FSMART and SABUY strive to enhance its automated financial Services by setting up a new Joint Venture to capitalize on its 200,000 outlets nationwide. The move aims to modernize Automatic Financial services to create sustainable growth and prepare for changes in the future.
Mr. Pongchai Amatanon, Chairman of Executive Committee of Forth Smart Service Plc. (FSMART), a leader in Financial and Automated Channel under “ Boonterm” Brand says that the partnership between FSMART and SABUY, the 2 leaders in Automated and Financial Service Channel will create a new Synergy by creating a new business together. Both Companies want to combine their stengths to capture new business opportunity and create more services and revenues. With 200,000 outlets nationwides, we can create Economy of Scale that will benefit both companies, their business partners and provide superior service experiences for customers to create sustainable and strong growth.
“There are 2 deals in this partnerships. First, Forth Vending Co., Ltd. (FVD, the manufacturer and provider of Intelligent Vending Machines will sell over 4,000 machines in the strategic locations to SABUY in order to help SABUY become No. 1 in the Vending Market. Second, both Companies will set up a 50:50 Joint Venture company with 20-million baht registered capital to create the Economy of Scale. This will help strengthen their business and solve the problems and overcome the future challengers.”
Mr. Chookiat Rujanapornpaje, Chief Executive Officer of Sabuy Technology Plc.,” SABUY” says that this partnership arises from the initial project in February this year that Boonterm Top-up Machine accepted SABUY Money wallet topping-up. The Strong relationship between both groups will create a SYNERGY and help expand the businesses effectively.
“The First Win for this FORTH & SABUY partnership is SABUY will now have over 10,000 Vending Machines and expand its network from 21 provinces to a full Nationwide Network. Thereofre, SABUY will have strong potential to become No.1 and create Stronger Growth in the Vending Market. On the other hand, SABUY will support FORTH in expanding its Automatic Coffee Machine Network in SABUY Ecosystem including popular drop-off shops such as Shipsmile, PLus Express in over 4,000 outlets nationwide.
In addition, the JV company will generate mutual benefits through their 200,000 + nationwide channels.(Boonterm has over 130,000 machines and Sabuyplus has over 57,000 machines , drop-off shop networks of 4,000 locations 231 Food Courts including Sales Network, Business Partners and Agents. These will help cross sell their products to their customer base and generate additional business for both companies. Customers will enjoy the full services from Top-up, Transfer and many Financial services. Sabuy will support Forth in installing Mini ATM machines, which is one of the main goals while SABUY can extend its services to Boonterm customers as well as launching new services.”
Mr. Narongsak Lertsuptavee Managing Director of Forth Smart Service Plc., (FSMART) says that this JV with SABUY will combine FSMART and SABUY Strengths in both locations, Technology, Human Resources System, Marketing and Afetr-Sales Services Operation. This will create a Leadership in linking the traditonal services such as Top-up Machines, Payment services, Counter services and Traditional Trade with New Business and Services such as the goal of 10,000 Mini ATMs within 2 years, 20,000 Tao Bin Coff machines in 3 years, installing EV Charging stations in existing and new Drop-off locations. Moreover, there will be Lending, Collection, and Call Center to handle customer base of both groups. This will enhance the Ecosystem, which is the heart of our business plan to create Success for both companies.
“This partnership will create a New Business Opportunity by capitalizing in 20 million Boonterm customers by cross-selling services, expanding new locations, offering more convenience by partnering with SABUY. The Company will have higher revenues and provide highest benefits to customers and business partners. Thereofre, FSMART and the JV Company will have competitive advantage and be able to grow in the future as a Leader in Service, Technology and Digital Platform .