YY Group formalizes robotics partnership with KEENON to tackle labor issues

SINGAPORE - YY Group Holding Limited (NASDAQ:YYGH) announced Monday it has executed a formal partnership agreement with KEENON Robotics to deploy service robots in Southeast Asia’s hospitality industry, following their initial memorandum of understanding signed in August. The micro-cap company, with a market capitalization of just $15.78 million, is pursuing technological integration despite facing significant stock price challenges, having lost over 83% of its value year-to-date.

The collaboration aims to address manpower shortages and enhance operational efficiency through AI-powered robots that will support hotel operations including banquet events, cleaning, and other tasks. According to the press release, the robots are designed to augment rather than replace human workers.

"By supporting human staff with robotics, we can enhance productivity and reduce operational friction for our clients, driving better unit economics while maintaining high service quality," said Mike Fu, YY Group’s CEO and Executive Director.

The Singapore-headquartered company, which provides on-demand workforce solutions and integrated facilities management services, has already begun pilot deployments with select regional clients. YY Group plans to market these solutions to both its manpower platform and integrated facilities management clients, with potential expansion beyond Southeast Asia. Despite its operational challenges, the company maintains financial flexibility with a current ratio of 1.69, indicating its liquid assets exceed short-term obligations, while operating with a moderate level of debt.

KEENON Robotics, established in 2010, specializes in indoor intelligent service robots utilizing AI, machine vision, and autonomous navigation technologies. The company has deployed its products in over 60 countries across industries including catering, hospitality, healthcare, and retail.

The partnership represents a key component of YY Group’s strategy to improve service delivery margins and operational efficiency through technology integration, according to the company statement.

In other recent news, YY Group Holding Limited has been actively expanding its operations and partnerships. The company announced a partnership with Chagee to provide staffing solutions for its teahouses in Singapore, following a similar collaboration with KFC. Additionally, YY Group has expanded into three new markets and completed several acquisitions in 2025, utilizing proceeds from a $4 million direct offering. Overseas operations now contribute approximately 45% of the company’s staffing revenue.

In a strategic move to enhance its payment systems, YY Group has partnered with Obita to integrate stablecoin payment infrastructure, aiming to streamline cross-border payments. The company also announced its expansion into Thailand with new luxury hotel contracts, including prominent names like Hyatt and Sheraton. However, YY Group received a deficiency notice from Nasdaq for not maintaining the minimum bid price requirement, as its shares traded below $1.00 for 30 consecutive days. These developments reflect YY Group’s ongoing efforts to strengthen its market presence and operational capabilities.

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