KUALA LUMPUR: ARB Bhd's Nasdaq listed company ARB IOT Group Ltd (ARB IOT) has partnered with Potboy Group, Malaysia's rapidly growing retail operator, to launch Malaysia's first Pick-N-Go machines across selected mass rapid train (MRT) stations, a move that ushers in the future of retail shopping and technological integration in the country.
Through this collaboration, ARB IOT anticipates revenues of approximately RM30 million in FY24 and an estimated RM200 million for the next three years.
In addition, the partnership will generate recurring maintenance revenue for ARB IOT, which could drive long-term sustainable recurring revenue for the company.
ARB IOT CEO Datuk Sri Larry Liew Kok Leong said the Pick-N-Go machines would provide consumers with a seamless and efficient shopping experience, demonstrating the immense potential of automation in everyday life.
"With a simple scan, customers can retrieve products, and upon closing the door, payment is automatically deducted.
"This groundbreaking system enables the machine to track the selected items accurately," he said in a statement.
The initiative will roll out in two phases, with the first phase aiming to establish approximately 100 units across 18 MRT stations.
The target for the subsequent phase is to have 200 machines across 50 locations by the end of this year.
Potboy Group will assume the role of machine ownership and operator, with ARB IOT providing the Pick-N-Go technologies solutions.
Potboy Group will provide manless transactions, embodying the next wave of retail trends.
This revolutionary Pick-N-Go technology guarantees customers efficient, convenient, and safe shopping experiences.
"Leverage on our Nasdaq-listed entity's technology is at the forefront of IoT and AI innovation.
"Our technology's manless transactions and operational ease are game-changers in the retail industry. We are thrilled to see our solutions substantially benefit Potboy Group and its customers," Liew added.
Potboy Group CEO Eddie Chew said the adaptation of Pick-N-Go technology has not merely transformed the manless kiosks at MRT stations into high-speed self-service kiosks, but the AI-backing technology is sophisticated enough to ease operation planning and significantly reduce operating costs.
"Furthermore, the principals of fast-moving consumer goods (FMCG) can leverage this technology to better market their products to their desired consumers.
"We look forward to bringing this convenience to all MRT stations and other high-traffic infrastructures such as airports, bus depots, universities, and hospitals.
"We aim to achieve approximately RM1.0 billion in sales via deploying these technologies," Chew added.
Moving forward, ARB IOT and Potboy Group will collaborate seamlessly to introduce more innovative shopping experiences to Malaysian and capitalise on the increasing global trend towards automated vending and shopping solutions.