CSF Group plc
(“CSF” or the “Company”)
Expanded CX6 development
CSF Group plc (AIM: CSFG), a leading provider of data centre facilities and services in South East Asia and the largest provider of data centre services in Malaysia, today announces that is has entered into discussions in regards to expanding the development of its CX6 data centre project.
The Company had anticipated development work starting on CX6 during the current financial year. Following discussions with an existing customer, the Company has been asked to redesign the proposed development from 70,000 sq ft. to 120,000 sq. ft, encompassing four blocks of 30,000 sq ft. The effect of this decision is an increase in the total expected development and maintenance revenue expected from CX6 but a delay in the recognition of this revenue to the next financial year and beyond. The Board therefore no longer expects to recognize any development revenue from CX6 in the current financial year as the revised proposal is being reviewed by the customer.
The Board can confirm revenue associated from data centre rental and maintenance is in line with current market expectations.
Adrian Yong, CEO of CSF Group, commented:
“The Board is pleased to announce the expansion of CX6 which highlights the demand for high quality data centres from Malaysian and South East Asian multinational companies. While the delay in development revenue associated with CX6 in the current year is significant, the long term value in increasing the size of the centre is material and, the Board believes, is in the interests of all shareholders.“
For further information:
Adrian Yong, Chief Executive Officer +603 8318 1313
Cenkos Securities (Nominated Adviser & Broker)
Ian Soanes or Bobbie Hilliam +44 (0)20 7397 8900
Jeremy Garcia / Gabriella Clinkard +44 (0)20 7466 5000