Golden Saint Technologies to build data centre in Thailand
, the technology company operating in the infrastructure development space, signed a letter of intent on Monday with Siam Motors Co Ltd to build and operate a tier three data centre facility in Thailand.
The companies are to enter into a joint venture to build, own and operate the data centre facility in Pattaya or elsewhere in the Chonburi Province of Thailand.
Golden Saint Technologies will own 48%, its local partner will own 4%, and the remaining 48% will be owned by SIAM to comply with legal regulations in Thailand.
SIAM 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. It was established in 1952.
Shares in Golden Saint Technologies were trading at 0.59p a each on Monday
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."
The companies are to establish a funding structure for the Project, with GST maintaining an equity interest, together with providing technical and project management services, eventually becoming the operating partner for the data centre.
Golden Saint Technologies came to market in December of 2018, developing solutions to meet the needs of the ICT industry, targeting emerging markets where the demand for ICT infrastructure is increasing rapidly.
Its Singaporean subsidiary EMS Wiring Systems, has been supplying governments and large private organisations with intelligent building solutions for the last 28 years
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