu rounds out the executive team as Chief Strategy Officer, contributing a Ph.D. from the National University of Singapore and experience co-founding a health-tech company that achieved unicorn status.

Source: Company Documents

Country management structure reflects YY Group's commitment to local expertise rather than remote oversight. Each market receives dedicated leadership with deep regional knowledge and industry relationships. In the Netherlands, Kostian Skourtis brings fifteen years of hospitality leadership from properties including Hoxton, Hyatt, Soho House, and Hilton Amsterdam. Thailand operations benefit from Jirapat Haetanurak's local market knowledge and established industry connections. The UAE subsidiary operates under the leadership of Ramy Mahmoud Attia, while Anthony Ip manages the expansion in Hong Kong. This distributed leadership model ensures cultural alignment, regulatory compliance, and responsive market adaptation.

Source: Company Documents

The management team's strategic direction emphasizes technology-enabled service delivery over pure labor arbitrage. Rather than competing solely on price, the company invests in capabilities that create structural advantages, including verification systems that ensure worker quality, training programs that enhance service delivery, and technology infrastructure that reduces operational friction. This approach targets enterprise clients willing to pay premiums for reliability and accountability, rather than competing on the basis of cost alone.

International expansion follows a methodical process guided by market analysis rather than opportunistic entry. Management evaluates workforce dynamics, regulatory frameworks, competitive landscapes, and technology readiness before committing resources. The simultaneous launches in the Netherlands and Australia demonstrate the capacity to execute multiple market entries while maintaining operational standards. The rapid success in Thailand and the UAE validates the model's transferability across diverse economic and cultural contexts.

The leadership team has navigated several strategic transitions since the company's founding. The evolution from pure staffing to integrated facility management required new operational capabilities and technology infrastructure. The shift from Singapore-Malaysia concentration to international expansion demanded new organizational structures and capital resources. The integration of artificial intelligence, robotics, and blockchain payments represents the latest transformation, positioning YY Group at the intersection of traditional services and emerging technologies.

Acquisition integration reveals management's operational discipline. Each acquired company maintains its core operations and client relationships while migrating to YY Group's technology platforms. The rebranding of Pesticide Pest Control to Pest Fighter Management exemplifies this approach: YY Group maintained thirty years of market credibility while modernizing operations. This balance between preservation and transformation reduces integration risk while accelerating the development of capabilities.

Board composition and governance structures support long-term value creation while maintaining entrepreneurial agility. The founder-led structure enables rapid decision-making and strategic pivots, essential in fast-evolving markets. Public listing on NASDAQ provides access to capital markets and transparency requirements that institutionalize operational discipline. The combination of entrepreneurial leadership and public market accountability creates governance frameworks that balance growth ambitions and risk management.

Looking forward, management's strategic priorities focus on three areas: deepening technology capabilities to maintain competitive advantages, expanding geographic presence in high-potential markets, and increasing service integration to capture greater client value. These priorities guide capital allocation, partnership decisions, and organizational development as YY Group evolves from a regional operator to an international platform.

YY Group's preliminary financial results for the first half of 2025 indicate accelerating growth momentum. Revenue reached $29.4 million, representing 53% year-over-year growth, while gross profit nearly doubled to $4.6 million. Gross margins expanded to 15.5% from 12.3% in the prior year period, suggesting improving unit economics as the platform scales. Management expects full-year 2025 revenue to exceed $60 million, though these projections remain subject to final audit and market conditions.

Source: Company Documents
Note: Forward-looking projections should not be relied upon for investment decisions. B2i Digital makes no representation regarding the accuracy or achievability of these projections.

The company's longer-term projections envision substantial expansion across both business segments. Management forecasts revenue growth from current levels to over $200 million by 2028, based on continued market penetration and geographic expansion. The integrated facility management division projects robust growth, with revenue potentially increasing from S$26.3 million in 2023 to S$96 million by 2028, representing a 29% compound annual growth rate. These projections reflect management's expectations for the business based on current market conditions and expansion plans.

The preliminary results demonstrate several positive trends. Growing gross margins indicate that the platform is generating improving returns as transaction volume increases. Revenue growth acceleration from previous periods suggests market acceptance of the company's value proposition. The expansion across both staffing and facility management validates the dual-platform strategy. Geographic diversification provides multiple growth vectors while reducing dependence on any single market.

YY Group operates at the intersection of two large and growing markets experiencing technological transformation. The company's dual-platform approach addresses a combined $2 trillion market opportunity across on-demand staffing and facility management. With operations in twelve countries and recent launches in high-potential markets such as the Netherlands and Australia, the geographic footprint provides multiple avenues for growth.

Technology integration distinguishes YY Group from traditional service providers. The deployment of artificial intelligence for customer service and recruitment, robotics for physical tasks, and blockchain for payments positions the company to benefit from industry modernization. Strategic partnerships with specialized technology providers accelerate capability development while targeted acquisitions consolidate fragmented service providers under the company's platform umbrella.

Operational metrics demonstrate platform effectiveness. The 95% fulfillment rate for staffing requests indicates a reliable match between supply and demand. The over 500,000 users and over 9 million service hours delivered show scale achievement. Recent client wins, including major hotel brands in Thailand and the UAE, validate market acceptance. The 65% quarterly growth rate in the UAE, along with successful expansions into the Netherlands and Australia, suggests that the model translates across diverse markets.

Source: Company Documents

The management team combines industry experience with strategic vision, having navigated the evolution from a regional staffing provider to an international platform operator. The distributed country management structure ensures local market expertise while maintaining operational standards. The recent technology initiatives in AI, robotics, and digital payments demonstrate a commitment to innovation and platform advancement.

Market dynamics favor platforms that can deliver reliability at scale. The fragmentation in both staffing and facility management creates opportunities for consolidation. Rising labor costs drive demand for efficiency solutions. The increasing adoption of technology enables digital platforms to reach previously inaccessible market segments. YY Group's position at the convergence of these trends, combined with demonstrated operational capabilities and expansion momentum, presents an opportunity to participate in the modernization of large service industries.

The combination of market position, technology capabilities, geographic expansion, and operational momentum suggests potential for continued growth. The company's evolution from a traditional service provider to a technology-enabled platform reflects a broader industry transformation that is still in its early stages across many markets.

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