Posted by sosfinance > 2020-07-16 20:31 | Report Abuse

1) I have explained, warrants pay substantially (if not all) for rights issue, meaning free 10% of shares
2) OCK will attained 5,000 towers from 4,200 towers, when they can work on the spin off
3) NFCP Phase 2, will announce their award in Q3, and spectrum in FYE 21
4) OCK price does not reflect its value (upside >40%)
5) Last 2 years drop due to "removal from Shariah" and "change of government - effect the spectrum allocation"

Posted by sosfinance > 2020-07-16 20:44 | Report Abuse

1) Myanmar total cost of investment is about RM315m. The EBITDA for Myanmar is RM51m, giving a EBITDA yield of 16% (and will continue to improve as the tenancy ratio improves).

2) Vietnam EBITDA yield is about 18.6%, invested RM210m. As shown before, based on valuation using EBITDA multiple (for towerco), plus other biz, OCK is worth about 90 sen. upside is good.

3) Most companies "badly (>25%)" effected by over, OCK too, but impact is minimal (less than 10%). Earnings is sustainable and growing.

Posted by holyspirit > 2020-07-17 01:44 | Report Abuse

@SOS: Thanks so much. I was thinking that too. OCK is lack of punter attention ...and EPF has been accumulated for a reason ...Now,,,,its only waiting for OCK to move when punter realized how important is towerco business... without it... telecommunication can't function well...hope i am right :)

Posted by sosfinance > 2020-07-17 11:54 | Report Abuse

@holyspirit, at the moment, market is over 65% concentrated in gloves stocks (in value). At the same time, in volume terms, over 65% is concentrated on penny stocks, so not much attention is paid on "valuation".

There is no rule in market movements or sentiments, it can change course as it wants. However, general consensus is stock price should catch up to its value over time, sometime longer than you could wait, 2, 3 or 4 years. As far as I know and understand, towerco is like renting an asset (depends on tenancy ratio) at about 12-18% yield, and it can goes up to 18-25% yield when the tenancy ratio improves.

Now, for OCK, its tenancy ratio ranges from 1.3x to 1.4x, and there is room for it to grow to 1.5x to 2.0x. (substantial of its assets is in tower around RM600m). Of course they also has solar assets of about RM100m.

Renting of tower and its valuation is not known to many local investors yet. Hence, valuation methodology used also different from one to another. But we know market is using EBITDA multiple on M&As. We can estimates.

Our only risk is TIME, how soon will the price catch up to the value. That one, if you are lucky (buy at the right time) your yield will be very good, like the gloves.

Posted by holyspirit > 2020-07-18 05:26 | Report Abuse

@ SOS: yes...Timing ...punter paid too much attention and $$ into glove stock...it will burst too soon. Look at PBB and Top Glove...How can Top Glove shares price is higher than PBB ... PBB valuation is way stronger than Top Glove...and eventually virus will slow down and vaccine will be available...by then..the demand of glove will slow down...is a loss punter didn't see OCK! With or without covid-19, Tech stock is important throughout this generation and future. OCK consider is a base for connection and support of Telco segment. US tech stock prices is up based on their valuation, too bad in malaysia , all are "frying" glove and penny stocks. But i believe , punter soon will realize OCK worth their attention. i don't think they wanted to lose this piece of cake as OCK is way easy to "fry"up ....

Posted by sosfinance > 2020-07-18 10:53 | Report Abuse

In 2015, edotco bought 75% Digicel MTC, Myanmar for USD221m, for 1,250 towers. So for 100%, it is about USD294m. So, OCK has about 1,000 towers, it will be USD235m x 4.3 = RM1.0billion.

Posted by sosfinance > 2020-07-18 21:31 | Report Abuse

I notice my fund manager is also accumulating OCK in June 2020. Of course not all stocks he choose is great, but he bought some Top Glove at around RM4.16 per share, still holding. He also pick some DSonic, Serba and Genting. Overall, he is doing ok. But he still holding 35% cash in the portfolio.

