(24 September 2026 ─ Hong Kong) CTF Services Limited ("CTFS" or the “Group”; Hong Kong stock code: 659) is pleased to announce that it has entered into a cooperation agreement with RACKS CENTRAL HOLDINGS PTE. LTD. ("Racks Central") to jointly invest in and develop a new artificial intelligence data centre (AIDC) project in Johor, Malaysia. Upon completion, CTFS will hold a 40% interest in the associate company. The partnership marks the Group's first investment in Southeast Asia's data centre market and represents an important milestone in the expansion of its digital infrastructure portfolio.
The AI-ready data centre will occupy a site area of approximately 218,000 square feet and is designed to support a capacity of more than 70 megawatts (MW). The project has been planned from the outset to accommodate next-generation AI workloads and will feature advanced liquid-cooling systems, high-density server racks and hyperscale power infrastructure. Purpose-built for high-performance AI chips, this infrastructure is designed to help alleviate power and cooling constraints, fully aligning with the computing demands of global technology companies.
Johor has emerged as one of Southeast Asia's leading AI data centre hubs, attracting major global technology companies and fostering a mature digital ecosystem. The region offers advantages including reliable power resources, favourable tax policies and strategic connectivity to regional markets, making it an ideal location for long-term investment.
The first phase of the project is expected to be completed and delivered in the Q1 2027. Long-term lease arrangements have been secured for the majority of the project's IT capacity. Once in operation, the project is expected to generate a stable source of recurring cash flow for the Group.
Founded in 2014 and headquartered in Singapore, Racks Central is a data centre developer and operator focused on next-generation AI-ready infrastructure solutions. The company has operations across Singapore, Malaysia and Indonesia, continues to expand across Southeast Asia and possesses extensive experience in data centre operations and network infrastructure.
Brian Cheng, Executive Director and Group Co-Chief Executive Officer of CTFS, said: “As demand for AI computing continues to surge, Johor has become a strategic hotspot for data centre investment in Southeast Asia. This partnership presents a rare opportunity for us to leverage our partner's expertise in AI-ready infrastructure and establish a presence in this rapidly growing market. At the same time, it enables us to further expand our business network and market reach across Southeast Asia, in line with the Group's long-term strategy of investing in new growth businesses that generate stable cash flows. We will continue to adopt an innovative mindset and agile strategy to capture high-growth opportunities and create sustainable long-term returns for the Group and our shareholders.”
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CTF Services LimitedListed on The Stock Exchange of Hong Kong Limited, CTF Services Limited (Hong Kong Stock Code: 659) is a conglomerate with a diversified portfolio of market-leading businesses, predominantly in Hong Kong and Chinese Mainland. The Group’s businesses include financial services, toll roads, logistics, construction, and facilities management. Through the Group’s sustainable business model, it is committed to creating more value for all stakeholders and the community.
Media Enquiries:CTF Services Limited
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Email: corpcomm@ctfs.com.hk
