VGI MACO (Singapore) joined with Sinar Mas, Major Business of Indonesia, aiming to cover 3 Platforms in Thailand to strengthen their business in ASEAN

VGI Group announced the fight for strengthening the expansion of Business Model, Advertising Media, e-wallet service, and logistics to expand the business in Indonesia through VGI MACO (Singapore) joining with Sinar Mas Group, major business Group of South East Asia.

Sinar Mas Group is the biggest business group in Indonesia whose main business is paper pulp and paper, agriculture and food business, financial services, energy business and infrastructure, telecommunication business including real estate who owns above 40,000 Rai of land. They are now establish a company with registered capital at 5 million USD or approx. 165.40 million Baht at the proportion of shares held by VGI Maco (Singapore) and Sinar Mas Group equivalent to 40% and 50% respectively.

Mr. Kawin Kanchanapas, CEO of VGI Global Media (Public) Company Limited cited that to join as alliances of Sinar Mas Group, Indonesia this time is to expand the advertising business and e-wallet in the real estate area of above 40,000 Rai of Sinar Mas which is developing. This is in line with VGI’s business plan, yet to strengthen the foundation for Company’s group in expanding their business to South East Asia Region as the strategic plan by imitating the business model of VGI Model in Thailand being the full cycle of marketing solution through advertising media platform, e-wallet and CRM to foreign markets according to the strategic plan, the company expects to be able to realize revenue recognition in Indonesia within 2-3 years from now on.

CEO again mentioned that “the market of Advertising industry in Indonesia is 3-4 times much bigger than such business in Thailand. Therefore, it is an opportunity which we can build up the expansion of the business while VGI (Malaysia), small business has previously obtained the concession in managing the area for advertising media in the first MRT line in the heart of Jakarta, Indonesia for 20 years where it will be in service around mid 2019 with 16 trains, 96 bogies along 13 stations. The distance of the train operating is around 16 km. And yet, the company has obtained the concession to manage the area for advertising media around the 70 pillars of the MRT which is now on the way to study which models of the advertising media should be suitable, while expecting to realize revenue recognition from this concession within next year.”