Gold prices steady above $3,400/oz on rate cut bets; PCE data awaited
KUALA LUMPUR - Sagtec Global Limited (NASDAQ: SAGT), a provider of software solutions, has introduced an AI-powered chatbot service tailored for the food and beverage (F&B) industry in Malaysia. The chatbot, integrated with the company's existing point-of-sale and online ordering platforms, is designed to handle customer interactions and streamline operations for restaurants, cafes, and food chains.
The service will enable F&B businesses to utilize virtual assistants for managing orders, reservations, and customer service through digital channels such as WhatsApp, Facebook Messenger, and web chat. Sagtec plans to start onboarding select partners in May 2025, with a broader rollout scheduled for the third quarter of the year. The company also aims to expand the chatbot service to Indonesia, Singapore, and Thailand subsequently.
Features of the AI chatbot include smart ordering for deliveries and pickups, automated table bookings with real-time wait updates, menu guidance coupled with promotional offerings, and immediate customer support with post-meal feedback collection. This initiative is timely, as the Malaysian food service market is expected to grow from around $15 billion in 2025 to $28 billion by 2030, with a CAGR of 13.26%, according to Mordor Intelligence. Similarly, the online food delivery segment is projected to hit $3.2 billion in 2025.
Sagtec's launch aims to capitalize on the increasing consumer preference for digital convenience in the F&B sector. Kevin Ng, the company's CEO, emphasized the importance of meeting evolving customer expectations with digital solutions that improve service while optimizing operational efficiency.
The announcement of the AI chatbot service is based on a press release statement from Sagtec Global Limited, which also operates power-bank charging stations in Malaysia and provides various software development services. The stock currently trades near its 52-week low of $2.10, with InvestingPro offering 8 additional key insights about the company's valuation and growth prospects.
In other recent news, Sagtec Global Limited has announced a major expansion into the Indonesian market through an exclusive Master Dealership Agreement with PT Kiwari Asih Solusi. This partnership is set to generate at least $30 million in revenue over the next five years, as Kiwari commits to purchasing a minimum of 10,000 licenses for Sagtec's Speed+ Cloud-Based Smart Ordering System. The deal aims to capitalize on Indonesia's rapidly growing digital transformation market, expected to reach $60 billion by 2030. The food and beverage sector in Indonesia, a key market for Speed+, is projected to exceed $250 billion by the same year. This strategic move aligns with the broader expansion of the cloud-based Point of Sale market in the Asia Pacific region, anticipated to grow significantly in the coming years. Sagtec's CEO, Kevin Ng, highlighted Indonesia's growth potential, driven by a developing digital economy and increased demand for cloud-based solutions. PT Kiwari Asih Solusi is recognized for its IoT and general trading solutions, supporting industrial efficiency and business growth. This expansion marks a significant step in Sagtec's Southeast Asia strategy, leveraging Indonesia's tech-savvy market for digital ordering solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.