Posted by Patrick13 > 2020-07-19 10:45 | Report Abuse

Bought OCK at 51 sen last Fri.

Posted by Platypus88 > 2020-07-19 11:41 | Report Abuse

@sos you mentioned "1) Myanmar total cost of investment is about RM315m. The EBITDA for Myanmar is RM51m, giving a EBITDA yield of 16% (and will continue to improve as the tenancy ratio improves).

2) Vietnam EBITDA yield is about 18.6%, invested RM210m. As shown before, based on valuation using EBITDA multiple (for towerco), plus other biz, OCK is worth about 90 sen. upside is good."

Why is OCK EBITDA margin so low for towerco? AMT is ~60%, China tower is around there also...Why? What is OCK current tenancy ratio? How much can EBITDA yield improve to?

Posted by holyspirit > 2020-07-20 01:30 | Report Abuse

Let's say, IF ....OCK share price is move up to above 90 sen ( based on valuation) , its right issue will be truly a Bonus for patient and faithful investors.... :)

Posted by abang_misai > 2020-07-20 07:21 | Report Abuse

The RI is bringing down the value of mother share and it kills ock-wa in the process.

Posted by sosfinance > 2020-07-20 09:08 | Report Abuse

1) @Platypus88, please read the latest annual report, EBITDA of towerco revenue ranges from 73% to 78%. I use EBITDA on INVESTMENT yield, 16% to 18% (that's why I mentioned cost of investment, not revenue). Myanmar revenue is about RM70m and is growing, the EBITDA is RM51m, EBITDA margin is 73%.

2) I am trying to explain from an asset yield's perspective (like you buy a property, what is the rental yield like) so we could compared with other assets.

3) @holyspirit, for patience investors, hopefully it can reach it in less than one year.

4) Not sure it will kill the ock-wa, as the ex-rights is only 2-3 sen down (and the rights of 1:10, as I mentioned many time, not very material, barely can raise RM19m, even lesser than the private placement of 60 sen for RM52m less than a year ago). If the theme play for towerco comes (not telco), sooner, than it is possible in may reach 90 sen before year end. Over time, market will be more familiar with towerco as more coverage by research houses.

5) Edotco investment in Myanmar is impressive for its 1,250 towers. Its tenancy growth about 20-20% p.a. for few years after they bought it 2015/6. As for OCK, hopefully it can reach a double digits growth in tenancy ratio as well for its 1,000 towers in Myanmar.

Posted by holyspirit > 2020-07-22 14:41 | Report Abuse

Punters will notice OCK soon as glove stock is too high.....
IT stock already gone up in US market, here in malaysia, punter not aware of OCK. At this price and its company performances and future development..OCK share price still has ample room for going up....

Posted by sosfinance > 2020-07-22 16:28 | Report Abuse

Yes, themes will rotate and include new sectors. OCK today’s core sector is Telco Tower owner, operator and lessor. Local houses is gradually understand this sector better. It can come quickly near the awarding of NFCP time like the IIS. Hopefully by August?

Posted by MissTan > 2020-07-22 18:49 | Report Abuse

The 5G spectrum is expected when it is announced after the postponement of the day??

Posted by holyspirit > 2020-07-23 13:32 | Report Abuse

here is OCK forum ....not Lambo ... oh dear

Posted by holyspirit > 2020-07-23 13:38 | Report Abuse

Anyway...technology stock like OCK might be the next attention for punters ..today volume is good

Posted by sosfinance > 2020-07-23 15:31 | Report Abuse

@MissTan, MCMC is currently having a public inquiry into the award of 5G Spectrum. MCMC did not mention when will be the award.

