TICON, JustCo form strategic partnership

Breaking News July 12, 2018 12:21

By The Nation

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TICON aims to become the leading provider of smart industrial platforms with its three-year “Total Dimension” strategy.



Its new Data Centre and Smart Solutions business units will serve as additional growth engines and its new joint venture with co-working space provider JustCo will “add an exciting business paradigm”, TICON chairman Panote Sirivadhanabhakdi said this week.

JustCo’s most recent activity includes a joint investment of US$177 million with Singapore’s sovereign wealth fund GIC and multinational property company Frasers Property Ltd. 

“Traditional business models are being disrupted worldwide by emerging technologies that change the way people behave, work and operate,” Panote said. 

“In Thailand, the government has been promoting the Industry 4.0 model and encouraging leading companies and organisations to embrace technologies for business development. 

“This exclusive partnership with JustCo represents a unique opportunity for TICON to enhance its business platform through technology-enabled services. With TICON’s deep market knowledge and extensive business network, we are confident that this joint venture will be able to reap shared synergies and help accelerate JustCo’s presence and network expansion in Thailand.”

TICON president Sopon Racharaksa said the company’s new vision was to be “the leading provider of smart industrial platform”.

“We will focus on integrating cutting-edge technologies across our three business groups – Industrial Property, Data Centre and the newly added Smart Solutions. This will be supported by our plan to form strategic partnerships with leading companies who have strong expertise in their fields to create new business synergies and greater strengths.”

Industrial Property involved business automation, new technologies and ICT for new S-curve industries under the Industrial 4.0 business model. The new technologies will add value to products and services supporting the development of smart logistics facilities and smart factories, under sustainability and green initiatives.

After announcing the data centre business partnership with STT GDC, a fast-growing data centre provider headquartered in Singapore, the joint-venture is now leveraging the core competencies and expertise of both partners to develop the first large-scale data centre facility strategically located in the heart of Bangkok. 

The state-of-the-art Data Centre will be designed with the highest industry standards in mind and will ensure that the facility’s design meet the most stringent requirement of large corporates, both Thai and international.

Smart Solutions reflects the new partnership with JustCo, whose expertise in data analytics, workspace technology and community management will complement TICON’s aim to provide more integrated solutions to customers. 

TICON is also exploring other opportunities for its Smart Solutions business. It owns 51 per cent of the joint venture with JustCo.

“Thailand is a key market in Southeast Asia and one of the region’s major business hubs, which makes it an attractive investment destination,” said JustCo founder and CEO Kong Wan Sing. 

“With Frasers Property Ltd as TICON’s major shareholder, our common affiliation and exclusive partnership with TICON will provide JustCo access to one of the strongest business networks in the property development industry that has exceptional insights on the Thailand market.”

TICON’s presence in strategic locations that will also be favourable to JustCo’s operation, he said. 

Combined with JustCo’s expertise in data analytics, workspace technology and community management, the synergy of this partnership will provide new business engines and a strong growth path to both partners. 

Following the successful opening of JustCo’s first centre in Bangkok at AIA Sathorn Tower in May, its second centre at Capital Tower, All Seasons Place, is opening this month. 

“We have strategically located our centres in the Central Business District, both within walking distance of BTS stations,” JustCo CEO said. “We are confident of creating a powerful ecosystem where businesses of all sizes can harness and benefit the network effect at JustCo.”

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