{"id":11707,"date":"2022-09-29T15:18:12","date_gmt":"2022-09-29T12:18:12","guid":{"rendered":"https:\/\/www.robomarkets.com\/blog\/?p=11707"},"modified":"2024-01-31T17:13:08","modified_gmt":"2024-01-31T14:13:08","slug":"ipo-of-starbox-group-rebate-business-from-malaysia","status":"publish","type":"post","link":"https:\/\/www.robomarkets.com.cy\/blog\/stock-market\/ipo-of-starbox-group-rebate-business-from-malaysia\/","title":{"rendered":"IPO of Starbox Group: Rebate Business from Malaysia"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><p>Retail companies often use a variety of different loyalty programmes to attract new customers, for example, rebates, bonuses, and discounts. Rebate services, which imply an offer for a cash return on the purchase of consumer goods or services, have recently become extremely popular.<\/p>\n\n\n\n<p>Today, we&rsquo;ll give you a detailed description of Starbox Group Holdings, a company with a business based on rebates, payment solutions, and digital advertising. On 23 August, the company went public on the NASDAQ under the \"STBX\" ticker symbol.<\/p>\n\n\n\n<div class=\"block-banner dark_blue-light_blue \">\n\n    <div class=\"block-banner__content\">\n\n      <div class=\"block-banner__text-content\">\n        <p class=\"block-banner__title\">Gain access to the world of investments through one application<\/p>\n        <p class=\"block-banner__text\">Discover a new level of trading with <span class=\"nowrap\">R MobileTrader<\/span>. Click on the button and install the award-winning app<\/p>\n      <\/div>\n\n\n    <div class=\"block-banner__images-wrapper\">\n\n      <img decoding=\"async\" class=\"block-banner__image block-banner__image_mobile\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2023\/09\/rmt-mobile.png\" alt=\"partner-programme\">\n\n    <\/div>\n      <div class=\"block-banner__store-buttons\">\n        <a href=\"https:\/\/mobiletrader.onelink.me\/MuKg\/rfbannerandroid\" class=\"block-banner__store-button block-banner__store-button_google\" target=\"_blank\" rel=\"noopener nofollow\"><img decoding=\"async\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/themes\/robo-blog-2021\/images\/footer\/google-play-en.svg\"><\/a>\n\n        <a href=\"https:\/\/mobiletrader.onelink.me\/MuKg\/rfbannerios\/\" class=\"block-banner__store-button block-banner__store-button_apple\" target=\"_blank\" rel=\"noopener nofollow\"><img decoding=\"async\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/themes\/robo-blog-2021\/images\/footer\/app-store-en.svg\"><\/a>\n      <\/div>\n    <\/div>\n    <div class=\"block-banner__images-wrapper\">\n\n      <img decoding=\"async\" class=\"block-banner__image block-banner__image_desktop\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2023\/09\/rmt-desktop.png\" alt=\"partner-programme\">\n    <\/div>\n  <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_we_know_about_Starbox_Group_Holdings\"><\/span>What we know about Starbox Group Holdings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"content-sidebar\"><rg-instrument theme=\"blue\" symbol=\"STBX\"><\/rg-instrument><\/div>\n\n\n\n<p>Starbox Group Holdings Ltd. Is a Malaysian fintech company that is engaged in providing rebate, payment, and digital advertising services. The issuer&rsquo;s target audience includes small and medium-sized businesses that don&rsquo;t have their own in-house marketing services to promote goods and products.<\/p>\n\n\n\n<p>Starbox Group Holdings is run by its CEO, Lee Choon Wooi. His tenure with the company started in January 2020. Earlier, he served as an executive director at Teclutions Sdn. Bhd., which develops software for eCommerce and multi-level marketing.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1026\" height=\"382\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/2-stbx.png\" alt=\"Business of Starbox Group Holdings\" class=\"wp-image-11709\" srcset=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/2-stbx.png 1026w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/2-stbx-360x134.png 360w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/2-stbx-768x286.png 768w\" sizes=\"(max-width: 1026px) 100vw, 1026px\" \/><figcaption class=\"wp-element-caption\"><em>Business of Starbox Group Holdings<\/em><\/figcaption><\/figure>\n\n\n\n<p>Starbox Group Holdings&rsquo; main business areas:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Website\/mobile application of the GETBATS rebate platform<\/li>\n\n\n\n<li>Website\/mobile application of the SEEBATS media service<\/li>\n\n\n\n<li>Digital advertising solutions<\/li>\n\n\n\n<li>Payment gateways<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1068\" height=\"364\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/3-stbx.png\" alt=\"Business of Starbox Group Holdings\" class=\"wp-image-11710\" srcset=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/3-stbx.png 1068w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/3-stbx-360x123.png 360w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/3-stbx-768x262.png 768w\" sizes=\"(max-width: 1068px) 100vw, 1068px\" \/><figcaption class=\"wp-element-caption\"><em>Business of Starbox Group Holdings<\/em><\/figcaption><\/figure>\n\n\n\n<p>From October 2021 through March 2022, the number of merchants and customers registered in the GETBATS platform increased by 10.5% and 19.3%, to 799 and 613,509, respectively, while the total number of transactions they performed on the website and in the mobile application was 188,718.