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GOOBAT

GooBat to Save Malaysians RM 13 billion in their Health & Personal Care

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

For decades, the digital healthcare industry has not seen any significant growth. Therefore, we aim to be one of the pioneers in bringing quality healthcare to Malaysians.

GooBat was founded in August 2019 with the clear vision and mission to propel digitized healthcare which is still budding in the industry. We all know that online shopping is now a global lifestyle and the demand for healthcare products and services has become a necessity and for some people, it is still a privilege. Thus, GooBat.Care aims to bridge the gap between Malaysians and healthcare with technology and innovation.

In short, we feel like it is our responsibility and privilege to bring affordable, accessible and attainable healthcare to Malaysians nationwide. And ultimately to the rest of South East Asia.

GooBat are currently working  with over 900 brands who we either deal directly with brand owners or master distributor. We are operating in a 4,200sqft warehouse located in Petaling Jaya. Our 3A’s core values are Affordable, Accessible & Authentic. That is our key aspect to drive this business. GooBat is also the First Online Pharmacy in Malaysia to accept Cryptocurrency payments.

Introducing GooBat Kawan which is a program that revolutionized the health & personal care purchases. By subscribing to us, customers enjoy extra savings, earnings and convenience.

With a proven business concept and gradually growing, we are looking to secure RM 7.5million via ECF mainly for marketing and expansion purposes. We are calling ECF investors who shares in our belief to make healthcare more affordable and accessible to everyone.

PROBLEM

The medical retail industry has not changed much since decades ago despite revolutionary disruptions in other domains. The slowness of improvements in the industry contributes to inefficiencies, which in turn are responsible to cause inflation and unaffordability. Besides, accessibility to obtain convenient, quality and affordable medical services/products is a key issue to address. Many areas are still underserved, not assisted and not complemented by adaptive technologies for better delivery of services and decision making by both the consumers and business operators.

  • Low accessibility of proper healthcare or medication

  • Sub-optimal route pathing in logistics

  • Obsolete supply distribution chains & models

  • Sub-optimal space utilization in logistics

  • Inaccurate prescription

  • Inventory management & expiration

  • Lack of reusable / renewable mechanisms in this industry

SOLUTION

By integrating and crossing-over of a few proven business models, the promoter envisages to materialise the delivery of affordable and accessible pharmaceutical and healthcare products to cost-sensitive consumers.

  • Providing doorstep delivery solution nationwide

  • Scheduled and pre-planned logistics optimization

  • Door-to-door solution with Kawan service P2P reconciliation

  • Utilizing central and satellite warehouse according to data & statistics of userbase

  • Forecasted procurement base on user growth & subscription

  • Bottle recollection via Gamification & Biodegradable personalized packaging

GooBat.Care is in works to establish a mega-database of healthcare and pharmaceutical trends and market behaviours in order to identify and pinpoint vertical and horizontal expansion in the industry supply chain in order to broaded value provided to the market and satisfying GooBat.Care other key stakeholders. Few examples of interested areas are:-

  • Financial Tech Integrations

  • Price War with Omni-channel Marketing

  • Embrace Technology in All Aspects

  • Deep Learning for Management & Operation Optimization

  • Gamification to Promote Healthy Lifestyle via Wearables

  • Technology Assisted Shopping Experience with Powered AI/ML

PRODUCT

GooBat Pharmacy : GooBat’s wholesale fulfilment centre, a brick-and-mortar local pharmacy located in Petaling Jaya occupying a space of 4,200sqft that also serves as our warehouse and office.

GooBat.Care : Online pharmacy store and also the storefront for GooBat Kawan.

GooBat Kawan : A program that revolutionized the health & personal care industry by systemizing people’s purchases. Via subscription, customers enjoy extra savings, earnings and convenience.

TRACTION

The clocked revenue amount of RM3.7m is based on the consolidated amount from the offline and online sales accumulated since the commencement of the retail pharmacy in 18/03/2020 until 31/03/2022. Maxwell Extra (Megah) Sdn Bhd & Goobat Sdn Bhd operates under a holding company previously up until April 2022, Goobat Sdn Bhd acquired 100% shareholding of Maxwell Extra (Megah) Sdn Bhd. 

CUSTOMERS

Two types of customer segment:-

  • Business to Consumer (B2C)

  • Business to Business (B2B)

Target market:-

  • Pharmacy Shoppers (OTC items, prescribed medicine, personal hygiene, some food items and baby & mommy items)

  • Customers who would like to enjoy maximum savings, earnings and convenience through the subscription program

BUSINESS MODEL

GooBat Revenue Models:-

  • Offline sales – GooBat Pharmacy

  • E-Commerce – GooBat.Care, Lazada, Shopee

  • Targeted Ads – Digital Ads on Programmatic Ad Serving

  • Digital Health

  • Wearable Devices

This will be supported through the retail pharmacy, the Web app and mobile native applications. Not only will these channels be utilised to generate revenue but also function as a centre point of data collection which will support delivery timing, forward inventory management, forward trend identification, subscription-based programmes, health risk identification and many more.

GooBat Future plans:-

  • Web 3.0

  • Metaverse

  • Gamification

  • Business Intelligence

MARKET
HEALTHCARE

As reported, the Malaysian OOP health expenditure has grown by an average rate of 6% over the last decade, reaching RM22.5 billion or 35% of total OOP Share of total healthcare expenditure (RM64b) in 2019.

BEAUTY & PERSONAL CARE FMCG

It is reported that the Beauty and Personal Care market which includes Personal Care, Skin Care and Cosmetics reaches RM8.79 billion in 2019.

Source: MOH Malaysia : MNHA Health Expenditure Report 1997-2019

Reference:-

https://www.thesundaily.my/business/is-malaysia-heading-towards-globalised-or-localised-branded-fmcg-BF4070939

https://www.statista.com/forecasts/1219919/malaysia-revenue-beauty-and-personal-care-market-by-segment

COMPETITION

FUNDING

VISION

VISION: Providing Accessible and Affordable Healthcare for Everyone

3 Years Vision:

  • To enable gig economy via GooBat Kawan and provide an alternative income for 1million Malaysians

  • To promote Live to Earn ecosystem with sustainable universal basic income just by living your day-to-day life

  • To expand to near SEA market (Thailand, Vietnam, Indonesia)

THE COMPANY

Date of incorporation : 16/08/2019

Registration number : 201901029265 (1338594-W)

Date of commencement of business : 13/12/2020

History of business from the date of incorporation

- GooBat took a year for building of tech, vendor, licencing to being operating as an online pharmacy. Procuring products directly from its own pharmacy outlet, GooBat Pharmacy, GooBat now partnered with over 900 brands of FMCG, personal hygiene and pharmaceutical products. GooBat is also the first online pharmacy in Malaysia to accept cryptocurrency as form of payment.

FOUNDER

Name : Asher Looi

Nationality : Malaysian

Age : 38

Profession : Entrepreneur

Qualification : Higher-Education

Past experiences : Advertising, Events, Film Production, Real Estate, F&B, Fintech

TEAM

PRESS

Malaysiakini

Berita Harian

China Press

Vulcan Post

Beam Start

 

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