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Press Releases

CSF to use proceeds from London listing for expansion


6th April 2010, Kamarul Yunus, Business Times


CSF GROUP plc, a leading provider of data centre facilities and services in Southeast Asia, plans to use proceeds of STG28 million (RM138 million) raised from its listing on London's Alternative Investment Market (AIM) for future expansion in Malaysia, Thailand and Vietnam.

Headquartered in Cyberjaya, the group which currently holds a 35 per cent share of outsourced data centre space in Malaysia, made its debut on the AIM last week, placing out 50.9 million new ordinary shares at a price of 55 pence per share.

"The funds will be used for our expansion and new developments in Malaysia, Thailand and Vietnam," a spokesman told Business Times.

A significant portion of the proceeds will be used to finance the development of CSF's new data centre called CX5, which is to be built on a 201,000 sq ft of land in Cyberjaya, and a smaller portion will be spent on expansion into Thailand and Vietnam, while the remaining proceeds to be used for general international customers.

At present, CSF has three data centres - CX1, CX2 and CX3, all located in Cyberjaya. The group expects to achieve a 80 per cent occupancy for all its data centres by the end this year.

The group's expansion in emerging markets of Thailand and Vietnam would be through joint ventures. It has acquired minority interests in entities in Vietnam and Thailand to help facilitate its planned expansion into these two countries.

CSF group chief executive officer Adrian Yong said the listing on AIM brings new opportunities as the company looks to expand its geographic footprint, while providing better technology and services to its customers.

"The data centre market in Southeast Asia is going through a phase of growth due to the increase of data-intensive businesses and as one of the longest established and more respected service providers in the region, CSF will use the impetus of its admission to the AIM to take the maximum advantage of this unique situation," he said in a statement.

Date centres are buildings that house networking and computing equipment such as servers, routers and fibre optic transmission gear, allowing businesses that own this equipment to connect and interact with each other and the Internet.