Steaky Group Where Wagyu Dreams Come True

About Steaky Group
Steaky Group is a player in the Food and Beverage industry, specializing in providing premium quality beef to discerning consumers. Steaky has a strong presence in both online and offline channels. 

Through our website and Facebook page, we offer direct sales of A5 Wagyu beef cuts to online (B2C) customers. Offline, we cater to restaurants with customized beef cuts. We offer a unique and intimate dining experience known as Private Dining, where customers can enjoy personalized and exquisite meals in a private setting held at their dedicated private dining venue or the customer's preferred location.

Steaky Milestones
Steaky has come a long way since our inception, achieving several significant milestones. 

Our journey started in May 2020 with the launch of Online B2C Trading, selling premium Wagyu beef online during the pandemic-induced MCO. After getting the initial experience of serving our first batch of customers, we further engaged our audience with informative Facebook Live sessions in June 2020. Our Facebook live content was mainly about the sharing of cooking techniques for our exquisite Wagyu beef cuts, giving a guide to the public and also our customers in preparing beef dishes using the Wagyu beef cuts.

By September 2020, we ventured into B2B Trading, serving other restaurants as a prominent premium beef distributor.

In September 2021, we introduced private dining in our office premises, offering an immersive and captivating dining experience. Our customers enjoyed the customized meals and the educational approach used to explain the different meat grades & experience how they differ in taste.

Expanding further, we launched the door-to-door service in October 2021, bringing private dining experiences to the comfort of our customer's homes.

Steaky's Focus in 2023
After carefully reviewing our business and aligning with the strategic plan on the current ongoing operation, we have decided to focus on three strategies in 2023.

• An Expanded Range of Quality Beef 
  Our vision is to offer our esteemed consumers an extensive selection of premium beef cuts, providing them with diverse and delectable options to relish the finest global quality food. With a wide range of choices, our patrons can savor various tiers of exquisite beef, elevating their dining experiences to new heights.

• The Next Level Dining Experience
  As part of our commitment to enhancing customer satisfaction, we have planned to elevate our office's private dining area with a touch of elegance and aesthetics. By infusing an Instagram-worthy theme, we aim to captivate our consumers' visual senses and create unforgettable dining moments, making each visit a memorable and delightful experience.

• Reduce Cost 
  In line with our strategic focus, we are keen to optimize costs and secure more favorable terms from our suppliers. By increasing our stocking volume, we can leverage economies of scale and negotiate better prices, allowing us to pass on the benefits to our valued customers. 
   
• To facilitate higher sales volume, we are introducing the innovative concept of Grill & Go restaurant outlets, designed to address common challenges faced by traditional restaurants, which are high OPEX costs due to the head chef & supporting staff salary. By introducing the self-select & self-service BBQ concepts, we believe we can reduce dependency on the head chef & cooking staff which usually presents high overhead costs. It also reduces the uncertainty of the head chef resigning, which affects the food quality.
   

Problems

There are many BBQ restaurants that offer a BBQ dining experience. However, most of them face the following common problems.

Problem 1: Limited Menus 
BBQ restaurants often have pre-designed sets of ingredients or expensive ala carte options. The pre-designed sets are often a combination of either one's preference or one's disinclination. There isn't any set that can perfectly match everyone's preference.

Problem 2: Long Waiting Time 
When wanting to enjoy a BBQ meal, one always needs to queue up to wait for a seat. After getting a seat, it takes time to wait for the servants to take the order and serve the meat. This process takes a long time, especially during weekends.

Problem 3: Freshness Problem 
Have you realized that your last piece of meat is always not as fresh as it is served? Usually, BBQ restaurants serve the ordered meat on a plate. The portion may be too much for one round of BBQ. Then, you will keep it till your next round and the freshness of the meat will be discounted.

Solutions

At our new Grill & Go restaurant outlets, we are bringing a whole new experience to our consumers. 
After addressing the common problems faced by BBQ restaurants, we tackle the limited menu and long waiting time issues by introducing the conveyor belt concept as our solution.

Offering meats in small portions on a frozen conveyor belt allows customers to choose their favorite cuts directly, preserving freshness and reducing waiting time. Additionally, customers will only pay solely for what they consume, thereby reducing wastage and excessive prices.

Problem 1: Limited Menus
Solution 1: Flexible Choices
BBQ restaurants often have pre-designed sets of ingredients or expensive ala carte options. Grill & Go provides various small portions, ensuring flexibility and affordable choices.

Problem 2: Long Waiting Time
Solution 2: Sit Down and Eat 
At Grill & Go, customers have the privilege of choosing their favorite cuts directly from the frozen conveyor belt, eliminating waiting time.

Problem 3: Freshness Problem 
Solution 3: Always Fresh to Enjoy
The air-conditioned conveyor belt at Grill & Go preserves the freshness of the meats until customers are ready to grill them, ensuring a delightful and satisfying experience.

Unique Selling Proposition (USP)
The key of our USP is the conveyor belt concept. Through the conveyor belt, we can achieve the following USPs.

• 99% Freshness
  Our meats are freshly presented and keep fresh in the frozen conveyor belt.
• 100% Flexible
  Customers have the freedom to choose what they desire according to the desired portion as our dishes are served in various meat cut types and portions.
• 2x Table Turnover
  The waiting time saved can be converted to additional meal time on the next group of customers. This solution doubled up the table turnover rate.
• Save 50% Waiting Time
  All dishes are rotated around the air conditioned conveyor belt, which allows them direct access for grilling.
• 30% more Hygienic
  Our meats are served within the air-conditioned conveyor belt, minimizing external elements for a more hygienic product line.
   

