MAIN Market-listed construction company Ageson Bhd is targetting to invest in a potential unicorn business that is involved in artificial intelligence (AI) & machines learning kiosks in the country.
The business of the potential unicorn company will be operated by Bluewave Corner Sdn Bhd, a home-grown technology-based start-up which pioneers the AI & machines learning kiosk business.
Bluewave Corner has harnessed the Internet-of-Things (IoT) ecosystem and automation to deploy cost-effective smart vending machines.
Such platform will disrupt 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 unmanned stores, both of which are deemed as potential business solution in the new norm.
“We’re excited with our upcoming investment into a company that has the potential to be the first unicorn company in Malaysia with a value of not less than RM1 bil within three years and in which Kotak Global Sdn Bhd and its founder own 20% of the potential unicorn company,” commented Ageson executive director Datuk Seri Larry Liew Kok Leong.
Currently, Kotak Global is finalising a memorandum of agreement (MOA) with Universiti Islam Antarabangsa (UIA) and other universities in Malaysia to enable the company to launch the SMARTKOTAK AI & Machines Learning Kiosks in their campuses in Malaysia.
This could well be the first generation of unmanned digital kiosks at Malaysia’s public universities.
Fellow Ageson executive director Datuk Seri Chin Kok Foong described the AI & machines learning kiosks solution as a platform to venture into innovative retail.
“Bluewave Corner has designed solutions to disrupt the retail business and tap the rising trend of e-commerce where consumers could easily tap on their smart devices to take advantage of unmanned shops,” Chin pointed out.
“The AI & machines leaning kiosks will enable easy access for these customers to obtain the products they acquire online. Moreover, the IoT ecosystem and automation that was harnessed by our home-grown tech start-up gives me the confidence to put our money into it.”
According to Chin, Ageson is expected to provide an attractive return of investment to its shareholders as it will hold not less than 19% of the unicorn company’s ordinary shares upon the expected initial public offering (IPO) within three years.
The estimated revenue for potential unicorn company that is involved in the AI & machines learning kiosk businesses is expected to be around RM200 mil 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 mil. – May 5, 2021
