IT is full steam ahead for X-Inc, after having branched out from its food-services business FoodXervices to enter the co-working spaces and shared kitchens arena last year.
This year, the group has already secured three new distributorships and plans to expand with a new building and projects in local produce and alternative proteins.
Co-chief executive Nichol Ng said that the company, which derives a significant portion of revenue from supplying to airlines and hotels, had a tough 2020 in that many of its clients were facing cash-flow issues, so bill collection was slow.
However, the food-services arm was “lucky” to have a diversified pool of around 4,000 F&B clients, and the team reached out to new market segments. For example, the hawker client base it started supplying to in January 2020 grew 50 per cent during the pandemic.
Operating in a new 250,000 sq ft building at Pandan Loop gave X-Inc the space to implement safe-distancing measures. It also pivoted to the shared-kitchens business and housed its foreign workers who were stranded here when the borders closed.
X-Inc’s digital transformation efforts over the last decade paid off during the year. Ms Ng said: “We have young mothers working from across the Causeway remotely, so they could be with their children; for us, we could retain talent.”
In the coming year, X-Inc plans to execute a project to promote and sell local produce to F&B establishments, set up a second building and push ahead in the alternative proteins space as a distributor, where it has been active for the last four years.
“2020 has made us more determined to execute and expedite all our innovative ideas and plans,” Ms Ng said. “Now it’s time for us to thrive and seek new horizons for the future; it is not the time to rest on our laurels”.