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8,991 comment(s). Last comment by Karlos at Dec 13, 2019 11:47 AM
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unclejoe
162 posts

Posted by unclejoe > Oct 10, 2019 6:12 AM | Report Abuse

OCK-SEATH in Vietnam is the largest TowerCo segment, which constitute about 2600 towers. If its divested, OCK can use the proceeds to pare down its debt of RM500 M.


unclejoe
162 posts

Posted by unclejoe > Oct 10, 2019 6:32 AM | Report Abuse

After divestment, the total tower is reduced to less than 2000. The separate listing won't happen in the near to mid term.


Huat1
2235 posts

Posted by Huat1 > Oct 10, 2019 8:05 AM | Report Abuse

OCK is in the right business at the right time. Excellent prospect company


roszali
40 posts

Posted by roszali > Oct 10, 2019 11:14 AM | Report Abuse

ia NFCP


sosfinance
1169 posts

Posted by sosfinance > Oct 10, 2019 9:38 PM | Report Abuse

It is hopeful the new investor(s) from the private placement is established, this may boost the shareholders' profile. With new funds, and strict "selection criteria", it is hopeful the concession assets is SUSTAINABLE, the key criteria for new era fund managers that emphasis on ESG and SRI.


bargadcapital
211 posts

Posted by bargadcapital > Oct 11, 2019 9:55 AM |

Post removed. Why?


PresidentRotiCanai
338 posts

Posted by PresidentRotiCanai > Oct 11, 2019 11:05 AM | Report Abuse

Press down the price please, i want collect more!!!


Johnchew
1967 posts

Posted by Johnchew > Oct 11, 2019 1:25 PM | Report Abuse

-A+A
CYBERJAYA (Sept 5): The Malaysian Communications and Multimedia Commission (MCMC) said the RM21.6 billion estimated budget for the National Fiberisation and Connectivity Plan (NFCP) will be half funded by the Universal Service Provision (USP) fund, while the other half will be funded by the capital expenditure (capex) of telecommunications companies (telcos) in Malaysia.

At a media briefing today, MCMC chairman Al-Ishsal Ishak further clarified about the budget of the NFCP — to be launched on Sept 19 — and pointed out that licensees pay 6% of their topline to the USP fund, while telcos have already planned their capex.

"This issue has been politicised and society is so engrossed in finding mistakes. Looking at our plans under the NFCP and based on certain assumptions on the number of towers and kilometres of fibre optics to be developed, we came up with the RM21.6 billion figure after discussions with the telcos," he said.

Al-Ishsal said the RM21.6 billion is a "ballpark figure" and that the commission will refine the figure in its upcoming quarterly reports on the NFCP, starting next year.

He further explained that the USP fund is a trust fund managed by the commission, which will be financing about half of the estimated investment requirement to execute the initiatives under NFCP.

As at 2017, the USP fund has about RM8 billion to RM9 billion, with about RM4 billion to RM5 billion committed for the NFCP.

The updated numbers will be announced in the 2018 report, which Al-Ishsal said will be published soon.

The fund is necessary, he said, in order to ensure coverage for underserved areas.

"The fund will be covering the operating expenditure for the towers, until they become commercially viable. If the fund is not in place, some areas will probably never see improvement in coverage, as telcos will not set up towers there," he said.

Besides setting up new towers, the commission also looks at optimising resources, such as in locations where there are multiple towers serving a relatively small area.

"In Tawau, for example, there is a large amount of towers serving a small population, as each telco has its own tower. This is not only an eyesore but is also wasting foreign exchange, as these towers require steel to be imported for construction, which results in unnecessary costs.

"We are encouraging telcos to share their infrastructure to make sure that things run more efficiently and costs are optimised," Al-Ishsal said.
11/10/2019 1:18 PM


Johnchew
1967 posts

Posted by Johnchew > Oct 11, 2019 1:27 PM | Report Abuse

"The fund will be covering the operating expenditure for the towers, until they become commercially viable. If the fund is not in place, some areas will probably never see improvement in coverage, as telcos will not set up towers there," he said.

