OCK Group Bhd announced on Wednesday that its deputy chairman Abdul Halim Abdul Hamid and executive director Chang Tan Chin have resigned with immediate effect as part of its internal restructuring efforts.

KUALA LUMPUR (June 19): OCK Group Bhd (KL:OCK) announced on Wednesday that its deputy chairman Abdul Halim Abdul Hamid and executive director Chang Tan Chin have resigned, with immediate effect, as part of the board's internal restructuring efforts.

Abdul Halim and Chang have been serving on OCK's board since their appointments in October 2011. Neither of them holds any shares in the telecommunications tower company, according to OCK’s filing.

OCK’s largest shareholder is managing director Datuk Wira Ooi Chin Koon, who holds a 0.04% direct stake and a 34.93% indirect stake through Aliran Armada Sdn Bhd.

Last month, OCK signed a 15-year tower leasing agreement with Best Telecom Co Ltd, marking its entry into Laos. Best Telecom plans to launch its 5G network there by the end of the year.

In October 2022, OCK and the Laos Ministry of Finance (MOF) signed a shareholder agreement to establish a joint venture, OCK Laos TowerCo Co Ltd. OCK holds a 70% majority stake in the venture, while the ministry holds the remaining 30%.

Following the agreement, OCK Laos TowerCo was expected to apply for a tower licence in Laos.

Shares of OCK closed up half a sen or 0.84% at 60 sen on Wednesday, translating into a market capitalisation of RM636.98 million.