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Golden Saint Technologies Signs LOI To Build Thailand Data Centre

LONDON (Alliance News) - Golden Saint Technologies Ltd said Monday it has signed a letter of ...

Alliance News 20 May, 2019 | 12:53PM
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LONDON (Alliance News) - Golden Saint Technologies Ltd said Monday it has signed a letter of intent with Siam Motors Co Ltd to enter into a joint venture to build and operate a data centre facility in the Pattaya or Chonburi province in Thailand.

Golden Saint Technologies provides infrastructure products for data centres, including structured cabling, air-conditioning, and consoles. Prior to this, Golden Saint Technologies was named Golden Saint Resources Ltd, and it was an early stage gold and diamond exploration firm.

Siam was established as a new and used cars sales firm but is now owns businesses in automotive parts, construction & industrial, hospitality & lifestyles and education.

The new joint venture is expected to be 48% owned by Golden Saint, 48% owned by Siam and the remaining 4% owned by Golden Saint's "local partner".

Once the project is completed, Golden Saint will become an operating partner for the data centre.

"The company is delighted to have signed this letter of intent 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," said Executive Chair Tone Goh. "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."

Shares in Golden Saint Technologies were down 1.7% Monday at 0.58 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Golden Saint Technologies Ltd 0.11 GBX 0.00 -

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