Bursa Malaysia Main-Market listed construction company, Ageson Berhad (“Ageson” or “Company” or “Group”) is investing in a potential Unicorn business that involves in AI & Machines Learning Kiosks in the country.
Ageson Berhad Executive Director, Dato’ Sri Larry Liew Kok Leong, said, “We’re excited with our upcoming investment into the company that has the potential to be the first Unicorn company in Malaysia that involves in AI & Machines Learning Kiosks business with a value of not less than RM1 billion within three years, where Kotak Global Sdn Bhd and its founder own 20% of the potential Unicorn company.”
The business will be operated by Bluewave Corner Sdn Bhd, a homegrown technology-based startup company that is a pioneer in the AI & Machines Learning Kiosks business.
Bluewave Corner has harnessed the Internet-of-Things (IoT) ecosystem and automation to deploy cost-effective smart vending machines. The company has developed a platform that will disrupt the retail businesses as it bridges the online-to-offline (O2O) model where customers could easily click on the products that they want and collect them using the omnichannel approach and manless shops are the potential business solution in the new norm.
Currently, Kotak Global is finalising the memorandum of agreement (MOA) with Universiti Islam Antarabangsa (UIA) and other universities in Malaysia, which will enable the company to launch SMARTKOTAK AI & Machines Learning Kiosks into the campuses in Malaysia. This will be the first unmanned digital kiosk in the Institusi Pengajian Tinggi Awam (IPTA).
Bluewave Corner solutions will provide consumers with convenient options to purchase products at a great value, automate the sales via intelligent and high performing neural network and offer value-added services within its ecosystem and creating more revenue streams.
Ageson Berhad Executive Director, Dato’ Sri Chin Kok Foong, said, “With AI & Machines Learning Kiosks solution, we are able to venture into an innovative retail businesses to create positive social impact in the society. It helps to solve socio-economic and environmental problems through creating a green industry and driving social good and kindness.”
“Bluewave Corner designed solutions to disrupt the retail business and tap on the rising trend of e-commerce where consumers could easily tap on their smart devices and realised of manless shops. The AI & Machines Leaning Kiosks will enable easy access for these customers to obtain the products they acquire online. Aside from that, the IoT ecosystem and automation that was harnessed by our homegrown tech startup gives me the confidence to put our money into it,” Dato Sri Chin added.
According to him, the Group is expected to provide an attractive return of investment to Ageson’s shareholders as it will hold not less than 19% of the Unicorn company ordinary shares upon the expected initial public offering (IPO) within three years.
The estimated revenue for potential Unicorn company that involves in the AI & Machines Learning Kiosks businesses is expected to be around RM200 million in the next three years.
Aside from the potential investment return in the company, Ageson is also expected to receive an order in supplying AI & Machines Learning Kiosks to support the business, with an order value of about RM225 million.
This content is provided by Aegis Communication Sdn Bhd.
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