Posted by Jimmy Song > 2014-02-27 09:07 | Report Abuse

OCK GROUP BERHAD DELIVERS REVENUE OF RM150.4 MILLION FOR FY2013 PUCHONG, 26 February 2014 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its fourth quarter results for its financial year ended 31 December 2013 (“Q4FY13”) delivering revenue of RM46.2 million which translates into an increase of 14.8.% compared to its preceding quarter (“Q3FY13”). The Group delivered a profit before tax (“PBT”) of RM7.3 million and profit after tax (“PAT”) of RM4.9 million for the quarter under review representing an increase of 48.6% and 20.6% respectively as compared to Q3FY13. As for OCK’s segmental performance, its telecommunication network services segment recorded revenue of RM25.1 million representing an increase of 28.3% against its preceding quarter. This was mainly due to the increase in execution work required by the telecommunication operators during the quarter under review. The Group’s green energy and power solutions, trading, and M&E Services segments reported revenue of RM14 million, RM1.8 million and RM5.2 million, respectively. OCK’s Full Year Performance OCK’s full year financial results (“FY2013”), reported revenue of RM150.4 million translating into an increase of RM11.8 million compared to its preceding year (“FY2012”). The Group also delivered a PBT of RM19.7 million and PAT of RM14.4 million, representing an increase of 3.3% and 3.2% respectively. The Group’s segmental performance review for FY2013 showed that its green energy and power solution segment delivered revenue of RM42.9 million which translates into a staggering 128.3% jump compared to its preceding year due to the construction of the 10MW Solar Farm Project in KLIA. Additionally, the Group also showed strong and steady contributions from the telecommunication network services, trading, and M&E engineering services segments, each contributing RM85.8 million, RM10.6 million and RM11.1 million respectively. Mr. Sam Ooi, Managing Director of the Group said, “The Group is happy to have delivered a steady growth in 2013. Besides the telecommunication network services segment, we now have the green energy and power solution segment contributing to the Group’s earnings. The Group is optimistic to further expand these two businesses to strengthen the Group’s recurring income.” Overall, 2013 was a fruitful year for OCK. The Group’s telecommunication network services segment met its target for ownership of telecommunication sites. The Group hopes to further increase the amount of towers under its portfolio. The Government 2014 Budget shows that the Government has also taken initiatives to improve the telecommunication sector with their plans to build 1,000 new telecommunications towers in Sabah and Sarawak over the next 3 years with an allocated budget of RM1.5 billion. The Group also achieved an increase in its green energy and power solution segment. OCK was the engineering, procurement and construction (“EPC”) contractor for the 10MW solar farm in KLIA, Sepang. The Group has also fully developed its first 1MW solar farm, which was energised at the end of 2013. Going forward, the Group hopes to secure more opportunities in this sector. In respect to its regional expansion, the Group has been acquiring and incorporating new subsidiaries. Its most recent incorporation was a 51% owned subsidiary company called “Fuzhou 1-net Solutions CO., Ltd.” in the People’s Republic of China. The Group believes in preparing for future opportunities in the telecommunication network services overseas. “Moving forward we are anticipating an exciting year for 2014 as the Group expands and grows.” added Mr. Ooi. For more information please visit www.ock.com.my