Golden Saint Technologies Limited GST's subsidiary awarded US$1M data centre project (9971J)

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RNS Number : 9971J

Golden Saint Technologies Limited

11 December 2018

The headline for the Golden Saint Technologies Ltd announcement released on 10 December 2018 at 7:00AM under RNS No 9326J should read "GST's subsidiary awarded US$1M data centre project". The announcement text is unchanged and is reproduced in full below.

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014

For immediate release: 10 December 2018

Golden Saint Technologies Limited

("GST" or the "Company")

GST's subsidiary awarded US$1 million data centre project

GST, an integrated information and communication technology infrastructure solutions provider, is pleased to announce that its wholly owned Singapore subsidiary, EMS Wiring Systems Pte Ltd ("EMS"), 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 company(1) , 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."

About GST

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 - and particularly targeting emerging markets where the demand for ICT infrastructure is rapidly increasing.

For more information: www.goldensaint.com/media/

Notes

1. Due to confidentiality provisions contained in the agreement, GST is unable to disclose the name of the client.

   2.     Fifth annual report "Multi-tenant Datacenter Market: Singapore". 451 Research 

ENDS

Enquiries

 
The Company 
Pierre Fourie, Managing                           [phone] 
 Director                         London                 8926 
 Australia                                    [phone] 
Tone Goh, Executive Chairman      Singapore     [phone] 
 
Investor Relations 
                                                 [phone] 
Cassiopeia - Stefania Barbaglio   London                  338 
 

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END

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December 11, 2018 02:00 ET (07:00 GMT)