logo-loader
RNS
viewGSTechnologies Ltd

Golden Saint Tech Ld - Thailand Data Centre Letter of Intent Signed

RNS Number : 5235Z
Golden Saint Technologies Limited
20 May 2019
 

For immediate release: 20 May 2019

 

Golden Saint Technologies Limited

("GST" or the "Company")

Data Centre Letter of Intent

 

GST (LSE: GST), the global technology investment company, providing integrated information and communication technology infrastructure solutions, is pleased to announce that the Company has signed a Letter of Intent ("LOI") with Siam Motors Co Ltd ("SIAM") detailing the parties intention to enter into a joint venture to build, own and operate a tier three data centre facility in Pattaya and/or Chonburi Province in Thailand (the "Project").

SIAM, established in 1952, is Thailand's longest established automotive industry group and is now a diversified business covering interests in sectors as diverse as automotive, construction, education, hospitality and industrial.  Further information on SIAM may be found at: https://www.siammotors.com/en/home/

It is the intention of the parties to form a new Thai joint venture company to progress the Project that will be initially owned 48% by SIAM, 4% by GST's local partner and 48% by GST, in order to comply with legal regulations in Thailand.  The parties will then work together to establish an appropriate funding structure for the Project, with GST maintaining an equity interest, together with providing technical and project management services. Upon completion, GST will become the operating partner for the data centre.

Tone Goh, Executive Chairman of GST, commented: "The Company is delighted to have signed this LOI with SIAM.  SIAM are one of Thailand's leading business groups and we look forward to working with them to progress this planned data centre project.

The establishment of data centres in South East Asia and in other locations globally is a core part of GST's strategy, leveraging our existing strengths in IT infrastructure and mechanical and electrical services.  We look forward to providing further updates as this Project progresses."

 

Enquiries

The Company



Pierre Fourie, Managing Director

London

+44 20 7097 8926


Australia

+61 8 6189 8531

Tone Goh, Executive Chairman

Singapore

+65 6444 2988




Financial PR & Investor Relations



IFC Advisory Limited

 

Tim Metcalfe / Graham Herring / Heather Armstrong

 

London

+44 20 3934 6636




 

About GST

Through investing in high-growth technology businesses, GST provide optimal wireless, electronic cabling, security, and other solutions to clients operating in the infrastructure development space.  GST builds on the profitable ICT business of its Singaporean subsidiary EMS Wiring Systems, which has been supplying governments and large private organisations with intelligent building solutions for the last 28 years.  GST's strategy is to develop solutions to meet the needs of the ICT industry, acting on the surging opportunities in the technology and innovation sectors - data Centres, intelligent buildings, smart cities and the Internet of Things - particularly targeting emerging markets where the demand for ICT infrastructure is increasing rapidly.

For more information please see:  www.gstechnologies.co.uk 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
LOILIFSEEVIIFIA

Quick facts: GSTechnologies Ltd

Price: 0.255

Market: LSE
Market Cap: £2.54 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Golden Saint Resources Ltd soon to begin gravel extraction and washing in...

Golden Saint Resources (LON:GSR) CEO Keng Seah updates Proactive on two of the company's licences in Sierra Leone. He said the work on building the vehicular road access to Baja Site 2 has been completed. ''That project has been completed and we're happy with what we saw and now that...

on 11/01/2016