Golden Saint Technologies Ltd (GST) has begun trading on the main board of the London Stock Exchange following what has been a dramatic shift in its field of business.
The group, previously known as Golden Saint Resources, has spun off its diamond mining assets into a separate company following a reverse takeover through its acquisition of EMS Wiring Systems, an established Singapore-based supplier, installer and maintenance provider of communications systems.
EMS Wiring has shown year-on-year growth in revenue over the last two years of more than 30% a year.
Pierre Fourie, managing director of Golden Saint, says that EMS is “a very stable business with good records of making profits”, through which new pursuits such as data centre construction and logistics tech development can be facilitated.
More specifically, he says GST has already secured an agreement with the government of Thailand for the provision of land space to construct a data centre in the country in partnership will several telecommunication companies.
GST will build an international presence based around telecoms partnerships
This project forms part of a wider strategy to grow the company’s presence internationally through joint ventures with key players in the telecoms space.
Fourie’s sentiments surrounding the EMS acquisition have been echoed by GST’s executive chairman Tone Goh, who told Proactive that the firm has been “a strong regional player…in South East Asia and is facing high potential of growth…after which it will have the potential to go global”.
Goh adds that the company is already seeing progress in the Indian market, with the company being appointed as the installer and supplier of a fibre optic internet network and set-top boxes in the state of Chennai, located near the Andhra Pradesh region of Southern India.
Investors putting money where their mouth is
The company has already seen investors stump up cash ahead of its listing, with a placing in April raising £169,660 with around 942mln new shares in addition to around 277mln shares issued to key consultants in lieu of services rendered.
Goh said that now that the company has listed in London it may seek further fundraising, although for what he says would be “a small amount” of around £1mln.