Verified Global Concept
We are introducing the successful conveyor belt concept to Malaysia's halal market, inspired by global successes in BBQ restaurants. These restaurants have verified the conveyor belt BBQ concept in different countries.

Steaky's Traction
Together with the support from our customers, our efforts have bore fruit. 
 

From 12th Jan 2021 to 31st May 2022, within just a year and a half, we have accumulated sales of RM 4 million. During this period, our monthly sales consistently averaged RM 330,000. To top it off, we achieved the highest sales record in April 2022 surpassing RM 700,000. Having said that, as a growing company, we learned & adapted along the way. 

Although we recorded very high revenue in the 1st year of operation but recorded lower earnings due to inventory wastage.  

Target Customers 

Grill & Go is mainly targeting the Halal market in Malaysia. We are currently targeting to serve the biggest population in Malaysia.

Business Model

The first Grill & Go outlet is designed to fit 100 seats to serve our valued customers. The 100 seats are planned as shown in the floor plan below. 

Also, we have designed the menu to have varieties of ingredients for BBQ to provide our customers with wider range of selection. 

After our first outlet opening, the Grill & Go segment will expand in other major cities in West Malaysia before entering East Malaysia. 

Market Trends

After the Covid pandemic, the food service sector is recovering, and we are seeing positive industry growth trends. At the same time, there is an increase in small-sized or light-asset F&B businesses in the market. Additionally, we have noticed that people now prioritize hygiene standards regarding food and beverages, which is a positive development. As Steaky, we are dedicated to providing our valued consumers with fresh and top-quality A5 Wagyu beef, meeting their preferences for premium food products and their heightened awareness of quality and safety.

The beef market can be categorized into distinct segments, with Grill & Go positioned within the BBQ market. Our focus extends to serving the Klang Valley market, which aligns with our current operational scope.

Competition

We are bringing a new concept to the BBQ restaurant industry. Our competitors include the currently operated BBQ restaurants and all dine-in restaurants in Malaysia. Several other BBQ restaurants, including Seoul Garden, Rocku, and Sushi Ten, also provide BBQ meals in the form of buffet and omakase dining. 

However, Grill & Go sets itself apart from these competitors through its emphasis on a unique dining experience. We prioritize offering patrons increased flexibility in ingredient selection while enhancing the freshness of our offerings. This is achieved through the innovative application of a conveyor belt concept, giving our customers an unparalleled dining experience.

Funding 

We are looking to raise RM 2,500,000 in exchange for 18.38% ordinary shares. 

The raised fund will be strategically utilized to execute our 2023 focus, including setting up Grill & Go restaurant, stocking up on inventory, renovating our office's private dining, paying operating salaries, investing in marketing, and covering administrative costs.

Vision
Our Vision is to revolutionize the way people experience Wagyu beef by combining cutting-edge technology, exceptional beef, and a vibrant atmosphere, becoming the ultimate destination for Wagyu enthusiasts.

Mission
At Steaky Group, our mission is to provide an immersive and interactive dining experience centered around Wagyu BBQ. We strive to serve the finest quality Wagyu beef, engage customers with our innovative technology, and create a welcoming environment that celebrates the art of grilling and indulgence.
 

Meet Our Founders

Steaky was founded by Ng Jun Wei and Leow Joon How, who are friends who both studied in Taiwan. Although their majors were not in the Food & Beverage industry, they possess considerable experience in this field. Ng Jun Wei previously worked at an Italian fine dining restaurant in Taiwan, while Leow Joon How has gained expertise in the Fast Moving Consumer Goods (“FMCG”) industry over a period of 5 years. 

Together, they established Steaky in 2021, choosing to enter the beef trading business with the initial objective of providing premium quality food to consumers during the MCO period. Despite the challenges posed by the pandemic, they took the risk of launching their online beef trading through Facebook. This marked the start of Steaky's journey. 
 

Our Team

Our dedicated team is led by Ng Jun Wei, our Chief Executive Officer, who brings four years of experience in F&B and three years in the FMCG industry. With a background in Chemical Engineering and previous work at Wilmar International Ltd, he gained valuable insights into maintaining quality through standard operating procedures (SOPs). As a former chef helper in an Italian fine dining restaurant, he learned the art of running a restaurant and menu development.

Leow Joon How, our Chief Operation Officer, holds a degree in Logistics and boasts eight years of experience in the F&B industry, having worked with various establishments, including a Malaysian modern restaurant, a traditional kopitiam, and a Taiwan Bubble Tea shop. Additionally, he spent five years in the FMCG industry, manufacturing homemade sauces. He brings valuable expertise in Marketing and Design, along with extensive F&B industry experience, making him a key driver in our success.

Ng Kim Heng, our Chief Financial Officer. With a notable background as a Chartered Accountant under the Malaysian Institute of Accountants (MIA), Ng Kim Heng brings a wealth of expertise to our team. Additionally, his affiliations as an Associate of the Certified Institute of Taxation Malaysia (CITM) and an Associate of the Association of International Accountants (AIA) further underscore his comprehensive understanding of financial matters. Notably, Ng Kim Heng holds licenses as a Tax Agent and GST Tax Agent, alongside his role as a proficient Company Secretary. His diverse skill set and qualifications make him an invaluable asset to our organization.

Investment Terms

Investors can choose to invest through different packages, each offering unique benefits and returns. 

Invest with Us
Join us on this exciting journey as we revolutionize the premium beef dining experience and introduce the innovative Grill & Go concept to Malaysia's F&B landscape. Your investment can help us achieve our goals and shape the future of our industry.

**Invest Now and Let's Grill & Go !**

1. pitchIN and its officers and staff may also be investing in this campaign
2. Under ECF Guidelines, valuation is determined and set by the Issuer. Investors are advised to carefully peruse all investment offers and documents before making investment decisions.