NASDAQ:STBX
Southeast Asia, with over 660 million people, is rapidly becoming a megamarket for digital consumer finance. E-wallet usage is growing, with at least 10% of adults in countries like Malaysia, Vietnam, Thailand, Indonesia, and Singapore already adopting these technologies—outpacing advanced economies.
Micro, small, and medium enterprises (MSMEs) in Southeast Asia face critical challenges in adopting digital finance solutions. Many lack the resources to develop in-house data management systems, limiting their ability to leverage digital advertising, cash rebate strategies, and seamless payment solutions. Despite the region's rapid digital growth, traditional banks often fail to meet the needs of these businesses, creating a gap in effective marketing and financial transactions. The demand for accessible, scalable technology that can enhance business performance and engagement remains high, highlighting the necessity of integrated solutions that empower MSMEs to compete in the digital economy and drive growth within their markets.
Starbox Group Holdings Ltd. (Nasdaq:STBX) addresses the needs of micro, small, and medium enterprises (MSMEs) in Southeast Asia by providing a comprehensive ecosystem of cash rebates, digital advertising, and payment solutions. Through platforms like GETBATS, SEEBATS, and PAYBATS, businesses can engage customers with personalized offers, streamlined transactions, and targeted advertising. Our AI-driven tools and data management systems empower MSMEs to optimize their marketing strategies without the need for costly in-house technology. By connecting merchants to millions of potential customers and offering innovative payment solutions, Starbox Group enables businesses to compete effectively in the digital marketplace, driving growth, enhancing customer loyalty, and creating new revenue streams in a rapidly evolving economy.
Southeast Asia's digital payments market is projected to reach $287.2 billion in 2024. Starbox Group seeks to leverage this growth through its integrated ecosystem of cash rebates, digital advertising, and payment solutions. By focusing on expanding digital engagement and financial technology, Starbox aims to provide businesses with tools to enhance customer interaction and broaden their reach in this rapidly evolving market, aligning with the region's increasing investments and digital transformation.
Starbox Group Holdings Ltd. (Nasdaq:STBX) offers a transformative approach to digital finance in Southeast Asia, focusing on providing cash rebates, digital advertising, and payment solutions that empower businesses. The company’s innovative ecosystem is designed to address the growing demand for digital payments in the region, aligning with the rapid expansion of fintech.
Total revenue reached $11.7 million in fiscal year 2023, reflecting a 63.2% increase from $7.2 million in fiscal year 2022, demonstrating strong growth momentum and market impact.
The company continually explores opportunities to expand its offerings, aiming to create impactful, scalable solutions. Its commitment to technology and data-driven strategies enables businesses to engage customers more effectively.
With a focus on long-term success and strategic market penetration, Starbox Group ensures a steady pathway for growth and investor* returns.
"As we reflect on fiscal year 2023, it becomes apparent that Starbox Group has solidified its position as a key player in advertising, cash rebates, and payment solutions, and become a technology solutions provider in Southeast Asia. I am pleased to announce a remarkable 63.2% increase in our total revenue, reaching $11.7 million from $7.2 million in fiscal year 2022. This growth underscores our innovative strategies and diversified approach, particularly evident in technology-driven operations and our recent acquisitions, which have expanded our business. Despite challenges in digital advertising, our strategic acquisitions have significantly bolstered our competitiveness and market presence, contributing an additional $2.2 million in revenue from advertising design and consultation services. The consistent expansion of our member and merchant bases on the GETBATS platform reflects the progress in performance and market coverage. Looking forward, our focus remains on enhancing our comprehensive technology services and solutions and platform capabilities to deliver enduring value to our clients and shareholders."
Headquartered in Malaysia, Starbox Group Holdings Ltd. is a technology-driven, rapidly growing company with innovation as its focus. Starbox is aiming to be a comprehensive technology solutions provider within Southeast Asia and also engages in building a cash rebate, advertising, and payment solution business ecosystem targeting micro, small, and medium enterprises that lack the bandwidth to develop an in-house data management system for effective marketing. The Company connects retail merchants with retail shoppers to facilitate transactions through cash rebates offered by retail merchants on its GETBATS website and mobile app. The Company provides digital advertising services to advertisers through its SEEBATS website and mobile app, GETBATS website and mobile app and social media. The Company also provides payment solution services to merchants.
Members may use the GETBATS website, www.getbats.com, or mobile app as their personal shopping portal and earn cash rebates.
Grow Member base through marketing initiatives and word-of-mouth.
Merchants from over 20 Industries.
SEEBATS Website and Mobile App: A Video Streaming Platform Viewers may sign up for a free membership and watch movies and television series on our website, www.seebats.com, or our SEEBATS TV mobile app through OTT streaming.
Paybats serve as its independent merchant recruitment and onboarding agent and refer merchants to VE Services (Payment Solution Services) to process payments through multiple payment methods.
