ACE Market-listed OCK Group transfers to Main Market

by **Cals** Fri 21 Nov 2014, 01:53

ACE Market-listed OCK Group transfers to Main Market

KUALA LUMPUR (Nov 20): Shares of OCK Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) have been transferred from the ACE Market to the Main Market of Bursa Malaysia.
The telecommunications network services provider made its debut on the ACE Market in July 2012.
OCK managing director Sam Ooi said the transition marked a defining milestone for the group, and signifies its stability.
“Being listed on the main market further enhances our reputation, as we venture our business regionally,” he said in a statement today.
Currently, OCK owns and maintains telecommunication sites across Malaysia. The group has also ventured regionally into countries such as Myanmar, Cambodia, China, Singapore and Indonesia.
The group recently completed its 85% acquisition of PT Putra Mulia Telecommunications (PMT), which it said has contributed significantly to its telecommunication networks managed services.
The inclusion of PMT’s business has also increased OCK deployed managed services to more than 10,000 telecommunication sites in Malaysia and Indonesia, it added.
“We foresee strong market potentials for managed services in Indonesia, as the country has more than 120,000 telecommunication sites and PMT is covering less than 10% of the market.
"We are also deploying managed services for about 4,000 telecommunication sites in Malaysia this year,” said Ooi.
Besides telecommunication network services, OCK has also ventured into green energy and power solutions specifically focusing its expertise in solar energy.
In 2013, the group had completed the construction of a 10-megawatt (MW) solar farm located in the KL International Airport in Sepang, and also owns a 1MW solar farm in Kelantan which is generating recurring income for he group.
In addition, OCK is currently constructing three solar farms in Peninsular Malaysia, which are expected to be delivered by the end of the year.
“The group is still very much focused in our business direction for the telecommunications segment in Malaysia and regionally, we will continue to explore various emerging markets for business expansion prospects,” said Ooi.
OCK's financial performance has been delivering a steady double-digit growth annually for the past five years, with a reported revenue of RM152 million for the financial year ended Dec 31, 2013 (FY13) from RM45.9 million in FY09.
Its performance over the five-year period shows a profit after tax compound annual growth rate (CAGR) of 80.91%.
Along with the main market transfer of the group is a 2-for-1 bonus issue, whereby for every two existing ordinary of 176.05 million shares there will be 1 bonus share, which will go ex on Nov 24.
OCK was successfully listed on the ACE market in July 2012 with a market capitalisation of RM93.24 million, and as at noon today, its market cap stands at RM503.51 million.