YY Group Holding Limited has successfully closed a S$10.5 million banking facility with United Overseas Bank (UOB), in conjunction with Enterprise Singapore’s enterprise development program. The drawdown facility, available to both Hong Ye Group Pte Ltd (its IFM subsidiary) and YY Circle (SG) Pte Ltd (its manpower outsourcing arm), provides flexible funding to support working capital requirements across the group’s core businesses in Singapore.

By refinancing existing commercial borrowings and leveraging UOB’s competitive lending rates under the government-supported scheme, YY Group expects to reduce its annual finance costs by roughly 8%. This improvement in cost of capital is projected to translate into savings of close to S$840 000 per annum, strengthening the company’s financial efficiency and bolstering cash flow for reinvestment into growth initiatives.

The new facility enhances YY Group’s ability to execute strategic growth plans across its integrated facilities management (IFM) and on-demand staffing platforms. Management highlighted that the S$10.5 million line will be drawn as needed, ensuring optimal liquidity management as the company pursues new enterprise contracts and expands its service footprint in Southeast Asia, Europe and Australia.

The collaboration with EnterpriseSG underscores the Singapore government’s confidence in YY Group’s business model and growth trajectory. EnterpriseSG’s co-investment support signals endorsement of YY Group’s technology-driven workforce solutions and integrated facilities services, positioning the company to capitalize on rising demand in hospitality, logistics, retail and healthcare sectors.