Enabled us to further expand business of online & offline advertisement
Market Research
Advertisement Idea Conceptualization
Brand Positioning Proposals
Final Proposals And Solutions
Photography
Video Recording
Audio Recording
Script Development
Equipment Rental
Post-production Editing
Sales Campaign Proposals
Coordinating With Shopping Mall Owners For Venue Rental
Assisting Merchant Clients With Rental Equipment
Advising Merchant Clients On Site Layout Arrangements And Decorations
Providing Product Display Strategies
Mr. Lee has extensive experience in multi-level computation systems.
Mr. Lee has served as the Chief Executive Officer at Starbox Holdings Berhad since January 2020.
Mr. Lee served as an Executive Director at Teclutions Sdn. Bhd. from November 2013 to September 2021.
Mr. Lee received his Bachelor’s degree in Business Computing from the University of Southern Queensland in 1995.
Mr. Khoo has over 25 years of experience in corporate advisory, auditing, accounting, taxation, and company secretarial matters.
Mr. Khoo has served as an independent Nonexecutive Director and the Chairman of the audit committee at Scanwolf Corporation Berhad (KLSE: SCNWOLF), a public listed company in Malaysia since November 2021.
Mr. Khoo has served as the Chief Financial Officer at Starbox Holdings Berhad since January 2020.
Mr. Khoo has served as an independent Nonexecutive Director and the Chairman of the audit committee at Sunzen Biotech Berhad (KLSE: SUNZEN), a public listed company in Malaysia since July 2014. He has also been redesignated as the Chairman of the nomination committee at Sunzen Biotech Berhad in Nov 2023
Mr. Khoo is an ACCA Fellowship (FCCA) and a member of MIA in Malaysia (Chartered Accountant) and received his Certificate in Accounting with Business Computing in 1992 and a diploma in Commerce in 1995 from Tunku Abdul Rahman University College.
Dr. Lai has over 29 years of management experience in the healthcare industry.
Dr. Lai has served as a Director in Imperial Dental Specialist Centre since September 2023.
Dr. Lai has served as the Medical Officer in charge of the Emergency Department at Cengild G.I. Medical Center in Malaysia since October 2017.
Dr. Lai has served as a General Practitioner and Partner at Klinik Tanming Jaya since May 1992.
Dr. Lai received his M.D. degree in Medicine from the National University of Malaysia in 1988, and subsequently obtained a Diploma of Family Medicine in 2014 and participated in the Advanced Training in Family Medicine Program in 2016, both from the Academy of Family Physicians of Malaysia.
Ms. Sung has extensive experience in finance and investment and has served as the President at Skyrocket Investments LLC since December 2011.
Ms. Sung also served as a Director at Taipro Corporation Ltd. from September 2007 to July 2016.
Ms. Sung served as a Management Consultant at Howard Hotel from September 2005 to August 2007.
Ms. Sung received her Bachelor’s degree in Hospitality Management from the Collins College of Hospitality Management at California State Polytechnic University, Pomona in 2004.
Ms. Ooi has over 25 years of business and managerial experience in healthcare, nursing, and finance industries.
Ms. Ooi served as the Deputy Director of Nursing for the Penang Community Haemodialysis Society from January 2015 to March 2022.
Ms. Ooi is the founder and has served as the Managing Director of JL Signature Sdn. Bhd., since June 2020.
Ms. Ooi received her Executive Master’s in Business Administration degree from Lincoln University College, Malaysia.
Starbox Group Holdings Ltd. (Nasdaq:STBX). continues to demonstrate significant growth in Southeast Asia’s digital finance sector, achieving a 63.2% increase in total revenue to $11.7 million in fiscal year 2023. This growth is driven by the company’s focus on cash rebates, digital advertising, and payment solutions.
Operationally, the company has expanded its user base to over 2.5 million members on the GETBATS platform, along with increasing the number of merchants to 841, enhancing its market presence. Strategic acquisitions, such as a 51% stake in One Eighty Holdings Ltd., have further solidified its competitive position.
The company’s vision is to provide scalable solutions that address the needs of micro, small, and medium enterprises (MSMEs) by integrating technology into everyday business operations.
Starbox Group is actively leveraging AI and data-driven strategies to optimize content and engage customers in the evolving digital marketplace.
With a focus on sustainable growth, Starbox Group is positioned to capitalize on Southeast Asia’s expanding fintech landscape and deliver value to its investors* and stakeholders.
i - https://www.bcg.com/publications/2020/southeast-asian-consumers-digital-payment-revolutions
ii - https://finance.yahoo.com/news/starbox-group-holdings-ltd-announces-210500077.html
iii - https://ir.starboxholdings.com/doc/STBX%20Corporate%20Presentation%2020.2.2024.pdf
iv - https://techcollectivesea.com/2024/04/03/fintech-landscape-southeast-asia-2024/
https://www.freepik.com/free-photo/hand-pointing-currency-blockchain-technology-background_15559147.htm
https://www.freepik.com/free-photo/standard-quality-control-concept-m_36027711.htm
https://www.freepik.com/free-photo/businessman-analyzing-financial-data-tablet_268162370.htm
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