PETALING JAYA: Telco network solutions provider OCK Group Bhd has entered into a shareholder agreement with the Ministry of Finance in Lao People’s Democratic Republic (Laos) with the intention to expand its presence there.
Under this agreement, OCK will set up a joint venture company under the name OCK Laos TowerCo Co Ltd whereby OCK will hold a majority stake of 70% while the remaining 30% stake will be held by the Ministry of Finance of Laos. OCK Laos TowerCo Co Ltd will subsequently apply for a tower licence in Laos. This venture will allow OCK to tap into the telecommunications industry in Laos and further expand its global footprint.
OCK group managing director Sam Ooi Chin Khoon said that the partnership allows the group to bring forth its quality services to other parts of the Southeast Asian region and further boost its brand recognition as well as reputation at a regional level.
“OCK believes in the need to constantly look at expanding its telecommunication services to better suit the rapidly evolving industry and constant demand for better connectivity. Thus given our timely entrance, we believe that we will be able to tap into the new 5G industry in Laos,” he said in a statement.