<\/p>\n\n\n\n<p>Starbox Group Holdings&rsquo;s revenue in the semester that ended on 31 March 2022 was distributed as follows: digital advertising &ndash; 99.6%, payment solutions and rebates &ndash; 0.2% each.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/4-stbx.png\"><img loading=\"lazy\" decoding=\"async\" width=\"892\" height=\"397\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/4-stbx.png\" alt=\"Business of Starbox Group Holdings\" class=\"wp-image-11711\" srcset=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/4-stbx.png 892w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/4-stbx-360x160.png 360w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/4-stbx-768x342.png 768w\" sizes=\"(max-width: 892px) 100vw, 892px\" \/><\/a><figcaption class=\"wp-element-caption\"><em>Business of Starbox Group Holdings<\/em><\/figcaption><\/figure>\n\n\n\n<p>As of 30 September 2021, Starbox Group Holdings raised $995,000 in investment. Its major investors were CC Growth Edge Sdn. Bhd., WJG Group Holding Ltd., EVL Corporation Limited, Liu Marketing Sdn. Bhd., and ZYZ Group Holdings Limited.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_prospects_of_Starbox_Group_Holdings_target_market\"><\/span>The prospects of Starbox Group Holdings&rsquo; target market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Market research by GlobalData says that the eCommerce market in Malaysia might reach $13.8 billion by 2025. Consequently, the Compound Annual Growth Rate (CAGR) could be 18.3% from 2021 to 2025. Frost &amp; Sullivan believe that the same market in South-East Asia might reach $234.5 billion by 2025 with a CAGR equal to 19.9%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/5-stbx.png\"><img loading=\"lazy\" decoding=\"async\" width=\"897\" height=\"439\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/5-stbx.png\" alt=\"The target market of Starbox Group Holdings in Malaysia\" class=\"wp-image-11712\" srcset=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/5-stbx.png 897w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/5-stbx-360x176.png 360w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/5-stbx-768x376.png 768w\" sizes=\"(max-width: 897px) 100vw, 897px\" \/><\/a><figcaption class=\"wp-element-caption\"><em>The target market of Starbox Group Holdings in Malaysia<\/em>*<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/6-stbx.png\"><img loading=\"lazy\" decoding=\"async\" width=\"663\" height=\"276\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/6-stbx.png\" alt=\"The target market of Starbox Group Holdings in South-East Asia\" class=\"wp-image-11713\" srcset=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/6-stbx.png 663w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/6-stbx-360x150.png 360w\" sizes=\"(max-width: 663px) 100vw, 663px\" \/><\/a><figcaption class=\"wp-element-caption\"><em>The target market of Starbox Group Holdings in South-East Asia<\/em>*<\/figcaption><\/figure>\n\n\n\n<p>The company is facing fierce competition, as there are over 700 similar companies in South-East Asia.<\/p>\n\n\n\n<div class=\"block-banner violet-light_blue\">\n\n    <div class=\"block-banner__content\">\n\n      <div class=\"block-banner__text-content\">\n        <p class=\"block-banner__title\">Want to trade stocks without commission?<\/p>\n        <p class=\"block-banner__text\">Gain access to over 1000 US stocks for commission-free trading on the <span class=\"nowrap\">R StocksTrader<\/span> platform<\/p>\n      <\/div>\n    <div class=\"block-banner__images-wrapper\">\n      <img decoding=\"async\" class=\"block-banner__image block-banner__image_mobile\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2023\/09\/1free-stocks-mobile.png\" alt=\"partner-programme\">\n    <\/div>\n      <a href=\"https:\/\/www.robomarkets.com.cy\/forex-trading\/platforms\/stock-market\/commission-free-stock-trading\/\" class=\"block-banner__button js-risk-warning\" target=\"_blank\" rel=\"noopener\">Start Now<\/a>\n    <\/div>\n    <div class=\"block-banner__images-wrapper\">\n\n      <img decoding=\"async\" class=\"block-banner__image block-banner__image_desktop\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2023\/09\/1free-stocks-descktop.png\" alt=\"partner-programme\">\n    <\/div>\n  <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Starbox_Group_Holdings_performs_financially\"><\/span>How Starbox Group Holdings performs financially<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The F-1 form containing the 2021 financial performance data provided by Starbox Group Holdings demonstrates impressive growth. The issuer&rsquo;s revenue skyrocketed 1957.82% to $3.17 million in 2021 compared to 2020, while the net gained $805.64, up to $1.45 million. Such explosive growth in both indicators can be explained by an increase in active users of the company&rsquo;s products.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/7-stbx.