Fund use to built TOWERS ...OCK is more expertise n experience ...NOT NETX....


sosfinance
1169 posts

Posted by sosfinance > Oct 11, 2019 8:27 PM | Report Abuse

That's very encouraging for green energy company to invest into this sector. Improve margin. Hopefully OCK will get some green energy projects. PP timing is just right. Assuming equity portion is RM50m (30%), the balance can get loan of up to RM167m (70%) so will have a sizeable green energy project.


Johnchew
1967 posts

Posted by Johnchew > Oct 12, 2019 1:03 PM | Report Abuse

Calvin use faked acc bargadcapital ke..

1) Tun mahathir son mukhriz mahathir any link to Netx?
2) Netx finance report only mention 3 core bussiness..no digital infrar installation segment .
3) GEM app as mentioned download but cannot get register...
4) Vasu time said partner with 2go Trading but google search address location not operating any more...now in june partner with 2go Tech..google search no info on 2go Tech..
5) seems like all fund raising money is burned or gone to left pocket right pocket..
6) 2019 revenue rm 10 mil ..loss rm18.3 mil..
Need fund raising again....haha
7) CFO is resigned on 2015..external auditor resigned on aug'19 ..netx changed financial year end fr june2019 to nov2020..just a financial accounting jimmik as Lonbisc..
8) NETX since 2015 to 2019..total loss rm 50 mil..only 2017 gain rm1.1 mil.. no wander always do fund raising ..right issue ..PP many times..SIS. ..
9) netx 3 core business: 1) electronic payment.2)non electronic payment.3) GEM segment....no digital infrar installation as you said..?? Maybe Metronic which is eased from Netx group on 2015??


calvintaneng
31333 posts

Posted by calvintaneng > Oct 12, 2019 1:15 PM | Report Abuse

Posted by Johnchew > Oct 12, 2019 1:03 PM | Report Abuse

Calvin use faked acc bargadcapital ke..

I see our friend bargadcapital posted my writeup here and caused some unhappiness?

My apology

Let's not quarrel as all will benefit from NFCP as the Pie is SO HUGE

As for Netx's being Infrar Specialist just go to Bursa website and click on Annual Report

Market has misread Netx actual finacial status by not read Netx ANNUAL REPORT VERY VERY VERY CAREFULLY

I SUGGEST EVERYONE SHOULD GO SEE NETX ANNUAL REPORT AND SPEND ONE DAY READING UP ON NETX ANNUAL REPORT

Under Netx subsidary (Ariantec I think) is HIDDEN AWAY A CASH HOARD OF RM72 MILLIONS

Go and do a thorough study

Regards

Calvin


Note:

For Ock there are Tower installation jobs. Since Ock has more than Rm400 Millions debt it will take some time to clear first.

For NETX there is PURE 3 SEN CASH. Buying Netx at 2 sen gives one 3 Sen Cash Plus all the Assets & investments of Netx are free


Johnchew
1967 posts

Posted by Johnchew > Oct 12, 2019 3:09 PM | Report Abuse

Ho ho refer OCK 2nd QR:

Debt is RM500 mil..gearing is 0.62 still healty..OCK 4.5 years.2015 to half 2019..make profit..total RM 112 mil..each year make profit..but Netx 5 year loss RM 50 mil ..4 years loss ..one year only profit rm 1.1 mil...all the fund raising gone to left pocket..right pocket..
Fund raising for partner with 2go trade .change to 2go Tech...loss heavily...GEM app...worst...
11/10/2019 2:32 PM
X
Netx got 3 SEN CASH NTA While OCK got RM0.52 NTA..


Johnchew
1967 posts

Posted by Johnchew > Oct 12, 2019 3:55 PM | Report Abuse

FoolsGold Tai Kor Calvin, which page of the AR is that ?

only saw in pg 88, item 37.1 Loans and Receivables ,

amt owing by subsidaries rm72,776,219 (2018) & rm26,215,528 (2017)

NOT CASH HOARD, subsidiary IOU Company rm72m lah !!

dont know when can get back the IOU, money already gone by high burn rate of startup ?

2017 only owe rm26M , one yr later owe extra 46M,
what is this sub. doing ? burn up so mauch cash ???

