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Tanco Taps China Mobile for 50MW Malaysia Data Center Development; Shares Plummet 38%

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Tanco (KLSE:TANCO) unit Tanco Dot Com signed a memorandum of understanding with China Mobile International to explore the development of a 50-megawatt data center in Port Dickson, Malaysia, according to a Tuesday Malaysian bourse filing.

Shares dived 38% in Wednesday's midday trade.

The one-year MoU sets out a framework for both parties to evaluate and potentially develop the project.

Tanco said the collaboration is part of its strategy to expand into new business sectors, particularly data center development.

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