, 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
Follow News & Updates from GST here:
The information, investment views and recommendations in this article are provided for general information purposes only and do not constitute financial, investment or legal advice. Although based on information believed to be accurate and complete, the information is not guaranteed to be accurate or current and readers should seek advice specific to their circumstances from their adviser before making any investment decision or taking any action. Nothing in this article should be construed as a solicitation to buy or sell any financial product, or to engage in or refrain from doing so or engaging in any other transaction. Full disclosure of potential conflict of interest is made in accordance with ethical standards. The author may or may not hold investments in all or any of the companies under discussion.
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
SP Angel research note on commodities and miners, featuring: ARC Minerals* (ARCM LN) – Significant mineralisation in drill cores at Cheyeza copper, cobalt project Atalaya Mining (ATYM LN) – Q1 2019 – AGM statement highlights strong operational performance Bluejay Mining* (JAY LN) – Pre-Feasibility Study details show value for Dundas titanium mineral sands project in Greenland Edenville Energy* (EDL LN) – Northern Area mining commences Energold Drilling Corp. (EGD CN) – Energold discloses debt defaults and forbearance negotiations Solgold* (SOLG LN) – Ecuador Constitutional Court Update
Martin Higginson, Immotion Group CEO said: "I am thrilled to be bringing our VR experiences into such an iconic location as The O2. We are confident this initial trial through to early 2020 will prove successful"
One of Bonmarche’s largest shareholders said it was ‘disgusted’ after the troubled retailer dropped its opposition to a £5.7m takeover bid from retail tycoon Philip Day, Pallet company adds to Woodford’s woes, Mr Woodford was in line for a £135m windfall after a private equity firm confirmed it would buy the owner of used car website webuyanycar.com
Five financial stories, trending today in a 60 second podcast, including: British car production fell by 15.5% in May, the 12th month in a row of declines due to a slump in demand for diesel vehicles, new regulations and uncertainty over Brexit in recent months.
On the podcast today: Galileo Resources discuss their initial inferred mineral resource estimate of their Star Zinc project. John Meyer talks about: Cora Gold, Power Metal Resources & Metal Tiger.
SP Angel research note on commodities and miners, featuring: AfriTin Mining* (ATM LN) – Uis tin project drill results Cora Gold* (CORA LN) – Metallurgical tests show 97% recoveries at Sanankoro Chaarat Gold* (CGH LN) – Annual results highlight Tulkubash growth/development progress and Kapan acquisition Katoro Gold (KAT LN) – Fully funded drill program planned for key targets at Haneti nickel sulphide project in Tanzania Kodal Minerals* (KOD LN) – Drilling update from Bougouni lithium project Power Metals Resources* (POW LN) – Major drill targets confirmed at Haneti Nickel Project Savannah Resources* (SAV LN) – Exercise option to acquire Aldeia mining lease