'Under Netx subsidary (Ariantec I think) is HIDDEN AWAY A CASH HOARD OF RM72 MILLIONS '
- Calvin


Johnchew
1967 posts

Posted by Johnchew > Oct 12, 2019 9:07 PM | Report Abuse

ew 1) Tun mahathir son mukhriz mahathir any link to Netx?Calvin no reply just fake info..Tun son had resigned from opcom also..
2) Netx finance report only mention 3 core bussiness..no digital infrar installation segment .
3) GEM app as mentioned download but cannot get register...
4) Vasu time said partner with 2go Trading but google search address location not operating any more...now in june partner with 2go Tech..google search no info on 2go Tech..
5) seems like all fund raising money is burned or gone to left pocket right pocket..
6) 2019 revenue rm 10 mil ..loss rm18.3 mil..
Need fund raising again....haha
7) CFO is resigned on 2015..external auditor resigned on aug'19 ..netx changed financial year end fr june2019 to nov2020..just a financial accounting jimmik as Lonbisc..
8) NETX since 2015 to 2019..total loss rm 50 mil..only 2017 gain rm1.1 mil.. no wander always do fund raising ..right issue ..PP many times..SIS. ..
9) netx 3 core business: 1) electronic payment.2)non electronic payment.3) GEM segment....no digital infrar installation as you said..?? Maybe Metronic which is eased from Netx group on 2015??
10) Calvin said hidden cash rm72mil from associate company..is IOU money by associate company ..sure burned to magmt pocket.
11) OCK Debt is RM500 mil..gearing is 0.62 still healty..OCK 4.5 years.2015 to half 2019..make profit..total RM 112 mil..each year make profit..but Netx 5 year loss RM 50 mil ..4 years loss ..one year only profit rm 1.1 mil...all the fund raising gone to left pocket..right pocket..
Fund raising for partner with 2go trade .change to 2go Tech...loss heavily...GEM app...worst...

Netx got 3 SEN CASH NTA While OCK got RM0.52 NTA..

12)w Under 2 of core business..
Refer financial report ;

This segment’s revenue of RM0.35 million in current year to-date, lower as compared to preceding
year to-date of RM4.59 million as the current year to-date’s revenue were the remaining balance of
progress billings from the contract secured in year 2017. The gross loss in the corresponding quarter
in previous year and previous year to-date was mainly due to higher actual cost than initial projected
cost on the contract secured in 2017.

2018 n 2019 no contract order...2019 revenue RM 0.35 MILLION of progress billing from the contract secured in year 2017...???
You mean 2018 n 2019 no DIGITAL INFRAR INTALLATION IN MALAYSIA???OPCOM stop FiBER OPTIC CABLE PRODUCTION in june2017 till june 2019...???Haha..

X
That mean NETX lose to their competitors for 2 years or the management just makan angin....kira kiri pocket kanan pocket money...


sosfinance
1169 posts

Posted by sosfinance > Oct 13, 2019 7:10 AM | Report Abuse

@Johnchew - clarifications on OCK's debt

Clarifications on Debt (4 Oct 2019)

1. Debt is alright as long as it is secured with tenancy income and has long term contract.

2. Total LTL = RM300m, STL = RM190m, and Cash = RM80m @ 30 June 2019

3. LTL of RM300m is mainly ring fenced, with 5-15 years secured contracts with Telenor and major telcos in Vietnam. LTL are mainly pegged against towers in Myanmar and Vietnam (a bit of Malaysia), hence, banks has stringent loan service ratio with secured contracts. Tower assets EBITDA is RM60-70m p.a. and increasing, and why OCK worry?

4. STL of RM190m, less cash on hand of RM80m is NET is about RM110m. About 70-80% of these STL comprises of Bankers Acceptance, Revolving Credits and Project revolving credits, this means, it is secured by bank on invoices billed to customers (mainly Telcos)

5. Besides, OCK has Trade debtors of RM280m and Trade Creditors of RM120m. Net trade debts is about RM160m, to be collected. Even if you assume 90% collectible, OCK has about RM140m.

6. Towerco alone, has about RM120m turnover. Ebitda is about RM60m to RM70m, sufficient to service the banks interest and principals, and growing tenancy also provide higher revenue.

7. Btw, Towerco biz, the debt over SF is low (less than one time) against other towerco that can leverage up to 3 times.

8. High loan is bad, if you cannot pay off, totally agree. But used on good assets (repayable by sustainable long term leases, why not, once OCK hit the economical of scale for the towers + tenancy, profit and cash flow will grow. I.e. profit grows faster than revenue, and cash flow is far better than profits because of huge depreciation. i.e. depreciation is higher than maintenance cost.)