However, NFCP 2 is going ahead and expected to be awarded in 3Q2020. Ideally, the 5G spectrum and NFCP should run concurrently. Besides towers, 5G backbone (fiberisation) is also critical. Hopefully the announcement of NFCP 2 will be in Aug/Sep, and participant companies will benefit (like the healthcare counters)

Posted by MissTan > 2020-07-23 16:25 | Report Abuse

Tqvm sos... Patient

Posted by holyspirit > 2020-07-23 20:19 | Report Abuse

@ SOS: u were mentioned NFCP 2 will benefit healthcare sectors...seeking your kind assistance to evaluate and explain ....appreciate...

Posted by sosfinance > 2020-07-23 20:31 | Report Abuse

@holyspirit, what i was actually referring to was healthcare benefited from the vaccine announcement/award (few billion projects), similarly, NFCP 2 award announcement of few billion projects will benefit the participants of NFCP, including OCK.

Hopefully, OCK share price will increase (like what is enjoyed by some of the healthcare counters lately)

Posted by holyspirit > 2020-07-24 04:02 | Report Abuse

@ SOS: oh i see....haha...Yes...punters will fried up OCK as its share price now is only 50 cemts...

Posted by sosfinance > 2020-07-24 09:16 | Report Abuse

NFCP (5G) related counters like Opcom is benefiting, today up almost 50% from 40 sen to 55 sen. Opcom got a small project (less than RM50m) from Telekom and it flies. Opcom manufactures fiber for Telekom, and later they need people to lay their fiber, that's where OCK has the expertise. So, hang on for a little longer.

Posted by robertwts > 2020-07-24 11:58 | Report Abuse

Any 5g related ock?

Posted by sosfinance > 2020-07-24 21:35 | Report Abuse

Towerco's total revenue is about RM150m, for Myanmar alone is RM70m. In Myanmar, OCK has more than 20 years lease contract, giving it a total contract of RM1.4b to RM1.7b or more due to improving of tenancy over time. OCK should have emphasise it in their prospects as the 20 years contract is secured.

Posted by robertwts > 2020-07-25 23:57 | Report Abuse

Ock have any project coming ?

Posted by lekiu1407 > 2020-07-26 00:10 | Report Abuse

refer chart...slow moving counter...

Posted by robertwts > 2020-07-26 13:09 | Report Abuse

today minister said 5G likely soon ? Will benefit ock?

Posted by sosfinance > 2020-07-26 21:29 | Report Abuse

“We will announce the decision as soon as possible, because this spectrum band is important to maximise usage nationwide," he said. (Deputy Communications and Multimedia Minister Datuk Zahidi Zainul Abidin said that the decision on whether the 700 MHz spectrum would be allocated to a consortium or individual licensees). Yes, it will set the direction for MNOs/Telcos on their capex on 5G, and OCK will assist in implementation for the telcos. How soon? Only Datuk Zahidi will know.

Posted by holyspirit > 2020-07-27 01:23 | Report Abuse

anyway...honestly speaking...with or without virus...we need wifi network 24/7 and 365 a year...So OCK is the base for all setting up...towerco..
I am shock to see others forum especially glove counter, the way they talk like : Must buy lah, huat lah ....fatt choi lah all sort...like they are in genting casino ...omg...some of them curse 4 letters words...I was so shock , they didn't even has knowledge about valuation or financial analyse...
i hope punter will realize ....after vaccine is out, we still need OCK to service the towerco business so we can have smooth running network...

Posted by holyspirit > 2020-07-27 01:55 | Report Abuse

@SOS : I need your advise on the latest news OCK
http://www.insage.com.my/BursaNews/Attachment/202007/20200724/OCK-AN20200724A1-1.pdf
Thank you for your time.
hope to hear from you soon

Posted by robertwts > 2020-07-27 11:18 | Report Abuse

Right issue make price drop?

