Cuscapi inks agreement to set up online management suite for F&B sector

TheEdge Wed, Jun 24, 2020 02:29pm - 3 years View Original


KUALA LUMPUR (June 24): Cuscapi Bhd has entered into an agreement to set up a new online management suite for food and beverage (F&B) companies.

In a statement, Cuscapi said it had entered into a strategic agreement with lifestyle app Presto and delivery platform Hungry to develop a fully integrated and digitalised cloud-powered F&B management suite, Custory, which is designed to help F&B operators manage items such as order-to-delivery cycle.

This new platform is composed of food ordering, cashless payments and delivery — each of which is a speciality of Cuscapi, Presto and Hungry respectively.

As such, the new platform will allow for real-time access to restaurant data, allowing for restaurants to create a digital menu for both dine-in and online orders.

Cuscapi chief executive officer (CEO) Anthony Gerald expressed pride over the group's development of the platform.

"This solution was built upon the vast experience we had gained from our 42 years of operations in the F&B industry. We have developed our solution to be hardware agonistic, meaning that it can run on any hardware, making it a truly affordable solution to tier-two and tier-three F&B operators, who can run it even on a smartphone. Our solution is ahead of its time and we believe it will bring about very positive impacts on food operators during this challenging time," he said.

Meanwhile, Presto CEO Cheong Chia Chou said that its solutions will enable business success for its customers, while expressing appreciation for both Hungry and Cuscapi.

"Finding the right partners is pertinent in delivering a forward-looking solution to the end users and with Cuscapi and Hungry in the partnership, we believe we are on the right track," added Cheong.

Hungry CEO Gary Soo added that Hungry operates on an area hub model which helps shorten service response among customers, riders and merchants.

"This gives our food delivery platform an edge over our competitors as we are able to deliver more speedily. We believe by integrating our service into this new solution, the F&B sales will get the boost in need at the moment. Once again, we are excited to be part of this digital revolution for F&B operators," said Soo.

Malaysia Digital Economy Corp (MDEC) lauded the collaboration among Cuscapi, Presto and Hungry.

"This partnership is timely and well aligned with the government's short-term economic recovery plan, where the call for businesses to accelerate their digitalisation efforts was accentuated. As the nation navigates through the recovery phase of Covid-19, the need for novel tech solutions is a vital requisite. We urge more tech companies to emulate the success of this collaboration to place Malaysia back on a bullish growth trajectory," said Gopi Ganesalingam, vice president of MDEC's Global Growth Acceleration Division.

This solution will be rolled out in phases starting July, with more than 1,000 F&B operators targeted for onboarding by the end of 2020.

Cuscapi shares were down 3.33% or half a sen at 14.5 sen, valuing it at some RM124.59 million. It saw 9.29 million shares done.

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