SABUY Approves the Establishment of 2 Subsidiaries to Operate a Broker Insurance Business
SABUY's Boards approved the establishment of SABUY Capital Plus and SABUY Maxi Insurance Broker to operate supply chain financing loan and broker Insurance business.
Sabuy Technology Public Company Limited (SABUY) announced that on 10 May 2021, the company’s Board of Directors approved the establishment of a subsidiary, SABUY Capital Plus Company Limited (SCAP), with the registered capital of 200 million baht, divided into 20,000,000 ordinary shares with a par value of 10 baht per share, in order to operate supply chain financing and personal loan with collateral and/or non-collateral through the ecosystem of the group of companies and partners.
Additionally, the Board of Directors approved the company joining in investing with Howden Maxi Insurance Broker Company Limited and Millennium Group Corporation (Asia) Company Limited in setting up SABUY Maxi Insurance Broker Company Limited (SBMX) by holding 50% of the shares, with an investment of 5.00 million baht.
The objective of establishing a joint venture company is to manage the Broker Insurance business to provide insurance products and services through the Group’s ecosystem. The registered and paid-up capital is 10,000,000 baht, divided into 1,000,000 ordinary shares with a par value of 10 baht per share (fully paid-up).
Howden Maxi Insurance Broker Company Limited (Howden Maxi), an insurance broker under the Howden Broking Group, the largest insurance broker in the world. (Excluding USA), operates a brokerage business (Broker Insurance) complete insurance. Both in Thailand and internationally with special expertise for car insurance Property insurance and third-party liability transportation insurance professional and financial gem and jewelry insurance, life insurance, health, accident, employee benefits and reinsurance services of all types.
Millennium Group Corporation (Asia) Company Limited (MGC-ASIA) operates an automotive retail business from upstream to downstream. Except for automotive production, it comprises 5 business segments: Retail and automotive services. Automotive importer business Finance and Insurance Business Creative solutions business and Management service business.
