Posted by Jimmy Song > 2015-02-27 09:17 | Report Abuse

OCK REGIONAL EXPANSION INCREASES EARNINGS PUCHONG, 26 FEBRUARY 2015 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider reported its fourth quarter results for the financial year ended 31 December 2014 (“Q4FYE2014”) with a revenue of RM59.5 million, translating to a 28.9% increase in comparison to its corresponding quarter for the financial year ended 31 December 2013 (“Q4FYE2013”). The Group delivered a profit before tax (“PBT”) and profit after tax (“PAT”) of RM10.3 million and RM7.4 million, representing an earnings increase of 39.9% and 53.0% respectively as compared to Q4FYE2013. Looking at the Group’s twelve months performance for the financial year ended 31 December 2014 (“FYE2014”); OCK continues to deliver an escalating topline performance with revenue of RM187.5 million, representing a 23.3% increase compared to FYE2013. Concurrent to its revenue, OCK also reports a PBT and PAT of RM23.8 million and RM17.9 million respective. Over a five-year period, the Group has generated a compound annual growth rate (“CAGR”) of 32.5%. For the current financial year under review, OCK’s core business, telecommunication network services remains to be the core profit contributor with revenue of RM129.4 million, representing a 50.9% increase compared to FYE2013. The Group’s higher revenue from the telecommunication network services was partly contributed by its expanded regional business in Indonesia, Cambodia, Myanmar and China with a total revenue of RM16.9 million. The Group’s green energy and power solution saw a dip in revenue to RM35.6 million due to the completion of the engineering, procurement, and construction of 10MWp photovoltaic electric installation in Sepang during first quarter 2014. “Since our establishment, we have been focusing on strengthening and growing our business in Malaysia and now we are very happy to see that our regional expansion are beginning to bare fruits. We are very excited in continuing working with our regional business expansion activities as well as the strong industry prospects looming in Malaysia.” commented Mr. Sam Ooi, Group Managing Director. As at 3 December 2014, The Group presents a healthy balance sheet with a total equity of RM185.6 million and available cash and cash equivalent of RM74.7 million, which places OCK in a favourable position to seize any lucrative opportunities that may arise. CORPORATE HIGHLIGHTS 26 June 2014 Completed a 20% private placement in two tranche of 28,490,000 shares each raising RM74.07 million 12 November 2014 Acquired 85% of Putra Mulia Telecommunications in Indonesia 20 November 2014 Successfully transferred and listed on to the Main Market of Bursa Malaysia Securities Berhad 26 November 2014 Issuance of 176,053,636 bonus shares on a basis of 1 bonus share for every 2 existing OCK shares held 5 January 2015 Appointment of new Group CEO, Dr. Yap Wai Khee 29 January 2015 Established a new subsidiary named MIN-OCK Infrastructure Pte. Ltd. in view of OCK’s regional expansion plans to Myanmar. “The management notes that we will be working heavily in executing our strategic growth plans moving forward both domestically and regional. Hence, the recent appointment of Dr Yap as our Group CEO is a prerequisite to solidify the Group’s internal structure in support of our expansion activities. I’m confident that we have the right people in place now and we are optimistic with our performance for the year ahead.” Mr. Ooi further added.