Posted by sosfinance > 2020-07-27 12:03 | Report Abuse

1) Rights issue is generally perceived as negative (although not absolute). However, if we look deeper into this Rights Issue of 10:1 with free warrants, it is technically insignificant, i.e. raised RM18m only (after the revision announced last Friday 24 July), only one third of the private placement raised in Oct 2019 for around RM52m @ 60sen.

2) The other reason is generally telcos is also effected during this MCO, whereby everyone perceived OCK is in the same sector. OCK is related as a service and maintenance of telcos, but its contribution to revenue has been reduced to less than 30% in 2019 (taken over by towerco and solar pv - which OCK has invested more than RM600 million since 2016).

3) Besides towers and solar pv, coming quarters and years, OCK will benefit from NFCP and 5G Spectrum, which is worth billions.

Posted by holyspirit > 2020-07-28 01:51 | Report Abuse

@SOS: i went to check the OPCOM share that you mentioned ....its actual EPS is negative...omg...like this also can go up after getting just a small cake from Telekom ... so unfair...

OCK is way better and stronger and its share price should go up more because OCK will benefit project more than billion ....now waiting NFCP and 5G announcement ....waiting is the hardest...
This few days volumn is stable at above 1mil....i think OCK wont wait long to shoot up ....

Posted by robertwts > 2020-07-28 13:44 | Report Abuse

Collect from last month till now

Posted by holyspirit > 2020-07-28 16:09 | Report Abuse

haih...omg...the oversea restaurant ( Oversea Enterprise) like that kind of business , the share price also can go up.....
OCK is a good fundamental stock ...should worth more than RM1.00 loh.......

haih....dont know what the punter are doing .....they like to fried rubbish stock ?!

Posted by sosfinance > 2020-07-28 16:16 | Report Abuse

1) https://www.nst.com.my/business/2020/05/593721/china-eyeing-malaysian-companies-expand-5g-tech

2) both XOX and GPacket partner Chinese Telco for 5G project in Malaysia - both share prices shot up 600% or 6x.

3) when is OCK's turn?

Posted by robertwts > 2020-07-28 20:47 | Report Abuse

ock today 0.495 many ppl sell ☹️ I collected but dunno tomorrow will go 0.48?

Posted by OckBoy > 2020-07-28 23:56 | Report Abuse

hold its warrant until leg shake d

Posted by abang_misai > 2020-07-29 23:13 | Report Abuse

haha. Who forced you to hold wa?

Posted by abang_misai > 2020-07-29 23:14 | Report Abuse

If keep wa from 0.30 until now 0.01, not only the leg shakes, but also shit inside pant.

Posted by holyspirit > 2020-07-30 13:41 | Report Abuse

today ...OCK fried up de ...

Posted by holyspirit > 2020-07-30 13:43 | Report Abuse

its time for it to fried up.....haha...punter should notice...OCK is better prospect than those "company" which make losses also can fly....

Posted by holyspirit > 2020-07-31 16:42 | Report Abuse

@ SOS:
what do you think on Thursday OCK performance?

Posted by robertwts > 2020-07-31 17:56 | Report Abuse

Closing not nice .. if close at 0.52 nice ... but this stock I keep it a month liao.. please fly

Posted by sosfinance > 2020-08-02 12:01 | Report Abuse

Excerpt from the Star
"Ogut joined Maxis in 2018 as the chief operating officer and was made ... as support given to the National Fiberisation and Connectivity Plan (NFCP) and ... “Post-Covid-19, our strategy is to double down on fibre, convergence, ...

Posted by holyspirit > 2020-08-03 16:15 | Report Abuse

i found this article but in chinese ....
https://drive.google.com/file/d/1CMtWJpDn2CEnDZClaefhj_hj6uo288B4/view

Posted by ttt > 2020-08-03 17:44 | Report Abuse

its also an old report.. 2019

Posted by Stonecold > 2020-08-04 15:35 | Report Abuse

China 5G will use OCK for tower

Posted by robertwts > 2020-08-04 20:24 | Report Abuse

China 5g?