Posted by Jimmy Song > 2015-08-31 15:49 | Report Abuse

OCK’S Q2FYE2015 PRESENTS A 47.7% PROFIT GROWTH REGIONAL EXPANSION HAS CONTRIBUTED RM20.7 MILLION IN REVENUE SHAH ALAM, 26 August 2015 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunication network solutions provider announced its second quarter results for the financial year ending 31 December 2015 (“Q2FYE2015”), with a revenue of RM70.3 million; representing a staggering 61.8% increase as compared to its corresponding quarter last year (“Q2FYE2014”). The Group’s profit before tax (“PBT”) and profit after tax (“PAT”) of RM6.7 million and RM5.0 million, for the financial quarter under review also reported an increase of 45.8% and 47.7%, respectively. In terms of the Group’s financial performance for its first half of FYE2015, OCK delivered revenue of RM126.4 million representing a 58.0% jump in comparison to its corresponding period for FYE2014. In line with its revenue growth, OCK’s 1HFYE2015 reported a PAT of RM9.1 million as compared to 1HFYE2014 of RM6.8 million. The Group’s strategic regional expansion into Indonesia, Cambodia, Myanmar and China has achieved a strong revenue growth for 1HFYE2015 to RM20.7 million as compared to RM1.7 million in reported in1HFYE2014. The Group’s telecommunication network services was the main profit growth contributor for 1HFYE2015 delivering a revenue of RM97.8 million translating to 104.2% increase as compared to 1HFYE2014. “OCK has performed very well for the first half of our financial year. Barring any unforeseen circumstances, the Group is poised to continuously enhance our recurring income stream through our telecommunication network services and green energy and power solution segment.” commented Mr. Sam Ooi, Group Managing Director. In light of the LTE network penetrating into the Malaysia market and with 2,600 MHz spectrum already awarded by the Malaysian Communications and Multimedia Commission (MCMC), major telecommunication companies have begun investing in upgrading the infrastructures and equipment. It is expected that these telecommunication companies will continue aggressively investing and upgrading their mobile networks to further enhance its data coverage, which is foreseen to continue for the next two to three years. Hence, OCK expects to ride on this industry growth moving forward. In parallel to the increase of network coverage in Malaysia, OCK will also be participating in the MCMC strategy under the Malaysia Budget to build more telecommunication towers in rural areas. In addition to OCK’s telecommunications business segment, the Group will also be focusing on the growing renewable energy sector in Malaysia. OCK will continue to participate via the Feed in Tariff (“FiT”) programme, whereby the Sustainable Energy Development Authority Malaysia (“SEDA”) will continue to release annual quotas for solar energy. Continuing the Group’s regional expansion plans, OCK intends to increase its telecommunication business in the Association of Southeast Asian Nation (“ASEAN”) region. In preparation for the expansion, the Group has announced a renounceable rights issue of 290,488,499 Right Shares on the basis of One Rights Shares for every two existing Company shares. The shares are held together with 290,488,499 Warrants on the basis of one Warrant for every one Right Share subscribed.