Guardforce AI Co. Limited extends contract with Government Savings Bank in Thailand; contract worth approximately $19.5M over three years

Guardforce AI (NASDAQ:GFAI) Co. Limited said its secured logistic subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited (GFCS), has extended its contract as the automated teller machine (ATM) service provider for Government Savings Bank (GSB) in Thailand.

The contract, which starts on June 1, 2022, is worth about $19.5 million over a three-year period. Under the agreement, GFCS will service approximately 4,000 units across Thailand and provide a full suite of ATM services, including replenishment, maintenance and cleaning services.

“We are delighted to have extended this significant multi-year ATM contract with Government Savings Bank in Thailand. This contract is a further illustration of our competitiveness, reliability, and solid reputation in the industry,” Kee Yun Kwan, Guardforce AI COO, said in a statement.

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