Picture (from left): Mr. Sopon Racharaksa, President, TICON Industrial Connection Pcl.; Mr. Panote Sirivadhanabhakdi, Chairman of Executive Committee, TICON Industrial Connection Pcl.; Mr. Bruno Lopez, Group Chief Executive Officer, STT GDC; Mr. Nelson LIM, Chief Financial Officer, STT GDC
ST Telemedia Global Data Centres (STT GDC), a leading data centre service provider headquartered in Singapore, today announced that they have entered into definitive agreements to form a strategic partnership with TICON, the leading developer and total solutions provider of industrial properties in Thailand.
TICON, majority owned by Frasers Property and TCC Group, has established a wholly-owned subsidiary, TICON Technology, to partner with STT GDC and together, make inroads into Thailand’s data centre market, riding on recent digital economic trends. The new joint venture plans to build their first data centre facility in a strategic location in Bangkok.
Mr. Bruno Lopez, Group Chief Executive Officer of STT GDC, said, “Partnering with TICON who is majority-owned by Frasers Property and TCC Group, provides us with one of the strongest local networks who has intimate understanding of the Thai market, wide access to land banks as well as extensive experience in property development in the commercial and industrial space in the Greater Bangkok area and across Thailand. Coupled with our experience in designing, building and operating data centres, this strategic partnership allows us to further broaden our global data centre network and bolster our position as a leading data centre provider across the region together with our other strong established bases in Asia – India, China and Singapore. We are confident that combining TICON’s local experience and knowhow with STT GDC’s commitment and global expertise will be an extremely valuable proposition to our customers and partners as they grow in Thailand and across the region. We look forward to working with TICON's management team and building this iconic state-of-the-art data centre strategically located in Bangkok city that will support our customers’ growth opportunities in Thailand.”
Mr. Panote Sirivadhanabhakdi, Chairman of the Executive Committee of TICON Industrial Connection Pcl. (TICON), revealed, “Thailand is in its transition to a full-fledged digital economy, as evident in rising adoption of digital technologies and systems for greater competitiveness of companies across industries as well as in robust emergence of e-commerce businesses and fintech industry in Thailand. The trend is also favoured by government policies including Thailand 4.0 economic model, digital economy master plan, and high-speed Internet infrastructure projects. As a result, the market for IT services has grown by leaps and bounds, especially the data centre market that is expected to double in size over the next three years. All these translate into a great opportunity for TICON to expand into such new business, as well as to demonstrate its capability and reaffirm its status as the leading developer and total solutions provider of industrial properties. The Board of Directors of TICON has therefore resolved to set up TICON Technology and approved its 51-49 joint venture with STT GDC, one of the world’s leading data centre providers for a full foray into this market.”
Mr. Sopon Racharaksa, President of TICON, added, “The establishment of TICON Technology Co., Ltd. creates value-add on our existing offerings as the leading developer and total solutions provider of industrial properties. With Thailand’s biggest portfolio of factory and warehouse spaces totalling over 2.7 million square metres nationwide, we understand and can accurately meet customers’ demands across industries through our factory and warehouse services. In our expansion into this new business with our partner, STT GDC, we are confident of making full-fledged inroads into the Thai market for data centres.”
“By expanding into the data centre business, we are entering a new business where our expertise remains highly relevant,” Mr. Sopon continued. “This expansion will broaden TICON’s digital and technology services to meet the demands of TICON’s customers. In addition, it marries TICON’s strengths with STT GDC’s world class expertise in data centre development to create synergies and growth potentials. We have concrete plans to build a new data centre building that will be a large-scale facility, complete with the state-of-the-art technologies and strategically located in Bangkok’s city centre area, due for completion and full-service commencement by 2020.”