Singapore, 29 September 2015 – Singapore Catalist-listed SinoCloud Group Limited (“SinoCloud” and together with its subsidiaries, the “Group”), an IT solution provider, is pleased to announce its strategic formation of SinoCloud Asset Management Limited (“SinoCloud Asset Mgt”) to manage its data centre business in the People’s Republic of China (the “PRC”). Following shareholders’ approval to acquire a 63% effective interest in a Tier-4 data centre in Guiyang, PRC (the “GY Transaction”), the establishment of SinoCloud Asset Mgt will enable the Group to dedicate resources and capabilities in providing data centre management solutions to ride on the growing demand in China.
Headquartered in Beijing, Sinocloud Asset Mgt will be spearheaded by accomplished industry veteran, Mr Zhang Dai as its chief executive officer. Mr Zhang Dai holds a master’s degree in software engineering from Beijing University of Posts and Telecommunications, and has over 20 years of experience in the IT and telecommunications industry. Prior to joining SinoCloud Asset Mgt, he served as a senior member of China Communications Services, a Hong Kong-listed entity largely owned by China Telecom. He was responsible for the planning, construction, and operation of China Telecom’s data centres in cities in the PRC, such as Hangzhou, Beijing, Guangzhou, Jiangxi, Shanxi, as well as Inner Mongolia. Mr Zhang is one of the vendors of the GY Transaction. He is the founder of the Tier-4 data centre in Guiyang.
Mr Zhang Dai, Chief Executive Officer of SinoCloud Asset Mgt commented, “Data centres are growing in the PRC, driven by the proliferation of cloud computing and big data analytic services. Exploitation of big data is quickly changing the world and data centre is one of the building blocks in the transformation process. There is a high demand for high-end data centres presently from both commercial and government sectors in the PRC and effective management is imperative to maintain the growth momentum. At this nascent stage, I believe we can rapidly align our strengths and gradually scale our data centre business going forward.”
In addition to this new data centre management arm, the Group has executed a series of restructuring initiatives aimed at creating a deft and capability-centric organisation. To that end, the Group has reorganised its management team, in particularly with the appointment of a new Chief Executive Officer, Mr Andrew Chan, to better manage its overall businesses while formulating key strategies and approaches towards revitalising its key business domains. Mr Andrew Chan has over 25 years of regional experience in both the financial and real estate industry. Apart from setting the Group’s vision, strategy and objective, Mr Andrew Chan is also responsible for the Group’s day-to-day operations and business development.
Mr Andrew Chan, Chairman and Chief Executive Officer of SinoCloud, added, “Data centre will certainly be the Group’s main focus in the next few years. To capture the industry’s growth, we hasten our steps following shareholders’ approval for the acquisition of 63% effective interest in a Tier-4 data centre in Guiyang, the PRC, to create a data centre management unit to cultivate this new business venture. I believe Mr Zhang Dai’s experience and credential in the industry will help the Group to expand its scale and scope in this area. At this gestation period, we are working tirelessly to capitalise on business opportunities within the data centre space and increasing marketing efforts to expand our customer base. In due course, we aim to deliver a sustainable performance to generate value for our shareholders.”