Golden Saint Technologies Limited (LON:GST), an integrated information and communication technology infrastructure solutions provider, has today announced that its wholly owned Singapore subsidiary, EMS Wiring Systems Pte Ltd, has entered into an agreement for the installation of a data centre in Singapore valued at circa US$1 million. This is equivalent to three times the average monthly turnover of the Company during the same period for the 2018 financial year.
Pierre Fourie, Group Managing Director of GST, commented:
“As stated during our IPO road show, the directors believed that becoming a listed company could change perceptions of GST in the eyes of larger potential customers and so potentially increase company turnover. We have expanded our engineering design and installation teams to ensure that we can execute larger scale projects on time and within budget.”
The scope of the agreement with an international data centre company1, includes a data centre security cage system, a server rack system, and Mechanical, Electrical and Plumbing (MEP) works, to be completed in one month. 451 Research predicts, in their fifth annual report, that Singapore’s colocation and wholesale data centre market will reach US$1 billion in revenue by 2021.2
Tone Goh, Chairman of GST, comments:
“We are pleased to demonstrate organic growth to our shareholders in the pursuit of sustained value creation – GST’s goal.”
Golden Saint Technologies Limited 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 – and particularly targeting emerging markets where the demand for ICT infrastructure is rapidly increasing.