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1343\" height=\"353\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/7-stbx.png\" alt=\"Financial performance of Starbox Group Holdings\" class=\"wp-image-11714\" srcset=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/7-stbx.png 1343w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/7-stbx-360x95.png 360w, https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2022\/09\/7-stbx-768x202.png 768w\" sizes=\"(max-width: 1343px) 100vw, 1343px\" \/><\/a><figcaption class=\"wp-element-caption\"><em>Financial performance of Starbox Group Holdings<\/em>*<\/figcaption><\/figure>\n\n\n\n<p>Starbox Group Holdings&rsquo; cash position in 2021 was positive &ndash; $1.9 million. As of 30 September 2021, the issuer&rsquo;s total liabilities were $2.8 million, while the cash equivalents on its balance sheet were $2.3 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strengths_and_weaknesses_of_Starbox_Group_Holdings\"><\/span><a><\/a>Strengths and weaknesses of Starbox Group Holdings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The company's strengths are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Prospective target market<\/li>\n\n\n\n<li>Business scalability and opportunities for international expansion<\/li>\n\n\n\n<li>Strong business ecosystem<\/li>\n\n\n\n<li>Proprietary solutions<\/li>\n\n\n\n<li>High revenue and net profit growth rates<\/li>\n\n\n\n<li>Highly marginal products<\/li>\n\n\n\n<li>Qualified management<\/li>\n<\/ul>\n\n\n\n<p>The list of key weaknesses includes strong competition, limited experience in high-growth sectors, dependence on major clients and partners, unstable operating revenue, and the necessity to increase operating expenses in the future.<\/p>\n\n\n\n<div class=\"block-banner\">\n    <div class=\"block-banner__content\">\n      <div class=\"block-banner__text-content\">\n        <p class=\"block-banner__title\">Try trading in the high-tech <span class=\"nowrap\">R StocksTrader<\/span> terminal!<\/p>\n        <p class=\"block-banner__text\">Gain access to real stocks, advanced charts, and a free trading strategy builder<\/p>\n      <\/div>\n    <div class=\"block-banner__images-wrapper\">\n      <img decoding=\"async\" class=\"block-banner__image block-banner__image_mobile\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2023\/09\/rst2-mobile.png\" alt=\"partner-programme\">\n    <\/div>\n    <a href=\"https:\/\/my.robomarkets.com\/en\/register\/rtrader\/\" class=\"block-banner__button js-risk-warning\" target=\"_blank\" rel=\"noopener nofollow\">Open R StocksTrader Account<\/a>\n    <\/div>\n    <div class=\"block-banner__images-wrapper\">\n      <img decoding=\"async\" class=\"block-banner__image block-banner__image_desktop\" src=\"https:\/\/www.robomarkets.com.cy\/blog\/wp-content\/uploads\/2023\/09\/rst2-desktop.png\" alt=\"partner-programme\">\n    <\/div>\n  <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_we_know_about_the_Starbox_Group_Holdings_IPO\"><\/span><a><\/a>What we know about the Starbox Group Holdings IPO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The underwriter of the <a href=\"https:\/\/www.robomarkets.com.cy\/blog\/investing\/how-to-invest-in-ipo-the-beginners-guide\/\" data-internallinksmanager029f6b8e52c=\"109\" title=\"IPO\">IPO<\/a> is Network 1 Financial Securities. The issuer has sold 5 million common shares at the price of $4-5 per share. Gross revenue was $22.5 million, not including conventional options sold by the underwriters. None of the active or potential shareholders showed any interest in acquiring new <a href=\"https:\/\/www.robomarkets.com.cy\/forex-trading\/assets\/stocks\/\" data-internallinksmanager029f6b8e52c=\"22\" title=\"stocks trading\">shares<\/a> at the IPO price.<\/p>\n\n\n\n<p>As of now, the company&rsquo;s capitalisation is $89.1 million. The issuer&rsquo;s Price-to-Sales ratio (<a href=\"https:\/\/www.robomarkets.com.cy\/blog\/education\/multipliers-for-stock-analysis-getting-to-know-p-s\/\" data-internallinksmanager029f6b8e52c=\"121\" title=\"P\/S\">P\/S ratio<\/a>) multiplier is quite high: 14.93. it might be difficult to calculate the upside due to the explosive growth in sales.<\/p>\n\n\n\n<p>Buying Starbox Group Holdings shares might be considered an investment with high risks, which is not suitable for all investors.<\/p>\n\n\n\n<p class=\"wp-block-button aligncenter\">\n<a class=\"button button-green js-risk-warning\" href=\"https:\/\/my.robomarkets.com\/en\/register\/\" rel=\"nofollow\">Open Trading Account<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\">\n\n\n\n<p><em>* &ndash; Past performance is not a reliable indicator of future results or future performance.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\">\n\n\n\n<p><em>The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law 87(I)\/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.<\/em><\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"<p>Starbox Group Holdings went public on 23 August on the NASDAQ. The company is engaged in providing rebate and digital advertising services in Malaysia. Let\u2019s take a closer look at Starbox Group Holdings\u2019 business and financial health.<\/p>\n","protected":false},"author":60,"featured_media":11717,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1988,1986],"tags":[2169,2171,2580],"class_list":["post-11707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-stock-market","tag-2022-ipo","tag-ipo-analysis","tag-starbox-group-holdings-ltd"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IPO of Starbox Group: Rebate Business from Malaysia | RoboMarkets Blog<\/title>\n<meta name=\"description\" content=\"Starbox Group Holdings went public on 23 August on the NASDAQ. 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