Golden Saint Tech subsidiary gets $1m data centre contract

(Sharecast News) - Integrated information and communication technology provider Golden Saint Technologies said on Tuesday that its wholly-owned Singapore subsidiary, EMS Wiring Systems, has entered into an agreement for the installation of a data centre in Singapore valued at around $1m.The London-listed firm said that was equivalent to three times the average monthly turnover of the company during the same period for the 2018 financial year."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," said group managing director Pierre Fourie."We have expanded our engineering design and installation teams to ensure that we can execute larger scale projects on time and within budget."The company said the scope of the agreement with an unnamed international data centre company included a data centre security cage system, a server rack system, and mechanical, electrical and plumbing (MEP) works, to be completed in one month.Its board noted that 451 Research had predicted in their fifth annual report that Singapore's colocation and wholesale data centre market would reach $1bn in revenue by 2021."We are pleased to demonstrate organic growth to our shareholders in the pursuit of sustained value creation - GST's goal," added Golden Saint Technologies chairman Tone Goh.