OCK gets nod for main board transfer

PETALING JAYA: OCK Group Bhd, Malaysia's leading telecommunications network services provider, has received approval from the respective authorities for the group's proposed transfer from the Ace Market to the Main Market of Bursa Malaysia Securities Bhd.
OCK was listed on the Ace Market of Bursa Securities on the July 17, 2012. Since the group's listing, its share price reached a high of 1.58 sen on July 23, 2014, representing a premium of 338.9% as compared to its issue price of 36 sen per ordinary share.
"To be listed on the Main Market was always one of our key objectives to proliferate our corporate value. Now that we have received the approval to execute this transfer I am very excited to start on our next phase of growth," group managing director Sam Ooi said in a statement last Friday.
OCK has successfully increased its telecommunication asset count since the group's listing and is currently managing a portfolio of maintenance work nationwide for various major telecommunication operators.
The group's venture in the green energy and power solutions has also been growing steadily in which OCK now owns a 1 megawatt solar farm in Kelantan.
Currently, the group is constructing a number of solar farms in the West Coast of the Peninsula.
The increase in the group's business activities is paralleled by its financial performance where they had reported revenue of RM152.04 million for its financial year ending Dec 31, 2013 as compared to RM138.60 million for its corresponding period in 2012.
In line with the group's strategic expansion plans, OCK has expanded its business footprint to various regional markets such as Cambodia, Myanmar and China, where the potential for telecommunications network deployment and upgrades remain strong.
"With OCK's portfolio of resources and technical expertise in the field I believe that we are well positioned to capitalize on the positive growth in the respective emerging markets moving forward." said Ooi.