Guardforce AI Wins Five Year Bid to Operate Consolidated Cash Center in Hadyai, Thailand

Positioning the Company as the Leader in the Outsourcing Cash Center Business

NEW YORK, NY / ACCESSWIRE / November 30, 2021 / Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI)(NASDAQ:GFAIW), an integrated security solutions provider in Asia, has announced today that Guardforce Cash Solutions Security (Thailand) Company Limited ("GFCS"), the operating subsidiary of Guardforce AI, has been selected to operate a Consolidated Cash Center ("CCC") for Hadyai CCC.

The decision was jointly made by the Thai Bankers' Association, representatives of financial institutions and the Bank of Thailand. Hadyai CCC located in the south is a newly built facility that was completed in 2021 and is the only CCC that the Bank of Thailand maintains in the deep southern region of Thailand. This CCC covers seven provinces in total including Songkhla, Trang, Satun, Phatthalung, Yala, Pattani and Narathiwat. The city of Hadyai is close to the southern border with Malaysia and is the largest city of Songkhla Province, which is the third largest metropolitan area in the country.

Kee Yun Kwan, the Chief Operating Officer at Guardforce AI, commented, "We are delighted that we have been selected to operate this facility. This is a milestone for us and we will continue providing the best service to our clients and customers. Winning this bid is further evidence that we are increasing our creditability with the Thai government while also increasing our market leading position in the cash center outsourcing market."

Earlier this year, GFCS was also selected to operate for a period of five years the CCC in the Khon Kaen province of Thailand. The Khon Kaen CCC is the largest CCC in the north east of the country.

About Guardforce AI Co., Ltd.

Guardforce AI Co. Ltd. (NASDAQ:GFAI)(NASDAQ:GFAIW) is a leading integrated security solutions provider that is trusted to protect and transport the high-value assets of public and private sector organizations. Developing and introducing innovative technologies that enhance safety and protection, Guardforce AI helps clients adopt new technologies and operate safely as the Asia Pacific business landscape evolves.

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Forward-Looking Statements

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Corporate Contact
Yu Hu
Phone: (+852) 2838-3500

Media Relations
Patrick Yu
Phone: (+852) 2586-7877

Investor Relations
Shannon Devine
Phone: +1 203-741-8811

SOURCE: Guardforce AI Co., Limited

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