YY Group to acquire YY Circle Thailand, eyes $5Bn casual labor market
SINGAPORE, SINGAPORE — YY Group Holding Limited, a global provider of on-demand staffing and integrated facility management (IFM) services, has announced plans to enter the Thai market through the acquisition of YY Circle Thailand.
The deal is expected to close on June 2, 2025, pending customary closing conditions.
Tapping into Thailand’s growing casual labor economy
The acquisition supports YY Group’s Southeast Asia expansion strategy and targets Thailand’s casual labor sector, currently valued at THB170 billion (US$5 billion) annually. The market is poised for rapid growth, with projections indicating over 40% of Thailand’s workforce will be in casual labor by 2027.
“Thailand’s casual labor market is brimming with untapped potential,” said Jirapat Haetanurak, Country Director of YY Circle Thailand.
“Through YY Circle, we will empower businesses to meet their workforce demands while creating better opportunities for casual laborers to thrive in an evolving economy.”
Leadership continuity and local expertise
Haetanurak’s appointment ensures continuity and deep market insight. His leadership is expected to drive strategic growth in a competitive environment. YY Group projects that the Thailand operations will generate an annual profit of THB76.9 million (US$2.32 million) by 2029.
“Our move into Thailand is a testament to YY Group’s bold vision of redefining workforce solutions in Southeast Asia,” said CEO Mike Fu.
“This thriving market offers immense potential, and with Jirapat’s leadership and our innovative technology, we are ready to unlock new opportunities for businesses and workers alike.”
About YY Circle and YY Group
YY Circle, the group’s flagship platform, connects businesses with on-demand talent while offering tools to support workforce reliability and performance. It’s designed to address labor shortages in key industries like hospitality, retail, and logistics.
Headquartered in Singapore, YY Group operates across Asia, Europe, and the Middle East, offering tech-enabled staffing solutions and IFM services to sectors such as hospitality, logistics, retail, and healthcare. The company’s digital platforms and IoT-driven systems allow clients to manage dynamic labor needs efficiently. It recently acquired YY Circle Hong Kong as a majority-owned subsidiary.
