Ticon, a leading Thai developer and total solutions provider of industrial properties, says it is making progress on its three-year growth roadmap with a strategy to leverage its strengths as a total solutions provider and expand into new businesses to boost its client base.
Riding on digital economy trends, the company has established Ticon Technology and gone into partnership with ST Telemedia Global Data Centres, a leading data centre service provider headquartered in Singapore, to make inroads into data centre services. The joint venture plans to build a data centre in Bangkok.
Panote Sirivadhanabhakdi, chair of the executive committee of Ticon Industrial Connection Pcl, said: “Thailand is in its transition to a fully fledged digital economy, as evident in the rising adoption of digital technologies and systems for greater competitiveness of companies across industries as well as in robust emergence of e-commerce and fintech industries in Thailand.
“The trend is also favoured by government policies, including the 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 in leaps and bounds, especially the data centre market that is expected to double in size over the next three years,” Panote added.
“All these translate into a great opportunity for Ticon to expand into a 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 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,” Panote said.
Sopon Racharaksa, president of Ticon, said: “The establishment of Ticon Technology creates value-added 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 fully 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,” 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 potential. We have concrete plans to build a new data centre, complete with the state-of-the-art technologies and strategically located in Bangkok, due for completion by 2020.”
Bruno Lopez, STT central executive, said: “Partnering with Ticon, majority owned by Frasers Property and the TCC group, provides us with one of the strongest local networks, deep and 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,” Lopez added.
“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 data centre that will enable our customers’ growth opportunities in Thailand,” Lopez said.