(Hopefully this help to clarify any misconceptions). If you want to worry about high debt, worry about USA twin deficit and China's debt as well.


beachboy
994 posts

Posted by beachboy > Oct 13, 2019 11:37 AM | Report Abuse

Aiyo...dont argue.. Hope tomorrow ock boost after budget released.. Next year ock will more bright


bargadcapital
211 posts

Posted by bargadcapital > Oct 13, 2019 2:16 PM |

Post removed. Why?


monetary
767 posts

Posted by monetary > Oct 13, 2019 10:04 PM | Report Abuse

10% pp to 3rd party. who is the 3rd party? can 8 assume this as a hint tat ock will get some gov projects?


VFTRADER
664 posts

Posted by VFTRADER > Oct 14, 2019 10:42 AM | Report Abuse

Netx
Since 2012, 85% of the qtrs making lose.
If company didn't offer good salary increment and gd bonuses, will the experience staff still with the company?? mb the staff already join OCK.....


VFTRADER
664 posts

Posted by VFTRADER > Oct 14, 2019 10:50 AM | Report Abuse

OCK bought 60% of SEATH at US$50mil w forex RM4.07 range = RM203.5m

If new buyer targetiing Seath, it might fetch US$60mil w forex RM4.15 range = RM249m (RM0.28/share)....

Sounds good...


magic01
41 posts

Posted by magic01 > Oct 14, 2019 2:26 PM | Report Abuse

Stay tune good news.


Asy_Mett
223 posts

Posted by Asy_Mett > Oct 14, 2019 2:28 PM | Report Abuse

ock sleep?


Asy_Mett
223 posts

Posted by Asy_Mett > Oct 14, 2019 5:02 PM | Report Abuse

looks like hibernate already


kahsoon888
542 posts

Posted by kahsoon888 > Oct 14, 2019 10:05 PM | Report Abuse

like Knm, after PP only will fly.


beachboy
994 posts

Posted by beachboy > Oct 15, 2019 3:39 AM | Report Abuse

Knm warrant so expensive.. Ock only 0.115.. 1 day it will become like GP wb


calvintaneng
31333 posts

Posted by calvintaneng > Oct 15, 2019 4:05 AM | Report Abuse

THE TOP CORE WINNERS OF THE DIGITAL ECONOMY IN LATEST MALAYSIA'S BUDGET, Calvin Tan Research 15 Oct

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/230081.jsp


ck2201
223 posts

Posted by ck2201 > Oct 15, 2019 10:03 AM | Report Abuse

^-^ Swim .......swim....


VFTRADER
664 posts

Posted by VFTRADER > Oct 15, 2019 11:49 AM | Report Abuse

OCK bought Seath at US$50mil w 1980 towers.
1 tower = US$25,250.

Now Seath own 2600 towers.
So total can reach US$65mil @4.15 = RM269.75mil ( per share = RM0.31)

Too good to believe??


ck2201
223 posts

Posted by ck2201 > Oct 15, 2019 12:27 PM | Report Abuse

:) Buy 50% vs Sell 50%, today ? swim swim .....


123456
210 posts

Posted by 123456 > Oct 15, 2019 3:14 PM | Report Abuse

Drop more please


123456
210 posts

Posted by 123456 > Oct 15, 2019 3:14 PM | Report Abuse

I wan buy at 0.55


ttt
190 posts

Posted by ttt > Oct 15, 2019 4:49 PM | Report Abuse

yes,, u may get RM0.31 per share, but that money would be used to par down the debt borrowed for the acquisition as well


sosfinance
1169 posts

Posted by sosfinance > Oct 16, 2019 8:08 AM | Report Abuse

Accumulate on the pretext of good results for at least the next 2 quarters. (NFCP & Green Energy Tax incentives - will be a bonus)


magic01
41 posts

Posted by magic01 > Oct 16, 2019 9:19 AM | Report Abuse

Stay tune good news


Hisham Haron
97 posts

Posted by Hisham Haron > Oct 16, 2019 6:23 PM | Report Abuse

How tm is going up but ock is going down


sonyx123
197 posts

Posted by sonyx123 > Oct 16, 2019 6:37 PM | Report Abuse

Private placement..


kahsoon888
542 posts

Posted by kahsoon888 > Oct 16, 2019 9:18 PM | Report Abuse

They don't want the price up too high...


