TIDMCSFG

RNS Number : 6545N

CSF Group PLC

02 October 2012

 
 For immediate release   02 October 2012

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 regard 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:

 
 CSF Group 
  Adrian Yong, Chief Executive Officer                 +603 8318 1313 
 
   Cenkos Securities (Nominated Adviser & Broker) 
   Ian Soanes or Bobbie Hilliam                        +44 (0)20 7397 8900 
 Buchanan 
  Jeremy Garcia / Gabriella Clinkard                 +44 (0)20 7466 5000

About CSF Group

CSF Group (AIM: CSFG) is a leading provider of data centre facilities and services in South East Asia and the largest provider of data centre services in Malaysia with 35% market share. The Group was established in 1991 and has been involved in the build and fit out of over 200 data centres. Although its primary focus is the design, development and operation of data centres it also develops data centres on behalf of third party customers. Its customer base comprises global blue chip IT, Telco and Industrial companies to whom it offers a range of highly flexible, scalable services.

The Group also operates its own commercial sized purpose-built data centres and currently has approximately 205,000 sq ft of net data centre space which is already fully occupied. The Group recently launched a new data centre in Malaysia known as CX5 which adds 201,000 sq ft of data centre capacity. In line with its regional growth strategy, the Group also expanded its operations to Jakarta, Indonesia on a joint-venture basis with an Indonesian company to operate a state-of-the-art data centre of approximately 120,000 sq ft in Jakarta, Indonesia known as CX Jakarta ("CXJ"). With the inclusion of CXJ and CX4 (a 3,500 sq ft data centre in Hanoi, Vietnam), the Group's total data centre capacity now stands at more than 525,000 sq ft.

The Group was listed on AIM, London Stock Exchange on 22 March 2010.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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