Lee1045
73 posts

Posted by Lee1045 > Oct 17, 2019 8:10 AM | Report Abuse

Kahsoon888@ why?


VFTRADER
664 posts

Posted by VFTRADER > Oct 17, 2019 8:28 AM | Report Abuse

The purchase px of US$50mil from Seath was done in Jan2017.
If include of inflation on business activity at 5% per annum, it will become US$58mil in the end of 2019 (assuming this business is making profit....)

US$58mil on 1980 towers = US$29k/ tower.
Now hv 2,600 tower = US$75.4mil @RM4.15=RM313mil.
Per share val = RM0.38???

The magic of inflation????


sosfinance
1169 posts

Posted by sosfinance > Oct 17, 2019 9:55 AM | Report Abuse

Assets (towers) expansion last 3 years is quick. Depreciation for 2016, 2017, 2018, 2019(E), RM18m, RM34m, RM37m, RM60m (E), from about 400 towers to 4,000 towers.

Despite of flat profit over last 3 years of about RM25m p.a., EBITDA has grown from RM60m to RM100m (FYE16-18), and estimated FYE19 is RM120-130m, and more importantly it is sustainable.

The continue expansion in towers (construction of 500 towers and purchase of 1,000 towers) require the spin off listing. And the expansion on green energy in a meaningful way, also needs new equity.


Lee1045
73 posts

Posted by Lee1045 > Oct 17, 2019 5:13 PM | Report Abuse

Back to 58.5cent...can collect more!


sonyx123
197 posts

Posted by sonyx123 > Oct 17, 2019 6:16 PM | Report Abuse

collect while you can!


Mohd Akmal Hakim
72 posts

Posted by Mohd Akmal Hakim > Oct 18, 2019 8:52 AM | Report Abuse

Wait at support 0.585


qqq3
13580 posts

Posted by qqq3 > Oct 18, 2019 4:27 PM | Report Abuse

ock bot this morning 60.5, now 62...


qqq3
13580 posts

Posted by qqq3 > Oct 18, 2019 7:53 PM | Report Abuse

https://klse.i3investor.com/blogs/LouisYapInvestment/230171.jsp

quite well done.....5 G needs a lot of towers.............


win1661
21 posts

Posted by win1661 > Oct 18, 2019 10:48 PM | Report Abuse

this director Chan in the past always like to sell but suddenly now buy big i see positive signal for share to move up... but Ooi buy and sell what signal is that?


monetary
767 posts

Posted by monetary > Oct 19, 2019 7:53 AM | Report Abuse

Hi. M new here. Does 5G really bring more rental rev to ock? The 5G providers will b the same telco n they r existing tenants of ock towers. Basically there is no new tenant. Perhaps the telco need to install smaller devices in the metropolitan areas. Does ock do that? Pls advice.


sosfinance
1169 posts

Posted by sosfinance > Oct 19, 2019 9:22 AM | Report Abuse

1) Detail of NFCP https://www.malaymail.com/news/malaysia/2019/09/03/national-fiberisation-and-connectivity-plan-is-not-a-mega-project-mcmc-clar/1786935

2) "with opportunities spread across the construction, operation, and maintenance of the digital infrastructure"

3) NFCP RM21.6b - many areas OCK can participate. OCK has done EPCC work on fiberisation work in Cambodia. Maintenance work also provides recurring income. Few years back OCK benefited from local 4G LTE, so 5G, it will benefit also.

4) 5G requires different type of towers and functionality, cater for short distance (less than 100m), briefly seen here https://www.lifewire.com/5g-cell-towers-4584192


monetary
767 posts

Posted by monetary > Oct 19, 2019 11:38 AM | Report Abuse

Thanks, sosfinance. Can I make the following assumptions?
1. Ock will continue to benefit from 4g LTE in rural areas where ock has spent huge capex for the past few yrs n now it reaps the fruits.
2. The true beneficiaries of 5G r those who install the small cell towers n equipments. These equipments either from Huawei or Ericsson.Those who involves in fiber networking will also benefit from 5G.

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